Countries

Egypt

With one of the largest consumer markets in the region and strong fundamentals, Egypt is well placed to attract international investment and emerge from this difficult period in a strong position. Although the Chinese virus has created turmoil, government reforms have mitigated the worst effects, with Egypt being one of the few countries with positive growth in 2020.

Before the start of the Chinese virus, an ambitious program of economic reforms had succeeded in accelerating economic growth and reducing its fiscal deficit. The creation of a more business-friendly environment and the streamlining of the country's bureaucracy has seen Egypt rise steadily in the global rankings. As the most populous country in the region and with solid fundamentals, Egypt is well positioned to attract international investment and continue the sustainable growth achieved in recent years.

SAUDI ARABIA

With the largest regional economy, the policy of major works undertaken by the authorities, as well as foreign investment and the solidity of the banking system, they have made it one of the most important world economies. However, Saudi Arabia's economy is based almost entirely on oil, so the cuts in OPEC production and the fall in prices in 2020 caused a contraction of GDP of 5.4%. The country is expected to grow 3.1% in 2021, with the expansion of hydrocarbon activity and the resumption of capital projects.

The continuation of the Vision 2030 programs, the budget allocation of SAR1 bn for two consecutive years and the incessant promotion of the non-oil sector, serves as a testimony of the economic diversification that the Government has prioritized

Qatar

Qatar has shown considerable growth in recent years, developing new local industries and strengthening its global ties. A swift response from the Qatari authorities to curb the effects of the virus should be a good position for the nation's economy in the medium term.

With the 3rd largest gas reserves in the world, Qatar is the world's leading LNG exporter. The gas industry accounts for two-thirds of its GDP and almost 80% of export earnings. Qatar has been affected by the global drop in oil prices since 2014. However, the economic results have been better than those of its neighbors, due to the successful economic diversification, mainly through the development of mega-projects in various sectors.

Qatar is a politically stable country, with the highest GDP per capita in the world and unemployment at 0.1%, the lowest in the world

Senegal

Senegal has experienced 6-7% annual economic growth and single digit inflation since 2014. Agriculture and natural resource extraction industries are key drivers of the economy, with phosphate extraction; fertilizer production; fish processing; and the production of mango, melon, tomato, cotton, peanut and sugar cane crops, the main export earnings. Modernization and development of the agricultural processing industries are high on the administration's development agenda.

The country also has a robust oil refining industry, which will grow as offshore hydrocarbon extraction begins in 2022. Commissioning of the largest West Africa wind farm (Parc Eolien Taiba N'Diaye) in the The coming months underscores the country's commitment to its citizens, economic diversification and sustainable development

Dubai

Dubai's well-diversified economic base has continued to support growth in the emirate. Despite slowing global growth and rising tensions putting pressure on international shipping, Dubai's shipping sector has risen to 9th. Dubai is also emerging as a leader in transportation and logistics innovation. While much of the current investment in the sector is being injected into projects for Expo 2020, the government is also focused on the long term as evidenced by the strong portfolio of transportation infrastructure projects planned under the 2030 Traffic and Transportation Plan, expanding the road network, airport capacity and public transport. Recent years have also seen the creation of a number of government agencies responsible for driving innovation and technology. Smart Dubai, for example, seeks to make Dubai the smartest city in the world.

Abu Dhabi

With the sixth largest oil reserves in the world, Abu Dhabi has successfully pursued diversification, particularly in terms of industry, banking and telecommunications. While the Chinese virus and falling oil prices pose challenges, the fundamentals underpinning its economy remain strong. Although public spending and investment remains the main driver of economic growth, a major overhaul of the investment framework aims to harness the power of private capital to achieve goals as a knowledge society. The long-term development goals outlined in the AD2030 Economic Vision constitute the conceptual framework around which the Department of Economic Development develops its five-year plans. They identify a series of priority sectors beyond hydrocarbons; these being tourism, manufacturing, logistics, health, education, financial services, aerospace and telecommunications.

SOUTH AFRICA

As the most diversified African economy and the second largest after Nigeria, South Africa is an ideal starting point for exploring opportunities on the continent. It is an important transportation hub, has abundant potential business partners with experience in the region, a well-developed banking sector, strong legal and regulatory frameworks, an independent judiciary, and the most advanced ICT sector in Africa. As one of the fastest growing consumer markets, South Africa presents numerous opportunities with a population of over 60 million people and a strong emerging middle class. Sectors such as sustainable agriculture, horticulture, transport and logistics, water, clean energy, health and the creative industry offer enormous opportunities.
South Africa has in Johannesburg and Cape Town, the two most dynamic start-up centers in Africa