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.
Education is at the heart of an ambitious agenda to diversify Saudi Arabia away from reliance on hydrocarbons and transform it into a knowledge-based economy by 2025. With this in mind, the Kingdom has stepped up investment in the education sector and in the young people who will be expected to drive that new economy, but policymakers face the challenge of rapid population growth. However,...
Industry is one of the mainstays of the Jordanian economy with the sector producing roughly one fifth of the country’s GDP and employing around one tenth of Jordanians. The success of Jordan’s current strategy to build higher-value-added industries is reflected in the pharmaceutical sector, which has leveraged both the high standard of human resources in the country and the availability of...
The construction sector saw renewed growth in 2013 with forecasts for continued expansion in 2014. Loans extended in 2013 reached $5.76bn, accounting for 21.5% of credit to all industries. While housing accounted for the bulk of construction activity, several major real estate and tourism development projects are driving opportunities for large contractors, particularly in the Red Sea port of...
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....
Population increases and a growing economy look set to intensify demand on energy resources in Jordan over the coming years. In response, the government has put in place an energy plan that will focus on maximising the use of domestic resources, particularly oil shale; encouraging energy conservation and awareness; generating electricity from nuclear energy; and promoting the development of...
Stay updated on how some of the world’s most promising markets are being affected by the Covid-19 pandemic, and what actions governments and private businesses are taking to mitigate challenges and ensure their long-term growth story continues.
Register now and also receive a complimentary 2-month licence to the OBG Research Terminal.
Register Here×