Middle East countries could attract $125bn investment
The Middle East economies are stepping up their efforts to become major players in the global technology scene, with several initiatives rolled out in the direction. Localising the manufacture of high-technology products presents a $125 billion economic opportunity for countries in the region, a new study from Strategy& Middle East found. Three major product areas — advanced materials, advanced components and advanced products — are expected to drive investments and economic growth and diversification, said Strategy&, which is part of global consultancy PwC. Three products, in particular — semiconductors, sensors and robots for industrial or general-purpose use, could provide an estimated $25bn in revenue by 2025, it added.