The UAE 's economy is also largely tied to oil exports and production. As Kuwait emerges from nearly a decade of reconstruction following the 1991 Gulf War, long-awaited privatization measures should stimulate local economic activity. The government is currently considering proposals to relax investment laws and encourage foreign investment. Qatar's North Field is the largest LNG deposit in the world. The country is aggressively encouraging foreign investment, particularly through joint ventures with Qatari partners.
Privatization is also a major priority in Oman .
The government recently announced plans to partially privatize the General Telecommunications Organization and to sell the country's major international airport to the private sector. Oman, the UAE and Qatar are well placed to meet the future energy needs of the populous area stretching from Iran through the Asian sub-continent. In the meantime, infrastructure work on the regional energy transmission grid and port facilities will provide ample opportunities for Canadian firms specializing in the energy and transportation sectors. With little crude oil production, Bahrain hopes to become a major financial centre and tourism destination. The fast-growing economies of the Arabian Gulf states offer several opportunities for Canadian businesses and the good thing is that they do not have to go it alone.