GCC
infrastructure contract awards forecast to top
$45 billion in 2014
New
Ventures report shows spending will double this year
Dubai,
United Arab Emirates –15 October 2014 –A
new report forecasts that a more than USD45 billion of infrastructure contracts
will be awarded to by the end of 2014 - double the USD22.6 billion awarded in
2012.
The report “GCC infrastructure Market 2014”
gives a snapshot of the billions of dollars being spent across the region with
a focus on five areas: rail, roads, airports, ports and free trade zones.
The report also calculates that USD97 billion
of rail contracts are already underway as all six countries work towards the
planned 2,117km GCC-wide rail network by 2018.
The Ventures report says almost USD300
billion will be spent on airports in the Middle East over the next five years with
passenger numbers in the GCC expected to reach almost 4 billion by 2017. And every
GCC country is involved in expanding its seaports with an estimatedUSD25
billion of ports expansion and investment planned.
Qatar has invested USD8.2 billion on a
state-of-the-art industrial port, Doha’s New Port Project, which is set to be
completed ten years ahead of schedule in 2020.
Alongside its analysis of the current
infrastructure market, the report prepared by Ventures Middle East in
association with The Big 5 construction exhibition taking place in Dubai in
November, gives guidance on licensing and registering your product or service
in the region.
A vital part of a country’s infrastructure
development is free trade zones and all countries in the GCC except Saudi
Arabia offer them, though the UAE has the vast majority with 20.
The report says: “Free Trade Zones, or
Special Economic Zones, are designated areas where governments allow businesses
to set up. The UAE has the highest number of Free Zones in the GCC at 38, 20 of
which are in the Emirate of Dubai.”
The report explains how they benefit foreign
companies and suppliers and offers a checklist for any company looking to do
business in the lucrative infrastructure sector.
To encourage
international manufacturers and suppliers to set up their business in the UAE,
The Big 5 organises a free seminar on How to Trade in the UAE, providing detailed information about free zones, legal framework and
a step by step guide on how to do business in the country.
Adil Al Zarooni, senior vice president of
sales Jebel Ali Free Zone (JAFZA) and Economic Zone will be one of the keynote
speakers at the How to Trade Seminar.
He will offer an insight into the way free
zones operate across the GCC. He says: “I will be speaking about the types of
businesses and industries that will be attracted and I will highlight some of
the success stories from Jafza.”
The Big 5 runs from 17 – 20 November at the Dubai World Trade Centre and is open from
11:00am to 7:00pm daily.
About
The Big 5
Launched in 1979, The
Big 5 International Building and Construction Show is the Middle East’s largest
construction exhibition.
With the 35th
edition running from 17 - 20 November, 2014 at the Dubai World Trade Centre,
The Big 5 in the UAE hosts more than 2,700 international exhibitors from nearly
60 countries, and welcomes more than 74,000 participants from 124 countries.
The Big 5 also recently expanded to deliver three dedicated shows in Saudi
Arabia, Kuwait and India. For more information visit www.thebig5.ae
The Big 5 and
co-located events PMV Live and Middle East Concrete offer a 360 degree platform
to the building and construction industry, as the largest international
building construction, concrete and heavy machinery gathering place in the
region. The three shows provide unparalleled access to industry knowledge with
45 free to attend accredited seminars taking place, as well as key conferences
and live demonstrations conducted on-site.
About
PMV Live and Middle East Concrete
Co-located with The
Big 5 International Building and Construction Show, niche construction events
Middle East Concrete and PMV Live are the region’s most important meeting
points for heavy construction machinery, plant equipment, commercial and
construction vehicles, and concrete.
The pioneering shows
bring together more than 355 exhibitors from over 32 countries with more than
20,000 international participants. For more information visit www.pmvlive.com and www.middleeastconcrete.com
About dmg events
An
international exhibition and publishing company, dmg events produces market-leading
B2B exhibitions and conferences across the Middle East, America, Europe and
Asia.For more information visit www.dmgeventsme.com
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