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OPPORTUNITIES IN THE CONSTRUCTION INDUSTRY KINGDOM OF SAUDI ARABIA & THE UNITED ARAB EMIRATES. March, 2009. Agenda. Introduction Overview of the Gulf Cooperation Council (GCC) market Construction Opportunities Kingdom of Saudi Arabia (KSA) United Arab Emirates (UAE).
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March, 2009
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Provided for Canadian companies’ investments or assets in a foreign country, as well as protecting project loans from political risks
Estimates vary from
$75 billion according to a HSBC
report issued early February to up to
$260 billion worth of property being
delayed or cancelled according to
Morgan Stanley
GCC Projects by Country ($ Millions)
GCC Projects by Sector ($ Millions)
Industry
Power
MEED Projects March 2008
UAE Projects all Sectors
($ Millions)
KSA Projects all Sectors
($ Millions)
MEED Project March 2008
Saudi Arabia During the Downturn:
Business Environment
GDP: $600 billion (2008) Annual growth rate: 4.2% (2008)
Population: 28.1 millionPer capita GDP: $ 21,300 (2008) Inflation: 10.3% (2008)
CANADA – SAUDI ARABIA TRADE (2008)
Canadian Exports to Saudi Arabia $ 969 million
Canadian Imports from Saudi Arabia $ 2.3 billion
As a part of the GCC, KSA has approved duty exemptions covering the import of more than 400 items. The Council has also implemented a customs union which has harmonized customs tariff at 5% of an items value.
Source: IMF, StatsCan
Project comprises:
List of Companies Awarded
Contracts in Phase 1
UAE During the Downturn:
Business Environment
GDP: $187 billion (2008)
Annual growth rate: 8.5% (2008)
Population: 4.6 million (2008)Per capita GDP: $40,400 (2008) Inflation: 14.4% (2008)
CANADA – UAE TRADE (2008)
Canadian Exports to UAE $ 1.3 billion
Canadian Imports from UAE $ 330 million
As a part of the GCC, UAE has approved duty exemptions covering the import of more than 400 items. The Council has also implemented a customs union which has harmonized customs tariff at 5% of an items value.
Source: IMF, StatsCan
*Buildings with a sustainability level of 35 per cent will receive one pearl, 45 per cent will earn two pearls, 55 per cent will get three pearls, 65 per cent will receive four pearls and 75 per cent will earn five pearls.
Courtesy : Abu Dhabi Government
While complex markets with a different culture from Canada, entrepreneurs can be
prepared to do business there. Experts in the region boil their advice down to three
“C’s”: Commitment, Capacity and Contacts.
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Vancouver, Calgary, Edmonton, Regina, Saskatoon, Winnipeg, Toronto, Montreal, Quebec City, Halifax, Moncton, Charlottetown, St John’s
Canadian Consulate in Dubai, United Arab Emirates
dubai-td@international.gc.ca
Canadian Embassy in Abu Dhabi, United Arab Emirates:
Canadian Embassy in Riyadh, Saudi Arabia
Rizwan Haider, Chief Representative – Middle East & Africa
International Business Development Group
Tel:(613) 598-2760/ Fax:(613) 598-2503
Email:middleeast@edc.ca
Marie-Claude Erian, Sector Advisor
Infrastructure & Environment
Tel:(613) 598-2969/ Fax:(613) 597-8667
Email: inf-env@edc.ca
Jean-Francois Croft, Chief Representative – GCC & Yemen
based in Abu Dhabi, UAE
Tel:(613) 597-7882 Fax:(613) 598-2503
Email: gcc@edc.ca
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