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BELGIAN ECONOMIC MISSION TO MOROCCO

hub.brussels (Brussels Trade Agency) is organising with AWEX (Wallonia Investment & Trade Agency) an Economic Mission to Morocco (Casablanca, Rabat and Tanger) from 14 to 18 October. The main purpose of this visit is to develop further economic ties and explore the opportunities offered by the Moroccan market.

Morocco has always been a gateway to the African continent but, in the past years, the authorities introduced a large panel of reforms in order to facilitate international trade and business. They include a policy of development for high potential sectors, a stimulating environment, financial incentives, the creation of off-shore zones.

ZEEBRUGE PORT & FLUXYS

The Belgian gas infrastructure group Fluxys signed a 25 years agreement with Qatar Petroleum (QTL) facilitating the entry of Qatari Liquefied Natural Gas (LNG).

Speaking at the signing ceremony, Qatar Petroleum's CEO Saad Al-Kaabi declared: “We are delighted to sign this landmark agreement today to extend and expand our existing long-term partnership with Fluxys Belgium for decades to come. We believe this arrangement will further support our customers in Belgium and Europe in general, by providing access to reliable LNG supplies from Qatar and allowing our customers to maximise the utilisation of such supplies.”

The ceremony was attended by the Ambassador of Qatar in Brussels H.E.  Abdul Rahman Bin Mohamed Al-Khulaifi and other senior representatives from Qatar Petroleum.

Credit: Gulf-Times

Pascal De Buck, CEO of Fluxys, owner and operator of the Zeebrugge LNG terminal, also declared: 'We are particularly pleased at Fluxys with this new milestone in our long-standing cooperation with Qatargas at the Zeebrugge LNG terminal. The Q-Max delivery demonstrates the versatility we offer our customers, with LNG carriers of all types and sizes able to dock at the facility, ample pipe gas take away capacity for delivery throughout Northwestern Europe and a range of options for downstream small-scale LNG distribution.

The Belgian Minister of Energy Marine Christine Marghem praised the close and fruitful cooperation between Belgium and Qatar, and added that Qatar provides about 15% of the consumption of gas in Belgium.

Meanwhile, the Fluxys Terminal in Zeebrugge finished the construction of a storage tank for LNG making the port a crucial hub for the transport of gas.

Source: TIJD, RTBF, GULF TIMES

DUBAI TO ATTRACT MORE PRIVATE SECTOR INVESTMENT

Dubai has established a dedicated unit to focus on public-private partnerships (PPP) as it looks to develop and maintain a sustainable, high quality infrastructure in the city.

Abdulrahman Saleh Al Saleh, director general of Dubai's Department of Finance (DOF), said he expects the private sector will engage in projects and initiatives with the government worth tens of billions of dirhams within the next few years.

"We are continuously aspiring to enhance financial sustainability of the public sector and stimulate economic growth in Dubai. In line with these aspirations, DOF is placing key focus on public private partnerships aiming to leverage local and international private sector expertise, efficiency, and innovation," he said.

"This business model has proved successful in countries that have been implementing it for a long period of time," said Al Saleh. "Alternative financing serves as a catalyst and a conduit for the attainment of additional strategic imperatives such as economic diversification, foreign direct investment, encouragement of local entrepreneurship and industry, and the pursuit of sustainable economic growth.

"In order to adhere to the targets set out by the Dubai Plan 2021 and the Dubai Industrial Strategy 2030, Dubai must deliver the infrastructure required to meet the needs of a growing population, and develop the Emirate as one of the world’s leading financial, touristic and commercial hubs," he added.

Source: Arabian Business