Looking to reduce its imports and at the same time meet growing energy demands, Abu Dhabi is seeking to develop its sour gas reserves, both on and off-shore.
The Middle East
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Despite facing a challenging economic climate marked by regional unrest and high energy prices, Jordan’s industrial sector held its ground in the first four months of 2014, posting modest year-on-year (y-o-y) growth.
Rising demand for health care combined with the graduated introduction of the National Health Insurance Scheme (Seha) look set to boost Qatar’s nascent pharmaceuticals and medical products segment.
With a strong and well established financial services sector, Bahrain’s role in expanding the global reach of sharia-compliant financing looks set to broaden further through three developments firmed up in July. Two new partnerships were announced last month that will expand the number of Islamic Financial Services (IFS) institutions in the kingdom, while an agency already active in the sector is furthering its work to globalise the industry.
Kuwait is seeing significant activity in its construction sector this year, with contracts worth $17.5bn already signed or on offer. There are also a number of large-scale projects already underway and at the stage of moving from the drawing-board to the development stage, adding further momentum. However, raw material supplies, including cement, are in short supply and could cause delays and cost increases.
Sustained growth in Oman’s tourism industry is expected on the back of rising interest in the destination together with favourable economic conditions driving up disposable income and improved connectivity.