Featured by OBG
While known primarily for its vast gas reserves prior to 2010, Qatar’s global profile received a major boost that year when it was chosen to host the 2022 FIFA World Cup, leading to a significant increase in infrastructure development throughout the country. Qatar is now leveraging its natural resources to become a knowledge-based, diversified economy, and it is looking to attract greater foreign direct investment to further develop its non-oil growth engines, such as tourism, sports, financial services, technology, real estate and logistics.
The wealth of the Nile River and its fertile banks and delta, together with Egypt’s location at the confluence of Africa, Asia and Europe, have made the country a valuable prize for centuries, as well as a centre of trade and ideas.
Bolstered by burgeoning cement and ceramics industries that draw on the natural resources of the Hajar Mountains, Ras Al Khaimah has one of the GCC’s more diversified economies. Continued investment in infrastructure is enabling further economic growth and encouraging foreign investment.
Long viewed as a bastion of stability in the Central African region, thanks in part to large hydrocarbon revenues that have helped it maintain one of the highest levels of per capita income in the region, Gabon has been able to leverage its diplomatic clout throughout sub-Saharan Africa.
The Republic of Ghana has experienced two peaceful handovers of power in the two decades since it has returned to civilian, multiparty democracy and has gained a deserved reputation as a bastion of stability. However, in recent years, it has been the country’s economic performance in the headlines.
Oil production retains its key role in the economy, however plans are under way to encourage diversification away from hydrocarbons towards an economy that is more knowledge based. The political climate has been characterised of late by a number of disputes, often resulting in either the resignation of the government or the dissolution of parliament, which has contributed to the slow progress of some projects.