The Middle East

With Jordan’s economic outlook at best mixed for the time being, the kingdom’s government is exploring tax increases as one way to keep the budget solvent. However, officials are nevertheless keen to ensure these tax hikes do not hinder common daily economic activity for most of the population, especially now that Ramadan has begun.

With an eye on developing an Emirati labour force that can meet the requirements of local employers, the Executive Council (EC) of Abu Dhabi recently announced two new programmes that will boost the provision of education and professional training to UAE nationals. The government’s plans include the expansion of a scholarship fund for university students, as well as the establishment of additional vocational schools at the secondary level.

The Kingdom is encouraging some of its sharia-compliant banks to join forces to be better capitalised and equipped to deal with an increasingly turbulent and competitive global market.

As the country’s hosting of several major international sports and business events has brought growing numbers of tourists to Qatar, it has also highlighted the need for infrastructure to accommodate them.

Building contractors in Kuwait will be hoping that the roll out of the state’s $108bn national development plan drives up activity in the sector, although political wrangling and red tape could mean key projects struggle to meet their 2014 deadlines.

With Muscat having been named the Arab Tourism Capital for 2012 and the country becoming increasingly popular with visitors from around the globe, Oman’s tourism sector is gaining attention from local and international investors who are building new hotel and property developments. To go along with the accommodation offerings, there is also a need for additional entertainment and leisure facilities to fill niche markets and create demand.