Category: Uncategorized

Peter Wong-Deputy Chairman and Chief Executive-HSBC

Smooth flows: Following tightening conditions in 2016, measures have been put in place to boost liquidity

Posted OBG AdminPosted in Uncategorized

  With Qatar in the midst of a bold capital investment programme – seeing almost $500m per week being spent on infrastructure developments – the financial sector has a vital role to play in maintaining the smooth flow of money to the domestic economy. In 2016 a liquidity squeeze resulted in a 4.6% drop in M2 money supply, while the sector’s loan-to-deposit ratio (LDR) reached 100.1%, in keeping with Qatar Central Bank (QCB) targets of 100%. However, in March 2017 the LDR had increased to

George Richani-CEO-Al Ahli Bank of Kuwait

The right environment: New programmes and strategies are creating a platform for small and medium-sized enterprises (SMEs) and start-ups

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  Key to Qatar’s drive towards diversification in its economy is developing a thriving private industrial sector. The most recent national development strategy has thus sought to encourage businesses, with a particular focus on small and medium-sized enterprises (SMEs). This support is also likely to continue in the National Development Strategy 2017-22. These are, however, challenging times for some businesses, with the decline in oil and gas prices of recent years affecting Qatar’s main economic driver and government expenditure. Many businesses rely on contracts from

George Richani-CEO-Al Ahli Bank of Kuwait

Purposeful partnerships: International institutions open new branches and public universities engage the private sector

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  Improving education forms part of the first pillar of Qatar National Vision 2030, the country’s long-term development plan aimed at reducing dependency on hydrocarbons and creating a diversified economy driven by services. This targeted development is seeing new tertiary developments opening in Qatar; for example, the Scotland-based University of Aberdeen opened a local branch in partnership with Al Faleh Group (AFG), an education services firm, in May 2017. The new campus, called AFG College with University of Aberdeen, will initially offer two undergraduate courses

Sheikh Ahmad Duaij Jaber Al Sabah-Chairman-Commercial Bank of Kuwait

Making room: A favourable climate welcomes increased private health care participation

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  Public spend composed 84% of health expenditure in 2016, with the remainder made up by the private sector. As spending priorities shift to preparations for hosting the 2022 FIFA World Cup, Qatar’s authorities are intent on courting private sector involvement in social infrastructure – specifically the health care sector – to help fill gaps in construction and provision. The projected need for private health care expenditure will offer opportunities for companies specialising in the construction of health care facilities, and those offering services or supplying products. Growing Role In a market historically dominated by public services, the role of the private sector has been

Ali Bongo Ondimba-President of Gabon

Accounting on change: Businesses and the government are turning to bond sales to fund infrastructure investment

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  The government is increasingly tapping international bond markets as it advances a substantial infrastructure agenda. The country issued Asia’s largest sovereign bond in 2016, pushing total annual bond issuance above the $10bn threshold, while state-owned enterprises (SOEs) have increasingly sought bond financing for major infrastructure projects such as port upgrades and a planned light rapid transit (LRT) system in Jakarta. Bond issuance in foreign currency is also becoming increasingly popular following the successful issuance of euro- and yen-denominated bonds in mid-2016. Sovereign bond issuance

Dean Kern-Middle East Tax and Legal Services Leader-PwC

Stepping it up: Building manufacturing capacity with additional industrial zones

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  Special economic zones (SEZs) – known locally as Kawasan Ekonomi Khusus (KEK) – are the flagship industrial development programme of the government of Indonesia. The country is targeting 7% annual GDP growth through to 2019, and aims to reach upper-middle-income status by that year. One key factor in achieving this goal is accelerating the industrial sector. Domestic manufacturing growth has lagged behind that of regional competitors, as has overall economic development since the 1997-98 Asian financial crisis. Returning to growth based on manufacturing, not mining, is crucial to raising GDP per capita and creating sustainable jobs. Certain sectors are doing well despite the weak

Stuart Tait-Regional Head of Commercial Banking-Asia Pacific

Promising paths: The number of passengers commuting by rail continues to grow

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Rail ridership in Indonesia has risen substantially in recent years, making decades of underinvestment and growing urban congestion important considerations for transport stakeholders as they upgrade and construct new lines. Statistics Indonesia (BPS) reports that total rail passengers rose from 199.3m in 2011 to 202.2m in 2012, 216m in 2013, 277.5m in 2014 and 325.9m in 2015. The average length of a passenger journey has simultaneously fallen from 95 km to 68 km, while the country’s rail network remains limited to Java and Sumatra, with 22,296 km of total line operational in 2015. The Medium-Term Development Plan 2015-19 includes an infrastructure development agenda that outlines

Mohammed El Etreby-Chairman-Banque Misr

Overseeing the industry: Establishing policies and guidelines for regulatory oversight in an evolving market is a key government priority

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  The profitable and rapidly growing banking sector continues to attract interest from domestic and international financial institutions seeking to access the potential of the still largely underbanked population. To ensure financial services continue to advance in a stable manner, government regulators are working to adjust policies and regulations to protect the sector and secure its future. Following its creation in 2011 and its later assumption of regulatory duties from the central bank, Bank Indonesia (BI), at the end of 2013, the Financial Services Authority

Ahmed Zaki Abdeen-Chairman-New Administrative Capital for Urban Development

On the road: China’s One Belt, One Road initiative is reshaping South-east Asia

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  Hailed by Chinese President Xi Jinping as “the project of the century”, the One Belt, One Road (OBOR) initiative promises to radically transform a vast swathe of the world’s trade and transport infrastructure. In doing so, it may also transform the way Asia does business with the world, and the way the world does business with Asia. HISTORICAL PRECEDENT: While a new idea, OBOR also harkens back to medieval times, when the Silk Road flowed between East and West. The Silk Road was a series of trade routes criss-crossing the Asian landmass. Its more famous travellers included Marco Polo and Ibn Kaldun. Back then

Pham Hong Hai-CEO-HSBC Vietnam

Valued partners: Strengthening ties with major world powers

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With a variety of economic and diplomatic ties linking it with superpowers both old and new, Nigeria has long been a prominent player in both the continental and global arena. While simultaneously pursuing a leadership role on a variety of cooperative initiatives with its West African neighbours, the country’s diplomatic efforts internationally have also largely succeeded in garnering support from foreign partners for social and economic development initiatives – and particularly recently – security efforts. The fight against Boko Haram has been a key topic in the Cabinet’s foreign policy discussions, as has the solicitation of overseas support to help stave off further economic recession.