The industrial landscape in the GCC countries has evolved significantly in recent years, driven by a combination of government policies, market forces, and technological advancements. Some key trends include diversification to reduce their dependence on oil and gas revenues and promote economic growth in non-oil sectors, such as manufacturing, construction, and services. One of the key areas of Gulf Cooperation was setting up of industrial cities and zones to attract foreign investment and promote economic growth. These special economic and free zones enjoy up to 50 years of tax holidays and given the status of being outside of the relevant state from 100% foreign ownership and concessions w.r.t indirect taxes. The GCC countries have been investing in new technologies to improve the efficiency and competitiveness of their industries, such as automation, 3D printing, and Industry 4.0. Being world’s leading oil economies, the GCC countries have been investing heavily in the development of logistics and supply chain infrastructure to support trade and industrial growth. Not only that, but also the States have been investing in renewable energy, such as solar and wind power, to reduce their dependence on fossil fuels and meet growing energy demand. Due to such attractive policies, there is a consistent footfall of FDI and international trade.
Energy sector has become a marketplace where innovation is omnipresent. Our energy sector experts make it a point to comprehend your market and company, how it functions and its aspirations for the future, your strategic goals and the obstacles you aspire to overcome. Whether you are a company engaged in upstream, midstream, downstream, alternative energy, or ancillary services, you will always find our pragmatic counsel on the pertinent issues to your business and direction that leads to profitable outcomes.
If you are a larger sized industrial undertaking or an oil sector SMP, a partnership with us equips you with the robustness and versatility to identify the opportunities that lie ahead and respond to the current challenges you and your business are facing.