Category: Uncategorized

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Refining operations: A new round of upgrades is planned for the Sitra refinery

Posted OBG AdminPosted in Uncategorized

  In May 2016 nogaholding, the investment arm of the National Oil and Gas Authority (NOGA), signed a $570m credit agreement allowing it to move ahead with a $5bn overhaul of the country’s existing refining facility. This move would boost output capacity to 360,000 barrels per day (bpd), up from the 276,676 bpd produced in 2015. Bids were submitted in October 2016 for the engineering, procurement and construction (EPC) of the new refinery, with the contract set to be awarded in the second quarter of 2017. LONG HISTORY: Established in 1936, the Bahrain Petroleum Company (Bapco) refinery at Sitra is the oldest of its kind

Éric N’guessan-Managing Partner-EY Côte d’Ivoire

Open for business: Requirements for incorporating foreign ownership of companies

Posted OBG AdminPosted in Uncategorized

  Bahrain is a regional financial hub for investment and business in the GCC. This holds true due to the efforts set forth by the Ministry of Industry, Commerce and Tourism (MoICT), and its minister, Zayed R. Al Zayani, in cooperation with other ministries. The MoICT has taken steps to encourage and create lucrative opportunities for foreign investors and companies wishing to establish a presence in Bahrain. A foreign investor is any non-Bahraini individual or non-GCC national. Additionally, and by virtue of the free trade agreement that exists between Bahrain and the US, an American investor is accorded with a status similar to that of

At issue: Bonds

Posted OBG AdminPosted in Uncategorized

In 2016 Oman joined several other governments and companies in the GCC in tapping the international bond market. The main purpose of the issue was to fund the large budget deficits created as a result of the major decline in oil prices. According to Moody’s, revenues from oil and gas in Oman contributed to around 87% of total government revenues in 2010-15. The decline in oil prices of about 60% from its peak of $114 in September 2014 to around $50 as of January 2017 has created a significant shortfall between government revenues and expenses. This has led to a budget deficit of OR3.7bn ($9.6bn)

David Gledhill-CEO-Port of Salalah

Plenty more in store: A host of logistics projects are set to boost the sultanate’s global standing

Posted OBG AdminPosted in Uncategorized

The uncertainties surrounding global oil production and price have done little to suppress interest in liquid bulk storage and hydrocarbons logistics projects in Oman. Across the sultanate hundreds of kilometres of pipeline are being laid, and new facilities for gas and oil storage and export are coming on-stream. At the same time, low oil prices have strained state finances and made it harder to fund large infrastructure projects. As a result, state-owned oil and gas companies driving developments in hydrocarbons logistics are increasingly turning to

Azzan Al Busaidi-CEO-Public Authority for Investment Promotion and Export Development (Ithraa)

Automating effort: Improving the efficiency of ports with computerised support

Posted OBG AdminPosted in Uncategorized

Port automation and the modernisation of freight handling capacity in Oman is keeping pace with large development projects at Duqm and Sohar. Improvements in operational performance are the essential incentive to automate port container terminals, making them more productive and allowing for increased quay use and yard densities that result in a better use of available space. Automation also makes it possible to reduce human intervention in industrial activities, resulting in the standardisation of performance and service levels, the elimination of uncertainty in response times, and increased safety and security for port personnel. However, despite the clear benefits, automating a container terminal is an expensive

Peter Wong-Deputy Chairman and Chief Executive-HSBC

Key growth areas: Development efforts to focus on 14 tourism clusters

Posted OBG AdminPosted in Uncategorized

As part of its aim to make Oman a year-round tourist destination with a host of offerings, Oman’s Ministry of Tourism (MoT) identified 14 locations to be developed as clusters. These cultural, natural and urban sites are expected to help shape the success of the government’s National Tourism Strategy (NTS), which was unveiled in early 2016, and help the sultanate compete with its regional neighbours. Strategic Thinking Starting from around 2.6m visitors in 2015, the NTS aims to attract 5m visitors per year by 2020 and 11.7m by 2040. The selection and promotion of key destinations around the country is crucial to ensure these targets

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Welcome developments: Major new health care development projects should significantly expand capacity

Posted OBG AdminPosted in Uncategorized

Efforts are under way in Oman to construct a number of new hospitals and health centres to help meet the growing demands being placed on the national health care system. In 2015 nearly 326,000 patients received treatment and around 102,000 surgical operations were performed in Oman, which has a population of roughly 4.5m, according to government data. Growing The System In a statement issued in April 2016, Ahmed bin Mohammed bin Obaid Al Saidi, minister of health, said the ministry has ambitious plans for the

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Policy focus: Sector plan foresees the development of industrial clusters and legislative reform

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The new administration of the National League for Democracy (NLD) has highlighted industrial development as a top priority, evidenced by the recent release of a long-term industrial strategy expected to boost the sector’s GDP contribution to nearly 40% over the next 13 years. Under the plan, new investment in key economic corridors will be underpinned by development of industrial clusters, including a host of planned zones for agro-industry, as well as reforms aimed at improving the ease of doing business. The Ministry of Industry’s industrial strategy calls for expansive, broad-reaching industrial development, with the goal of boosting the industrial sector’s contribution to GDP to 37%

Xi Jinping-President of China

One year on: The new government’s plans focus on democratic and market reforms

Posted OBG AdminPosted in Uncategorized

With the historic general election in November 2015 followed by the new government’s official takeover in March 2016, Myanmar turned a key corner in its modern history. Unsurprisingly, this event also brought with it a wave of expectations for major and rapid change, with government ministries also outlining a series of 100-day plans, which gave an insight into many of the new administration’s priority areas for the year ahead, while also highlighting many of its most important challenges. New Leader On March 30, 2016, the new government, led by President U Htin Kyaw, finally assumed office, four months after the National League for Democracy (NLD)

Chaim Zach-Managing Director and CEO-Agric International Technology and Trade; Kabiru Rabiu-Group Executive Director-BUA Group; and Aliyu Abbati Abdulhameed-Managing Director

Come to the light: Solar projects capitalise on the country’s ample sunlight

Posted OBG AdminPosted in Uncategorized

In 2011 the government launched the National Development Plan for Renewable Energies (Plan National de Développement des Energies Renouvelables, PNDER), a massive programme to develop renewable energies. The initiative entails plans for the addition of 22 GW to the national grid by 2030, entirely generated through renewable energies. “This target will represent around 35% of the installed capacity of the time, taking into account ongoing conventional generation projects that will come on-line in 2019,” Hamid Bennour, portfolio consulting manager at Siemens, told OBG. Solar Slice Out of the 22 GW the PNDER expects to bring on-line, 12 GW are expected to be reserved for the