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    Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

    Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

    Arab states imported 1.73 million agricultural commodities from Egypt

    Arab states imported 1.73 million agricultural commodities from Egypt

    Wheat yield boom boosts Oman’s food security

    Wheat yield boom boosts Oman’s food security

    Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

    Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

    Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

    Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

    Egypt’s agriculture exports rise 17.2 percent in 5 months

    Egypt’s agriculture exports rise 17.2 percent in 5 months

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    • Business & Economy
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      Saudi: 53 new industrial licenses issued in April 2023

      Saudi: 53 new industrial licenses issued in April 2023

      Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

      Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

      Saudi transport authority approves 15 licensing, technical guides for railways

      Saudi transport authority approves 15 licensing, technical guides for railways

      Number of industrial decisions up by 10.56% to 356 in 2021

      Number of industrial decisions up by 10.56% to 356 in 2021

      Egypt’s macroeconomic conditions improving, says minister

      Egypt’s macroeconomic conditions improving, says minister

      Number of BIA passengers up by 26.90% annually YTD APRIL 2023

      Number of BIA passengers up by 26.90% annually YTD APRIL 2023

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      • CES 2017
      • Election Results
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      Oman’s health ministry expected to award construction contract for two health centres in Q3

      Oman’s health ministry expected to award construction contract for two health centres in Q3

      Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

      Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

      Oman releases more Sultan Haitham City details

      Oman releases more Sultan Haitham City details

      Construction activity in Saudi Arabia reaches highest level in years: Survey

      Construction activity in Saudi Arabia reaches highest level in years: Survey

      Oman gears up for its first smart city

      Oman gears up for its first smart city

      Saudi real estate ‘booming’ on big office space demand

      Saudi real estate ‘booming’ on big office space demand

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        NEOM’s green hydrogen project is formally under execution: ACWA Power

        NEOM’s green hydrogen project is formally under execution: ACWA Power

        Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

        Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

        Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

        Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

        UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

        UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Total-led consortium to start drilling offshore Lebanon in September

        Total-led consortium to start drilling offshore Lebanon in September

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        • Hospitality
          Qatar: Over 700 hotel keys added in Q1

          Qatar: Over 700 hotel keys added in Q1

          Jordan’s tourism income surges 88% as visitors flock to the country

          Jordan’s tourism income surges 88% as visitors flock to the country

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Leisure sector in Qatar stronger after World Cup 2022

          Leisure sector in Qatar stronger after World Cup 2022

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Saudi to be among world’s big leisure tourism hubs by 2030

          Saudi to be among world’s big leisure tourism hubs by 2030

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        • Agrofood
          • All
          • Agriculture
          • Environment
          • Food
          Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

          Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

          Arab states imported 1.73 million agricultural commodities from Egypt

          Arab states imported 1.73 million agricultural commodities from Egypt

          Wheat yield boom boosts Oman’s food security

          Wheat yield boom boosts Oman’s food security

          Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

          Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

          Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

          Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Economy
            • Finance
            • Industry
            • Technology
            • Trade
            • Transport & Logistics
            Saudi: 53 new industrial licenses issued in April 2023

            Saudi: 53 new industrial licenses issued in April 2023

            Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

            Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

            Saudi transport authority approves 15 licensing, technical guides for railways

            Saudi transport authority approves 15 licensing, technical guides for railways

            Number of industrial decisions up by 10.56% to 356 in 2021

            Number of industrial decisions up by 10.56% to 356 in 2021

            Egypt’s macroeconomic conditions improving, says minister

            Egypt’s macroeconomic conditions improving, says minister

            Number of BIA passengers up by 26.90% annually YTD APRIL 2023

            Number of BIA passengers up by 26.90% annually YTD APRIL 2023

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Oman’s health ministry expected to award construction contract for two health centres in Q3

            Oman’s health ministry expected to award construction contract for two health centres in Q3

            Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

            Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

            Oman releases more Sultan Haitham City details

            Oman releases more Sultan Haitham City details

            Construction activity in Saudi Arabia reaches highest level in years: Survey

            Construction activity in Saudi Arabia reaches highest level in years: Survey

            Oman gears up for its first smart city

            Oman gears up for its first smart city

            Saudi real estate ‘booming’ on big office space demand

            Saudi real estate ‘booming’ on big office space demand

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              NEOM’s green hydrogen project is formally under execution: ACWA Power

              NEOM’s green hydrogen project is formally under execution: ACWA Power

              Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

              Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

              Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

              Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

              UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

              UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Total-led consortium to start drilling offshore Lebanon in September

              Total-led consortium to start drilling offshore Lebanon in September

              Trending Tags

              • Hospitality
                Qatar: Over 700 hotel keys added in Q1

                Qatar: Over 700 hotel keys added in Q1

                Jordan’s tourism income surges 88% as visitors flock to the country

                Jordan’s tourism income surges 88% as visitors flock to the country

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Leisure sector in Qatar stronger after World Cup 2022

                Leisure sector in Qatar stronger after World Cup 2022

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

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              Iraq is looking forward to expand free zones to enhance business opportunities

              Al Monitor

              April 8, 2013
              in Finance
              0
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              Having prominent geographical advantages, Iraq is planning to improve the performance of its three free-trade zones. Experts are anticipating that if Iraq becomes successful with its motto, then the over oil-reliance of Iraq can get lessened up.

              Presently, as mention earlier, three main free-trade zones have been there in Iraq. They are: Basra in the south, Nineveh in the north and al-Qaem in the west. In case of the western free-trade zone, which is also known as al-Qaem, trading or economic activity has been hampered a lot due to the conflictions inside Syria.

              To define free zones, it can be said that there are small districts within the political boundary of the country of Iraq. However, they are considered outside the country’s customs border. As a result, everything that comes in and out of the free zones is not subject to import and export controls and duty.

              In this year, Iraq has already declared that the country is designing a contract to create first free zone in Baghdad. If this project gets successfully ended, then it is assumed that unemployment problems in Iraq may get eradicated.

              The Free Zone Law in Iraq affords extensive privileges to investors. Thus, establishing free zones would definitely bring lucrative opportunities for the investors in Iraq. The Free Zone Authority which is a part of Iraqi Ministry of Finance has recently reported that it has signed an investment contract for public transport and civil aviation affairs in the free zone in Khor al-Zubair in the Basra province.

              According to the authority, it has been also revealed that the free zones of the south of Iraq will enhance its business practices to gain fast economic growth. As per mentioned in contract, an area of 12,000 square meters will be in service.

              It has also been stated that investment trend in the Iraqi free zones also have been started blooming as the investors are interested to gain business advantages of these fields. From local to foreign companies – all sorts of investment interests are being noted.

              Iraq has signed memoranda of understanding on trade with several countries. Some of these contracts include the establishment of free trade zones on the border. On the other hand, the semi-autonomous region of Iraq, Kurdistan, has recently announced that the region would go jointly with Turkey to establish a free zone in the Kurdistan region, which will aid the economy of the region immensely. Turkey showed its interest in the last year’s September to venture an free zone establishment project at northern Dohuk province.

              At the Babil province – a free zone development project has been proposed in order to support the invertors and to give a hike to the economy of the country. It is stated by Iraqi government that the free zone will aid trading simulation and enhancing economic activities in Iraq. Gaining investors from different parts of the world is important.

              Under Iraq’s Free Zone Law, goods imported and exported from the free zones are exempt from all taxes and fees, except when imported through customs. In addition to that, all capital, profits and income that have been derived from the investments in free zones trading are fully exempted from taxes. This will be applicable throughout the project lifecycle, including the construction and startup phases of the project.

              According to the law, free zone authority can act as a free or independent body and thus, can make all financial and administration decisions. However, the authority should be affiliated with the Ministry of Finance and should be managed by a board of directors, which will include representative from the ministries.
              The strategically geographical location of Iraq is fascination as it is surrounded by significant regional countries. Overlooking the Arabian Gulf, it is very close to the global market. It is well connected with both East and West. Iraq also has a dense network of land, sea and air lines, including a railway.

              The authority’s general director Sabah Saleh al-Qaisi said that a delegation from the UAE-based Mac International visited Iraq’s free zones. It is a good thing for Iraqi free zones as rise in investment can be observed.

              The Arab Investment and Export Credit Guarantee Corporation DAHMAN indicated that Iraq, Sudan, Bahrain and Oman have equal numbers of free zones in the countries.
              Al Monitor
              8 April

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