Getting Smart With: Foreign Direct Investment In The Middle East Riyadh And Dubai Portfolio One of the Challenges with the GCC will not be easy. As an alternative to existing programs like Job Promotion Bahrain, other Gulf Cooperation Council-member states like Kuwait and Saudi Arabia could also find themselves lacking the funds or resources to establish new projects. The number of firms like Oman and Saudi Arabia employing Indian executives and lawyers will be dwindling. The government did plan to launch HMOs in the Gulf through 2022 aimed at finding projects and investing in projects, but in turn Saudi Arabia remains wary of any Gulf development plans that can bring new investment and competitiveness. “The United Arab Emirates has two very good prospects since the Arab Spring,” Abdullah al-Hamidi told the Arab News Agency (AAP) in June 2017.
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Many Emiratis prefer countries that are more friendly towards Qatar and will seek to join the GCC as a partner and thereby form a fair trade partner: Under the GCC, “UAEs will join the GCC to keep their economic and strategic interests aligned,” bin Hamidi said. “Our stance would remain the same,” he added. Both Saudi Arabia and Qatar have been aggressive in diverting funds from the program: Jordan took in $21.6 billion between 2007 and 2016 for the US-based Qatari and Emirati projects, and also invested in 30 oil-field projects, said Ahmed Al-Badhan, director of the Bin Hub Investment Center at the New York-based Arab Investment Management Group. They have also been investing in several oil-field companies set up since 2003, which are for the Arabian oil and gas industry.
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Other Gulf GCC firms have already announced projects on which they have invested in, including the development of several large American-backed projects. This is the third time in five years that Bahrain has announced plans to establish a relationship with US-led Saudi Arabia. Salman al-Nimrisi, a top Saudi banker, also promised to invest $17.7 billion in Saudi Arabia in 2016, even though Saudi Arabia still has the right to cut costs when it needs it. The Saudi investment, Riyadh and Dubai reported, puts it on track to tap new companies to create US jobs and more efficient investment in its neighbors in two years.
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In response to Saudi Arabia’s $43.3 billion increase in its gas revenues from 2015 through 2022, the firm announced it is moving one of its oil fields into Dubai. The Qatar Investment and Training Center is the largest holding company in the Al Arabiya Group group (AKAFG). It was formed to compete with the Indian-based Jeddah Investment Center, a well-known consultancy that is generally profitable. According to Abu Jahiri, AKAFG operations director at Middle East Forum (MEG), the company has 17 centers in four countries, including eight in Qatar, and has many subsidiaries in Qatar.
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The center, which supports up to 800 construction and financial functions, has made investment in US firms such as Coca-Cola to support its investments in the Gulf region. Alsip Ahmed, director of the Global Entrepreneurship Association at Doha Council, tells Al Jazeera: “Doha Council is invested in our natural resources, our energy rights, our financials, etc. The only area where these investments exceed 80 percent is our public works. We invest in development like Read Full Article we work on in Qatar, where we innovate while making money. We invest in infrastructure where we don’t rely on private hands.
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” The UAE also made an investment in Saudi Arabia through the 2022 program, and has shown a good track record with implementing new projects like the World Bank. Doha Council, with investments of $3.60 billion, had been working closely with Gulf Arab state Gulf development companies and institutions to attract bids during 2016. Currently 38 UAE-based company, ASEA, is for human resources at many other Emiratis, and they are also looking at the UAE for global initiatives. These include the UAE having invested in the oil and gas sector of Saudi Arabia.
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Bilateral investment is expected to hit $39-40 billion by 2022, according to ASEA.
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