The GCC Economies: Stepping Up To Future Challenges by Nabil Sultan (auth.), Mohamed A. Ramady (eds.)

By Nabil Sultan (auth.), Mohamed A. Ramady (eds.)

The ‘Arab Spring’ of 2011 has affected the international locations of the quarter to various levels, together with the Gulf Cooperation Council (GCC) individuals, comprising Saudi Arabia, Kuwait, Qatar, the United Arab Emirates, Oman and Bahrain. The GCC has develop into an important local bloc taking part in an essential fiscal and political position a ways past its shorelines, given its geopolitical strategic place, a preponderance of world power reserves and a big overseas participant by using accrued monetary reserves.

A new Gulf is emerging, person who is extra self assertive, trying to extend its club to different Arab international locations corresponding to Jordan and Morocco, whereas whilst strengthening the bloc’s dating with present and rising buying and selling and strategic companions in Europe, united states and Asia.

Regional and overseas realities, specially the uncertainties unleashed by means of the ‘Arab Spring’, are forcing Gulf management to begin new guidelines regarding nearer cooperation among GCC international locations to handle rising challenges.

This quantity brings jointly thirty popular teachers and experts to check a variety of multifaceted social, political and fiscal concerns dealing with the GCC in key components such as:

· Diversification from a excessive dependency on a slender hydrocarbon base

· Social transformation, formative years employment and potent gender participation

· Outward and inward overseas direct funding flows

· clients for schooling reforms and e-learning.

· Sustainable safeguard in oil, renewable strength (including nuclear) and food

· company governance, transparency and adorning the non-public sector's working environment

· The function and governance of Gulf Sovereign Wealth money in making an investment their surpluses.

the quantity additionally deals insights for demanding situations dealing with the GCC in financial union, increasing the local debt industry and Sukuk issuance, GCC highbrow estate rights program, special tests of person GCC nation possibility research, in addition to the sustainability of long-term executive economic stimulus courses on the fee of non-public zone involvement.

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Extra info for The GCC Economies: Stepping Up To Future Challenges

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Only 13% of all the GCC companies complied 100%, while no sampled firms scored below 66%, which indicated that the sampled GCC companies exhibited a higher degree of compliance compared to other emerging countries. The author explains this high compliance rate in the GCC to the fact that 83% of the sampled firms were audited by the Big Four Auditing firms, and also due to the strict enforcement policies of regulators in the GCC. Anani explores in Chap. 16 the application of corporate governance in Saudi Arabia, especially the impetus given for such regulations since the Kingdom joined the WTO in 2005.

7, Mezher and Park argue that a new model can be found to meet the region’s energy needs. The authors argue that with threats posed by climate change, food security and resource scarcity intensifying, there have to be more efficient ways to meet such needs without exhausting finite resources. One such initiative is Masdar, which is an innovative and entrepreneurial attempt by Abu Dhabi towards long-term economic, energy and national resource sustainability. The GCC has the potential to become an economic power in terms of renewable energy and what happens at Masdar will be an important milestone for the broader GCC to focus on renewable energy and sustainable policy issues.

The input of professional local or international third-party consultants and specialists is recommended to avoid pitfalls of emotional decision making which sometimes characterizes Gulf international acquisitions. Making the right outward FDI decision minimizes risks associated with such an investment decision and can bring benefit not only to the investing company but also to the national economy through best practice and technology transfer back to the GCC. Akhtar discusses the competitiveness of inward FDI and takes Saudi Arabia as a case study in Chap.

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