Economic summit to be held from 13-15 March in Sharm El-Sheikh
Egypt's economic summit will be held in Sharm El-Sheikh from 13 to 15 March under the title 'Egypt is the Future', according to Prime Minister Ibrahim Mehleb.
The summit aims to support the development of the Egyptian economy, and the new date is suitable for and ensures strong participation from Egypt's international development partners.
Mehleb added that "Egypt is moving steadily toward economic recovery under its roadmap to improve the business climate". It strengthens investor confidence in the Egyptian economy and paves the way for implementation of real and comprehensive economic and social reforms.
In a press conference attended by the ministers of social solidarity, finance, and investment to announce the details of the economic summit, Mehleb said: "Egypt hopes to attract billions in foreign investment over the next four years, which will put Egypt on the right track through comprehensive and sustainable growth of the Egyptian economy."
He said that there will be work on three main points leading up to the summit, the first of which is good summit organization and consultations with international and local companies specialized in conference organization. This also includes cooperation with all international institutions and partners, which is the first step on the reform roadmap.
The second includes settling investment disputes and investigating the rights of the investor and the state. The third point entails reviewing all legislation through a higher committee. The most important aspect of this point is enacting laws that will attract investments, create more companies, combat corruption, bring the 'one-stop shop' investment window into force, fight bureaucracy, and bring about administrative reforms and transparency.
Mehleb described the "Summit to Develop the Egyptian Economy: Egypt is the future" as an incentive for economic development in Egypt. He said it was also an opportunity for business and political leaders, investors, and international institutions to participate in major development initiatives in various sectors that have been prioritized.
According to Investment Minister Ashraf Salman, the summit is one of the pillars of the economic reform program aimed at reducing the deficit over the next five years. The government has already announced the restructuring energy subsidies, amendments to the value-added tax, and initiatives to broaden the tax base. The government is also discussing IMF initiatives as well, and the summit will provide a platform to display all these reforms.
Mehleb stressed that the reforms the government is working on are not just limited to attracting investment, but also to support social security networks. The reforms will also expand health care centers, and develop education services, all of which will help realize increased human development and ensure a better life for Egyptian citizens.
Minister of International Cooperation Naglaa Al-Ahwany said the summit will witness discussion between international business leaders and Egyptian government officials and private sector businessmen on specific investment initiatives.
Egypt has undertaken various initiatives to reduce bureaucracy and ensure investors' rights. This has included the development of new laws to regulate bids and investment and also formulating a new committee to ensure rapid resolution of commercial disputes.
Changes in the immigration regulations in Egypt.
On the 10th of February immigration authorities in Egypt implemented new regulations, aiming to further protect the local labor market. After a short break, authorities resumed accepting new work permit applications, however we see the increased rate of applications been refused; moreover instead authorities now offer a list of Egyptian unemployed specialists whose qualification correspond to the position requirements. We will keep you updated on the further developments.
Serco lands first big rail contract in Saudi Arabia
A consortium led by Serco Group, the international service company, has been awarded a contract by the Saudi Railway Company (SAR) to provide management and technical support for its operations on the North South Railway (NSR).
The five-year contract worth £120 million ($184.6 million) is Serco's first major rail contract in Saudi Arabia, said a statement from the company.
The consortium also includes Britain's Network Rail Consulting and Freightliner Group, a leading rail freight operator in the UK with operations across Europe and Australia.
As per the deal, Serco will operate as prime contractor and provide technical support for passenger operations, while Freightliner Group will take lead responsibility for providing freight expertise and support and Network Rail Consulting will provide infrastructure technical support.
The consortium will use its international expertise in rail operations to develop and implement operating procedures and systems, provide management and technical assistance, and deliver training and expertise to support the development of capabilities within SAR and its personnel, said the statement.
The NSR, at over 2,750 km in length, is one of the largest rail projects currently being developed worldwide. The overall rail network that SAR is responsible for constructing and operating is more than 4,500 km.
SAR chief executive Dr Rumaih Al Rumaih said: "Our vision is to implement world-class railway practices and deliver the highest standard of technical, commercial and operational service excellence to all customers, as well as to ensure the transfer of technical and operating knowledge and skills, including training, to provide long-term employment opportunities for Saudis, to operate the rail network and develop the railway industry in Saudi Arabia."
"After an extensive exercise supported by international business consultants AT Kearney, the UK consortium successfully won the tender process against strong international competition, and we look forward to working with them to achieve SAR's strategic plans in a five-year commercial partnership," he added.
Serco Middle East CEO David Greer, said the contract was its first major transport win in Saudi Arabia, a country which is central to the group's growth plans in the Middle East.
Serco, he stated, had many successful years of managing and providing operational support for high performing rail services internationally, in the Middle East, Australia and in the UK.
"We look forward to using these capabilities and experience, working with our consortium partners, to support the Saudi Railways in ensuring safe, effective and reliable services on the NSR in the kingdom," added Greer.
Group CEO Rupert Soames said: "I am delighted that Serco have won this important contract, which is completely aligned with our strategy of building an international public service business specialising in transport, justice and immigration, defence, citizen services and healthcare."
"It also reinforces the success we have had in other rail projects in Dubai and Qatar, and positions us as the leading operator in rail in the Middle East," he added.-TradeArabia News Service
Dubai to house Middle East's first Rainforest
Dubai is set to become home to the Middle East's first tropical Rainforest, as the Emirate continues its drive to attract tourism from all over the world.
The tropical ecosystem, which was announced by leading luxury developer Damac Properties, will be housed within the company's Akoya Oxygen master development community as one of the premium attractions within an expansive retail and entertainment zone.
Scheduled to be completed by 2020, The Dubai Rainforest will recreate the natural environment experienced in the heart of the deepest rainforests, which cover 6 per cent of the earth's surface. The tall, dense jungle environment will be fully recreated with many plants species integrated into the iconic dome structure. Damac Properties will ensure the integrity of the project is a natural representation of the environment through collaborations with leading Amazonian rainforest experts.
Spread across 55 million sq ft within Dubailand, Akoya Oxygen will be a peaceful retreat from the hustle and bustle of the city. The second phase of the project is currently available for investment, with villas and townhouses available within the green environment. The project is set around the Trump World Golf Club, Dubai - an 18-hole Championship-standard golf course, which is under design by world-famous golfer, Tiger Woods and will be managed by the Trump Organisation.
The retail and entertainment centre will be the fulcrum of the Akoya Oxygen development, housing the golf course clubhouse, the Dubai Rainforest and a selection of retail and restaurant outlets.
The Dubai Rainforest will also incorporate all of the latest outdoor and exploration equipment with a natural-looking rock face climbing wall set within the abundant nature.
The attraction will also be opened to the true romantics, looking for a very unique wedding environment. Couples will be able to exchange vows in a beautiful Rainforest clearing, followed by a sumptuous feast with the wedding party.
The project will join attractions such as the varied theme parks coming on-line, in addition to the world's tallest fountain, the Palm Jumeirah, the Dubai Eye and the Dubai Aquarium as Dubai looks to welcome at least 20 million tourists a year by 2020. -TradeArabia News Service
Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy, has inaugurated the first electric vehicle charging station in Dubai at Dubai Electricity and Water Authority's (Dewa) main office.
The ceremony was attended by Saeed Mohammed Al Tayer, MD and CEO of Dewa, Mattar Al Tayer, Chairman of the Board and Executive Director of the Roads and Transport Authority, RTA, Ahmed bin Byat, Chairman of the Board of Directors of du, Ahmed Butti Al Muhairbi, Secretary-General of the Dubai Supreme Council of Energy, Abdullah Kalban, MD and CEO of Emirates Global Aluminium, Abdullah Abdel Kareem, Director General of the Department of Oil Affairs, Dr. Aisha Butti bin Bishr, Assistant Director-General at the Executive Office of Vice President and Prime Minister and Ruler of Dubai, Ali Shahdoor, Deputy Chief Editor of Al Bayan, Sami Al Reyami, Editor-in-Chief of Emarat Al Youm, and senior officials from the Dubai Supreme Council of Energy and Dewa.
The move supports the Smart Dubai initiative, launched by His Highness Sheikh Mohammed bin Rashid, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai the happiest city on earth that provides the most efficient and seamless experience and is the safest place for residents and visitors.
"By transforming Dubai into the smartest city in the world, we aim to make our society happier and provide smart, instant, and seamless services that are available anytime, anywhere. Dubai has all the elements to be a global leader in sustainability, competitiveness, and green economy," said Al Tayer.
"This station is an important step towards achieving the objectives of the sustainable smart city and transforming Dubai into the smartest city in the world. It also supports the Dubai Plan 2021 and the Dubai Integrated Energy Strategy 2030 to establish Dubai as a global hub for trade, finance, tourism, and sustainability, and a global role model of the highest standards of energy efficiency. One of the main factors for the success of smart cities is to provide a smart environment that rationally and sustainably uses resources in an innovative way, by adopting state-of-the-art technologies. Dewa has developed a comprehensive strategy for smart grids. Currently, Dewa is implementing three main initiatives. These are connecting solar energy to houses and buildings, smart applications through smart meters and grids, and the infrastructure for vehicle charging stations. Dewa has started implementing the electric vehicle charging station infrastructure initiative," added Al Tayer.
"This pioneering initiative will greatly support Dewa's efforts to reduce the carbon footprint, protect the environment, and drive Dubai's sustainable development forward. We are confident this project will have the full support of Dubai residents as well as government and private organisations," concluded Al Tayer.
Dewa's third initiative includes building the infrastructure needed to introduce electric vehicles in the emirate, and establishing 100 charging stations in 2015. Dewa is collaborating with a number of national and private organisations to implement this leading project. These include car manufacturers, national airports, shopping malls, petrol stations, Dubai Municipality, RTA, hotels, and owners and operators of parking lots in Dubai. DEWA is also working with real estate developers, including Emaar and Nakheel, to determine the most appropriate sites to set up electric vehicle charging stations across Dubai.
Siemens wins $400m Dubai power plant expansion deal
German industrial group Siemens has been awarded a Dh1.47 billion ($400.2 million) contract to expand the M-Station power plant at Jebel Ali in Dubai, the emirate's state-owned utility said on Thursday.
The expansion will increase its electricity-generating capacity to 2,700 MW, from 2,060 MW, at the gas-powered facility, Dubai Electricity and Water Authority (Dewa) said in a statement.
The expansion should be completed by the end of April 2018, Dewa added.
The utility last month said it was close to awarding the contract for the project. - Reuters
Qatar awards $343m school building contracts
Qatar's Public Works Authority (Ashghal) has awarded contracts worth more than QR1.25 billion ($343 million) for the construction of 17 new schools and six kindergartens in bid to boost the country's educational infrastructure.
Work is already under way on 38 schools and KGs at a cost of QR1.73 billion ($474 million) and with these new contracts, the number of schools and KGs being built by Ashghal has now risen to 69, said a statement from Qatar's Public Works Authority.
The signing of the contracts was held in the presence of Dr Mohamed bin Abdulwahed Al Hammadi, the Minister of Education and Higher Education and Nasser bin Ali Al Mawlawi, the president of Ashghal, aand other senior officials.
Of this, 33 schools and kindergartens will be delivered to the Supreme Education Council (SEC) before the beginning of the 2015-2016 school year.
With the signing of the new contracts, the total value of the educational projects carried out by Ashghal is estimated at QR3 billion ($823 million), said Al Mawlawi.
On the new schools, Al Mawlawi said each of the 17 schools will have a total construction area of 9,159 sq m and will boast a two-storey building that can accommodate around 650 students in 25 classes.
The schools' main buildings will have a multipurpose hall besides chemistry, physics, and biology labs, two computer rooms, two arts studios, a language room and an administrative office.
The main buildings will be surrounded by a series of external adjoining buildings, covered parking lots, outdoor football, handball, and volleyball courts, he added.
According to him, the kindergartens' 12 classrooms will accommodate up to 240 children and include playgrounds and a special music room, language room, and a computer room.
The kindergartens will also have a library hall, classrooms, and outdoor spaces that include a shaded parking lot, green spaces and service buildings, he added.
These schools will boast eco-friendly and smart buildings that will be equipped with special materials and equipment to help conserve energy and decrease water consumption. They will also have accessibility ramps, restrooms and other amenities for special needs children.
The contract for six schools in capital Doha and surrounding areas worth QR532 million ($146 million) has been awarded to Amana Qatar Contracting Company, while Al Jaber Trading and Contracting Company clinched a QR199 million ($55 million) contract for three schools, said Ashghal in its statement.
Al Sraiya Trading and Contracting Company was awarded a QR188 million ($51.6 million) contract for three schools, Al Huda Engineering Works won a QR168.4 million ($46.2 million) contract for three schools and Galfar Al Misnad Engineering and Contracting clinched a QR158.4 million ($43.4 million) contract for six KG units, it stated.
The work on all these projects will start in the first quarter of 2015 and is due for completion by the third quarter of 2016.-TradeArabia News Service
Louis Berger JV wins Doha metro consultancy deal
A joint venture of Louis Berger, a US-based architectural and engineering design firm, has won a $79-million contract from Qatar Railways Company to provide project management consultancy (PMC) services for all elevated and at-grade sections of the Doha Metro project.
The Doha Metro, part of the overall Qatar Integrated Railway programme, is 216 km long which is spread across four lines (Red, Green, Gold and Blue) with an estimated total construction value of $36 billion.
Approximately 100 stations are being planned along the Doha Metro, including two major stations at Msheireb and Education City.
The Louis Berger Egis Rail Joint Venture said the newly contracted sections include the Red Line North, Red Line South and Green Line, which have a combined length of 16 km.
These sections will provide a passageway to the Fifa-compliant stadiums that are being developed for the upcoming Qatar World Cup in 2022, it stated.
Commenting on the win, . James Stamatis, the president for Louis Berger's international operations, said: "We are honoured to play a key role in bringing Qatar Railways Company's vision to build one of the world's most impressive, extensive and modern metro programmes to life."
"The Doha metro will be a global model for transit programmes providing greater access, connectivity and mobility to its citizens," he stated.
The Louis Berger Egis Rail Joint Venture was initially commissioned in August 2012 to provide project management consulting services on the project.
This commission involved major underground sections, including the Gold line and major stations. In 2013, the Louis Berger joint venture also was commissioned to provide independent certification engineer services, which covered early enabling works along with utility diversions.
Louis Berger's extensive rail and transit experience also includes other signature programmes in Ankara (Turkey); Bangkok (Thailand); Riyadh (Saudi Arabia); Panama City (Central America) and Mumbai (India).-TradeArabia News Service
Qatar house rents up 20pc, 'may stabilise amid demand'
Residential property rents in Qatar have increased 20 per cent over last year, but the oil price crash may help stabilise the market and prevent an unreasonable further hike, according to a report.
The falling oil prices, however, have not caused a downturn in the market until now, which is witnessing a good demand for properties, especially in the residential sector, said the Peninsula report.
The increased influx of professionals recruited for mega infrastructure projects was the major factor that jacked up demand for residential space, it said.
"Oil price fall does have an impact on the market and the future trends would largely depend on the variations in oil prices," Mohsen bin Abdul Rahman, Tariq Al Kubaisi real estate company, was quoted as saying.
"This does not mean that the market is dull. There is still good demand for the properties," he added.
Another real estate expert said that the year 2014 was one of the best for the industry with prices witnessing a 10 to 20 percent increase.
All the leading real estate companies, including the state-backed firms, have increased their prices, cashing in on high demand generated by the increased influx of professionals and other foreign workers to the country, said the report.
The rents for a two-bedroom flat currently range from QR6,000 ($1,646) to QR7,500, while a three-bedroom facility costs up to QR10,000 a month. Rents for medium-range villas have gone up from QR12,000 to QR15,000 over the past year, it added.
Manpower authority continues to issue temporary permits
KUWAIT: Well-informed sources at the Manpower Public Authority said that the authority will continue issuing temporary work permits in order to meet the requirements of both employers and employees under the supervision of the work inspection department. The sources added that in case a new employer does not want a worker, the inspection department is notified and the worker's residency remains on the previous employer. The sources also stressed that temporary work permits require a waiver from previous employers and the approval of new ones on condition that workers hold residency visas valid for at least one year and that the new employers actually need the workers. The sources explained that 100-day temporary work permits are issued so that new employers can give new staff a trial period during which they decide whether to keep the new worker and issue work permits.
Excess food Municipal Council members Abdullah Al- Kandari and Hessa Kamal recently suggested building special sites near various wedding halls all over Kuwait where extra food can be collected following every ceremony and redistributed to the needy in collaboration with the municipality. They both stressed that this project would save tons of food wasted every year.
Nonpaying consumers Ministry of Electricity and Water's (MEW) Consumer Affairs Department recently warned that water supplies for people with huge unpaid pills would be stopped in residential, commercial and investment buildings, said informed sources, noting that some consumers had not paid their bills for years, and accordingly, supplies would be stopped without prior notice. On the other hand, some consumers have filed lawsuits suing MEW for disconnecting their services without any consideration for the buildings' tenants who mainly comprised of elderly people, children and people with special needs.
Staff honored Informed MEW sources stressed that the ministry would hold a special ceremony to honor and reward employees who recently managed to restore power after a blackout. The sources added that Minister Al-Ibrahim asked various senior MEW officials to make lists with the names of staff members who worked hard during the blackout to honor and reward them in appreciation for their efforts.
Energy conservation MEW Undersecretary Ahmed Khaled Al- Jassar yesterday presided the 13th meeting of the water and power conservation executive committee. The meeting was attended by representatives from various ministries and government establishments such as MPW, Awqaf Ministry, Ministry of Education, Ministry of Health, Ministry of Interior, Finance Ministry, Kuwait Institution for Scientific Research, Ministry of Defense, Kuwait Petroleum Corporation, the National Guard, Touristic Enterprises Company, Kuwait Fire Services Directorate, Civil Aviation, Customs Department, Kuwait National Petroleum Corporation, EQUATE, Oil Explorations Co and the technical committee. The committee discussed means to conserve water and electricity consumption in various ministries and suggested alternatives to help cut down consumption rates by using solar power and LED lights.
Water strategies A national workshop was yesterday held at the Movenpick Bidaa hotel under the title of 'GCC Comprehensive Long Term Water Strategies' to discuss the challenges GCC states meet in view of limited water resources. MEW assistant undersecretary for technical services Khalifa Al-Fraij stressed that the workshop was held in response to direct instructions from GCC leaders. He also noted that the King Abdullah Institute for Research and Consulting Studies was currently working on a study on developing a comprehensive unified GCC water strategy for the next 20 years and establishing an office to carry out the strategy's execution in various GCC states.
Environmental crises A number of Municipal Council members stressed that Kuwait Municipality has been facing seasonal environmental crises for years, such as gas emissions from 17 landfill sites, used tires in Amghara and getting rid of 2,500 tons of daily household waste, without solving any of them. The members added that the used tires collection site in Amghara already includes 7.5 million and that this number increases by 3000 tires on daily basis. They also stressed that some gas emissions are toxic and that they have been causing serious diseases to many citizens and expats.
Smart electricity meters under test
Assistant Undersecretary for Consumer Affairs at Ministry of Electricity and Water Abdullah Al-Hajri has announced the launch of the smart meters testing in several facilities prior to installing them in many buildings and properties. He revealed that the testing period of these meters will last for three months and the situation will be evaluated before issuing a tender for importing large number of the meters. Al-Hajri explained that these meters will provide consumers with the option of using either the prepaid system or the normal postpaid system.
The prepaid system will allow the consumers to make prior payments for the quantity of electricity they require. He added that the installation of these meters will provide the sector with accurate information annually about the load and dues.
In another unrelated development, the Educational Research Department of Ministry of Education held a seminar titled 'Education for Sustainable Development' in which representatives from most governmental bodies and institutions participated.
The seminar was held under the patronage of the Assistant Undersecretary for Educational Researches and Curricula Sector Dr Saoud Al-Harbi, reports Al- Anba daily. During the event, they discussed the role of Ministry of Education in sustainable development in coordination with other ministries and institutions. The government bodies and institutions that participated in the seminar included the Public Authority for Applied Education and Training, Ministry of interior, Ministry of Awqaf and Islamic Affairs and Ministry of Electricity and Water. All attendants agreed on the need to consider the implementation of principles for achieving sustainable development and provided a number of suggestions in this regard
Kuwait may retender second airport: newspaper
Kuwait cancels bidding for multi-billion-dollar contract for international airport terminal Kuwait may retender the contract for construction of a second terminal at its international airport after calls by members of parliament to secure lower prices, a newspaper reported on Sunday.
The country has cancelled bidding for a multi-billion-dollar project to construct a second terminal at its international airport, Al-Watan newspaper was quoted as saying.
The Arabic language daily said Kuwait's public works ministry has decided to cancel the tender following a steep fall in oil prices and fears that the country's budget could post its first deficit in years.
"Cancellation of the airport tender is a good decision, which will preserve public funds," Parliament Member Khalil Al Saleh told the paper.
"We now expect from the government to retender the contract within the budget limits," he added.
The public works ministry had decided to retract the airport tender after the project cost exceeded KD1 billion ($3.5 billion) although it was budgeted at a maximum KD900 million ($3.1 billion).
"The minister had resisted these efforts to cancel the tender although the procedures to pre-qualify bidding companies were faulty," Saadoun Hammad, another Parliament Member, said.
"We have been told that 24 companies bid but actually there were only four [companies]," he said.
"The decision to cancel the tender means the ministry admitted its failure, especially, after the contract's cost surged from KD900 million ($3.1 billion) to KD1.36 billion ($4.7 billion)," he added.
In November, Kuwait's Arabic language daily Al-Anba said Limak Holding of Turkey submitted the lowest bid of KD1.38 billion ($4.76 billion).
The other low bidders were China State Construction Engineering Corp. (CSCEC) with a value of KD1.62 billion ($5.58 billion), the Abu Dhabi-based Arabtec, with a bid value of KD1.69 billion ($5.83 billion) and Italy's Astaldi SPA with a value KD1.71 billion ($5.89 billion).
The new terminal, one of the largest infrastructure projects in Kuwait, was tendered in December 2013 and that 18 firms had been prequalified to bid.
Kuwaiti officials have said the new terminal would lift the airport's handling capacity to 25 million passengers from around eight million at present. The project is expected to be completed in early 2017.
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