meed-logo

line1 line2 line3
SIGN IN / REGISTER

Trump 2.0 targets technology

30 January 2025

 

As Donald Trump settles into his second term, dubbed ‘Trump 2.0’, the administration is set to bring about a seismic shift in global technology, artificial intelligence (AI) regulation, data sovereignty, cryptocurrency and the ever-escalating US-China tech war.

The central role that technology is expected to play was demonstrated at Trump’s inauguration on 20 January, where Tesla and SpaceX CEO Elon Musk, Meta CEO Mark Zuckerberg, Alphabet Inc CEO Sundar Pichai and Amazon founder Jeff Bezos had prime seats.

With Trump championing policies prioritising domestic interests and reshaping international dynamics, Middle Eastern investors and companies will play a key role in shaping this new era of tech-infused geopolitics.

The wheels are already turning. On 22 January, just two days after Trump’s inauguration, he announced that Abu Dhabi- based AI-focused fund MGX has teamed up with US-based tech firms Oracle and ChatGPT creator OpenAI, and Japan’s Softbank, to form the Stargate project, which aims to invest $500bn to build AI infrastructure in the US.

When announcing the project, Trump described it as “the largest AI infrastructure project by far in history”.

America first

Two weeks earlier, on 7 January, Hussain Sajwani, founder and chairman of UAE-based Damac Properties and Damac Group, made headlines by pledging $20bn to develop data centres in the US.

Sajwani’s $20bn commitment to US data centres is not just a business transaction – it demonstrates the UAE’s strategic pivot to align with Trump’s America First policy. Unlike the real estate deals offered by Sajwani that Trump publicly declined in 2017, the latest investment offer places resources directly into the US, promising jobs, innovation and a fortified tech infrastructure in states including Texas, Ohio and Michigan.

For MGX, Sajwani and other Gulf investors, the deal offers not only financial returns but also political capital in an administration that values loyalty and mutual economic benefit. 

The timing is also strategic: as Trump prepares to loosen regulatory constraints on AI and data, Gulf nations have the opportunity to tap into US expertise while positioning themselves as indispensable partners in the rapidly shifting tech landscape.

Tech wars

Geographically and politically, the Middle East – particularly the GCC states – sits in the middle of the simmering tech war between China and the US, which may boil over during the Trump presidency.

The decoupling of the two economies is expected to continue, with Trump reinforcing policies that discourage US companies from engaging with Chinese firms.

Policies could involve stricter foreign investment vetting and expanded technology transfer restrictions to China. The Trump administration has also threatened to impose high tariffs on Chinese goods, which could disrupt the established ties between US and Chinese tech industries. 

The ongoing tensions could lead to a bifurcation of global supply chains, with significant implications for companies operating in both markets.

For Middle Eastern countries, this decoupling offers a rare window of opportunity. As the US and China distance from one another, GCC players can position themselves as neutral ground for technology partnerships. The region could bridge the two worlds by attracting global firms to invest in regional tech hubs that offer a haven for talent and innovation.

Trump’s America First policies are also expected to accelerate the development of the US semiconductor sector, a critical component of the tech war. While this could disrupt global supply chains, it may also create demand for GCC investments in US tech manufacturing and research facilities, further deepening economic ties.

Another transformative area of Trump’s second term will be his approach to AI.

On 13 January, just days before Trump took office, the White House issued a brief of a regulation by the Department of Commerce imposing controls on the exports of advanced computing integrated circuits that support AI.

The regulation’s final draft divides countries into three tiers. Chip exports to the top-tier countries, comprising 18 of the closest US allies, are “without limit”, while the third tier is reported to comprise countries of concern, including Macau (China) and Russia.

All other nations and states, including those in the GCC, are presumed to be mid-tier countries, where a cap of approximately 50,000 graphics processing units between 2025 and 2027, will apply.

Individual companies from these countries will be able to achieve higher computing capability if they comply with US regulations and obtain validated end-user status.

The White House brief is no longer available online, but a copy of the regulation can still be found in the Federal Register, the US government’s daily journal.

Middle Eastern investors and companies will [help shape] this new era of tech-infused geopolitics

Deregulation likely

The regulation-heavy approach of former president Joe Biden’s administration will likely give way to a deregulatory environment, emphasising commercial innovation over antitrust crackdowns.

For GCC countries such as Saudi Arabia and the UAE, this presents a double-edged sword. Both nations have ambitious AI investment plans – Abu Dhabi’s MGX partnership with BlackRock and Microsoft aims to mobilise $100bn for AI infrastructure, while Riyadh’s Project Transcendence seeks to redefine the region’s technological footprint. Trump’s deregulatory policies could catalyse innovation and partnerships with US firms, offering access to cutting-edge AI solutions.

The emphasis on deregulation may also create challenges. Without robust ethical and safety guidelines, the global AI ecosystem could face reputational risks, making cross-border collaborations more complex. For the GCC, balancing the benefits of US technological advancements with the need for ethical AI development will be a delicate dance.

As geopolitical tensions rise, the effects of Trump’s focus on data sovereignty will reach far beyond US borders. Nations increasingly prioritise data protection, creating stricter regulations to control where and how data is stored, and the GCC, with its ambitious AI and data centre projects, must adapt swiftly to these changes.

The outlook for developing energy-hungry data centres in the US could be further bolstered by plans to deregulate the energy industry. 

“If energy deregulation is unleashed, the biggest beneficiaries of Trump’s energy policies could be in data centre buildout, with implications for US leadership in AI, both in next-generation technologies and economic dominance over the coming generation,” according to a report by GlobalData’s TS Lombard.

For Middle Eastern businesses, Trump’s policies could mean stricter requirements when working with US tech firms. Data from US companies and citizens may need to be stored domestically, complicating cross-border operations. 

However, this also presents an opportunity for the GCC states to bolster their data sovereignty frameworks, attracting investments from companies seeking alternatives to US or Chinese infrastructure.

The unexpected should be expected, and the future belongs to those who adapt the fastest

Backing Bitcoin

Cryptocurrency is another major opportunity for the GCC. 

Trump’s surprising endorsement of Bitcoin – the price of which recently surged past $75,000 – signals a potential shift in US crypto policy. A more favourable regulatory environment under Trump could drive mainstream adoption of cryptocurrencies, attracting investors and innovators alike.

As regional players such as the UAE have been pioneers in blockchain technology, this could catalyse further growth. 

Dubai’s Blockchain Strategy 2025, aimed at positioning the emirate as a global blockchain hub, aligns well with Trump’s pro-Bitcoin stance. By collaborating with US firms and leveraging blockchain’s potential for financial and governmental applications, the GCC could cement its position as a leader in the cryptocurrency space.

As his backing of Bitcoin demonstrates, Trump’s position on tech issues is hard to predict. This was reinforced when he issued an executive order allowing social media application TikTok to resume services to its 170 million users in the US. 

On 18 January, the Chinese-owned app stopped working in the US after a law banning it on national security grounds came into effect. Trump had previously supported plans to ban the app. 

For business and government alike, the message is clear: the unexpected should be expected, and the future belongs to those who adapt the fastest.

As Trump reshapes the global tech landscape, GCC investors like Sajwani are well positioned to capitalise on the changes. The US-China decoupling, AI deregulation and a focus on data sovereignty create openings for Middle Eastern nations to assert themselves as key players in the global tech economy.

Challenges remain. Trump’s America First policies could lead to tighter restrictions on foreign investments, requiring Gulf investors to navigate a more complex regulatory environment. Additionally, the potential talent drain to the US, driven by Trump’s prioritisation of domestic commercial interests, could slow the region’s AI ambitions.

To stay competitive, GCC nations will need to double down on their investments in education, infrastructure and innovation. By fostering homegrown talent and creating favourable conditions for international partnerships, the region can mitigate the risks of Trump’s policies while reaping the rewards. 

READ MEED’s YEARBOOK 2025

MEED’s 16th highly prized flagship Yearbook publication is available to read, offering subscribers analysis on the outlook for the Mena region’s major markets.

Published on 31 December 2024 and distributed to senior decision-makers in the region and around the world, the MEED Yearbook 2025 includes:

> GIGAPROJECTS INDEX: Gigaproject spending finds a level
https://image.digitalinsightresearch.in/uploads/NewsArticle/13349615/main.gif
Colin Foreman

Register for MEED's guest program now to access this article.

Click here to register
Exclusive from Meed
Related Articles
  • Ashghal tenders Mekeines-Umm Bab link road

    30 October 2026

     

    Qatar’s Public Works Authority (Ashghal) has tendered a contract for the design and construction of the Mekeines to Umm Bab Link Road and associated infrastructure.

    The tender was issued on 29 October, with a bid submission deadline of 22 December.

    The scope comprises:

    • Highway works, including main carriageways, access roads, grade-separated ramps, junctions and tie-ins to existing networks
    • Dedicated non-motorised user facilities, footpaths and shared-use cycle paths
    • Structural installations, including camel underpasses, a QatarEnergy culvert and gateway monumentation
    • Extensive dry and wet utilities, encompassing Kahramaa potable water and electrical transmission networks, surface water drainage, street lighting and dedicated communication networks for Ooredoo, the Qatar National Broadband Network and the Qatar Armed Forces

    Under the scope of work, the appointed contractor will execute full design verification and turnkey construction under Ashghal’s standard Building and Engineering Design and Build General Conditions of Contract (2018 Edition) on a lump-sum basis. Engineering subconsultants must hold Grade 1 or International classification with the Ministry of Municipality across civil, architectural, mechanical and electrical engineering disciplines.

    The contract stipulates an execution period of 1,260 calendar days (3.5 years) from the commencement date, followed by a 400-day maintenance liability period. 

      The project is open to local and international contractors classified as Grade A in roads specialisation by Qatar’s Ministry of Finance (MoF).

      Foreign firms may participate independently or within a joint venture, provided the joint venture leader holds the requisite classification, by registering through the MoF e-procurement portal with attested equivalent certification from their home countries.

      The planned corridor is located within Al-Rayyan Municipality across Zones 82 to 84 in the Al-Sheehaniya area.

      At its eastern end, the link road begins about 40 kilometres southwest of central Doha, tying into the Salwa Road Interchange 42. At the western terminus, it connects to the roundabout adjacent to Umm Bab on the Abu Samra to Dukhan road (Route 39). 

      The link road serves as a critical logistics corridor connecting western settlements, residential districts and industrial installations, including concession areas operated by QatarEnergy.

      The western 7.5km of the alignment passes directly through the QatarEnergy District, where the corridor runs parallel to active oil and gas pipelines and includes a designated gateway monument.

      https://image.digitalinsightresearch.in/uploads/NewsArticle/21041383/main.gif
      Yasir Iqbal
    • Contractors prepare bids for Petro Rabigh bottom-of-the-barrel project

      30 October 2026

       

      Contractors are preparing proposals for Saudi Arabia’s Rabigh Refining & Petrochemical Company (Petro Rabigh) for a major project to increase output and improve the efficiency of its integrated refining and petrochemicals complex in Rabigh, on the kingdom’s Red Sea coast.

      Petro Rabigh’s downstream complex, which is majority-owned by Saudi Aramco, includes a topping refinery with a 340,000-barrel-a-day (b/d) crude-distillation unit, a 47,000 b/d hydrotreater, a 12 million-cubic-feet-a-day hydrogen plant, a 75,000 b/d naphtha Merox unit and a 60,000 b/d kerosene Merox unit. The complex also includes supporting utilities, product tankage and a marine terminal.

      The main objective of the bottom-of-the-barrel project is to convert low-value, high-sulphur fuel oil and heavy-residue streams – which account for about 20% to 22% of refinery output – into higher-value, cleaner products, including diesel and lighter distillates.

      Petro Rabigh aims to achieve residue-conversion capacity of about 64,000 to 75,000 b/d by adding integrated fuel-oil upgrading and diesel-treatment units.

      The company issued the main tender for engineering, procurement and construction (EPC) works earlier this year. Contractors have until 19 November to submit proposals, sources told MEED.

      The following companies are understood to be among those bidding for the project:

      • CTCI Corporation (Taiwan)
      • JGC Corporation (Japan)
      • Larsen & Toubro (India) / Technip Energies (France)
      • Tecnicas Reunidas (Spain)

      The overall scope of work on the project covers the construction of the following units:

      • A light-naphtha isomerisation unit
      • A deasphalting and dewaxing unit
      • An ebullated-bed processing unit
      • A sulphur block, comprising sulphur-recovery, acid-gas-removal, sour-water-stripping and sulphur-forming units
      • Sales-gas allocation facilities and associated pipeline works
      • Utilities outside battery limits
      • Auxiliary piping modifications
      • Utility and hydrocarbon tie-ins

      Petro Rabigh appointed Australia-headquartered Worley last year to carry out front-end engineering and design (feed) work for the bottom-of-the-barrel project.

      MEED also reported that Petro Rabigh appointed Worley to provide engineering and project-management consultancy (PMC) services for the project in the first quarter of this year.

      Under the contract, Worley will carry out engineering studies and PMC functions. It will also support the development of cost estimates, project-specific execution procedures and technical procedures in line with Saudi Aramco guidelines. The work covers both the design-basis scoping-paper stage and the subsequent feed stage.

      Petro Rabigh will draw on Worley’s expertise in design, procurement and processing technologies, including light-naphtha isomerisation; vacuum-residue processing through deasphalting and dewaxing; an ebullated-bed configuration integrated with the diesel-hydrotreating section; and unconverted-oil hydrotreatment.

      Worley recently confirmed its contract award from Petro Rabigh, saying it will deliver engineering, project management, procurement support and related consultancy services for projects across its client’s portfolio.

      The scope includes developing design-basis documents, conducting technical evaluations, preparing cost estimates, supporting feed tender packages and providing detailed engineering and execution-phase support as projects advance through development and delivery.

      The services will support the evaluation and development of potential new facilities and infrastructure across the complex, including process units, utilities, sulphur recovery facilities and associated infrastructure.

      “The work will help Petro Rabigh advance future projects aimed at enhancing the long-term value and performance of its refining and petrochemicals operations,” Worley said in a statement on 28 October.

      Separately, Petro Rabigh awarded US-based KBR a 10-year maintenance contract in February to support its polymer plants in Rabigh.

      KBR’s Technology Led Industrial Solutions business line will execute the operations and maintenance contract, sources told MEED. The business operates within the Houston-headquartered company’s Technology Solutions portfolio.

      In March 2024, Petro Rabigh also awarded KBR a similar five-year asset-condition-monitoring contract. Under that programme, KBR is providing predictive-maintenance services at Petro Rabigh’s main plant.

      https://image.digitalinsightresearch.in/uploads/NewsArticle/21032785/main.jpg
      Indrajit Sen
    • Contractors submit Riyadh Expo KSA pavilion bids

      30 October 2026

       

      Contractors submitted bids on 25 October for a contract to design and build the Saudi Arabia pavilion at the Expo 2030 Riyadh site.

      The facility will include exhibition halls, VIP and protocol areas, event and performance spaces, meeting rooms, food and retail outlets, and back-of-house facilities.

      The pavilion will host exhibitions, cultural and commercial showcases and official events throughout the six-month expo.

      External public realm works are also included.

      Expo 2030 Riyadh Company (ERC), tasked with delivering the Expo 2030 Riyadh venue, issued the main tender on 19 May, as MEED exclusively reported.

      Earlier this week, ERC appointed UK-based Mace as procurement advisory consultant for Expo 2030 Riyadh, supporting procurement activities across the programme.

      Under the appointment, Mace will provide procurement services and advise on the management and delivery of procurement activities, with the aim of supporting the expo’s wider programme objectives.

      Expo 2030 Riyadh will run from October 2030 to March 2031 with the theme Foresight for Tomorrow, with host authorities projecting approximately 42 million visits.

      The masterplan covers 6 square kilometres, making it one of the largest sites ever designated for a World Expo event.

      Situated north of the Saudi capital, the site is located near the future King Salman International airport and will provide direct access to Riyadh landmarks.

      The Public Investment Fund, Saudi Arabia’s sovereign wealth vehicle, launched Expo 2030 Riyadh Company – a wholly owned subsidiary – in June 2025 to build and operate facilities for Expo 2030.

      https://image.digitalinsightresearch.in/uploads/NewsArticle/21031590/main.jpg
      Yasir Iqbal
    • Oman announces $790m industrial investment deals

      30 October 2026

      Oman’s Public Authority for Special Economic Zones and Free Zones has signed 28 investment agreements worth more than RO304m ($790m) for new projects and expansions across the country’s special economic zones, free zones and industrial cities.

      The agreements cover more than 2 million square metres (sq m) of land and span industrial manufacturing, food production, logistics, recycling and commercial activities.

      About $383.6m of the investment has been allocated to industrial cities operated by the Public Establishment for Industrial Estates (Madayn). Sohar Free Zone accounted for $152m, followed by the Special Economic Zone at Duqm (Sezad) with $143.1m, Salalah Free Zone with $85.6m and Khazaen Economic City with more than $27m.

      The projects are expected to support Oman’s efforts to diversify its economy, expand industrial production and attract private investment in line with Oman Vision 2040.

      Investment deals

      In Sohar Industrial City, Atlas Steel will invest more than $291.1m in a plant producing iron and steel products on a site of about 440,000 sq m.

      Fujian Mancheng Industries & Investment will invest $52m in a ceramics facility covering more than 241,000 sq m. Other investments in Madayn’s industrial cities include an $18.2m phosphate and nitrogen fertiliser plant planned by Gulf Company for Organic and Biological Fertilisers in Raysut, as well as projects involving structural metal products, paper and corrugated cardboard, and oil and gas equipment and services in Raysut, Ibri and Nizwa.

      In Sohar Free Zone, Sohar Automotive & Advanced Industries Company will invest $98.8m in an automobile assembly complex covering 317,000 sq m. The complex aims to attract vehicle manufacturers, automotive supply-chain companies and advanced-manufacturing businesses.

      Voltamp High Voltage Transformers has announced a $39m investment in a plant that will produce power and electrical-distribution transformers for regional and international markets.

      Lalan Middle East will invest a further $3.9m to expand its medical-device manufacturing facility.

      ALSO READ: Oman’s Madayn prepares $637m investment drive

      In Sezad, Al-Jazir Feed Plant will invest $104m in a shrimp-feed facility to support an integrated shrimp-farming project.

      In Salalah Free Zone, Al-Nawras Industries will invest $50m in a steel-structures manufacturing facility, while Integrated Gypsum Company will invest $20m in gypsum-products production. Marai Dhofar will invest $15.6m in the production of Italian cheeses and other dairy products.

      Projects in Khazaen Economic City include a plant by Aleemit International Services to manufacture electric-vehicle chargers and components, with an investment of more than $8.8m, and a $6.5m facility by Joger Modular Building Technologies to produce precast-concrete building components.

      Additional investments in Khazaen include construction materials, ready-mix concrete, industrial units, logistics facilities and warehouses.

      https://image.digitalinsightresearch.in/uploads/NewsArticle/21016368/main.jpg
      Indrajit Sen
    • Sabic swings back to profit in Q3 with $224m net income

      30 October 2026

      Register for MEED’s 14-day trial access 

      Saudi Basic Industries Corporation (Sabic) returned to profitability in the third quarter of the year, reporting adjusted net income of SR840m ($224m) as revenue and earnings improved from the previous quarter.

      The Saudi chemicals giant had posted an adjusted net loss of $100m in the second quarter.

      Revenue increased 14% on a quarter-on-quarter basis to $7.51bn, while adjusted earnings before interest, taxes, depreciation and amortisation (Ebitda) climbed 40% to $1.27bn. Adjusted Ebitda surged 434% to $578.67m.

      Sabic’s net debt stood at $808m as of 30 September compared with $728m as of 30 June.

      Adjusted earnings per share rose to SR0.28 ($0.07) from a loss of SR0.13 ($0.03).

      The recovery occurred despite persistent margin pressure across the global petrochemicals sector and heightened geopolitical risk in the Middle East.

      Additionally, Sabic said it achieved $949.33m of its broader portfolio optimisation programme target of $3bn by 2030 in positive recurring Ebitda impact from its transformation efforts.

      During the third quarter, Sabic received its Local Content Certificate for 2025 from the Local Content and Government Procurement Authority, recording a score exceeding 61% – an increase of more than nine percentage points over the prior evaluation period. The company attributed the increase to domestic procurement agreements, including a memorandum of understanding with Lenovo.

      Capital projects

      After several years of subdued project spending, Sabic is beginning to step up investment in new production capacity, with major projects reaching key milestones this year.

      In February, affiliate Petrokemya awarded China National Chemical Engineering Group Corporation the main engineering, procurement and construction (EPC) contract for a new ethylene oxide catalyst production facility. The 4,000-tonne-a-year (t/y) unit at Jubail Industrial City includes catalyst carrier washing, drying facilities and associated utilities.

      Major ammonia-urea complex

      In September, Sabic Agri-Nutrients awarded South Korea’s Samsung E&A a $3.465bn EPC contract for its seventh production complex in Jubail Industrial City (San VII).

      The project will have an annual capacity of approximately 1.2 million metric tonnes of conventional ammonia and 2.6 million tonnes of urea, integrated with a post-combustion carbon-capture unit.

      The Ministry of Energy approved feedstock allocation for the project in March. San VII will expand the company’s total urea capacity by 54%, from approximately 4.8 million t/y to 7.4 million t/y.

      The development reflects a shift in project scope. Originally conceived as San VI – a low-carbon facility designed to yield 1.2 million t/y of blue ammonia alongside specialised nutrients – the scheme was re-engineered as a conventional ammonia and urea plant using carbon-capture systems to manage emissions intensity.

      Construction is scheduled to begin in the fourth quarter of 2026. Commissioning is slated for the third quarter of 2030, with full commercial operation targeted before year-end 2030.

      Sabic Agri-Nutrients positions the project as central to its 2040 strategy to expand export market share and support international supply chains.

      Greenfield methanol plant

      San VII is not the only major project moving forward.

      Also in September, Sabic subsidiary Saudi Methanol Company (Ar-Razi) secured feedstock approval from the Ministry of Energy to build a 1.8 million t/y greenfield methanol plant in Jubail.

      The project aligns with Sabic’s focus on scale in core petrochemical chains and provides intermediate feedstock for expanding domestic downstream manufacturing.

      https://image.digitalinsightresearch.in/uploads/NewsArticle/21015944/main2510.jpg
      Indrajit Sen