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    Egypt, Poland Explore Agri-Tech and Investment Opportunities

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    Egypt Enhances Water Management Using Satellite Technology

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    Egypt Reaches 60% Self-Sufficiency in Red Meat, Near Full Self-Sufficiency in Poultry

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    GCC Population Reaches 61.2 Million, Growing by 2.1 Million in 2024

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    Oman Launches First Rutab Festival to Celebrate Heritage, Farming and Tourism

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    Green Certifications: A Strategic Imperative for GCC Food Producers

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    UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

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    Ethical Food Market Outlook 2025–2034: Size, Growth, Trends & Forecast

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    Oman Grants Licences to 24 Integrated Aquaculture Farms in 2024

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      Iraq’s Development Road: A New Contender in Global Trade Routes?

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      UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

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      Oman’s GDP Expands 4.7% on Non-Oil Sector Growth

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      Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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      Middle East Gaming Market to Surpass $42 Billion by 2033, Driven by Youth Demand and Mobile Adoption

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      Emerging Trends Reshape GCC’s Rapidly Growing Retail Sector

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      Consumer Electronics Boom Continues Across GCC, Middle East

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      Qatar’s Consumer Electronics Market Set for Steady Growth Driven by Premium Demand and Digital Transformation

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        Oman Launches $122 Million Izki–Nizwa Road Dualisation Project

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        Iraq Launches $400–600M Tender for Baghdad Airport Development

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        Oman’s Al Dhahirah EZAD Sets Sights on Regional Prominence with Seven Strategic Deals

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        Construction Underway on Iraq’s Tallest Twin Towers in Baghdad

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        Qatar’s Construction Sector Poised for Transformation, Says New Report

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        Jeddah Tower Set to Claim Title of World’s Tallest Building

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        UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

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        Iraq to Establish Four New Desalination Plants in Basra

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        Over 111 km of Internal Road Projects Underway in Oman’s Al Dhahirah Municipality

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          Lebanon Moves to Build New Gas Power Plants as Part of Reform Program

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          Turkish Firm ENKA Secures $289M Contract to Upgrade Power Plant in Iraq’s Sulaymaniyah

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          Oman Seeks Bids for Two Major Substation Projects

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          Iraq Set to Launch First Nuclear Training Reactor in Partnership with China

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          Qatar 2025: From Energy Powerhouse to Innovation Leader

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          Iraq Aims for 12 GW of Renewable Energy by 2030

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          Iraq Launches Ambitious Plan for 1,000 Solar Projects in Three Years

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          Iraq and Power China International Sign Deal to Strengthen National Power Grid

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          Qatar Adds 875 MW in Solar Power, Boosts Renewable Energy Push

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            Qatar Tops MENA in Healthcare Index, Ranks 18th Globally

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            Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

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            Qatar Medicare 2025 Returns to Doha as the Premier International Healthcare Platform

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            Qatar’s Health Spending Set to Climb 14% by 2029

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            Qatar Precision Health Institute and Qatar Foundation’s Pre-University Education Expand Collaboration to Inspire Future Scientists

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            Qatar and the UK Explore Deeper Cooperation in Healthcare

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            The View Hospital Becomes Qatar’s First Private Facility with a Dedicated Dialysis Unit

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            Qatar’s Ambulance System Sets Global Benchmark with Cutting-Edge Pre-Hospital Care

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            Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

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              Oman Launches First Rutab Festival to Celebrate Heritage, Farming and Tourism

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              Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

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              Global Tourism Set to Reach 30 Billion Trips and $16 Trillion GDP by 2034

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              Oman Awards Over $600 Million in Contracts for Tourism Expansion

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              Qatar Expands Role as a Leading Global Tourism Destination

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              Saudi Arabia Welcomes Record 116 Million Tourists in 2024, Spending Reaches $76 Billion

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              Oman Secures $6.7 Billion in Tourism Investments Toward $7.8 Billion Goal by 2025

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              Oman Unveils 3-Kilometer Tourist Walkway in Nakhal: A Transformative Step for Local Tourism

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              Middle East’s Schengen Style GCC Tourist Visa Approved, to be Rolled Out ‘Soon’

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                Technological and Sustainable Innovation Drives Growth in Digital Printing

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                Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

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                Oman’s Manufacturing Sector Adds $10 Billion to the National Economy

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                Qatar Strengthens Circular Economy with Expansion of Recycling Facilities

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                  UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

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                  Dubai Launches Region’s First PropTech Hub to Back 200 Startups by 2030

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                  Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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                  Consumer Electronics Boom Continues Across GCC, Middle East

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                  Saudi Arabia’s ICT Spending Tops $10 Billion: Key Trends and What’s Ahead

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                    Oman Launches $122 Million Izki–Nizwa Road Dualisation Project

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                    Iraq’s Development Road: A New Contender in Global Trade Routes?

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                    Iraq Launches $400–600M Tender for Baghdad Airport Development

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                    Oman’s Al Dhahirah EZAD Sets Sights on Regional Prominence with Seven Strategic Deals

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                    Iraq to Establish Four New Desalination Plants in Basra

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                    Over 111 km of Internal Road Projects Underway in Oman’s Al Dhahirah Municipality

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                    Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

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                    Iraq to Open Three Major Airports in 2025

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                      Egypt, Poland Explore Agri-Tech and Investment Opportunities

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                      Egypt Enhances Water Management Using Satellite Technology

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                      Egypt Reaches 60% Self-Sufficiency in Red Meat, Near Full Self-Sufficiency in Poultry

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                      GCC Population Reaches 61.2 Million, Growing by 2.1 Million in 2024

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                      Oman Launches First Rutab Festival to Celebrate Heritage, Farming and Tourism

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                      Green Certifications: A Strategic Imperative for GCC Food Producers

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                      UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

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                      Ethical Food Market Outlook 2025–2034: Size, Growth, Trends & Forecast

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                      Oman Grants Licences to 24 Integrated Aquaculture Farms in 2024

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                        Iraq’s Development Road: A New Contender in Global Trade Routes?

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                        Saudi Arabia’s PPR Pipes Market to Reach 34,119 Tons by 2033, Driven by Sustainability, Infrastructure Expansion, and Water Conservation Efforts

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                        UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

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                        Oman’s GDP Expands 4.7% on Non-Oil Sector Growth

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                        Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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                        Middle East Gaming Market to Surpass $42 Billion by 2033, Driven by Youth Demand and Mobile Adoption

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                        Emerging Trends Reshape GCC’s Rapidly Growing Retail Sector

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                        Consumer Electronics Boom Continues Across GCC, Middle East

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                        Qatar’s Consumer Electronics Market Set for Steady Growth Driven by Premium Demand and Digital Transformation

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                          Oman Launches $122 Million Izki–Nizwa Road Dualisation Project

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                          Iraq Launches $400–600M Tender for Baghdad Airport Development

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                          Oman’s Al Dhahirah EZAD Sets Sights on Regional Prominence with Seven Strategic Deals

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                          Construction Underway on Iraq’s Tallest Twin Towers in Baghdad

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                          Qatar’s Construction Sector Poised for Transformation, Says New Report

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                          Jeddah Tower Set to Claim Title of World’s Tallest Building

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                          UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

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                          Iraq to Establish Four New Desalination Plants in Basra

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                          Over 111 km of Internal Road Projects Underway in Oman’s Al Dhahirah Municipality

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                            Lebanon Moves to Build New Gas Power Plants as Part of Reform Program

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                            Turkish Firm ENKA Secures $289M Contract to Upgrade Power Plant in Iraq’s Sulaymaniyah

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                            Oman Seeks Bids for Two Major Substation Projects

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                            Iraq Set to Launch First Nuclear Training Reactor in Partnership with China

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                            Qatar 2025: From Energy Powerhouse to Innovation Leader

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                            Iraq Aims for 12 GW of Renewable Energy by 2030

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                            Iraq Launches Ambitious Plan for 1,000 Solar Projects in Three Years

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                            Iraq and Power China International Sign Deal to Strengthen National Power Grid

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                            Qatar Adds 875 MW in Solar Power, Boosts Renewable Energy Push

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                              Qatar Tops MENA in Healthcare Index, Ranks 18th Globally

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                              Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

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                              Qatar Medicare 2025 Returns to Doha as the Premier International Healthcare Platform

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                              Qatar’s Health Spending Set to Climb 14% by 2029

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                              Qatar Precision Health Institute and Qatar Foundation’s Pre-University Education Expand Collaboration to Inspire Future Scientists

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                              Qatar and the UK Explore Deeper Cooperation in Healthcare

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                              The View Hospital Becomes Qatar’s First Private Facility with a Dedicated Dialysis Unit

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                              Qatar’s Ambulance System Sets Global Benchmark with Cutting-Edge Pre-Hospital Care

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                              Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

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                                Oman Launches First Rutab Festival to Celebrate Heritage, Farming and Tourism

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                                Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

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                                Global Tourism Set to Reach 30 Billion Trips and $16 Trillion GDP by 2034

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                                Oman Awards Over $600 Million in Contracts for Tourism Expansion

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                                Qatar Expands Role as a Leading Global Tourism Destination

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                                Saudi Arabia Welcomes Record 116 Million Tourists in 2024, Spending Reaches $76 Billion

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                                Oman Secures $6.7 Billion in Tourism Investments Toward $7.8 Billion Goal by 2025

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                                Oman Unveils 3-Kilometer Tourist Walkway in Nakhal: A Transformative Step for Local Tourism

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                                Middle East’s Schengen Style GCC Tourist Visa Approved, to be Rolled Out ‘Soon’

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                                  Africa’s Coated Printing and Writing Paper Market Set for Steady Expansion

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                                  Middle East Printing Inks Market Outlook 2025–2033

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                                  Technological and Sustainable Innovation Drives Growth in Digital Printing

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                                  Middle East Pharma Market Set to Reach $36 Billion by 2028 as GCC Drives Innovation and Local Production

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                                  Oman’s Manufacturing Sector Adds $10 Billion to the National Economy

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                                  Abu Dhabi’s Aldar Targets 87% Construction Waste Recycling In 2025 Sustainability Push

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                                  Qatar Strengthens Circular Economy with Expansion of Recycling Facilities

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                                  Food Tech Market Set to Reach $224.31B by 2032, Powered by Smart Kitchens and Sustainable Innovation

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                                    Technological and Sustainable Innovation Drives Growth in Digital Printing

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                                    UAE Launches New AI-Powered Strategic Planning Cycle Aligned with 2031 Vision

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                                    Dubai Launches Region’s First PropTech Hub to Back 200 Startups by 2030

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                                    Qatar’s Booming Consumer Electronics Market Sets the Stage for ConsumerTeQ 2025

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                                    Consumer Electronics Boom Continues Across GCC, Middle East

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                                    Qatar’s Consumer Electronics Market Set for Steady Growth Driven by Premium Demand and Digital Transformation

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                                    The Top 10 Emerging Technologies for 2025

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                                    Saudi Arabia’s ICT Spending Tops $10 Billion: Key Trends and What’s Ahead

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                                    GCC Drone Market to Surpass USD 2 Billion by 2033, Driven by Tech Innovation and Industry Demand

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                                      Oman Launches $122 Million Izki–Nizwa Road Dualisation Project

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                                      Iraq’s Development Road: A New Contender in Global Trade Routes?

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                                      Iraq Launches $400–600M Tender for Baghdad Airport Development

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                                      Oman’s Al Dhahirah EZAD Sets Sights on Regional Prominence with Seven Strategic Deals

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                                      Iraq to Establish Four New Desalination Plants in Basra

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                                      Over 111 km of Internal Road Projects Underway in Oman’s Al Dhahirah Municipality

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                                      Saudi Arabia Leads Middle East’s Strategic Push into $600 Billion Global Sports Economy

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                                      Iraq to Open Three Major Airports in 2025

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                                      Home Business & Economy Economy

                                      Sale of construction materials in Iran increased by 12%

                                      Financial Tribune

                                      March 9, 2017
                                      in Economy, Infrastructure
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                                      Eminent economists recently discussed Iran’s economic outlook for the upcoming Iranian year, which starts on March 21, 2017, at a conference held in Tehran.

                                      The conference's first speaker was Mehdi Barakchian, deputy for research at the Institute for Management and Planning Studies, who said Iran’s industrial sector will be a major contributor to growth during the new fiscal year.

                                      “Industrial firms listed in Tehran Stock Exchange have witnessed positive growth in sales in the current Iranian year. Their growth reached 16% in the third quarter. This is while last year, sales and production registered negative growth during most of the period,” he said.

                                      The industrial sector, according to Barakchian, has been a major contributor to the strong growth experienced so far this year.

                                      Iran's economic growth for three quarters of the current fiscal year (March 20-Dec. 20, 2016) stood at 7.2%, according to the Statistical Center of Iran. Excluding the growth in oil sector, the rate stood at 5%.

                                      According to SCI, the industrial sector was the main driver of economic growth during the period, expanding by 10.5%.

                                      The recent economic growth in Iran owes greatly to the removal of sanctions against the country, especially against its oil sector, as part of the nuclear deal Tehran signed with world powers in 2015, which opened up Iran's economy to the world.

                                      The SCI report on Iran's economic growth for the first half of the year showed that the oil sector registered the highest increase in GDP in the period with a growth of 61.3%. A 55.4% and 67.2% growth was reached in the first and second quarters respectively.

                                      Nonetheless, Barakchian believes the effect of oil in the upcoming year's growth will wane, as production will stabilize after it surged following the removal of sanctions. He said Iran's gross domestic product will be influenced by growth in other sectors such as manufacturing, construction and agriculture instead.

                                      According to government data, Iran is now pumping more than 3.9 million bpd of crude oil and condensates and the output is expected to reach the 4-mbpd mark in April, the level it used to ship before the tightening of sanctions. Oil exports stand at around 2.8 million bpd.

                                      Production peaked at 4.2 million bpd for a short spell before the international sanctions were tightened against Tehran in 2011 and 2012.

                                      Iran is now the third-largest OPEC producer behind Saudi Arabia and Iraq, which pump around 10 million bpd and 4.5 million bpd respectively.

                                      However, according to Barakchian, oil will not have the positive effect on growth in the next Iranian year. GDP will be influenced by growth in other sectors such as manufacturing, construction and agriculture.

                                      Meanwhile, the lecturer at Sharif University considered the after-effects of new Donald Trump's presidency, the upcoming presidential election in Iran, and the ailments in Iran's banking sector as the main instigators of uncertainty for Iran's economy in the coming year.

                                      He also believes Iran's economic growth in the new year hinges on proper implementation of the nuclear deal, growth in global prices of commodities, growth in the domestic gas production as well as growth in demand.

                                      Promising Signs in Housing Market
                                      The use of idle capacities in the oil sector helped push growth figures up in 2016/17 and this is likely to be the case for industrial and construction sectors in the coming year.

                                      Barakchian said the housing market is showing signs of improvement, following years of slowdown.

                                      “There are signs that investment in the housing market is on the rise. For the first time in two years, sales of construction materials saw a 12% rise in Q3, compared with the similar period of a year before,” he said, referring to a 5% increase in production of those materials.

                                      According to the expert, the number of construction permits issued since March 2016 has grown for the first time after two years.

                                      Statistics released by the Central Bank of Iran and the Statistical Center of Iran show that the housing sector slipped into recession from March 20, 2012, and experienced negative growth rates ever since.

                                      This recession has persisted through 2015-16 and is expected to continue until the end of the current fiscal year, meaning that the housing sector’s stagnation has turned into a five-year recession.

                                      Hossein Abdoh-Tabrizi, senior economist and advisor to Iran’s Minister of Roads and Urban Development Abbas Akhoundi, told the conference that the recession has been a result of bad policies such as shifting construction loans from small dwellings to commercial complexes.

                                      “This has led to a glut in the housing market, a surplus in the number of empty houses and an illogical rise in commercial construction,” he said.

                                      Abdoh-Tabrizi noted that the recent rise in the sales and production of materials is associated with small housing units, suggesting that housing market is witnessing a “shift in paradigm” and that the price bubble in the housing sector may become a thing of the past.

                                      The IEOC is organized every year with the aim of helping investors take effective decisions while providing them with crucial information to encounter the challenges ahead.

                                      CBI advisor Hamid Qanbari and director-general of the office of planning and economy at the Ministry of Roads and Urban Development, Ali Chegini, also spoke at this year's event.

                                      Iran’s economy emerged from recession two years ago (the fiscal March 2014-15) with a 3% growth. The rebound followed two years of recession when the economy contracted 5.8% and 1.9% back to back, according to the Central Bank of Iran. Last year's (ended March 2016) growth was put at 0.9% by the Statistical Center of Iran.

                                      The International Monetary Fund has projected in its latest report that Iran’s economic growth will stabilize at 4.5% over the medium-term, as the country’s recovery broadens. Real GDP growth is expected to reach 6.6% in 2016/17 and to ease to 3.3% in 2017/18, as oil production remains close to the OPEC target, according to the report.
                                      Financial Tribune
                                      9 March

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