The Middle East Transport

The RAK Investment Authority (RAKIA) licenced 800 new companies in the first eight months of 2011, a 31% increase from the same period last year, according to Alex Thomas, RAKIA’s general manager of marketing. Most of the new licences were for manufacturing firms, and the number of trading and transport licenses was also up, Thomas said.

With an announcement that a 35% stake in its national carrier is up for sale, the Kuwaiti government has taken another step towards privatising Kuwait Airlines, a project that has been in the works since 2008. At the same time, efforts are under way to build a national railway, with the government recently signing a contract with a consortium of consultancy firms to undertake research on a proposed rail link between Kuwait International Airport (KIA) and the country’s ports.

Saudi Arabia is embarking on a massive programme to boost its logistics and cargo-moving capacity as part of a much larger scheme to broaden the base of the economy and pave the way for future expansion.

A $5bn railway plan to transform Jordan into a centre for regional trade and commerce received a major boost recently when the Islamic Development Bank (IDB) announced that it is in talks with global financial institutions to fund the mega-project.

Long seen as a future powerhouse in the emirate’s diversified economy, Dubai’s aviation sector is starting to live up to expectations. Local carriers have been posting strong profits and expanding their network of routes, though the risk of turbulence remains.

Kuwait’s ambition to become a leading trading centre for the region took a step forward earlier this month, when the foundation stone for the new Mubarak Al Kabir port was laid, at a ceremony attended by Emir Sheikh Sabah Al Ahmed Al Jaber Al Sabah.