World Finance announces winners of 2017 GCC Investment and Development Awards

/EINPresswire.com/ -- LONDON, ENGLAND--(Marketwired - Oct 16, 2017) - In every country, the financial sector plays a central role in setting the pace of economic development. Nowhere is this more apparent, however, than across the economies of the Gulf Cooperation Council (GCC), where a huge pivot towards the non-oil sector is crucial in securing future prosperity. The World Finance GCC Investment and Development Awards celebrate those in the sector that are striving to spur job-creating growth and improve prospects for future generations.

Since last year, an upswing in oil prices has provided a new burst of momentum to all of the economies of the GCC. Indeed, according to the IMF, a pick-up in the pace of growth is likely to occur in 2018, with aggregate growth forecast to surge to 2.5 percent. This compares to just 0.9 percent that has been projected for this year.

While this momentum is positive news, it is universally acknowledged that the key to economic sustainability and stability in the area is a stringent diversification plan, with a much-needed focus on creating new opportunities for entrepreneurs. With the long-term future of the Gulf region hanging on the success of investment decisions made today, shrewd and forward-thinking investment strategies are crucial.

Where investment and development strategies are successful, a virtuous cycle can be set in motion, bringing a self-reinforcing combination of stronger investment, higher confidence, greater FDI and output growth.

As growth starts to pick up in the region, it is important to highlight some of the positive work that is supporting the shift to a more inclusive and sustainable economy. There are a number of players in the sector that are fighting to make a real difference, and the World Finance GCC Investment and Development Awards celebrate those that are leading the diversification effort, creating new opportunities and unlocking the future potential of the region.

The World Finance research team of in-house experts has consulted a number of indicators to select the institutions most worthy of this year's World Finance GCC Investment and Development Awards.

To see a full list of this year's winners, pick up the latest issue of World Finance, available in print, online and on tablet now.

http://www.worldfinance.com/

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