Lamine BAKAYOKO @Laminebak - Twitter Profile

about 2 months ago

The Gulf will never be the same, and this strikes at the very heart of regional investment Between 2000 and 2015, Dubai experienced explosive growth in sectors like tourism, finance, and construction. The 2007 launch of the ‘Dubai Strategic Plan 2015’ formalized the goal of maintaining double-digit growth and consolidating the nation as a bridge between East and West. Today, oil accounts for less than 30% of the UAE’s total GDP and under 5% of Dubai’s, a model entirely dependent on the perception of stability in an historically volatile region. This was only possible because they realized early on that oil is a finite and volatile resource. To replace this revenue, the focus shifted toward becoming a global connector. For the Emirates, the pillars of this project were legal certainty, through the creation of Free Zones where English Common Law, rather than Sharia, prevails, and massive logistics investment. World-class assets like Emirates Airline and the Port of Jebel Ali transformed the country into an essential stopover, bolstered by a cosmopolitan soft power. By relaxing laws on alcohol, cohabitation, and residency, such as the Golden Visa, they attracted the human capital that once fled the region. The masterstroke was seamless integration: a ship arrives at Jebel Ali, the cargo is processed commercially in a free zone, and the operation is financed by a bank in the adjacent financial center. In Qatar, the model truly prospered in the late 90s when the country became the world’s largest LNG exporter, using that wealth to build global brands like Al Jazeera and Qatar Airways. This was recently consolidated through major international events, like the 2022 World Cup, to secure geopolitical relevance beyond fossil fuels. Like the UAE, Qatar also implemented reforms, notably ending the Kafala system. Since 2020, expats can change jobs without employer consent and no longer need exit permits to leave the country. Furthermore, in 2021, Qatar became the first in the region to set a non-discriminatory minimum wage, significantly boosting its free zones. Meanwhile, Bahrain established itself as the GCC’s most cost-effective fintech hub, offering operating costs up to 48% lower than its neighbors. It is now a global center for Islamic finance with over 360 licensed institutions, focusing on economic freedom and ease of doing business. These nations aren’t just wealthy; they became essential to global flows. However, there is a key difference: while Qatar remains deeply reliant on LNG (90% of export revenues), the UAE achieved greater GDP diversification. The Saudis, however, are now aggressively investing in ‘Vision 2030,’ directly targeting their neighbors’ investments, especially those of the UAE, with whom they have friction. In 2024 and 2025, Riyadh implemented laws requiring multinationals to move their regional headquarters to Saudi Arabia to access government contracts, forcing a migration of corporate power away from Dubai. In truth, the Saudi and Qatari models are inherently more secure as they are still anchored by energy exports. The issue is that by continuing to host foreign bases, which was bound to trigger conflict with Iran, the entire region has jeopardized its model of prosperity. Following the American strike, it wasn’t just valuations that were lost, but the primary competitive ‘moat’: the perception of absolute stability. Ironically, it was regional instability elsewhere that originally fueled these countries, attracting investment and millionaires from across the Islamic world. In 2025 alone, the UAE captured $63 billion and attracted 9,800 millionaires, while Saudi Arabia drew 2,400. Qatar saw its millionaire count jump from just 46 in the year 2000 to over 26,000 in 2024. This entire system, highly dependent on a sense of security, was shattered by the war in Iran. Red the full article: https://t.co/LWE455BOkT

pati_marins64's tweet photo. The Gulf will never be the same, and this strikes at the very heart of regional investment

Between 2000 and 2015, Dubai experienced explosive growth in sectors like tourism, finance, and construction.

The 2007 launch of the ‘Dubai Strategic Plan 2015’ formalized the goal of maintaining double-digit growth and consolidating the nation as a bridge between East and West.

Today, oil accounts for less than 30% of the UAE’s total GDP and under 5% of Dubai’s, a model entirely dependent on the perception of stability in an historically volatile region.

This was only possible because they realized early on that oil is a finite and volatile resource. To replace this revenue, the focus shifted toward becoming a global connector.

For the Emirates, the pillars of this project were legal certainty, through the creation of Free Zones where English Common Law, rather than Sharia, prevails, and massive logistics investment. World-class assets like Emirates Airline and the Port of Jebel Ali transformed the country into an essential stopover, bolstered by a cosmopolitan soft power.

By relaxing laws on alcohol, cohabitation, and residency, such as the Golden Visa, they attracted the human capital that once fled the region.
The masterstroke was seamless integration: a ship arrives at Jebel Ali, the cargo is processed commercially in a free zone, and the operation is financed by a bank in the adjacent financial center.

In Qatar, the model truly prospered in the late 90s when the country became the world’s largest LNG exporter, using that wealth to build global brands like Al Jazeera and Qatar Airways.

This was recently consolidated through major international events, like the 2022 World Cup, to secure geopolitical relevance beyond fossil fuels. Like the UAE, Qatar also implemented reforms, notably ending the Kafala system.

Since 2020, expats can change jobs without employer consent and no longer need exit permits to leave the country. Furthermore, in 2021, Qatar became the first in the region to set a non-discriminatory minimum wage, significantly boosting its free zones.

Meanwhile, Bahrain established itself as the GCC’s most cost-effective fintech hub, offering operating costs up to 48% lower than its neighbors. It is now a global center for Islamic finance with over 360 licensed institutions, focusing on economic freedom and ease of doing business.
These nations aren’t just wealthy; they became essential to global flows.

However, there is a key difference: while Qatar remains deeply reliant on LNG (90% of export revenues), the UAE achieved greater GDP diversification.

The Saudis, however, are now aggressively investing in ‘Vision 2030,’ directly targeting their neighbors’ investments, especially those of the UAE, with whom they have friction.

In 2024 and 2025, Riyadh implemented laws requiring multinationals to move their regional headquarters to Saudi Arabia to access government contracts, forcing a migration of corporate power away from Dubai.

In truth, the Saudi and Qatari models are inherently more secure as they are still anchored by energy exports.
The issue is that by continuing to host foreign bases, which was bound to trigger conflict with Iran, the entire region has jeopardized its model of prosperity.

Following the American strike, it wasn’t just valuations that were lost, but the primary competitive ‘moat’: the perception of absolute stability.

Ironically, it was regional instability elsewhere that originally fueled these countries, attracting investment and millionaires from across the Islamic world. In 2025 alone, the UAE captured $63 billion and attracted 9,800 millionaires, while Saudi Arabia drew 2,400. Qatar saw its millionaire count jump from just 46 in the year 2000 to over 26,000 in 2024.

This entire system, highly dependent on a sense of security, was shattered by the war in Iran.

Red the full article:
https://t.co/LWE455BOkT

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Pedro Sánchez

@sanchezcastejon

2 months ago

Justo hoy, Netanyahu lanza su ataque más duro contra el Líbano desde que empezó la ofensiva. Su desprecio por la vida y el derecho internacional es intolerable. Toca hablar claro: - Líbano debe formar parte del alto al fuego. - La comunidad internacional debe condenar esta nueva violación del derecho internacional. - La Unión Europea debe suspender su Acuerdo de Asociación con Israel. - Y no debe haber impunidad ante estos actos criminales.

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