Featured by OBG
Saudi Arabia is entering a new phase of Vision 2030, the Kingdom’s long-term development roadmap, with greater emphasis on consolidating and maximising the impact of economic reforms introduced over the past decade. Since the launch of Vision 2030 in 2016, the Kingdom has pursued an ambitious agenda aimed at diversifying and moving away from hydrocarbons and expanding private sector activity. Saudi Arabia is increasingly well positioned to sustain the growth of recent years and drive foreign capital inflows and privatisation, positioning it as a globally competitive investment destination while reinforcing international confidence in the Kingdom’s policy direction.
The most populous country and arguably the largest economy on the continent, Nigeria is widely regarded as an African powerhouse.
The Indonesian government is in the midst of pursuing an ambitious new growth strategy, emphasizing investment over domestic consumption as a primary growth driver in the wake of depressed commodity prices, lagging household consumption and lower-than-anticipated government revenues.
A country of extraordinary diversity, spread across some of the world’s most spectacular, and often inhospitable, terrain, Papua New Guinea today is a country once again at a crossroads. A major economic boom driven by a massive liquefied natural gas project has been swiftly followed by a sharp slowdown as global oil prices fell, and as a result the government has come under some pressure.
With the fall in oil prices underlining the dangers of an over reliance on hydrocarbons revenues, Qatar has continued to forge ahead with its economic diversification drive in 2016. Non-hydrocarbons growth now outstrips hydrocarbons growth, with several big-ticket construction projects, an increasingly dynamic financial services sector and a growing reputation as a tourist destination all fuelling non-oil expansion.
Although low oil and gas prices in 2015 had a negative economic effect on the Trinidad and Tobago, the current government is pursuing a series of reforms aimed at both strengthening the important energy sector and diversifying the wider economy.
