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    Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

    Egypt’s food industries contribute 24.5% of GDP

    Egypt’s food industries contribute 24.5% of GDP

    $36mln contract for construction of Duqm fisheries complex

    $36mln contract for construction of Duqm fisheries complex

    Ministry signs agreement to support Oman’s honey industry

    Ministry signs agreement to support Oman’s honey industry

    Local, Italian companies partner up to establish food retail chain in Egypt

    Local, Italian companies partner up to establish food retail chain in Egypt

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      Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

      Egypt’s food industries contribute 24.5% of GDP

      Egypt’s food industries contribute 24.5% of GDP

      Profits at top Saudi banks jump 17.6% in Q1

      Profits at top Saudi banks jump 17.6% in Q1

      GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

      GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      New study reveals that UAE is most competitive economy in the Arab world

      New study reveals that UAE is most competitive economy in the Arab world

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      • CES 2017
      • Election Results
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      Oman Construction Equipment Industry to 2028

      Oman Construction Equipment Industry to 2028

      $36mln contract for construction of Duqm fisheries complex

      $36mln contract for construction of Duqm fisheries complex

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

      Madayn working on major Oman industrial city projects

      Madayn working on major Oman industrial city projects

      Foundation stone laid for new 700-bed hospital is Salalah, Oman

      Foundation stone laid for new 700-bed hospital is Salalah, Oman

      Iraq set to award new Faw Port deals

      Iraq set to award new Faw Port deals

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        Suez Canal expects US$3.5 billion in revenues in H1

        Suez Canal expects US$3.5 billion in revenues in H1

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        UAE and Egypt’s consortium to buy African renewables firm Lekela Power

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Fitch revises Saudi Aramco’s outlook to positive from stable

        Investments in renewables in Egypt reach LE6 bn: Official

        Investments in renewables in Egypt reach LE6 bn: Official

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        JGC lands $3.7bn Iraq refinery upgradation project deal

        JGC lands $3.7bn Iraq refinery upgradation project deal

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        • Hospitality

          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          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

          Qatar’s hospitality sector peaks despite turbulent 2020

          Qatar’s hospitality sector peaks despite turbulent 2020

          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

          Staycations to stimulate Qatar’s hospitality sector

          Staycations to stimulate Qatar’s hospitality sector

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        • Agrofood
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          • Agriculture
          • Environment
          • Food

          Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Pacts worth over OMR 33 million signed to establish agricultural, fisheries projects

          Egypt’s food industries contribute 24.5% of GDP

          Egypt’s food industries contribute 24.5% of GDP

          $36mln contract for construction of Duqm fisheries complex

          $36mln contract for construction of Duqm fisheries complex

          Ministry signs agreement to support Oman’s honey industry

          Ministry signs agreement to support Oman’s honey industry

          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Economy
            • Finance
            • Industry
            • Technology
            • Trade
            • Transport & Logistics

            Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

            Egypt’s food industries contribute 24.5% of GDP

            Egypt’s food industries contribute 24.5% of GDP

            Profits at top Saudi banks jump 17.6% in Q1

            Profits at top Saudi banks jump 17.6% in Q1

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            GCC can create 600,000 tech jobs and add US$255 billion to GDP by 2030

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            New study reveals that UAE is most competitive economy in the Arab world

            New study reveals that UAE is most competitive economy in the Arab world

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Oman Construction Equipment Industry to 2028

            Oman Construction Equipment Industry to 2028

            $36mln contract for construction of Duqm fisheries complex

            $36mln contract for construction of Duqm fisheries complex

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            What will Qatar do with its World Cup infrastructure after FIFA 2022 ends?

            Madayn working on major Oman industrial city projects

            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              Suez Canal expects US$3.5 billion in revenues in H1

              Suez Canal expects US$3.5 billion in revenues in H1

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              UAE and Egypt’s consortium to buy African renewables firm Lekela Power

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Fitch revises Saudi Aramco’s outlook to positive from stable

              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Trending Tags

              • Hospitality

                Food Africa and pacprocess MEA attract over 25,000 trade visitors to the trade fair duo in Egypt

                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

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

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              Jordan sees rising investment in clean technology

              OBG

              March 21, 2017
              in Power & Electricity, Renewable Energy
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              Regulatory reforms introduced in 2016 should draw investors to help carry out a large, state-led project pipeline, with clean and alternative energy among the industries benefitting.

              The Regulation for Organizing Non-Jordanian Investments No. 77, passed in June, eased capital requirements and other restrictions on foreign investment in key sectors.

              Among the headline changes, foreigner investors looking to establish businesses are no longer required to meet a JD50,000 ($70,400) minimum capital threshold to enter specific industries.

              Areas previously restricted to local firms, including railway services, have now been opened to international investors, though certain segments of the economy remain off-limits.

              A green edge
              Investment in alternative energy has flowed in as Jordan seeks to carry out a large pipeline of projects set to add 1.3 GW of renewable generation capacity to the existing installed 400 MW.

              Among these is an 89.1-MW wind farm being built near Amman by South Korea’s Korea Electric Power. Construction started on the $184m facility last month and is slated for completion by October 2018.

              Another wind project got off the ground in December, when Spanish manufacturing company Gamesa Corporación Tecnológica clinched a contract for the construction of an 86-MW facility in southern Jordan’s Ma’an Governorate. The project is scheduled to be fully operational by October 2018, with the Spanish company set to maintain and operate the project for 20 years after production begins.

              Solar projects have also proven a popular destination for recent investment in renewables. In November Saudi Arabia’s ACWA Power secured a $54m loan from European banks for the development for a 60.3-MW solar plant in Mafraq, 50 km north-east of Amman.

              Green energy is gaining momentum in Jordan at a time when many large economies, such as China and Japan, are cutting back on new projects in favor of consolidating capacity. While global investment in the segment slipped by 18% in 2016 to $287.5bn, according to industry media, Jordan attracted inflows of $1.2bn, an annual increase of 147%.

              Potential exists for Jordan to carve out a niche as a major investment destination in clean energy, according to Safa Jayoussi, head of climate and energy campaigns at IndyACT and Arab world coordinator for Climate Action Network.

              “Jordan can easily become a regional hub for clean technologies,” she told local press in early February. “The number of companies operating in the sector is on the rise, in addition to the number of people working in clean technology ventures and companies.”

              According to the “Jordan Clean Technology Sector Report 2016” released in early February by EDAMA, a local business association, the kingdom has the second-most-attractive environment for renewable and energy-efficient investments in the region, after Tunisia.

              The report found that the 365 companies operating in the field – 80% of which are locally owned – were driving green technology development across several pivotal areas, including energy efficiency, renewables, and water and waste management.

              Fostering trade links
              In overhauling its investment framework, Jordan is looking to raise foreign investment inflows across the economy – where GDP growth has been around 2-3% annually since 2010 – in part by strengthening bilateral relations with its neighbors.

              The reforms were introduced after the government set up a collaborative body with Saudi Arabia called the Saudi-Jordanian Coordination Council. Following its first meeting in October, the Saudi government pledged to channel billions of dollars into infrastructure projects in Jordan, including a railway system, a project to boost electricity connectivity and a real estate project in Matal in Aqaba.

              Jordan is also moving to strengthen trade relations with Iraq. In 2016 the two neighbors agreed to build an Iraq-Jordan pipeline to carry oil and gas from Basra to the port of Aqaba. On the back of this, a meeting between the Iraqi Business Council and the Iraqi Economic Council was held in Amman at the end of last month, when representatives spoke of Jordan’s attractive investment environment. At the event, sector players from both countries said they were keen to extend economic relations beyond the energy sector.

              Ties are also improving with Turkey. In February Jordan’s prime minister, Hani Al Mulki, met with a high-level business delegation at the Turkish-Jordan Business Forum, where Turkish representatives pledged to increase investments in Jordan to $1bn, with a focus on water, energy and infrastructure projects.
              Oxford Business Group
              21 March

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