GCC Railway Network to Boost Economic Growth

According to Mohsen Ahmad, President of Dubai World Central’s Logistics District, the new GCC Railway Network will help create an era of economic growth when completed in 2018.

At present only 6% of Saudi Arabia’s international trade is with the other five nations of the GGC. The new railway network will boost connectivity with the other nations of the region and should significantly increase its exports and imports from within the region.

The new internal railway networks will aid the member states to boost their non oil economies too. Much of their capital income is from oil, but the new networks will aid commerce and trade in things like ores and aggregates, as well as lubricating their congested city streets by getting more people off the roads and onto public transport.

Oman is pushing its own network as a potential bypass of the troubled Straits of Hormuz, which will enable East West trade that normally passed through the Straits on the way to the Suez Canal to come inland instead in times of crisis.

As countries capitalize on the benefits of the new railway networks, their economies can only prosper.