Abu Dhabi’s security, aerospace and defence industries have become a critical component of the emirate’s ongoing push to both protect critical national infrastructure and its interests abroad, as well as transform itself into a knowledge-based, diversified economy. Total military spending in the UAE stood at 5.1% of GDP in 2012 before rising to 6.1% in 2013 and then moderating to 5.7% in 2014...
The Middle East Industry
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Chapter | Security, Aerospace & Defence from The Report: Abu Dhabi 2016
With the decline in oil prices placing the federal budget under pressure, and demand for power and water increasing at a rapid rate, the authorities have turned their attention toward more effective consumer pricing and demand management. Diversification away from reliance on combined-cycle gas independent water and power producers will have a transformative effect on the supply side of the...
Thanks to business-friendly government policies implemented over the past 10 years Abu Dhabi is now home to a rapidly diversifying economy that is among the largest in the region, with GDP reaching a total of Dh952.68bn ($259.32bn) at current prices in 2014.
Bahrain is investing heavily in expanding its industrial sector, as the non-oil sector continues to drive growth in the kingdom. The oil and gas sector grew by 3% in 2014, while the non-hydrocarbons sectors expanded by 4.9%. In the first quarter of 2015, manufacturing was up 5.9% year-on-year. In June 2015 Aluminium Bahrain (Alba) announced it would be going ahead with a sixth production line...
Low oil prices will undoubtedly continue to be a significant challenge for Bahrain in 2016. However the kingdom’s early moves to diversify its economy mean the country is well placed to weather the storm and non-oil segments are expected to continue performing well in 2016.
In recognition of its varied physical, ethnic and cultural landscape, Oman has long been divided into regions, with the government and the sultan keen to achieve a much more equitable and sustainable economic balance between them. Oman’s current long-term development plan includes provisions targeting this goal, as well as plans focused on greater regional authority. Special economic zones (...