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APRIL 2013 VOLUME 2 ISSUE 4

RESOURCES BOOST YOUR CREDENTIALS WITH AN MBA DEGREE

SPECIAL REPORT MAKE YOUR BUSINESS A GREAT WORKPLACE

MEMBER PROFILE

SAIF ZONE’S UNBEATABLE VALUE PROPOSITION

JOSTLING FOR BUSINESS April 2013, Vo. 2 Issue 4 ISSN 2304-3989

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INSIDE 10 24 32 36 44

APRIL 2013

EVENTS

ABC successfully staged the 2nd Middle East Free Zone event, with speakers from the UAE’s top free zones. The speakers at the Forum estimated the growth rate of the free zones in the Middle East and North Africa at about 20% annually, with the UAE topping the rank in terms of the increase in the number of registered companies in around 30 free zones, covering sectors in finance, media, textiles, technology, health, education, FMCG, among others.

MARKET INTELLIGENCE

We present a round-up of the most significant stories in and around the region, giving you the latest business news that matters; including a special focus on relevant report for the SME sector.

MEMBER PROFILE

This issue puts the spotlight is on the Sharjah Airport International Free Zone. More popularly known the SAIF ZONE, this thriving business hub was set up in 1995 and is the premier business destination situated in the Emirate of Sharjah the ‘industrial powerhouse’ of the UAE. It boasts a modern infrastructure and an emphasis on cost effectiveness. The SAIF ZONE today has over 5500 companies operating out of it from 138 countries, carrying out varied business activities like light to medium manufacturing, trading and providing services such as IT, consultancy, etc.

SPECIAL REPORT

Great Place to Work® Institute Gulf an affiliate of the global research, training and consultancy firm that recognises the best workplaces in over 45 countries worldwide, is now searching for the UAE’s top small and medium companies. Find how you can make it to this elite list.

COUNTRY FOCUS

Jordan is without a doubt one of the most beautiful countries in the world, blessed with the charms of the ancient city of Petra, the fertile Jordan valley and the Red Sea. Although the Hashemite Kingdom of Jordan is a predominantly Muslim country, there are many Jordanians are of different origins, religions and ethnic background. Since the inauguration of King Abdullah II in 1999, his economic reforms have increased foreign investment and given new impetus for change and development. Jordan now enters a new era of growth, and our feature shares some insights as to why Jordan could be your next best bet for investments.

APRIL


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FOREWORD

Boost your business

E

xciting times are ahead for the Arab Business Club.

From the outset, we have envisioned an organisation that will be a strategic resource to boost your businesses by providing a platform for meaningful business exchange and learning as well as significant networking opportunities. We are constantly creating tools and means by which we hope to strengthen not just the club, but each member organisation. The club’s magazine, for instance, is being enhanced to provide more insightful content as well as a wealth of information that you can use to better understand the continuously changing business landscape, and eventually help you make more informed decisions. Beyond this, we hope to generate more exclusive, original content that will help make sense of the many changes that are reshaping the business landscapes of the Arab region and the rest of the world. We have also strengthened our event calendar this year, giving you more opportunities to enhance your network – at both the organizational and professional level. You can look forward to more expert and renowned speakers sharing their insights that you can use to leverage opportunities and address challenges that are hampering your growth. We are now in the thick of preparations for our next event which will happen

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in June – the Arab Business Club 2nd Annual Banking and Finance event, which will gather industry experts and C-level executives who will share their insights on important issues confronting the industry, as well as highlight significant opportunities rising from new investments and a resurgence of the stock market in key markets across the region. Likewise, we are constantly on the lookout for industry events that we can support and partner with. ABC has also been designated as one of the media partners for the Arabian Hotel Investment Conference (AHIC) happening in May at the Madinat Jumeirah. The event gathers the region’s hotel investors, developers, operators and advisors to discuss the continuing opportunities in the tourism sector in the Middle East which remains robust despite ongoing regional challenges brought about by the Arab Spring. We will continue to organise and make more frequent Delegation Visits which serve to deepen our understanding of our members. On several occasions, these visits have also led to new business opportunities for members as they discover potential synergies with other members as well as business relationships. For these and other reasons, I am delighted to report that our member list continues to increase – from both within the region and in key markets abroad - a sure sign indeed of the Club’s invaluable contributions to boosting the business of each member organisation.

Hamdan Mohamed Al Murshidi President and Publisher @HamdanMurshidi


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EDITORIAL

Change is good In this issue, you will notice a few subtle changes to the magazine which we hope will make it a better business resource for you. And though things are changing, for the better, for ABC magazine, what remains the same is our commitment to give you the information and tools you need to become better entrepreneurs and business leaders. Our feature on organizational development should be a good starting point – as it outlines how critical change is in any organisation, enabling it to better adapt to shifting business conditions both internally and externally. Here you will also find out a piece on how you can put your organisation into the list of the best businesses to work for in the region. The launch of the Top Small & Medium Companies List by the Great Place to Work® Institute Gulf follows increasing demand from firms with less than 50 employees to participate in the Institute’s workplace assessment – an initiative that will hopefully contribute to the development of the SME sector, identified as a top priority by the UAE’s leadership. The Country Focus is on Jordan, whose macro-economic fundamentals are sound and is primed for further growth in the next five years. We continue our listing on investment opportunities as well as business contacts in the hope that you will find these references as invaluable tools in helping you grow your business. Know more about the members of the Arab Business Club through our Member Profile page, which features the Sharjah Airport International Free Zone, a commercial and industrial hub that offers excellent sea, land and air transport links with access to over two billion consumers across the GCC, the CIS, Asian subcontinent, parts of Africa, the Mediterranean and Europe. We will be introducing new features and exclusive materials as part of our efforts to strengthen the magazine and enhance its value as a business resource for you. With all these positive changes, we can only reiterate the publisher’s note that exciting times are indeed in store for the magazine. Enjoy,

Anthon Garcia Managing Editor

President & Publisher Hamdan Mohamed Al Murshidi hamdan@arabbusinessclub.org Managing Editor Anthon Garcia editor@arabbusinessclub.org Editorial Assistant Eman Ahamed editor@arabbusinessclub.org Contributors Dr. Gilles Feiler Nazar Younis, PhD Art Director Arab Business Club Design Department design@arabbusinessclub.org Sales & Marketing business@arabbusinessclub.org Sales & Marketing business@arabbusinessclub.org Subscriptions Annabelle Crisostomo sub@arabbusinessclub.org

Subscriptions Prices

GCC US $30 REST OF THE WORLD US $60 eMAGAZINE US $12

Published By

Arab Business Club Delaware, USA

Distributed by:

Northern Star Publishing & Distribution Office No. 111, Pyramid Centre Oud Metha, P.O. Box 2188 Tel: +971 4 3583000 Fax: +971 4 3583003 www.arabbusinessclub.org @Arab_Business www.facebook.com/Arabbusinessclub

Disclaimer

All rights reserved. The opinions and views expressed in this publication are not necessarily those of Arab Business Club. Readers are requested to seek specialist advice before acting on information contained in this publication, which is provided for general use and may not be appropriate for the readers’ particular circumstances. While every effort is taken to ensure accuracy of the information contained in this publication, the publisher is not liable for any errors and / or omissions contained in this publication.

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EVENTS

ABC 2nd Annual Middle East Free Zone Event

T

he 2nd Annual Middle East Free Zone Event, organized by the Arab Business Club, the region’s premier business networking platform for businessmen, investors and decision makers, and held under the patronage of His Highness Sheikh Juma Bin Maktoum Bin Juma Al Maktoum, the Honorary Chairman of Arab Business Club, concluded in Dubai, UAE, with calls for further development of the free zones to attract companies who adopt sustainable developments and green initiatives. The event was attended by key CEOs and director generals of the region’s top free zones, with keynote speakers including, Dr. Rashid Alleem, Director General of Sharjah Ports and Customs and the Hamriyah Free Zone Authority; Dr. Ayoub Kazim, Director General of both Dubai Knowledge Village (DKV) and Dubai International Academic City (DIAC), both of which are members of the Education Cluster of TECOM Investments, a member of Dubai Holding; Mr. Oussama El Omari, Principal Advisor to the Chairman of Ras Al Khaimah Free Trade Zone “RAK FTZ” and Mr. Nader Atout, Executive Director of Business Development in Abu Dhabi Media Zone “TwoFour54”. Mr. Hamdan Mohamed Al Murshidi , President and

Mr. Hamdan Mohamed Al Murshidi and H.H. Sheikh Jumah Bin Maktoum Bin Jumah Al Maktoum (Honorary Chairman of Arab Business Club and Chairman of SJM Group of Companies)

10 arabbusinessclub.org APRIL 2013

Mr. Hamdan Mohamed Al Murshidi with ABC’s interns from Russia

(from L) Abbas Al Hajj(CEO of The Hospitality World Fze),Mr. Hamdan Mohamed Al Murshidi (President and Chairman of the Board, Arab Business Club), Dr. Rashid Obaid Alleem, (Director General of Sharjah Department of Seaports and Customs and Sharjah Free Zones Authorities (Hamriyah Free Zone Authority , Sharjah Airport International Free Zone Authority )) and Dr. Mohammad Tariq, (Chairman of Developer Bldg. Cont. Llc and Managing Director of Axis Auditing and Accounting) ,

Mr. Abbas Al Hajj and Mr. Arwin Sharma (President & CEO of ASEAN Fashion Week,Indian Ocean Fashion Week and World Indigenous Fashion Week)


Mr. Akavut T. Kusonwong (Chairman-Thai Business Council),Ms. Nila Pendarovski(Managing Director-Mondo Hospitality)Mr. Hassan Khan (Group CEOMondo Hospitality) and Mr. Deepak Singhal (Director of Sales-Mondo Hospitality)

Mr. Hamdan Mohamed Al Murshidi addresses event delegates and participants

Mr. Abdulaziz Mansoor Al Subaie (CEO,Warehousing Projects and Logistics Co.)Mr. Charles S. Heath (Strategic Advisor, Warehousing Projects and Logistics Co.) and Mr. Hamad Saleh Easa Al Gurg of Easa Saleh Al Gurg Group

(from L) Mr. Ki Heon (Joshua)Roh,President for Development & Management of World Fashion Organization) Mr. Hamdan, Mr. Paco De Jaimes(Chairman/CEO of World Fashion Week) and Mr. David H. Lee,Ph.D. (Chairman & CEO of World Fashion Organization)

H.E. Nada Yousef Al Hashimi (Board of Director,Arab Business Club and Director of Investment Dept. - Ministry of Economy, U.A.E.) and Ms. Nadia I. Nour of Newtech Consulting Group

Chairman of the Board, Arab Business Club, said: “The 2nd Middle East Free Zone Forum served as an ideal platform to boost strategic partnerships and mutual relations among the region’s key players and business leaders, through providing interactive opportunities that reflect positively on free zones’ investments in the UAE and the region.” He added, “The wide participation of key director generals in the event will help in building an effective communication channels with CEOs and decision makers of the world’s top corporations, to better discuss means of developing this growing sector and to better attract companies who evolve to serve their target audiences in a sustainable manner.” The speakers at the Forum estimated the growth rate of the free zones in the Middle East and North Africa at about 20% annually, with the UAE topping the rank in terms of the increase in the number of registered companies in around 30 free zones, covering sectors in finance, media, textiles, technology, health, education, FMCG, among others.

Mr. Adel Saeed Jawas (General Manager-MYCO Shipping & Clearing)Mr. Hamdan Mohamed Al Murshidi , Mr. Ali A. Yateem (Vice Chairman-Yateem Group) and Mr. Elias G. Shomali (Board Member - Yateem Group)

The Forum concluded with a call to action to further develop the free zones to serve as key investors’ attraction arabbusinessclub.org APRIL 2013

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EVENTS

Mr. Oussama El Omari says compliance is key during his presentation

Nader Atout shares the success story of twofour54

Mr. Sami Carouba (General Manager,Gulf,Levant & East Africa-SC Johnson Company Ltd.(Dubai Branch) and Mr. Joey Elaty (CEO of Queen’s Fuel)

Dr. Rashid Alleem and Mr. Oussama El Omari engage in a healthy discussion of the presentations

It was a busy networking night for the hosts and guests of the 2nd Middle East Free Zone Forum

Mr. Hamdan Mohamed Al Murshidi, H.H. Sheikh Jumah Bin Maktoum Bin Jumah Al Maktoum and Ms. Samira Mohamed Shaloh

12 arabbusinessclub.org APRIL 2013

Mr. Hamdan Mohamed Al Murshidi, Mrs. Hind Nezzaghy, Arab Business Club Premium member (won the Pearl Earrings) and Ms. Joanna Harrop

Mr. Mohamed El-Tigani (CEO of Maximum Protection), Dr. Rashid Obaid Alleem, Mr. Fahid Bin Abdullah Al-Shakra (Vice Chairman of Al Hanoo Holding Co.) and Dr. Omar A. Mashabi (General Manager of Al Hanoo Holding Co.)


Mr. Ibrahim Moosa Jamel, Director of Operations, TECOM talks about the success of Dubai Knowledge Village and Dubai International Academic City

Dr Rashid Alleem says freezones must be sustainable

Mr. Hamdan Mohamed Al Murshidi and Ms. Joanna Harrop M.A.,M.Ed.,DPSI (Law) of Harrop Translations

H.E. Abdul Aziz Al Harthi (Board of Director-Arab Business Club and CEO of East Oman Development Establishment) and Mr. Mahmood Mohd. Amin (Chief Executive Officer-Dubai World Security)

Mr. Hamdan Mohamed Al Murshidi and Mr. Serdar Kumbaraci, Commercial Attache of Consulate General of the Republic of Turkey in Dubai

H.E. Abdul Aziz Al Harthi (Board of Director-Arab Business Club and CEO of East Oman Development Establishment) and Mr. Hamdan Mohamed Al Murshidi

Mr. Shyh Perng Chang(Director of Taiwan Trade Centre, Dubai)Mr. Hamdan, H.E. Jean Paul Tarud (Ambassador of the Embassy of the Republic of Chile) and Mr. Samer M. Renno (Chief Executive Officer, Renno Communications Group)

Mr. Hamdan Mohamed Al Murshidi, H.H. Sheikh Jumah Bin Maktoum Bin Jumah Al Maktoum and Mr. Ibrahim Moosa Jamel (Director of Operations, Education Cluster of Dubai Knowledge Village and Dubai International Academic City)

arabbusinessclub.org APRIL 2013

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EVENTS

H.H. Sheikh Jumah Bin Maktoum Bin Jumah Al Maktoum and Dr. Rashid Obaid Alleem

Ms. Samira Mohamed Shaloh addresses delegates of the 2nd Middle East Free Zone Forum

Mr. Hamdan Mohamed Al Murshidi, H.H. Sheikh Jumah Bin Maktoum Bin Jumah Al Maktoum and Mr. Oussama El Omari

The 2nd Middle East Free Zone Forum provides an excellent opportunity for networking

through initiating additional incentives and infrastructure development.

Mr. Hamdan Mohamed Al Murshidi, H.H. Sheikh Jumah Bin Maktoum Bin Jumah Al Maktoum, and Mr. Nader Atout, (Executive Director, Business Development of twofour54)

14 arabbusinessclub.org APRIL 2013

Four years after its establishment as a global network with offices in both New York and Dubai, Arab Business Club now includes more than 8500 members of from 27 countries and functions as a platform that brings together elite businessmen, investors and decision makers from the region and from the world, with the aim of serving as a catalyst for investment opportunities.


H.E. Thosaporn Moonlasartsathorn, Consul General of Consulate of The Kingdom of Thailand and H.E. Fabio Chinda, Deputy Consul General of Consulate of The Kingdom of Thailand with Mr. Hamdan Mohamed Almurshidi

Mr. Hamdan Mohamed Al Murshidi (L) Mr. Raed Abdalla Bukhatir and Mr. Humaid Al Khatri from Sharjah Airport International Free Zone Authority

Mr. Elias G. Shomali (Board Member Yateem Group) and Mr. Ali A. Yateem (Vice Chairman - Yateem Group)

H.E. K.Alex Woodley, Consul General of the Consulate General of St. Kitts and Nevis in Dubai and H.E. Azmi Chang, Director General of the Commercial Office of the Republic of China (Taiwan) to Dubai

Mr. Hamdan Mohamed Al Murshidi shares a light moment with guests

Mr. Nadir Ali Zafar, President-Singapore Business Council, Dubai, Mr. Hamdan, Ms. Joanna Harrop M.A.,M.Ed.,DPSI (Law) of Harrop Translations and Małgorzata Panek-Kasińska, Diplomatic Head of Finance and Administration - Ministry of Foreign Affairs Poland, Embassy of Poland-UAE

arabbusinessclub.org APRIL 2013

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EVENTS

2nd Middle East Free Zone Forum guests listen intently to one of the speaker presentations

Guests discussing the finer points of the presentations at the 2nd Middle East Free Zone Forum

Mr. Hamdan Mohamed Al Murshidi speaks to the media about ABC and the Forum

Mr. Hamdan Mohamed Al Murshidi answers a query from the media

Speakers and guests enjoy a light moment at the event

16 arabbusinessclub.org APRIL 2013


Ms. Rabeha Al Nabolsi with husband Mr. Samir I. Abdul Hadi of Samtech Middle East Mr. Hamdan Mohamed Al Murshidi speaks to H.E. Jean Paul Tarud (Ambassador of the Embassy of the Republic of Chile)

Mr. Hamdan Mohamed Al Murshidi and H.H. Sheikh Jumah Bin Maktoum Bin Jumah Al Maktoum

Ms.Natalia Remmer, Executive Director of Russian Emirates Publishing with her team

Dr. Rashid Alleem, Mr. Oussama El Omari, Mr. Hamdan Mohamed Al Morshedi, H.H. Sheikh Jumah Bin Maktoum Bin Jumah Al Maktoum, Mr. Abbas Al Hajj, H.E. Adul Aziz Al Harthi and Mr. Mahmood Mohd. Amin (Chief Executive Officer-Dubai World Security)

arabbusinessclub.org APRIL 2013

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EVENT FEATURE

Event Focus:

Sustainability and Compliance

T

he he 2nd Annual Middle East Free Zone event hosted by the Arab Business Club highlighted some of the key issues and opportunities confronting freezones in general, and those in the UAE in particular. According to Nader Atout, Executive Director, Business Development of twofour54, most developing countries in this era of globalisation are witnessing a shift away from an import substitution based development strategy to one based on export promotion through the establishment and development of special economic zones (SEZ). Atout says that in addition to promoting exports and earning foreign exchange, SEZs are seen as a key instrument for stimulating economic growth through additional investments, technology and knowledge transfers; as well as employment generation. Meanwhile. Oussama El Omari,

18 arabbusinessclub.org APRIL 2013

Principal Advisor to the Chairman of RAK Free Trade Zone, highlighted the importance of nurturing a culture of compliance in the UAE’s freezones. For El OMari, non compliance could result in embarrassment for the freezones’ host governments as well as loss of autonomy, since governments will now have to impose a certain level of scrutiny and oversight to ensure compliance. The more critical negative impact of non-compliance include financial consequences resulting from loss of market – not to mention a loss of quality image – as well as the imposition of fines and revocation of facilities, among others. El Omari encourages freezone authorities to understand the problem of their inability to comply with international standards. “While free zones are not financial institutions, they are Designated Non-Financial Businesses (DNFBP), which have compliance requirements,” he added.

Fourth wave Dr. Rashid Alleem, Director General Sharjah Department of Seaports and Customs and Sharjah Free Zones Authority, asserts that sustainability is the fourth wave of economic development. He sees the development of economies through the ages as passing from the Agriculture Age, where the most important capital is land; through to the Industrial Age, where the most important capital are machines and factories; and then the Information Age, which is shaped largely by information. For Dr. Alleem, sustainable development is about achieving economic, social and environmental objectives at the same time. In this fourth wave, the triple bottomlines revolve around people, profit and the planet. Sharing the experience of the Hamriyah Freezone (HFZ) in Sharjah, fostering sustainability led to the development of the Hamriyah Green Team that was set up to create awareness, develop consciousness & practice of Green Environment within the HFZ. The HFZ Authority also developed the SHE-Q club, which holds regular, free-to-attend meetings for executives to network and discuss new safety, health, environment and quality initiatives.


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GCC markets

Gulf region posts steady growth amid ongoing global crisis

Despite regional turmoil, 2012 was a good year for the economies of the Gulf Cooperation Council (GCC) member states as well as Libya. Bank of Georgia’s Dr. Gilles Feiler reviews the positive indicators of the key markets, with a particular focus on the growth prospects of the UAE, as well as investment opportunities in selected stocks.

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I

t was indeed a solid year of growth for GCC’s leading economies in 2012 with Kuwait surging ahead of the pack by registering a 6.39% growth rate, followed by Qatar with 6.3% then Saudi with 6%. The UAE achieved a modest growth of just over 4%; and despite its ongoing domestic uncertainties, Libya doubled its Gross National Product (GNP) last year. Also last year, government in four GCC economies registered higher revenues, this time led by Saudi with $356 billion, followed by the UAE with $131 billion. Meanwhile, Kuwait brought in $120 billion, and Qatar posted USD 73 billion. UAE economy poised to grow Within regional markets, the economy of the UAE is expected to exceed AED 1.4 trillion (USD 380 billion) this year, exceeding one-fifth of the combined GDP of the entire GCC region, according to the Federation of GCC Chambers of Commerce and Industry.

improvement in economic freedom. The UAE has risen in the ranks for five consecutive years, achieving 28th place internationally. In comparison, Qatar came in 27th place and Bahrain in 12th. One area in which the UAE sees a major opportunity for growth is in Islamic finance. Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum recently announced a series of initiatives intended to turn the emirate into an international hub of this USD 2.3 trillion sector. Perhaps what is most remarkable about the UAE is its ability to find economic opportunity in the Arab Spring, which has caused so much suffering in other countries. Unlike other states in the region, the UAE benefited from the Arab Spring as it was considered a secure place for investments as well as for tourists visiting the Middle East. In addition, the UAE’s financial and economic foundations are strong,

Investors interested in the Middle East should focus on the UAE and Qatar due to the high returns and good economic policies of those countries. Investors should buy stock in companies that are likely to increase their dividends, have high liquidity relative to the region, and have at least one billion dollars in market capitalization

The country has successfully diversified away from its oil-producing origins, becoming one of the most economically free countries in the Middle East. One major contributing factor is Dubai’s efforts to become an international hub of the Islamic economy. Another is that the UAE was able to use the Arab Spring to its advantage. The UAE’s economy is expected to grow 12% in real terms in 2013, and 5.2% annually on average through 2015. Economic freedom has played a major role in the development of the UAE. The 2013 Index of Economic Freedom, published by the US think tank Heritage Foundation, showed that the UAE was one of the five emerging economies to show notable arabbusinessclub.org APRIL 2013

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GCC markets demonstrated by the responsible policies of the authorities and Dubai’s recovery of Dubai from its debt crisis. Growth this year will be due to the launch of many infrastructure projects, among other factors – a positive sign for medium and long-term investors. Stock opportunities Investors interested in the Middle East should focus on the UAE and Qatar due to the high returns and good economic policies of those countries. Investors should buy stock in companies that are likely to increase their dividends, have high liquidity relative to the region, and have at least one billion dollars in market capitalization. Dubai Financial Market has already increased its market capitalization by about 20% since the start of the year. The positive trend is being helped by the economic policies of Qatar and UAE’s political leaders, especially Sheikh Khalifa bin Zayed Al Nahyan, Ruler of Abu Dhabi, Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, and Sheikh Saud bin Saqr Al Qasimi, Ruler of Ras Al Khaimah. Based on an analysis of 1,200 Arab stocks, it seems the best sector for investors is the financial sector, particularly banks. Among the best are Saudi Arabia’s SAMBA and Bank Saudi Fransi, Commercial Bank of Dubai, Abu Dhabi Commercial Bank, and Emirates Islamic Bank. There are also recommended stocks in two industrial companies based in Egypt: Eastern Tobacco and EgyptKuwait Holding. They offer high dividend yields, which stand at 9.3% and 7.2%, respectively. Another industrial recommendation is Saudi Arabia’s Arabian Cement, with a current dividend yield of 6.6%. 22 arabbusinessclub.org APRIL 2013

Dr. Gilles Feiler is the Director: Middle East and North Africa at the Bank of Georgia, a London-public traded financial institute (LSE:BGEO) that provides wealth management, investment and banking services throughout the world. He is an active matchmaker that connects businesses and wealthy individuals throughout the region with the attractive banking, investment and finance opportunities that the Bank of Georgia offers. Dr. Feiler has been a top-level adviser and a member of the board for several European and American firms that have entered into and are active in the Arab World. Gilles is passionate about business and economic development in the Middle East, and has lectured on these topics at international conferences and at closed business forums throughout the world. He has also authored numerous professional articles on these matters.


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market intelligence

Will China’s and India’s Consumer Boom Spark Global Shortages? Chinese and Indian consumers are living well and eating well. And that could spark a global crisis. The consumer boom in China and India will touch off global inflation and could lead to food and water riots if investment, policy, and technology don’t keep pace. Without smart, quick action by the private sector and government alike, surging Chinese and Indian demand for premium foods will lead to commodity volatility,

runaway food prices, and worldwide water shortages as the “boomerang effect” brings the unexpected impact of Asian growth to U.S. shores. That’s the conclusion of research by The Boston Consulting Group (BCG). The main findings are presented in “The Boomerang Effect,” a Perspective that is being released today, and The $10 Trillion Prize: Capturing the Newly Affluent in China and India (Harvard Business Review Press, October 2012), a recent book by BCG consultants Michael J. Silverstein, Abheek Singhi, Carol Liao, and David C. Michael. The Perspective is part of BCG’s GameChanging Program to help leaders and their companies capitalize on the opportunities created by the seismic shifts

in the global economy. “Chinese and Indian consumers are celebrating their newfound wealth by eating like Americans: they’re shifting their diets from grain to meat,” Silverstein said. “Their wealth is a good thing. It creates new markets and new opportunities. But it can also lead to global traumas: highly inflated food prices across the U.S., as well as dangerous worldwide shortages of key natural resources, especially water.” BCG lists the following initiatives both the private- and public-sectors could undertake to help: • Microirrigation that delivers water directly to plant roots could increase the efficiency of water use by 50 percent. • Innovations in seed technology, including genetically modified organisms, can mean higher food production with no increase in water consumption. • New policies that price water at market rates, could, said Silverstein, “lead to more efficient water use, as it already has in Israel.” “The boomerang effect doesn’t have to end in riots and fewer hamburgers for Americans,” Silverstein said.

Shell Spotlights Oil & Gas Technology Innovation at MEOS Responding to the region’s growing energy demands, oil and gas leader Shell shared its latest global technology advancements at the Middle East Oil and Gas Show and Conference in Bahrain. Under the theme of “transforming the energy future”, the conference presented recommended solutions, commitment and collaboration needed to meet the region’s energy needs effectively. Shell was invited to share its technology advancements to help realise a reliable and efficient energy supply for the region, key to its continued growth and 24 arabbusinessclub.org APRIL 2013

development. “In the Middle East as around the globe, continued innovation and investment will be required in all forms of energy to find viable and sustainable solutions to keep up with demand, recognizing that no single source will be able to carry the load. While oil will remain dominant in the global energy mix for many years to come, countries are also increasingly aware of the need for a diversified local energy mix for sustainability in the long term,” said Mounir Bouaziz, Shell’s Vice President for Commercial and New Business Development in the Middle East and North Africa.


Islamic banking assets with commercial banks in the GCC reached US$445 billion at the end of 2012 According to estimates by Ernst & Young’s Global Islamic Banking Center, Islamic banking assets with commercial banks in the GCC reached US$ 445 billion at the end of 2012, up from US$ 390 billion in 2011, with the outlook for the industry remaining relatively positive in 2013. This represents a 14% year-on-year growth, which is considerably lower than the five year average of 19%. Qatar was the fastest growing market where Islamic banking assets are expected to have grown by more than 23% during 2012. While Islamic banking assets with commercial banks in the GCC grew by 14% in 2012, conventional banking assets grew by only 8.1% - indicating the relative resilience and potential of the industry. Ashar Nazim, Partner, Global Islamic Banking Center, Ernst & Young said: “We expect a relatively positive outlook for the Islamic banking industry in the GCC. Quality of growth remains under pressure and we expect more Islamic banks initiating an honest introspection of their operating model, especially with regards to the weak data management infrastructure.” Global Islamic banking assets with commercial banks are now at US$ 1.55 trillion at end of 2012 and projected to exceed $2 trillion by 2015. Ernst & Young’s Islamic Banking Universe in its estimates represents banks across 22 major Islamic finance market.

$17 billion worth of transport schemes still up for grabs in Qatar

Qatar is pushing ahead with its massive transport infrastructure programmes this year, with $17 billion worth of projects still up for grabs. Qatar’s Public Works Authority (Ashgal) has lined up 30 highway projects in 2013. As of February, a total of $1.88 billion has already been awarded, including the $640 million Package 13 on the Doha Expressway. “Without a doubt, 2013 is a pivotal year for Qatar’s transportation programmes. Never has there been a better time for companies skilled with managing and servicing major infrastructure projects to enter and expand their presence in one of the world’s fastest growing projects markets,” said Edmund O’ Sullivan, Chairman, MEED Events, organisers of the 4th Annual Qatar Transport Conference scheduled on 28-29 May 2013 at the Renaissance Doha City Centre Hotel. Organisers say the conference has been designed to provide a comprehensive guide to Qatar’s multi-billion dollar projects market and detail where the

business and investment opportunities will be in the coming 12-18 months. Delegates attending the conference can expect to gain a comprehensive understanding of where the huge transport infrastructure budget will be invested for the rest of 2013, as well as be able to correctly anticipate the investments and projects activities that will be made until 2018. Other presentations and panel discussions will cover the entire spectrum of transport projects in Qatar, including rail, ports, freight, and airport developments. As a major international event, Qatar Transport 2013 will attract a large and influential international audience, and thus provide attendees unprecedented networking opportunities that are available with high profile government representatives, project owners, general engineering consultants, contractors, financiers & investors, and specialist service providers to the transport industry. For more information, visit www.qatartransportconference.com.

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market intelligence Sustainability among top concerns in GCC projects industry

The GCC projects industry is taking sustainability seriously, making it a key component in developing some of the region’s most notable and recognisable projects. Among these projects include Oman-based Octal, the world’s largest producer of PET resin and sheet on a single site and a global leader in the packaging industry; the UAE’s Siemens Head Office Project owned by the Abu Dhabi Future Energy Company (nominated by Al Fara’a Contracting Group) and The King Saud University (KSU) Girls Campus Project owned by the King Saud University (nominated by Schneider Electric Saudi Arabia) from KSA. These projects were recently shortlisted for the Lafarge Sustainable Project of the Year category of the 2013 MEED Quality Awards for Projects, in association with Ernst & Young, the only GCC-wide awards programme that recognises completed quality projects. OCTAL’s sustainable operations use groundbreaking technology and proprietary production methods to produce PET resin and PET sheet to achieve the lowest carbon footprint in the world. Using the company’s, unique-to-the-world direct-to-sheet process, DPETTM technology, OCTAL has

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eliminated five energy-intensive stages of the conventional sheet production process. With this unique technology, and compared to conventional technologies, OCTAL’s production process consumes 65% less purchased electricity and 28% less thermal energy, resulting in 18% lower global warming potential and a 30% lower cradleto-gate environmental footprint. “Lafarge is delighted to be a part of a programme that recognises sustainable projects which contribute to building better cities throughout the region. I would like to congratulate the finalists for their achievements, ‘building projects to the benefit of the living environments that surround us all’,” commented Ahmad Heshamt, CEO, Lafarge GCC. Thirty of the highest quality projects in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE have already been declared National Winners in the first phase of judging; and are now competing for the regional awards, which will be announced at the annual MEED Quality Awards for Projects, in association with Ernst & Young on 14th May 2013 at the Jumeirah at Etihad Towers in Abu Dhabi. For more information on attending the awards, please visit www.meedawards.com.

Middle East prepaid growth second highest in the world The Middle East region is the second highest growing prepaid market globally according to Francesco Burelli, a key speaker at the Prepaid Summit ME 2013 held in Dubai. “From 2013 to 2017 the circulation of prepaid cards is forecast to steadily increase at 11 per cent compound annual growth rate globally, however MENA markets will outperform, exhibiting a stronger growth of 18 per cent compound annual growth rate. The Middle East is the second fastest growing region at 28% CAGR based on 2010 and 2012 data,” says Burelli, Partner at Value Partners and leads the global cards, payments and transaction banking practice, says the region According to Burelli, this growth will be driven by openloop prepaid cards, with the remittance, youth and unbanked segments providing significant opportunities that can be leveraged by providers. He further says that many types of prepaid cards are available in the market, but the two main categories are “open-loop” and “closed-loop.”


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Emirati businesswoman and philanthropist mentors emerging entrepreneurs in the US better advise these young innovators, and I will be covering quite a few of them in my magazine, because I saw in them the potential to become the next Bill Gates and Steve Jobs of the future just waiting to be discovered. It is essential that their wealth of knowledge and journey through becoming successful entrepreneurs and business leaders be shared with the rest of the world,” said Al Qassemi, who owns a publishing company that produces the monthly lifestyle, cultural and intellectual magazine Velvet, among other business interests.

Noted Emirati philanthropist and businesswoman Hend Al Qassemi was among the global leaders who mentored emerging entrepreneurs of the Kairos Society event held recently at the NYSE in Wall Street. The event gathered movers and shakers from around the world, including renowned venture capitalist Mark Rockefeller, billionaire Naveen Jain and Virgin Atlantic’s Court Coursey, in which 50 of the top young entrepreneurs from all over the world presented their business ideas featuring gizmos, gadgets and services envisioned to solve the world’s greatest challenges. “I attended the NYSE ground floor where every entrepreneur had a booth presenting interesting future gizmos, gadgets and services for the world of tomorrow. I was required to mentor and

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Al Qassemi, wife His Excellency Sheikh Abdullah Saud Al Thani of Qatar, is planning on bringing the global initiative to the Middle East, adding, “I am a strong believer in what they have done and look to bring this initiative to the Middle East soon in the hope that people from the Arab world may be inspired to come up with ideas that will also contribute in helping solve the challenges of the future. We can all learn from these accomplished people, and I think it is a beautiful thing that so many busy powerful people made the time to attend, take part and support however way they could.” A member of the royal family of Sharjah, Al Qassemi was invited by Kairos Society chairman Ankur Jain to attend the event in NYSE, where she was also given the distinction of ringing the bell to signal the opening of trading day, an honour traditionally given to business and civil society leaders, in addition to celebrities and important dignitaries.

The “Power of Small” to Drive Business Innovation in Oman

SAP MENA highlighted the need for SMEs to implement ICT solutions at the recently concluded COMEX Conference 2013 in Oman. “Information technology is a key pillar for SMEs to become a prime engine of economic growth in Oman. The advances in business-oriented solutions for Mobility, Analytics and Cloud, are driving the competitiveness of SMEs by furnishing business leaders and entrepreneurs with the best in class technology innovations needed to gain clear insights of the business dynamics at their finger-tips, any time, any place. We call it the ‘the power of small’,” said Gergi Abboud, Managing Director, SAP Gulf. SMEs are critical to SAP’s long-term growth strategy, which includes doubling its addressable market, reaching 1 billion people and achieving global revenues of €20 billion by 2015. Nearly 80 per cent of SAP’s customers are small businesses and midsize companies. SAP solutions for SMEs include SAP Business One, a single integrated solution for successfully managing small businesses, which gained over 14 customers per working day in 2011 (35,000+ customers to date); and SAP Business All-in-One, a customizable and extensible solution for midsize companies with deep industry best practices built in.


London Chamber of Commerce to lead SME trade mission to Qatar

Games, the mission will focus on promoting their experience in sport, infrastructure and construction. Qatar is hosting the 2022 World Cup and investing billions in infrastructure projects in Qatar and the UK. It was most recently reported to have begun talks with the UK government to invest up to £10 billion in key infrastructure projects including power plants, road and rail projects. Qatar is one of the wealthiest countries in the world with the third largest reserves of natural gas worldwide. The Qatar Investment authority has assets of $115 billion and is ranked twelth among sovereign wealth funds in the world.

Willie Walsh, President of the London Chamber of Commerce and Industry and Chief Executive of International Airlines Group led a trade mission to to strengthen exports and boost business ties for the UK.

According to UKTI figures British exports to Qatar have nearly doubled in recent years and the LCCI believes that more can be done to help London businesses do business there.

Building on the success of the London 2012

Willie Walsh said: “Qatar is one of the world’s fastest growing economies and

offers great potential for British business. Qatar’s successful 2022 World Cup bid has accelerated large-scale infrastructure and construction projects worth more than $60 billion. “We are looking to seize the opportunities this presents for British businesses who delivered the fantastically successful London 2012 Games. “British companies are highly regarded in Qatar and those with international ambitions can use this mission as their first step in obtaining global recognition. Businesses will learn how they can leverage the Games to build their sustainable strategies and boost their long-term competitiveness beyond 2012 internationally.” The mission is the latest in a series of private trade missions run by the LCCI and supported by British Airways and KPMG which are designed to help small and medium enterprises drive exports.

Franchising Key to Regional Job Growth and Middle Class Creation Michael Seid, the founder and managing director of MSA Worldwide, has developed a reputation as a global authority on franchising and business expansion strategy, not only for his recognized advisory acumen, but also for establishing the frameworks and systems that have become industry and academic blueprints for successful franchising.

In response to growing demand from the region, MSA Worldwide, one of the world’s leading franchising consultancies, today announced that it is establishing a Middle East office to better serve its customers.

“We are witnessing a large number of Middle East businesses who are choosing the franchising model as their regional and international growth strategy. Through our office in the UAE, we will be closer to them, supporting them on their home base. We already have a great team in place and I am confident that this will also encourage other Middle East companies who have not yet chosen the franchise route to consider this lucrative growth platform,” Seid added.

On the potential of franchising, Seid, a best-selling book author and publisher of numerous journal articles, commented: “The power of franchising to create jobs, financial opportunities and a sustainable economy has been proven in the US and in many countries around the world. The Middle East is a region of tremendous human wealth that can be converted into economic wealth through tried and tested solutions such as franchising, which in turn address the entrepreneurial needs of its citizens.” MSA Worldwide has provided advisory services to many well-known brands including McDonald’s, Wendy’s, ExxonMobil, BP, EBay, Intel, Cold Stone Creamery, TCBY, Arby’s, Marriott, Ace Hardware, Disney Store, Bijoux Terner and Miss Universe Organization.

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market intelligence Gulf Capital SMEinfo Awards launches search for UAE’s top entrepreneurs and business leaders Year, Emirati Business of the Year, Online Business of the Year, and RSA Start-Up Business of the Year.

The UAE’s most successful entrepreneurs and business leaders will be honoured once again this year as the Gulf Capital SMEinfo Awards announces the launch of the second edition of the annual SME business recognition programme. The Gulf Capital SMEinfo Awards will recognise excellence in 11 categories, including Gulf Capital Business of the Year, MasterCard Small Business of the

Meanwhile, individual business owners and exceptional leaders will also be honoured in two categories – Entrepreneur of the Year and Business Leader of the Year. The rest will honour remarkable achievement in the following categories – Sustainable Initiative of the Year, Customer Focus of the Year, Business Innovation of the Year and People & Culture of the Year. Dr. Karim El Solh, Chief Executive Officer, Gulf Capital, said: “Gulf Capital is proud to be sponsoring this worthy event. SMEs in the Middle East generate more than a third of GDP and provide more than 45% of all employment. Given that SMEs

are an important engine of growth in the region, we felt it was very important to back this award and to celebrate the entrepreneurs behind these SMEs. Not only does the awards programme help inspire existing and future would be entrepreneurs, it also helps set benchmarks of excellence that other SMEs should aspire to. It also challenges entrepreneurs and business leaders to continuously innovate and excel in every aspect of their business to succeed and grow,” he concluded. The Gulf Capital SMEinfo Awards is now accepting entries until the deadline on 13 June 2013. Entrants must hold a valid trade license in the UAE, have been trading for two years (except for the RSA Start-up Business of the Year), have a turnover of AED 250 million or less and fewer than 250 employees. Entries will not be accepted from branches of international subsidiaries. For more information, please visit www.smeinfoawards.com.

SME business owners motivated to grow their business

Alchemy Network Middle East has identified the need for SMEs to review their systems and current processes in order to build a foundation on which to grow and move forward. The Business Growth Audit (BGA) will help companies plan for growth by providing the business owner with an in-depth analysis of their business, and rewarding them with an insight into untapped sources of business and income.

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The BGA, which is part of the Alchemy Nova Business Growth System, is now being offered as a stand-alone fact-find product from which to view the integral operations of the business, act as a health check tool to assess the potential of the business, and uncover unseen revenue opportunities. This service is proving to be a winning solution for small and medium size company owners in the 15 countries that the Alchemy Network operates in today that prepares business owners either for the next level of strategic development, or reveals key areas for improvement. The BGA presents an opportunity to have someone independently review your operations objectively and offer an informative perspective and vision for future growth. It is at this point, that business owners become motivated to change and have the benefit of having

someone on board to offer reassurance in their plans. “In our experience, even the concept of making small adjustments with regards to a company’s relationship with its clients can reveal new opportunities. Our economic climate is providing the spur for change and the way they interact with their customers to meet their demands, which in turn converts to growth. This is what we want SMEs in the Region to look at and take the time to review.” says Simon Hodges, CEO Alchemy Network Middle East. The Action Plan will identify the company’s ideal target market, establish where the business is currently positioned in the marketplace, and highlight the company’s ultimate potential for future development. This process represents the start of a company’s plan for future growth and development.


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member profile

Sharjah Airport International Free Zone Authority:

Welcome to the freedom of doing business your way. Sharjah Airport International Free Zone, well known as the SAIF ZONE, was set up in 1995 and is the premier business destination situated in the Emirate of Sharjah, the ‘industrial powerhouse’ of the UAE. It boasts modern infrastructure and facilities and offers unrivalled cost effectiveness and value-added services. 32 arabbusinessclub.org APRIL 2013


The free zone’s “one window” concept provides all administrative services under one roof. Equipped with the state of the art facilities, the SAIF ZONE offers unbeatable trade incentives and unparalleled benefits to its investors making it the “free zone of choice”.

T

he SAIF ZONE today has over 5500 companies from 138 countries, carrying out varied business activities – from light to medium manufacturing and trading as well as providing services such as IT, consultancy, among others. Why SAIF ZONE? The answer lies in the array of benefits, incentives and world-class infrastructure SAIF ZONE has to offer to businesses. The SAIF ZONE offers modern premises with state of the art facilities, including airconditioned and fully-furnished offices, SAIF Plus facility, pre-built warehouses in four different sizes that come with office space (sizes available in - 1,345 Sqft/ 2,690 Sqft/ 4,304 Sqft/ 6,456 Sqft), temporary storage space, land for unrestricted development, labour accommodation. Other facilities include banks, exchange houses, travel agencies, car rental services, supermarkets, and restaurants. A competitive fee structure, inexpensive energy costs, and sponsorship and visas for expatriate staff are just some of the advantages offered by SAIF ZONE. Free from bureaucratic red tape, the registration process enables licenses to be issued within 24 hours. The other benefits our investors enjoy are 100% foreign ownership, 100% repatriation of capital and profits, 100% exemption from income and corporate taxes, on site labour accommodation.

Unique advantages Sharjah and its business community benefit by being the only Emirate in the UAE with seaports on both the Arabian Gulf (Port Khalid) and the Indian Ocean (Port Khor Fakkan). Combined with the facilities at Sharjah International Airport, this location provides the SAIF ZONE a unique logistical advantage via superb

land, sea and air links. Encouraged by our growing success over the years, the SAIF ZONE is now embarking on its next phase of expansion to meet the growing demand of its investors wanting to set up operations at the Zone. It is in this context that we today are visiting various countries to offer our services and the opportunity to investors to set-up their businesses at the SAIF ZONE, Sharjah. With the assurance of a warm welcome and an opportunity to globalize your business, the SAIF ZONE is at your service.

SAIF ZONE – Progress through the years From a mere 55 companies in 1995 (when it became fully operational), SAIF-Zone is now home to more than 5500 companies. Covering a wide crosssection, they include some of the biggest names in the fields of manufacturing, trading, IT services, media, consumer durables and a host of others.

SAIF-Zone attracts more than 451 companies engaged in industrial activities. Companies engaged in different types of services number 1,359, while the largest number are engaged in trade. INDUSTRIAL LICENSE

NO. OF COMPANIES 55 220 256 324 382 478 651 907 1181 1540 2050 2758 3017 4160 4235 5123 5400 5500

451

SERVICES LICENSE

1,359

TRADE LICENSE

3,043

AVIATION

YEAR. 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

292

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member profile Profile: Dr. Rashid Alleem

sustainability by aligning commercial, social and environmental objectives. Rashid Alleem has authored many acclaimed books and articles in journals and magazines in both Arabic and English, including his recent book ‘My Leadership Secrets’. Much sought after in the speaker’s circuit, he frequently addresses a diverse range of audience in the development of human capital and socially responsible business empowerment initiatives. Testament to this is the Alleem Knowledge Center an organization he founded to promote leadership potential. He is acknowledged by the industry as a ‘Change Leader’, thanks to his leadership experience gained over two decades in the international business arena. With a PhD from University of Salford, Manchester in UK and multiple honorary doctorates from Somalia University for Humanitarian Services and American Global International University in the US for his global business contributions and numerous academic accreditations, Alleem is an embodiment of a lifelong learner and harnessing intellectual capital.

D

r. Rashid Alleem is widely considered a visionary and thought leader in business, socio-economic, academic and cultural endeavours. Respected by peers as a strategic thinker, Alleem dons many hats and hones various passions. As the Director General of Sharjah Department of Seaports and Customs and Sharjah Free Zones Authorities (Hamriyah Free Zone Authority , Sharjah Airport International Free Zone Authority ), he is the driving force in transforming them into a strategic commerce hub and empowering thousands of businesses in the region, contributing to the development of the 34 arabbusinessclub.org APRIL 2013

UAE economy. His indelible leadership has helped propagate business excellence to other fronts as well. As the board member of World Association of Small and Medium Enterprises, Sharjah Charity International, Sharjah Medical Zone, American Business Council of Dubai and the Northern Emirates, German Emarati Joint Council for Industry and Commerce and World Trade Development Council in Hong Kong, besides being an honorary lecturer in numerous local and international universities, including the American University of Sharjah, he believes true excellence can only be achieved through

Testament to his efforts are the various accolades he has received, including Achievement Award by League of Arab States, Gold Medal from the Mayor of Cannes for environmental efforts, Excellence in Leadership award from ASSOCHAM in India and Celebrity of the Year by Khaleej Times. He’s been endorsed as a Maritime Personality for 2009 by Marine Biz TV and acclaimed as Middle East Business Leaders Awards 2012 as a tribute to his acumen in Training & Human Capital Development. Recently, he is conferred the Jewels of Muslim World Award 2012 in Jakarta in recognition of his achievements as one of the top nine movers of the Islamic economics and bestowed the honour of Environmentalist of the year 2012 in Malaysia in recognition of his contributions towards sustainable environment. He is known among his peers as Green Ambassador of the UAE.


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SPECIAL REPORT

Is your SME among the

best places

to work for? an affiliate of the global research, training and consultancy firm that recognizes the best workplaces in over 45 countries worldwide, is now searching for the UAE’s top small and medium companies.

36 arabbusinessclub.org APRIL 2013


managers, employees and their jobs, and between employees and other employees. David Robert, CEO of Great Place to Work Gulf, says: “The SME sector really is the backbone of any economy and an important driver of entrepreneurship and innovation. We commend the efforts of the UAE Government to advance and grow this important sector and hope our SME workplace benchmarking study, with its focus on high-trust working environments, will help to develop HR practices among the country’s SMEs.”

O

ne of the biggest challenges facing SMEs is the recruitment of top-class talent to become a part of its workforce. It is critical for a growing business to be able to have the right people in the right positions. It is important for small and mediumsized businesses to make a good enough impression among job seekers to make them an employer of choice. And once they’ve attracted the right people to help them grow, they need to give them a few more good reasons to stay. So, is your SMEamong the best places to work for in the UAE? Great Place to Work® Institute Gulf (GPTW) recently launched an initiative that will rank thebest SMEs in the UAE in terms of

credibility, respect, fairness, pride and camaraderie within their organizations. The launch of the Top Small & Medium Companies List follows increasing demand from firms with less than 50 employees to participate in the Institute’s workplace assessment. GPTW says the SME list will also contribute to the development of the sector, identified as a top priority by the UAE’s leadership. The annual SME ranking will list the country’s best employers based on the confidential feedback of their staff and an independent culture audit of their HR practices by the Institute. Combining more than 25 years of proprietary research, the benchmarking study assesses the level of trust between three key relationships within the workplace - employees and their

Widely acknowledged as the preeminent corporate award for workplace practices, the “Top Companies to Work For” research program and its various sublists are recognised by leaders in a variety of industries, including government and education institutions, as a chief means to improve their workplace environment, public image and financial performance. Best Companies in the U.S. have consistently outperformed the S&P 500 by a wide margin since the first list was announced in 1998. They also experience at least 50 percent less voluntary staff turnover compared to the industry average and enjoy higher levels of customer satisfaction.

Registrations for the 2013 Top SMEs list will remain open until 30th June with the winners to be announced in Q4 of this year. Any UAE-based company that is two years or older with 20 to 99 employees is eligible to participate in the fee-based program. To apply for the UAE’s Top Small & Medium Companies List, please visit www.greatplacetowork.ae.

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SPECIAL REPORT Five ways SMEs can attract top talent SMEinfo - a digital community for SMEs aimed at helping create an enabling environment for aspiring start-ups and small and medium sized businesses to thrive – published a simple guide from Bayt.com on how to attracting strong professionals to your organisations. A talented workforce equals a strong organisation. It’s a simple enough equation and applies to companies of all sizes. For SMEs though, this equation has to be followed through completely. While big corporations can afford to relocate employees to a different department in case of a talent-job mismatch, for smaller companies and start-ups, good hiring decisions can make all the difference between hitting and not hitting deadlines. It is said that “you are only as strong as your weakest link”, so how can SMEs with limited hiring resources attract the best and most talented professionals? By managing their employer brand, as this shapes the perception of a potential employee. To be imprinted in the minds of the jobseeker as an employer of choice, you need to connect with them at an emotional level. Regardless of the company’s size, it’s important for employers to take a holistic approach to branding throughout all activities related to the hiring process. The hiring experts at job website Bayt.com recommend five ways to achieve this: 1. Manage your job postings with diligence Your job posting is an advertisement with the dual purpose of not only attracting good candidates but also branding your company. The best way to go about this is to 38 arabbusinessclub.org APRIL 2013

‘sell’ the benefits of working with a start-up company. Most Gen-Y employees value transparency in an organisation and would be attracted to SMEs as they are relatively less bureaucratic and hierarchical. Make sure you convey your brand values; what does your company stand for, why are you doing something exciting and why they would want to work for you. As far as the job postings are concerned, compose a thoughtful job description (for inspiration you can take a look at some free job posting templates, but avoid copy-pasting). To achieve the perfect talent-job match, it is necessary that the employee also matches your company culture – for this, you can briefly describe your work culture, and make sure you also mention the people skills that would best match your organisation. 2. Pay attention to your company’s website No matter how small your organisation is, by investing time and effort you can project a professional brand image through a well-designed and detailed corporate website. Just like a jobseeker is judged by physical appearance during the initial 30 seconds of the interview, a savvy jobseeker will form an opinion about your company from your corporate website. This is not simply a matter of using the right graphics, colours, images and fonts. You need to articulate your vision, mission, values and culture online. You can also enrich the content with team videos, pictures and bios of the management team and employees. This will add a human touch to the website and make it look less like a faceless corporation. If your company is passionate about certain social causes, do mention that on the CSR page. 3. Be considerate when managing job applications

A job vacancy ad on an average receives hundreds of job applications. It is tough screening and qualifying candidates from the bulk of applications received, but keeping the candidates updated by email on the stage of their application can go a long way in winning their respect and projecting yourself as a conscientious employer. There is nothing more frustrating to a candidate than not being acknowledged by a company after putting the time and effort to research it, apply, and trust it enough to want to join. Your employer brand is calling you to take action: a simple “thank you” email will not only ease the candidate’s doubt, but also showcase you as the professional and dedicated HR professional. 4. Treat job interviewees with courtesy The interview represents the perfect opportunity to convey an exemplary image of your company and yourself. Be punctual, professional, friendly and most importantly, put the interviewee at ease. Remember to look at hiring not as a mere business transaction but as an opportunity to recruit a new “relationship” before recruiting an “employee”. 5. Keep existing employees satisfied and motivated If you believe in the power of wordof-mouth advertising, then there are no better promoters of your corporate brand than your existing employees. A satisfied employee will bring you to a better quality of job applicants, thus saving you time, effort and money. Today, transparency, integrity, support and gratitude is what the talented professionals are after in their quest for their ideal employer. For more useful tips, please visit www.smeinfo.me


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country focus

Jordan: An Opportunity Behind Every Crisis

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It will be another challenging year in 2013 for Jordan’s economy, yet there is no doubt that it will continue to be resilient.

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country focus

T

he turn of the century looked promising for Jordan as it recorded a robust growth of 6%-7% every year since 2000, with highs of 8% in 2004, and 7.8% in 2008. And although it did slow down with the world financial crisis to 2.8% in 2009, it did not stop it. Last year, Jordan grew by 3% according to the IMF, and is poised to grow slightly to 3.5 percent in 2013. Inflation is a concern, however, as it is slightly rise from 4.5 percent by the end of 2012 owing to high prices of essential commodities and decreasing government subsidies. And despite the ongoing regional turbulence caused by the Arab Spring, Jordan continues to navigate a steady course. According to a report published by the Oxford Business Group (OBG), Jordan’s resilience is a key advantage that the kingdom offers to foreign investors, who continue to regard the country as a strong base for targeting growth markets in the region and who are stepping up their involvement in core domestic industries such as energy, health care and information technology. The report further says that this stability, along with the country’s culture of tolerance and openness, is also a point of attraction for tourists, who flock to Amman, Petra, Wadi Rum and Aqaba in impressive numbers. The tourist sector currently accounts for 14% of GDP, and is expected to account for 23% by 2020. While the government continues to pursue a programme of energy diversification, rising budget deficits and a severe lack of natural resources remain pressing issues. However, these challenges also present new opportunities for growth, and with

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the broader economy returning to strength, Jordan is well placed to carve a niche for itself as a strategic regional player. Cause for concern A major cause for concern is the crisis in Syria and its effect on Jordan’s finances. Foreign reserves fell 34 percent during 2012 to just $6.85 billion, and while the Central Bank tried to intervene by raising the overnight rate on deposits to 4 percent, experts are unsure that the move provided the push necessary to convince Jordanians to invest in the dinar. Instead, they continue to move to foreign currencies. According to government estimates, there are about 250,000 Syrian refugees and 450,000 Iraqis currently residing in the country, and international aid is far from covering the cost. Some studies have shown that the cost of hosting Syrian refugees is around $750 million, which is about 15 percent of Jordan’s fiscal deficit. Focus on fiscal reforms Experts are urging government authorities in Jordan to focus on fiscal

reforms in the near-term, instead of growth. Mitigating financial risks, such as Jordan’s huge public debt, should be a key priority for policy developers and implementers to give it the leeway it needs to develop infrastructure and generate jobs at a later stage. In addition, fiscal reforms will send a strong signal that the government has enough gravitas and savvy to control its finances and adhere to fiscal discipline. The $2 billion fund it received from the International Monetary Fund is an excellent opportunity to show it can use this financial boost to institute reforms that will shield the Jordanian economy from external shocks and internal instability. A further $5 billion pledge from the GCC could help ease the impact of strict financial measures that will be implemented. Currently, Jordan is struggling to control rising public debt, which surged to 23.7% year-on-year in 2012 to $23 billion, according to data issued by the Ministry of Finance earlier this year, accounting for nearly three-fourths of the country’s GDP. Around $16.49 billion of the debt was held domestically at the end of 2012, marking an increase in internal debt of


country focus 30.7% on the previous year. The rise in state borrowing, combined with an increase in perceived risk levels, has made it more difficult for the private sector to obtain financing from banks, prompting concerns that growth among businesses will remain restricted. Small and medium-size enterprises, which account for 99% of all businesses in Jordan, have been hit particularly hard, obtaining just 11% of bank lending. However, the government’s plans to reduce spending, which include cutting fuel subsidies, could prompt banks to consider alternative ways of generating loan revenue. Yet, while Jordan’s banks are adopting a cautious approach to lending, and despite the fact that some financial institutions have been exposed to high levels of state debt, the sector continues to command widespread confidence. Cautious optimism With the ongoing expansion of the port and container terminal at Aqaba and the new terminal at the Queen

Alia International Airport, there is a sense of cautious optimism in Jordan’s transport and logistics sector. To keep up with expected growth rates, an expansion of the Queen Alia International Airport has been in the works since 2007. Airport International Group has been implementing the project, as well as running the airport under a 25-year build-operate-transfer

contract. The total investment into the expansion is expected to reach $800m and will include a new 100,000-sqmetre terminal, which is expected to open this month, as well as new runway and logistical upgrades. Another bright spot for Jordan’s economy, according to OBG, is the continuing inflow of large-scale overseas investments and increased state spending on infrastructure projects, which have now shifted to Aqaba. The flagship of Aqaba’s recent surge in construction activity is the Marsa Zayed project, a $10 billion mixeduse development being built along the coast on a 3.2m-sq-metre site, including 2 km of waterfront. The first stage of the development – Al Raha Village – comprises 260 apartments, almost 200 townhouses, retail space, recreational areas and a community centre. The initial phase is expected to be complete by 2015, according to Abu Dhabi-based developer Al Maabar. When the Marsa Zayed development is finished in the second half of the decade, it will have eight hotels with 3000 rooms, more than 30,000

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residential units and at least one large marina. Meanwhile, Saraya Aqaba, a $1 billion, mixed–use beachfront project, commenced development in 2010 and will comprise a wide variety of residential units, five high-end and two boutique hotels, and numerous retail, leisure and business facilities. Funding issues have caused delays but negotiations with a new contractor have begun and construction work is expected to start in the coming months. To accommodate the redevelopment of the city, Aqaba’s current port

facilities are being gradually moved to a new port close to the Saudi Arabian border. The current port’s phosphate terminal is due to be relocated to the new maritime centre by 2013. The new port will consist of four deepwater berths, following the construction of storage facilities, ramps and supporting infrastructure, with the work due to be completed by 2014. While large-scale developments, such as Marsa Zayed, Ayla Oasis and Saraya Aqaba, are aimed at the higher end of the residential market, an expansion of the population will require a broader range of housing, along with commercial and retail space, to meet

the needs of workers and businesses attracted to the city by the forecast economic growth. Over the coming decade, it is likely there will be a number of new urban projects launched in and around Aqaba, and while they may not have the same profile or budgets as the topend developments, the infrastructure and construction components should provide opportunities for both investors and contractors. Combined with the existing development projects, the construction sector in Jordan should see a healthy stream of orders coming onto their books for some time to come.


country focus VITAL SECTORS Food and Agriculture The Jordan Valley offers rich and fertile soil with a unique climate to the entire region Jordan is also the 8th producer of olive oil in the world Chemicals and Allied Products The Chemical Process Industry is currently producing mineral fertilizers, industrial chemicals, Petroleum products (fuels, lubricants) and cement, paints, adhesives and more. Education Jordan has made great strides in educational attainment for several decades and by 2001 has reached a youth literacy rate of 91% compared to the 88% of in the Middle East. Jordan’s education industry is built on strong fundamentals – extensive coverage, qualified teachers and improving facilities. Energy and Utilities Jordan is facing an increase in demand for energy as a result of economic growth, the birth of a consumer driven culture, a

rapidly increasing population and a protracted boom in construction. Government direction is geared on reducing energy dependence by increasing the available sources and options of renewable energy thereby offsetting inefficiency in the energy demand.

is transforming the face of major cities across the Kingdom. Rapid changes during the past five years have witnessed the rise of architectural structures and large development projects ranging from residential, commercial, tourism and industrial estates.

ICT Jordan’s ICT landscape provides a case study in what it takes to succeed in the international market place- a combination of sound policy, strong telecom infrastructure and growing talent. Jordan’s main strengths are in its extensive digital network, skilled labour force and strong government backing including the personal support of HM King Abdallah II.

Tourism Tourism is predicted to remain the fastest growing sector globally for the next two decades. In Jordan the tourism industry is realizing 10%12% sustained annual growth owing to several factors: Jordan’s location and rich cultural heritage assets, holy sites, stability and security, pleasurable climate and majestic nature, bustling business center, natural wonders, family and leisure tailored facilities.

Pharmaceutical There are 16 major investments employing 5,200 high caliber employees. The industry accounts for 20% of manufacturing GDP and has had a solid double digit growth annually since 2006. Real Estate The landscape of real estate in Jordan

Transportation Transportation infrastructure is well developed with includes road, rail and air. Various plans to achieve these improvements are at an advanced stage. (Source: Jordan Investment Board)

2013 Economic Freedom Index: Jordan Jordan’s economic freedom score is 70.4, making its economy the 33rd freest in the 2013 Index. Its score is 0.5 point better than last year, with gains in property rights and the control of government spending but an increase in the level of perceived corruption. Jordan is ranked 4th out of 15 countries in the Middle East/ North Africa region. Despite a challenging policy environment that reflects the

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region’s economic and political uncertainty, Jordan registered its sixth consecutive year of progress toward greater economic freedom, achieving “mostly free” status for the first time. Regulatory processes are relatively efficient and competitive. Improvements in public finance and the privatization of government enterprises have been staples of the reform agenda. Recent reforms have made business formation and operation easier, and the minimum

capital requirement has been eliminated. Nonetheless, substantial challenges to long-term economic development remain, particularly in implementing deeper institutional and systemic reforms that are critical to strengthening the foundations of economic freedom in Jordan. Political influence can be a problem within the judicial system, undermining respect for the rule of law, and corruption is a widespread aspect of life.


JANUARY 2013 arabbusinessclub.org 7


MBA programmers

Masters of

Business While many entrepreneurs and business leaders think they’ve got it made on their own, it might be worthwhile to continue learning about the ins and outs of business especially with a global economic environment constantly in a state of flux. Business conferences, workshops and seminars would be great to attend to network and learn; but it may be worthwhile to keep grounded on business fundamentals by enrolling in an MBA programme. Here are some excellent options for you to enhance your knowledge and skills, while managing your business at the same time. 48 arabbusinessclub.org APRIL 2013


H

aving an MBA is a tremendous boost for professionals seeking to climb up the corporate ladder; as well as for business owners who will benefit from having a solid grasp of business fundamentals that will enable them navigate the business landscape more skilfully and confidently. MBA graduates are known to possess excellent leadership skills, ability to think strategically and analytically. With the availability of a number of prestigious and internationally accredited MBA programmes in the UAE, those who will eventually succeed in obtaining this higher degree will have established a strong global network without ever having to leave the Emirates. There are several specialisations to choose from such as HR Management, Information Technology, International Banking and Finance, all of which can give the MBA student a chance to either move up to higher management positions or bring their businesses to new levels of competitiveness. Following are some of the more prestigious institutions you can apply to. } HULT INTERNATIONAL BUSINESS SCHOOL 7th Floor, Block 10, Dubai International Academic City, P.O. Box 502988 Tel: 04-3900710 Fax: 04-3908600 www.hult.edu/en/campuses/dubai/ Hult offers students a unique opportunity to see the world while they study. During your programme you can start anywhere and go anywhere. In the Global Campus Rotation, you can pick your home campus and then spend up to three months studying at two others. Students could begin in Boston, then travel to Shanghai via London or São Paulo, or San Francisco via Dubai or New York. You’ll get an inside look at the world’s fastest-growing economies and examine international business practices close-up. Almost 90% of our students choose Hult because they are

interested in this option, and over half of our students spend time on more than one campus. Global perspective and network Hult provides you with an unrivaled, intimate global experience, working alongside peers from 135 nationalities speaking 105 languages, learning from faculty with American, European, and emerging market expertise. Hult students graduate with the ability to thrive in international business and adapt rapidly to changing global environment. Hult takes your network to a global level – this unparalleled diversity not only creates lifelong friendships and worldwide connections but also provides you with first-hand experience working in multinational teams—foundational skills for a global executive. Ranking and accreditation Hult continues its rapid ascent in business school rankings, currently ranking in the top 1% of all business schools. Hult is ranked #21 in the US and #31 in the world by the Economist (2012) and #57 in the world by the Financial Times (2013). Hult also ranks in the Financial Times top 10 for international business, international experience, and international mobility. American-style graduate programs have long been the premier standard in business education. Hult International Business School is accredited by the New England Association of Schools and Colleges (NEASC) and Association of MBAs (AMBA). That means that no matter where you decide to pursue your Master, you will graduate with a U.S.-accredited degree. } LONDON BUSINESS SCHOOL Dubai - London Programme Office DIFC Education Centre, Level B1, The Gate Dubai, UAE www.london.edu Through London Business School’s firstclass programmes, global community and international links, we can deliver an educational experience to transform our students’ futures.

LBS offers a rich portfolio of masters and non-masters programmes to suit students and executives at every stage of their careers, including: • MBA • Executive MBA • EMBA-Global • Dubai-London EMBA • Masters in Finance • Sloan Masters in Leadership and Strategy • Masters in Management • Executive Education • PhD Our credentials Both the School’s full-time and Executive MBA programmes rank among the world’s best, according to the Financial Times and BusinessWeek business education surveys. We’re also one of only three business schools in the world, and the only one in Europe, to offer a Sloan MSc programme. And we’re the only top business school to offer a specialist Masters in Finance programme. We’ve twice been awarded the highest research rating - 5* - by the Higher Education Funding Council for England (HEFCE) Executive MBA London Business School’s Executive MBA is a transformational experience, both personally and professionally. It equips you with the skills, knowledge and networks to propel your career - wherever you decide to take it. Whether you choose to focus your study in London or Dubai, the programme format has been specifically designed to help you balance a demanding career and personal commitments with a 20-month period of intensive study and professional development. Taught by world-renowned faculty, you benefit from the diverse perspectives of peers from a wide variety of nationalities, job functions and industry sectors. } MANCHESTER BUSINESS SCHOOL Office F116, Block 2B, Dubai Knowledge Village, Dubai, PO Box 502907 Tel: 04 4468664 Fax: 04 4468665 arabbusinessclub.org APRIL 2013

49


MBA programmers http://uae.portals.mbs.ac.uk/ Manchester Business School opened its Middle East Centre in UAE at the Knowledge Hub called the ‘Dubai Knowledge Village’ in 2006. The centre provides support and co-ordination to about 1300 students in the Middle East region, all of whom are experienced functional specialists or business managers. Over 85 nationalities are represented in the student body. Executive educational facilities The Middle East centre, based in Block 2B at the knowledge hub, Dubai Knowledge Village, offers study, library and classroom facilities for students and visiting faculty from MBS, as well has office space for the MBS Worldwide regional team, which co-ordinates and supports all student activities, including highly interactive and intensive workshops conducted by visiting faculty from MBS. A recent expansion at the centre has also increased the range of facilities available for students. Our graduates and alumni We are delighted to have MBA graduates from the Middle East region. Since our first batch graduated in 2009 they have launched the MBS Worldwide Alumni Association-Middle East. Manchester Business School continues to receive a number of rankings and accreditations from numerous awarding boards - not only in the UK but from all over the world. Ranking The 2013 Financial Times survey ranks our MBA 5th in the UK, 11th in Europe and 29th in the world. According to the FT, MBA students can expect a 111% salary increase and this is echoed in the School’s position as 3rd in the world for alumni achieving their aims. For the third consecutive year The FT rates Manchester’s Doctoral programme as number one in the world. We continue to be a world leader in our commitment to teaching business in its international context, ranking 21st in the 50 arabbusinessclub.org APRIL 2013

world for international experience on the programme. The MBA Career Guide survey of international MBA recruiters places us 2nd in the UK, 7th in Europe and 15th in the world. We are ranked 2nd in the world, outside the US, by business title Forbes. The Forbes rating uses return on investment (ROI) as its main measure, combined with feedback gathered from MBS’ global alumni community. Part-time Global MBA Raise your aspirations on this world class, international part-time MBA programme which focuses on you as a leader from the very beginning. From entrepreneurship to international finance you will benefit from the latest thinking and hone the skills that will set you apart in today’s competitive marketplace. } CASS BUSINESS SCHOOL DUBAI Dubai International Financial Centre (DIFC), Gate Village, Building 2, Level 3 P.O. Box 482070, Dubai, UAE http://www.cass.city.ac.uk/courses/mba/ executive-mba-in-dubai Established in May 2007, Cass’s Dubai Centre is a regional centre of educational excellence for the Middle East and North Africa (MENA). We offer a number of courses, including a highly rated Executive MBA. Located in the prestigious Dubai International Financial Centre (DIFC), the Cass Dubai Centre offices were officially launched on 5 May 2009 under the patronage of His Highness Sheik Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. Now fully established in the region, Cass has emerged as a market leader in postgraduate education for employers and employees alike. We have achieved this by creating a unique environment in which students benefit from the expertise of business leaders while accessing outstanding networking opportunities and career enhancing connections.

The Cass EMBA in Dubai is designed to meet the needs of business executives in the Middle East and surrounding regions. It forms part of a Cass Executive MBA offering that ranks amongst the world’s elite. In 2012, the Financial Times ranked the Cass EMBA fourth in the UK, tenth in Europe and 32nd in the world. The Cass EMBA in Dubai is a two-year course delivered in a monthly block weekend format (Thursday - Sunday 09:0017:00) to accommodate busy working professionals from the region. As such, it has the advantage of enabling you to work and study at the same time, allowing you to add to your qualifications without stepping back from the business world. Fully accredited The Cass MBA is accredited by the Association of MBAs (AMBA),the Association to Advance Collegiate Schools of Business (AACSB) andthe European Quality Improvement System (EQUIS). EQUIS requires accredited business schools to demonstrate not only high general quality across all activities but also a high degree of internationalisation. So with Cass you can be confident of high quality teaching and a top-ranking qualification. Licensed by the Knowledge and Human Development Authority. The academic qualifications granted by this institution and certified by KHDA are recognised in the Emirate of Dubai by all public and private entities for all purposes. Flexible and valuable options In addition, the Cass EMBA in Dubai offers you the choice of building a general management Executive MBA with concentration in Islamic Finance (we are the first top-ranked course in the world to offer a specialization in Islamic Finance, Finance or Energy. } INSEAD ABU DHABI Abu Dhabi Campus, Muroor Road, Street 4, P.O. Box 48049, Abu Dhabi, UAE Tel : 02 651 5200 Fax: 02 443 9461 http://campuses.insead.edu/abu_dhabi/


With half a century’s experience in delivering unsurpassed business education, and three decades of conducting research and executive education programmes in Europe and Asia, INSEAD extended its reach into the Middle East in 2007 with the establishment of the campus in Abu Dhabi. The Middle East plays an increasingly critical role in any global business strategy as world resource demand grows. INSEAD is committed to developing business education across this dynamic region, offering insights into advanced managerial ideas and worldwide business practices in one of the fastest growing and exciting geographies of the world. It is with this goal that we have launched seven openenrolment programmes at our campus in Abu Dhabi. INSEAD’s campus in Abu Dhabi was also established to better understand

and contribute to the development of the region through in-depth research of important business topics of both regional and global interest. Led by INSEAD’s world class faculty, applied research initiatives are being undertaken in several areas including: women and leadership, healthcare and human resources management and humanitarian logistics. The Abu Dhabi Campus was inaugurated on 28 June 2010 under the patronage of His Highness General Sheikh Mohammed Bin Zayed Al Nahyan, The Crown Prince of Abu Dhabi and The Deputy Supreme Commander of the U.A.E Armed Forces. INSEAD participants experience lifechanging outcomes because our focus is fixed on the practical worth of every idea we discuss, learn and teach. On our Global Executive MBA programme, this includes developing a leadership style

Investing in your self Here’s how much it costs roughly to invest on your MBA education. All tuition costs are estimates. Check schools for further information. SZABIST Dubai MBA

$2,471 per semester

BITS Pilani Dubai MBA

$13,076

Strathclyde Dubai MBA

$14,986

Manipal University Dubai MBA

$7,800 per year

Amity University Dubai MBA

$9,590 per year

Murdoch University Dubai MBA

$20,899

Canadian University of Dubai MBA

$21,796

University of Wollongong Dubai MBA

$24,196

Cass Business School Dubai Executive MBA

$24,523

Middlesex University Dubai MBA

$25,068

SP Jain Center of Management Dubai MBA

$25,202

University of Bradford Dubai Executive MBA

$25,600

Emirates Aviation College MBA

$26,703

American University Dubai MBA

$32,370

Manchester Business School Dubai MBA

$35,694

Institute of Management Technology Dubai MBA

$37,061

Rochester Institute of Technology Dubai MBA

$39,237

Hult International Business School Dubai MBA

$46,32

London Business School Dubai Executive MBA

$58,855

that is authentic for you and discovering the true value of diversity, driven by our innate curiosity. And with three convenient formats to complete the programme on the INSEAD campuses: Europe, Asia and the Middle East, the Global Executive MBA leverages its three hubs to provide an unmatched international and multicultural experience. Furthermore, INSEAD also offers a dual degree programme with China’s renowned Tsinghua University, the TsinghuaINSEAD EMBA (TIEMBA). This programme specifically offers an in-depth understanding of business in China both from a domestic and international perspective, with lessons that can also be applied to other emerging markets. By collaborating with faculty, staff and peers from every corner of the world, your problem-solving skills will be shaped by myriad new perspectives. And as you study across three continents, you will acquire a personal network of driven leadership talent that will sustain your professional development. That’s the authentic INSEAD experience. Eligibility for admission Although the admission criteria differ from one university to another, some common requirements for MBA admissions in Dubai are: • At least two to three years of experience at the Managerial level and/or professional qualification as alternative to first degree. • Statement of purpose • GMAT score (GMAT is a computeradaptive exam which assess verbal, quantitative and analytical writing skills). • Official transcripts of schools and college • TOEFL or IELTS score (a minimum score of 7.0 may be required if English is not your first language). • Recommendation letters

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BEST PRACTICE

Organisational Development:

The Challenges of Building Business Organisations in the UAE Business organisations need to adapt to changes in the environment not only to survive, but to stay ahead of the pack. In this article, Nazar Younis, PhD, shares a few approaches on how organisations can best achieve balance within as well as evolve and innovate to properly address challenges from without.

T

he organisation is a reflection of its constituent stakeholders, and ultimately its clients. It serves to deliver the goals as much as they serve it through focusing on or inculcating functionality. There is one thing that they must keep in mind, and that is: they must not allow it to become a subservient to their vested interests, whims, and personal aspirations that are not geared to or be or parallel to that of the organisation. The organisational chart is not a recruitment template. It is a roadmap to function and achieve the organisation aims and reasons for existence. The organisation needs someone who 52 arabbusinessclub.org APRIL 2013


can translate these aims into policies and action plans; the organisational structure is a step or component, not a final outcome. The internal mechanics of the inner workings of the organisation need always to be “greased” and “fine tuned”, otherwise, sooner or later it will “jam” or all together stop functioning in the way it was meant to be.

unselfish and professional manner (devoted to the ultimate interest of the organisation), sans the ulterior motives. Most managers will tend to act and accommodate their self interests, or protect their turfs, and promote their own agendas. This is a fact of life; however, it is not bad as long as it parallels that of the organisation goals and interests.

The eventual outcome will be an awry organisation! And, of course, the negative impact would be on whoever is the customer. There are many instances that the organisational chart becomes a “confidential” document - the reason most likely is for the middle management to play politics.

Needless to say, meaningful change must all start with a visionary leader, who would continuously “kick” the organisation and destabilise it from time to time. The purpose is to come up with a better direction, one that allows for more creative set of goals that would put everybody in a discomforting position (temporarily) until they move a notch or two forward and eventually achieve balance.

But how one would do that? In the UAE, where the economy is in a continuous turmoil due to the ever challenging demands of growth and better performance, such organisational changes are imperative. Those that fail will have organisation that suffer from the drag of self serving, self interest groups on the one hand; and the ever increasing complexity of the demands of the market place. In addition, most expat management finds it difficult to recognise the tempo of the local culture of business, and why people would need the time to absorb the changes. This is not to say that it must always accommodate “slowness” but they cause frustration to the point of giving up. This will lead to “going back to square one” and the cycle may repeat itself at a later time, with similar results. This is a vicious cycle. On the other side of this issue, it is hard to imagine management, represented by its human constituents, would act in an

This act will create an unsettling situation that “may” drive innovation by introducing better setups. On the other hand, a backlash might slam the process shut, and this is a risk management has to take. Some may argue that “communication” cost much effort and time, and may disrupt the normal work, but if the organisation is embarking on a change, this time will be well spent. In this day and age, there are numerous ways to communicate, from regular meetings to update the employees, to the use of modern IT like Internet blogs, mobile (SMS) and video conferences,. The idea is to prevent the employees from engaging in speculations, rumours and gossip that would lead to false assumptions that would create negative reactions. Re-inventing the organisation, or as some call it re-organisation should

be an ever continuing process, but to avoid creating havoc among the rank-and-file, it should start, at the beginning, close to the clouds (at the top of the echelon of management), and eventually it will rain the fields. Re-organisation, despite many who think it is a methodical transformation, in reality is not! It is a re-shuffling of roles to come up with something different. The methodical transformation in reality is nothing but “horse trading” for political positions of the players that will end up in usurping the spirit of creativity of how the organisation should function, to how the individuals share power. This is a drawback that must be resisted, by allowing as many as possible of the employees to get involved. The change that is sought by re-organising will be painfully realised, and not withstanding what is been said earlier, there is a need to meticulously re-invent the processes. Nazar Younis, Ph.D. is presently a Professor and Director of International Operations of the American College of Commerce and Technology, Virginia. He likewise taught in the Engineering school at the Cleveland State University/Ohio, the Business school at the Rockhurst University/Kansas, and in the Business school at the Sultan Qaboos University/Oman. Dr Younis is credited with numerous papers and articles in the area of management science and engineering technology. His work in management consulting and training spans many years in US and the Gulf countries. He holds a PhD in Industrial Engineering from the Pennsylvania State University.

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luxury for him

Roger Dubuis Excalibur Table Ronde Givenchy Belt Bottega Veneta Aviator Sunglasses

Givenchy Belt

For Him An accomplished gentleman needs no introduction‌what he wears makes all the right impressions. He’s gone very far with his sharp insights and commands attention with his impeccable style.

Jimmy Choo Driving Shoes

Marc Jacobs Pouch Bag 54 arabbusinessclub.org APRIL 2013


The all-new Bentley Flying Spur

Paul Smith Tie Clip Saint Laurent

Valentino Cross Grain Leather belt

Aesop antioxidant grooming kit Gucci Tuxedo Top

Gucci Tuxedo

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luxury for her

Prada sunglasses

Heirlooms 18-karat gold, platinum, diamond and sapphire ring

For Her

Chic sophistication defines her style…she walks confidently and speaks with firmness and charm. Her aura is beguiling and her fashion sense, simply impeccable.

Larkspur & Hawk gold-dippem amethyst earrings

Diane Von Furstenberg Clutch

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Jimmy Choo Nikita mirror-studded wallet

Eugenia Kim Hat

Giuseppe Zanotti Leather Boots

Valentino

Karl Lagerfeld Leather Watch

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MEMBERS’ EXCLUSIVE

1 2 3

Arab Business Club is now providing its members with the unique service of securing a 30 days tourist visa to the UAE, hassle free and for a special rate of US 220$ only. For more information, please send your inquiries to visa@arabbusinessclub.org

4

Arab Business Club is now providing its members with the unique service of offering special rates on hotel book ing and reservations. We provide reservation in 5 and 4 star hotels and luxury hotel apartments, throughout the UAE. Options for short, long or permanent stay are avail able. For more information, please send your inquiries to hotels@arabbusinessclub.org

Arab Business Club is now providing its members with unique transportation services that include: - Airport Pick-up. - Limousine service with driver. - Car rental services. We provide only the latest and most luxurious car and limousine brands, giving you an unmatched list of premium options to choose from. For more information, please send your inquiries to car@arabbusinessclub.org

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5

Arab Business Club, the premier global business leaders’ com munity, is proud to provide its members with comprehensive and custom-tailored business setup and counseling services that include: - Helping with license documents and requirements. - Providing influential and trustworthy local partners. - Business counseling services (Business ideas, investment opportunities, business buying/ selling, feasibility studies, market research, etc.) - Hiring and employment services. For more information, please send your inquiries to setup@arabbusinessclub.org

Arab Business Club is proud to provide its members with special rates on some of the UAE’s most attractive and sought after tour and safari programs. The offer includes plenty of unique and carefully planned activities: - Desert Safaris (different programs available) - Shopping Tours - Tours of all UAE cities Adventures (several programs available) - Cruise ship Tours For more information, please send your inquiries to tours@arabbusinessclub.org.


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DISTRIBUTION Reference Code : abc115

The offer Cost : US$12m Contact: hamdan@imail.ae Mobile : +971508864116

Description We cover distribution of magazines to government,companies embasies and consulates, hotels, airport lounges, etc in UAE. We also handle distribution to Bookstores, fuel stations and other places that sell magazine. We also use distribution of magazine via Emirates post. We can send to our list, or you can provide us with your list. We can handle the National media council approvals for distribution as well. Contact: hamdan@imail.ae Mobile : +971508864116

Contact: hamdan@imail.ae mobile : +971508864116

60 arabbusinessclub.org APRIL 2013

Please contact us at hamdan@imail. ae Mobile : +97155 9687177

MANUFACTURING Reference Code : abc121 UAE : Furniture Factory for Sale Description Furniture factory for sale with valid company trade license, 15 staff, accommodation : 6 rooms attached to factory : carpentry area, upholstery area, curtain area, painting area The factory manufactures the following: doors, dressing rooms, sofas, wooden door, curtains, & all related furniture types area of the factory is 1500 sq m and it is located in Um Al Quwain The Offer Cost : US$ 190.500

UAE : Magazine Distribution Service

Description Complete solution for setting up your company in UAE, including company formation service, sponsor/service agent; PRO services, market research etc.

To list your classified ad, contact: ads@ arabbusinessclub. org | Rate: $100 per listing


SECURITY

TOURISM

INTERIOR DESIGN

Reference Code :abc137

Reference Code :abc138

Reference Code :abc139

UAE: Security Company For Sale

UAE: Hotel for Sale

Description Security company based in Dubai trading successfully for 9 years with 90 employees. Has a clear history with government departments in Dubai. All security guards certified by the Department of Protective Systems and fully trained. Well established existing contracts.

Description Brand new 3-Star hotel for sale in Bur Dubai

UAE: Interior Decoration Company for Sale

The offer price: AED7,200,000 Contact: hamdan@imail.ae Mobile: +971508864116

Description A well running interior decoration company with 3 office staff, 2 supervisors & 29 skilled workers; as well as 2 15seater vehicles, bank accounts for urgent sale. Good business. Company started in May 2005. Have lots of contacts in UAE.

The offer price: AED 2,300,000

The offer price: AED 600,000

Contact: hamdan@imail.ae Mobile : +971508864116

Contact: hamdan@imail.ae Mobile: +971508864116

F&B

CONTRACTING

REAL ESTATE

Reference Code :abc140

Reference Code :abc141

Reference Code :abc142

UAE: Floating Dhow Restaurant in Dubai For Sale

UAE: Well running G+1 Contracting Company for Sale

UAE: Operating real estate company (LLC) in Abu Dhabi for sale

Description A once in a lifetime chance to own a floating dhow restaurant. Maximum capacity of 130 people, with toilet facilities for both male and female. Made in 2006.

Description Excellent G+1 contracting company in Dubai for sale.

Description Real Estate Company (LLC) in Abu Dhabi, UAE operating for three years now is for sale. Professional team, dynamic website, data base, fully equipped office in Abu Dhabi centre. Offers commercial and residential properties for rent and sale, as well as property management services.

2006 MODEL YANMAR(385 hp) DIESEL ENGINE. LENGTH 79 ft, WIDTH 20 ft, DEPTH: 7.5 ft The offer price: AED 1.5 MILLION Contact: hamdan@imail.ae Mobile: +971508864116

The offer price: AED 550,000 Contact: hamdan@imail.ae Mobile: +971508864116

Active business contracts with leading Abu Dhabi’s companies. The offer price: AED 500,000 Contact: hamdan@imail.ae Mobile: +971508864116

List your ad here so it can be seen by thousands of investors and business men all over the world. Contact: ads@arabbusinessclub.org

arabbusinessclub.org APRIL 2013

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members’ list

ABC Latest Member List

NAME

COMPANY

DESIGNATION

LOCATION

Hassan Khan

Mondo Hospitality

Chief Executive Officer

U.A.E.

Hospitality

Nasser Yateem

Yateem Group

Executive President

U.A.E.

Trading

Sharjah Islamic Bank

Chief Executive Officer

U.A.E.

Banking

Mondo Hospitality

General Manager

U.A.E.

Hospitality

Elias Shomali

Yateem Group

Financial Adviser

U.A.E.

Trading

Ahmed Saad

Sharjah Islamic Bank

Deputy Chief Executive Officer

U.A.E.

Banking

Ali El Forjani

Consulting Services Group

Chairman

Libya

Consultancy

Nila Pendarovski

Mondo Hospitality

Managing Director

U.A.E.

Hospitality

Mathews Jacob

Yateem Group

General Manager

U.A.E.

Trading

Rahma Al Shamsi

Sharjah Islamic Bank

Head of Corporate Banking Group

U.A.E.

Banking

Baiju Narayanan

Mondo Hospitality

Chief Financial Controlle

U.A.E.

Hospitality

Saeed Al Amiri

Sharjah Islamic Bank

Head of Investment Group

U.A.E.

Banking

Hang Wen

Huawei Technologies Co. Ltd.

Deputy General Manager

U.A.E.

Telecom

Mohammed Abdulla

Deepak Singhal

62 arabbusinessclub.org APRIL 2013

INDUSTRY


JUNE

19 WED

Arab Business Club 2nd Annual Banking and Finance Event – June 19, 2013 The 2nd Annual Banking and Finance Event will bring together the Arab Business Owners, C Level Management of Companies within Banking, Finance, and Investments in Banks and Stock Markets. The program for the 2013 Banking and Finance Events is designed to focus on important current issues in banking and finance. EVENT DETAILS: Date: 19th June 2013 Venue: Dubai, UAE

Arab Business Club Health Care Event – 11th September 2013 The Health & Care Event aims to be the foremost annual gathering of the Arab Business Owners Business owners and C level management Hospitals, Ministry of Health, Health Care City Hospitals, Pharmacies, Doctors, Medical Suppliers, Medical Universities, and Medical HR. The program for the 2013 Health & Care Event is designed to provide an unrivalled platform for the world’s leading manufacturers, wholesalers and distributors to meet the medical and scientific community from the Middle East and beyond. EVENT DETAILS: Date: 11th September 2013 Venue: Dubai, UAE

2013

Arab Business Club 2nd General Networking Event 3 The 2nd General Networking Event aims to be the foremost gathering of the high-profile business leaders, key investors and developers from different business sectors. The program for the 2013 General Networking Event is designed to unlock business potential within the Middle East for different business sectors. . EVENT DETAILS: Date: 13th November 2013 Venue: Dubai, UAE

NOV

13 WED

SEPT

11 WED

OCT

9

WED Arab Business Club General Networking Event – 9th October 2013 The General Networking Event aims to be the foremost gathering of the high-profile business leaders in U.A.E. The program for the 2013 General Networking Event is designed to focus on the economic prospects of U.A.E. EVENT DETAILS: Date: 9th October 2013 Venue: Dubai, UAE

DEC

11 WED

Arab Business Club 2nd Annual Energy, Oil and Gas Event – 11th December 2013 This event aims to be the foremost gathering of Business owners and C level management Oil and Gas Industries, Petroleum Companies, Oil Logistics and Investors in Oil and Gas. The program for the 2013 Energy, Oil & Gas Meeting is the place where oil and gas industry professionals get together to experience, discover, network, discuss and debate core industry issues. EVENT DETAILS: Date: 11th December 2013 Venue: Dubai, UAE

arabbusinessclub.org APRIL 2013

63


RESOURCES - CONTACTS RESOURCES-CONTACTS

Arab Chambers of Commerce & Industry ALGIERS CHAMBER OF COMMERCE Chambre de Commerce Palais Consulaire B.P. 100 - Alger Ier Novembre 6, Bd Amilcar Cabral, Bab-El Oued. Algiers, Algeria Phone: (213) 2-574444 Fax: (213) 2-629991 BAHRAIN CHAMBER OF COMMERCE & INDUSTRY PO Box 248, King Faisal Highway Manama, Bahrain Phone: (973) 229 555 Fax: (973) 224 985 DJIBOUTI CHAMBER OF COMMERCE Place de LaGuarde PO Box 84 Djibouti, Djibouti FEDERATION OF EGYPTIAN CHAMBERS OF COMMERCE 4, Midan El Falaki Street Cairo, Egypt Phone: (202) 3551164 Fax: (202) 3557940 FEDERATION OF IRAQI CHAMBERS OF COMMERCE P.O. Box 11348 Mustansir Street Baghdad , Iraq Phone: (964) 1-8888850 Fax: (964)1-8882305 FEDERATION OF JORDANIAN CHAMBERS OF COMMERCE PO Box 7029 Amman, Jordan Phone: (962) 6-665492/674-495 Fax: (962) 6-685997 KUWAITI CHAMBER OF COMMERCE & INDUSTRY Chamber’s Building Ali Al Salem Street. PO Box 775 13800 Safat, 13091 Kuwait Phone: (965) 2439155/2468934 Fax: (965) 2452080 64 arabbusiness arabbusinessclub.org APRIL 2013

BEIRUT CHAMBER OF COMMERCE & INDUSTRY PO Box 11801, Samayah 2100, Justinian Street Beirut, Lebanon Phone: (961) 1-353390 Fax: (961) 1-866802 GENERAL UNION OF ARAB CHAMBERS OF COMMERCE, INDUSTRY & AGRICULTURE P.O. Box 2837-11 Beirut, Lebanon Phone: (961) 1-814269 FEDERATION OF CHAMBERS OF COMMERCE, INDUSTRY & AGRICULTURE P.O. Box 2321 Tripoli, Libya Phone: (218) 21-33755

MAURITANIA CHAMBER OF COMMERCE & INDUSTRY PO Box 215 Avenue de la Republique Mauritania, Mauritania Phone: (222) 2-52214 Fax: (222) 2-53895 FEDERATION OF MOROCCAN CHAMBERS OF COMMERCE 6 Rue Erfoud PO Box 218 Rabat, Morocco Phone: (212) 7-767051 Fax: (212) 7-767076 OMAN CHAMBER OF COMMERCE AND INDUSTRY PO Box 4400 Ruwi, Muscat, Oman Phone: (968) 707674/684/694 Fax: (968) 708497 QATAR CHAMBER OF COMMERCE & INDUSTRY PO Box 402 Doha, Qatar Phone: (974) 324347/326366 Fax: (974) 324338

COUNCIL OF SAUDI CHAMBERS OF COMMERCE & INDUSTRY PO Box 16683, Riyadh, 11474 Saudi Arabia Phone: (966) 1-4053200 Fax: (966) 1 4024747 MOGADISHU CHAMBER OF COMMERCE INDUSTRY & AGRICULTURE P.O.Box 27 Via Asha Mogadishu Somalia Phone: (252) 3209 SUDAN CHAMBER OF COMMERCE PO Box 1701 Khartoum, Sudan Tel: 249-1172345 FEDERATION OF SYRIAN CHAMBERS OF COMMERCE Damascus - Mousa Ben Nousair St. P.O. Box 5909 Phone No. 0096311 3311504 / 3337344 Fax No. 0096311 3331127 TUNISIAN UNION OF INDUSTRY, COMMERCE & HANDICRAFTS 103 Avenue De La Liberte Tunis, Tunisia Phone: (216) 1-780366 Fax: (216) 1-782143 FEDERATION OF THE U.A.E CHAMBER OF COMMERCE & INDUSTRY. PO Box 3014, Abu Dhabi United Arab Emirates Phone: (971) 2-214144 Fax: (971) 2- 339210 FEDERATION OF YEMEN CHAMBERS OF COMMERCE & INDUSTRYPO box 16990, Hasaba, Airport Road Sana’a Phone: (967) 1-223539 Fax: (967) 1-251551


BUSINESS CLUB

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BUSINESS CLUB MAGAZINE

Arab Business Club Magazine is a monthly, market intelligence publication dedicated to members of the Arab Business Club and the international business & investment community. The magazine has a print run of 25,000 copies. With distribution in:

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Tel: + 971 4 3583000; Mob: +971 50 703 6116

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ads@arabbusinessclub.org 64 Email: arabbusinessclub.org APRIL 2013; Web: www.arabbusinessclub.org


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68 arabbusinessclub.org APRIL 2013


Arab Business Club Magazine Issue 13 April 2013