Some GCC countries to establish new economic zones, intensifying the competition among neighbors

07th Jul 2021

“Some GCC countries are set to establish new economic zones or venture into activities that their neighbours are already good at.”

“This has raised questions about intensifying competition among Gulf states, especially on social media, where many without the professional qualifications are commenting on the topic.”

“It is a healthy phenomenon that pushes rivals towards doing better and contributing to developing their business landscape.”

“This is standard practice in all economic blocs, including within the EU, and also exists among individual US states, where each tries to provide the best environment for local economies to get a boost.”

“Competition is a catalyst for creativity and development!”

“As for the new Saudi airline, it will not disadvantage existing airlines, but rather it will create more benefits for the Gulf’s air transport sector!”

“According to IATA, the number of passengers will double over the next two decades to 7.8 billion, and air freight operations will double, meaning that the expected growth will require twice the capacity of airports and aircraft.”

“Existing airports and facilities will need to go in for expansion and, second, new facilities and airlines will be set up, including in Saudi Arabia.”

Source: Texts were excerpted from Gulf News‘ published article dated July 07, 2021.

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