Development
Latest news, analysis, and updates on Development from A47 News.
3 stories in Economy · Updated live
Iraq cancels $764 million airport redevelopment project amid corruption concerns
Iraq has scrapped a $764 million redevelopment project for Baghdad International Airport due to corruption allegations. This decision was made by Prime Minister Ali Al-Zaydi as part of a broader anti-corruption initiative. The long-term implication is that this move may impact future infrastructure projects and foreign investments in Iraq.
GCC youth population reaches 23.5 million with rising employment rates
The youth population in the Gulf Cooperation Council has reached 23.5 million in 2024, marking a significant demographic shift. This increase is driven by a positive trend in workforce participation, with 14.2 million young people employed in 2025. Long-term, this demographic growth is expected to necessitate enhanced education and employment policies to support economic prosperity in the region.
Kuwait launches 15-year residency program for foreign investors
Kuwait has introduced a new residency program allowing foreign investors to obtain residency permits for 15 years by investing at least $16 million. This initiative is aimed at boosting the economy and attracting foreign capital at a time when Gulf countries are enhancing investment opportunities. The long-term implication may lead to increased foreign investment and influence similar policies in neighboring countries.
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Kuwait launches 15-year residency program for foreign investors
Kuwait has introduced a new residency program allowing foreign investors to obtain residency permits for 15 years by investing at least $16 million. This initiative is aimed at boosting the economy and attracting foreign capital at a time when Gulf countries are enhancing investment opportunities. The long-term implication may lead to increased foreign investment and influence similar policies in neighboring countries.
GCC youth population reaches 23.5 million with rising employment rates
The youth population in the Gulf Cooperation Council has reached 23.5 million in 2024, marking a significant demographic shift. This increase is driven by a positive trend in workforce participation, with 14.2 million young people employed in 2025. Long-term, this demographic growth is expected to necessitate enhanced education and employment policies to support economic prosperity in the region.
Iraq cancels $764 million airport redevelopment project amid corruption concerns
Iraq has scrapped a $764 million redevelopment project for Baghdad International Airport due to corruption allegations. This decision was made by Prime Minister Ali Al-Zaydi as part of a broader anti-corruption initiative. The long-term implication is that this move may impact future infrastructure projects and foreign investments in Iraq.