The Briefing

Weekly business & investment updates curated for you.

Erbil Rotana

China — FDI in China is likely to remain stable in 2017, with its share of global FDI expected to stay at about 8%, government officials announced. FDI in China rose 3.9% to 731.8 billion yuan ($105.53 billion) in the first 11 months of this year, while non-financial outbound direct investment jumped 55.3 percent to 1.07 trillion yuan, ministry data showed.

Dubai — Dubai aims to spend $35.7 billion to develop its second airport and logistics hub in the south of the city and is likely to rely on debt for a significant part of the financing. The investments will be made in Dubai World Central and associated facilities, including Al Maktoum International airport, over the next 12 years.

Egypt — The World Bank's Board of Executive Directors approved the release of the second $1 billion tranche of the $3 billion loan package to support Egypt’s economic reform programme, according to a statement on the international cooperation ministry’s website.

Iran — While Iran plans to start delivering 49 oil and gas projects to foreigners based on newly designed contract model to absorb at least $80 billion of foreign investments by 2020, Wood Mackenzie believes the figure would be far below than Iran’s forecast.

Mexico — Liberalizing Mexico’s enormous oil and gas industry could generate new investment of at least $16 billion, according to a study released by Mexican oil giant Petróleos Mexicanos. The new investment would entail massive improvements in infrastructure and logistics, buoyed by the construction of new service stations, as well as ensuring security in the supply chain.

Myanmar — Telecom sector topped the foreign investment line-up of Myanmar with 47% of the total investment flowing into the country in the fiscal year 2016-2017, according to the statistics of Myanmar Investment Commission.

Nigeria — The Nigerian government has experienced a huge decline in its revenue in 2016. From January to September 2016, the government had a 600 billion naira unfavourable revenue variance. With a growing debt ratio and falling revenue, the government’s search for alternative revenue sources is endless.

Philippines — Foreign investment pledges approved by the country’s seven investment promotion agencies fell 45% in the third quarter this year, the Philippine Statistics Authority reported.

Qatar — The head of Qatar's sovereign wealth fund has told US officials it will invest $10 billion in infrastructure projects inside the US, sources said, in an apparent boost to the economic plans of President-elect Donald Trump.

Saudi Arabia — Saudi Arabia’s long-awaited drive to free up more oil revenue by shifting to solar power generation is expected to pick up speed next quarter, according to local developers eyeing contracts.

Taiwan — Taiwan's Ministry of Economic Affairs approved 3,093 foreign direct investment projects (except from China) with a total value of $10.634 billion in January-November 2016, respectively decreasing 9.35% and increasing 157.58% on year, according to MOEA statistics.

Turkey — Turkey received $889 million in foreign direct investment in October. Foreign investment in Turkey reached $8.62 billion in the first 10 months of this year, down 44.3 percent compared with the same period last year.

Zimbabwe — The government is targeting a foreign direct investment level of 25% of the country's GDP starting next year. The Ministry of Macro-Economic Planning and Investment Promotion will also launch an "Invest in Zimbabwe" handbook next month to facilitate dissemination of information to investors.

The Briefing

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