The Arab Gulf countries have witnessed the launch of massive economic and development projects in various sectors in 2022 as part of their strategy to diversify their economies and eliminate their dependence on oil revenues.
The following are some of the projects major launched by four Gulf countries in 2022:
Saudi Arabia
Saudi Arabia announced a $300 million investment in a wind energy project in Azerbaijan in January 2022.
In February 2022, Saudi Crown Prince Mohammed bin Salman announced the discovery of four gas fields in the Kingdom, and the Public Investment Fund decided to expand in global markets with new offices, while Aramco completed the gas pipeline network deal with a consortium of international investors for $15.5 billion.
During the same month, a digital bank was licensed with a capital of $440 million. In addition, a portal was launched to limit Saudi agricultural investments abroad, the smart cities strategy was approved, and the industrial sector’s workforce strategy was launched.
NEOM launched the energy and water company Inwa in March 2022, while the Saudi Ports Authority launched 12 investment opportunities for the private sector last May.
A Saudi-Turkish agreement was signed in June to develop production and investment companies and encourage the private sector.
In June, the Al-Ula Authority launched Wadi AlFann (Valley of the Arts), a new global cultural destination for contemporary art, where era-defining works by some of the most compelling artists from around the world will be permanently placed in the monumental landscape of AlUla, the extraordinary desert region of north-west Saudi Arabia steeped in thousands of years of natural, historical and cultural heritage.
NEOM was awarded two contracts to build two tunnels for high-speed transportation in the city of “The Line” and to build the first desalination plant powered by 100 percent renewable energy. In addition, it has been approved to organize the atomic and renewable energy city, amend the retirement and insurance systems, and license three companies to develop 15 digital government platforms and products.
In July, Saudi Arabia announced a $28 billion allocation for five-year water system projects. The Saudi Crown Prince also launched the second phase of developing historical mosques with an urban identity and announced national aspirations and priorities for research, development, and innovation in the same month.
Qatar
More than 20 new hotels, resorts, and tourist destinations opened in Qatar in 2022 in preparation for the World Cup.
Qatar and Bahrain resumed work on the bridge project connecting the two countries at the start of the year after it had been halted since the summer of 2017.
During 2022, the number of public hospitals in Qatar increased to 16, and the number of public health centers rose to 33.
The private health sector expanded significantly as well, with the number of facilities increasing to 10 hospitals, 19 surgical centers, and 390 general and specialized health centers, including dental centers.
Qatar has steadily increased the number of scientific research institutions and centers, bringing the total to 33 centers and institutions.
In collaboration with Microsoft, the Ministry of Communications and Information Technology launched large-scale cloud data centers in August.
Doha finished more than 1,791 kilometers of road last year, as well as 207 bridges and 143 tunnels. It also built 2,131 km of pedestrian and cycle paths in most local and highway projects, as well as more than 16 bridges and five pedestrian tunnels.
Moreover, many projects involving beaches, public parks, service buildings, pedestrian and bicycle paths, rainwater and groundwater drainage networks were completed in 2022.
Qatar has also opened the region’s largest electric charging station, powered by high-efficiency solar energy, and opened the region’s first bus station of its kind.
The Qatari Ministry of Transportation has completed the development of the public transportation bus infrastructure program, which includes eight stations and four bus depots strategically located throughout the country.
The Ministry of Transportation also launched a strategy for the gradual transformation of electric vehicles, with plans to convert public transportation buses to 100 percent electric buses by 2030.
In September 2022, Qatar began activating its newly developed airspace and launched the first phase of the Doha Flight Information Region. As a result, the capacity was increased to approximately 100 air movements per hour.
The capacity of Hamad International Airport also increased to accommodate more than 58 million passengers per year in 2022.
UAE
The UAE Ministry of Foreign Affairs and International Cooperation announced the launch of an initiative in January 2022 to secure funding for renewable energy projects in Africa.
The program aims to provide clean electricity to 100 million people by 2035 by raising public and private sector funds to invest in clean energy under the Ministry of Foreign Affairs’ guidance and coordination.
Last November, the Abu Dhabi Ports and Invictus investment alliance announced the signing of a preliminary agreement worth $6 billion with the Sudanese government to develop and operate the Abu Amama port and a new economic zone on the Red Sea coast.
In the same month, the UAE launched the $272.3 million “Emirates Villages” project to develop a sustainable model and create economic and investment opportunities.
In November, the UAE also launched its national satellite program to create a swarm of radar satellites capable of providing continuous radar imaging in all weather conditions.
At the same time, it announced the creation of an $820 million fund to support the UAE’s space sector.
Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai announced in October the launch of a national program aimed at exporting advanced Emirati technology products worth $4.8 billion annually. The program aims to develop 1,000 technological projects, establish national centers for industrial empowerment, and export advanced Emirati technical products.
Bahrain
Bahrain launched the first phase of the 109-kilometer-long Bahrain Metro project in May. The first phase includes constructing two lines totaling 29 kilometers and 20 stops.
ACWA Power, a Saudi company, announced the start-up of the “Floor 2” project in Bahrain in June 2022, with a capacity of 227,000 cubic meters of desalinated water and 1,500 megawatts of electric power per day.
The Jumeirah Bay Resort project was launched last October on the southwestern coast of Bahrain and will include 207 rooms, two beaches, five swimming pools, a health club, a water canal, and recreational games.
Manama opened the Bahrain International Exhibition and Convention Center in November, making it the Middle East’s largest exhibition and conference city.
In February, Bahrain launched a commercial zone with the United States that spans two million square meters and includes 130 plots. The trade zone will serve as a regional hub for trade, manufacturing, logistics, and distribution, opening up new opportunities for cooperation and trade between the two countries.