Latest news with #GulfNations
Malay Mail
2 days ago
- Automotive
- Malay Mail
VinFast Finds Strategic Opening in Gulf's EV Shift
The Gulf nations offer more than growth potential. For VinFast, it presents a well-timed opportunity to expand into a region that's actively investing in clean transportation while remaining open to new players. VinFast officially launched in the Middle East in October 2024. HANOI, VIETNAM - Media OutReach Newswire - 29 May 2025 - Gulf countries are reinventing themselves, quickly. They are now investing in cleaner energy, modern infrastructure, and long-term economic resilience. National strategies like UAE Vision 2031 and Qatar Vision 2030 are pushing change across energy, transport, and vehicles can play an important part in this shift. They support environmental goals and open up new industrial opportunities, helping to build new value chains and attract long-term investment. What's more, people in the region are already warming up to the UAE, for example, 63% of residents want EVs to be their main way of getting around by 2025, according to a YouGov survey[1]. Around 73% believe that by 2028, charging stations will be available every few kilometers. These findings show that consumers are ready for change and already have expectations for the infrastructure. They're looking for reliable options, and they're open to new brands that can deliver quality and long-term are playing an active role in speeding up this transition, in part to prepare for a post-oil future. Countries across the Gulf are investing in EV strategies as part of their broader economic diversification plans. Qatar's EV Strategy 2021 is already showing results. Over 70% of its public buses are now electric[2], and its policies promote local assembly, training, and infrastructure partnerships. Oman is also making progress, with initiatives like Net Zero 3 aimed at cutting emissions and reducing fuel use. The country plans to have at least 22,000 EVs on the road by 2040 and to phase out fossil fuel vehicles by 2050[3].From a bird's eye view, these policies reflect broader national and regional goals to diversify the economy and reduce reliance on fossil fuels. Meeting those goals requires partners who can contribute to more than just car sales, leading governments to look for companies that will help build service networks, support local jobs, and stay for the long call for growth in untapped markets is proving irresistible to international brands. One of them is VinFast, the best-selling car brand in Vietnam. It is stepping into this space with the right offer at the right time, bringing more than ambition. The company has already opened a dealership in downtown Dubai and launched a showroom in Muscat. Its models are smart, practical, and priced to attract high-paying Gulf's EV market is still developing, which gives early entrants like VinFast a real advantage. There's space to build customer trust, establish brand recognition, and help shape the expectations of a new generation of EV buyers. By coming in early and backing up its presence with reliable service and local engagement, VinFast can stand out in a space that is filling up VinFast, a global brand that has established a presence in more than a dozen countries, the Gulf nations and the broader Middle East region are not merely another stop on the map. They represent a strategic move that aligns with both what the company offers and what the region needs. Demand is rising. Policies are in place. And the door is wide #VinFast The issuer is solely responsible for the content of this announcement.
Zawya
2 days ago
- Business
- Zawya
VinFast Finds Strategic Opening in Gulf's EV Shift
The Gulf nations offer more than growth potential. For VinFast, it presents a well-timed opportunity to expand into a region that's actively investing in clean transportation while remaining open to new players. HANOI, VIETNAM - Media OutReach Newswire - 29 May 2025 - Gulf countries are reinventing themselves, quickly. They are now investing in cleaner energy, modern infrastructure, and long-term economic resilience. National strategies like UAE Vision 2031 and Qatar Vision 2030 are pushing change across energy, transport, and technology. Electric vehicles can play an important part in this shift. They support environmental goals and open up new industrial opportunities, helping to build new value chains and attract long-term investment. What's more, people in the region are already warming up to EVs. In the UAE, for example, 63% of residents want EVs to be their main way of getting around by 2025, according to a YouGov survey[1]. Around 73% believe that by 2028, charging stations will be available every few kilometers. These findings show that consumers are ready for change and already have expectations for the infrastructure. They're looking for reliable options, and they're open to new brands that can deliver quality and long-term support. Governments are playing an active role in speeding up this transition, in part to prepare for a post-oil future. Countries across the Gulf are investing in EV strategies as part of their broader economic diversification plans. Qatar's EV Strategy 2021 is already showing results. Over 70% of its public buses are now electric[2], and its policies promote local assembly, training, and infrastructure partnerships. Oman is also making progress, with initiatives like Net Zero 3 aimed at cutting emissions and reducing fuel use. The country plans to have at least 22,000 EVs on the road by 2040 and to phase out fossil fuel vehicles by 2050[3]. From a bird's eye view, these policies reflect broader national and regional goals to diversify the economy and reduce reliance on fossil fuels. Meeting those goals requires partners who can contribute to more than just car sales, leading governments to look for companies that will help build service networks, support local jobs, and stay for the long term. The call for growth in untapped markets is proving irresistible to international brands. One of them is VinFast, the best-selling car brand in Vietnam. It is stepping into this space with the right offer at the right time, bringing more than ambition. The company has already opened a dealership in downtown Dubai and launched a showroom in Muscat. Its models are smart, practical, and priced to attract high-paying consumers. The Gulf's EV market is still developing, which gives early entrants like VinFast a real advantage. There's space to build customer trust, establish brand recognition, and help shape the expectations of a new generation of EV buyers. By coming in early and backing up its presence with reliable service and local engagement, VinFast can stand out in a space that is filling up fast. For VinFast, a global brand that has established a presence in more than a dozen countries, the Gulf nations and the broader Middle East region are not merely another stop on the map. They represent a strategic move that aligns with both what the company offers and what the region needs. Demand is rising. Policies are in place. And the door is wide open. Hashtag: #VinFast The issuer is solely responsible for the content of this announcement. VinFast
Asharq Al-Awsat
4 days ago
- Business
- Asharq Al-Awsat
Wafra Oil Find Boosts Saudi, Kuwait Reserves and Global Energy Security
Saudi Arabia and Kuwait announced a new oil discovery on Tuesday in the divided zone between the two countries, marking the first such find since production resumed in the area in 2020. Located about 5 kilometers north of the Wafra field, the new well, named Wara Burgan-1, has shown a flow rate exceeding 500 barrels per day with an API gravity of 26–27. The discovery is expected to boost the two Gulf nations' proven oil reserves and underscores their role in securing stable energy supplies for global markets. The announcement signals a renewed momentum in exploration and production in the shared neutral zone, which holds significant untapped hydrocarbon potential. The find is particularly notable due to its proximity to the Wafra field, which forms part of the southern extension of the vast Burgan field in Kuwait, one of the largest oil fields in the world. The strategic location lends additional weight to the discovery, being near established reserves with proven productivity. Reviving joint operations The divided zone, rich in hydrocarbons, is jointly administered by Kuwait and Saudi Arabia and includes two main oilfields: Khafji and Wafra. In 2019, both countries signed an agreement to resume and regulate oil output in the area after years of suspended operations. In July 2023, the Kuwait-Saudi Joint Permanent Committee met to discuss expediting oil projects in the zone, including joint operations in both Khafji and Wafra, according to a statement by Kuwait's Ministry of Oil at the time. Strengthening energy security Energy experts hailed the new discovery as a milestone that reflects the natural wealth of the neutral zone and supports the long-term energy security of both countries. Dr. Mohammed Al-Sabban, former senior adviser to the Saudi oil minister, told Asharq Al-Awsat that the find reinforces the region's global and regional economic significance, increasing both countries' oil reserves at a time of market uncertainty. He said recent discoveries of both oil and gas were contributing positively to the economic outlook of Gulf states. 'The announcement confirms the area's resource richness and supports investor confidence amid global oil market volatility,' Al-Sabban said, adding that Saudi Arabia's recent energy sector announcements have expanded its reserves and bolstered its economic resilience. Market stability and strategic depth Economist Ahmed Al-Shahri said the discovery aligns with Saudi Arabia's strategy to maintain its position as the largest oil producer within OPEC and to secure additional proven reserves. He said it also contributes to stabilizing global energy markets. 'This development enhances the credibility of both Kuwait and Saudi Arabia as reliable energy suppliers,' Al-Shahri told Asharq Al-Awsat. 'It also demonstrates the strength of their energy partnership and their commitment to supporting global energy security.' Broader exploration success Earlier this year, Saudi Aramco announced the discovery of 14 new oil and gas reservoirs across the Eastern Province and the Rub' al-Khali Desert. These included six new oil fields, two oil reservoirs, two gas fields, and four gas reservoirs. These discoveries further solidify Saudi Arabia's standing as a global energy leader and expand the country's hydrocarbon resource base. They are expected to open new avenues for economic development and enable the Kingdom to meet both domestic and international energy demands efficiently and sustainably for decades. Officials say these efforts are aligned with Saudi Arabia's Vision 2030, which aims to maximize the benefits of its natural resources and ensure long-term energy security.
South China Morning Post
4 days ago
- Business
- South China Morning Post
Malaysia eyes halal exports to Middle East in bid for new markets amid US trade tensions
Malaysian businesses are eyeing more sales to Gulf nations, whose burgeoning Muslim populations need a wider range of halal products – from pet food to cosmetics – and are willing to pay trusted sources for them. Majority-Muslim Malaysia is a global leader in halal products and has a rigorous certification regime recognised by scores of Muslim nations and bodies worldwide. Qatar , Kuwait , Businesses selling to the six oil-rich nations of Saudi Arabia , the United Arab Emirates Oman and Bahrain who make up the Gulf Cooperation Council (GCC) – a bloc seeking a trade alliance with Southeast Asia – are looking for deeper market access to the Gulf as the US strangles access to its giant consumer base. Edwin Suhairi, who imports and exports cosmetic products between Malaysia and the Middle East, said he hoped negotiations this week between Asean and the GCC would cut the red tape at Gulf ports. 'Demand is still growing. A more streamlined process would be beneficial for my business,' he said, adding that Malaysian sales of Middle Eastern cosmetics had also increased amid boycotts of Western brands over the Israeli assault on Palestinians in Gaza Muslim women look at Islamic beauty products in Malaysia. Demand for halal cosmetics has risen in the country. Photo: Shutterstock
South China Morning Post
5 days ago
- Business
- South China Morning Post
Malaysia eyes halal exports to Middle East amid US trade tensions
Malaysian businesses are eyeing more sales to Gulf nations, whose burgeoning Muslim populations need a bigger range of halal products – from pet food to cosmetics – and are willing to pay trusted sources for them. Advertisement Majority-Muslim Malaysia is a global leader in halal products and has a rigorous certification regime recognised by scores of Muslim nations and bodies worldwide. Qatar , Kuwait , Businesses selling to the six oil-rich nations of Saudi Arabia , the United Arab Emirates Oman and Bahrain who make up the Gulf Cooperation Council (GCC) – a bloc seeking a trade alliance with Southeast Asia – are looking for deeper market access to the Gulf as the US strangles access to its giant consumer base. Edwin Suhairi, who imports and exports cosmetic products between Malaysia and the Middle East, said he hoped negotiations this week between Asean and the GCC would cut the red tape at Gulf ports. 'Demand is still growing. A more streamlined process would be beneficial for my business,' he said, adding that Malaysian sales of Middle Eastern cosmetics had also increased amid boycotts of Western brands over the Israeli assault on Palestinians in Gaza Muslim women looking at Islamic beauty products in Malaysia. The demand for halal cosmetics have risen in the country. Photo: Shutterstock
