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

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

    Green Certifications: A Strategic Imperative for GCC Food Producers

    Green Certifications: A Strategic Imperative for GCC Food Producers

    UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

    UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

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

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

    Oman Grants Licences to 24 Integrated Aquaculture Farms in 2024

    Oman Grants Licences to 24 Integrated Aquaculture Farms in 2024

    Global Agrifood Systems Require $1.1 Trillion Annually to Achieve Sustainability Goals by 2030

    Global Agrifood Systems Require $1.1 Trillion Annually to Achieve Sustainability Goals by 2030

    FAO Report Highlights Severe Agricultural Land Degradation Across the Arab Region

    FAO Report Highlights Severe Agricultural Land Degradation Across the Arab Region

    Oman: Over 250 Model Farms Drive Fruit Production Growth in Dhahirah

    Oman: Over 250 Model Farms Drive Fruit Production Growth in Dhahirah

    Africa: From Food Importer to Global Powerhouse

    Africa: From Food Importer to Global Powerhouse

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      • Economy
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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

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

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

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

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

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

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

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

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

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

      Emerging Trends Reshape GCC’s Rapidly Growing Retail Sector

      Emerging Trends Reshape GCC’s Rapidly Growing Retail Sector

      Consumer Electronics Boom Continues Across GCC, Middle East

      Consumer Electronics Boom Continues Across GCC, Middle East

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

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

      Oman Signs $520 Million Salt Mining Deal as Part of Mining Sector Expansion

      Oman Signs $520 Million Salt Mining Deal as Part of Mining Sector Expansion

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

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

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

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

        UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

        UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

        Iraq to Establish Four New Desalination Plants in Basra

        Iraq to Establish Four New Desalination Plants in Basra

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

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

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

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

        Whitewill Expands into Oman’s Real Estate Market Amid Rising Foreign Investment

        Whitewill Expands into Oman’s Real Estate Market Amid Rising Foreign Investment

        Iraq to Develop 60 New Cities to Address Housing Crisis

        Iraq to Develop 60 New Cities to Address Housing Crisis

        Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

        Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

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

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

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

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

          Oman Seeks Bids for Two Major Substation Projects

          Oman Seeks Bids for Two Major Substation Projects

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

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

          Qatar 2025: From Energy Powerhouse to Innovation Leader

          Qatar 2025: From Energy Powerhouse to Innovation Leader

          Iraq Aims for 12 GW of Renewable Energy by 2030

          Iraq Aims for 12 GW of Renewable Energy by 2030

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

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

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

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

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

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

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

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

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

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

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

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

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

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

            Qatar and the UK Explore Deeper Cooperation in Healthcare

            Qatar and the UK Explore Deeper Cooperation in Healthcare

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

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

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

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

            Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

            Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

            Hamad Medical Corporation Receives Global Recognition with JCI Accreditation

            Hamad Medical Corporation Receives Global Recognition with JCI Accreditation

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

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

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

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

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

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

              Oman Awards Over $600 Million in Contracts for Tourism Expansion

              Oman Awards Over $600 Million in Contracts for Tourism Expansion

              Qatar Expands Role as a Leading Global Tourism Destination

              Qatar Expands Role as a Leading Global Tourism Destination

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

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

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

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

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

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

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

              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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                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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                Packaging Becomes Lifeline for Struggling Print Industry

                MENA’s Coated Printing and Writing Paper Market Forecast to Grow 1.6% Annually Through 2035

                MENA’s Coated Printing and Writing Paper Market Forecast to Grow 1.6% Annually Through 2035

                Oman Recycles 2.4 Million Tonnes of Construction Waste in 2024

                Oman Recycles 2.4 Million Tonnes of Construction Waste in 2024

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                  Technological and Sustainable Innovation Drives Growth in Digital Printing

                  Technological and Sustainable Innovation Drives Growth in Digital Printing

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

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

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

                  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

                  Consumer Electronics Boom Continues Across GCC, Middle East

                  Consumer Electronics Boom Continues Across GCC, Middle East

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

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

                  The Top 10 Emerging Technologies for 2025

                  The Top 10 Emerging Technologies for 2025

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

                  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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                    Iraq to Establish Four New Desalination Plants in Basra

                    Iraq to Establish Four New Desalination Plants in Basra

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

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

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

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

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

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

                    Iraq to Open Three Major Airports in 2025

                    Iraq to Open Three Major Airports in 2025

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                    Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

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                    Major Road Infrastructure Upgrades Underway in Oman’s Dhofar Governorate

                    Baghdad Metro Project Moves Forward Under New Implementation Strategy

                    Baghdad Metro Project Moves Forward Under New Implementation Strategy

                    Iraq Launches New US$930 Million Railway Project to Strengthen Connectivity and Drive Economic Growth

                    Iraq Launches New US$930 Million Railway Project to Strengthen Connectivity and Drive Economic Growth

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

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

                      Green Certifications: A Strategic Imperative for GCC Food Producers

                      Green Certifications: A Strategic Imperative for GCC Food Producers

                      UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

                      UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

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

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

                      Oman Grants Licences to 24 Integrated Aquaculture Farms in 2024

                      Oman Grants Licences to 24 Integrated Aquaculture Farms in 2024

                      Global Agrifood Systems Require $1.1 Trillion Annually to Achieve Sustainability Goals by 2030

                      Global Agrifood Systems Require $1.1 Trillion Annually to Achieve Sustainability Goals by 2030

                      FAO Report Highlights Severe Agricultural Land Degradation Across the Arab Region

                      FAO Report Highlights Severe Agricultural Land Degradation Across the Arab Region

                      Oman: Over 250 Model Farms Drive Fruit Production Growth in Dhahirah

                      Oman: Over 250 Model Farms Drive Fruit Production Growth in Dhahirah

                      Africa: From Food Importer to Global Powerhouse

                      Africa: From Food Importer to Global Powerhouse

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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

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

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

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

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

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

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

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

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

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

                        Emerging Trends Reshape GCC’s Rapidly Growing Retail Sector

                        Emerging Trends Reshape GCC’s Rapidly Growing Retail Sector

                        Consumer Electronics Boom Continues Across GCC, Middle East

                        Consumer Electronics Boom Continues Across GCC, Middle East

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

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

                        Oman Signs $520 Million Salt Mining Deal as Part of Mining Sector Expansion

                        Oman Signs $520 Million Salt Mining Deal as Part of Mining Sector Expansion

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

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

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

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

                          UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

                          UAE Highlights Sustainable Breakthroughs in Cloud-Seeding Technology

                          Iraq to Establish Four New Desalination Plants in Basra

                          Iraq to Establish Four New Desalination Plants in Basra

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

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

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

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

                          Whitewill Expands into Oman’s Real Estate Market Amid Rising Foreign Investment

                          Whitewill Expands into Oman’s Real Estate Market Amid Rising Foreign Investment

                          Iraq to Develop 60 New Cities to Address Housing Crisis

                          Iraq to Develop 60 New Cities to Address Housing Crisis

                          Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

                          Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

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

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

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

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

                            Oman Seeks Bids for Two Major Substation Projects

                            Oman Seeks Bids for Two Major Substation Projects

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

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

                            Qatar 2025: From Energy Powerhouse to Innovation Leader

                            Qatar 2025: From Energy Powerhouse to Innovation Leader

                            Iraq Aims for 12 GW of Renewable Energy by 2030

                            Iraq Aims for 12 GW of Renewable Energy by 2030

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

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

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

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

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

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

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

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

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

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

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

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

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

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

                              Qatar and the UK Explore Deeper Cooperation in Healthcare

                              Qatar and the UK Explore Deeper Cooperation in Healthcare

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

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

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

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

                              Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

                              Sidra Medicine Pioneers Holistic, Culturally Sensitive Fertility Care in Qatar

                              Hamad Medical Corporation Receives Global Recognition with JCI Accreditation

                              Hamad Medical Corporation Receives Global Recognition with JCI Accreditation

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

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

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

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

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

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

                                Oman Awards Over $600 Million in Contracts for Tourism Expansion

                                Oman Awards Over $600 Million in Contracts for Tourism Expansion

                                Qatar Expands Role as a Leading Global Tourism Destination

                                Qatar Expands Role as a Leading Global Tourism Destination

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

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

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

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

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

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

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

                                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

                                  Technological and Sustainable Innovation Drives Growth in Digital Printing

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

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

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

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

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

                                  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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                                  Packaging Becomes Lifeline for Struggling Print Industry

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                                  MENA’s Coated Printing and Writing Paper Market Forecast to Grow 1.6% Annually Through 2035

                                  Oman Recycles 2.4 Million Tonnes of Construction Waste in 2024

                                  Oman Recycles 2.4 Million Tonnes of Construction Waste in 2024

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                                    Technological and Sustainable Innovation Drives Growth in Digital Printing

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

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

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

                                    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

                                    The Top 10 Emerging Technologies for 2025

                                    The Top 10 Emerging Technologies for 2025

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

                                    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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                                      Iraq to Establish Four New Desalination Plants in Basra

                                      Iraq to Establish Four New Desalination Plants in Basra

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

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

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

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

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

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

                                      Iraq to Open Three Major Airports in 2025

                                      Iraq to Open Three Major Airports in 2025

                                      Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

                                      Turkey Set to Gain $50 Billion from Major Iraqi Infrastructure Project

                                      Major Road Infrastructure Upgrades Underway in Oman’s Dhofar Governorate

                                      Major Road Infrastructure Upgrades Underway in Oman’s Dhofar Governorate

                                      Baghdad Metro Project Moves Forward Under New Implementation Strategy

                                      Baghdad Metro Project Moves Forward Under New Implementation Strategy

                                      Iraq Launches New US$930 Million Railway Project to Strengthen Connectivity and Drive Economic Growth

                                      Iraq Launches New US$930 Million Railway Project to Strengthen Connectivity and Drive Economic Growth

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                                      Home Business & Economy Economy

                                      New investment law emerges to regulate rhythm of Egypt’s economy

                                      Daily News Egypt

                                      January 16, 2017
                                      in Economy, Finance
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                                      The Egyptian economic authorities are racing against time to regulate the rhythm of the economic scene. The cabinet had recently approved the new investment draft law through which it hopes to attract more investments that contribute to increasing employment and economic growth.

                                      Leaders of businesses see that the law is “good”; however, it is not enough to reassure the local and international business communities that are still suffering while issuing operations licenses and allocating lands, in addition to the recent increase in the financing costs.

                                      Minister of Investment Dalia Khorshid said that the new law stands as a quantum leap in handling the issue of investment, as it reassures local and international investors about their money and stimulates investment through new customs and tax incentives for projects that create added value and employ a significant numbers of laborers.

                                      The minister continued saying that the law is a manifestation of the importance of the investment issue for the state now, and also shows the government’s keenness on setting a balanced legislative framework contributing to establishing more investments and enabling current investors to expand in their businesses.

                                      She added that the law provides a programme of real incentives to attract more local and foreign investments and also strengthens investment guarantees, as it provides an effective system to overcome all the obstacles facing investors.

                                      The new law, according to the minster, encourages investment to increase the rates of local production, which contributes to increasing the rate of local components used in production.

                                      Egypt is suffering from a weak inflow of foreign direct investments since January 2011 which was followed by political and economic unrests and has caused Egypt’s US dollar resources to decline, which actually come through foreign investments, Suez Canal revenues, exports, tourism, and remittances.

                                      Regarding the importance of the law, Khorshid said that the law in its current form includes decisive measures that put an end to routine and bureaucracy. Also, it has overcome the contradictions in the regulations and legislations ruling and regulating economic activity.

                                      She continued saying that the new law is a victory for investors and the business community and that it will contribute to increasing production rates with the aim of exporting and creating thousands of jobs for youth, besides pushing the economic growth rate upwards.

                                      Khorshid believes that the law, which is being reviewed by the State Council shortly before being presented to parliament for approval, will contribute to achieving the goals of the government’s economic reform programme and Sustainable Development Strategy: Egypt Vision 2030.

                                      According to the minister, the law includes several articles simplifying procedures and granting licenses. It regulates this issue in about 39 articles; nine of which address the establishment and the services of post-establishment; about 15 articles of which address licenses, permits, and approvals; and about 15 of which address regulating real estate, which contributes to accelerating the pace of starting businesses and carrying out operations by companies.

                                      Also, the law regulates the process of settling disputes in about 10 articles, most of which focus on finishing the process as soon as possible and the limits of reconciliation, in a way that does not hamper the rights of serious investors and at the same time, does not waste public money.

                                      The draft law set a number of determining factors to ensure achieving the goal behind the new legislation in attracting more local and foreign investments and preparing the environment of doing business, as it also includes a package of guarantees and incentives for investors.

                                      Moreover, it has stipulated mechanizing the services offered to investors, which saves time and effort. Additionally, it has set a new strategy for promoting investment outside of Egypt. It has regulated the crisis of licenses and allocating lands and activated the mechanism of disputes with investors.

                                      New incentives and advantages in the law
                                      The law’s final draft includes new investment incentives, such as exempting all investment projects from the stamp tax, registration fees for the contracts of establishing companies, and the contracts of registering the lands needed for establishing them for five years starting from the date of registering them in the commercial registry.

                                      Moreover, these projects will benefit from the 2% unified customs tax, in parallel to establishing technological zones in the fields of information technology and communications.

                                      Temporary incentives for three years from the date of application
                                      The law has granted new, however temporary, incentives. It has divided the areas in which investments are decided to be established into two areas: zone A (Upper Egypt and areas most in need) and zone B (the rest of Egypt). Investment projects in zone A will benefit from an investment cost deduction of 40%, with a maximum of 80% of paid capital. Those will also benefit from a tax deduction for seven or more years. As for zone B, investment projects there will benefit from a deduction of 30% of the investment cost. This also includes the Suez Canal Economic Zone. These areas grant a package of incentives for different sectors, including medium-cost education and projects producing and distributing electricity.

                                      The law has also enabled establishing customs outlets for the exports or imports of investment projects. It has enabled the state to pay the cost or part of the cost of installing some additional utilities for some projects and to allocate lands for free for some strategic industries addressed in the law for three years.

                                      New guarantees for investors
                                      The final version of the law seeks to achieve equality in terms of incentives and guarantees provided to Egyptian and foreign investors, in a way that guarantees the creation of a climate attractive for investments.

                                      Moreover, it protects investment projects from arbitrary decisions, such as nationalization, expropriation, and cancellation of licenses to expand projects, as well as encourages more projects to serve the Egyptian economy.

                                      The law gives investors the right to transfer the profits of investment projects abroad, and facilitates the liquidation of and exit from projects, in addition to allowing investors to import any raw materials or production requirements without the need to be registered onto the importers’ registry, while providing necessary statistics and data to any investor to complete the investment project. It also allows establishing new agencies to price lands to avoid long-term procedures, and setting new pricing standards that include not overestimating the land value and finishing the pricing process within 30 days.

                                      The law also provides investors with the right to obtain necessary property to continue their activities or expand in them, regardless of the nationality of partners or contributors or where they live, while establishing investment departments in all branches of the General Authority for Investment and Free Zones to deal with the requests of investors.

                                      The law specified 10 and 60 days to issue approvals for permits and licenses, with the introduction of accreditation offices to facilitate the obtainment of licenses, and issuing a guide for investors, including all conditions, procedures, and timings of establishing companies and obtaining necessary permits.

                                      The new law has created a new incentive called “Golden License”, which allows strategic or national projects to obtain one permit to establish and operate projects, including construction licenses and land allocation with the activation of a unified approved number for all the dealings between investors and different state agencies.

                                      Facilitating procedures
                                      Under the title “Facilitating Procedures”, the law has set standards to allow facilitating the procedures of the obtainment of licenses, as within 90 days from the date of approving the new law, the system of electronic services, business, and databases in all agencies will be activated.

                                      The law obliges all authorities concerned with looking into requests to establish companies to decide on them within 24 hours. Companies gain their corporate personality once the certificate to establish it is issued. Moreover, to guarantee a fast delivery of services, the authority will issue decisions without being bound by any procedures stipulated in other laws.

                                      To activate the dispute mechanisms with investors in the new law, the decisions of the ministerial committee to settle investment disputes have executive power without breaching the investors’ right to resort to the judiciary.

                                      The new version of the law allows the establishment or a contribution in the establishment of companies to promote available investment opportunities internally and externally and keep up with the latest global investment promotion systems.

                                      In terms of social responsibility, the draft law allowed investors to allocate part of their annual profits for social services in healthcare, social and cultural fields, supporting vocational education, or financing research studies and community outreach campaigns.

                                      We need a legislative revolution to stimulate investment, say investors
                                      Hussein Sabbour, former chairperson of the Egyptian Businessmen Association and an investor in the real estate sector, commented that the new law is good, but insufficient, and that Egypt needs a legislative revolution in everything regulating and governing economic activity in the country, because we have laws that have not been reviewed for many years.

                                      Sabbour added that the law stipulates forming committees to decide on the allocation procedures of investment lands which was a step that had been delayed for a very long time. This will accelerate allocating lands to investors, but Sabbour was concerned that the allocation process will remain slow, especially after the process of allocating lands was assigned to many parties instead of one. This contradicts what had been previously said about activating the one-stop shop mechanism.

                                      He noted that the cost of economic activity inflated after recently liberalizing the US dollar exchange rate, which obliges the government to establish incentivized procedures for investors to expand their business in order to face the declining demand on the purchase of products due to current price hikes.

                                      “The bankruptcy law is a good step as a mechanism to ensure investors’ rights while exiting from the market, but the interest rates increase the burdens of financing costs. The interest rate was increased by the Central Bank of Egypt (CBE) by roughly 3% to exceed 15%,” Sabbour said.

                                      Mohamed Taymour, an economist and founder of Pharos Holding, said that the law is required, but that public servants must be granted the authority to eliminate bureaucracy, stimulate investment, help companies implement new expansions, and open the way for other companies to inject new investments.

                                      Taymour said that the activation and speedy application of the law will define its success, and that there should be a law to protect public servants and grant them all authorities, and not to hold them criminally responsible for administrative mistakes.

                                      He pointed out that the law includes positive points, such as the direction of the General Authority for Investment and Free Zones to set up an authority to promote investment abroad to reassure the international business community on the development of economic conditions in the country. He noted that we also need to reassure local investors, because domestic investor expansion is great evidence for the improvement of the business environment in the country.
                                      Daily News Egypt
                                      16 January

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