The Middle East

Despite being established by royal decree quite recently, the Public Authority for Investment Promotion and Export Development (PAIPED) has already taken a number of steps to promote Omani products abroad and boost investment from foreign firms and governments alike, by both sending and hosting major international delegations. Moreover, that PAIPED, which replaces the Omani Centre for Investment Promotion and Export Development, (OCIPED), was set up as a public authority is indicative of the growing importance placed on investment promotion in the Sultanate.

Qatar’s already busy construction industry is about to step up a gear, and it is not just the major undertaking of hosting the 2022 World Cup football tournament that is going to spur growth. A massive state investment programme to expand the nation’s infrastructure and private sector spending on residential and commercial properties are also tipped to build momentum in the sector.

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.

The financial health of Kuwait’s banking sector has improved markedly since the height of the global financial crisis, when falling asset prices had a negative impact on balance sheets and a number of institutions faced rising numbers of non-performing loans. Today, banks are well capitalised and reporting increased profits.

Oman’s higher education system is set to be bolstered by a programme that will fine-tune its services to better meet the needs of both students and the national economy, while also bringing the system in line with international standards.

As Turkey’s internet usage rises and opportunities for online shopping gain traction, the rapid expansion of the e-commerce market has attracted the attention of international players.