As the region faces up to the challenge of the recent drop in oil prices, Bahrain’s fundamentals indicate the kingdom is well positioned to weather the dip. The focus on diversification goals outlined in Economic Vision 2030 is helping establish a more competitive and sustainable economy in the kingdom. The financial sector, which represents Bahrain’s second-largest GDP contributor, has continued to recover robustly since the global economic downturn.
Oman continues to capitalise on its geographical position, increasingly establishing itself as a major trans-shipment centre for traffic between Europe, Africa and Asia with ongoing development and expansion plans at various ports in the sultanate, particularly at Duqm where a new port and dry-dock are being developed. Coordinating this maritime-based growth with land and air-side growth is...
Although the sultanate’s petroleum wealth has traditionally provided a backbone for growth, efforts are well under way to diversify away from hydrocarbons. Oman Vision 2020 has laid out plans to boost industrialisation within the sultanate and to encourage the private sector to take a more active role in the economy and in the provision of jobs, both of which are billed as key drivers for growth.
Jordan’s transport sector remains a major source of employment, currently providing jobs for approximately 10% of the county’s workforce. While the volatility of energy supplies, particularly natural gas from Egypt since 2011, continues to pose a challenge to the sector, plans for a new national rail network, including a line connecting Iraq with the Port of Aqaba, hope to address this....
In 2014 Jordan’s population reached 6.64m, as regional turbulence saw an influx of refugees from neighbouring countries. Jordan, however, remains stable as it pushes ahead with the political reforms announced in 2011. The economy continues to revive following the global economic downturn, while government commitments to tackle structural issues in the economy bode well for future growth.
Sitting at the confluence of three of the most populous and prosperous countries in the Middle East – Iraq, Iran and Saudi Arabia – Kuwait is a logical transport centre for the northern Gulf and the country has committed itself to making investments towards attaining that goal. Expansion of the main airport is under way, while a new port is set to increase Kuwait’s capacity as a shipping hub....
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