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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’s Madayn Draws Over $426 Million in Food Sector Investments

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    Qatar Ramps Up Food Production to Achieve Sustainability Goals

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    Saudi Arabia to Enforce New Food Labeling Rules for Restaurants and Cafés Starting July 1

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    Global Indoor Farming Market to Reach USD 108.6 Billion by 2035, Fueled by Sustainability and Urbanization Trends

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    Oman Embraces Precision Agriculture to Bolster Food Security and Sustainability

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    Africa to Launch Continental Food Safety Agency to Protect Public Health and Boost Trade

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      UAE Economy Poised to Grow 5.1% in 2025 — ICAEW

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      Iraq Plans Major Cement Industry Expansion with New Plants Producing 52 Million Tons Annually

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      UAE’s GDP Reaches $483 Billion in 2024, Fueled by Non-Oil Expansion

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      Oman Unlocks $28.6 Billion to Drive 10th Five-Year Plan

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      World Bank Forecasts 1.2% Economic Growth for Iraq in 2025

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      IMF Praises Oman’s Reform Momentum Amid Economic Growth

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      Oman’s Creative Economy: A Strategic Pillar for Diversification

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      Oman Launches $106.6M Facility to Reclaim Copper from Mining Waste

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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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        GCC Cement Market Forecasted to Reach 142.8 Million Tons by 2033, Growing at a 4.7% CAGR

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        Qatar’s Infrastructure Sector Set for Robust Growth and Investment Opportunities

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        Ashghal to Launch 10 New Drainage Projects in Q4 2025

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        Iraq Plans Major Cement Industry Expansion with New Plants Producing 52 Million Tons Annually

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        Oman Launches Tender for $3 Billion Mountain Resort in Jabal Al-Akhdar

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        Iraq Approves 1.5 Million Housing Units, Aiming for 5 Million by 2030

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        Qatar’s Ashghal Announces Completion of Roads, Infrastructure Development Project in Al Kharaitiyat, Izghawa

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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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          Oman Breaks Ground on $1.6 Billion Marsa LNG Project in Suhar

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          Iraq Targets 38,000 MW Power Boost with Siemens and GE Deals to Tackle Energy Shortages

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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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            Hamad Medical Corporation Receives Global Recognition with JCI Accreditation

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            Daewoong Pharmaceutical Debuts Nabotah Botulinum Toxin in Qatar

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            HMC Broadens Access to Mental Health Services Across Qatar

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            Qatar Launches AI-Driven Health Tourism Strategy to Position Doha as a Global Medical Travel Destination

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            The View Hospital Performs Qatar’s First AI-Designed Lens Implant, Pioneering Personalized Vision Care

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            Ebn Sina Medical and Novo Nordisk Strengthen Partnership to Launch Wegovy in Qatar

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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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              Oman’s Hotel Sector Sees Strong Growth in Revenues and International Guests

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              Middle East Tourism Spending Set to Reach $350 Billion by 2030, Driven by Luxury, Sports, and Business Travel Boom

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              Qatar’s Evolving Culinary Landscape Gains Global Attention as a Tourism Driver

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              Qatar’s Tourism Sector Adds $14.9 Billion to GDP in 2024, Marks 14% Growth

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              Qatar Launches AI-Driven Health Tourism Strategy to Position Doha as a Global Medical Travel Destination

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              Middle East Hotel Construction Activity Rises 8% in Q1 2025

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                Oman Recycles 2.4 Million Tonnes of Construction Waste in 2024

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                Printed Packaging Labels & Release Liners Set for Strong Global Growth

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                Global Coated Printing and Writing Paper Market to Reach 28 Million Tons and $33.2 Billion by 2035

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                    Baghdad Airport Upgrade Advances Through Public-Private Partnership

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

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                      Oman’s Madayn Draws Over $426 Million in Food Sector Investments

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                      Qatar Ramps Up Food Production to Achieve Sustainability Goals

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                      Saudi Arabia to Enforce New Food Labeling Rules for Restaurants and Cafés Starting July 1

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                      Oman Embraces Precision Agriculture to Bolster Food Security and Sustainability

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                        UAE Economy Poised to Grow 5.1% in 2025 — ICAEW

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                        Iraq Plans Major Cement Industry Expansion with New Plants Producing 52 Million Tons Annually

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                        UAE’s GDP Reaches $483 Billion in 2024, Fueled by Non-Oil Expansion

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                        Oman Unlocks $28.6 Billion to Drive 10th Five-Year Plan

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                        World Bank Forecasts 1.2% Economic Growth for Iraq in 2025

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                        IMF Praises Oman’s Reform Momentum Amid Economic Growth

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                        Oman’s Creative Economy: A Strategic Pillar for Diversification

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                        Oman Launches $106.6M Facility to Reclaim Copper from Mining Waste

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                          GCC Cement Market Forecasted to Reach 142.8 Million Tons by 2033, Growing at a 4.7% CAGR

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                          Qatar’s Infrastructure Sector Set for Robust Growth and Investment Opportunities

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                          Ashghal to Launch 10 New Drainage Projects in Q4 2025

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                          Retrofitting Old Buildings for a Sustainable Future

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                          Iraq Plans Major Cement Industry Expansion with New Plants Producing 52 Million Tons Annually

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                          Oman Launches Tender for $3 Billion Mountain Resort in Jabal Al-Akhdar

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                          Iraq Approves 1.5 Million Housing Units, Aiming for 5 Million by 2030

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                          Qatar’s Ashghal Announces Completion of Roads, Infrastructure Development Project in Al Kharaitiyat, Izghawa

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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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                            Oman Breaks Ground on $1.6 Billion Marsa LNG Project in Suhar

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                            Iraq Targets 38,000 MW Power Boost with Siemens and GE Deals to Tackle Energy Shortages

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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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                              Hamad Medical Corporation Receives Global Recognition with JCI Accreditation

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                              Daewoong Pharmaceutical Debuts Nabotah Botulinum Toxin in Qatar

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                              HMC Broadens Access to Mental Health Services Across Qatar

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                              Qatar Launches AI-Driven Health Tourism Strategy to Position Doha as a Global Medical Travel Destination

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                              The View Hospital Performs Qatar’s First AI-Designed Lens Implant, Pioneering Personalized Vision Care

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                              Ebn Sina Medical and Novo Nordisk Strengthen Partnership to Launch Wegovy in Qatar

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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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                                Oman’s Hotel Sector Sees Strong Growth in Revenues and International Guests

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                                Middle East Tourism Spending Set to Reach $350 Billion by 2030, Driven by Luxury, Sports, and Business Travel Boom

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                                Qatar’s Evolving Culinary Landscape Gains Global Attention as a Tourism Driver

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                                Qatar’s Tourism Sector Adds $14.9 Billion to GDP in 2024, Marks 14% Growth

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                                Qatar Launches AI-Driven Health Tourism Strategy to Position Doha as a Global Medical Travel Destination

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                                  Packaging Becomes Lifeline for Struggling Print Industry

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                                  Oman Recycles 2.4 Million Tonnes of Construction Waste in 2024

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                                  Printed Packaging Labels & Release Liners Set for Strong Global Growth

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                                      Qatar’s Infrastructure Sector Set for Robust Growth and Investment Opportunities

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                                      Baghdad Airport Upgrade Advances Through Public-Private Partnership

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                                      Home Business & Economy Economy

                                      Looking to Suez expansion for economic growth in Egypt

                                      Oxford Business Group

                                      September 18, 2014
                                      in Economy, Infrastructure
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                                      Hopes are rising that a $4bn project to widen the Suez Canal will provide Egypt with a boost in construction activity, while also significantly raising revenue in the longer term.

                                      The Suez Canal brings in around $5bn in revenue annually and has evolved into one of the world’s most strategically important international trade conduits since it opened almost 150 years ago. Today, the waterway is still the quickest sea route between Europe and Asia.

                                      Egypt’s challenging economic environment has led officials to refocus their efforts on expanding and upgrading the canal. Estimates suggest that revenue from the waterway could increase to $13.5bn once the work is completed, although some aspects of the project, including its location, have come under criticism.
                                       
                                      Expansion to improve efficiency
                                      Egypt’s army will coordinate the work on the initiative, known as the Suez Canal Corridor Development Project, which was launched on August 5 by President Abdel Fattah Al Sisi. The initiative will involve 35km of dry digging and 37km of “expansion and deepening”, according to Mohab Mamish, the head of the Suez Canal Authority. This will see the canal’s waterway widened, creating a much longer stretch of “dual carriageway” where ships can pass more easily.

                                      The expansion should lead to increased efficiency as well as a reduction in the maximum waiting time from 11 to three hours. The number of passing ships that can be handled daily will almost double to 97.

                                      Various press reports have said the forecast time scale for the expansion has been reduced from five years to three years and eventually to an unlikely 12 months. The project is being part funded by investment certificates issued by the authority and cash will also be raised from floating shares and loans from Egyptian banks. The president also called on all Egyptians to participate in funding the project, asking local residents to contribute EGP 100 ($14) and those living abroad to donate $100.
                                       
                                      Local participation, national boost
                                      While the public sector is coordinating the project, dozens of local companies are expected to participate in the expansion initiative, which officials see as an aid to strengthening the fragile recovery.

                                      Egypt’s economy has struggled in recent years, weighed down by lower growth and a widening budget deficit. Foreign reserves have also come under severe pressure. GDP is expected to rise by just 2.3% in 2014, while the budget deficit has reached 14% of GDP.

                                      The army has been set the target of digging 1m cu meters daily as part of the bid to complete the work within 11 months and introduce trial runs of vessels in the new stream within a year. A total of 12m cu meters were dug in the first fortnight, according to a statement from the military.
                                       
                                      Mixed reactions
                                      However, while work on the expansion is gaining momentum, aspects of the project have also elicited concerns. Haitham Awad, an engineering professor at Alexandria University, questioned the decision to put the new route so close to the existing canal, telling regional press that the presence of groundwater, which has already disrupted digging, would increase costs.

                                      The extent to which the widening of the Suez will stimulate traffic volumes is also contingent on growth in international trade, which has been sluggish in recent years following the 2008 global financial crisis. As a result, it may take Egypt longer than anticipated to reach its revenue goals.

                                      However, assuming trade recovers, the Suez Canal expansion could play a key role in kickstarting long-term growth, producing a knock-on effect across Egypt’s economy, especially in industry and logistics.

                                      Plans to develop a 76,000-sq-km area around the canal into a global industrial and logistics center, which have long been in the making, are also moving forward. On August 19, the Suez Canal Authority announced that it had awarded the contract to construct an industrial and logistics “hub” – part of the Suez Canal Corridor Development project – by the canal to a consortium including Bahrain-registered consultancy firm Dar Al Handasah Shair and Partners, in partnership with the armed forces. Egypt already benefits from fairly competitive infrastructure networks for exporters, but the zone will ensure easy access to shipping facilities.

                                      Details of the investment and a timeframe for the industrial and logistics zone have yet to be announced. However, there is a cautious optimism that Egypt could finally be moving forward with a development that will see it leverage its enviable strategic position to boost economic growth and generate new jobs.
                                      Oxford Business Group
                                      18 September

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