Market and opportunity

Date: 14:33 25/06/2025 - View: 21

🌏 MIDDLE EAST & GCC: LAND OF OPPORTUNITIES

The Gulf Cooperation Council (GCC) includes six countries: UAE (Dubai, Abu Dhabi), Saudi Arabia (Riyadh), Qatar (Doha), Oman (Muscat), Bahrain, and Kuwait. This is a strategic economic and political alliance leading global trends in economic diversification and infrastructure investment.

• In 2021, the GCC’s nominal GDP reached approximately US $2.25 trillion, with GDP per capita among the highest globally.
• After a sharp growth of +6.9% in 2022, GDP in 2023 slowed to just 0.4–0.5%, mainly due to oil production cuts.

📈 Economic Performance Over the Past 5 Years: A Rapid Transformation

• According to the World Bank and IMF, GCC GDP is forecast to recover to around 3.2% in 2025, and reach ~4.5% by 2026.
• The GCC Central Bank (GCC-Stat) projects 3.7% growth in 2024, 4.5% in 2025, and stabilization around 3.5% in 2026.

🌍 Country Highlights

🇸🇦 Saudi Arabia

• GDP projected to grow 1.3% in 2024, driven by 4.3% growth in non-oil sectors.
• IMF forecasts 2.8% growth in 2025 and average 4.6% for 2026–2027, fueled by Vision 2030 initiatives.

🇦🇪 UAE & 🇶🇦 Qatar

• Qatar expected to maintain 2.4%–2.6% growth through 2025, jumping to 6.5% by 2026–2027 due to LNG expansion.
• The UAE benefits from economic diversification: non-oil sectors are growing at +4.8%, with GDP overall growing ~2.8% to 4%.

🏙️ Six Golden Cities – Key Growth Engines

🏗️ Dubai

A hub for tourism, finance, logistics, and technology.
New FTAs with countries like Australia open opportunities in agribusiness, green energy, and digital trade.

🕌 Abu Dhabi

Accelerating non-oil economy with heavy investment in renewable energy and green infrastructure (aligned with Vision 2030).

🇸🇦 Riyadh

Home to mega-projects like NEOM, The Red Sea Project, and Sports Boulevard, driving national GDP and creating diverse sector growth.

🇶🇦 Doha

A post–World Cup city leveraging its global visibility to boost tourism, hospitality, and luxury services.

🇴🇲 Muscat

Expanding into eco-tourism, organic products, and port-based logistics, offering entry points for niche brands.

🇧🇭 Bahrain

A leading financial services and green industry hub, actively attracting international startups and regional HQs.

🚀 Opportunities for the Next 10 Years

• Non-oil sectors will grow steadily at ~3–5% annually, led by tourism, finance, logistics, and technology.
• Strategic shift to AI, renewable energy, and green hydrogen: estimated to add US $150 billion in new economic value across the GCC.
• Large expatriate populations, tax incentives, and visa reforms make the region ideal for international brands and services.

💡 Why Invest in the Six Golden Cities Now?

1. Strong and sustainable non-oil growth trajectory
2. Mega-infrastructure projects backed by sovereign funds (NEOM, AI zones, logistics corridors)
3. Favorable FTA & investment policies (e.g., UAE–Australia, Bahrain–UK)
4. Rising high-end consumer demand from expats and Gulf nationals
5. Talent shortages in certain sectors present opportunities for consulting, education, and outsourcing

✅ In Summary

2024–2035 is a strategic window for Vietnamese enterprises seeking to scale into the GCC:

• Well-defined market segments, with diversification across industries (F&B, wellness, tech, finance, fashion...)
• Accessible market channels: trade fairs, franchises, showrooms, e-commerce
• Demand for international consultancy, branding, operations is rising
• Legal & tax frameworks are modernizing to support foreign entrants