With just 1.63m people, Gabon is the second-smallest member of the six-country Central African Economic and Monetary Community in terms of population, after Equatorial Guinea. However, the country’s well-developed hydrocarbons sector has made Gabon the second-largest economy in the sub-region.
Driven by an expanding population and a slate of new infrastructure projects expected to enhance economic development and meet growing energy demands, Kuwait’s construction industry is set to grow impressively in 2014. Infrastructure projects in the pipeline will see an influx of public and private spending on road, airport and energy projects, while rising demand for housing and hotels has...
Kuwait accounts for approximately 6.1% of the world’s proven oil reserves, with hydrocarbons revenues comprising more than 65% of the country’s GDP and 95% of total exports in 2013. Cautious budgetary decisions have resulted in large surpluses, creating a solid base for public expenditure programmes such as the National Development Plan, which is set to diversify the economy and boost employment.
From 2008 to 2012, the construction sector posted average real annual growth of 20.4%. The value of construction projects in 2013 was estimated at $1.4bn, up from the $1.2bn in 2012, $984m in 2011 and $744m in 2010. A host of big-ticket items are listed in the 2014 budget, including $577m to construct and maintain roads and bridges; $152m to finish facilities for the 2015 Pacific Games; $25m...
Papua New Guinea is poised for change, as the country’s mineral riches are providing a major opportunity for economic development through the exploitation of natural resources. The government’s five-year strategic plan focuses on key development enablers such as free education, improvements to health services, the strengthening of law and order, rural development projects and infrastructure construction.
Buoyed by a strengthening of the government’s housing programme, as well as a continued emphasis on improving transport infrastructure across the country, Colombia’s construction sector is well positioned for growth over the coming years. The sector grew 9.8% in 2013, considerably more than the 3.6% increase seen in 2012, accounting for 6.5% of GDP in 2013, according to BBVA Bank. Driven by...
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