Announced in January 2016, Oman’s ninth five-year plan is the final component of is long-term blueprint Vision 2020 and includes mining as one of five pillars of economic diversification being fast-tracked by the sultanate. With the government targeting 6% annual growth in the sector, and major regulatory initiatives attracting increased investor interest, mining is poised to surge in 2017-18...
The Middle East Industry
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Chapter | Industry & Retail from The Report: Oman 2017
The sultanate’s ninth five-year plan, covering 2016-20, is the final component of the government’s long-term Vision 2020 development strategy, and is focused on reducing reliance on the energy sector’s contribution to GDP, while boosting non-petroleum industrial activities such as mining and quarrying, manufacturing, and building and construction. These together accounted for OR5.33bn ($13.8bn...
Driven by rapid industrialisation, a growing population base and state-funded investments in major infrastructure projects, demand for electricity and water has surged in Oman over the past decade. Peak power demand on Oman’s Main Integrated System has more than doubled since 2006, and water demand has almost tripled. Growth forecasts for each range from 6% to 10% over the coming years. The...
Despite ongoing economic pressures associated with the drop in oil prices, Oman’s diversification strategy and efforts to enhance wider revenue streams are beginning to bear fruit, as witnessed by continued growth in the non-oil sector despite dropping incomes and wider regional instability.
Despite high levels of government debt and the costs associated with hosting hundreds of thousands of refugees, Jordan’s economy has continued to demonstrate remarkable resilience in the face of ongoing regional instability. A raft of far-reaching reforms introduced in 2016, along with newly brokered international agreements, should help the kingdom continue along its slow but steady growth path in the years ahead.
Chapter | Industry & Retail from The Report: Jordan 2016
Jordan’s industrial sector continues to grow, with phosphates and potash, chemicals and pharmaceuticals, and textiles and garments all seeing expansion in both net profits and volume in 2015. That these segments have grown in the face of global economic headwinds and in a region directly affected by major geopolitical tensions demonstrates the sector’s resilience and ability to adapt. The...