Despite new state investments in infrastructure and a steadily rising population, the insurance sector in Kuwait is expected to grow more slowly than elsewhere in the Gulf.
The Middle East
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As Abu Dhabi looks to develop its capital markets, it has again raised discussions of establishing a Gulf Derivatives Exchange, while an upgrade for the UAE to emerging market status is likely to boost the bourse’s international profile and attract more institutional investors.
Developing stronger ties between Jordan and Iraq was among the topics of discussion at the latest World Economic Forum (WEF) on the Middle East and North Africa, which was hosted by the Kingdom in May.
Major infrastructure projects and extensive plans to galvanise residential construction have fuelled demand for building materials in Saudi Arabia, prompting the government to intervene in the cement market for the second time in as many years. Steel, another vital building material, is also experiencing consistently high demand in the Kingdom.
The recent promotion of the UAE to “emerging market” status could well boost capital inflows to Dubai, although the full effect of the change is likely to take some time to become apparent.
The government’s recent commitment of more than $1.3bn to the Omani fisheries sector is the latest step in a series of investments that will lay the groundwork for growth in the industry and open the door for new opportunities for private businesses.