Innovation i tech High

WHITE PAPER ON UAE's STATE OF MANUFACTURING
openings to investors. The
contracts are open for both
local and international firms.
As part of Saudi Arabia’s
Vision 2030 strategy, the
government has outlined
infrastructure projects
spanning the power, water,
hydrocarbons, construction,
road, rail, seaport and airport
sectors.
the oil sector. Emirates NBD
predicted that the UAE’s
economy would register a
3.4 per cent growth this year,
compared to 3 per cent in
2016. Tourism has had a huge
role to play in laying the base
and acting the launch pad for
growth in the Non-Oil Sectors.
Riyadh overlooked its strict
social code and announced
projects to be completed by
late 2018. Overall, more than
$200 billion has been assigned
for the tournament-related
projects. With such strong
base to support the hospitality
industry, the hotel market in the
Middle East remains robust and
is open to investment too.
Linking a country’s infrastructure
to its business potential and
Now pioneering into an all new kind of real estate, the
city and the surrounding is all set to attract a whole
new bunch of creative professionals, designers and
entrepreneurs.
The country has been
spending huge on the
power sector, mainly
renewable energy. Looking
for sustainable means of
development clearly shows
intent of ascending beyond
the conventional in the long
run. Saudi Arabia is expected
to launch a renewable energy
programme between 2017
and 2023 to produce 10
gigawatts of power. This
involves an investment of
between $30 and $50 billion.
Growing stability of oil market
and heavy investment in
tourism in the Middle East,
coupled together, give
strength to the currency and
invites major investment flow
to the region. Growth in the
Oil Markets has been the key
driver for economic growth
in the area. However, non-oil
sectors are growing multifolds
to compete closely with
plans in April 2017 to build
the kingdom’s largest
entertainment, cultural and
sports city near the capital.
The project is scheduled to
begin in 2018, with the first
phase expected to open
in 2022. The government
revealed that about $500
million is being spent every
week on the infrastructure
projects associated with
the FIFA event. With 90 per
cent of the contracts already
awarded, Doha expects
two-thirds of the World Cup
performance shall be the
wisest thing to do, when talking
about the UAE. The Middle
East has seen exponential
growth in regions like Dubai,
Doha and Abu Dhabi, wherein
the early birds and globally
aware investors have flagged
the win, while scoring great
profits due to their investment
in the knowledge market. With
such great growth prospects
appearing again at the upfront,
this chance to invest is a must
not miss.
INNOVATIONANDTECH
January | 2018
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