Land of Chance, Middle East

Summary

Yesterday government discussed to help Korean companies expand business in the Middle East. That is for raising money from increasing petrodollars. We have an experience on economic development, especially construction and resources development. We can offer and consult their companies. The government will also make an effort to improve the investment envrionment in Middle East contries. Additionally, Seoul has a plan to hold investment-relations conferences for Middle East countries and investors.

My oppinion

In summer 2005, I went Oman. Before I went there, I don’t know well about Middle East. I only knew about War in Gulf or conflictton for religion. However, I totally changed my ideas, after I had experienced. Oman ruled by a King, and he has strong sense of wise and justiceness, he always considered their people based on the Koran. Therefore Oman made a policy quickly, and they are good at using petrodollars. Captial of Oman is Muscat, the city was planned, so that has straight road, and well constructed infra structure. Moreover, they invest continually in resource development and sight seeing.
Nowadays, oil pirce is over than $ 120, and it has a critical threat for many companies. However few companies have an opportunity. Those are construction companies in Middle East, because petrodallars are increased by a high price. It will be invested in their infra structure. Middle East contries worry about oil exhaustion, so they prepare it using their petrodallars. Therefore their investment for future will not finish easily.
I think not only construction companies earn money in Middle East, but also heavy industry companies gather more revenue. During Agflation, Middle East contries want to grow their crop theirself. Dusan is ranked first place in making fresh water, and fresh water is necessary in Middle East for agriculture. Dosan get a lot of orders from Middle East and their stock price increase, too. The government should think widely, if so, Middle East will be more attractive.

References;Author: By Jin Hyun-joo Title: Korean firms set bigger sights on Middle East, The Korea Herald. June 6, 2008

20300174 Nah Kilwoong, Entry - 13