{"id":83380,"date":"2024-12-26T00:00:00","date_gmt":"2024-12-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2024\/12\/26\/today-big-investments-flowing-into-irans-maritime-sector-adfd-supports-maldivian-airport-development\/"},"modified":"2024-12-26T00:00:00","modified_gmt":"2024-12-26T00:00:00","slug":"today-big-investments-flowing-into-irans-maritime-sector-adfd-supports-maldivian-airport-development","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2024\/12\/26\/today-big-investments-flowing-into-irans-maritime-sector-adfd-supports-maldivian-airport-development\/","title":{"rendered":"TODAY: Big investments flowing into Iran\u2019s maritime sector + ADFD supports Maldivian airport development"},"content":{"rendered":"

Good morning, folks. <\/strong>It\u2019s a relatively quiet day on the regional logistics front as we head into the final weekend of 2024. We have the latest on Iran\u2019s port and maritime development plans along with a splash of investment updates from Egypt and the UAE. Shall we?<\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a><\/strong>Qatar will offer technical assistance and support to rebuild Damascus International <\/strong>Airport<\/strong>,<\/strong> Qatari Prime Minister Majad Al Ansari told reporters during a media briefing (watch, runtime: 09:52<\/a>). No further detail in terms of a timeline or financial investment were disclosed.<\/p>\n

There\u2019s more:<\/strong> Qatar, along with Jordan, also expressed its preparedness to invest in Syria\u2019s ports and energy sector infrastructure, Reuters<\/a> reports, citing comments made by de facto Syrian leader Ahmed al-Sharaa to press after a meeting with Qatar\u2019s Foreign Affairs Minister Mohammed Al-Khulaifi this week. <\/p>\n

IT\u2019S ALL HANDS ON DECK- Turkey is also getting involved in rebuilding efforts:<\/strong> Turkey has developed an action plan to repair and rebuild Syria's airports, bridges, roads, and railways after assessing the situation on hand, Anadolu Agency<\/a> reports, citing comments made by Turkish Transportation and Infrastructure Minister Abdulkadir Uraloglu at a press conference in Ankara. There are plans to carry out rebuilding work at Damascus Airport and restore rail links including the Hejaz railway which connects Istanbul, Damascus, Mecca, and Medina. <\/p>\n

<\/a><\/strong>Egypt + IM<\/strong>G discuss freezone tax rates:<\/strong> Egypt's Finance Ministry and the International Monetary Fund (IMF) are discussing how to simplify the tax rate system for companies operating within Egyptian freezones, Al Borsa<\/a> reports, citing unnamed government sources. This system aims to enhance tax compliance, as businesses, projects and their profits within Egyptian freezones are exempt from taxes and fee laws.<\/p>\n

What we know:<\/strong> Projects in public freezones are subject to a fee of 1% of the total revenues which goes to Egypt\u2019s General Authority for Investment and Freezones (GAFI), while projects in private freezones are subject to a 2% fee of the total revenues distributed equally between Egypt\u2019s Finance Ministry and GAFI. The Egyptian Tax Authority has requested GAFI supply data on the business volume of companies in public freezones, including their exports and imports, to enhance governance and tax compliance, even for tax-exempt companies, the sources added.<\/p>\n

<\/a><\/strong>Russia and Azerbaijan have<\/strong> provided the necessary financing for the joint <\/strong>Rasht-Astara<\/a><\/strong>railway project<\/a><\/strong> with Iran<\/strong>, Russian Deputy Prime Minister Vitaly Saviev said<\/a> in a meeting with Iran\u2019s President Masoud Pezeshkian. Russia pledged to invest EUR 1.6 bn in the Rasht-Astara railway back in May 2023. Once operational, the corridor\u2019s first phase aims to transport 15 mn tons of goods between Russia and Iran. The initiative falls under Iran\u2019s International North-South Transport Corridor (INSTC) \u2014 a network of ship, rail and road routes connecting South Asia to Europe. The INSTC \u2014 which links Russia, India, Iran, and Azerbaijan \u2014 had a missing link of 162 km between Rasht in Iran and Astara in Azerbaijan.<\/p>\n

\n

MARKET WATCH- <\/p>\n

O<\/strong>il prices<\/strong> rose marginally in holiday trading buoyed by hopes for more economic <\/strong>stimulus in China and a decline in US crude inventories<\/strong>, Reuters<\/a> reports. Brent crude futures rose USD 0.22 to USD 73.80 a barrel by GMT 04.50, while US West Texas Intermediate (WTI) climbed USD 0.24 to USD 70.34 a barrel.<\/p>\n

\n

DATA POINT- <\/p>\n

#1-<\/strong> Iran\u2019s Arak Railway\u2019s cargo volumes were up 18% y-o-y transporting around 1.1 mn <\/strong>tonnes of cargo in 9M 2024<\/strong>, IRNA<\/a> reports, citing the Director-General of Arak County Railway Saeed Turki. Goods including diesel, polyethylene, chemicals, and wheat were transported by 19k wagons to different parts of the country. The railway\u2019s ton-kilometers reached 75.2 mn during the same period, marking a 47% increase y-o-y. <\/p>\n

#2-<\/strong> Iraqi Ports Authority revenue surpasses IQD 1 tn in 2024<\/strong>, according to a statement<\/a>. General Director of the Iraqi Ports Authority Farhan Al Fartousi attributed the revenue growth to the development of port facilities, removing the obstacles for importers, and the introduction of electronic automation systems. <\/p>\n

#3- <\/strong>Saudi\u2019s<\/strong> re-export sector grows 23%: <\/strong>Saudi Arabia\u2019s re-export sector exports reached SAR 61 bn in 2024 marking a 23% growth, Alarabiya<\/a> reported, citing Industry and Mineral Resources Minister Bandar Alkhorayef. <\/p>\n

\n
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The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

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***<\/strong>YOU\u2019RE READING EnterpriseAM Logistics, the essential MENA publication for senior <\/strong>execs who care about the industry that connects producers and retailers to global markets. <\/strong>We\u2019re out Monday through Thursday by 9:15am in Cairo and Riyadh and 11:15am in the UAE.<\/p>\n

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DID YOU KNOW <\/strong>that we also cover Egypt<\/a>, Saudi Arabia<\/a>, the UAE<\/a>, and the MENA<\/a>climate industry<\/a> ?
***<\/strong><\/p>\n

CIRCLE YOUR CALENDAR-<\/strong><\/p>\n

Switzerland will host the <\/strong>World Economic Forum Annual Meeting<\/a><\/strong> from Monday, 20 <\/strong>January to Friday, 24 December <\/strong>in Davos. The conference \u2014 under the theme Collaboration for the Intelligent Age \u2014 will gather global leaders to address geopolitical shocks and stimulate growth across five thematic priorities; rebuilding trust, reimagining growth, investing in people, safeguarding the planet, and industries in the intelligent age. <\/p>\n

Belgium will host the <\/strong>World Cargo Summit<\/a><\/strong> from Monday, 27 January to Wednesday, <\/strong>29 January <\/strong>in Ostend. The event will focus on air cargo economics, strategy, and market trends with a specific focus on how the industry will tackle disruptions and how firms can adapt their business models. <\/p>\n

The UAE will host the <\/strong>ShipTek International Conference<\/a><\/strong> from Wednesday, 29 <\/strong>January to Thursday 30 January<\/strong> in Dubai. The two-day conference will gather industry experts, including managing director at Hapag-Lloyd Carolin Stumm, CEO Adani Ports Nicolai Friis, VP International Maritime Industries Justin Taylor, CEO Tristra Tim Coffin, and others to discuss new tech and developments in the maritime industry.<\/p>\n

The UAE will host the <\/strong>Middle East Bunkering Convention<\/a><\/strong> from Monday, 3 February <\/strong>to Wednesday, 5 February<\/strong> in Dubai. The event will focus on the marine fuels sector to address the future of the industry in light of geopolitical issues, environmental regulation, and the future of artificial intelligence and digitalization.<\/p>\n

Saudi Arabia will host the <\/strong>Airport Expansion Conference<\/a><\/strong> from Tuesday, 4 February <\/strong>to Wednesday, 5 February<\/strong> in Riyadh. The two-day conference will feature over 30 speakers to discuss challenges faced by Saudi Airports and highlight Saudi Arabia\u2019s Vision 2030 with a clear focus on expansion, tech, and strategic partnerships. <\/p>\n

The UAE will host the <\/strong>Middle East Breakbulk Conference<\/a><\/strong> from Monday, 10 February <\/strong>to Tuesday, 11 February <\/strong>in Dubai. The event gathers giant manufacturers, EPCs, and service providers to discuss the latest solutions in breakbulk and heavy-lift logistics across the Middle East and Africa. The two-day event features an artificial intelligence (AI) seminar, heavy lift workshop, chartering workshop, and a women in breakbulk panel.<\/p>\n

Check out our full calendar<\/strong> at the bottom of this email for a comprehensive listing of upcoming news events and news triggers.<\/p>\n","protected":false},"excerpt":{"rendered":"

What we\u2019re tracking this morning regionally and around the world<\/p>\n","protected":false},"author":1,"featured_media":83381,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[18],"tags":[145,49,119,39,153,121,356,32,231,16],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-83380","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-aviation","tag-egypt","tag-iran","tag-jordan","tag-qatar","tag-rail","tag-syria","tag-trade","tag-turkey","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"9b0ba751-058f-498e-9168-f85d7aa20c54","order":"2","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/1\/1123.jpg","photo_position":"above","homepage_title":"","full_issue_title":"TODAY: 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