Small and medium-sized enterprises (SMEs) are to receive new incentives in Papua New Guinea, as the government aims for a 10-fold increase in the number of such businesses, from 50,000 to 500,000, and a five-fold increase in the segment’s contribution to GDP, from 10% to 50%.
Electric vehicles may be set to become a more familiar sight on the streets of Dubai. The emirate has one of the world’s highest car ownership ratios and the authorities are expanding the infrastructure for battery-run cars and introducing new incentives to encourage people to switch to more environmentally-friendly options.
Due in part to a large housing deficit, demand for residences in Nigeria looks set to remain strong, putting the real estate sector on course for a period of sustained growth.
The automobile industry notched up a robust performance in the Philippines last year, with record sales continuing in early 2015, largely due to economic expansion and the growth of the middle class.
Despite some near-term challenges, confidence is growing among Trinidad and Tobago’s industrial companies. According to the Business Confidence Report published by the Central Bank of Trinidad and Tobago (CBTT), the country’s “assembly and related industries” are upbeat about the next 6-12 months.
Further progress has been made in plans to build the Gulf region’s rail network, with Saudi Arabia looking to closely align the project with its economic and social priorities.
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