Market Soundbites Part 2: Have we turned a corner?
ZAWYA's editor Michael Fahy sat down with Jean-Paul Pigat, head of research at Dubai-based Lighthouse Research, to discuss the big issues impacting global capital markets and the outlook for the year ahead.
By Staff Writer, ZAWYA
In our second instalment, Pigat discusses why the announcement of several large-scale investment projects in Saudi Arabia hasn't yet had the impact people expected.
“It takes time, you know it’s not just a matter of flipping on a switch, spending money and then everyone becomes a millionaire. Project execution in Saudi Arabia and the GCC doesn’t move at the speed of light, it moves at a glacial pace,” Pigat said.
He also talks about why foreign direct investment has collapsed in the kingdom.
Watch Part 1 in the series here, where Pigat discusses how the trade war between the United States and China will impact Dubai and his opinion of the recent fiscal stimulus package rolled out by the Abu Dhabi government.
To see the full video, entitled “Macro in MENA: Have we Turned a Corner”? click here.
Some of the topics discussed include:
The employment outlook for the UAE
Why the drop in residential real estate prices in Dubai could be beneficial to the economy
The impact of Saudisation on KSA’s investment landscape
If pressures on fixed exchange rates in Bahrain and Oman are likely to ease in 2019
(Writing by Shane McGinley; Editing by Michael Fahy) (firstname.lastname@example.org)
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