The Briefing

Weekly business & investment updates curated for you.

Erbil Rotana

China — China moved towards opening up markets such as railway equipment and vehicle batteries with the publication of draft foreign investment guidelines which it said would increase openness to the outside world.

Mauritius — Mauritius expects FDI to come to $391 million in 2016. The country is trying to expand into offshore banking, business outsourcing, luxury real estate and medical tourism, in a bid to diversify its economy away from sugar, textiles and tourism.

Morocco — Morocco will issue its first ever Islamic bond in the domestic market in the first half of 2017. The size of the sukuk, which will coincide with the launch of a market for Islamic banking, has yet to be decided.

Qatar — Project contracts worth QR46 billion will be signed next year as the total cost of commissioned projects stands at nearly QR374 billion, said Minister of Finance H E Ali Sherif Al Emadi. Qatar aims to take more steps to boost business environment and to attract foreign investment.

Turkey — Turkey's leader has renounced foreign currencies in favor of the ailing lira currency in keeping with his appeal to Turkish citizens to do the same, as a new measure was unveiled to help struggling businesses.

UAE — The UAE Ministry of Economy has published its latest annual report which notes, among other highlights that the UAE remains the region’s most prominent destination for foreign investment. GDP is expected to reach AED 1.8 trillion by end of 2016 and triple in 10 years while the non-oil sector’s GDP contribution in 2015 rose to about 77 per cent at current prices and 70 per cent at constant prices.

Vietnam — Vietnam forecasts disbursed FDI to rise to a record this year with companies such as South Korea’s Samsung shifting factories to the Southeast Asian nation. Disbursed foreign investment may reach $15 billion in 2016. The country may have a trade surplus of $2 billion to $3 billion, with exports likely rising 8 per cent this year. Disbursed FDI rose 17.4 per cent to $14.5 billion last year, according to government data.

The Briefing

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