Economic Focus 4 by Distinctive Media Group Ltd

ECONOMIC FOCUS

ISSUE 2 VOL 8 SUMMER 2013 MAGAZINE OF THE ARAB-BRITISH CHAMBER OF COMMERCE

Zayed National Museum, Abu Dhabi

> REPORTS IN ENGLISH AND ARABIC

> UK ECONOMIC SURVEY

> PREVENTATIVE HEALTHCARE

> DOING BUSINESS IN BAHRAIN

> TAX CHANGES ON UK PROPERTY FOR NON-UK RESIDENTS

> FOCUS INTERVIEWS

> ENTERING THE SAUDI MARKET

> CHAMBER ACTIVITIES

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Economic Focus is an Arab-British Chamber of Commerce publication. Editorial Team Abdeslam El-Idrissi Cliff Lawrence David Morgan Dr Yasmin Husein Arab-British Chamber of Commerce 43 Upper Grosvenor Street London W1K 2NJ Tel: +44 (0) 20 7235 4363 Fax: +44 (0) 20 7245 6688 economicfocus@abcc.org.uk www.abcc.org.uk

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CONTENTS

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Focus Reports

Quarterly British Economic Survey 60

Focus Interview: Rider Levett Bucknall

Advertising

A Special Report

Why Saudi Arabia isnâ&#x20AC;&#x2122;t just another export market

Preventing Obesity and Diabetes

Disclaimer

Doing Business in Bahrain

Distinctive Publishing or Arab-British Chamber of Commerce cannot be held responsible for any inaccuracies that may occur, individual products or services advertised or late entries. No part of this publication may be reproduced or scanned without prior written permission of the publishers and ArabBritish Chamber of Commerce.

Changes to Taxation on UK Property for Non-UK Residents

Distinctive Publishing Tel: 0845 884 3829 ewan.waterhouse@distinctivepublishing.co.uk

Education and Skills

Chamber News Chamber Activities

New Members

Arabic Section

Focus Interview: RE/MAX Prestige 34

ISSN No: ISSN 1751-4339

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ECONOMIC FOCUS CHAMBER NEWS

Opportunities in the Arab Construction Sector Economic Focus speaks to Lance Taylor, CEO of property and construction consultancy, Rider Levett Bucknall. Please briefly describe your career before joining Rider Levett Bucknall and your areas of expertise.

Alliance, managing the successful full local registration of a Rider Levett Bucknall office in Saudi Arabia in 2011 and opening the Rider Levett Bucknall in Mumbai, India, also in 2011.

I joined Rider Levett Bucknall, formerly Bucknall Austin, in 2003 as a partner responsible for project management. In 2007, at the age of 38, I became CEO, responsible for the strategic business development, global expansion and service offer improvement of Rider Levett Bucknall.

Last year I oversaw the successful delivery of Rider Levett Bucknall’s contract for the London 2012 Olympics. The firm provided all cost management services for LOCOG venues and infrastructure, along with health and safety, venue security and infrastructure project management for the Games. We were all extremely proud to be involved in the Games in this way as I’m sure many will appreciate.

My career in construction began as a graduate site engineer in the Midlands. Prior to joining Rider Levett Bucknall I was a partner of GVA Grimley where I was responsible for project management. Major projects I worked on included the regeneration of the 1,000 hectare Corus site at Shotton.

What have been your main achievements during the decade that you have been with the company? The first was leading the merger in 2007 between Rider Hunt, Levett & Bailey and Bucknall Austin to form the Rider Levett Bucknall global alliance. This took us from 450 staff to 1,250, followed by an organic expansion to create a worldwide expertise of more than 3,000 staff with over 100 offices. I am also responsible for the formation of the Rider Levett Bucknall European

More recently I was delighted that Rider Levett Bucknall received global recognition for its approach to sustainability. We were awarded a Level C rating by the Global Reporting Initiative which is the most internationally recognised sustainability reporting framework. Sustainability is at the core of everything we do and to be recognised on a global stage is a privilege.

What have been the main challenges that you have faced during this time? Without doubt it has been the global economic crisis and facing the worst UK recession since the 1920s. The UK is now in its fifth year of recession and successfully dealing with it continues to be a combination of hard work and creativity.

Lance Taylor

Rider Levett Bucknall has not escaped the recession, but the creation of the global practice has enabled us to operate in a number of worldwide areas where demand for capital projects has been sustained. We have also focused on operational management improvements. These include careful investment in people, services and customer relationships. It is tough. It requires extreme discipline because you have to keep investing in the fundamentals that sustain your business for tomorrow, whilst dealing with the downturn of today. We have adapted to the needs of the marketplace. We deliver a ‘more with less’ service, focused on efficiency and reducing costs, both for ourselves and for our clients. This has made us more sustainable and profitable; we improve value for money, reduce costs and increase profitability for our clients, which results in repeat business. We have termed this approach Responsible Management and applying this to everything we do gives our clients a competitive edge in the current climate.

Explain briefly the activities of Rider Levett Bucknall in the Middle East & North Africa? Rider Levett Bucknall has had a local presence in the Middle East for over 30 years. We have licensed local offices in Abu Dhabi, Doha, Oman and Riyadh. This presence gives us a robust delivery and after care capability throughout the region. As a multi-disciplinary group, we offer a comprehensive range of complementary cost consultancy, project management and advisory services from conception through to design and construction and operational performance. Our clients have rapid access to our latest industry intelligence and innovations which help enhance value and mitigate risk. We work with developers, end-users, funders, architects and contractors on a range of sectors including offices, hotels, education, infrastructure, residential,

ARAB-BRITISH CHAMBER OF COMMERCE

tall buildings, mixed use and sports development. Some of our current major clients include BAE Systems, Nakheel and Aldar.

Describe some of your main projects in the Arab region. Rider Levett Bucknall is working on a host of projects in the Arab region. Examples of our projects include the King Abdullah Financial District and King Fahad Medical Facility in Riyadh and the Knowledge Economic City in Jeddah. In Dubai, projects include Elite Tower, the Palm Mall and Fountain Views Towers. In Abu Dhabi, projects include Al Falah City and the Zayed National Museum as well as the Abu Dhabi Arena. In Doha we are working on Musheireb Downtown Doha and Lusail City. There are many others and I would recommend visiting our Middle East section on the Rider Levett Bucknall website www.rlb.com to find out more.

Msheireb Downtown Doha

Please describe in brief the company’s “current business focus”, as referred to on your website. Our current business is very much focussed on strengthening the reputation we have in the Middle East by delivering a continued understanding and respecting of the culture. We do have a track record in the Middle East and our network continues to grow. As with most places in the world, the stronger the network, the stronger the opportunities for work become. The Middle East, and in particular Saudi Arabia, is relationship driven. This is something Rider Levett Bucknall understands given that creating and strengthening relationships with customers is at the heart of our ethos. We also remain focussed on transferring Western skill and best practice expertise into the Arab world. Localisation is a vital component of our sustainable future. This will enable it to develop and sustain its own significant market growth both now and in the future. Wherever we operate, we help our clients to work smarter to deliver great projects and the Middle East is no exception.

What do you see as the main challenges and opportunities in the Arab markets in today’s business climate? Resourcing from the UK, understanding the culture and route to market are the three areas that are seen as challenging. It can be difficult to attract the right calibre of staff at the right level needed to work on some of the more complex projects. Salaries are comparatively the same as in the UK and in some places, such as Saudi Arabia, you have to work in the Kingdom for a year before you are exempt from tax. As far as the different cultures go, what we don’t know we find out and learn in a number of ways. We talk to our peers working out in these countries, embassies, consulates and, of course, the Arab British Chamber of Commerce. continued page 6

ECONOMIC FOCUS CHAMBER NEWS

from page 5

It can also be a challenging business environment to enter for non-Arabic speaking businesses based in Western Europe. Some decide to first establish themselves in Dubai whereas others use UKTI trade missions as a vehicle. Working with the ABCC is another option as well as following an existing client into the Middle East marketplace to meet its needs. The big opportunity out in the Middle East is the huge social requirements for infrastructure. The region has a growing population with 50% of its inhabitants being under the age of 20. The Middle East has to invest in its own marketplace to meet the needs of the populace.

Looking ahead, what do you see as the new emerging trends in your industry in the future? The emerging trends in the property and construction marketplace are focussed on the development of the infrastructure. Defence, roads, airport, hospitals and public transport systems are all planned. There are entire towns and cities being built in Saudi Arabia. Rider Levett

Zayed National Museum

Bucknall has significant experience in all these areas and is already playing a substantial role in helping the Middle East countries to meet their needs.

Describe any new initiatives that Rider Levett Bucknall may be planning to introduce in the Arab markets. In Saudi Arabia we are planning to increase the number of young Saudis we attract to the company and give them training. This forms part of our corporate social responsibility commitment which includes attracting the right sort of employees and helping them to develop through learning and development initiatives which are all tailored to different life and career stages.

Feel free to comment on any services that your company has received from the ABCC. We regularly call upon the Chamber to train our staff in the culture of the Gulf

States, especially Saudi Arabia, where we often have surveyor and project managers, either visiting for a few days, staying for a few weeks or posting out there for a few months to help on a particular project.

How does the company benefit from membership of the ABCC? I would strongly recommend the networking events and the conference facilities that the Chamber offers at its London office. Our greatest benefit is generated by the cultural awareness training programme as already mentioned. This really is invaluable to Rider Levett Bucknall.

Is there any final message that you would like to leave with our readers? Local is now global and the Middle East is rich in opportunity. There are a number of routes to market and an even higher number of professionals on hand to help organisations enter the marketplace. With an open mind, a

ARAB-BRITISH CHAMBER OF COMMERCE

willingness to learn and the expertise to make a difference to those countries that need it, there is work out there. Iâ&#x20AC;&#x2122;m happy to chat to anybody to see if I can be of help.

King Fahad Medical City Riyadh

Rider Levett Bucknall is a member of the Arab British Chamber of Commerce.

CONTACTS Lance Taylor may be contacted at: lance.taylor@uk.rlb.com www.rlb.com

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ECONOMIC FOCUS CHAMBER NEWS

Why Saudi Arabia isn’t just another export market Four reasons why Saudi Arabia isn’t just another export market - and how UK businesses need to change in order to succeed there. Terry Mahoney, Head of Capability Saudi Arabia, Selex ES, looks at the challenges and possibilities in the new economic climate in the Kingdom. With strong historical bonds going back more than 85 years, Saudi Arabia is one of Britain’s most attractive export markets for high-tech products. But with Saudi government policy emphasising home-grown jobs and development, UK firms can no longer approach Saudi Arabia as they have done in the past. Exporting products from the UK is no longer enough. That said, with the right approach, there are still huge opportunities for UK business in Saudi Arabia.

dramatic evolution and what are the implications for UK business?

Reason 1: The ground rules have changed

However, this strategy ultimately proved

Saudi Arabia has moved up seven places to rank 21st in the World Economic Forum competitiveness report and aims to be in the top 10 within a decade. Unlike in the UK, where the business environment tends to evolve more gradually, Saudi Arabia has seen unprecedented change in a comparatively short period. In the last three years the Kingdom has risen from 67th to 23rd position in the World Bank’s Ease of Doing Business Index and is placed first in the Middle East. Deloitte’s 2013 Global Manufacturing Index report, meanwhile, ranked Saudi Arabia at 34 and improving. So what is behind this

To find the answers, it is first of all important to look at exactly how the business environment in Saudi Arabia has developed over the years. Back in the 1980s, the approach of the Saudi government was one of creating jobs and bringing technology into the country via the Economic Offset Programme (EOP) – essentially a set of subsidies for international businesses willing to work in the Kingdom.

unsustainable; when subsidies were removed most companies became non-competitive and employment offered by EOP companies was largely temporary. Ghassan A Al-Shibl, CEO of Saudi firm AEC, commented that, “Many companies are focused on a projectbased employment strategy that leads to large fluctuations in hiring and firing,” according to ‘The Report: Saudi Arabia 2012’, Oxford Business Group, p.46. Given these results, the Saudi Arabia General Investment Authority (SAGIA) took over EOP governance in 2000, determined clearer international offset requirements and evolved a more focused investor-friendly approach. In 2010 the 9th Development Plan aimed to further build on this and, by investing in infrastructure, education and healthcare, sought to combat the problem of low Saudi labour participation due to a lowwage expatriate structure in the private sector and poor education levels in the rapidly growing youth population. The result of all this investment today is that it is now feasible for UK companies to both locate in Saudi Arabia and hire Saudi workers. On the other side of the coin, it is becoming increasingly difficult for foreign companies to simply export products to Saudi Arabia - SAGIA is currently considering increasing offset requirements for government contracts to 60% knowledge transfer with mandated use of private Saudi companies. This is forcing UK businesses to change their approach. To give an example, the Saudi scientific community has encouraged international collaboration and knowledge transfer with world-class

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Riyadh Saudia Arabia

international technology companies. The pace of the King Abdulaziz City for Science and Technology (KACST) Badir incubation programme is increasing and, in 2010, it spun off advanced manufacturing hi-tech companies with two clients, Biotech was launched in 2010, Nanotech followed in 2011 and Energy is in progress. The aim is to launch over 80 incubators by 2020 to create 20,000 new hi-tech jobs. “What this all means is that the old way of doing business in Saudi Arabia is over,” said John Hymns, Vice President of Sales and Marketing for Saudi Arabia at Selex ES. “To grow business in the country today you need to create new routes to market and demonstrate a long-term commitment to the Kingdom. Partnerships with Saudi companies and joint ventures are crucial to penetrating the Saudi market and it is also likely that in the future the Saudi government may mandate that national procurement is directed only through Saudi companies. It’s all about taking a collaborative approach.”

Reason 2: International collaboration in hi-tech R&D growth is more valuable to the UK than transfer of assembly work The UK government, driving an export led recovery, stated in the 2012 budget that its intention is to double UK exports to £1 trillion by 2020. With this in mind, the Department for Business Innovation and Skills is actively encouraging UK Small and Medium Enterprises (SMEs) to export into Saudi Arabia and other high growth markets through large internationalised UK companies. However, since the UK cannot simply sell and export products into the country as it has historically done, it now has to leverage its international competitive advantage as a hi-tech knowledge source. Terry Mahoney, Selex ES’s Head of Capability in Saudi Arabia, says, “We’re actively engaged in knowledge transfer projects in the Kingdom and have found that it is necessary to think

differently about transfer of technology; hi-tech R&D growth is more valuable than transfer of assembly work. The UK share must be realigned for higher value activities. “Our experience of collaborating with Saudi scientists on civil and defence sensor projects has been good. Bright, enthusiastic young men join our UK R&D teams to transition the technology and set up facilities in Saudi Arabia. However, these scientists are on academic secondment, therefore staff turnover can be high and knowledge may be diluted over the medium term. Companies providing sustained employment will retain knowledge much better – that’s what we are helping to build.” Terry continues, “We are knowledge managers. It’s all about the ‘stickiness’ of the transfer; how well the knowledge is embedded, sustained and exploited within the receiving organisations. This way the transfer is far more sustainable and valuable to both parties.” continued page 14

ECONOMIC FOCUS CHAMBER NEWS

from page 13

Reason 3: Saudi companies are changing their approach As a result of the improvement in Saudi infrastructure and education, local companies have seen a wealth of opportunity and begun changing from distributors of internationally supplied products to hi-tech service providers in their own right. These companies are actively seeking international partners in sectors such as defence and security, encouraged by the Saudi government and incentivised by preferential finance, leading to major multinational industrial groups investing heavily in capital-intensive long-term joint ventures. Kevin Littler, VP Collaborative Programmes at Selex ES, explains, “We are seeing Saudi customers buying from trusted ‘front office’ fellow nationals in joint venture companies operating within a government-supported strategic domain. Strong international partners provide the ‘back office’ operations and marketing support to Saudi hi-tech staff.” To support these Saudi companies, the Kingdom’s National Industrial Clusters Development Programme (NCDP) relies on exporting high volume industrial product to double the manufacturing base, doubling Saudi industrial employment, and hence doubling exports. These clusters include Automobiles, Home Appliances, Plastics, Solar Energy, Water, Power and Metal processed products. Business approaches are clearly sector dependant and flexibility is needed to accommodate market demand fluctuation; one size does not fit all.

Reason 4: UK companies are experienced and equipped to provide enabler services for Saudi export Given all these changes, for companies like Selex ES the future aspiration is clear: partner with these newly developing high-tech Saudi companies and sell outward from the Kingdom. With UK technology companies used to promoting specialist equipment all

Business building in Riyadh

over the world, UK back-office teams are perfectly equipped to support Saudi hi-tech research, design, development and manufacture partnerships and then export the resulting products to the Gulf Co-operation Council (GCC) countries and other international markets.

work. Transfers are best initiated at low Technology Readiness Level (TRL) through joint R&D projects to enable the deepest dialogue and collaboration. The most successful initiatives focus on high potential commercial exploitation or security usefulness.

Some UK companies have already found that enabling technology transfer in the Kingdom can be rewarding, given that they engage at the high value enabling ‘how’ work and avoid the lower value commodity ‘what’ and ‘why’

A few major UK companies are taking this concept even further, developing a ‘home market’ in Saudi Arabia by investing in commercial infrastructure growth and hiring Saudi staff. These companies are building on their existing

ARAB-BRITISH CHAMBER OF COMMERCE

presence delivering equipment support on large installed bases to partially fund the development of Saudi partner companies. This development also includes the training of Saudi nationals - to the benefit of all parties. “Academic theory needs to be supplemented through practical experience,” says Terry Mahoney. “At Selex ES we start by placing the junior Saudi scientists on the company’s standard graduate induction modules and industrial training programme. Our job is to take postgraduate academics and develop them into mature senior engineers with a solid industrial background.”

Conclusion The strategic intent of the government in Saudi Arabia has been consistent over the past 25 years: investment in infrastructure, education, employment and export. Today, Saudi companies are able to build on this investment and are subsidised to shop worldwide for ‘best in class’ hi-tech international partners. With this new business environment, UK firms must change their ways of working from a product supplier to a high-technology enabler. By doing this, UK industry can support the Kingdom’s strategy of moving from an oil producer to a knowledge-based energy economy.

As always there are challenges and opportunities in successfully implementing the new industrialisation model. The question is that now we are on the cusp of technology transfer and export from Saudi Arabia how are partner companies going to respond? International partners sometimes struggle to grasp the value proposition within these asymmetric opportunities given the strict Saudisation rules and the regional market unknowns. Innovative business models could well yield winwin scenarios for UK investors and the people of Saudi Arabia. Selex ES is a member of the Arab British Chamber of Commerce.

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Doing Business in Saudi Arabia By Morris DeFeo, Head of Crowell & Moring’s MENA Practice

Saudi businesses in which foreign capital participation is limited or wholly excluded.

In this article, we examine the limits on foreign capital investment in Saudi companies. Please note that this describes current process. The Kingdom is currently in the midst of revising its corporate and commercial laws, so there may be a number of changes in the future.

Those Saudi businesses in which foreign capital participation is permitted but limited are as follow:

As a general rule, Saudi businesses can be wholly owned by foreign investors. However, there are certain

The first substantive step in establishing an investment vehicle is obtaining the necessary licenses. Only after the necessary licenses have been obtained can the process of incorporating or establishing the investment vehicle begin. A.Foreign Investment License

This is the fourth in a series of articles looking at the legal and cultural issues associated with operating a commercial venture in Saudi Arabia.

I. Limits on Foreign Capital Participation

II. Licensing Requirements

A.Limited Capital Participation

B.Foreign Capital Participation Prohibited Certain business activities are closed to foreign investors, generally for reasons of religion, national interest and public security. Such excluded activities are listed on what is referred to as the “Negative List”, a current version of which can be found on the website of the Saudi Arabian Supreme Economic Council at www.sec.gov.sa.

Business

Maximum % of Foreign Capital Participation

Professional Services

75%

Basic Telecommunications Services

60%

Public or Private (Facilities Based or Non-Facilities Based) Telecommunications Services

70%

Public Mobile (Facilities Based) Telecommunications Services

60%

Private Mobile (Facilities Based or Non-Facilities Based) and Public Mobile (Non-Facilities Based) Telecommunications services

70%

Wholesale Trade Services and Retailing Services

75%

Franchising Services

75%

Insurance and Insurance Related Services

60%

Banking and Other Financial Services

60%

Before a foreign investor can make a capital investment in a new or existing Saudi business, the foreign investor and the other capital participants in the Saudi business must apply to the Saudi Arabian General Investment Authority (SAGIA) for a foreign investment license authorizing the foreign investor’s capital participation in the Saudi business. There are eight types of foreign investment licenses, each for a different type of business. The conditions that attach to each type of license are different from the conditions that attach to each other type of license. The eight types of foreign investment license are: (i) industrial; (ii) commercial; (iii) agricultural; (iv) contracting; (v) real estate development; (vi) specialized services; (vii) non-specialized services; and (viii) consulting. The procedure involved in applying for a foreign investment license is document intensive and time consuming. However, by law, SAGIA must issue a foreign investment license or decline to do so (with reasons) within 30 days from the date of submission to SAGIA of a complete application for a foreign investment license. B.Preliminary License Depending on an investment vehicle’s proposed activities, the investment vehicle might also require one or more additional licenses from Saudi regulators (a Preliminary License). For example, a Saudi business with foreign capital participation providing securities services would need to be licensed by the Saudi Arabian Capital Market Authority; a Saudi business with foreign capital participation providing telecommunications services would need to be licensed by the Communications and Information Technology Commission; and a Saudi business with foreign capital participation engaged in banking would need to be licensed by the Saudi Arabian Monetary Agency.

ARAB-BRITISH CHAMBER OF COMMERCE

License Type

Minimum Capital

Industrial

SAR 1,000,000 (approximately UK£ 174,200)

Commercial

Each foreign investor’s capital contribution must not be less than SAR 20,000,000 (approximately UK £3,484,015)

Agricultural

SAR 25,000,000 (approximately UK£ 4,355,020 )

Contracting

SAR 500,000 (approximately UK£ 87,100)

Real Estate Development

The total project value must not be less than SAR 30,000,000 (approximately UK£ 5,226,024)

Specialized Services

SAR 500,000 (approximately UK£ 87,100)

Non-Specialized Services

SAR 500,000 (approximately UK£ 87,000)

Consulting

SAR 500,000 (approximately UK£ 87,100)

Preliminary Licenses are required in addition to the foreign investment license required from SAGIA and should be obtained before application is made to SAGIA for a foreign investment license.

III. Capital Requirements The minimum capital of a Saudi business with foreign capital participation is determined by regulatory policy, subject to any minimum capital requirements that might be imposed by law. Currently, it is SAGIA’s policy that minimum capital

requirements be linked to the type of foreign investment license being issued, as follows. Where a Saudi business requires a Preliminary License from another regulator in addition to the foreign investment license from SAGIA, the business’s minimum capital requirement will be determined by the other regulator, subject to any minimum capital requirement that might be required by law. It is important to appreciate that SAGIA (or any other relevant regulator) has the discretion to impose higher capital requirements than the minimum capital requirements established by law or stated policy. Crowell & Moring has been working in the Middle East, specifically Saudi Arabia, for many years. We have more than a dozen lawyers located in Riyadh and Cairo. In Saudi Arabia, we operate in collaboration with Al-Enizy & Associates, one of the leading local law firms in the Kingdom. Through our association with Al-Enizy, we understand both the legal and cultural issues associated with business ventures in Saudi Arabia.

You expect your lawyers to be smart... But what about creative?

Crowell & Moring is proud to be a member of the Arab-British Chamber of Commerce

ECONOMIC FOCUS CHAMBER NEWS

Preventing obesity and diabetes

Keith Hackett, Co-founder of New Health Economics, a member of the ABCC, shares his experience of a recent visit to the UAE at the invitation of the Dubai Health Authority. Purpose of Visit 1. To try to understand first-hand the problems of obesity, diabetes and associated diseases from a local perspective.

under the patronage of H H Sheikha Fatima bint Mubarak which has been highly praised by UNICEF.

2. To explore further the conversations that New Health Economics has been having with the DHA since mid-2012 concerning an innovative preventative health management programme developed for the purpose of reducing the incidence of Type2 diabetes.

On a personal level, I had arranged to meet up with an Arab associate from London who was visiting his parents at Jumeirah Beach Residence (JBR). With their assistance I was able to talk to other family members and their friends. I discovered first-hand about the destructive nature of obesity and diabetes not just on individuals but also their families. I would like to share one such story:

First Impressions

Youssef’s Story

It was the first time I had visited the UAE and even though I have worked with Middle East clients for more than five years and travelled extensively, both East and West, I can honestly say that Dubai is a city that makes you say “wow”!

I spoke with Youssef, a 15 year old, who told me this story (paraphrased):

Reflections of Meetings on Professional and Personal Levels Meetings with the DHA and Sharjah Health Authority (SHA) clearly demonstrated the exceptional health systems in place, specific to the local populations. The commitment to curative healthcare management almost goes without saying and pro-active programmes addressing obesity and diabetes are hitting world headlines. One example is the General Women’s Union anti-obesity programme introduced

“My dad, who’s only 39 years old, is really concerned that he’s going the same way as my grandfather. He told me that the doctor said he must change his lifestyle otherwise he will be as sick as grandfatherwho is blind and had his right foot amputated a few years ago because of the diabetes he suffers;our family is full of diabetics and many suffer with the physical effects of diabetes and other diseases linked to it. I know that we’re all a bit fat but then again nearly everyone I know is the same. The thing is we eat what I think is pretty normal stuff and it’s really difficult to know what and even how to change. Everyone talks about the Western disease and for quite a while I didn’t know what it meant, until I read some stuff on the internet about it. But it’s so easy to suffer from it - everywhere you

go it’s “McD this” or “Wendy that”…do you know Keith there’s even a sandwich bar called “PotBelly”! I mean...!! And anyway, my friends and I hang-out there and it’s so easy to pick and nibble. “Anyway dad wants us to change what we eat and do. But he doesn’t really know howto and mum does all the food stuff and I don’t see her changing what she buys and where from any time soon. The doctor gave him leaflets, websites and all the facts which of course are useful and he’s set-up regular check-up dates. Dad wants us all to go along, the doctor is ok about this, but I’m not really keen. I know that I should but I don’t want to know about how poorly mum and dad might be, it’s upsetting. “We’ve started talking about diabetes more at home; at one time we never did, it wasn’t something you did. They do ask me what I want to do and eat but honestly I just don’t know. Yes I should swim or ride a bike, but I want to do it for fun not because someone tells me that I have to. To be honest it’s all a bit awkward and I know what will happen anyway. We’ll all be “healthy” for a few months and then just go back to what we’re doing now. We get the same thing at school – everyone’s talking about being overweight, diabetes, what it means and all that. It’s almost like another subject to learn and sometimes it’s really boring. I would like to be a bit thinner and play more sport but I’m not going to do it on my own. If my friends don’t want to play soccer or something, I’m not going to go out and get new friends. I’m going to do what they do and anyway nearly all the stuff we do is online. “You can do almost anything and go anywhere. And you “meet” so many more people. I have over 400 Facebook friends! We share everything; actually it’s easier to share online than in person. I’ve asked my FB friends about diabetes and getting fitter – some of the stuff that comes back is really interesting because it’s personal and I can relate to it. I don’t know what I’m going to do about dad’s idea of us all going off to the doc.” Youssef left me with the impression that he and his friends are very aware of their health, more so in fact than children of his age group in the UK. He also left me with the impression that despite the tremendous efforts and work undertaken by government, health professionals and educationalists, that an opportunity is being missed to engage and converse with the youth as a whole, vibrant population.

ARAB-BRITISH CHAMBER OF COMMERCE

Connecting People and Their Ideas Back in London

How to Start?

On my return to London, I and colleagues at New Health Economics considered what had come out of my first meetings and concluded that our experience of consumer insight, engagement, health and health economics could be utilised to great effect. Subsequent and ongoing meetings with theMr Jamal Abdulaziz Nasser Alowais, the UAE Medical Attaché in London,confirmed our own thinking.

It is to today’s innumerable virtual communication networks,offeringall people a potent and sustainable voice on a scale never previously imagined, that we must turn in order to join in “the conversation”; for it is interaction, dialogue and exchange that will help us construct the framework for positive change.

Consider what Youssef had said,“… most of my spare time is spent chatting online…” He also said that he wants to change but “…if my friends don’t want to play soccer or something, I’m not going to go out and find new friends…”and that “…we share everything; actually it’s easier to share online than in person…” Three key messages that came out of Youssef’s story reflect not only New Health’s own findings about youth and the new media revolution, but also evidence from the wider global social information community: 1. The strength and influence of the online community; 2. An online 24/7 interconnected generation; 3. The desire to change but not, directly, the power to effect change.

During the last two years, evolving and increasingly accessible technology has enabled the growth of these channels and it is children and young people who are making the most of its capability and capacity. Knowing how children and young people communicate in the virtual world is essential because when they are not physically with their friends or family, many of the channels identified in the diagram below ensurethat they remain connected. Youssef is a case in point. By leveraging these channels and the synthesis of existing clinical, educational and commercial activity, health and wellbeing, behavioural nudging can be achieved.

How to Develop and Realise the Conversation? Knowing what’s available and how to use these channels to really engage is one thing, but taking this to the next stage

of nudging health behaviours, is quite another. New Health Economics has looked at this and considered that the creation of a consumer-led digital community aimed at helping each member achieve their own health management and diabetes-prevention goals - delivered via entertainment, participation and shared experiences - can be realised in an 18-month period. We believe that this is likely to be achieved through a five keystage process: 1. Barriers and enablers identified by all stakeholders; 2. Identify potential media, social and commercial allies; 3. Launch youth wellbeing digital forum; 4. Aggregate feedback, opinion and declared needs; 5. Launch pilot programme build around aggregated findings. For more information about New Health Economics please look at our website www.newhealtheconomics.com or contact Keith Hackett through the ArabBritish Chamber of Commerce.

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ECONOMIC FOCUS CHAMBER NEWS

Doing Business in Bahrain

Bahrain’s Economic Development Board outlines the benefits of doing business in the Kingdom. The Middle East region continues to attract global professional services companies, most of whose regional headquarters are based in the GCC countries. The combined GDP of the GCC is currently $1.4 trillion per annum and is expected to reach $2 trillion by 2020. Despite the global recession, the GCC common market remains one of the fastest growing economic areas in the world with GDP growth of 8% in 2011, driven partly by rising hydrocarbon incomes and estimated growth of 5.5% in 2012. Bahrain remains committed to providing business opportunities for professional services firms that can cater to the GCC’s rapidly developing needs. Recent development and reform programmes have produced, among other things, the most skilled workforce in the region, advanced infrastructure development and industry diversification, a trusted and transparent legal and regulatory environment, the most liberal business environment in the region, low costs and competitive taxation.

Bahrain offers the following advantages to international firms:

Competitive costs

Free movement of capital, profits or dividends

It boasts the freest economy in the Middle East

Ease of doing business

100% foreign ownership of business assets and real estate

No corporate or personal taxes and very few indirect taxes

Bahrain has been recognised internationally for its ease of doing business and economic freedoms by the following respected global organisations: l

In the 2013 Index of Economic Freedom, Bahrain scored 75.5 (out of 100) making its economy the 12th freest in the world, and the 1st of the 15 countries of the Middle East/North Africa region. The index identified Bahrain’s commitment to structural reforms and openness to global commerce as the principal advantages that have led the Kingdom to become a financial hub and regional leader in terms of economic freedom.

According to KPMG’s “Succeeding in a Changing World” survey of 1,500 executives across 22 European, Middle Eastern and African countries, Bahrain is a ‘regional trailblazer’ with ‘the GCC’s most open economy’. The report also noted that Bahrain’s comparative lack of hydrocarbons has led to its status as one of the Gulf’s most ‘financially forward thinking’ countries.

KPMG also concluded that Bahrain has one of the lowest costs of doing business in the GCC region, with the average employment cost of hiring an employee in Bahrain, incorporating occupation costs, average wages, house rent allowances and other expatriate benefits, being significantly lower.

Bahrain ranked 25th out of 62 countries, and 2nd in the GCC in the World Economic Forum’s Financial Development Report noting high rate of financial access (ranked 7th) strong business environment (ranked 16th) and a high degree of financial sector liberalisation (ranked 15th). Bahrain also ranked 1st overall in banking system stability and very high (ranked 2nd) in terms of the tax sub-pillar.

Manama has been ranked one of the top 50 low risk cities in the world by Aon Hewitt’s People Risk Index, the global leader in risk assessment and evaluation. The index measures the risks organizations face with recruitment, employment and relocation across 131 cities globally by assessing 30 critical factors impacting

A Secure & Stable Environment l

Freely convertible currency pegged to the US Dollar

Equal treatment of domestic and international companies

Mature legal framework and internationally compliant practices

Excellent Connectivity l

Strategic location in the Middle East and proximity to Saudi Arabia and Qatar

World-class telecommunications infrastructure

More than 65 bilateral agreements on trade investment and the avoidance of double taxation

Free Trade Agreement with the USA

High Quality of Living l

Welcoming attitude towards expatriates and their families

Comparatively low cost of living

An Attractive Business Environment l

Global Reputation

ARAB-BRITISH CHAMBER OF COMMERCE

Bahrain Financial Harbour

people risk by location. Bahrain is ranked higher than many of the world’s leading business centres such as Beijing, Shanghai, Kuala Lumpur, Rome, and Moscow. l

Bahrain was ranked 42nd globally with regards to ease of doing business in the World Bank’s 2013 Doing Business survey.

Bahrain jumped two places to be ranked the 35th most competitive country in the world with a score of 4.63 out of 7 according to the Global Competitiveness Report 2012-2013 produced by the World Economic Forum.

Bahrain ranked 3rd regionally and 41st globally on its innovation performance, moving steps ahead since 2011, according to the Global Innovation Index 2012 published by INSEAD eLab and the World Intellectual Property Organisation (WIPO). According to the 2013 Human Development Report issued by

the UNDP, Bahrain is among the world’s “High Human Development” countries. The report examines the shift in global dynamics driven by the fast-rising new powers of the developing world, and its long-term implications for human development. Between 1980 and 2012 Bahrain’s HDI rose by 1% annually, which gives the country a rank of 48 out of 187 countries. The HDI of Arab States as a region increased from 0.443 in 1980 to 0.652 today, placing Bahrain above the regional average. Information for the above is obtained from EDB, May 2013

Type of Business Entities in Bahrain There are a range of options for anyone seeking to set up business in Bahrain. General Partnership Company As outlined by Al Mezan Bureau, a correspondent of RSM International, a general partnership must be comprised of two or more Bahraini nationals;

foreign investors can participate in partnerships, but Bahraini national participation must be at least 51%. In a partnership, the liability of the partners is unlimited, and they are jointly and severally liable with respect to the partnership’s obligations to the entire extent of their assets. The name of the partnership must consist of the name of one or more of the partners adding thereto the words “& Co.” or an indication that a partnership exists. Limited Partnership Company A limited partnership is comprised of at least one general partner and one limited partner. The extent of a limited partner’s liability for the partnership’s commitments is restricted to the amount of capital invested by the limited partner in the partnership. A limited partner may not participate in the management of the business and if this is done, the limited partner will be jointly and severally liable for the partnership’s liabilities in the same way as the general partners. All general partners must be Bahraini nationals and at least 51% of the capital must be owned by Bahraini partners. continued page 26

ECONOMIC FOCUS CHAMBER NEWS

from page 25

Association in Participation (‘Joint Venture’) Also known as a joint venture, an association in participation, is a company that does not enjoy a separate legal personality. Joint ventures are formed by the conclusion of a Memorandum of Association specifying the rights and obligations of the partners and the division of proﬁts and losses. Joint ventures are not subject to any prescribed formalities. Joint Stock Company A joint stock company is a pure shareholding company in which all of the members are liable for company debts to the extent of the nominal value of their shares. This type of company can take the form of an exempt joint stock company, a closed joint stock company or a public joint stock company. While the public joint stock company requires a minimum of 51% Bahraini ownership, the exempt and closed joint stock companies may be 100% foreign owned. All forms of the joint stock company must maintain permanent ofﬁces in Bahrain. Public stock companies may only be established by permission from Ministry of Commerce. Seven founding shareholders are required in order to establish a public stock company. Together they must subscribe for between seven and 20% of the shares of the company. Closed stock companies are formed in the same manner as public stock companies. Five founding shareholders are required to establish a closed stock company. The minimum share capital of a closed stock company is BD 250,000.

Limited Liability Company The limited liability company, a shareholding company in which the shares are not open to public subscription, is one of the forms of doing business most commonly used by foreign investors. The company must have at least two and no more than ﬁfty shareholders who are liable for the debts of the company only to the extent of their respective interest in the capital. At least one shareholder must be a Bahraini national, and the total shareholdings by Bahrainis may not be less than 51%. The words “With Limited Liability” must follow the name of the company. Limited liability companies may not engage in banking, insurance or brokerage activities. Single Person Company A single natural or corporate person, Bahraini or non-Bahraini, may incorporate a one-person company. The proprietor of the capital of the company shall not be liable except to the extent of the capital allocated for the company. The minimum capital requirement for the establishment of this company is BD50,000, and the owner’s liability is limited to the said amount. The company may be managed by the owner of the capital or by a Manager. A single person company shall not undertake insurance or banking activities or the investment of funds for the account of third parties. The company may not be established or its capital increased or borrowing made for its account through public subscription. The company may not issue negotiable shares or bonds of any kind. The owner of the company’s capital shall separate his own ﬁnancial account and

the company’s capital. The incorporation formalities of a one person company are similar to that of a W.L.L. company. Holding Company A holding company is a company that is incorporated to own shares in Bahraini or foreign, joint-stock companies or limited-liability companies. A holding company is permitted to own more than 50% of the capital of its subsidiary, and it may take the form of a joint stock company (public/closed), limited liability company, or single person company. Foreign Investment Entities A foreign investor may operate as a limited liability company, single-person company, closed joint stock company, branch ofﬁce, regional ofﬁce, or holding company. The choice of legal vehicle is based on the size of the company and investors’ requirements. One hundred percent foreign ownership is permitted in certain circumstances and for certain activities. Otherwise, foreign ownership may be limited to 49%. Examples of sectors open to 100% foreign investment include technology, tourism, healthcare, education, manufacturing, and business services.

Limited Partnership by Shares A partnership limited by shares consists of at least one general partner and at least ten shareholders. Management is the responsibility of the general partners and they are liable, to the extent of their entire assets, for the debts and commitments of the partnership. The shareholding partners are not responsible for the debts of the partnership, except to the extent of the value of their shares in the partnership. Shareholding partners may not interfere in the management of the partnership, and if they do so, they are personally liable for losses caused as a result thereof.

INFORMATION For detailed information about the options for setting up a company in Bahrain see the Ministry of Industry and Commerce www.moic.gov.bh/MoIC/En/MoIC+Centers/BahrainInvestorsCenter/ Commercial+Registration/SelectionofLegal+Structure/

Useful Links l

Ministry of Industry and Commerce www.moic.gov.bh

Bahrain Economic Development Board www.bahrainedb.com

ARAB-BRITISH CHAMBER OF COMMERCE

ADVERTORIAL

Setting up Business in Bahrain

Why Bahrain? Whilst it’s the smallest of the GCC states (comprising of Saudi Arabia, Qatar, Kuwait, Oman, the UAE and Bahrain), Bahrain is considered to be in the world’s top 10 most economically free nations according to the annual Index of Economic Freedom, published by The Heritage Foundation and Wall Street Journal. Its easy access to the GCC market, the simplified business environment, established legal framework, and competitive costs, make doing business in Bahrain a breeze compared to its neighbouring countries. Investment in Bahrain is continuing to grow at a steady rate specifically with expenditure in infrastructure projects and the oil and gas industry. For example, as has been announced publicly, Bahrain has recently allocated BD45million ($118.6 million) for ongoing information communication technology (ICT) projects for ministries and government organisations. PRIME Instant Offices & Business Centre has been actively supporting foreign investment in Bahrain for almost a decade pioneering its comprehensive range of business support services aimed at companies setting up and operating here. Locally owned, with superior local knowledge and expertise, PRIME provides the essential services companies are looking for when first setting up in a new country. As an Affiliated Partner of the Bahrain Ministry of Industry and Commerce, and associated with one of Bahrain’s leading law firms, Zu’bi & Partners, PRIME processes company registration and renewals, and many other corporate

legal services with international service levels and efficiency. Its competitors simply can’t match their breadth of business and office services. PRIME is simply much more than a Business Centre…

All you need to get your company or yourself up and running 1. Company registration, renewal and changes to company legal status PRIME can advise you on the best type of company to register, manage the new company registration, process share transfers, organise trustees and nominees, corporate securities and even liquidation, if that’s what’s required. 2. Provision of Serviced Offices All offices come with their own Ministryapproved and required registered office address, they all are ready to occupy with workstations, executive chairs, direct dial telephones and WIFI. There are no setup costs. You will have 24/7 access to your office with your own office key and a secure front door key code. There’s 24/7 security and a receptionist on each floor during business hours to greet your visitors. Reception will also handle daily incoming calls, as well as incoming and outgoing mail and faxes. 3. Bahrain Visa Services For most foreign nationals, including those from the UK, US, Australia and the EU, working in, living in and visiting Bahrain requires a visa. There’s a wide variety of visa types issued, depending on the purpose of the visit, length of stay and most Bahrain visas, whether

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PRIME provides outsourced services covering all of the administrative functions of a company and can also provide you and your company with much needed support and advice on how best to manage your business in Bahrain. Contact them on +973 1757 0400 or see their website for more information www.primeinstantoffices.com

Inspired for more than 40 Years HLB International is a worldwide network of independent professional accounting, audit & tax and business advisory firms. Formed in 1969, HLB International is a leading global network with member firms well-established locally. Inspired Services HLB International’s member firms provide services such as Accounting, Audit & Assurance, Business Recovery, Business Structuring, Corporate Finance, Forensic Accounting, National & International Tax, Joint Ventures, Risk Management and more. Inspired for Quality As a member of the Forum of Firms (association of 23 international accounting networks part of the International Federation of Accountants), HLB International is committed to the highest quality standards. For more information: www.hlbi.com

“HLB International has a very well established presence in the Middle East and North Africa where we count member firms whose dynamism and quality we are proud of. MENA is a part of the world where we definitely have great expectations for the coming years with our member firms offering excellent services to both their local and international clients.” Rob Tautges, CEO HLB MENA is in Abu Dhabi - Bahrain - Dubai - Egypt - Gaza - Jordan - Kuwait - Lebanon Morocco - Tunisia - Saudi Arabia - Yemen

CONTACT Lina Rashed Communications & PR Email: lr@hlbi.com Tel: +44 (0)20 7881 1100

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HLB Hamt, Servicing international clients in Dubai

2011

Fujairah 2009

JAFZA 2008

Abu Dhabi 2007

SAIF

HLB Hamt, a member of worldwide audit and accounting network HLB International, is a leader in business incorporation in the UAE with successful formation of business for more than 1000 clients in all types of entities including free zone, offshore and LLC. The firm, established in Dubai in 1999, has grown rapidly and now comprises more than 130 staff in offices in Dubai, Abu Dhabi, Sharjah, Jebel Ali Free Zone, SAIF Zone, Ras Al Khaimah Free Zone, Fujairah and Hamariyah Free Zone. HLB Hamt services major international clients such as IBM, LG, Chevron Phillips, Michelin, ArcelorMittal and Panasonic among others, offering a full spectrum of business consultancy services including Audit & Assurance, Payroll & Accounting, Business Incorporation, Business Valuation and Business Consultancy. HLB Hamt is a registered Audit Firm under UAE’s Ministry of Commerce. The firm aims to become one of the leading Audit and Advisory firms in Middle East, and according to John Varghese, Managing Partner of HLB Hamt, “this is a role we will achieve with the support of HLB International. We have already opened offices in seven emirates of UAE and plan to open offices in Qatar and Oman in the near future”.

2006

HLB Hamt’s strategy is based on cost reduction, process improvement and process automation with improved turnaround time and service quality, with up to 60% reduction in back-office costs and smooth functioning of day to day operations, enabling clients to focus their time on generating revenue and acquiring new clients.

2006

“We use our experience and expertise to help our clients for their betterment and assure that every venture is a success” says Mr. Varghese. “We are confident in our future growth and in the continued attractiveness of Dubai, who is now benefitting from the Arab Spring insofar as it appears to be a political and financial safe haven to investors and tourists”.

RAK

Sharjah 2003

The benefits of starting an offshore company in the UAE A “tax-free” business territory, UAE is one of the best jurisdictions in the world for incorporating an offshore company.

Dubai

What makes an offshore company in UAE unique? 1999

n UAE is an independent or ‘overseas’ territory and is white-listed n UAE has Double Taxation Avoidance Agreements (DTAAs) with several countries -currently more than 40. What are the benefits of UAE offshore companies? n 100% foreign ownership is allowed n No necessity to find a UAE national as shareholder or sponsor n No public register of company officers n Complete anonymity and privacy n Companies can own real estate properties in approved areas n Possibility to hold multi-currency bank accounts n Exemption from all corporate and income taxes n No foreign currency restrictions n Full repatriation of the profits and capital allowed n Low setting-up costs n No onshore office and accordingly, no employees and related costs

CONTACT John Varghese Managing Partner Email: john@hlbhamt.com Tel: +971 4 32 77 77 5

n Only minimum capital is required to set-up an offshore company n Minimum of one Director / Shareholder

ECONOMIC FOCUS CHAMBER NEWS

Important Changes to the Taxation of UK Property for Non-UK Residents By Ray Smith (Tax Partner) and Chris Waddington (Tax Associate), Clyde & Co LLP

The UK Government has made a number of recent changes to the taxation of UK residential property. Special rules now apply to individuals who use companies (and other structures involving “non-natural persons”) to hold their UK residential property where the property is valued at more than £2 million; being so-called ‘high-value residential property’. These rules are aimed at wealthy investors, particularly non-resident or non-UK domiciled individuals. The rules are particularly relevant in respect of residential property in London, where it is often the case that even a comparatively small property can be above this £2 million threshold if it is located in one of the exclusive areas of the city. Specifically, the special rules apply to residential property acquired or held by a “non-natural person”. A nonnatural person is a company (either UK or overseas); a collective investment vehicle; or a partnership in which one or more members is a company. However, some corporate entities are not counted as a ‘non-natural person’. These include a company acting as a trustee of a settlement; companies acting as nominee for the beneficial owner who is an individual; and bona fide property development and investment companies. The main changes, as explained further below, are in respect of Stamp Duty Land Tax, the new Annual Tax on Enveloped Dwellings, Capital Gains Tax and Inheritance Tax.

Stamp Duty Land Tax (‘SDLT’) charges SDLT is a tax payable on land transactions, such as the purchase of a freehold or leasehold interest or the grant of a new lease. The rate of SDLT payable on the purchase of property (freehold or leasehold) depends on whether the property is residential, commercial or a mixture of the two. In relation to residential property, if the purchaser is an individual, the rate of SDLT varies depending on the consideration paid for the property and can be up to 7%. However, a non-natural person has to pay a higher rate of SDLT when it purchases UK residential property costing more than £2 million. The higher SDLT rate is 15%, compared to the 7% standard rate for individuals (mentioned above) in relation to the same property.

The purchase of a company already owning a residential property will only give rise to a stamp duty charge of 0.5% of the purchase price and no SDLT charge. However, the recent changes have introduced new tax charges which are intended to apply to companies holding UK high-value residential property and to discourage individuals from holding such properties through non-natural persons.

Annual Tax on Enveloped Dwellings The annual tax on enveloped dwellings, or ‘ATED’, is a new tax charged every year on residential property valued at over £2 million held by a non-natural person. The amount of ATED will depend on the value of the property on 1 April 2012 (or its subsequent purchase or disposal price). The table below shows the different bands: Property value

ATED 2013-14

The table below sets out the current rates of SDLT for residential property:

£2m - £5m

£15,000

£5m - £10m

£35,000

Property Value

SDLT rate

£10m - £20m

£70,000

Under £125,000

£20m+

£140,000

£125,001 - £250,000

£250,001 - £500,000

£500,001 - £1,000,000

£1,000,001 - £2,000,000

£2,000,001 +

£2,000,001 + owned by non-natural persons

15%

The first ATED charge arose on 1 April 2013 and a return must be made and the tax paid to HM Revenue & Customs by 1 October 2013 (or, if later, within 30 days after the acquisition of the property). From 2014 onwards, the return will be due and the tax payable on 30 April each year (or, if later, within

30 days after the property is acquired). The amount of the annual charge will be index-linked (to the UK Consumer Prices Index). However the ATED property value thresholds will remain unchanged. This means that over time, assuming the average value of UK property rises, more properties will become subject to the ATED charge and at increasingly higher amounts. If a property is acquired part way through a year (running from 1 April to 31 March) the amount of the charge will be adjusted to reflect the period of ownership. If the property is sold, a relief claim can be made in respect of the part of the charge which relates to the period after the sale.

Capital Gains Tax (‘CGT’) If the property is acquired as an investment (and not for development or trading) capital gains tax or ‘CGT’ may be relevant. CGT is chargeable on gains made by UK resident individuals at rates up to 28% (UK resident companies pay corporation tax - currently at the rate of 23% and reducing to 20% by 2015 - on their gains).

ARAB-BRITISH CHAMBER OF COMMERCE

A major attraction for non-UK resident individuals (and non-UK resident companies) who own UK real property is that in general there is no CGT (or corporation tax charge) in relation to a gain on an eventual disposal of an investment property. There may, of course, be a tax charge in the home jurisdiction of the individual or company, but in many cases either a charge will not be levied in respect of an overseas gain, or else the home jurisdiction will be a low or no tax regime. From 6 April 2013, UK and non-UK resident companies (and other nonnatural persons) will be subject to CGT at 28% in respect of gains accruing on the disposal of interests in high-value residential property subject to the ATED. UK companies will be liable to this CGT charge in respect of such disposals rather than corporation tax. However, the good news is that unless an election is made to use the value of the property on an earlier date, only gains or losses on the property arising since 6 April 2013 will be relevant when calculating the charge to CGT.

Accordingly, any pre-6 April 2013 gains will be protected from the new CGT charge.

Exemptions and Relief A number of exemptions and reliefs have been included in the new rules in respect of the higher 15% SDLT rate, the ATED and the extension of CGT outlined above. (The reliefs in respect of ATED and CGT apply from 1 and 6 April 2013 respectively, but the relief from 15% SDLT will apply only from the date when the Finance Bill 2013 receives “Royal Assent”, which is expected to be in late July 2013). These provide relief for UK high-value residential property held by (among others): l

Property developers and traders;

Qualifying rental businesses;

Companies which use the property to provide accommodation for qualifying staff; and

Charitable companies. continued page 32

ECONOMIC FOCUS CHAMBER NEWS

from page 31

property holding structures and preserve the benefit of protection from UK inheritance tax. Of course, restructuring may in certain circumstances be appropriate, so that UK property is not held by a non-natural person. This may avoid the ATED and CGT on post 6-April 2013 gains when the property is sold. However, it is important to plan such restructuring carefully, because as noted above, transferring the UK property from a company may bring it within the UK inheritance tax net.

Note, the reliefs are complicated and where a relief is claimed it will be critical to monitor carefully the qualifying conditions to avoid a claw back of relief.

Inheritance Tax UK inheritance tax (IHT) is a tax that may apply to lifetime gifts and to transfers on death. The maximum rate of tax is 40%. For UK inheritance tax purposes an individual’s worldwide assets will form part of their estate in calculating any inheritance tax liability if they are domiciled in the UK. In the case of an individual who is not UK domiciled, only UK assets (such as UK real estate and UK bank accounts) will be included. A person may be UK domiciled according to case law, or “deemed domiciled” under UK tax law if they have been tax resident in the UK in 17 out of 20 income tax years. From 6 April 2013 tax residence for the deemed domicile test will be determined under a new statutory residence test. In the past, common forms of IHT planning for non-UK domiciles have included: l

Owning UK property through a nonUK company, so one could argue that the relevant asset owned was a non-UK asset, being the shares in a non-UK company. Reducing the value of the UK estate/ property for IHT purposes, by making the UK assets subject to high levels of debt. IHT is charged only on the net of debt value of the estate.

The planning in the first point above may now be far less attractive due to the new ATED charge. The Finance Bill

2013 includes anti-avoidance provisions concerning the treatment of liabilities for IHT purposes, and also a new General Anti-Abuse Rule (GAAR). These changes will render many of the past forms of debt planning referred to in the second bullet above, ineffective.

So, what do the changes mean for existing structures? In spite of the additional tax charges, and depending on an individual person’s circumstances, it may still be beneficial to use non-UK resident companies or other non-natural persons to hold UK residential property, for example as a means of minimising UK inheritance tax. Many non-resident investors have taken the view that the ATED tax charge is outweighed by any potential exposure to UK inheritance tax if they own the property directly and so, for the time being at least, have decided to keep their existing structures in place. For example, the potential UK inheritance tax on a property valued at £6 million is £2.4 million, which is equal to more than 68 years of the ATED tax charge (at current rates). In respect of the extension of CGT to companies (and other non-natural persons), some investors have taken the view that the UK property market may have reached (or almost reached) its peak. On that view, the future increases in value post 6 April 2013 may not be great, in which case the related new CGT charge will also be comparatively low. Accordingly, such investors have been willing to expose any future gains to UK CGT in order to keep their current

It will be prudent in each case to balance the costs of any restructurings and future ATED and CGT charges against the risk of an inheritance tax charge at 40%. In addition, the following factors will need to be weighed in the balance carefully before making any decision as to the appropriate course of action: l

The value of the UK property.

The extent of any gains accrued before 6 April 2013 and the likelihood of future gains.

The life expectancy of the investor.

Whether any other tax charges would be triggered by changes to an existing structure. For example, certain income tax and capital gains antiavoidance provisions may apply.

One thing is certainly clear - non-UK resident investors who hold UK property via companies (or other non-natural persons) must now consider carefully their current UK tax position and, if necessary, take professional advice. Clyde & Co is a member of the ABCC.

CONTACTS For further information contact Ray Smith (Partner) or Chris Waddington (Associate) at Clyde & Co LLP.

ECONOMIC FOCUS CHAMBER NEWS

attractions of london real estate

Economic Focus speaks to Mr Mohamed Abdelwahab, Business Partner, RE/MAX Prestige, a company that has recently joined the Arab British Chamber of Commerce, about how it is changing the way that the residential property business is conducted. What is the history of the company? RE/MAX was founded in Denver, Colorado in 1973 by Dave and Gail Liniger. The RE/MAX concept is a simple one: to create a network for top agents in business for themselves but not by themselves. Agents can receive the maximum possible commission from their transactions under the umbrella of RE/MAX. It was this idea that led to the name, “RE/MAX,” which stands for “real estate maximums.” Resisted initially by the estate agency establishment, RE/MAX has inalterably changed the way residential property business is conducted by empowering the individual agent while still maintaining an important role for the office owner. Along with the Maximum Commission Programme, RE/MAX has sought to maximise the benefits of affiliation by developing an array of support services to enhance the professional development and education of its members. The early support programmes were basic, but all were tailored to the RE/MAX concept. These included such issues as a large company image, management training, system-wide referrals, network communications and conventions.

Services grew over the years, along with an increasing number of offices and agents and regional expansion across the US and Canada. Today, RE/MAX is number one in market share in hundreds of markets across the world, and enjoys a continuous growing presence with over 90,000 agents in more than 6,300 offices in over 92 countries. Competitors have examined the RE/ MAX system and introduced look-alike commission systems. The Linigers, realising that maximum commission is not the only attraction for top agents, went beyond the imitators by creating a comprehensive package of referral network support and state-of-the-art sales and marketing tools, training and education programmes. The RE/MAX organisation added a commercial division as an additional business entity. It expanded its training programmes and developed courses to prepare agents for commercial investment and buyer agency designations. On the technology front, it was the first estate agency organisation to create its own satellite television network, the first to update its international roster daily online, one of the first to set up a site on the World Wide Web (www.remax.com), create a design centre for marketing and sales tools and RE/MAX University for both

classroom and on-demand training and education. The distinctive red, white and blue RE/MAX hot air balloon, first used in advertising in the early 1980s, has become one of the most recognised symbols in corporate America and is rapidly gaining global recognition. The fleet of actual RE/MAX Hot Air Balloons has grown to over 100, the largest “fleet” in the world.

In terms of your current operations, can you mention some of the main markets and where your most recent openings have been made? The main markets that we operate in are the US, Canada and Europe. The most recent openings have been in Kuwait and Qatar. The Kuwaiti residential real estate market is currently in high demand for residential real estate. The real estate market in Qatar is currently booming mostly because of the recent legislative changes that allowed foreigners to buy properties in the country and also due to the increased construction in preparation for the 2022 FIFA World Cup. As far as other potential markets that the company will be looking at in the future, RE/ MAX is looking at the potential to expand in all of Asia, Middle East and Africa.

Turning to the London market, what do you see as the main factors that make the London property market attractive to investors? There are many reasons for focusing on London’s residential property market: l

London proved to be the most popular world city for property investment during 2010 and 2011. The top five were: London $43bn; Tokyo $32bn; New York $27bn; Hong Kong $18bn and Paris $18bn;

Despite the drop in the global housing market during the recent financial crisis, London’s high-end market has remained intact;

Media reports have repeatedly highlighted the large number

ARAB-BRITISH CHAMBER OF COMMERCE

of overseas investors seeking to buy residential property in prime London locations as a safe investment, outside the Euro zone. In 2009 and 2010, over 50% of total property investment in central London was from international buyers; l

Average UK rental yields, in percentage terms, are higher than Germany, France, Switzerland and Russia;

London is considered one of the biggest rental markets; the tenant demand is strong and consistent.

English property law is renowned for its transparency and security;

Prime central London property continues to outperform the UK and London as a whole in 2012 with annual growth for these 12 months increasing to 9.4%.

Consistent capital appreciation over the last 30 years.

What are the main potential disadvantages and challenges in both the commercial and the residential sectors? RE/MAX are in a great position to face any challenges in both the residential and commercial sectors due to the fact we can advertise property on a global scale through our network of sister offices which means more exposure for our customers’ properties to consumers around the world. We are in 91 countries with over 6,300 offices. We advertise your properties on our global web site, global.remax.com, where details and descriptions are automatically translated in over 36 languages and automatically converted into 38 currencies. RE/MAX also prides itself in being the local agent with local expertise. This means that we can assist our local and international customers.

What was your rationale behind the recent opening a branch in the W1 area of London? W1 area is a very fashionable, cosmopolitan and sought after area of Central London. The W1 area is very multi-cultural with a strong

have opened my own real estate RE/MAX office and I have kept my contacts with the Chamber. My initial good experience with the Chamber made me approach it again in order to maximise my network reach.

Middle Eastern community presence surrounding the Edgware Road vicinity. The office has a dedicated team who will be assisting Middle Eastern investors. The office is ideally located as W1 offers a wealth of residential property from new development properties to period houses and impressive mansion blocks. It is an area with a proven history of strong rental demand and capital growth.

Have you attended any Chamber events?

What are the distinctive services that your company can offer to its clients and customers that other companies do not offer?

Yes I have, last month I attended the women’s forum and also attended the opportunities in Tunisia event on 28 June, which was very interesting and met a lot of interesting people. I look forward in attending more events and to exchange businesses. Finally I was very pleased with the number of new people that I met and made contacts with.

RE/MAX Sales Associates are not like other estate agents; they are independent professionals who benefit directly from the effort they put in and the successes they achieve. They offer a personal service to their customers from day one, providing support through every step of a transaction. RE/MAX has a global network with a global reach. RE/MAX has a Global website (www.global.remax.com) with thousands of homes in more than 70 countries and territories in over 32 languages. This allows us to provide our clients with maximum exposure for their property and offers customers looking to buy and rent a property a central place to search for listings. When you choose to work with RE/MAX we will market your property on a global scale. This is a tremendous advantage no other real estate organisation comes close to. We can help our clients acquiring a property with consistently strong rental demand and at a favourable yield, and the other key aspect is to have strong letting and property management in place to ensure maximum rental growth with minimal vacancies

How did you first come across the Arab British Chamber of Commerce? I was the sales and marketing manager for Palm Hills Development office in London selling properties in Egypt. In order to increase the company’s network we have met with the Arab British Chamber and registered with the organisation right away. Two years later I

What are your company’s future plans? Our aim is to provide high and personal customer service in our local area and we have plans to expand over different areas of London with a strong focus to attract top agents. The RE/MAX opportunity is well and truly here and with it comes a unique opportunity, the chance to change the way people think about estate agents forever. The success of RE/MAX around the world has been phenomenal and the aim is to continue the success story in my company.

CONTACTS Mohamed AbdelWahab RE/MAX Prestige mohamed.abdelwahab@ remax.co.uk www.remax-prestige.co.uk

Protecting your best interests in international trade Trade links between the Arab world and the UK are becoming increasingly strong. Whether your business leads on brand identity or technology value, IP is a key element in establishing your position in the marketplace. It is vital that you work with advisers who have the right experience and expertise to protect and value your IP – helping you to exploit its full potential. At Marks & Clerk, our unrivalled resources in Europe, Asia and North America, and long-standing relationships with leading IP firms worldwide, allow us to give you access to a wide range of services nationally and internationally. With the recent addition of Marks & Clerk Consulting to our group, providing consultancy services such as IP valuation, we are able to meet all IP needs through our integrated offering. Our commercial approach combined with local knowledge and expertise enables us to tailor our services to create the most effective IP strategy for your business. From the smallest inventive step to the largest commercial leap, from information technology to biotechnology, we are here to ensure that you get the maximum value and benefit from your IP. To find out how we can help you to determine the value of your IP, please contact: Simon Mounteney, Managing Partner, Marks & Clerk Consulting smounteney@marks-clerk.com Kelvin King, Director, Marks & Clerk Consulting kking@marks-clerk.com www.marks-clerk.com

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ADVERTORIAL

THE VALUE AND MANAGEMENT OF INTELLECTUAL PROPERTY Intellectual capital is recognised as the most important asset of many of the worldâ&#x20AC;&#x2122;s largest and most powerful companies. The foundation for the market dominance and continuing profitability of leading corporations, it is often the key objective in mergers and acquisitions and knowledgeable companies are increasingly using licensing routes to transfer these assets to low tax jurisdictions. However, the role of intellectual property rights and intangible assets (IPR) in business is widely misunderstood and is often under-valued, under-managed or under-exploited, it is pivotal in the process of efficient exploitation and management. IPR valuation and efficient management increases returns on capital, increases stakeholder value and creates ability to make informed decisions and better business strategy.

IPR and the valuation expert The due diligence with Intellectual Property (IP) professionals leading to IPR valuation where it has been formalised through trade mark or patent protection, contrasts with the complexity of due diligence with intangibles such as know how (which can include the talents, skill and knowledge of the workforce), training systems and methods, designs, technical processes, customer lists, distribution networks etc. The valuation procedure is, essentially, a bringing together of the economic concept of value and the legal concept of property. There are four main value concepts: owner value, market value, fair value and tax value. Owner value often determines the price in negotiated deals and is often led by a proprietorâ&#x20AC;&#x2122;s view of value if they were deprived of the property.

The basis of market value is the assumption that if comparable property has fetched a certain price, then the subject property will realise a price something near to it.

incorrectly assumes that there is some relationship between cost and value and the approach and the method ignores changes in the time value of money, as well as maintenance of the IPR.

The fair value concept, in its essence, is the desire to be equitable to both parties. It recognises that the transaction is not in the open market and that vendor and purchaser have been brought together in a legally binding manner.

The preferred method of valuation flows from an estimate of past and future economic benefits and includes an assessment of historic and future profits, gross profit differential methods (often associated with trade mark and brand valuation), excess profits methods (whereby return over and above profits from net tangible assets is calculated) and relief from royalty (a calculation adapted from licensing of similar IPRs).

Tax valuation has been the subject of case law worldwide since the turn of the last century and is an esoteric practice. There are quasi-concepts of value which impinge upon each of these main areas, namely, investment value, liquidation value, and going concern value.

Methods for the valuation of IPR There are three broad categories into which methods of the valuation of identifiable intangible assets and IPR fall: market-based, cost-based, or based on estimates of future economic benefits. Ideally, an independent expert will always prefer to determine a market value by reference to comparable market transactions. This is difficult enough when valuing assets such as bricks and mortar because it is never possible to find a transaction that is exactly comparable. In valuing an item of IP, it becomes even more difficult, not only due to lack of compatibility, but also because IP is generally not developed to be sold and many sales are usually only a small part of a larger transaction where details are kept extremely confidential. Cost-based methodologies, such as the cost to create or the cost to replace,

Discounted cash flow analysis is viewed as the most comprehensive of appraisal techniques and sits across these methods.

The need for expertise As we have explored, there are several different valuation methods for IPR, but each requires careful due diligence conducted by an expert.

CONTACTS Kelvin King, Director of M&C Consulting kking@marks-clerk.com

ECONOMIC FOCUS CHAMBER NEWS

ARAB-BRITISH CHAMBER OF COMMERCE

Assalaamu Alaikum The blessed month of Ramadan is upon us, where Muslims all over the world unite to strengthen their relationships with the Almighty. This is a crucial time to be part of change, and an opportunity to transform the lives of those less fortunate than ourselves. As conflicts and natural disasters are rife around the world, our focus is to revive hope and reach out to the world’s most vulnerable and poorest communities. From helping the Rohingya community in Myanmar to supporting those caught up in the crisis in Syria, Muslim Aid’s commitment is to be at the forefront of delivering emergency aid and long-term development and sustainable projects wherever needed.

and disasters in Syria, Myanmar, Mali and Gaza. With your support, our aid has included providing food, shelter, education and much needed healthcare. As this blessed month of mercy and charity approaches, let us once again share our happiness and blessings with many thousands of vulnerable people across the world. We pray to the Almighty God to accept our fast, prayers and charity and bring unity, progress and prosperity for the betterment of mankind. Wassalam & Ramadan Mubarak, Dr Manazir Ahsan Chairman

This year, our emergency campaigns have extended to the refugees and internally displaced people caught in conflicts EmergencyAppeal R13 Myanmar.pdf 1 12/07/2013 12:45:39

Myanmar Emergency.

CMY

The recent outbreak of violence has displaced 100,000 Rohingyan’s leaving them without food, shelter and clean water. With lives shattered and a future uncertain, many need vital support. This Ramadan provide a lifeline to those affected by the conﬂict in Myanmar with food and essentials to help them get back on their feet.

Donate now

muslimaid.org | 020 7377 4200

Muslim Aid PO Box 3 London E1 1WP / Charity Reg: 295224

MuslimAid @Muslim_Aid MuslimAidUK

education and skills A SPECIAL REPORT

ECONOMIC FOCUS CHAMBER NEWS ADVERTORIAL

Life changing partnerships

and internationalisation? And how can they overcome the snobbery of societies that view vocational education – other than that which produces doctors or lawyers – as second rate. The problem is compounded by hierarchical education systems that push more and more young people on to university courses. The creation of diverse economies and sustainable growth is part of the strategies of many countries across the Middle East and Africa. Tackling unemployment rates by improved skills training and small business creation are top priorities.

A Scottish teenager says the experience has changed her life. A Sharjah student describes it as a new beginning. They are two of the thousands of young people in the UK and across the Middle East and North Africa benefitting from the fast growing number of international partnerships between their colleges. Student and staff exchanges, joint courses, quality assurance programmes and young entrepreneur competitions are part of the British Council’s flagship skills development programme Skills for Employability now in 30 countries around the world. Colleges are teamed up with each other and key organisations, such as industry led skills councils and employers. One partnership alone – between Dudley College in the UK and Hoban Technical Industrial Institute in Yemen - has already involved more than 4,000 students, 1,600 teachers and 400 administrators. With Ministry approval the Hoban Institute wanted to develop

Students learn industry skills

a rigorous quality assurance process based on the UK model. Its success led the Ministry to issue a Ministerial Resolution requiring each institute in Yemen to provide a similar quality assurance unit. At first glance technical colleges in countries across the region have little in common with those in the UK – divided by more than 5,000 kilometres, different religions, languages and cultures. But while there are significant difference in curricula, teaching methods, resources and facilities, they share the same challenges. How can they keep up to date with the skill needs of employers in the fast moving world of technology

With this in mind, the British Council’s team for the Middle East and North Africa (MENA) carried out a key piece of research on attitudes to employability across the region last year. It found widespread dissatisfaction among employers with education systems. “Our research found employability skills to be the biggest challenge in the MENA region. Everyone sees it as a priority, from young people to educators, to ministers and employers,” says Melanie Relton, the British Council’s regional vocational education manager, responsible for developing the Skills for Employer Global programme. A decade ago the UK was facing much the same challenges as its then Government pushed for 50 per cent of young people to go to university. Things were turned around by concerted action by successive Governments, employers and industry bodies to improve and modernise standards of vocational education. The measures included new quality assurance systems, more rigorous qualifications and the increased involvement of employers in the design and delivery of courses.

ECONOMIC FOCUS CHAMBER NEWS

ARAB-BRITISH CHAMBER OF COMMERCE

Students in Yemen as part of our Skills for Employability programme

The British Council has sought to harness the expertise by seed-funding partnerships between the most successful colleges in the UK and those in the MENA region. So far 16 partnerships have been supported across eight countries in the region. And it is not a one way street. UK colleges are also gaining significant benefits, extending their international profiles. They have also gained through the exposure of their own “little island” students to international markets and cultures. Understanding that systemic change needs the support of government and ministries, the British Council is bringing together government agencies, Ministers, employer led skills councils and educators to consider the best ways to create a climate and legislative framework to foster high quality vocational education. In response to local demand, the British Council is also supporting the introduction of UK-style modern apprenticeships where the focus is shifted away from college-based courses

to workplace learning, assisted by parttime or distance college learning and high quality qualifications. One of the most successful partnerships has been built by two colleges in Wales – Pembrokeshire College and Coleg Gwent that collaborated with the Sharjah Institute of Technology (SIT). Having been funded since its inception by the national electric company, SIT had been taken over the by Chamber of Commerce and aimed to be financially self-sufficient. SIT wanted to raise the profile of technical education with employers who would then offer high quality employment to its students. After seeing what the UK colleges were doing with employers, SIT realised that they could not wait for the change of perception to happen – they needed to make it happen by getting employers on their side. “The project came at just the right time to assist the change process. It provided a rationale for looking critically at what the organisation did and what needed to improve,” said Reham Mustafa, SIT’s External Relations Manager.

Meanwhile, the two UK colleges were serving their longer-term aim to develop training and consultancy services in oil and gas-related subjects for companies in the Gulf region. Following the success of the partnerships, the British Council has launched an enterprise competition for young people to help foster the creation of new businesses. Some of the participants had more lofty aims: “Participation in the British Council Enterprise Award last year gave me such confidence in myself that I now aim to be the next prime minister of Libya,” declared Libyan 2012 winner Mohamed Elbesnawi.

Picture credits © Wagdi Gamal Maktri

Your future at your fingertips.

Cambridge

Start your online degree in September 2013. Apply now: www.anglia.ac.uk/abcc

www.anglia.ac.uk

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ADVERTORIAL

The online student experience

Anglia Ruskin University, based in Cambridge in the UK, are leading the way in the provision of work-based distance learning education to companies around the globe. How distance learning is transforming lives and careers Distance learning has a surprisingly long tradition of flexibility. From its beginnings in pre-revolutionary America to 21st Century Britain, over 21 million students are now gaining a degree from across the globe without the inconvenience or expense of studying full-time on campus. Through this flexible study method you are free to study when and where you want. This means you can earn a degree whilst working full time, giving you the chance to improve your career chances without taking any time out of the office. Furthermore, distance learning is often much cheaper than studying full-time on campus, so it is an affordable way for individuals and employers to invest in training and development without breaking the bank. Anglia Ruskin University, based in Cambridge in the UK, are leading the way in the provision of work-based distance learning education to individuals and companies around the globe. With a unique offering of courses to suit all industries and skill sets they are able to meet the training requirements of any company and provide staff with the qualifications needed to become great managers and leaders, all without the

need to take time out of work or visit our campuses. Anglia Ruskin University have partnered with the Arab British Chamber of Commerce to offer a fantastic range of courses to members, which cover subjects such as Management, Leadership, International Trade, Hospitality, Tourism, Charity and much more. You can obtain qualifications which start at entry-level Certificates and go right through to Master Degrees and MBAs. Karen Springett is currently studying with Anglia Ruskin University for an MA in Leadership. She says; “Distance learning is really great when you are working full time. I think the support has been excellent. It’s reassuring to know help is only an email away.” They also work with a number of leading international brands, including Harrods, RasGas, Specsavers, Timberland, Barclays, UPS, the Royal Air Force, Willmott Dixon and Volvo, to deliver inhouse training that meets their exacting requirements. Sarah Packman is Group Learning and Development Manager at Willmott Dixon, and she says; “The choice of Anglia Ruskin as an academic partner was the culmination of a long and rigorous process. In the end, Anglia Ruskin prevailed by providing the right blend of

reputation, professionalism and business awareness that Willmott Dixon needed.“ Through an innovative online Virtual Learning Environment (VLE) students are able to access a wide range of learning facilities, including a digital library, discussion forums, videos and podcasts of lectures, wikis and blogs. Anglia Ruskin provide everything students need to study with them, wherever they might be in the world.

CONTACTS They are taking applications now for the September 2013 intake. Please visit www.anglia.ac.uk/ abcc, call +44(0)845 196 6707 or email degreesatwork@anglia.ac.uk to find out more and to apply.

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One of the largest internationally recognised Education departments in London

Roehampton’s School of Education has a long established international reputation for high-quality teaching and research. The four colleges that make up The University of Roehampton have a proud and distinguished history dating back to the 1840’s. Whitelands College is among the oldest higher education institutions in England, and one of the very first to provide education for women. Representing 130 nationalities on campus, our courses attract local and international teachers and multi-professionals working in the field of Education. The Department offers a challenging, supportive and positive learning environment. Facilities are bespoke and events provide additional opportunities for students to participate in stimulating lectures, workshops and conferences. Our Education programmes attract students from many different professions including health, community, and education, allowing students to specialise in working with children from early childhood through to adulthood.

The University of Roehampton has an enviable record in graduate employment with 9 out of 10 of our graduates gaining employment or further study. “Studying in London has allowed me to develop not only my academic, but also my personal and social skills. Roehampton is special. It has a peaceful atmosphere and its staff supportive. As a Muslim, I appreciate the respect of our religion and the way a prayer room is provided. I have made a lot of exceptional friends from different cultures. With them my experience is gorgeous” Current student: Ebanan Aldarweesh –Saudi Arabia, MA Special And Inclusive Education Contact us now to choose your course and apply to international@roehampton.ac.uk or call +44 (0)20 8392 3232. Please visit our website www.roehampton.ac.uk.

Arabic Language Courses at the world’s leading institution for the study of Asia, Africa and the Middle East

A wide range of full-time and part-time study options in: – – – – –

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To ﬁnd out more visit www.soas.ac.uk/languagecentre Or contact us directly by calling 020 7898 4595 or emailing arabic@soas.ac.uk

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Collaboration is the key to solve international business problems Business and management education is a global business. Answers to complex interconnected questions can only be answered by thinking creatively in a global context. The Association of Business Schools (ABS) is the voice for the UK’s Business Schools and independent Management Colleges and sets the agenda for business and management education in the UK within an increasingly international environment. Last year we were delighted to announce a formal collaboration with the Arab Society of Faculties of Business, Economics and Political Sciences (BEPS) by way of a reciprocal membership agreement. Combined, our organisations represent nearly 200 business schools and over 510,000 business and management students. The ABS membership represents more than one in seven students studying in the UK, and one third of students from overseas studying in the UK. At the same time, there are more overseas students studying for a degree from a UK university outside the UK than inside it, and business and management education makes up a larger proportion of this international cohort than the one studying in the UK. All this takes place in a world where the demand for tertiary education is increasing year on year due to a combination of demographics and economics - the shift to post-industrial economies, the rise of service industries and the knowledge economy. Supply is increasing but struggling to keep pace in many parts of the world. The rise of the BRIC nations or the E7 is set to continue this trend, and continue to keep oil prices high, for the foreseeable future. Students

are increasingly mobile, increasingly accessing their education through a variety of technologies and financing their education in different ways – a third of students worldwide are studying at privately owned universities. Responding to mass demand has driven many of the key transformations of education in the past decades and business schools, and particularly business schools from the UK, have been very successful in recruiting students. The prevailing model has changed in recent years from one of setting up campuses to developing long-term partnerships with host institutions and the theme of collaboration is one that runs through modern business and management education. Whether it’s students and academics co-creating knowledge, schools and businesses co-creating research, different university faculties working together on big issues or institutions partnering across international borders - in a globalised, interdependent world economy no-one can operate alone. Business schools are uniquely positioned to participate in this interconnected world, in cross-faculty ‘big problem’ research, providing a learning experience that is relevant, participatory, entrepreneurial, globally focussed, locally relevant and technologically enhanced to an increasing self-funded market, celebrating cultural and institutional diversity while developing innovative solutions in partnership to interconnected and complex problems.

CONTACTS If you’d like to get involved with one of our networks or want any information on business education please get in touch with us at http://www. associationofbusinessschools.org/ Email: abs@the-abs.org.uk Phone: +44 207 388 0007 BEPS: http://www.aafba.net/En/ Component/Static/About.asp

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University of Sunderland. Your Journey starts here.

The Faculty of Business and Law at the University of Sunderland is recognised internationally for highquality, industry-relevant Business, Law and Tourism programmes. With students from over 70 countries and a presence on four continents, our central aim is to prepare tomorrow’s leaders for success. As the Number 1 Business School in the North East (Guardian University Guide 2012) the Faculty boasts outstanding teaching and learning facilities. Our academic portfolio is inspired by the University’s international connections and diverse staff and student population. Our Undergraduate and Postgraduate Business programmes are designed in collaboration with current practitioners and give an insight into key business sectors, industry and government; insight which has propelled our graduates into successful and fulfilling careers. Based at the modern Sir Tom Cowie Campus at St Peter’s in a beautiful riverside setting on the North East coast, our Sunderland campus benefits from

excellent transport links to London, Newcastle, Manchester and Edinburgh. Our London Campus is situated in the heart of London’s international financial district at Canary Wharf in the City of London and provides students with a business education in a uniquely vibrant setting. Dean of the Faculty, Prof. Bernie Callaghan states “The Faculty of Business and Law has been working with international students from all over the world for over 20 years. We are incredibly proud of our reputation as a friendly and supportive institution where the student really does come first. With world class research and students from countries as diverse as China, Vietnam, Nigeria and all over the UK the possibilities really are endless.”

For more information on studying for a degree from the Faculty of Business and Law at the University of Sunderland please contact: University of Sunderland: 0191 515 3341 London Campus: 0207 531 7333

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The Number 1 Choice for Tomorrow’s Business Leaders Faculty of Business and Law

Your Journey Starts Here Study for an Undergraduate or Postgraduate Degree with the University of Sunderland BA (Hons) Accounting and Financial Management Top Up BA (Hons) Banking and Finance Top Up BA (Hons) Business and Marketing Top Up BA (Hons) Business Management Top Up BSc (Hons) International Tourism and Hospitality Management Top Up Master of Business Administration (MBA) www.sunderland.ac.uk/faculties/bl

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Study with the Middle East experts Specialist degrees from the world’s leading institution for the study of Asia, Africa and the Middle East Full-time and part-time options • MSc International Management (Middle East and North Africa) • MSc Economics with reference to the Middle East • MA Media and the Middle East • LLM in Law in the Middle East and North Africa To ﬁnd out more visit www.soas.ac.uk/postgraduate Distance learning options • MBA Banking • MSc Finance • MSc Finance & Financial Law • MSc in Public Policy & Management To ﬁnd out more visit www.soas.ac.uk/distancelearning

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transforming management and lives through world class education

The Middle East and UK share many ties and have enjoyed a long and close relationship – this includes the area of education and the global reputation of British education and institutions is highly valued across the region. Top British business schools and higher education institutions are increasingly prominent in the region and Manchester Business School – part of the University of Manchester – is very proud to be part of this development and to be one of the first to establish a physical presence in the region. The region and especially the UAE has encouraged and supported top UK education providers to come to the region and have created some very exciting opportunities such as Dubai International Academic City and Dubai Knowledge Village, which have become regional hubs for education, training and HR. Since opening the Manchester Business School Middle East Centre in Dubai Knowledge Village in 2006, MBS has become the largest and fastest growing centre in the MBS international network, supporting more than 1,400 MBA students across the region. From the first cohort of 25 students, MBS Middle East Centre now adds around 200 new students each year through two annual student intakes. The MBS part-time Global MBA programmes are essentially designed for experienced and mobile working professionals and attract students from many countries in the region and many nationalities, including GCC local nationals. Around 50 per cent of the MBS Global MBA students are resident in the UAE and the rest are residing in countries around the region. The centre attracts students from 85 nationalities.

The same entry criteria is applied worldwide and MBS awards the same MBA degree from the University of Manchester, with a flexible blended learning programme and a strong face to face component with MBS faculty, through regular workshops in Dubai (or any of the other international centres). This format meets the demands of busy working professionals who want to advance their careers without stopping work or foregoing salary. MBS offers four part-time Global MBA programmes, designed for experienced professionals and businesspeople with MBA learning pathways in engineering, project management and finance, in addition to the general Global MBA – the most popular learning pathway. The part time MBA programme guarantees a minimum of 250 hours of face to face workshops with Manchester faculty, hosted in Dubai (and other international centres), and leads to the internationally recognised Manchester MBA degree awarded by the University of Manchester. The Manchester Business School MBA is triple accredited and ranked 29 in the world, according to the Financial Times (2013). MBS is part of a small and select group of institutions worldwide that is accredited by all three major bodies AACSB International, AMBA and EQUIS. MBS’ part time MBA students are typically mid career managers or specialists looking to switch career direction, move from a specialist role to management, or accelerate their management career.

MBS Middle East Centre student and alumni voices The MBA programme provided a series of world-class lecturers who significantly expanded on their subjects, well beyond the core texts. The student body is engaged and enthusiastic, both online and in workshops, and I have made great friends and solid business contacts consistently throughout my time on the course. As a management consulting CEO, the course has been a great investment, personally and professionally, and has reaped a significant return on investment.

Martin Hughes During the MBA programme, I decided to move from the secure corporate world and start my own business with my partners. I was able to get the right guidance and most importantly, get the right tools to evaluate, plan and execute my business idea. Moving from the corporate world as an entrepreneur and starting my own business is the key transition in my life. This would not have happened without the commercial understanding I got from the programme.

Moatassem Moatez Al Moatassem The MBS MBA programme gave me the opportunity to focus on a change in function and to develop a macrolevel understanding of business and an understanding of team dynamics. With the theoretical and practical skills I have gained, I have been able to transition from project engineering to strategy and develop an understanding of my leadership style, which what the MBS MBA helps you achieve – self-reflection and personal development.

Preeti Sharma

ECONOMIC FOCUS CHAMBER NEWS ADVERTORIAL

BITE IN TOP 5 UK PRIVATE HE COLLEGES

Just 14 years after it was established, the British Institute of Technology and E-commerce (BITE) has already become one of the top five largest private HE colleges according to the Times Education Supplement (THE). Based in the UK, BITE combines industry and education expertise to provide professional and degree courses

to students from across the world. International expansion plans include building international campuses in the

Middle East, Eastern Europe and Asia, enabling local students to benefit from BITE’s educational provision. A new campus will open soon in Canada and there are plans to take its first bite of the big apple with a business school in New York. As the UK Government seeks to place more emphasis on private colleges in the HE sector, BITE is playing a vital role in nurturing talent through professional development, apprenticeships and training. It is believed to have graduated more single programme business master’s students over the past three years than any other institution in Europe. The Institute features in a new book just published by Cambridge University Students’ Union, “The Guide to Excellence 2013” which highlights how BITE is helping employees and individuals gain the skills they need to take them to the next level and improve their chances of achieving career success. The Institute also remains true to its vocational training origins with a range of Chartered Management Institute courses right up to PhD level with a Level 8 Diploma in Strategic Direction and Leadership. It continues to also offer a range of practical City & Guilds, NVQ and Edexcel qualifications. The Institute’s three campuses can take 6,600 students per year with the London, Stratford headquarters the main student hub, an Oxford Street campus provides BITE’s professional and executive programmes, while the idyllic Shrubland Hall in Suffolk, is home to the Business School of England, BITE’s exclusive residential business school for the elite.

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The University of Strathclyde is a charitable body, registered in Scotland, number sc015263

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Masters in Business Administration (MBA) in UAE In a business world of constant change, management education is crucial to your career advancement. Triple accreditation and global rankings puts Strathclyde Business School in the top 1% of the world’s business schools. A key player in the UAE since 1995, we offer the prestigious MBA in both Abu Dhabi and Dubai.

Ron Bradfield bradfield@strath.ac.uk t 050.836.1254 To find out more visit

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ECONOMIC FOCUS CHAMBER NEWS ADVERTORIAL

ashridge business school developing managers Rory Hendrikz is Director of Ashridge Business School in the Middle East. With 25 years international business and consulting experience, Rory specialises in working with executives and organisations in the region on leadership, strategy and change in both the private and public sectors. Ashridge has been established for over 50 years in the UK and active here in the Middle East for 20 years. What types of courses and services do you offer? Ashridge’s expanding Middle East business now includes its No.1 Ranked Customised Executive Education Programmes, Open Enrolment Programmes, Organisation Consulting and Change, Psychometric and Assessment Unit and Virtual Learning Practices. This is Ashridge’s broadest service offering outside of Europe and we are now also in a position to leverage Ashridge’s degree awarding powers, by customising Masters degree programmes for specific organisations or industry sector consortiums.

What is different about Ashridge versus your peer group in the region and internationally? Ashridge has one of the largest corporate client portfolios in the world, working in over 60 countries with a

specific focus on developing managers rather than focusing on large student bodies. Ashridge adopts a very practical and applied approach to leadership and organisation development, which is born out of demand from the business world, and also holds the highest QAA academic ratings. This applied approach supported by academic rigor, where it is one of the few international business schools with Triple accreditation from USA, EU and UK accrediting bodies, is well regarded in the region and is being further underpinned by regional research into local leadership, business and organisation challenges.

Rory Hendrikz, Director, Ashridge Business School

import wholesale a Western ideology or world view of leadership into the Middle East and expect it to have relevance. Yes of course it is important to have access to and learn the latest international thinking in leadership and organisation development, but it’s equally important to understand the contextual nature of leadership in this region, which also isn’t homogenous. Ashridge is best known for its customised leadership and organisation development, so it has an inherent curiosity to inquire into and understand the local context when designing development interventions that are highly relevant and deliver the required impact.

How are the courses and services Ashridge offers tailored specifically to this region?

What types of client do you work with in the region and how?

Ashridge’s commitment to regional research has already been highlighted and this is seen as important, as Leadership is a phenomenon that emerges from and within a culture. Organisations in Europe will recognise that the leadership orientation is different between say the Scandinavian and Mediterranean countries, as it is different between the USA and Europe, so it doesn’t make a lot of sense to

We’ve been very fortunate to have developed an A-List client portfolio in both the Public and Private sectors, which include Global Multinationals and large Local organisations. Our philosophy is very much one of partnering, as it’s the only way to really understand an organisation’s strategic aspirations and challenges when designing and delivering a project that makes a difference.

You have been based in the Middle East for a number of years. What in your opinion are the major changes you have observed in the business world that business schools need to respond to? The past three to five years have seen unprecedented changes, from the global economic crisis, the far-reaching political shifts of the Arab Spring, the ethical and moral collapse of some of the worldâ&#x20AC;&#x2122;s leading organisations and the increasing frequency and power of environmental disasters. Within this uncertain context, business needs in the Arab world, as elsewhere, have been rapidly evolving in relation to executive education. One of the key drivers in the evolution of the executive education industry therefore has been the need for a direct connection to the organisation realities and objectives. Highly customised interventions are a necessary means of providing relevant learning. These tailored interventions are often developed in close partnership with senior leaders, in support of organisational goals and performance, rather than just developing individual managers. The economic crisis has brought a greater scrutiny of expenditure, where

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organisations are now seeking better value from their investments. This has promoted the innovators in the world of executive education to design interventions that ensure a greater degree of learning transfer and impact within the workplace. Huge technological advancements in a climate of time constrained managers has spawned innovations in the areas of blended and online learning. This trend is extending through the Arab world with strong uptake of mobile technologies resulting in executives demanding access to learning opportunities which are highly personalised any time, any place. Whilst these technological advancements are facilitating new innovations, the increasing 24/7 intensity and constant pressure on management resources is having an impact. Stress related illnesses are rising at an alarming rate globally, leading to lower levels of attendance, productivity and therefore lower business profitability. This is seeding another trend, where fairly peripheral fields of psycho-physiology, resilience, leading under pressure and workplace wellbeing are now moving into the mainstream of executive education. The Middle East youth bulge poses many challenges and opportunities for regional organisations and their leaders. Ashridgeâ&#x20AC;&#x2122;s Middle East Gen Y research, has identified that this critical generation

Ranked number 1 in the UK for customised executive education

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are arriving with a very different picture of leadership and expectations of organisations they work for. In response, successful regional leaders are rapidly evolving their leadership styles to effectively engage, develop and lead this ever expanding group, which is one of the key focus areas in Ashridgeâ&#x20AC;&#x2122;s Talent Management practice.

For more information on Ashridge Business School in the Middle East: visit www.ashridge.ae or call T: +50 554 0905

ECONOMIC FOCUS CHAMBER NEWS ADVERTORIAL

applicants to leading universities continue to increase

This increase in competition, particularly at leading universities such as Oxford, Cambridge, and Ivy League institutions, has led to a situation in which many strong candidates fail to secure places. In 2012, almost 5,000 candidates rejected by Cambridge went on to achieve at least A*AA in their A level or equivalent examinations. Against this challenging backdrop, applicants from the Arab countries face additional disadvantages. The majority of expatriate teachers in international schools are drawn from the British state sector, which traditionally struggles to send students to top universities. Pupils are, therefore, often given incorrect guidance on the application process, and even those who succeed in securing interviews and offers

Part of the wider Carfax group, Carfax Educational Projects (an institutional projects division) has overseen a series of school improvement projects in Dubai, as well as recruited experienced staff to educational leadership positions within the U.A.E. As a result of the success and support these projects have gained, Carfax now intends to establish an international centre of excellence for teacher training within the region, supporting Initial Teacher Training for staff from around the world, as well as offering on-going professional development courses, and Master’s level courses in Education Management. With links to a network of offices throughout the world, and staff who have taught and studied at leading schools and universities, Carfax is ideally placed to help raise educational standards in the U.A.E and the Gulf, and to support families who seek access to the world’s best institutions. The Director of Carfax Educational Projects, Mathew Goldie-Scot, has spoken about the opportunities within the region:

Rebecca with pupil

The number of applicants to the world’s leading universities continues to increase each year.

are preparing for study in the United Kingdom, Switzerland, or the United States of America. Carfax also provides specialist tuition and guidance to those considering post-graduate study.

may struggle to meet requirements set out by universities. This issue is particularly pronounced in International Baccalaureate schools, as leading universities tend to give higher offers to pupils from such schools (particularly in comparison to A-level candidates). It is therefore unsurprising that many parents have sought to supplement their children’s schooling with support from private tutors. However, many tutors teach at international schools, and thus lack the expertise and understanding required to support pupils who aspire to study at a world-class university. Last year, however, London’s leading tutoring agency, Carfax Private Tutors, opened a permanent office in Dubai. Carfax has extensive experience of providing focussed tuition to pupils in all subjects, and at all levels, with a particular focus on preparation for leading boarding schools, Oxford, Cambridge, and other leading universities. Carfax tutors are now supporting pupils throughout Dubai who

‘It seems clear that there is a firm commitment to improving schooling within the U.A.E. While some parents continue to send their children to boarding schools abroad, to give them the best possible chance of securing a place at a leading university, many families would prefer that their children are schooled locally, and are sometimes frustrated by the level of provision currently available. As a result, there is growing interest in altering approaches to recruitment to model international schools more closely on the British independent sector. Our London office has been engaged to recruit staff to a range of teaching positions in Dubai, and an increasing number of schools are seeking consultancy support to drive up standards in the classroom. Our planned teacher training college will make Dubai a centre of excellence for international education. We hope to establish international teaching as a life-long vocation, preparing a new generation of committed schoolmasters and schoolmistresses to work in international schools around the world. ‘

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Live a modern way of life with all the cherished refinements of old What does ‘being a Lady or Gentleman’ mean to you? To some people it suggests being born with a silver spoon in one’s mouth or coming from a long line of illustrious ancestors. Others see a Gentleman as someone who is immaculately dressed, with impeccable manners and well versed in the intricacies of social etiquette. The word Gentleman means ‘of gentle birth.’ This denotes a man whose family has had money, mostly in the form of land, for many generations. In the past they were pillars of the community who didn’t have to work. But we, at The English Manner, would describe a Gentleman or Lady in the 21st century as someone who treats others with kindness, consideration and respect, who tries to make people in his or her company feel comfortable at all times, and who thinks of others before themselves.

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ECONOMIC FOCUS CHAMBER NEWS

British Economic Survey

The British Chambers of Commerce Quarterly Economic Survey for the 2nd quarter 2013 received more than 7,400 business responses. The respondents cover the entire UK, and were surveyed by postal and online questionnaires over the period 20 May to 10 June 2013.

In the manufacturing sector 2,043 ﬁrms, employing approximately 200,000 people, responded. 1,366 (67%) of manufacturing respondents were exporters. In the service sector 5,376 businesses with approximately 700,000 employees responded. Of the service sector

participants, 2,221 (42%) were exporters. While the majority of respondents employ fewer than 500 people, the sample included many large businesses.

is similarly weighted within the national aggregates to ensure that the sample provides a truly representative picture of UK commerce and industry.

Total responses are weighted according to the actual distribution of companies by size within each region, and each region

The survey is the largest and most representative of its kind in the UK.

summary The Q2 2013 results show further welcome progress. For both manufacturing and services, most Q2 key balances are stronger than in Q1, but are still below their pre-recession levels in 2007. The strength of the export balances, notably in services, is again one of the most positive features of the results. It is remarkable that the Q2 service export balances are at or near their all-time highs. Improved conﬁdence, and strong employment balances are encouraging results. However, it is disappointing that the service investment

balances have fallen, and remain weak by historical standards. Cashflow is weak in both sectors, and the services balance worsened. Plans to raise prices eased, but inflation remains a significant concern in both sectors. Price pressures from pay settlements and raw materials receded, but those from financial costs rose. Overall, the Q2 results support our view that the economy will gradually strengthen over the next year, but serious risks still persist.

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Business Confidence The national confidence balances increased in Q2; all are now stronger than their long-term historical averages, but most are still below their average 2007 pre-recession levels. The manufacturing turnover confidence balance rose seven points in Q2, to +51%, the best level since Q3 2007. The manufacturing profitability confidence balance increased six points, to +39%, the equal best level since Q1 2007. Confidence that service sector turnover will improve in the next 12 months rose six points in Q2, to +46%, the best level since Q4 2007. Confidence that service sector profitability will improve in the next 12 months rose 12 points in Q2, to +34%, the best level since Q3 2007.

Domestic Market

Employment

Most national domestic balances improved in Q2; they are much higher than their average levels in the recession of 2008-09, and also above their long-term historical averages. But all balances are still below their pre-recession levels in 2007. The manufacturing balance for home deliveries rose four points to +16%, the best level since Q2 2011. The Q2 balance for manufacturers’ home orders stayed unchanged at +14%, still the equal best level since Q4 2010. The service sector’s balance for home deliveries rose eight points, to +20%, the best level since Q4 2007. The Q2 balance for service home orders rose ﬁve points to +16%, also the best level since Q4 2007.

National employment balances rose in Q2. The manufacturing employment balance rose eight points, to +19%, the best level since Q4 2010. The manufacturing employment expectations balance rose six points, to +20%, the best since Q1 2005. Both manufacturing balances are above their pre-recession levels in 2007. The service employment balance rose nine points, to +15%, the best level since Q1 2008. The service employment expectations balance rose 11 points, to +22%, the best since Q4 2007. Both service balances are now above their long-term historical averages but still below their pre-recession levels in 2007.

The Q2 balance of manufacturing firms operating at full capacity rose five points, to +36%, still lower than in the final three quarters of 2012. In services, the balance of firms operating at full capacity edged up one point, to +38%, the equal highest level since Q3 2008. The Q2 cashflow balances recorded divergent movements. The manufacturing cashflow balance rose two points, to +4%. The services cashflow balance fell five points, to +1%. Though positive, the cashflow balances remain weak for both sectors.

Investment

Prices

The Q2 national investment balances recorded divergent movements, rising for manufacturing and falling for services. The balance of manufacturing ﬁrms planning to increase investment in plant & machinery rose nine points, to +23%, the equal best level since Q3 2007. Manufacturing intentions to invest in training rose one point, to +20%, the equal best level since Q1 2008. The balance of service ﬁrms planning to increase investment in plant & machinery fell two points, to +7%. Service sector intentions to invest in training fell two points, to +15%. All the investment balances are still below their average 2007 pre-recession levels.

In both sectors intentions to raise prices weakened again in Q2. The balance of manufacturing firms reporting pressure to increase prices dropped five points, to +12%, the lowest since Q2 2012. The balance of service firms expecting to raise prices fell seven points, to +12%, the lowest since Q2 2009.

Export Market Most national export balances improved in Q2. The service export balances are at historically high levels, but the manufacturing export balances are still slightly below their pre-recession levels in 2007. The manufacturing export deliveries balance rose four points, to +23%, the best level since Q2 2012. The manufacturing export orders balance stayed unchanged in Q2 2013 at +22%, still the equal best level since Q2 2012. The service export deliveries balance rose three points in Q2 to +36%, the highest since our survey started in Q1 1989. The service export orders balance increased three points, to +29%, the best level since the all-time high seen in Q4 1994, which was +31%.

Capacity Utilisation and Cashﬂow

continued page 62

ECONOMIC FOCUS CHAMBER NEWS

from page 61

Home Orders and Sales

Q Excluding seasonal variation, domestic sales (domestic orders) over the past 3 months are: Up/Same/Down

The National Perspective Most Q2 2013 national domestic balances show an improvement compared with Q1 2013. In manufacturing, the sales balance rose while the orders balance was unchanged. In services, both domestic balances strengthened. In both manufacturing and services, all the Q2 home balances are much stronger than their average levels in the recession of 2008-09; the home balances are now also above their long-term historical averages. But, in both sectors, all the Q2 domestic balances are still below their average 2007 prerecession levels. The manufacturing sector’s net balance for domestic deliveries rose from +12% in Q1 2013 to +16% in Q2 2013, the highest level since Q2 2011. The balance for manufacturers’ home orders stayed

unchanged in Q2 2013, at +14%, still the equal best level since Q4 2010. Micro manufacturers recorded the weakest Q2 domestic balances, for both home deliveries and orders.

The Regional Perspective The Q2 2013 manufacturing balances for home deliveries were in positive territory in all twelve regions. In the case of home orders, one region was in negative territory in Q2, while eleven regions were in positive territory. Comparing the manufacturing sector’s domestic performance across the various regions, the weakest Q2 net balances were in the South East, at +1% for home sales, and at -1% for home orders. At the other extreme, the strongest Q2 manufacturing domestic balances were in the East

Midlands, at +37% for home deliveries, and at +29% for home orders. The Q2 2013 service sector’s net balance for home deliveries was in negative territory in one region, while eleven regional balances were in positive territory. In the case of home orders, we ﬁnd the same pattern: one region was in negative territory in Q2, while eleven regions were in positive territory. Comparing the service sector’s domestic performance across the various regions, the weakest Q2 net balances were in Scotland, at -18% for home deliveries and at -11% for home orders. At the other extreme, the strongest Q2 domestic service balances were in London for home deliveries, at +34%, and in the East Midlands for home orders, at +32%.

Export Orders and Sales

Q Excluding seasonal variation, export sales (export orders) over the past 3 months are: Up/Same/Down

The National Perspective Most national export balances improved in Q2 2013 compared with Q1 2013. In

manufacturing, the sales balance rose while the orders balance was unchanged. In services, both export balances strengthened. In both sectors, the export

balances are now above their long-term historical averages. The service export balances are at historically high levels, and are higher than their pre-recession

ARAB-BRITISH CHAMBER OF COMMERCE

levels in 2007; but the manufacturing export balances are still slightly below their pre-recession levels in 2007. For both manufacturing and services, the export balances are stronger than the comparable domestic balances. The net balance for manufacturing export deliveries rose from +19% in Q1, to +23% in Q2, the highest level since Q2 2012. The manufacturing balance for export orders stayed unchanged in Q2 2013, at +22%, still the equal best level since Q2 2012. The manufacturing sector’s export balances remain weaker in Q2 2013 than the service export balances. The service export deliveries balance rose by three points in Q2 2013, to +36%, the best ever level since our survey started in Q1 1989. The previous all-time high was +35%, seen in Q4 1994. The service export orders balance increased by three points in Q2, to +29%,

the best level since the all-time high seen in Q4 1994, which was +31%.

The Regional Perspective The Q2 2013 manufacturing sector’s net balance for export deliveries was in negative territory in one region, while eleven regional balances were in positive territory. In the case of export orders, the Q2 2013 manufacturing net balances were in positive territory in all twelve regions. Comparing manufacturing export performance across the various regions, the weakest Q2 net balances were for the Eastern region for export sales, at -5%, and in the East Midlands for export orders, at +12%. At the other extreme, the strongest Q2 manufacturing export balances were in London for export deliveries, at +52%, and in the North East for export orders, at +39%

The Q2 2013 service sector regional balances for export deliveries were in positive territory in eleven regions, while one region was at 0%. In the case of service export orders, two regions were at 0% in Q2, while ten regions were in positive territory. Comparing service sector export performance across the various regions, the weakest Q2 balance for export sales was in Northern Ireland, at +2%; and in the South West for export orders, both at 0%. At the other extreme, the strongest Q2 service balances were in the Eastern region, at +67% for export deliveries, and at +68% for export orders.

Investment Q

Over the past 3 months, what changes have you made to your investment plans: a) For Plant and Machinery: Revised upwards / Revised downwards / No change b) For Training: Revised upwards / Revised downwards / No change

The National Perspective The investment balances in Q2 showed divergent movements in the manufacturing and services sector. The balance of manufacturing ﬁrms planning to increase investment in plant & machinery increased nine points, to +23%. Manufacturing intentions to invest in training increased by one point to +20%. The balance of service ﬁrms planning to increase investment in plant & machinery, though positive, fell by two points to +7%. Similarly service sector intentions to invest in training also fell, by two points to +15%. Both service balances remain relatively weak, with

both on average 23 points below their peaks last seen in 1997.

The Regional Perspective In the manufacturing sector the investment in plant and machinery balance remained positive across all regions, although, Scotland, Yorkshire & the Humber, the North West and Northern Ireland recorded weak balances. The strongest results were recorded in the South West (+47%) followed by the South East (38%). The investment in training balance recorded the lowest result in Northern Ireland and the highest in Wales and the East of England (both at +41%).

In the service sector only Scotland and the South East recorded negative balances for the investment in plant and machinery balance (-25% and -9% respectively), with the national balance currently at a low level of +7%. The strongest positive balance was recorded in the North East at +22%. The investment in training balance recorded positive balances for all regions and nations except Scotland (-4%). The strongest result at +26% was recorded for London followed by the West Midlands (+24%).

continued page 64

ECONOMIC FOCUS CHAMBER NEWS

from page 63

Business Confidence Q Do you believe that over the next 12 months: a) Turnover will: Improve/Remain the same/ Worsen b) Proﬁtability will: Improve/Remain the same/Worsen

The National Perspective All the national confidence balances recorded increases in Q2 2013. In both manufacturing and services all the confidence balances are now much stronger than their average levels in the recession of 2008-09. But most Q2 domestic balances are still below their average 2007 pre-recession levels. Confidence that manufacturing turnover will improve in the next 12 months increased modestly from +44% in Q1 to +51% in Q2, highest level since Q3 2007. Confidence that manufacturing profitability will improve in the next 12 months rose slightly from +33% in Q1 to +39% in Q2, the equal best level since Q1 2007. Confidence that service sector turnover will improve in the next 12 months rose

from +40% in Q1 to +46% in Q2, the best level since Q4 2007. Conﬁdence that service sector proﬁtability will improve in the next 12 months rose from +22% in Q1 to +34% in Q2, the best level since Q3 2007.

The Regional Perspective The manufacturing sector’s Q2 2013 net balances for turnover confidence were in positive territory in all twelve regions. In the case of profitability confidence, we find the same pattern, with all areas recording positive balances. Comparing manufacturing confidence across the UK, the weakest Q2 balances were in Scotland for turnover confidence, at +21%, and in the South East for profitability confidence, at +9%. At the other extreme, the strongest Q2 manufacturing confidence balances were

in the South West, at +81% for turnover, and at +76% for profitability. In the service sector, the Q2 2013 balances for turnover confidence were in positive territory in eleven regions, while one regional balance was negative. In the case of profitability confidence, we find the same pattern: eleven regions were in positive territory in Q2, while one regional balance was negative. Comparing service sector confidence across the UK, the weakest Q2 net balances were in Scotland, at -9% for turnover confidence, and at -2% for profitability confidence. At the other extreme, the strongest Q2 service sector balances were in London, at +73% for turnover confidence, and at +62% for profitability confidence.

Capacity utilisation and cashFLow Q Are you currently operating: At full capacity/Below full capacity

Q During the last 3 months how has your cashﬂow changed: Improved/Same/Worsened

CAPACITY UTILISATION The National Perspective

percentage points, from 31% in Q1 2013 to 36% in Q2 2013. It now stands ten percentage points below its peak which was seen in Q4 2007.

In the manufacturing sector the capacity utilisation result increased by ﬁve

In the services sector the percentage of ﬁrms stating that they were operating

at full capacity edged upwards from 37% in Q1 2013 to 38% in Q2 2013. The percentage of ﬁrms stating that they were operating at full capacity has averaged 36% for the last two years.

ARAB-BRITISH CHAMBER OF COMMERCE

The Regional Perspective In the manufacturing sector the highest proportion of firms reporting that they were operating at full capacity was recorded in Scotland (79%) exceeding the UK average of36%, followed by Northern Ireland (41%) and the North West(36%). The region with the lowest capacity utilisation figure was the North East (11%). In the services sector the two regions reporting the highest capacity utilisation figure were London (47%), followed by Northern Ireland (43%). The lowest figure was recorded in the East of England (28%).

CASHFLOW The National Perspective In the manufacturing sector the cashflow balance increased by two points to reach +4%. The balance recorded for cashflow this year has remained very low, only averaging +1% for 2012 as a whole. The cashflow balance is now 14 points below its peak, last seen in Q4 2006. In the service sector the cashflow balance fell by five points, to +1%. The balance remains positive for the second quarter having been negative from Q2 2008 TO Q4 2012. The balance remains

20 points below its peak last seen in Q4 1997.

The Regional Perspective In the manufacturing sector the highest balances were recorded in Wales (50%), the South West (30%) followed the West Midlands (22%). Negative balances were recorded in the South East (-41%), East of England (-21%) and Northern Ireland (-20%). In the services sector, highest balances were recorded in London (22%), Wales (20%) followed by the North East (17%). Negative balances were recorded in Scotland (-33%), East of England (-26%), and the South East (-25%).

External Factors Q Please indicate which of the following factors are more of a concern to your business than 3 months ago: Interest Rates / Exchange Rates / Business Rates / Inﬂation / Competition / Tax

Manufacturing Manufacturing firms, at the national level, recorded divergent movements in their anxiety levels in Q2. Competition worries surged from 21% to 35%, and were manufacturers’ biggest area of anxiety; small firms (39%) expressed the biggest concern. Inflation worries edged up from 29% to 31%, and were manufacturers’ second biggest area of anxiety; all firm sizes signalled similar degrees of concern. Exchange rate worries fell markedly from 38% to 27%; micros and small firms (both at 31%) expressed the highest concern. Interest rates concerns edged up from 13% to 15%; large firms (20%) signalled the highest level. Corporate taxation concerns rose marginally from 20% to 21%; micro firms, at 27%, signalled the highest level.

Business rate worries eased from 19% to 17%; micro ﬁrms, at 29%, signalled the highest level.

Services Service sector firms, at the national level, also recorded divergent movements in their anxiety levels in Q2. Competition worries were unchanged, at 36%, and remained the biggest area of anxiety for service firms; small and medium service firms (both at 40%) signalled the highest level. Inflation worries were unchanged, at 32%, and remained the second biggest area of anxiety for service firms; micro and small firms (both at 33%) signalled the highest level. Corporate taxation worries edged up from 22% to 24%; micro firms (27%) signalled the highest concern. Business rate worries rose from 18%

to 22%; small firms (25%) signalled the highest level. Exchange rate worries fell from 20% to 14%; medium firms (21%) signalled the highest concern. Interest rates concerns edged up from 14% to 15%; medium firms (20%) signalled the highest level. Service firms are less concerned than manufacturers about exchange rates. Published with the permission of the British Chambers of Commerce, from where the full report may be obtained.

2nd QUART

ER 2013

BRITISH CHAMB

QUARTERLY ECONOMIC SURVEY ERS OF COMME

RCE

ECONOMIC FOCUS CHAMBER NEWS ADVERTORIAL

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ADVERTORIAL

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ECONOMIC FOCUS CHAMBER NEWS

chamber’s visit to the kingdom of Saudi Arabia The Chamber took part in a productive visit to the Kingdom of Saudi Arabia in March. The visit’s aims were twofold: to attend and participate in the Best of Britain Trade exhibition and to strengthen relations with senior decision makers from local Chambers, government bodies and key Ministers in the Kingdom. Ministry of Finance In a busy and productive series of meetings, the ABCC delegation led by Dr Afnan Al-Shuaiby, Secretary General & Chief Executive and Baroness Symons, Chairman, met with HE Dr Ibrahim bin Abdulaziz Al-Assaf, the Minister of Finance, on 10th March. Their talks focused on the Chamber’s activities including a possible Saudi finance conference in the near future. The Minister mentioned the steps to introduce new laws to accommodate the servicing of mortgages and also explained that his ministry was keen to expand the insurance market, the capital markets, IPOs and Sharia compliant products.

Ministry of Foreign Affairs The delegation was warmly received by His Highness Prince Turki bin Mohamed bin Saud Al Kabeer, Undersecretary of the Ministry of Foreign Affairs for MultiRelations Affairs, where discussions were held on the ABCC’s planned events and activities programme.

HRH Ahmad Al Saud HRH Ahmad Al Saud, a prominent Saudi business man and lawyer, welcomed

Baroness Symons and Dr Al-Shuaiby for a discussion on the merits of setting up an arbitration centre that uses both UK law and Sharia law.

Riyadh Chamber of Commerce and Industry On Sunday 11th March the delegation met with Mr Hussein Al-Adel, SecretaryGeneral, Riyadh Chamber of Commerce and Industry and his senior team. Mr Hussein Al-Adel welcomed Dr AlShuaiby and Baroness Symons and commended Dr Al-Shuaiby, for all the good that she had achieved at the Chamber. Mr Hussein Al-Adel said that he would welcome an ABCC trade mission to meet key members from the Saudi chambers, an offer that was welcomed.

Ministry of Economy and Planning Dr Al-Shuaiby and Baroness Symons were warmly received by H E Dr Mohammad Al Jaser, the Minister of Economy, who was given a full briefing of the chamber’s activities and future events. The minister said that Saudi Arabia is presently seeking value added possibilities to meet an urgent need to

provide opportunities to its very young population. To this end the minister stressed that the Saudi market is not just a consumer market but an investment one that requires added value in it economy.

SAGIA Dr Al-Shuaiby was warmly received by HE Abdullatif A Al-Othman, Governor and Chairman of the Board of Directors of SAGIA, and his team to whom Dr AlShuaiby conveyed Baroness Symons’s apologies who attended another meeting. Discussions with SAGIA explored areas of joint co-operation between the organisation and the ABCC.

Minister of Justice The delegation met His Excellency Dr Mohammed bin Abdulkareem Al-Issa, Minister of Justice, who welcomed the initiatives that the Chamber was taking to enhance cooperation between the UK and Saudi Arabia. The Chamber was commended for organising the Saudi Law & Justice Forum in London last year at which the minister spoke.

Other Meetings & Events The Chamber delegation also attended the opening of the Best of Britain exhibition and the workshops that took place at the Nayyara Banqueting and Convention Centre in Riyadh. They also attended the Best of Britain Fashion Show reception at the British Embassy, which formed a part of the Best of Britain Saudi Arabia 2013. Dr Afnan Al-Shuaiby and Baroness Symons were accompanied on the visit by Mr Abdeslam El Idrissi, ABCC Director of Trade Services.

ARAB-BRITISH CHAMBER OF COMMERCE

ARAB BRITISH CHAMBER OF COMMERCE www.abcc.org.uk

FOREIGN OFFICE SERVICE

ECONOMIC FOCUS CHAMBER NEWS

Arab Women in the Global Economy

As Dr Al Shuaiby told the forum, “Enhancing women’s prospects, through encouraging entrepreneurship and improving access to the labour market, is an essential part of the process of establishing an inclusive, strong and sustainable economy in the 21st century.” She expressed the hope that the ideas elaborated in the discussion would be taken forward in other forums.

The Chamber was delighted to host the Arab Women in the Global Economy Forum on 21 March which attracted leading businesswomen from around the Arab world. The forum which adopted as its theme, “Building the Future Together”, acted as a bridge for fostering dialogue between Arab women and their counterparts in the UK. Welcoming the delegates, Dr Afnan AlShuaiby, ABCC Secretary General and Chief Executive, pledged the Chamber’s strong support for the aims of the seminar and welcomed the theme as vital and topical. The event saw the participation of businesswomen from the Gulf and other Arab countries, Europe and Britain. The forum, under the patronage of H E Dr Shaikha Hind Abdulaziz Al Qassimi, attracted delegations of business women from several Arab states including Bahrain, Qatar, Oman, Kuwait and the UAE. The initiative was supported by the Federation of GCC Chambers H E Dr Shaikha Hind Abdulaziz Al Qassimi

of Commerce, the Bahrain Businesswomen’s Society, the Council of Arab Economic Unity, the Arab International Women’s Forum and the Dubai Department of Tourism and Commerce Marketing. The forum was effective in ensuring that the vital issues concerning women’s participation in the economy were brought into focus and their potential contribution to creating a secure and prosperous future was appreciated much more widely. The organisers brought together an impressive programme of speakers who delivered some fascinating presentations. Particularly interesting were those that recounted personal experiences of breaking through in the business world and their success stories of building a business acted as role models to inspire others. Baroness Symons of Vernham Dean, ABCC Chairman

The ABCC Chairman Baroness Symons announced plans for a major conference on the achievements of Arab women in business that the Chamber was planning with the support of the Foreign Office to coincide with the UK’s hosting of the G8 summit in June. Other speakers included Ms Sara Al Mahri, Third Secretary/Deputy Manager of the Political Affairs Dept, the UAE Embassy, who brought greetings on behalf of the UAE Ambassador. Her own experience was a reflection of the progress that the UAE has been making on gender equality by giving Emirati women the confidence to succeed. H E Abdulrahim Hassan Naqi, Secretary General of the GCC Chambers, lauded the proud record of the private sector in the Gulf for pioneering the opening up of opportunities for women’s participation. He stressed the important part played by the chambers in assisting businesswomen in the Gulf and looked forward to more women taking the initiative to exercise their creativity. Mrs Khoulood Al Qattan, General Secretary, Bahrain Businesswomen’s Society, described the many reform initiatives that Bahrain had taken to empower women economically and socially.

Mrs Afnan Al Zayani, Bahrain Business Women’s Society

ARAB-BRITISH CHAMBER OF COMMERCE

Mrs Zainab Al-Farhan Al-Imam, Director, A&Z Traders Ltd

The forum considered key themes such as “Empowering Women in the National Economy: Women Leaders of Tomorrow”, “Women’s Role in Economic Development: Women and Leadership” and “Arab Women in the Global Economy: Business and Financial Services”. Badria Al Mulla, President of International Emirates Business Group (IEBG), spoke about her strategy for business success through establishing a trusted brand at the global level. She described the business vision which had enabled a small local consulting firm to expand into an international group of companies with branches in oil and gas, integrated management technology, leadership programmes, real estate investment and the fashion industry and which serves clients in the Middle East, Europe and the United States. Mrs Afnan Al Zayani, Bahrain Businesswomen’s Society and Bahrain Chamber of Commerce, described the increasing number of women entering the private sector in Bahrain and the extensive support system in place to assist them.

Badria Al Mulla, President, International Emirates Business Group

She pointed to the key role of education and training as part of Bahrain’s national strategy for the advancement of women. Mrs Nada Al Hashimi, Director Investment Management, UAE Ministry of Economy, addressed the contribution of Emirati women to economic development of their country and pointed to the growing numbers of women graduates and women in top executive positions. Dr Florence Eid, former head of MENA research at JP Morgan and the founder of Arabia Monitor, focused on the impact of education in inspiring women with the confidence to succeed as entrepreneurs. Dr Eid maintained that despite the great progress for Arab women, there was still a gap in terms of a lack of financial support to enable women to startup in business which she attributed to the perception of the high risks involved. Mr Hassan Al Swaidi, Abu Dhabi Company for Onshore Oil Operations (ADCO), praised the contributions of Arab women to their countries and said that he felt Arab women to be as empowered as women anywhere in the world. H E Abdulrahim Naqi, Secretary General, Federation of GCC Chambers

Dr Afnan Al-Shuaiby, Secretary General & CEO, ABCC

He said that the leaders of the UAE had long encouraged women and that they were taught to believe that it was their right to occupy high positions. Other speakers were Mrs Kamila Al Aufi, President, Business Women Forum of the Oman Chamber of Commerce, who spoke about the position of women in Oman, and Mr Kadhim Al Saeed, Bahrain Chamber of Commerce, who noted the changing role of women from consumers to pro-active business leaders. In the concluding session, Ms Azeemeh Zaheer, Vice President, Gatehouse Bank, stated that for modern businesses women were now a strategic issue in the modern economy. Describing the 21st century as the “generation of the female,” Ms Zaheer stressed the need for women to become more financially literate because more of them were taking on the responsibility for making investment decisions. There were still as yet too few women involved in global investment decisions, she declared, pointing out that only 1% of all global real estate was at present owned by women. Ms Vikeka Anderton, Owner/Principal Consultant, Vita Consulting Services Ltd, urged more research into Arab women’s participation in business. She also reflected on some of the cross cultural challenges of working as a woman in the field of mergers, acquisitions and outsourcing in the Middle East. The AWGE event was sponsored by the Gatehouse Bank, the Design Resource Centre, Gold AE, Arbuthnot Latham & Co, and Sun Capital.

ECONOMIC FOCUS CHAMBER NEWS

Dr Afnan Al-Shuaiby (centre) with members of the delegation from Qatar at the Chamber

Chamber hosts Qatar business delegation The Chamber was pleased to welcome a delegation of young business executives from Qatar to its offices on 26 March. The delegation of more than 30 men and women comprised Qatari officials and young executives from some leading companies and institutions in the country with a range of sectors represented. They were hosted at the Chamber by Dr Afnan Al-Shuaiby, Secretary General & Chief Executive, who led a discussion that explored the potential of working together more closely to enhance business contacts and commercial relations between the UK and Qatar. The Qatar delegation was visiting London to meet officials from key commercial

and government institutions to gain first-hand experience of how companies operate in the global economy. London had been chosen for the visit because of its status as a global city in the international economy. Companies represented included Qatar Petroleum, Qatar Gas, RasGas, Q-Tel, ictQATAR, Qatar University, Qatar Science & Technology Park, Qatar Central Bank and the Qatar Leadership Centre. Mr Abdeslam El-Idrissi, ABCC Director of Trade Services, gave a presentation introducing the work of the Chamber

during which he spoke of the broad range of services provided to both British and Arab member companies. Mr El-Idrissi also produced the latest statistics to illustrate the growth in bilateral trade between Qatar and the UK. Qatar was an important market for UK goods and services but exports from Qatar were also on an upward trend bolstered in particular by significant recent increases in supplies of LNG to satisfy the UKâ&#x20AC;&#x2122;s domestic energy needs. Discussion touched on the necessity of improving sources of information on Qatar in order to counter misrepresentations in the media, how Qatar can attract more investors and visitors and what can be done to encourage more British companies to seek out opportunities in the country. The rules for establishing a company in the UK and the possibility of organising British trade delegations to Qatar were also raised during the discussions. Dr Al-Shuaiby emphasised that the Chamber was keen to work with Qatar to enhance bilateral business relations. The role of the private sector and the part played by SMEs in improving business between the UK and Qatar were identified as especially important and these were particular areas where the Chamber had significant expertise that could be of assistance.

ARAB-BRITISH CHAMBER OF COMMERCE

ABCC signs MoU with Dar Al-Hekma College The Arab British Chamber of Commerce has reached a Memorandum of Understanding with Dar Al-Hekma College of Saudi Arabia, to promote special programmes that address the educational needs of Arab and British youth. The MoU was signed at a reception at the premises of the Chamber in Mayfair, on the evening of 10 April. The MoU was formally signed by Dr Afnan Al-Shuaiby, Secretary General & Chief Executive of the ABCC and Dr Suhair Hassan Al Qurashi, the President of Dar Al-Hekma, which is a leading private higher education college based in the Saudi Arabian city of Jeddah. Speaking at the reception, Dr Al-Shuaiby

stated that “education is an important and growing area of bilateral cooperation between Britain and the Arab countries and the Chamber is pleased to be playing a constructive part as a strategic organisation in this process.’’ Welcoming the agreement, Dr Suhair Hassan Al Qurashi described Dar AlHekma College as a unique institution founded to provide higher education for young women with high quality academic programmes.

Dr Suhair Hassan Al Qurashi and Dr Afnan Al-Shuaiby

Under the terms of the MoU, the two organisations have pledged to work together to foster mutual educational, scientific, trade and cultural interests. They will organise educational programmes and exchange involving the members of their respective organisations. The formal signing of the MoU was followed by a networking reception attended by prominent business executives, diplomats and experts in the education field. Dr Al-Shuaiby expressed thanks to all those in attendance for supporting what she described as an “important and very worthwhile initiative’’.

Dr Afnan Al-Shuaiby and Dr Suhair Hassan Al Qurashi sign the MOU between the ABCC and Dar Al-Hekma College.

ECONOMIC FOCUS CHAMBER NEWS

Libya Trade Day: New Economic Landscape

Well over one hundred company executives from a cross-section of industries attended the Libya Trade Day which was organised by the Arab British Chamber of Commerce and held at the UKTI Conference Centre, Westminster on 10 April. The clear message emerging from the event was positive: Libya was moving ahead with its reconstruction process and welcomed the cooperation of British companies. Delegates heard that significant opportunities exist in the fields of oil, mining, banking and finance, construction, transport, telecommunication, retail, healthcare, education, agriculture and tourism. Key contributions were delivered by Lord Marland, the Trade Envoy to the Prime Minister, and H E Mahmud Mohammed Nacua, the Ambassador of Libya in the UK. In opening the conference, Dr Afnan Al-Shuaiby, ABCC Secretary General & Chief Executive, thanked the partnering organisations, UK Trade & Investment for supporting and hosting the event,

Dr Afnan AlShuaiby, ABCC Secretary General & CEO

the Embassy of Libya in London and the Federation of Libyan Chambers of Commerce, Industry & Agriculture. Dr Al-Shuaiby said the Libya Trade Day had chosen to focus attention on the key sector opportunities where UK companies are best equipped to achieve success in the market. Chairing the opening session, Baroness Symons, ABCC Chairman, stated that Libya was approaching a key period with many important new contracts expected within the next few months. She said that Libya was a key transit point for trade and business between Europe and the continent of Africa and a wealthy country with sufficient resources to carry out its plans. Lord Marland stressed that the British and Libyan governments were both strongly in support of improved business

cooperation between the two countries. He believed that British businesses were well placed to help Libya emerge from decades of lack of investment. H E Mahmud Mohammed Nacua warmly thanked the organisers for the opportunity to discuss the reconstruction of his country. He emphasised that Libya was making steady progress and he allayed the concerns of potential investors regarding possible security risks.

Main Sessions The conference was divided into two sessions: the first concerned transport, infrastructure, construction and utilities; while the second dealt with security, finance, IT and energy. Chairing the first session, Mr Edward Oakden, Managing Director, Strategic

Rt Hon Lord Marland, the British Prime Ministerâ&#x20AC;&#x2122;s Trade Envoy

ARAB-BRITISH CHAMBER OF COMMERCE

H E Mahmud Mohammed Nacua, Ambassador of Libya to the UK

Baroness Symons of Vernham Dean, ABCC Chairman

Trade, UKTI and a former ambassador, said now that Libya had approved its budget, spending on reconstruction would increase, making it a good time for businesses to look to the new opportunities emerging in the market. Mr John Southgate, Executive Director, Capita Symonds, listed those factors which made Libya attractive: it had vast reconstruction needs following some 40 years of underinvestment and ample resources at its disposal to fulfil its aspirations. Emerging projects included new roads, airports, ports and railways and he estimated that the opportunities were now greater than ever. With a rate of car ownership the highest in Africa and road congestion in the capital Tripoli a serious matter, Libya needed modern technologies to establish efficient signalling on the road network. Ms Sarah Cain, Commercial Manager for North Africa, British Airways, explained the rationale behind the airline’s decision to resume services to Libya on 1 May 2012. She stated that BA was committed to rebuilding its relationship with Libya and saw a positive trend in the demand for travel to the country especially business flights. BA would seek to increase its services from its current three flights a week from Heathrow as the conditions improved, and the African continent was a key area for the airline’s business development strategy. Edward Oakden explained that FCO policy to avoid “all but essential” travel did not mean that people should not visit Libya. While certain parts of the country

must be avoided, it was possible to visit Tripoli safely if sensible precautions were observed.

view to coming into force in early 2015, although this deadline might not be achievable, he said.

Mr John Brooke, Consultant, Clyde & Co, delivered a legal perspective on doing business in Libya and highlighted some key changes in commercial laws, including the new foreign ownership law which was put at a maximum of 49%.

Mr David Beeley, First Vice President, ABC International Bank, explained the best options of trade finance for exporters to Libya.

He stated that there was a lack of clarity in land ownership and the land registry office was not currently operating. Mr Angus Jackson, UKTI Libya market specialist, stated that although Libyans regarded the UK favourably as a quality partner, companies needed to be present on the ground to become better known and trusted in the market. Chairing the second session, journalist Ms Nabila Ramdani, first introduced Andrew Gadsby, International Marketing Director, General Dynamics UK, who addressed security issues, insisting that many of the common concerns were misplaced and misperceptions were based on inaccurate reporting of events in the country. Mr Gadsby said that key opportunities existed in both the civil and the defence areas: police authorities need equipment and technologies; while the top priority was border control and surveillance. Mr Assad Riyany, Director, Gumhouria Bank – Libya, presented an insider’s insight into the state of the banking sector which was being rebuilt after decades of isolation. The Central Bank of Libya has taken steps to develop Islamic banking. A new Islamic banking law had been approved and was awaiting implementation with a

Mr Beeley said that most UK high street banks were not yet ready to take on Libyan bank risk, although those with experience of the market, such as his own, were ready to offer letter of credit services. Mr Nitin Dahad, Technology Specialist, UKTI, surveyed the ICT landscape in Libya and explained some of the actions taken by the UK to foster cooperation. Mr Dahad indicated that Libya would be looking to establish an IT regulator for which contracts would soon be awarded and that the Libyan authorities were prepared to listen to serious proposals that offered solutions to develop the IT sector. Mr Gordon Stirling, Regional Director, Wood Group, said that his company had been operating in the Libyan energy sector for many years and he was impressed by the present drive to achieve change. He was hopeful that long stalled projects would soon be given the go ahead.

Summing Up The key messages of the conference were that Libya was keen to do business with the UK; it was a complex but exciting market and following the approval of a £33 billion state budget in 2013, Libya was starting to spend on new projects across a range of sectors which were offering new opportunities for business.

ECONOMIC FOCUS CHAMBER NEWS

London, Italy and the MENA Countries An exclusive half-day seminar on the theme of London, Italy and the MENA Countries took place at the office of the Arab British Chamber of Commerce on 11 April 2013. The ABCC joined with the Italian Chamber of Commerce and Industry for the UK to organise this event which was designed to explore areas of shared interest in doing business with in the Mediterranean trade area. Baroness Symons, ABCC Chairman, stated that the Chamber was honoured to receive the senior delegation of officials from Italy to participate in the discussions. She also welcomed Mr Nick Archer, Strategic Trade Group Director, UKTI, describing UKTI as a “solid partner of the ABCC’’. A senior representative of the Moroccan Chamber was also welcomed to the seminar. Baroness Symons delivered apologies on behalf of Dr Afnan Al-Shuaiby, ABCC Secretary General & Chief Executive, who was unable to be present at the seminar.

how the different strengths of the UK and Italian economies could combine to form a stronger partnership for doing business with the MENA. There were opportunities for boosting exports as well as new business in the healthcare, education, financial services and IT sectors. There was therefore real potential to be gained from the UK and Italy working closer together on this agenda at both the government level and as chambers of commerce, the Baroness said. Speaking on behalf of Dr Al-Shuaiby, Mr Abdeslam El-Idrissi, ABCC Director of Trade Services, stated that today’s global recovery is being led by the dynamic emerging economies which are providing a crucial boost to renewed growth in their more developed counterparts.

The challenges that are facing global and regional markets offer a window of opportunity to reinvigorate relationships and help reinforce efforts to develop closer partnership between the EU and the MENA nations, Dr Al-Shuaiby had said. Mr Enzo Quattrociocche, Secretary General, European Bank for Reconstruction and Development, spoke on the theme of “The Value of Europe’s International Financial Centre to the EU Economy”. The EBRD was originally founded to assist the countries of Eastern Europe in making the transition to a market based economy. The bank was now responding to recent changes in the Arab world and able to draw on its experience to provide services to the MENA economies. Mr Quattrociocche stated that the bank was starting activities in four Arab markets, Egypt, Jordan, Tunisia and Morocco, on their request and in line with its mandate to assist countries in transition. In September 2012, the EBRD established a special investment fund to support projects in the MENA countries, but before they can become full recipient countries, the bank needed to amend its constitution, said Mr Quattrociocche, who expected this move to be taken soon. The focus of its activities was on developing the private sector which was extremely relevant for the circumstances facing the MENA’s developing economies. Priorities for the EBRD included supporting the growth of SMEs, addressing gaps in the market, encouraging efficiency in agribusiness,

From her experience in government where she held the trade portfolio and had responsibilities for the Middle East, Baroness Symons understood the importance of links between the European Union and the MENA countries. “The Euro-Med agreements were foremost among European trade agreements,’’ she said. There were many aspects to the agenda such as competition law, trade and consumer agreements, which were of common interest for the UK and Italy. The aim of the seminar was to consider

From left: ABCC Chairman Baroness Symons; Mr Nick Archer, Director, Strategic Trade Group, UKTI; Mr Marcelo Sala, Executive Vice Chairman, Intesa Sanpaolo; Mr Leonardo Simonelli Santi, President, Italian Chamber of Commerce and Industry for the UK; Mr Alberto Castronovo, Multilateral Finance Manager, SIMEST; and Mr Enzo Quattrociocche, Secretary General, EBRD

ARAB-BRITISH CHAMBER OF COMMERCE

Baroness Symons and Mr Leonardo Simonelli Santi

sustainable energy and energy security. He explained that the bank was concentrating on helping startup businesses with access to finance and improved business skills. Several projects in the four MENA markets that he had mentioned were currently under consideration. The bank was committed to supporting the principles of transparency, good governance, environmental sustainability and a reformed legal framework as prerequisites for enabling business to flourish. He stressed that the bank would normally remain a minority shareholder in any project that it decided to support but the actual level of funding depended on the type of project, the sector it was in and who the other sponsors were. UKTI’s Nick Archer was the first speaker

to address the theme of “Constructing a Framework for EU-MENA Cooperation”. Mr Archer welcomed the opportunity provided by the seminar for exploring the potential for cooperation between the UK and Italy with third countries, a development he described as “three-way co-operation’’. He said that the government had now adopted the principle of “complementarity’’ in its trade policy and was seeking to identify mutually beneficial collaboration with other countries.

Intesa Sanpaolo is a leading lending bank in Italy supporting exports to the MENA and was helping to bring best practise to the markets. The region was characterised by oil exporters with huge surpluses alongside oil importing countries in great need of investment.

Mr Archer believed that there was a lot of scope for the expansion of UK-Italian cooperation on projects around the Middle East.

Mr Sala believed that there was real potential in developing joint projects in North Africa involving the EU and GCC as partners.

Mr Alberto Castronovo, representative for multilateral financing with Società Italiana per le Imprese all’Estero (SIMEST), described the seminar as a “far-sighted initiative’’ given how much the UK and Italy had to offer each other.

In closing remarks, Mr Leonardo Simonelli Santi, President, Italian Chamber of Commerce and Industry for the UK, expressed his pleasure that the outcome of the seminar had been a success and hoped that it would encourage future cooperation between the Italian Chamber and the ABCC.

Mr Castronovo was deputising for Vincenzo Petrone, the SIMEST President, who was unable to be present. He said that SIMEST focused its work on supporting SMEs in Italy seeking to boost their exports or expand their business activities overseas. He explained that the institution was able to acquire up to 49% of equity capital of foreign firms to support foreign investments in countries outside the EU. Young executives from the Italian Chamber of Commerce and Industry at the seminar

Mr Marcello Sala, Executive Vice Chairman, Intesa Sanpaolo, looked in detail at the economies of the MENA region and how European investors could assist.

In future SIMEST would be looking to support SMEs with potential for growth in the MENA region, Mr Castronovo stated.

The Italian Chamber of Commerce and Industry for the UK represents Italian business in Britain and is one of the oldest of the 75 Italian Chambers abroad. It has offices in London, Manchester and Glasgow. Mr Santi explained that London was the right place to hold such an event given its status as an international financial centre and as home to many established Italian businesses. He believed that the economic strengths of the UK and Italy were extremely complementary which formed the basis for cooperation.

ECONOMIC FOCUS CHAMBER NEWS

Joint Reception of ABCC and AIWF

On Wednesday 5th June 2013 a reception jointly held by the Arab-British Chamber of Commerce (ABCC) and the Arab International Womenâ&#x20AC;&#x2122;s Forum (AIWF) took place. The event was hosted by Dr Afnan Al-Shuaiby, Secretary General & Chief Executive of ABCC and Mrs Haifa Al Kaylani, Founder & Chairman of AIWF. They welcomed many prominent women and men from diverse industrial and business backgrounds including the worlds of academia, civil societies, and commerce. The warm and pleasant evening reinforced the two organisationsâ&#x20AC;&#x2122; profound commitment to Arab women, and in providing a platform for future support, and expansion of opportunities for women in education and work. The event was viewed as a great success

Mrs Haifa Al Kaylani, AIWF Founder and Chairman

and offered a relaxed and informal space for Arab women to network with other women and men, and to build contacts for their future. The reception gathered nearly a hundred of distinguished guests, members and partners of both the ABCC and the

Some of the executives at the reception

Dr Afnan Al-Shuaiby, ABCC Secretary General & CEO

AIWF, representatives from government, business, academia, international organisations and civil society. It also provided a great opportunity for the members of both organisations to meet and exchange news and views. The event saw many people stay until very late, enjoying the fun and friendly atmosphere and the excellent Lebanese cuisine.

ARAB-BRITISH CHAMBER OF COMMERCE

Women’s Role in Arab Countries – supporting open economies and inclusive growth As part of its G8 Presidency, the UK hosted a major economic conference on “The role of Arab women – supporting open economies and inclusive growth” on 25-26 June 2013. The Arab British Chamber of Commerce worked in partnership with the Foreign Office to organise the conference which was held at the FCO’s prestigious Lancaster House venue. In total, around 250 delegates took part over the two days.

The Deauville Partnership provides support for the economic transitions of the people in Egypt, Tunisia, Morocco, Libya, Jordan and Yemen. The partnership also includes the G8 countries of Canada, France, Germany, Italy, Japan, Russia, the United Kingdom,

and the United States, along with the EU and regional partners Kuwait, Turkey, Qatar, Saudi Arabia and the UAE. Many of these countries were represented at the conference. The conference was formally opened by Baroness D’Souza of Wychwood, Speaker

From left: Kit Malthouse, Deputy Mayor of London for Business & Development, H E Reem Abu Hassan, Minister for Social Development, Jordan, H E Bassima Hakkaoui, Minister for Solidarity, Women, Family and Social Development, Morocco, and Rt Hon Baroness Symons of Vernham Dean, Cherie Blair QC, Diane Primo, Founder, Intralink Global, H E Sihem Badi, Minister of Women and Family Affairs, Tunisia, and Dr Afnan Al-Shuaiby, Secretary General & CEO, ABCC continued page 82

ECONOMIC FOCUS CHAMBER NEWS

from page 81

Rt Hon Baroness D’Souza of Wychwood, Speaker, House of Lords

Secretary of State for International Development Rt Hon Justine Greening

in the House of Lords, who stated that the themes to be addressed at the conference were vital not only for women but for the long term prosperity of the Arab countries and the wider world. Baroness Symons of Vernham Dean, Chairman of the ABCC, took the chair for the first session, ‘Women in Open Economies and Inclusive Societies’.

Dr Afnan Al-Shuaiby, Secretary General & CEO, ABCC

The focus was on real business and how to create employment opportunities for the young people of the region. The Rt Hon Lord Green of Hurstpierpoint, Minister of State for Trade and Investment, delivered a welcoming address during which he pointed to the mutual interests in strengthening global growth and prosperity.

Dr Afnan Al-Shuaiby, Secretary General and CEO of the ABCC, joined the participants of this session which also included Cherie Blair QC, Barrister and Founder, Cherie Blair Foundation, Diane Primo, Founder, Intralink Global, H E Bassima Hakkaoui, Minister for Social Development, Jordan, H E Sihem Badi, Minister of Women and Family Affairs, Tunisia, and Kit Malthouse, Deputy Mayor of London for Business & Enterprise.

The Minister stressed the UK governments support for the conference which was addressing key topics.

Baroness Symons explained that the aims of the conference were to enable delegates to share their experience, knowledge and expertise and to build relationships for the future.

The obstacles that women face in entering the professions were common to every part of the world, Mrs Blair said.

Baroness Symons stated that the conference had been entirely funded by private sponsors whom she warmly thanked for their support. Cherie Blair felt that the world could no longer afford to let the reservoir of women entrepreneurs remain untapped.

Many of these obstacles were legal in

ARAB-BRITISH CHAMBER OF COMMERCE

nature but it was not only the law that needed to change. The informal barriers were even more difficult to resolve, she said. Diane Primo spoke of her optimism about the structural changes taking place in the global market place and how they would benefit women. New technology had brought great advantages to women by giving them access to the world via their laptops. H E Bassima Hakkaoui pledged Morocco’s support for the objectives of the Deauville Partnership and pointed out that the initiative reflected the vision of the country’s own strategy for social justice. The Minister thanked the UK for hosting the conference and the G8 for launching the programme. She said the agenda was an important one for women’s participation in the Arab economies. The Minister went on to refer to the ongoing reforms made by Morocco over more than a decade in the legal, institutional and financial sectors which were designed to support social justice and greater equality for women, including opportunities for economic participation. H E Reem Abu Hassan, Jordan Minister for Social Development, stressed the achievements of her country in relation to advancing the role of women.

Rt Hon Lord Green of Hurstpierpoint, Minister of State for Trade and Investment

One of the issues identified by successive speakers at the conference was that while women were making advances in higher education, they were as equally well represented in the economy. The Minister said that Jordan was meeting the challenges to assist women in the workplace by taking measures such as establishing a fund to assist with the costs of maternity leave. H E Sihem Badi, Tunisia Minister of Women and Family Affairs, remarked

H E Bassima Hakkaoui, Minister for Solidarity, Women, Family and Social Development, Morocco, and Rt Hon Baroness Symons

that the issues faced women were common ones around the world. Women in Tunisia had historically achieved high positions in the professions such as the judiciary and the proportion of women in higher education was more or less equal to that of men. Women have a record of success in business but in Tunisia today there was only has one women minister in government, she said. Dr Al Shuaiby pledged that the ABCC was fully committed to assisting women to realise their potential in the many sectors of business opening up to them. She explained that the Chamber saw its task as acting as a bridge to facilitate contacts between Arab businesswomen and their counterparts in the UK private sector. Dr Al Shuaiby briefly mentioned some of the initiatives that the Chamber had taken to assist women, including the numerous seminars and events it had organised and its cooperation with organisations such as the Arab International Women’s Forum. Mr Kit Malthouse, Deputy Mayor of London for Business & Enterprise, described what city hall was doing in order to help women in the workforce and to encourage more women to become economically active. continued page 84

ECONOMIC FOCUS CHAMBER NEWS

from page 83 H E Sihem Badi, Minister of Women and Family Affairs, Tunisia

H E Reem Abu Hassan, Minister for Social Development, Jordan

He said London’s focus was not only on high status executives but on women in lower paid jobs. Flexible working was one of the issues of importance to them to make working life easier. The second session concerned ‘Promoting Women’s Entrepreneurship and Leadership’ and featured a panel of experts chaired by Lynn Franks, a social entrepreneur and founder of SEED Empowerment Programmes for Women. Praising the ‘’inspiring conference’, Ms Franks remarked that women could advance more effectively if they collaborated more actively and expressed the belief that women had the right qualities to be very effective leaders in business. Tara Vishnanwath, Senior Economist, MENA, World Bank, provided a brief but comprehensive perspective on recent economic developments in the Arab countries and the impact on women. In many respects, she said, the region can be proud of its achievements in closing the gender gap, but much of the progress had not yet translated into business and the workplace. Majd Shweikeh, Founder & President of Jordan-based Masharek 360 Solutions Middle East, described how she had managed to overcome many obstacles to achieve success in 2006 as the first women CEO in the telecommunications industry. She stressed that it had taken 25 years after receiving a first-class honours

degree for her the telecoms sector to open its doors to women, but they now had the opportunity to realise their potential.

Assistance with savings, insurance, credit and money transfer services were all vital for helping women in business, as was legal advice, she said.

Khalida Azbane, AFEM Association of Women Entrepreneurs, Morocco, told the conference that there were a large number of women in business in her country.

Delivering a keynote address, International Development Secretary Justine Greening, said the conference was ‘’key to putting across the message that women’s role in Arab economies should be, and needs to be, an integral part of the Deauville agenda’’.

She spoke of the need to assist women to gain access to business and described an incubator programme to help company start ups. Ghada Waly, Managing Director, Social Fund for Development, Egypt, explained how women in Egypt were an economic power in the country and how they were especially active in the SME sector.

The Minister paid tribute to the women who were pushing change through business in the Arab world and who have overcome real barriers to lead businesses of their own. Ms Greening observed that the ‘’gender gap’’ in the Arab countries was the

Lynne Franks (centre) with Majd Shweikh,Tara Vishnanwath (left), Khalida Azbane and Ghada Waly

ARAB-BRITISH CHAMBER OF COMMERCE

highest in the world and the issue needed to be addressed because women were central to strengthening global trade. Finally, the Minister announced that the Department for International Development (DFID) would be launching a new initiative, Challenge Fund for Arab Women in Business, to improve the competitiveness of women entrepreneurs. A session on global supply chains sought to identify how business partnerships could help women in the MENA region to connect with the global markets. Eve Branson, the mother of entrepreneur Richard, gave an account of Virgin’s business venture in Morocco. She described how she had encouraged her son to buy into a hotel in the Atlas Mountains which he had readily agreed to do as part of supporting the growth of craft industries in nearby villages. Laila Iskander emphasised the importance of product design and quality control in order to enable goods to enter the supply chain and find a route to market. Simply put, if goods were not of a sufficiently high quality or produced to a standard format much of the effort would be wasted. Basis skills were needed in order to allow women to earn a living and support their families, she said. Meg Jones, Head of the Women and Trade Programme, ITC, a UN body helping SMEs to achieve export success,

Baroness Morris of Bolton

described how the ITC was working with both government and the private sector to develop national export strategies. Cherifa Beja, an agricultural worker from Morocco, described the initiative supported by Oxfam to improve conditions for women workers in food supply chains. Ms Beja, speaking through an interpreter, spoke of the value of schemes to give access to training and raise awareness of legal rights for women in remote rural areas. Louise Herring, Ethical Trade Manager, Sustainable and Ethical Sourcing, Sainsbury’s, explored the role of the retailer in the global supply chain and how it could help promote ethical trading. Countries such as Morocco were a vital source of fresh produce for the supermarket, especially for ‘out-ofseason’ fruit, she said. Kelly Bell, Head of Sustainable Sourcing, Driscoll’s Berries, described her company’s efforts to source fruit from all around the world by working with local growers who benefit from the partnership.

Majd Shweikeh, Founder & President of Masharek 360 Solutions Middle East

In the session on Financing Business Growth in MENA, the discussion was chaired by Simon Bell, Finance and Private Sector Unit, World Bank, who outlined some of the outstanding issues and the role of the Bank in the region. Raeda Al Qutub, Islamic Development Bank, told the conference what the

H E Dr Maitha Salem Al-Shamsi, Minister of State, UAE

IDB was doing in order to help women entrepreneurs in the Arab countries. Francesca McDonagh, Head of Retail Banking and Wealth Management for HSBC in the MENA, said that women were a rising economic power globally and the world should no longer underestimate this power. Charlotte Ruhe, European Bank for Reconstruction and Development, stressed that the bank now had a presence in Egypt, Jordan, Morocco and Tunisia where it was providing advisory services to companies, including those run by women. The EBRD was addressing issues such as mentoring, networking, training and support services for start-up firms. Florence Eid, Founder & CEO, Arabia Monitor, described her experience as an Arab woman entrepreneur and her work to educate and create new entrepreneurs. Day two began with an address from H E Dr Maitha Salem Al-Shamsi, UAE Minister of State, who explained that under the leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan, the UAE was keen to empower women as a pillar of its national economy and as partners in the process of sustainable development. The Minister stated that the deep-rooted friendship between the UK and the UAE offered a basis for jointly facing up to the challenges in the modern world. It was essential to nurture the ambitions continued page 86

ECONOMIC FOCUS CHAMBER NEWS

from page 85

Dr Afnan Al-Shuaiby, Secretary General & CEO, ABCC, Rt Hon Alistair Burt, FCO Minister for MENA, H H Princess Lalla Joumala Alaoui, Ambassador of the Kingdom of Morocco to the UK and Rt Hon Baroness Symons of Vernham Dean with some of the Arab women who received achievement awards at the conference

of women through good educational opportunities and legal rights to strengthen their participation in the economy and society, she said. Delegates were then screened a recorded message from the UK Foreign Secretary William Hague where he addressed many of the issues of concern to women concerning development and cooperation.

shared her experience of involvement in global trade negotiations and 25 year career in banking and government.

HRH Princess Sumaya bint El Hassan of Jordan

Centre (IDRC), examined the complex links between trade and gender.

Ms Badran suggested more networking opportunities for women in Arab chambers of commerce for women members.

Trade talks between the European Union and the Mediterranean countries offered an opportunity for women to help set the trade rules that might assist more women, she said.

Susan Joekes, Economist with Canadaâ&#x20AC;&#x2122;s International Development Research

Following this session, the conference broke up into workshops where issues

Baroness Morris of Bolton chaired a session on Gateways for Women into Trade and Investment which included a panel of business leaders and experts from Tunisia, Jordan and Canada. Baroness Morris, whose role is to act as a trade envoy on behalf of the British government, stressed that many obstacles still needed to be overcome for women involved in trade. Mrs Wided Bouchamaoui, President, Tunisian Union of Commerce, Industry and Crafts (UTICA), emphasised that women in her country were determined to play their parts in the changes taking place in her country especially in the economic sphere. She said there were many success stories to celebrate of Tunisian women in business and historically the country had made progress to advance women through education. Reem Badran, Second Vice Chairman, Amman Chamber of Commerce, Jordan,

H H Princess Lalla Joumala Alaoui, Ambassador of the Kingdom of Morocco to the UK and Rt Hon Alistair Burt, FCO Minister for MENA presenting an achievement award to Mrs Wided Bouchamaoui, President, Tunisian Union of Commerce, Industry and Crafts (UTICA)

ARAB-BRITISH CHAMBER OF COMMERCE

HRH Princess Sumaya bint El Hassan of Jordan (centre right), Rt Hon Baroness Symons, Rt Hon Alistair Burt, FCO Minister for the MENA, Mr Quentin Primo III, CEO, Capri Capital

were addressed in greater detail and enabling closer interaction between delegates. The conference later came together to share the conclusions from each workshop and draw up some common proposals that could be widely circulated among G8 decision makers. The concluding session looked at Creating a Workplace Where Women Can Thrive: An Agenda for Action and was

chaired by Nicola Ehlermann-Cache, OEDC with a final panel of speakers. This session consisted of Fiona Wolf, CMS Cameron McKenna, City of London, Mara Marinaki, Managing Director, Global & Multilateral Issues, European External Action Service, Badra El Alawa, Head of Egypt and Tunisia Decent Work for Women Programme, ILO, Malini Patel, MENA Senior Director and

Acting Senior Director for Economic Empowerment, Vital Voices Global Partnership, and Quentin Primo III, CEO, Capri Capital. The formal proceedings concluded with closing remarks from HRH Princess Sumaya bint El Hassan of Jordan, the Rt Hon Alistair Burt, Foreign Office Minister for the Middle East and North Africa, and Rt Hon Baroness Symons.

At an awards ceremony after the conference the achievements of the following women were recognised: 1 Outstanding businesswoman Reem Badran, Second Vice President and Board Member, Amman and Jordan Chamber of Commerce (Jordan)

6 Outstanding contribution to retail industry Azza Fahmy, Chairwoman and Chief Designer, Jewellery of Egypt

2 Outstanding contribution to economy and trade Wided Bouchamaoui, President of the Tunisian Confederation of Industry, Trade and Handicrafts (UTICA) and Administrator of HBG (Hedi Bouchamaoui Group), Tunisia

7 Outstanding contribution to financial and professional services Nezha Hayat, Executive Board member and Director Delegate, Private and Institutional Management Department, Société Générale Marocaine de Banques, President of the supervisory boards of SGMB filials, Sogebourse and Gestar and CEO of Sogeplacement, Morocco

3 Outstanding young female entrepreneur Al-Anoud T. Al-Rammah, General Manager Al-Rammah Holding Co and Founder, ADMEX Co, Saudi Arabia. 4 Outstanding contribution to technology, innovation and creative industries Eya Essif, Chairman and CEO, Ecobois, Tunisia 5 Outstanding contribution to energy and environment, infrastructure, manufacturing industries Dala Hussein Ahmad Al Amawi, Director of International Cooperation Dept, Jordan Atomic Energy Commission, Jordan

8 Advancement of women’s education and skills development; outstanding contribution to healthcare Dr Ebtesam Al Dallal, Consultant Periodontist & CEO, Al Kindi Specialised Hospital, Bahrain 9 CSR Award Dr Laila Iskander, Chairwoman, CID Consulting, Egypt 10 UK/MENA Partnership Award Dr Amina Wakefield, Head of International, Cambridge Regional College.

ECONOMIC FOCUS CHAMBER NEWS ADVERTORIAL

GUIDE TO THE FOREIGN EXCHANGE MARKET

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Why Omnis FX? OmnisFX; HELPING CLIENTS ACHIEVE OPTIMUM PRICES ON CURRENCY EXCHANGE TRANSACTIONS. Omnis FX is a UK based currency exchange specialist. We are a provider of competitive exchange rates for a variety of clients, both private and corporate. The company objective is to offer clients an unprecedented level of service coupled with cost effective, efficient transaction services. The service we provide is efficient, fast and consistent which means that our clients receive the same level of care and attention regardless of transaction size! Achieving the best rate for any currency exchange requirement is pretty high on the agenda for any company which regularly needs to buy or sell currency and therefore OmnisFX endeavours to provide clients with the optimum exchange rate for currency transactions.

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Market Orders These are the two common types of market order used in currency risk management: Stop Loss Order – Enables a business to set a minimum rate at which the desired currencies are exchanged. Stop loss orders are used by businesses to lock in a worst case exchange rate, whilst still benefiting from any favourable currency movement. Stop orders can be monitored closely and amended as the market moves. Limit Order – Enables a business to set a target exchange rate at which point, if reached, currency will be purchased. A limit order is used by businesses that regularly transfer funds, and wish to capitalise on currency movements.

Combining Orders In order to effectively manage currency exposure, a stop order is often combined with a limit order to produce a range with an upper and lower currency level. This allows a company to make its currency transactions more predictable as the exchange rate is guaranteed to be within these parameters. Optimisation of this strategy requires flexibility. The order levels are monitored constantly and in conjunction with client input amended when necessary. Omnisfx have spent a lot of time and effort in setting up and opening local bank accounts in Dubai. These accounts are for USD,GBP,EUR and AED and means that the processing time for sending and receiving funds has been decreased. This enables our clients to get payments in and out much quicker.

ARAB-BRITISH CHAMBER OF COMMERCE

CONTACTS OmnisFX, The Innovation Centre, 128 Trevenson Road ,Pool, Redruth, Cornwall TR15 3PL You can also contact our team for any queries related to our services or your personal account at Telephone: 0203 328 0611 Fax: 0203 328 0612 Email: info@omnisfx.co.uk www.omnisfx.co.uk

ECONOMIC FOCUS CHAMBER NEWS

Opportunities in Tunisia

Many UK firms were operating in Tunisia and new ones were entering the market. Mrs Wided Bouchamaoui, President, Tunisian Union of Commerce, Industry and Crafts (UTICA), stated that Tunisia had gone through an exceptional period recently but it was now moving forward. Throughout this entire time, business had never stopped, she pointed out. She estimated that 3,000 European companies now operated inside Tunisia and said that business confidence remained strong.

The Chamber held a business seminar on 27 June 2013 to highlight the new opportunities in Tunisia and discuss what has been happening in the country over the past two years. The seminar was formally opened by Dr Afnan Al-Shuaiby, Secretary General & CEO of the Arab British Chamber of Commerce, who explained that Tunisia was seeking to attract foreign investment and strengthen its commercial relations as it takes steps to revive its national economy and build future prosperity. She stressed that Tunisia was eager to strengthen its cooperation with the British business community and mentioned that the government in Tunis was in the process of carrying out major reforms that were designed to improve the investment climate and make procedures easier for doing business. Baroness Symons, ABCC Chairman, said that the seminar would focus on how UK firms can form solid trading relationships with partners in Tunisia and explore how the UK can help the country grow its economy.

H E Nabil Ammar, Ambassador of the Republic of Tunisia, thanked the Chamber for hosting the seminar which he described as a welcome opportunity to raise the profile of what Tunisia had to offer to business and investors. The main message that Tunisia wanted to put across was that UK business should look at the market now and not wait until the transition period was completed, he said.

The country had many assets and incentives to attract investors, including tax advantages. It offered access to the markets of the MENA region and African continent. Mrs Bouchamaoui drew attention to the new investment code that Tunisia was adopting and said that the country wanted to be seen as a trading hub for the region. Legislation was under review in order to address any concerns of investors and she felt that the new code would give a boost to investment. She said that the private sector had an important role to play in the countryâ&#x20AC;&#x2122;s transition process.

Government led partnership was a solid foundation and assistance to doing business.

Mrs Bouchamaoui was congratulated on receiving one of the awards for business achievement at the G8 Arab Womenâ&#x20AC;&#x2122;s conference which had taken place the day before the seminar.

The country provided an ideal regional platform for trade in the whole EuroMediterranean area.

Ms Sally Axworthy, Head of North Africa Department, Middle East and North Africa Directorate at the Foreign &

The priority for Tunisia was to deliver more jobs and improved living standards to meet the expectations of the people. Baroness Symons mentioned the emerging opportunities in education and training, healthcare, IT and communications technology, tourism and the creative industries which were areas where the UK had particular strengths. She also announced that the Chamber was planning to lead a trade mission to Tunisia later in the year and invited UK firms to take part.

H E Nabil Ammar, Ambassador of Tunisia

Mr Hassine Doghri, Chairman, Tunisian British Chamber of Commerce

ARAB-BRITISH CHAMBER OF COMMERCE

From left: Mr Hassine Doghri, Chairman, TBCC, Mr Roger Foster, Sales Director, Orbit International Plc, Baroness Symons, ABCC Chairman, Ms Wided Bouchamaoui, President UTICA, H E Nabil Ammar, Tunisian Ambassador, Ms Sally Axworthy, Head of North Africa Department, MENA Directorate, FCO

Commonwealth Office, said that the UK supports the transition in Tunisia and it saw new opportunities for trade and investment. She recommended the services of UKTI to companies contemplating entry into the market. She said that the country had made significant progress since the start of the ‘Arab Spring’ which began in Tunisia. Ms Axworthy mentioned the support provided through the Arab Partnership Programme to help with skills training and the advice on drawing up the new investment code. Through the European Union, the UK was also supporting SMEs in Tunisia, she said. The UK viewed the country as an open and diversified economy with a skilled labour force and acting as a strategic hub for regional trade. Cooperation with the UK in the energy sector was particularly important, as BG group was the largest foreign investor. The UK was looking at the potential for developing renewable energy in Tunisia given its wind, wave and solar resources, Mr Axworthy stated. Mr Hassine Doghri, Chairman, Tunisian British Chamber of Commerce, explained that the organisation that he heads was established to support UK and Tunisian companies and its existence reflected the strong British presence in the market.

The TBCC offered support to investors and exporters on both sides, he stressed. Mr Doghri listed some of the areas where there was great potential for cooperation, namely agri-foods, natural oils for cosmetics, education, IT and the banking sector. He pointed out that Tunisia was now achieving positive growth and looked forwarded to it achieving higher results in future. Mr Doghri finished by calling on UK firms to seize the opportunities opening up in Tunisia and invited them to visit the country. Mr Roger Foster, Sales Director, Orbit International Plc, explained the factors that led his company to opt to set up its regional operations in Tunisia. He explained that the decision to look at the country was motivated by its location and the fact that it had an established textile industry. The presence of a skilled labour force and the incentives for companies to set up were other important factors, he explained. Mr Foster had undertaken 15 visits to Tunis in the last two years and warmly praised the support offered by FIPA’s London office in the lengthy process of getting established in the country. The company was now operating from temporary premises in Tunis and was

looking forward to expanding by the end of 2013 and finally opening up on its new site in early 2014, he explained. The transparency of the decision making process and the reliability of its infrastructure were other positive factors. He said that Orbit had found the country’s banking and financial system to be reliable. He told delegates that he had not found any language barriers so far as many people in Tunisia now speak English to a high standard. Although legal documents had to be translated into French and Arabic, he said that this posed no real problem since it was easy to find professional translators. During the discussion, Baroness Symons pointed to the role of the British Council in providing training for entrepreneurs. UKTI was keen to develop education links with Tunisia. The Ambassador told the seminar that although many changes were taking place in the country, it would remain an open economy and he believed transparency could only improve. Baroness Symons announced a very important G8 investment conference that the UK would be hosting in September which, she said, would address the needs of investors in the Arab countries and which looked set to attract 500 delegates from around the world.

ECONOMIC FOCUS CHAMBER NEWS

NEW MEMBERS OF THE CHAMBER

Brown Rudnick LLP 8 Clifford Street LONDON W1S 2LQ Tel: +44(0)20-7851 6000 Fax: +44(0)20-7851 6100 Email: ntse@brownrudnick.com Website: www.brownrudnick.com Contact: Mr Nicholas Tse Partner, MENA Practice Director Business Activity: Law firm

Capplex

Abou El Fadl, El Kassed & Partners Law 13 El Themar Street Moustafa Mahmoud Square Mohandessin Giza EGYPT Tel: +202 374 93 924 Fax: +202 374 93 932 Email: k.salem@ak-p-law.com Website: www.ak-p-law.com Contact: Mr Karim Salem Partner Business Activity: International corporate law firm focused on mergers and acquisitions, due diligences, and business transactions; legal advice on corporate law, investment, banking, real estate development, intellectual property, labour, energy, telecommunications, litigation and arbitration; risk analysis and investment monitoring; advice on starting up business in Egypt

Al Jowza Health & Beauty Centre PO Box 29068 Manama BAHRAIN Tel: +973 17 661 848 Fax: +973 17 663 942 Email: naeemaalbalushi@yahoo.com Website: www.aljowza.com Contact: Mrs Naeema Al Balushi Director Business Activity: Spa and beauty centre

AMJCO Iron Industries WLL House 324 Road 4011 Manama BAHRAIN Fax: +973 17 650 758 Email: ha6ja@yahoo.com Contact: Mrs Hala Jamal President Business Activity: Iron industries

Arafa Trading 32 Adones Ebrahimi Street Alexandria EGYPT Tel: +201 0026 00070 Fax: +203 5914872 Email: arafamohamed1@hotmail.com Contact: Mr Wael Mohamed Arafa Owner Business Activity: Export and Import company specialised in hand made furniture, Egyptian cotton linens, towels etc and also importers of agricultural products

Arbuthnot Latham Arbuthnot House 20 Ropemaker Street LONDON EC2Y 9AR Tel: +44(0)20-7012 2628 Email: lindaclack@arbuthnot.co.uk Website: www.arbuthnotlatham.co.uk Contact: Mrs Linda Clack Director- Head of Middle East Private Banking Business Activity: Banking and finance

BBA Associates 207 Regent Street 3rd Floor LONDON W1B 3HH Tel: +44(0)20 7193 4257 Email: info@bba-marketing.com; as@bbamarketing.com Website: www.bba-marketing.com Contact: Miss Anna Stella Marketing Expert Business Activity: Marketing services providing strategic and operational marketing

Outer Temple Chambers 222 Strand LONDON WC2R 1BA Tel: +44(0)20-7427 4892 Email: michael.patchett-joyce@outertemple. com; shiraz.oshidar@outertemple.com; georgie-sihdair@btopenworld Contact: Mr Michael Patchett-Joyce Principal Business Activity: Barrister; professional services consultancy

Carfax Education Consultants Limited 48 Langham Street LONDON W1W 7AY Tel: +44(0)20-7927 6200 Fax: +44(0)20-3205 0043 Email: h.petrie@carfax-education.com Website: www.carfax-education.com Contact: Mrs Hayley Petrie Head of Operations Business Activity: Educational consultancy and private tuition

Corinthia Hotel London Whitehall Place LONDON SW1A 2BD Tel: +44(0)20-7930 8181/ Dir +44(0)20-7321 3030 Email: corina.goetz@corinthia.com Website: www.corinthia.com/london Contact: Mrs Corina Geotz Head of Middle Eastern Sales Business Activity: Hotel

Dar Al-Hekma College PO Box 34801 Jeddah 21478 SAUDI ARABIA Tel: +966 2 630-3333 Fax: +966 2 631 6270 Email: sabedin@dah.edu.sa; sraquib@dah. edu.sa Website: www.dah.edu.sa Contact: Dr Saleha Abedin Vice Dean Business Activity: Higher education institution offering degree programmes that meet national and international accreditation standards

ARAB-BRITISH CHAMBER OF COMMERCE

Flying Formations Limited

Idis Limited

222 Regent Street LONDON W1B 5TR Fax: +44(0)20-7183 3227 Email: qad@flyingformations.com Website: www.flyingformations.com Contact: Mr Qad Raja Business Manager Business Activity: Company formation services and company registration for private limited companies in the UK

Idis House Churchfield Road WEYBRIDGE Surrey KT13 8DB Tel: +44(0)1932-824152 Fax: +44(0)1932 824 200 Email: rcoyle@idispharma.com Website: www.www.idispharma.com Contact: Mr Robert Coyle Logistics Customs Specialist Business Activity: Pharmaceuticals suppliers

Garth Coates Solicitors

Ma Maison Interiors

9 Dacre Street LONDON SW1H 0DJ Tel: +44(0)20-7799 1600 / +44(0)20-7799 1609 Fax: +44(0)20-7222 7441 Email: info@garthcoates.com Website: www.garthcoates.com Contact: Mr Garth Coates Partner Business Activity: UK Immigration Law for corporate and private clients; advises investors, entrepreneurs. sales representatives and UK companies recruiting overseas personnel

Gate No.5, Al Aali Complex PO Box 5229 Manama BAHRAIN Tel: +973 17 587787 / 703121 Fax: +973 17 580877/ 703073 Email: nassarts@batelco.com.bh; nassarts@ gmail.com Website: www.nassthegroup.com.bh Contact: Mrs Feryal Abdulla Ahmed Nass Chairman Business Activity: Interior design solutions, furniture suppliers, lighting, wallpaper & home accessories

Glob Marketing Limited

Magrun Limited

Maple House High Street POTTERS BAR EN6 5BS Tel: +44(0)20-3129 7718 Fax: +44(0)20-3137 0654 Email: info@globmarketing.com; abuhamzeh@globmarketing.com Website: www.globmarketing.com Contact: Mr Christian Hami Marketing Manager Business Activity: Trading in dairy products, meat and cleaning materials

39 Miles Way LONDON N20 0BZ Tel: +44 7915 666902 Fax: +44(0)20 8368 0337 Email: info@magrun.com Website: www.magrun.com Contact: Mr Alan Magrun General Director Business Activity: Construction in commercial and residential buildings

HiBreeds International Limited The Grange 62 Spixworth Road Old Catton NORWICH NR6 7NF Tel: +44(0)1603-482 444 Fax: +44(0)1603-482 611 Email: nick@hatching-eggs.com Website: www.hatching-eggs.com Contact: Mr Nicholas Chandler Managing Director Business Activity: Export of broiler hatching eggs throughout Middle East

MENA Capital LLP 2nd Floor 25 Ives Street LONDON SW3 2ND Tel: +44(0)20-7594 0160 Fax: +44(0)20-7594 0169 Email: kmajeed@menacap.com Website: www.menacap.com Contact: Mr Khaled Abdel Majeed Managing Partner Business Activity: Investment management focused on the Middle East & North Africa

Dr Mohammad Al-Hezzani Centre 5th Floor, Building No. 841 King Fahad Road Riyadh PO Box 8245 SAUDI ARABIA Tel: +966 1 4169436 Fax: +966 1 4169437 Email: dralhezzani@dralhezzanilawyer.com; dralhezzanilawyer@gmail.com Website: www.dralhezzanilawyer.com Contact: Dr Mohammad Al-Hezzani General Director Business Activity: Legal consultant and law firm

Montaha Couture Avenues Mall Phase II - First Round Kuwait KUWAIT Tel: +965 22597093 Email: mm.alajeel@ymail.com Website: www.montahacouture.com Contact: Miss Montaha Al-Ajeel Proprietor Business Activity: Fashion designer; robes and accessories noted for the unique use of fabrics from different parts of the world

Mosul Chamber Of Commerce PO Box 35 Khalid Ibn Al-Waleed Mosul IRAQ Tel: +964 6 03542 Email: obaeyahmed@yahoo.com Contact: Mr Obaey Ahmed Business Activity: Chamber of Commerce

Muslim Aid 38-44 Whitechapel Road LONDON E1 1JX Tel: +44(0)20-7377 4200 Email: salman@muslimaid.org Website: www.muslimaid.org Contact: Mr Salman Mujtaba Corporate Fundraising Business Activity: Charity

Omega (UK) Holdings Limited Trevelyan House 7 Church Road WELWYN GARDEN CITY Hertfordshire AL8 6NT Tel: +44(0)1707-373 330 Fax: +44(0)1707-373 345 Email: abubaker@megerisi.com; tim.evans@ omegagroup.co.uk; Megerisi@aol.com; hazem.megerisi.@omegagroup.co.u Website: www.omegagroup.co.uk Contact: Mr Tim Evans Director Business Activity: Property, cold storage manufacture, engineering, webhosting IT continued page 90

ECONOMIC FOCUS CHAMBER NEWS

from page 89

Personal Transition Services Limited 7-9 North Saint David Street EDINBURGH Scotland EH2 1AW Email: admin@ptsgp.co.uk Website: www.ptsgp.co.uk Contact: Ms Jeanette McRoberts UK Manager Business Activity: Concierge services operating from its office within Basrah Airport terminal. Hotel reservation in Basrah, Iraq visa services and flight reservation through Qatar Airways

PRIME Instant Offices & Business Centre WLL PO Box 3214 Manama BAHRAIN Tel: +973 17 570 400 Fax: +973 17 532 259 Email: contact@primeinstantoffices.com; munira@primeinstantoffices.com;emma@ primeinstantoffices.com Website: www.primeinstantoffices.com Contact: Mrs Munira Fahoum Zu’bi CEO Business Activity: An affiliated partner of the Ministry of Industry & Commerce. Business support services: company registration and renewal, serviced and registered offices, virtual office services, video conferencing, accounting, bookkeeping and payroll, visa processing and related services, document clearing, corporate secretarial services and corporate sponsorship.

RamJet Aviation Support 401A BC4 RAK Free Zone PO Box 11487 Ras Al Khaimah UNITED ARAB EMIRATES Tel: +971 7 227 8808 Fax: +971 7 227 8848 Email: mervat@ramjet.aero Website: www.ramjet.aero Contact: Miss Mervat Sultan Finance Manager Business Activity: Elite services for the aviation market

Randox Health Finsbury House 23 Finsbury Circus LONDON EC2M 7EA Tel: +44(0)20-7628-6278 Email: info@randoxhealthlondon.com Website: www.randoxhealthlondon.com Contact: Ms Alena Zinkovskaia Business Development Executive Business Activity: Clinical diagnostic solutions and health screening

RE/MAX Prestige 25a Crawford Street LONDON W1H 1PL Tel: +44(0)20-3195 5400 Email: Nevine.Abdelwahab@remax.co.uk; mohamed.abdelwahab@remax.co.uk Website: www.remax-prestige.co.uk Contact: Mr Mohamed Abdelwahab Director Business Activity: Comprehensive property agency service offering professional assistance on residential sales, lettings, property management, property search and real estate investment

Risk Reward Limited First Floor, 60 Moorgate LONDON EC2R 6EL Tel: +44(0)20-7638 5558 Email: op@riskrewardlimited.com; dwc@ riskrewardlimited.com; op@riskrewardlimited. com; lm@riskrewardlimited Website: www.riskrewardlimited.com Contact: Mr Denis Cox CEO Business Activity: Risk advisory and management training

Royal Society of Chemistry Thomas Graham House Science Park Milton Road CAMBRIDGE Cambridgeshire CB4 0WF Tel: +44(0)1223-432637 Email: govans@rsc.org Website: www.rsc.org Contact: Mr Stuart Govan International Project Manager (ME & Russia) Business Activity: Professional association for chemical sciences; members’ services

7 Seeds PO Box 2026 Sharjah UNITED ARAB EMIRATES Fax: +971 50 868 4000 Email: info@aishaalshamsi7seeds.com Website: www.aishaalshamsi7seeds.com Contact: Mrs Aisha Al Shamsi Designer and Owner Business Activity: Fashion designer

TAG Cosmetics Limited PO Box 324 Omdurman 14411 SUDAN Tel: +249 187 555876 Fax: +249 187 554480 Email: info@taggroup-sd.com; taggroup@ hotmail.com Website: www.taggroup-sd.com Contact: Mr Mohammad Tag Chairman Business Activity: Trading in Henna (Lawsonia) industry, cosmetics, essential oils, chemicals and general trade

Trinéire Architects and Interior Designs 384 Lee High Road Lee Green LONDON SE12 8RW Tel: +44(0)20 8297 4144/8728 Email: info@trineire.com; angela@trineire. com Website: www.trineire.com Contact: Mrs Angela Aston Interior Designer Business Activity: Interior Designers

University of Wolverhampton – Middle East Regional Office Knowledge Oasis KOM2 Office 02118 Muscat 124 Rusayl OMAN Tel: +368 2 4448679 Email: h.almasheri@wlv.ac.uk; alexandrina@ wlv.ac.uk Website: www.wlv.ac.uk Contact: Mr Hilal Almasheri Middle East Regional Manager Business Activity: Higher education services

Vanner Perez Notaries 8 St Thomas Street LONDON SE1 9RS Tel: +44(0)20-3668 6626 Email: james@vpnotaries.co.uk Website: www.vpnotaries.co.uk Contact: Mr James Vanner Partner Business Activity: Notary public

Associate Members Laith Al-Hilfi Palladium House 1-4 Argyll Street LONDON W1F 7LD Email: laithhilfi@gmail.com Business Activity: Accountant

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‫‪ ECONOMIC FOCUS CHAMBER NEWS‬‬

‫ ‪ARAB-BRITISH CHAMBER OF COMMERCE‬‬

‫ﻣﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ )‪(Muslim Aid‬‬ ‫ﻟﻘﺪ ﺩﻣﺮ ﺍﻟﺼﺮﺍﻉ ﺍﻟﺪﺍﺋﺮ ﻓﻲ ﺳﻮﺭﻳﺎ ﺧﻼﻝ ﺍﻟﻌﺎﻣﻴﻦ ﺍﻟﻤﺎﺿﻴﻴﻦ ﺣﻴﺎﺓ ﺍﻟﻤﻼﻳﻴﻦ ﻣﻦ ﺍﻟﺴﻮﺭﻳﻴﻦ‪ ،‬ﺣﻴﺚ ﺗﺴﺒﺐ ﻓﻲ ﻣﻘﺘﻞ ﺃﻛﺜﺮ ﻣﻦ‬ ‫‪ ٠٠٠,١٠٠‬ﺷﺨﺼﺎ ً‪ ،‬ﺑﻴﻨﻬﻢ ﻋﺪﺩ ﻛﺒﻴﺮ ﻣﻦ ﺍﻟﻨﺴﺎء ﻭﺍﻷﻁﻔﺎﻝ‪ ،‬ﻭﺗﻬﺠﻴﺮ ﺃﻛﺜﺮ ﻣﻦ ‪ ٤‬ﻣﻼﻳﻴﻦ ﺳﻮﺭﻱ ﻣﻦ ﻣﻨﺎﺯﻟﻬﻢ‪ ،‬ﻭﻟﺠﻮء‬ ‫ﺣﻮﺍﻟﻲ ﻣﻠﻴﻮﻧﻲ ﺳﻮﺭﻱ ﺇﻟﻰ ﺍﻟﺒﻠﺪﺍﻥ ﺍﻟﻤﺠﺎﻭﺭﺓ ﻣﺜﻞ ﺗﺮﻛﻴﺎ ﻭﺍﻷﺭﺩﻥ ﻭﻟﺒﻨﺎﻥ ﻭﺍﻟﻌﺮﺍﻕ‪.‬‬ ‫ﻣﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﻫﻲ ﻣﺆﺳﺴﺔ ﺧﻴﺮﻳﺔ ﺗﺄﺳﺴﺖ ﻋﺎﻡ ‪١٩٨٥‬ﻡ‪ ،‬ﺗﻌﻤﻞ ﻋﻠﻰ ﺍﻟﺘﺨﻔﻴﻒ ﻣﻦ ﺣﺪﺓ ﺍﻟﻔﻘﺮ‪ ،‬ﻭﺗﻮﻓﻴﺮ ﺍﻹﻏﺎﺛﺔ‬ ‫ﺍﻟﻄﺎﺭﺋﺔ ﻟﻠﻤﺠﺘﻤﻌﺎﺕ ﺍﻟﻤﺤﺘﺎﺟﺔ ﻓﻲ ﺃﻛﺜﺮ ﻣﻦ ‪ ٧٠‬ﺑﻠﺪﺍ ً ﻣﻦ ﺧﻼﻝ ﻣﻜﺎﺗﺒﻬﺎ ﺍﻟﻤﻴﺪﺍﻧﻴﺔ‪ ،‬ﻭﺍﻟﻤﻨﻈﻤﺎﺕ ﺍﻟﺸﺮﻳﻜﺔ ﻓﻲ ﺟﻤﻴﻊ ﺃﻧﺤﺎء ﺍﻟﻌﺎﻟﻢ‪.‬‬ ‫ﻭﺗﻌﺘﻤﺪ ﻫﺬﻩ ﺍﻟﻤﺆﺳﺴﺔ ﺍﻟﺨﻴﺮﻳﺔ ﻋﻠﻰ ﺍﻟﺤﻠﻮﻝ ﺍﻟﻤﺴﺘﺪﺍﻣﺔ ﻭﺍﻟﻤﺤﻠﻴﺔ ﻭﺍﻟﻌﻤﻠﻴﺔ ﻟﺘﻤﻜﻴﻦ ﺍﻷﻓﺮﺍﺩ‪ ،‬ﻭﺗﻌﺰﻳﺰ ﺍﻟﻤﺠﺘﻤﻌﺎﺕ ﺍﻟﻤﺤﻠﻴﺔ‪.‬‬ ‫ﻭﺗﺴﻌﻰ ﻣﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﻣﻨﺬ ﻧﺸﺄﺗﻬﺎ ﻟﺨﺪﻣﺔ ﺍﻹﻧﺴﺎﻧﻴﺔ ﺑﻤﺎ ﻳﺘﻼءﻡ ﻣﻊ ﻣﺒﺎﺩﺉ ﺍﻹﺳﻼﻡ‪.‬‬

‫ﻣﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ )‪(Muslim Aid‬‬

‫ﻟﻘﺪ ﺩﻣﺮ ﺍﻟﺼﺮﺍﻉ ﺍﻟﺪﺍﺋﺮ ﻓﻲ ﺳﻮﺭﻳﺎ ﺧﻼﻝ ﺍﻟﻌﺎﻣﻴﻦ ﺍﻟﻤﺎﺿﻴﻴﻦ ﺣﻴﺎﺓ ﺍﻟﻤﻼﻳﻴﻦ ﻣﻦ ﺍﻟﺴﻮﺭﻳﻴﻦ‪ ،‬ﺣﻴﺚ ﺗﺴﺒﺐ ﻓﻲ ﻣﻘﺘﻞ ﺃﻛﺜﺮ ﻣﻦ‬ ‫‪ ٠٠٠,١٠٠‬ﺷﺨﺼﺎ ً‪ ،‬ﺑﻴﻨﻬﻢ ﻋﺪﺩ ﻛﺒﻴﺮ ﻣﻦ ﺍﻟﻨﺴﺎء ﻭﺍﻷﻁﻔﺎﻝ‪ ،‬ﻭﺗﻬﺠﻴﺮ ﺃﻛﺜﺮ ﻣﻦ ‪ ٤‬ﻣﻼﻳﻴﻦ ﺳﻮﺭﻱ ﻣﻦ ﻣﻨﺎﺯﻟﻬﻢ‪ ،‬ﻭﻟﺠﻮء‬ ‫ﺣﻮﺍﻟﻲ ﻣﻠﻴﻮﻧﻲ ﺳﻮﺭﻱ ﺇﻟﻰ ﺍﻟﺒﻠﺪﺍﻥ ﺍﻟﻤﺠﺎﻭﺭﺓ ﻣﺜﻞ ﺗﺮﻛﻴﺎ ﻭﺍﻷﺭﺩﻥ ﻭﻟﺒﻨﺎﻥ ﻭﺍﻟﻌﺮﺍﻕ‪.‬‬

‫ﺑﻘﻠﻖ ﺷﺪﻳﺪ‪ ،‬ﻭﻣﺎ ﺃﻥ ﺗﻔﺸّﺖ ﻣﻈﺎﻫﺮ‬ ‫ﻣﻨﺬ ﺑﺪﺍﻳﺔ ﺍﻟﺼﺮﺍﻉ ﺍﻟﺴﻮﺭﻱ ﻛﺎﻧﺖ ﻣﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﺗﺮﺍﻗﺐ ﺍﻟﻮﺿﻊ ﺍﻹﻧﺴﺎﻧﻲ‬ ‫ٍ‬ ‫ﺍﻟﻌﻨﻒ‪ ،‬ﺟﻌﻠﺖ ﺍﻟﻤﻨﻈﻤﺔ ﺇﻏﺎﺛﺔ ﺍﻟﺸﻌﺐ ﺍﻟﺴﻮﺭﻱ ﻓﻲ ﺃﻭﻟﻮﻳﺎﺗﻬﺎ‪ .‬ﻭﻗﺪ ﺍﺳﺘﻄﺎﻋﺖ ﻣﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﺧﺪﻣﺔ ﻣﺎ ﻳﻘﺮﺏ ﻣﻦ‬ ‫‪ ٠٠٠,٩٦‬ﺳﻮﺭﻱ ﻣﻦ ﺧﻼﻝ ﺗﻮﺯﻳﻊ ﻣﻮﺍﺩ ﺍﻹﻏﺎﺛﺔ ﺍﻟﻼﺯﻣﺔ ﻣﺜﻞ ﺍﻟﻤﻮﺍﺩ ﺍﻟﻐﺬﺍﺋﻴﺔ ﻭﺗﺄﻣﻴﻦ ﺍﻟﺮﻋﺎﻳﺔ ﺍﻟﺼﺤﻴﺔ‪ ،‬ﻭﺗﻮﻓﻴﺮ ﻣﻴﺎﻩ‬ ‫ﺍﻟﺸﺮﺏ‪ .‬ﻭﺑﺪﻋﻢ ﺳﺨﻲ ﻣﻦ ﺍﻟﻤﺎﻧﺤﻴﻦ‪ ،‬ﺍﺳﺘﻄﺎﻋﺖ ﺍﻟﻤﻜﺎﺗﺐ ﺍﻟﻤﻴﺪﺍﻧﻴﺔ ﻟﻤﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﻓﻲ ﺍﻷﺭﺩﻥ ﻭﻟﺒﻨﺎﻥ ﻭﺍﻟﻌﺮﺍﻕ‪،‬‬ ‫ﺗﻮﻓﻴﺮ ﺍﻹﻏﺎﺛﺔ ﺍﻟﻄﺎﺭﺋﺔ ﻟﺘﻐﻄﻴﺔ ﺍﻟﺤﺎﺟﺎﺕ ﺍﻟﻤﻠﺤﺔ ﻷﻛﺜﺮ ﻣﻦ ‪ ٠٠٠,٦٦‬ﻻﺟﺊ ﺳﻮﺭﻱ‪ .‬ﻭﻗﺪ ﻗﺪﻣﺖ ﻣﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ‬ ‫ﺃﻳﻀﺎ ً ﻣﻦ ﺧﻼﻝ ﺷﺮﻛﺎﺋﻬﺎ ﻣﺴﺎﻋﺪﺍﺕ ﻁﺎﺭﺋﺔ ﺇﻟﻰ ﺣﻮﺍﻟﻲ‪ ٠٠٠,٣٠‬ﺳﻮﺭﻱ ﺩﺍﺧﻞ ﺳﻮﺭﻳﺎ‪ .‬ﻭﻋﻼﻭﺓ ﻋﻠﻰ ﺫﻟﻚ‪ ،‬ﺗﺒﺮﻋﺖ ﻣﻨﻈﻤﺔ‬ ‫ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﺑﺂﻻﺕ ﺍﻟﻤﺨﺎﺑﺰ ﻟﻠﻤﺴﺎﻫﻤﺔ ﻓﻲ ﺇﻧﺸﺎء ﻣﺨﺒﺰ ﺁﻟﻲ ﺩﺍﺧﻞ ﻣﺨﻴﻢ ﺍﻟﺤﺴﻴﺒﺔ ﻓﻲ ﺍﻟﻌﺮﺍﻕ‪ ،‬ﺍﻷﻣﺮ ﺍﻟﺬﻱ ﺳﻮﻑ‬ ‫ﻳﺴﺎﻋﺪ ﻋﻠﻰ ﺧﻠﻖ ﻓﺮﺹ ﻋﻤﻞ ﻭﺗﻮﻓﻴﺮ ﺳﺒﻞ ﺍﻟﻌﻴﺶ ﻟﻼﺟﺌﻴﻦ ﺍﻟﺴﻮﺭﻳﻴﻦ‪.‬‬

‫ﺩﻣﺮ ﺍﻟﺼﺮﺍﻉ ﺍﻟﺪﺍﺋﺮ ﻓﻲ ﺳﻮﺭﻳﺎ ﺧﻼﻝ ﺍﻟﻌﺎﻣﻴﻦ ﺍﻟﻤﺎﺿﻴﻴﻦ ﺣﻴﺎﺓ ﺍﻟﻤﻼﻳﻴﻦ ﻣﻦ ﺍﻟﺴﻮﺭﻳﻴﻦ‪ ،‬ﺣﻴﺚ ﺗﺴﺒﺐ ﻓﻲ ﻣﻘﺘﻞ ﺃﻛﺜ‬ ‫‪ ٠٠٠,١‬ﺷﺨﺼﺎً‪ ،‬ﺑﻴﻨﻬﻢ ﻋﺪﺩ ﻛﺒﻴﺮ ﻣﻦ ﺍﻟﻨﺴﺎء ﻭﺍﻷﻁﻔﺎﻝ‪ ،‬ﻭﺗﻬﺠﻴﺮ ﺃﻛﺜﺮ ﻣﻦ ‪ ٤‬ﻣﻼﻳﻴﻦ ﺳﻮﺭﻱ ﻣﻦ ﻣﻨﺎﺯﻟﻬﻢ‪ ،‬ﻭﻟﺠﻮ‬ ‫ﺍﻟﻲ ﻣﻠﻴﻮﻧﻲ ﺳﻮﺭﻱ ﺇﻟﻰ ﺍﻟﺒﻠﺪﺍﻥ ﺍﻟﻤﺠﺎﻭﺭﺓ ﻣﺜﻞ ﺗﺮﻛﻴﺎ ﻭﺍﻷﺭﺩﻥ ﻭﻟﺒﻨﺎﻥ ﻭﺍﻟﻌﺮﺍﻕ‪.‬‬ ‫ﻣﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﻫﻲ ﻣﺆﺳﺴﺔ ﺧﻴﺮﻳﺔ ﺗﺄﺳﺴﺖ ﻋﺎﻡ ‪١٩٨٥‬ﻡ‪ ،‬ﺗﻌﻤﻞ ﻋﻠﻰ ﺍﻟﺘﺨﻔﻴﻒ ﻣﻦ ﺣﺪﺓ ﺍﻟﻔﻘﺮ‪ ،‬ﻭﺗﻮﻓﻴﺮ ﺍﻹﻏﺎﺛﺔ‬ ‫ﺍﻟﻄﺎﺭﺋﺔ ﻟﻠﻤﺠﺘﻤﻌﺎﺕ ﺍﻟﻤﺤﺘﺎﺟﺔ ﻓﻲ ﺃﻛﺜﺮ ﻣﻦ ‪ ٧٠‬ﺑﻠﺪﺍ ً ﻣﻦ ﺧﻼﻝ ﻣﻜﺎﺗﺒﻬﺎ ﺍﻟﻤﻴﺪﺍﻧﻴﺔ‪ ،‬ﻭﺍﻟﻤﻨﻈﻤﺎﺕ ﺍﻟﺸﺮﻳﻜﺔ ﻓﻲ ﺟﻤﻴﻊ ﺃﻧﺤﺎء ﺍﻟﻌﺎﻟﻢ‪.‬‬ ‫ﻭﺗﻌﺘﻤﺪ ﻫﺬﻩ ﺍﻟﻤﺆﺳﺴﺔ ﺍﻟﺨﻴﺮﻳﺔ ﻋﻠﻰ ﺍﻟﺤﻠﻮﻝ ﺍﻟﻤﺴﺘﺪﺍﻣﺔ ﻭﺍﻟﻤﺤﻠﻴﺔ ﻭﺍﻟﻌﻤﻠﻴﺔ ﻟﺘﻤﻜﻴﻦ ﺍﻷﻓﺮﺍﺩ‪ ،‬ﻭﺗﻌﺰﻳﺰ ﺍﻟﻤﺠﺘﻤﻌﺎﺕ ﺍﻟﻤﺤﻠﻴﺔ‪.‬‬ ‫ﻭﺗﺴﻌﻰ ﻣﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﻣﻨﺬ ﻧﺸﺄﺗﻬﺎ ﻟﺨﺪﻣﺔ ﺍﻹﻧﺴﺎﻧﻴﺔ ﺑﻤﺎ ﻳﺘﻼءﻡ ﻣﻊ ﻣﺒﺎﺩﺉ ﺍﻹﺳﻼﻡ‪.‬‬ ‫ﺑﻘﻠﻖ ﺷﺪﻳﺪ‪ ،‬ﻭﻣﺎ ﺃﻥ ﺗﻔﺸّﺖ ﻣﻈﺎﻫﺮ‬ ‫ﻣﻨﺬ ﺑﺪﺍﻳﺔ ﺍﻟﺼﺮﺍﻉ ﺍﻟﺴﻮﺭﻱ ﻛﺎﻧﺖ ﻣﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﺗﺮﺍﻗﺐ ﺍﻟﻮﺿﻊ ﺍﻹﻧﺴﺎﻧﻲ‬ ‫ٍ‬ ‫ﺍﻟﻌﻨﻒ‪ ،‬ﺟﻌﻠﺖ ﺍﻟﻤﻨﻈﻤﺔ ﺇﻏﺎﺛﺔ ﺍﻟﺸﻌﺐ ﺍﻟﺴﻮﺭﻱ ﻓﻲ ﺃﻭﻟﻮﻳﺎﺗﻬﺎ‪ .‬ﻭﻗﺪ ﺍﺳﺘﻄﺎﻋﺖ ﻣﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﺧﺪﻣﺔ ﻣﺎ ﻳﻘﺮﺏ ﻣﻦ‬ ‫‪ ٠٠٠,٩٦‬ﺳﻮﺭﻱ ﻣﻦ ﺧﻼﻝ ﺗﻮﺯﻳﻊ ﻣﻮﺍﺩ ﺍﻹﻏﺎﺛﺔ ﺍﻟﻼﺯﻣﺔ ﻣﺜﻞ ﺍﻟﻤﻮﺍﺩ ﺍﻟﻐﺬﺍﺋﻴﺔ ﻭﺗﺄﻣﻴﻦ ﺍﻟﺮﻋﺎﻳﺔ ﺍﻟﺼﺤﻴﺔ‪ ،‬ﻭﺗﻮﻓﻴﺮ ﻣﻴﺎﻩ‬ ‫ﺍﻟﺸﺮﺏ‪ .‬ﻭﺑﺪﻋﻢ ﺳﺨﻲ ﻣﻦ ﺍﻟﻤﺎﻧﺤﻴﻦ‪ ،‬ﺍﺳﺘﻄﺎﻋﺖ ﺍﻟﻤﻜﺎﺗﺐ ﺍﻟﻤﻴﺪﺍﻧﻴﺔ ﻟﻤﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﻓﻲ ﺍﻷﺭﺩﻥ ﻭﻟﺒﻨﺎﻥ ﻭﺍﻟﻌﺮﺍﻕ‪،‬‬ ‫ﺗﻮﻓﻴﺮ ﺍﻹﻏﺎﺛﺔ ﺍﻟﻄﺎﺭﺋﺔ ﻟﺘﻐﻄﻴﺔ ﺍﻟﺤﺎﺟﺎﺕ ﺍﻟﻤﻠﺤﺔ ﻷﻛﺜﺮ ﻣﻦ ‪ ٠٠٠,٦٦‬ﻻﺟﺊ ﺳﻮﺭﻱ‪ .‬ﻭﻗﺪ ﻗﺪﻣﺖ ﻣﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ‬ ‫ﺃﻳﻀﺎ ً ﻣﻦ ﺧﻼﻝ ﺷﺮﻛﺎﺋﻬﺎ ﻣﺴﺎﻋﺪﺍﺕ ﻁﺎﺭﺋﺔ ﺇﻟﻰ ﺣﻮﺍﻟﻲ‪ ٠٠٠,٣٠‬ﺳﻮﺭﻱ ﺩﺍﺧﻞ ﺳﻮﺭﻳﺎ‪ .‬ﻭﻋﻼﻭﺓ ﻋﻠﻰ ﺫﻟﻚ‪ ،‬ﺗﺒﺮﻋﺖ ﻣﻨﻈﻤﺔ‬ ‫ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﺑﺂﻻﺕ ﺍﻟﻤﺨﺎﺑﺰ ﻟﻠﻤﺴﺎﻫﻤﺔ ﻓﻲ ﺇﻧﺸﺎء ﻣﺨﺒﺰ ﺁﻟﻲ ﺩﺍﺧﻞ ﻣﺨﻴﻢ ﺍﻟﺤﺴﻴﺒﺔ ﻓﻲ ﺍﻟﻌﺮﺍﻕ‪ ،‬ﺍﻷﻣﺮ ﺍﻟﺬﻱ ﺳﻮﻑ‬ ‫ﻳﺴﺎﻋﺪ ﻋﻠﻰ ﺧﻠﻖ ﻓﺮﺹ ﻋﻤﻞ ﻭﺗﻮﻓﻴﺮ ﺳﺒﻞ ﺍﻟﻌﻴﺶ ﻟﻼﺟﺌﻴﻦ ﺍﻟﺴﻮﺭﻳﻴﻦ‪.‬‬

‫ﻟﺪﻯ ﻣﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﻣﺸﺎﺭﻳﻊ ﺟﺎﻫﺰﺓ ﻣﻦ ﺃﺟﻞ ﺇﻋﺎﻧﺔ ﺍﻟﻤﺤﺘﺎﺟﻴﻦ ﺍﻟﺴﻮﺭﻳﻴﻦ ﻓﻲ ﻟﺒﻨﺎﻥ ﻭﺍﻷﺭﺩﻥ ﻭﺍﻟﻌﺮﺍﻕ ﻭﺗﺮﻛﻴﺎ‬ ‫ﻭﺍﻟﺪﺍﺧﻞ ﺍﻟﺴﻮﺭﻱ‪ ،‬ﻭﻫﻲ ﺍﻵﻥ ﺗﺤﺘﺎﺝ ﺩﻋﻤﻜﻢ ﺍﻟﻤﺎﻟﻲ )ﺯﻛﺎﺓ ﻭﺻﺪﻗﺎﺕ…(‪ ،‬ﻭﻣﺴﺘﻌﺪﻭﻥ ﻹﺭﺳﺎﻟﻬﺎ ﺇﻟﻴﻜﻢ ﺣﻴﻦ ﻁﻠﺒﻜﻢ‪ .‬ﻣﻦ ﺧﻼﻝ‬ ‫ﺩﻋﻤﻜﻢ ﻭ ﺗﺒﺮﻋﺎﺗﻜﻢ ﺳﺘﺴﺘﻄﻴﻊ ﻣﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﻣﺪ ﻳﺪ ﺍﻟﻌﻮﻥ ﺇﻟﻰ ﺁﻻﻑ ﺍﻟﺴﻮﺭﻳﻴﻦ ﺍﻟﺬﻳﻦ ﻫﻢ ﺑﺄﻣﺲ ﺍﻟﺤﺎﺟﺔ ﺇﻟﻰ‬ ‫ﺍﻟﻤﺴﺎﻋﺪﺓ‪ .‬ﺇﻥ ﻣﺸﺎﺭﻳﻌﻨﺎ ﻓﻲ ﺳﻮﺭﻳﺎ ﺗﻌﺘﻤﺪ ﻛﻠﻴﺎ ً ﻋﻠﻰ ﺗﺒﺮﻋﺎﺗﻜﻢ ﺍﻟﺴﺨﻴﺔ‪.‬‬ ‫ﻳﻤﻜﻨﻜﻢ ﺍﻟﺘﺒﺮﻉ ﻋﺒﺮ ﺍﻟﻮﺳﺎﺋﻞ ﺍﻟﺘﺎﻟﻴﺔ‪:‬‬

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‫ﺍﻻﺗﺼﺎﻝ ﺑﻤﻜﺘﺒﻨﺎ ﻋﻠﻰ ﺍﻟﺮﻗﻢ ﺍﻟﺨﺎﺹ ﻹﺳﺘﻘﺒﺎﻝ ﺇﺗﺼﺎﻻﺗﻜﻢ ﺑﺎﻟﻠﻐﺔ ﺍﻟﻌﺮﺑﻴﺔ‪(++44) 207 377 4200 :‬‬

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‫ﻣﻦ ﺧﻼﻝ ﻣﻮﻗﻌﻨﺎ ﺍﻷﻟﻜﺘﺮﻭﻧﻲ ‪/https://ramadan.muslimaid.org:‬‬

‫ﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﻫﻲ ﻣﺆﺳﺴﺔ ﺧﻴﺮﻳﺔ ﺗﺄﺳﺴﺖ ﻋﺎﻡ ‪١٩٨٥‬ﻡ‪ ،‬ﺗﻌﻤﻞ ﻋﻠﻰ ﺍﻟﺘﺨﻔﻴﻒ ﻣﻦ ﺣﺪﺓ ﺍﻟﻔﻘﺮ‪ ،‬ﻭﺗﻮﻓﻴﺮ ﺍﻹﻏ‬ ‫ﺎﺭﺋﺔ ﻟﻠﻤﺠﺘﻤﻌﺎﺕ ﺍﻟﻤﺤﺘﺎﺟﺔ ﻓﻲ ﺃﻛﺜﺮ ﻣﻦ ‪ ٧٠‬ﺑﻠﺪﺍً ﻣﻦ ﺧﻼﻝ ﻣﻜﺎﺗﺒﻬﺎ ﺍﻟﻤﻴﺪﺍﻧﻴﺔ‪ ،‬ﻭﺍﻟﻤﻨﻈﻤﺎﺕ ﺍﻟﺸﺮﻳﻜﺔ ﻓﻲ ﺟﻤﻴﻊ ﺃﻧﺤﺎء‬ ‫ﺘﻤﺪ ﻫﺬﻩ ﺍﻟﻤﺆﺳﺴﺔ ﺍﻟﺨﻴﺮﻳﺔ ﻋﻠﻰ ﺍﻟﺤﻠﻮﻝ ﺍﻟﻤﺴﺘﺪﺍﻣﺔ ﻭﺍﻟﻤﺤﻠﻴﺔ ﻭﺍﻟﻌﻤﻠﻴﺔ ﻟﺘﻤﻜﻴﻦ ﺍﻷﻓﺮﺍﺩ‪ ،‬ﻭﺗﻌﺰﻳﺰ ﺍﻟﻤﺠﺘﻤﻌﺎﺕ ﺍﻟﻤﺤﻠ‬ ‫ﺴﻌﻰ ﻣﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﻣﻨﺬ ﻧﺸﺄﺗﻬﺎ ﻟﺨﺪﻣﺔ ﺍﻹﻧﺴﺎﻧﻴﺔ ﺑﻤﺎ ﻳﺘﻼءﻡ ﻣﻊ ﻣﺒﺎﺩﺉ ﺍﻹﺳﻼﻡ‪.‬‬ ‫ﻟﺪﻯ ﻣﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﻣﺸﺎﺭﻳﻊ ﺟﺎﻫﺰﺓ ﻣﻦ ﺃﺟﻞ ﺇﻋﺎﻧﺔ ﺍﻟﻤﺤﺘﺎﺟﻴﻦ ﺍﻟﺴﻮﺭﻳﻴﻦ ﻓﻲ ﻟﺒﻨﺎﻥ ﻭﺍﻷﺭﺩﻥ ﻭﺍﻟﻌﺮﺍﻕ ﻭﺗﺮﻛﻴﺎ‬ ‫ﻭﺍﻟﺪﺍﺧﻞ ﺍﻟﺴﻮﺭﻱ‪ ،‬ﻭﻫﻲ ﺍﻵﻥ ﺗﺤﺘﺎﺝ ﺩﻋﻤﻜﻢ ﺍﻟﻤﺎﻟﻲ )ﺯﻛﺎﺓ ﻭﺻﺪﻗﺎﺕ…(‪ ،‬ﻭﻣﺴﺘﻌﺪﻭﻥ ﻹﺭﺳﺎﻟﻬﺎ ﺇﻟﻴﻜﻢ ﺣﻴﻦ ﻁﻠﺒﻜﻢ‪ .‬ﻣﻦ ﺧﻼﻝ‬ ‫ﺩﻋﻤﻜﻢ ﻭ ﺗﺒﺮﻋﺎﺗﻜﻢ ﺳﺘﺴﺘﻄﻴﻊ ﻣﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﻣﺪ ﻳﺪ ﺍﻟﻌﻮﻥ ﺇﻟﻰ ﺁﻻﻑ ﺍﻟﺴﻮﺭﻳﻴﻦ ﺍﻟﺬﻳﻦ ﻫﻢ ﺑﺄﻣﺲ ﺍﻟﺤﺎﺟﺔ ﺇﻟﻰ‬ ‫ﺍﻟﻤﺴﺎﻋﺪﺓ‪ .‬ﺇﻥ ﻣﺸﺎﺭﻳﻌﻨﺎ ﻓﻲ ﺳﻮﺭﻳﺎ ﺗﻌﺘﻤﺪ ﻛﻠﻴﺎ ً ﻋﻠﻰ ﺗﺒﺮﻋﺎﺗﻜﻢ ﺍﻟﺴﺨﻴﺔ‪.‬‬

‫‪EmergencyAppeal R13 Syria.pdf 1 12/07/2013 12:49:24‬‬

‫ﻳﻤﻜﻨﻜﻢ ﺍﻟﺘﺒﺮﻉ ﻋﺒﺮ ﺍﻟﻮﺳﺎﺋﻞ ﺍﻟﺘﺎﻟﻴﺔ‪:‬‬ ‫‪‬‬

‫‪‬‬

‫ﻣﻦ ﺧﻼﻝ ﻣﻮﻗﻌﻨﺎ ﺍﻷﻟﻜﺘﺮﻭﻧﻲ ‪/https://ramadan.muslimaid.org:‬‬

‫ﺑﻘﻠﻖ ﺷﺪﻳﺪ‪ ،‬ﻭﻣﺎ ﺃﻥ ﺗﻔﺸّﺖ ﻣﻈﺎﻫ‬ ‫ﺑﺪﺍﻳﺔ ﺍﻟﺼﺮﺍﻉ ﺍﻟﺴﻮﺭﻱ ﻛﺎﻧﺖ ﻣﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﺗﺮﺍﻗﺐ ﺍﻟﻮﺿﻊ ﺍﻹﻧﺴﺎﻧﻲ‬ ‫ٍ‬ ‫ﻒ‪ ،‬ﺟﻌﻠﺖ ﺍﻟﻤﻨﻈﻤﺔ ﺇﻏﺎﺛﺔ ﺍﻟﺸﻌﺐ ﺍﻟﺴﻮﺭﻱ ﻓﻲ ﺃﻭﻟﻮﻳﺎﺗﻬﺎ‪ .‬ﻭﻗﺪ ﺍﺳﺘﻄﺎﻋﺖ ﻣﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﺧﺪﻣﺔ ﻣﺎ ﻳﻘﺮﺏ‬ ‫‪ ٠٠٠,‬ﺳﻮﺭﻱ ﻣﻦ ﺧﻼﻝ ﺗﻮﺯﻳﻊ ﻣﻮﺍﺩ ﺍﻹﻏﺎﺛﺔ ﺍﻟﻼﺯﻣﺔ ﻣﺜﻞ ﺍﻟﻤﻮﺍﺩ ﺍﻟﻐﺬﺍﺋﻴﺔ ﻭﺗﺄﻣﻴﻦ ﺍﻟﺮﻋﺎﻳﺔ ﺍﻟﺼﺤﻴﺔ‪ ،‬ﻭﺗﻮﻓﻴﺮ ﻣﻴ‬ ‫ﺮﺏ‪ .‬ﻭﺑﺪﻋﻢ ﺳﺨﻲ ﻣﻦ ﺍﻟﻤﺎﻧﺤﻴﻦ‪ ،‬ﺍﺳﺘﻄﺎﻋﺖ ﺍﻟﻤﻜﺎﺗﺐ ﺍﻟﻤﻴﺪﺍﻧﻴﺔ ﻟﻤﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﻓﻲ ﺍﻷﺭﺩﻥ ﻭﻟﺒﻨﺎﻥ ﻭﺍﻟﻌ‬ ‫ﻴﺮ ﺍﻹﻏﺎﺛﺔ ﺍﻟﻄﺎﺭﺋﺔ ﻟﺘﻐﻄﻴﺔ ﺍﻟﺤﺎﺟﺎﺕ ﺍﻟﻤﻠﺤﺔ ﻷﻛﺜﺮ ﻣﻦ ‪ ٠٠٠,٦٦‬ﻻﺟﺊ ﺳﻮﺭﻱ‪ .‬ﻭﻗﺪ ﻗﺪﻣﺖ ﻣﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼ‬ ‫ﻀﺎ ً ﻣﻦ ﺧﻼﻝ ﺷﺮﻛﺎﺋﻬﺎ ﻣﺴﺎﻋﺪﺍﺕ ﻁﺎﺭﺋﺔ ﺇﻟﻰ ﺣﻮﺍﻟﻲ‪ ٠٠٠,٣٠‬ﺳﻮﺭﻱ ﺩﺍﺧﻞ ﺳﻮﺭﻳﺎ‪ .‬ﻭﻋﻼﻭﺓ ﻋﻠﻰ ﺫﻟﻚ‪ ،‬ﺗﺒﺮﻋﺖ ﻣ‬ ‫ﻮﻥ ﺍﻹﺳﻼﻣﻲ ﺑﺂﻻﺕ ﺍﻟﻤﺨﺎﺑﺰ ﻟﻠﻤﺴﺎﻫﻤﺔ ﻓﻲ ﺇﻧﺸﺎء ﻣﺨﺒﺰ ﺁﻟﻲ ﺩﺍﺧﻞ ﻣﺨﻴﻢ ﺍﻟﺤﺴﻴﺒﺔ ﻓﻲ ﺍﻟﻌﺮﺍﻕ‪ ،‬ﺍﻷﻣﺮ ﺍﻟﺬﻱ ﺳﻮﻑ‬ ‫‪Syria‬‬ ‫ﻋﺪ ﻋﻠﻰ ﺧﻠﻖ ﻓﺮﺹ ﻋﻤﻞ ﻭﺗﻮﻓﻴﺮ ﺳﺒﻞ ﺍﻟﻌﻴﺶ ﻟﻼﺟﺌﻴﻦ ﺍﻟﺴﻮﺭﻳﻴﻦ‪.‬‬ ‫‪C‬‬

‫‪M‬‬

‫‪Y‬‬

‫‪CM‬‬

‫‪MY‬‬

‫‪CY‬‬

‫‪CMY‬‬

‫‪Emergency.‬‬

‫‪K‬‬

‫‪Over‬ﻭﺍﻟﻌﺮﺍﻕ ﻭﺗﺮﻛ‬ ‫ﻭﺍﻷﺭﺩﻥ‬ ‫ﻯ ﻣﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﻣﺸﺎﺭﻳﻊ ﺟﺎﻫﺰﺓ ﻣﻦ ﺃﺟﻞ ﺇﻋﺎﻧﺔ ﺍﻟﻤﺤﺘﺎﺟﻴﻦ ﺍﻟﺴﻮﺭﻳﻴﻦ ﻓﻲ ﻟﺒﻨﺎﻥ‬ ‫‪4 million Syrians are in urgent need of humanitarian assistance. Faced with hardship and uncertainty, the month of Ramadan will bring‬‬ ‫‪further challenges, as millions will have little or no food to eat. With your support we can reach out to the vulnerable, sick and wounded with‬‬ ‫ﺇﻟﻴﻜﻢ‪food‬‬ ‫‪and essentials,‬‬ ‫‪delivering‬‬ ‫‪the care they need،to‬‬ ‫ﻭﺻﺪﻗﺎﺕ ‪help‬‬ ‫‪them through Ramadan‬‬ ‫ﺪﺍﺧﻞ ﺍﻟﺴﻮﺭﻱ‪ ،‬ﻭﻫﻲ ﺍﻵﻥ ﺗﺤﺘﺎﺝ ﺩﻋﻤﻜﻢ ‪beyond.‬‬ ‫ﺣﻴﻦ ﻁﻠﺒﻜﻢ‪ .‬ﻣﻦ‬ ‫ﻹﺭﺳﺎﻟﻬﺎ‬ ‫ﻭﻣﺴﺘﻌﺪﻭﻥ‬ ‫…(‬ ‫ﺍﻟﻤﺎﻟﻲ‪)and‬ﺯﻛﺎﺓ‬ ‫‪Donate‬‬ ‫‪now‬‬ ‫ﺑﺄﻣﺲ ﺍﻟﺤﺎﺟﺔ ﺇﻟﻰ‬ ‫ﺍﻟﺬﻳﻦ ﻫﻢ‬ ‫ﻤﻜﻢ ﻭ ﺗﺒﺮﻋﺎﺗﻜﻢ ﺳﺘﺴﺘﻄﻴﻊ ﻣﻨﻈﻤﺔ ﺍﻟﻌﻮﻥ ﺍﻹﺳﻼﻣﻲ ﻣﺪ ﻳﺪ ﺍﻟﻌﻮﻥ ﺇﻟﻰ ﺁﻻﻑ ﺍﻟﺴﻮﺭﻳﻴﻦ‬ ‫‪muslimaid.org | 020 7377 4200‬‬ ‫ﺴﺎﻋﺪﺓ‪ .‬ﺇﻥ ﻣﺸﺎﺭﻳﻌﻨﺎ ﻓﻲ ﺳﻮﺭﻳﺎ ﺗﻌﺘﻤﺪ ﻛﻠﻴﺎ ً ﻋﻠﻰ ﺗﺒﺮﻋﺎﺗﻜﻢ ﺍﻟﺴﺨﻴﺔ‪.‬‬ ‫‪MuslimAid‬‬

‫‪@Muslim_Aid‬‬ ‫‪MuslimAidUK‬‬

‫‪Muslim Aid PO Box 3 London E1 1WP / Charity Reg: 295224‬‬

‫ﻨﻜﻢ ﺍﻟﺘﺒﺮﻉ ﻋﺒﺮ ﺍﻟﻮﺳﺎﺋﻞ ﺍﻟﺘﺎﻟﻴﺔ‪:‬‬

ECONOMIC FOCUS CHAMBER NEWS

“Our family has worked hard to ensure the true Italian traditions remain at our restaurants. Our staff are part of the family and we’re proud to welcome TV Celebrity Chef, Aldo Zilli to the team.” Aldo Zilli | Celebrity Chef

Carlo Distefano | Chairman

14 Knightsbridge Green, London SW1X 7QL Tel: 0207 584 2277 www.signorsassi.co.uk signorsassi@sancarlo.co.uk PRIVATE ROOM AVAILABLE

215 Piccadilly London W1J 9HL Tel: 0207 494 9435 www.sancarlocicchetti.co.uk piccadillycicchetti@sancarlo.co.uk

AWARD WINNING RESTAURANTS

@SignorSassi

@CicchettiLondon

Signor Sassi and San Carlo Cicchetti ARE NOT THEMED RESTAURANTS. With Italian directors, management and chefs, using the finest fresh produce; the majority of ingredients are imported from the markets of Milan. Each restaurant displays its own unique style in food due to the individuality of our creative chefs and management supervised by the directors. Signor Sassi | London Kuwait Beirut Bangkok

Arab British chamber of commerce- Economic Focus HSV2.indd 1

Cicchetti | London Manchester

04/04/2013 16:48

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CARFAX

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teacher recruitment and training.

+�� or +�� OXFORD LONDON MONACO DUBAI MOSCOW ST PETERSBURG BAKU

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‫ﺍﻟﻌﺪﺩ ﺍﻟﺜﺎﻧﻲ‪ ،‬ﺍﻟﻤﺠﻠﺪ ‪ ،8‬ﺻﻴﻒ ‪2013‬‬

‫ﻏﺮﻓﺔ ﺍﻟﺘﺠﺎﺭﺓ ﺍﻟﻌﺮﺑﻴﺔ ﺍﻟﺒﺮﻳﻄﺎﻧﻴﺔ‬

‫‪Arab-British Chamber of Commerce‬‬

‫‪43 Upper Grosvenor Street‬‬ ‫‪London W1K 2NJ‬‬ ‫‪Tel: +44 (0) 20 7235 4363‬‬ ‫‪Fax: +44 (0) 20 7245 6688‬‬ ‫‪economicfocus@abcc.org.uk‬‬

‫‪www.abcc.org.uk‬‬

‫"ﺃﺿﻮﺍء ﻋﻠﻰ ﻗﻀﺎﻳﺎ ﺍﻟﻌﻼﻗﺎﺕ ﺍﻟﻌﺮﺑﻴﺔ‪-‬ﺍﻟﺒﺮﻳﻄﺎﻧﻴﺔ"‬ ‫ﻣﺠﻠﺔ ﺍﻗﺘﺼﺎﺩﻳﺔ ﻣﻦ ﺇﺻﺪﺍﺭﺍﺕ ﻏﺮﻓﺔ ﺍﻟﺘﺠﺎﺭﺓ‬ ‫ﺍﻟﻌﺮﺑﻴﺔ ﺍﻟﺒﺮﻳﻄﺎﻧﻴﺔ ﻓﻲ ﻟﻨﺪﻥ‬

‫ﻣﺤﺘــــــــﻮﻳﺎﺕ ﺍﻟــــــﻌﺪﺩ‬ ‫ﺗﻘﺎﺭﻳﺮ ﺧﺎﺻﺔ‬ ‫‬‫‬‫‬‫‬‫‬‫‬‫‬‫‪-‬‬

‫ﻣﻘﺎﺑﻠﺔ ﺻﺤﻔﻴﺔ‪ :‬ﻣﺠﻠﺔ ﻏﺮﻓﺔ ﺍﻟﺘﺠﺎﺭﺓ ﺍﻟﻌﺮﺑﻴﺔ ﺍﻟﺒﺮﻳﻄﺎﻧﻴﺔ ﺗﺘﺤﺪﺙ ﻣﻊ ﺷﺮﻛﺔ "ﺭﺍﻳﺪﺭ ﻟﻴﻔﻴﺖ‬ ‫ﺑﺎﻛﻨﺎﻝ" ﻟﻠﺒﻨﺎء ﻭﺍﻻﺳﺘﺸﺎﺭﺍﺕ ﺍﻟﻌﻘﺎﺭﻳﺔ‬ ‫ﺍﻟﻤﻤﻠﻜﺔ ﺍﻟﻌﺮﺑﻴﺔ ﺍﻟﺴﻌﻮﺩﻳﺔ ﻟﻴﺴﺖ ﻣﺠﺮﺩ ﺳﻮﻕ ﺁﺧﺮﻯ ﻟﻠﺼﺎﺩﺭﺍﺕ‬ ‫ﺍﻟﺮﻋﺎﻳﺔ ﺍﻟﺼﺤﻴﺔ ﺍﻟﻮﻗﺎﺋﻴﺔ‪ :‬ﻭﺟﻬﺔ ﻧﻈﺮ ﺧﺎﺻﺔ ﺣﻮﻝ ﺍﻟﺴﻤﻨﺔ ﻭﻣﺮﺽ ﺍﻟﺴﻜﺮﻱ‬ ‫ﻣﻤﺎﺭﺳﺔ ﺍﻷﻋﻤﺎﻝ ﺍﻟﺘﺠﺎﺭﻳﺔ ﻓﻲ ﺍﻟﺒﺤﺮﻳﻦ‬ ‫ﺗﻐﻴﻴﺮﺍﺕ ﻗﺎﻧﻮﻥ ﺿﺮﺍﺋﺐ ﺍﻟﻤﻤﻠﻜﺔ ﺍﻟﻤﺘﺤﺪﺓ ﺑﺨﺼﻮﺹ ﺍﻟﻤﻠﻜﻴﺔ ﻟﻐﻴﺮ ﺍﻟﻤﻘﻴﻤﻴﻦ‬ ‫ﻣﻘﺎﺑﻠﺔ ﺻﺤﻔﻴﺔ‪ :‬ﻣﺠﻠﺔ ﻏﺮﻓﺔ ﺍﻟﺘﺠﺎﺭﺓ ﺍﻟﻌﺮﺑﻴﺔ ﺍﻟﺒﺮﻳﻄﺎﻧﻴﺔ ﺗﺘﺤﺪﺙ ﻣﻊ ﺷﺮﻛﺔ ﻣﺎﻛﺲ ﺭﻱ ﻟﻠﻌﻘﺎﺭﺍﺕ‬ ‫ﺍﻟﻔﺎﺧﺮﺓ‬ ‫ﺍﻟﻤﺴﺢ ﺍﻻﻗﺘﺼﺎﺩﻱ ﺍﻟﻔﺼﻠﻲ‬ ‫ﺍﻟﺨﺒﺮﺍﺕ ﻭﺍﻟﺘﻌﻠﻴﻢ‪ :‬ﺗﻘﺮﻳﺮ ﺧﺎﺹ‬

‫ﺃﺧﺒﺎﺭ ﻭﻧﺸﺎﻁﺎﺕ ﺍﻟﻐﺮﻓﺔ‬ ‫ ﻧﺸﺎﻁﺎﺕ ﺍﻟﻐﺮﻓﺔ‬‫‪ -‬ﺃﻋﻀﺎء ﺟﺪﺩ‬

‫ﺍﻟﺘﻘﺮﻳﺮ ﺍﻻﻗﺘﺼﺎﺩﻱ ﺍﻟﻌﺮﺑﻲ‬ ‫‬‫‬‫‬‫‬‫‬‫‬‫‬‫‬‫‪-‬‬

‫ﺷﺮﺍء ﺍﻟﻌﻘﺎﺭﺍﺕ ﺍﻟﺴﻜﻨﻴﺔ ﻭﺍﻟﺘﺠﺎﺭﻳﺔ ﻓﻲ ﺍﻟﻤﻤﻠﻜﺔ ﺍﻟﻤﺘﺤﺪﺓ‪ :‬ﺩﻟﻴﻞ ﻣﻮﺟﺰ ﻟﻠﻤﺸﺘﺮﻳﻦ ﻓﻲ ﺍﻟﺨﺎﺭﺝ‬ ‫ﺍﻟﺘﻐﻴﻴﺮﺍﺕ ﺍﻷﺧﻴﺮﺓ ﻋﻠﻰ ﻗﺎﻧﻮﻥ ﺍﻹﻗﺎﻣﺔ ﻭﻋﻼﻗﺘﺔ ﺑﺎﻟﻀﺮﻳﺒﺔ ﻓﻲ ﺍﻟﻤﻤﻠﻜﺔ ﺍﻟﻤﺘﺤﺪﺓ‪ :‬ﻟﻤﺤﺔ ﻣﻮﺟﺰﺓ‬ ‫ﻗﻤﺔ ﺩﻭﻝ ﺍﻟﺜﻤﺎﻥ ﻭﺷﺮﺍﻛﺔ "ﺩﻭﻓﻴﻞ" ﻣﻊ ﺍﻟﺪﻭﻝ ﺍﻟﻌﺮﺑﻴﺔ ﻓﻲ ﺍﻟﻤﺮﺣﻠﺔ ﺍﻹﻧﺘﻘﺎﻟﻴﺔ‬ ‫ﺍﻟﻐﺮﻓﺔ ﺗﺴﺘﻀﻴﻒ "ﺍﻟﻤﻨﺘﺪﻯ ﺍﻻﻗﺘﺼﺎﺩﻱ ﺍﻟﺜﺎﻧﻲ ﻟﻠﻤﺮﺃﺓ ﺍﻟﻌﺮﺑﻴﺔ ﻓﻲ ﺍﻻﻗﺘﺼﺎﺩ ﺍﻟﻌﺎﻟﻤﻲ"‬ ‫ﺍﺟﺘﻤﺎﻉ ﻟﻨﺪﻥ ‪ -‬ﺇﻳﻄﺎﻟﻴﺎ ﻭﺩﻭﻝ ﺍﻟﺸﺮﻕ ﺍﻷﻭﺳﻂ ﻓﻲ ﺿﻴﺎﻓﺔ ﺍﻟﻐﺮﻓﺔ‬ ‫ﻳﻮﻡ ﺍﻟﺘﺠﺎﺭﺓ ﻓﻲ ﻟﻴﺒﻴﺎ‪ :‬ﺭﺅﻳﺔ ﺟﺪﻳﺪﺓ ﻟﻮﺍﻗﻊ ﺟﺪﻳﺪ‬ ‫ﻏﺮﻓﺔ ﺍﻟﺘﺠﺎﺭﺓ ﺍﻟﻌﺮﺑﻴﺔ ﺍﻟﺒﺮﻳﻄﺎﻧﻴﺔ ﺗﺴﺘﻀﻴﻒ ﻭﻓﺪ ﺃﻋﻤﺎﻝ ﻗﻄﺮﻱ‬ ‫ﻛﻠﻴﺔ ﺩﺍﺭ ﺍﻟﺤﻜﻤﺔ ﻭﺍﻟﻐﺮﻓﺔ ﺗﻮﻗﻌﺎﻥ ﻣﺬﻛﺮﺓ ﺗﻔﺎﻫﻢ‬ ‫ﺍﻟﻐﺮﻓﺔ ﺗﺴﺘﻀﻴﻒ ﻧﺪﻭﺓ ﻋﻦ ﻓﺮﺹ ﺍﻟﺘﺠﺎﺭﺓ ﻭﺍﻻﺳﺘﺜﻤﺎﺭ ﻓﻲ ﺗﻮﻧﺲ‬

‫ﺣﻘﻮﻕ ﺍﻟﻨﺸﺮ‬ ‫‪4‬‬ ‫‪12‬‬ ‫‪20‬‬ ‫‪24‬‬ ‫‪30‬‬ ‫‪34‬‬ ‫‪60‬‬ ‫‪41‬‬ ‫‪70‬‬ ‫‪92‬‬ ‫‪129‬‬ ‫‪124‬‬ ‫‪121‬‬ ‫‪113‬‬ ‫‪109‬‬ ‫‪106‬‬ ‫‪102‬‬ ‫‪101‬‬ ‫‪100‬‬

‫ﺗﺤﺘﻔﻆ ﻏﺮﻓﺔ ﺍﻟﺘﺠﺎﺭﺓ ﺍﻟﻌﺮﺑﻴﺔ – ﺍﻟﺒﺮﻳﻄﺎﻧﻴﺔ ﺑﺤﻘﻮﻕ‬ ‫ﺍﻟﻨﺸﺮ ﻟﻠﻤﻌﻠﻮﻣﺎﺕ ﺍﻟﺘﻲ ﺗﺤﺘﻮﻳﻬﺎ ﻫﺬﻩ ﺍﻟﻤﺠﻠﺔ‪ ،‬ﻭﻻ‬ ‫ﻳﺤﻖ ﻷﻱ ﺟﻬﺔ ﺃﺧﺮﻯ ﺇﻋﺎﺩﺓ ﺃﻧﺘﺎﺟﻬﺎ ﺃﻭ ﺇﻋﺎﺩﺓ‬ ‫ﺻﻴﺎﻏﺘﻬﺎ ﺃﻭ ﺇﻋﺎﺩﺓ ﺗﻮﺯﻳﻌﻬﺎ ﺍﻟﻜﻠﻲ ﺃﻭ ﺍﻟﺠﺰﺋﻲ ﺑﺪﻭﻥ‬ ‫ﻣﻮﺍﻓﻘﺔ ﻣﺒﺎﺷﺮﺓ ﻣﻦ ﻏﺮﻓﺔ ﺍﻟﺘﺠﺎﺭﺓ ﺍﻟﻌﺮﺑﻴﺔ‬ ‫ﺍﻟﺒﺮﻳﻄﺎﻧﻴﺔ‪.‬‬

‫ﻓﺮﻳﻖ ﺍﻟﻤﺤﺮﺭﻳﻦ‬

‫ﻋﺒﺪ ﺍﻟﺴﻼﻡ ﺍﻹﺩﺭﻳﺴﻲ‪ ،‬ﻛﻠﻴﻒ ﻟﻮﺭﺍﻧﺲ‪ ،‬ﺩﻳﻔﻴﺪ‬ ‫ﻣﻮﺭﻛﺎﻥ‪ ،‬ﺩ‪ .‬ﻳﺎﺳﻤﻴﻦ ﺣﺴﻴﻦ‬

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Welcome to PRIME Instant Offices & Business Centre Much more than Serviced Offices… PRIME was the first company in Bahrain to provide serviced offices and business support services to foreign companies. We have continued to develop our specialist business services, and we have a very comprehensive list serving our client’s needs well. Our competitors can’t match our breadth of local knowledge and expertise when it comes to company registration, visa processing, or making the right connections and our corporate sponsorship and representation on behalf of our clients to various government bodies is something you’re unlikely to find elsewhere. 100% locally owned, 100% international service levels. PRIME’s status as an Affiliated Partner of the Ministry of Industry & Commerce brings many advantages most

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importantly licensing us to provide approved registered office addresses. In conjunction with our association with one of Bahrain’s leading law firms, Zu’bi & Partners, we are able to fast-track company registrations and renewals. You can be sure that we will get the job done to a high standard every time, delivering the flexibility, value and efficiency your business demands. Today, we number many leading international companies among our clients, particularly from the IT, energy, construction and banking sectors. If you’re looking to start a company, we can help with everything from registration to liquidation – and all aspects inbetween. Not only can we make the whole process faster, we’ll make sure your budget goes further.

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