All Countries and All Sectors

The economy has enjoyed a good first half of 2011, with exports on the rise, GDP expanding and foreign direct investment flowing in, though fears that the general election held earlier in July could spark a further wave of political instability have eased following a relatively smooth democratic transition process.

Brunei Darussalam’s economy has been given a clean bill of health by the International Monetary Fund (IMF), with the agency praising the prudent economic management exercised by local authorities, as well as the efforts to reform and liberalise the financial sector and reduce the dependence on oil and gas as the nation’s main revenue earners. The Fund and other analysts have also said more still needs to be done to foster private sector development and improve the overall business environment.

Jordan’s government has undergone major overhaul with almost one third of all cabinet ministers reshuffled by Prime Minister Marouf Bakhit. Nonetheless, this does not appear to flag any major shift in economic policy.

Fixed-line telephone services in Kuwait are currently owned by the state, however, this may be set to change, according to recent statements by government officials. At the same time, the establishment of an independent regulatory agency for the communications sector is being considered. Both of these changes would dramatically affect the country’s internet service providers (ISPs), which have recently been subject to criticism from local internet users for their decision to implement “fair access” policies.

After several years of substantial economic expansion, Qatar was recently named the wealthiest nation in the world in terms of GDP per capita. However, with many of the oil and gas related projects nearing fruition, focus is turning to manufacturing and other non-hydrocarbons businesses and the role they will play in the local economy.

The Omani government has opened its doors to Islamic banking, with Sultan Qaboos bin Said Al Said issuing a royal directive in early May allowing for the roll-out of sharia-compliant financial services and institutions.