Morocco increases exploitation of natural resources

Due to rising investments the Moroccan productionof phosphate and derivatives isincreasing significantly. In September 2011,phosphate rock prices were 40% higher thanat the beginning of the year. The MoroccanBanking Group has a monopoly on phosphatemining and plans to invest EUR 8.7bn in mining between 2010 and 2020. In additionvarious infrastructure projects areplanned to support the industry. For example,a phosphate slurry pipeline to be constructedby a Turkish firm is scheduled to operative in 2013, and there are alreadyplans to construct a second pipeline. Theindustry not only fuels economic growth butoffers various job opportunities for youngpeople. As one of the world’s largest producerof phosphates Morocco could profit fromthe high prices and increasing internationaldemand.

Oman’s increasing on the energy sector

Compared to the statistics from September2010, the Sultanate achieved an increase inoil production of 2.7% from 234.8m barrels,to 241.1m barrels in September 2011. Inaddition the oil price rose 33.3% from USD 76.58 to USD 102.06. By contrast, oilexports remained stable with a growth of0.1% to 198.6m barrels from 198.4m barrelslast year. Despite this development oilexports to China increased by 8.9% to 89.3m barrels this year. In comparison,exports to India increased by 0.3% from28.5m to 28.6m barrels. Additionally, Oman’snatural gas production increased by 6% to26m cubic metres from 24.6m last year.

MoU signed between Pakistan and China

Recently a Memorandum of Understandingwas signed between the Pakistan-ChinaBusiness Council and the Pakistan-ChinaInstitute in order to promote trade relationsbetween both countries. Pakistan and China agreed on intensifying bilateral trade relationsthrough closer cooperation by holdingseminars, conferences, research projects and in organising joint delegations and jointventures. They plan to organise trade fairs in China to promote economic cooperation andto inform participants about business opportunities. Furthermore, both parties are seekingto extend this cooperation further throughtrilateral consultation with other interested countries, including delegations from the privatesector as well as scholars interested inthe topics. Due to increasing regional cooperationboth countries wish to reinforce collaborationbetween Asian countries.

Growing information and communications sector in Qatar

Largely thanks to various development programmesthe information and communications sector in Qatar plays an important role.Until 2015, Qatar Broadband Companyplans to build a Qatar National BroadbandNetwork (QNBN), a high-speed fibre network.In 2008, only 41% of Qatari householdshad a broadband connection and in 2010 this percentage increased to 70%.Additionally, the telecom sector registered ahigh growth rate: in 2010 the mobile penetration rate was 167%, and represented oneof the highest worldwide. With the help of Qatar’s National ICT Plan 2015 the countryplans to create a knowledge-based economy.The sector’s contribution to the GDP andits workforce will double and broadbandinternet access is expected to be available to 95% of the population.

Qatar’s booming tourism sector

The currently huge number of constructionprojects mirrors the growth of the tourismsector in Qatar. This includes the constructionof hotels, hospitality services as well asentertainment centres. Previously, Qatar has heavily invested to improve and expand itsinfrastructure. One of the biggest projects isthe development of an international airport,which will have the capacity to handle 50mpassengers a year. During the next 11 years Qatar plans, to invest about USD 25bn in projects supporting the tourism sector.In contrast to other countries in the MiddleEast which have experienced a slow-downin the tourism sector due to the transformation process in North Africa, Qatar’s tourismbranch witnessed considerable growth in2011. Without doubt the 2022 FIFA WorldCup will play an important part in contributingto the growth of Qatar’s tourism sector. The event certainly demands further construction,but it is a challenge to maintain along-term vision. Thus, investors are anxiousto uphold the interest in Qatar as a holidaydestination.

Construction of world’s tallest building to begin soon

The building of the Kingdom Tower, theworld’s tallest skyscraper, is going to begin in January 2012. The 1,000m tall superscraper will trump the 828m-tall Burj Khalifa,currently the world’s tallest building. Saudi Binladin Group won the bidding for constructingthe tower. Creator of the highflyingproject is the Adrian Smith + Gordon Gill Architecture Agency, which alreadydesigned the Burj Khalifa. The Kingdom Tower will be located in Kingdom City, northof Jeddah, near the Red Sea and ObhurCreek. It will host a Four Seasons hotel, apartments, offices, three lobbies and the world’s highest observation desk on the157th floor. The Kingdom Holding Companyis the first investment firm of this aspiring project.

Saudi Arabia expects to see an increase in petrochemical sector by 2016

During the sixth annual forum of the GulfPetrochemicals and Chemicals Association, H.R.H. Prince Faisal Bin Turki Bin Abdulaziz,advisor at the Saudi Arabian Ministry ofPetroleum and Minerals, highlighted theexpectations of seeing an increase in Saudigas production, which will reach 15bn cubicfeet per day in 2016 compared to 7.7bncubic feet in 2002. Saudi Arabia is going tohave the largest network of refineries in the Middle East with a capacity of 3.5 bpd. Thekingdom’s gross production of petrochemicals,chemicals and plastics will peak at100m tons thanks to a total investment ofUSD 150bn in 2016. The kingdom aims tofurther develop its industry for creating employment opportunities for its domesticyouth population by increasing its revenues.