Arqaam Capital is pleased to invite you to its 11th Annual MENA Investor Conference.

We are hosting the conference in The Ritz-Carlton, DIFC at the heart of the Dubai Financial Center.

The conference will link 60+ MENA corporates with regional and international investors, offering 1x1 and small group meetings.

Multiple rate cuts are priced in for this year as inflation has moderated, opening upside for high dividend names and growth stocks, at the expense of rate-sensitive banks. Meanwhile, soft global growth weighs on commodity and petrochemical stocks.

Non-oil activity is particularly robust in KSA and the UAE, with upside from positive changes in the rest of the Gulf. We are positive about the new political appointments in Kuwait, Qatar’s launch of its third NDS plan, and the continued steps of Oman to target an upgrade to Emerging Market status.

Oil prices are high enough to fund the continued diversification of the economies in the region aided by proactive OPEC+ supply policies despite a planned phase-down of fossil fuels. Secular growth is strong, even though the benefits from re-opening are likely slow. Economic diversification, localization of production, large projects, and market reforms are good investment themes. We are particularly upbeat about the growth prospects in the healthcare, education, logistics, tourism, construction, industrial, and ICT sectors.

We are looking forward to seeing you all in Dubai.

Jaap Meijer, MBA, CFA

Head of Research