Forbes Magazine - Qatar Feature by Intermedia

Experience Qatar Dynamic and Diversified Growth

Qatar is an exciting, fast growing nation – no matter what criteria you use – and its $130 billion infrastructure project boom hasn’t even begun. While non-hydrocarbon GDP is expected to be near double digits in coming years, largely fuelled by the manufacturing, construction, trade, hospitality, and government services sectors, the population is growing steadily – driven by an influx of expatriates – jumping 7.5 percent in 2012 to 1.83 million people. The National Development Strategy (2011-16) didn’t expect the country to reach that level until 2014. While expansion in the hydrocarbon sector has driven growth over the past decade, the next ten years will be powered by a broad range of infrastructure projects in areas such as transportation and hospitality in preparation for Qatar’s hosting nearly 400,000 fans attending the 2022 FIFA World Cup, as well as other efforts to diversify the country’s economy. The longest running of these efforts is the significant investment in education, innovation, science and research that seeks to set a solid foundation for the country’s transformation to a knowledge-based economy. Reprinted from the Qatar Feature that appeared in the March 2013 issue of Forbes

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Experience Qatar

Qatar Powers Forward, Fueled by Education and Economic Diversification According to the IMF, Qatar’s economic outlook “remains strong with robust nonhydrocarbon growth.” In addition, it says, the banking system continues to be “highly capitalized and profitable.”

Developing Human Capital

Her Highness Sheikha Moza bint Nasser

n 2012, Qatar’s population surged more than 7.5% to 1.83 million. While that growth rate is significant in its own right, it’s even more dramatic considering that Qatar’s National Development Strategy (2011-16) didn’t expect the country to reach that level until 2014. What’s more, this growth shows no signs of slowing. Double-digit growth over the past decade has largely been driven by expansion in the hydrocarbon sector, where infrastructure spending and capacity growth is now leveling off. However, the non-hydrocarbon component of the economy is expected to drive growth at nearly double-digit levels for at least the next decade. The International Monetary Fund (IMF) predicts non-hydrocarbon growth of 9% to 10% over the medium term, fueled in particular by manufacturing, construction, trade, hospitality and government services. To ensure controlled growth, Qatar is staggering its numerous infrastructure projects, which are valued at approximately $130 billion, according to the General Secretariat for Development Planning (GSDP). Construction on some key government projects is set to begin this year, while some of the biggest infrastructure projects— designed to help prepare Qatar to host the 2022 FIFA World Cup—won’t begin until the middle of this decade.

With these strong fundamentals, Qatar’s mission is to continue its 15 years of significant investment in education, innovation, science and research, and broadbased economic diversification—all part of its drive to become a knowledgebased economy. “It is through education that the collective mind of the community is formed. It is with education that we draw the features of the future: a future that should always be new and innovative,” Her Highness Sheikha Moza bint Nasser, wife of the Emir of Qatar, UNESCO Special Envoy for Basic and Higher Education, and member of the UN Millennium Development Goals Advocacy Group, said at a recent education conference.

“Because We Can, We Must” One of the most important entities helping drive this effort is Qatar Foundation for Education, Science and Community Development (QF), founded in 1995 and chaired by Sheikha Moza. Through its activities, Qatar Foundation is creating a continuum of human capital and knowledge formation that begins with early education and goes on to cuttingedge graduate research and next-generation technology commercialization. This includes a dynamic research ecosystem in Qatar that has links around the world. But Qatar also is committed to contributing to global efforts to address poverty, support economic development and promote education. It does this in many ways, including through its hosting of the 8th World Chambers Congress this coming April. Another significant example is “Educate a Child,” the global initiative launched this past fall

by Sheikha Moza, which seeks to bring quality education to children affected by extreme poverty, conflict and displacement. Speaking at the launch, Sheikha Moza said: “Right across the world, because of disaster, because of poverty, children are being denied a chance to change their destinies. We can change this, and because we can, we must.” The passion and determination conveyed by these words is seen again and again within Qatar’s multifaceted development activities, whether at home or in communities around the world.

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H.E. Sheikh Khalifa Bin Jassim Bin Mohammed Al Thani, Chairman, and Mr. Remy Rowhani, Director General of Qatar Chamber H.E. Sheikh Abdullah Bin Saoud Al Thani, Governor of the Qatar Central Bank H.E. Abdulla bin Khalid Al Qahtani, Minister of Health and Secretary General of the Supreme Council of Health Mr. Faisal M. Alsuwaidi, President of Research and Development at Qatar Foundation Dr. Mohammad Fathy Saoud, Vice Chair of Sidra’s Board of Governors and President of Qatar Foundation, and Dr. William F. Owen Jr., MD, FACP, Research Center H.E. Dr. Mohammed Bin Saleh Al-Sada, Minister of Energy and Industry, Chairman and Managing Director of Qatar Petroleum Sheikh Khalid bin Khalifa Al-Thani, Mr. Bart Cahir, President and General Manager of ExxonMobil Qatar Inc. Katara Hospitality’s Landmark Properties Sheikh Nawaf Bin Jassim Bin Jabor Al-Thani, Chairman of Katara Hospitality Mr. Ebrahim Al-Sulaiti, Chief Executive Group Chief Executive

Abdulla Abdulaziz Turki Al-Subaie

Intermedia, Dubai. Project Directors: Vivienne Davidson and Amy Boeker www.forbescustom.com/qatar2013

Qatar Chamber

Welcoming the World to a Wealth of Opportunities explains Remy Rowhani, Director General of the Qatar Chamber.

A Prime Location

H.E. SHEIKH KHALIFA BIN JASSIM BIN MOHAMMED AL THANI Chairman of Qatar Chamber

“O

pportunity” is the overriding message from the Qatar Chamber regarding the International Chamber of Commerce (ICC) World Chambers Federation (WCF) 8th World Chambers Congress, which it is hosting April 22–25 in Doha. Organized every two years by the ICC WCF, the Congress is the biggest international gathering of chambers of commerce from across the globe. “We are honored to host this prestigious international gathering of business and chamber leaders, and look forward to the privilege of welcoming delegates to our country and the Middle East. I believe that the Congress in Doha will contribute importantly to the growth, progress and achievements of chambers and their members around the world,” says His Excellency Sheikh Khalifa Bin Jassim Bin Mohammed Al Thani, Chairman of Qatar Chamber. Launched in 1963, Qatar Chamber has more than 33,000 members, primarily small and medium-size companies. Its primary areas of focus are trade and the promotion of gender equality. In trade, it helps members grow their businesses domestically and prepares them for export markets. In pursuing gender equality, the Chamber is “putting its resources toward making sure that women are qualified, empowered and given equal rights, opportunities and privileges as men,”

With the Congress coming to the Middle East for the first time, Qatar Chamber is looking to leverage Doha’s convenient and central global location to introduce the world to the massive opportunities in Qatar, as well as throughout the other countries of the Gulf Cooperation Council (GCC) and the wider Middle East. “We consider this to be an extremely good opportunity to expose Qatar to the world and to bring GCC opportunities to the world,” says Rowhani. One such opportunity in Qatar is the planned infrastructure investment of approximately $130 billion between 2012 and 2019, according to the General Secretariat for Development Planning. New opportunities in Qatar are made even more attractive by recent liberalization in the areas of foreign investment, public-private partnerships, company establishment and government tenders, including 100% foreign ownership in sectors such as business consulting, technical services, IT, distribution services, and cultural, sport and leisure services. Meanwhile, the opportunities across the GCC include more than $1 trillion in infrastructure projects that are in the design, bid or construction stage through 2037, according to Zawya Projects Monitor. Rowhani further notes that the GCC as an economic bloc has the potential to be the fifth largest in the world by 2020.

A Truly Unprecedented Event Delegates and exhibitors at this year’s Congress also will benefit from the design and scale of the event, Rowhani says: “The opportunities for business that we are providing have never been seen in this manner at any other Congress.” “Since its inception in 1919, ICC, as the world business organization, has maintained the simple, guiding belief that trade among nations leads to

prosperity and peace. In today’s fragile world economy, the Congress aims to convey how the benefits of an integrated world economy can be harnessed for the good of companies, people and local economies everywhere,” says Jean-Guy Carrier, Secretary General of ICC. This year 50 chambers of commerce from among the world’s least-developed nations will be among the participants. “This has been done to offer an exceptional degree of inclusiveness and capacity-building potential, reaching out to nations most in need of help from the world chambers family,” Rowhani explains. More than 2,000 delegates are expected to attend, making this the largest Congress to date, with participants coming from as far away as South America and as nearby as the neighboring Gulf countries. Furthermore, while the majority of previous

MR. REMY ROWHANI Director General of Qatar Chamber

Congress delegates were often from the host country, “most of the 2,000 delegates this year are coming from abroad, since we are so small,” Rowhani says. The Congress additionally will take place in the Qatar National Convention Centre, the largest exhibition space to ever have been used for a World Chambers Congress. The total booked exhibition space for the Congress is more than 10,000 square meters and continues to grow. It will include country pavilions and stands presenting major projects,

individual companies and national chambers. “Everyone is here with a pavilion, bringing their SMEs (small and medium enterprises) and their technologies,” Rowhani says. Advanced technology will optimize networking at the event. This includes a custom-designed smartphone app that not only provides information on the Congress speakers and program, but also features a tool to help delegates request and set up one-on-one meetings with other participants and exhibiting companies. In their downtime, delegates—and their accompanying family members— will be able to enjoy 25 cultural and leisure activities. “We want to show that we are not simply a desert country with hot sun; we have beautiful weather and beautiful beaches. We will expose them to our culture, our traditions, our beautiful deserts,” says Rowhani. Ultimately, he adds, “We want people to know that Qatar is the place to have such an international gathering.”

Doha: A Regional Gateway Not only does Qatar have much to offer tourists, it also is “the new gateway for the businesses of the world to the rapidly growing Middle East and African markets,” according to Rowhani, who points to Doha’s convenient global location and its growing world-class airline, Qatar Airways, which now flies to more than 120 destinations. In addition, he notes, “Qatar is the fastest-growing economy today in the world, and it is one of the safest and most peaceful countries in the region. “There is so much opportunity—not only in Qatar but across the Middle East—that we need to take advantage of and that we need to bring to the attention of the global business community,” Rowhani says.

Invigorating the Doha Round As part of Qatar’s “commitment to helping shape a new trade agreement for the 21st century,” Rowhani explains, the 2013 Congress will feature the “ICC World Trade Agenda Summit” on the first day of the Congress. This one-day summit will pick up where the Doha Round stalled and “will inject a new vigor into making globalization an inclusive process,” he adds.

Qatar Chamber organizes the annual Made in Qatar expo

“The ICC World Trade Agenda Summit is an unprecedented opportunity for members of the business community to contribute to strengthening the rules-based multilateral trading system and reconfirm that global business is committed to the objectives of the World Trade Organization (WTO),” Carrier says.

“We consider this to be an extremely good opportunity to expose Qatar to the world and to bring GCC opportunities to the world.” —Mr. Remy Rowhani From Rowhani’s perspective, trade is crucial to economic development and a large part of the reason for Qatar’s sense of urgency in supporting a revitalization of WTO negotiations. As he explains, for less-developed countries, “Trade is the key to helping them become developed countries. Only trade can do that.” Meanwhile, he explains, a global trade agreement could help reverse three consecutive years of declining global GDP growth.

Sponsors Enable Success While Rowhani celebrates the Congress’s myriad opportunities, he is quick to point

out that many partners are contributing to the event’s success, including co-organizers like the International Chamber of Commerce (ICC) and the ICC World Chambers Federation, as well as Qatar Airways, the official carrier of the Congress. In addition, he proudly reports, “Some of the biggest corporations and companies in Qatar have joined hands with us.” Qatar National Bank provided its strategic sponsorship to the Congress, while other reputable companies such as Al Sraiya Holding Group, Qatari Diar, Qatar Petroleum and Commercialbank of Qatar signed up to become Diamond and Platinum sponsors of the Congress.

Opportunities Leave Legacies If “opportunity” defines the Congress for delegates, Rowhani views the Congress in terms of its lasting legacies. As he envisions, these will include the critical “personal networks and trade-building connections that will open vast business and development opportunities for the region; the lasting impression of Qatar created by showcasing its development and opportunities; and the Qatar Chamber’s greatly enhanced reputation as a promoter of ideas and trade possibilities for the countries and chambers of the visiting delegates.”

Qatar Central Bank

Best-Practice Supervision Enables Strong Financial Sector

ne of the most distinctive features of Qatar’s banking and finance sector is the sophistication of its regulatory environment and the variety of tools that authorities have developed to manage the market. These include Treasury Bill auctions to help manage liquidity in this hydrocarbon-rich nation of 1.83 million people, a credit bureau and a real estate price index.

The law also establishes the Financial Stability and Risk Control Committee, which facilitates coordination among the three regulators “as they develop and apply regulatory and supervisory policy and implement international standards and best practices consistent with the Qatar National Vision 2030 and Qatar National Development Strategy 2011–16,” explains His Excellency Sheikh Abdullah Bin Saoud Al Thani, Governor of the QCB. Under the new law, however, the QFMA remains responsible for the

The QCB regulates 17 commercial banks, including 10 domestically owned banks that account for approximately 90% of total banking assets. The collective balance sheet of the 17 banks is robust, with the overall capital adequacy ratio topping 20% at the end of September 2012

“Looking ahead, the key priorities for the QCB are to support Qatar’s ongoing economic diversity efforts in line with the Qatar National Vision, and to further develop the macroprudential and regulatory framework consistent with international best practice.” —H.E. Sheikh Abdullah Bin Saoud Al Thani

balance sheet of the 17 banks is robust, with the overall capital adequacy ratio topping 20% at the end of September 2012, while the level of delinquent loans was approximately 1.7%. This is happening in a macroeconomic environment where the economy grew by more than 17% in 2011 and by a projected 6.2% in 2012.

Tools of Stability Other recent noteworthy actions include a ruling that banks should raise their risk reserve ratios (concerning loans to the private sector) to 2% by the end of 2012 and to 2.5% by the end of this year. In 2011, the Qatar Central Bank (QCB) required that conventional banks close or divest their Islamic banking operations for fear that this could create system risk. But perhaps the most significant example of this sophistication came on December 2, 2012, when the new QCB Law was issued. It defines the relationship and responsibilities among the nation’s three regulators: the QCB, the Qatar Financial Markets Authority (QFMA) and the Qatar Financial Centre (QFC) Regulatory Authority. The law stipulates the QCB as the “competent supreme authority in framing the policies for the regulation and supervision of all financial services and markets in the State.”

H.E. SHEIKH ABDULLAH BIN SAOUD AL THANI Governor of the Qatar Central Bank

regulation and supervision of financial markets in Qatar; the QFC Regulatory Authority continues to authorize and supervise firms in the onshore QFC; and the QCB is responsible for banks and insurance companies.

A Robust Banking Sector Not surprisingly, banks in Qatar top the Arab banking chart in terms of return on assets, and some Qatari banks are ranked among the largest in the region, according to a recent report in The Banker magazine. The report also found that the banks have among the lowest global cost-to-income ratios. The QCB regulates 17 commercial banks, including 10 domestically owned banks that account for approximately 90% of total banking assets. The collective

Sheikh Abdullah Bin Saoud Al Thani says that in the context of Qatar’s rapidly growing economy and increasing demand for credit, the Credit Bureau provides lenders with valuable credit information about potential borrowers. This helps improve the quality of banks’ portfolios and lowers borrowing costs for creditworthy borrowers. Regarding the real estate price index, Sheikh Abdullah Bin Saoud Al Thani says it can “serve as an early-warning indicator” concerning overheating in the sector. Looking ahead, Sheikh Abdullah Bin Saoud Al Thani says the key priorities for the QCB are to support Qatar’s ongoing economic diversity efforts in line with the Qatar National Vision, and to further develop the macroprudential and regulatory framework consistent with international best practice. “We have been continuously fine-tuning our regulatory measures to comprehensively monitor and manage risks.”

Supreme Council of Health

Enhancing Healthcare in Qatar for a More Fit National Economy

H.E. ABDULLA BIN KHALID AL QAHTANI Minister of Health and Secretary General of the Supreme Council of Health

rapidly growing population impacts many areas of a country’s economy, but perhaps none as dramatically as healthcare. Given that Qatar is experiencing rapid economic development that has led to a near tripling of the population to 1.9 million people since 2000, public services, including healthcare, are under considerable pressure. Also contributing to a growing demand for hospitals and clinics is a sharp rise in lifestyle-related diseases such as diabetes, high blood pressure and obesity. To address this, the Supreme Council of Health (SCH), Qatar’s highest health authority, has established a clear vision for the nation’s healthcare strategy. It has set goals and objectives, and is developing policies, regulating the medical landscape, protecting public health, setting the health research agenda, and monitoring and evaluating progress toward achieving those objectives.

The Powerful Vision of the National Health Strategy 2011-2016 Giving further direction to this work is the National Health Strategy 20112016, which SCH developed and now is implementing under the guidance of its Vice Chairperson, Her Highness Sheikha Moza bint Nasser.

“Under the leadership of His Highness the Emir Sheikh Hamad bin Khalifa AlThani and His Highness Sheikh Tamim bin Hamad Al-Thani, Qatar has made great advances in improving healthcare and achieving socioeconomic development,” says His Excellency Abdulla bin Khalid Al Qahtani, Minister of Health and Secretary General of the SCH. Al Qahtani says that quality healthcare is “embedded in the country’s constitution.” It also is prominent in the Qatar National Vision 2030, which focuses in part on “a comprehensive world-class healthcare system whose services are accessible to the whole population.” This commitment has been supported by a rise in healthcare expenditure between 2010 and 2011 by 27% to $3.3 billion. According to the SCH, threequarters of that spending was funded by the government. Supreme Council of Health Building

The seven goals of the National Health Strategy 2011-2016 are: r Comprehensive, World-Class Healthcare System r Integrated System of Healthcare r Preventative Healthcare r Skilled National Workforce r National Health Policy r Effective and Affordable Services r High-Quality Research The strategy currently has 39 projects under way to aid in bringing these

goals to fruition. When achieved, these goals will transform the model of care in Qatar and bring to life Qatar’s vision of developing some of the world’s most advanced and high-quality tertiary care services, supported by world-class research and education.

Sector Reform and Opportunities A number of government-led reforms are transforming Qatar’s healthcare landscape. In February 2012, the Primary Health Care Corporation was established as an independent public corporation to develop an enhanced primary and preventative healthcare role in Qatar. In addition, the government is building several new secondary and tertiary public hospitals, and innovative publicprivate partnerships are taking shape across the healthcare landscape. A mandatory social health insurance system also will be implemented this year, providing all insured residents and expatriates with access to all public and private healthcare institutions. The result will be enhanced quality, access and equity. Other elements of the strategy include improved mental and occupational health care, nutrition, communicable disease prevention programs, noncommunicable disease screening, public health programs, disease management programs, e-health, research and education. Of course, no amount of infrastructure or regulation can guarantee good healthcare if there aren’t enough qualified clinical, technical and managerial personnel. Toward this end, the SCH is championing a dual-pronged strategy of local education and global recruitment to ensure sufficient support for the rapid expansion of services and facilities. As Al Qahtani explains, “Qatar’s healthcare sector will continue to provide opportunities for experienced and enterprising healthcare professionals for some time to come.”

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Qatar Foundation

Qatar’s Research Environment: Finding Solutions for Qatar and the World

atar, the small but gas-rich, ambitious and increasingly influential Gulf state, is looking to achieve something never before attempted: to create a vibrant R&D infrastructure and community—nearly from scratch. While this OPEC member benefits from its substantial hydrocarbon revenues—it annually commits 2.8% of government revenues to R&D—its success is not because of money. Rather, it has succeeded in achieving important original research in Qatar and creating buzz across the global research community because of its rigorous outcomes-focused approach to R&D funding and the development of the broader environment. Another key reason for Qatar’s global renown as a research hub is its commitment to funding R&D projects that have both direct relevance and application to Qatar and the region, while at the same time offering benefits applicable the world over.

MR. FAISAL M. ALSUWAIDI President of Research and Development at Qatar Foundation for Education, Science and Community Development

“In just a few years, Qatar has established several internationally competitive research institutes, trained a new generation of researchers and scientists, and built a national framework to support and guide the country’s ambitious science and research endeavors,” says Faisal M. Alsuwaidi, President of Research and Development at Qatar Foundation for Education, Science and Community Development.

Qatar National Research Strategy

Research is one of Qatar Foundation’s main priorities

This framework was further strengthened with the recent unveiling of the Qatar National Research Strategy, a “living document” that lays out a comprehensive policy covering all R&D activities in the country. It identifies and defines in detail five pillars: energy and environment; information and computing technology; health and related life sciences and technologies; social sciences, arts and humanities; and enterprise-wide interdisciplinary R&D. The strategy also articulates the complete R&D system and continuum within Qatar. The main components of this system include the Qatar National Research Fund (QNRF), which since 2006 has been making competitive research grants; and the Qatar Science & Technology Park (QSTP), home

to R&D-focused technology companies from around the world. Also part of the continuum are the many organizations in Qatar with R&D competencies, including Qatar University; the Hamad Medical Corporation; Qatar Foundation’s branch campuses of eight world-leading universities; Sidra Medical and Research Center, funded by a $7.9 billion endowment from Qatar Foundation, the largest endowment of a medical and research center anywhere in the world; and Qatar Foundation’s three distinct research institutes specializing in biomedicine, energy and the environment, and computing. All of these organizations attract leading international experts and researchers. Part of Qatar’s attraction, Alsuwaidi says, is the country’s vision “to be a leading center for research and development, excellence and innovation.”

The R&D Continuum The Qatar National Research Strategy articulates the interrelation of the various components of the R&D continuum, beginning with the strategy itself, which defines the priorities of the Qatar National Research Fund. The fund in turn provides financial resources to local and international researchers to conduct work that supports the country’s R&D objectives. QSTP then facilitates the commercialization of the research, while Qatar Foundation serves to provide ongoing monitoring and evaluation of the whole system. One very specific goal of the national research strategy is to support the National Cancer Research Strategy, which seeks to translate high-quality research into clinical studies that will improve prevention, treatment and patient care, thereby strengthening Qatar’s role as a leading center of cancer research. By successfully establishing this worldclass R&D ecosystem and supporting it with sustained funding, Qatar—and the world—will reap tremendous benefits.

Sidra Medical and Research Center Setting New Standards for World-Class Healthcare Delivery, Research and Education

DR. MOHAMMAD FATHY SAOUD Vice Chair of Sidra’s Board of Governors and President of Qatar Foundation for Education, Science and Community Development

hen it opens its doors in the near future, the 400-bed Sidra Medical and Research Center in Doha, Qatar, will delight patients with three towering atriums featuring indoor healing gardens visible from every natural-light-filled patient room. It will feature the most advanced clinical and diagnostic equipment, cuttingedge information management systems, and the most talented, highly regarded doctors, nurses, technicians and administrators from around the world. What you won’t find is the usual trail of paper files in this wireless and all-digital facility that is dedicated to supporting women’s and children’s health in three areas: patient care, research and medical education. There’s something else you won’t find: “the encumbrances of legacy,” says Sidra CEO Dr. William F. Owen Jr., who joined Sidra in July 2012. Sidra is creating an all-new approach to patient care, not only in terms of healthcare delivery, but in the maintenance of patient health for the people of Qatar, the Gulf region and the world.

Improving the Patient Experience Patients will receive a whole new standard of care that is reflected in the concept of “the Sidra way,” Dr. Owen explains.

A fundamental tenet is the “commitment to patient-centered care that treats the disease and meets the needs of the person and his or her family,” he says. There are many ways in which Sidra is using the most advanced technology to create an unparalleled patient experience by maximizing the time healthcare professionals spend caring for patients and minimizing time spent on administrative tasks. For example, Sidra’s informatics system, called Patient Electronically Accessible Record for Life (PEARL), will ensure that patients and the healthcare professionals involved in their treatment will have instant and seamless access to accurate information at the touch of a button.

Encouraging International Professionals to Make a Difference Sidra is now actively recruiting the best international healthcare professionals to help bring the Sidra vision to life. Sidra will follow the American model of healthcare, where healthcare professionals will work together in multidisciplinary, patient-centric teams to deliver excellent care. At Sidra, providing care for a patient during a hospitalization or outpatient visit will be recognized as addressing only some of the patient’s needs. Sidra’s connection with the patient and his or her family will extend beyond simply curing the disease and will also encompass helping that patient live a healthy life and enjoy a high level of well-being. Dr. Mohammad Fathy Saoud, Vice Chair of Sidra’s Board of Governors and President of Qatar Foundation for Education, Science and Community Development—of which Sidra is a member— says Sidra represents the vision of Her Highness Sheikha Moza bint Nasser’s inspiring work to ensure that the people of Qatar have access to the best services. “Sidra has been modeled after elite academic health centers in the U.S. and we are close to making that dream a reality. The success of Sidra’s model will become an international model for

setting world standards in women’s and children’s health,” he says. Some of Sidra’s key executive leaders have been appointed over the past year, whose world-renowned experience will be invaluable in attracting like-minded medical professionals and bringing Sidra to life. Dr. Edward Ogata, MBA, has joined as Sidra’s inaugural Chief Medical Officer. His previous position was as Chief Medical Officer of the Ann & Robert H. Lurie Children’s Hospital of Chicago, an interdisciplinary research center and institute of Northwestern University Feinberg School of Medicine. Sidra’s inaugural Chief Research Officer is Dr. Francesco M. Marincola, FACS. He previously served as Chief of the Infectious Disease and Immunogenetics Section and Tenured Senior Investigator in the U.S. National Institutes of Health and is Founder and Editor in Chief of the Journal of Translational Medicine. Finally, Sidra’s new Chief Information Officer, Michael LeRoy, is ranked as one of the Top 25 Healthcare CIOs in the U.S. by InformationWeek magazine.

DR. WILLIAM F. OWEN JR., MD, FACP Chief Executive Officer of Sidra

Overall, says Dr. Owen, “The desire to continuously improve patient care is embedded into our culture, whether accomplished through discoveries in the laboratory or by identifying better approaches to delivering care. Sidra will provide the right care at the right time, by the right person, to every patient.”

I want to jump in Qtel Group has changed its name to Ooredoo, which means ‘I want’. With our vision to enrich peoples’ lives, we want to serve all of our 90 million customers across the Middle East, North Africa and South East Asia, from Indonesia to Qatar, from Algeria to Kuwait, even better than before. To help them get what they want out of life.

Qatar Petroleum

Laying the Foundation for a Sustainable Future in Qatar

here’s little doubt that credit for Qatar’s rise to the status of the world’s wealthiest nation goes in large part to the efforts of Qatar Petroleum, or QP as it is now known. Qatar’s first oil field, in Dukhan, was discovered in 1939. Thirty-five years later, QP was created with a mandate to develop the nation’s hydrocarbon resources. Today, gas reserves of nearly 900 trillion cubic feet in the offshore North Field—which is almost the size of Qatar itself—dwarf Qatar’s oil reserves and generate huge revenues for the tiny Arab nation.

Rapid Business Growth “Under the leadership of His Highness the Emir Sheikh Hamad bin Khalifa Al-Thani, and as stated in the Qatar National Vision 2030, the country’s natural resources will sustain the wealth for the present and future generations through the development of long-term common goals and outcomes that will guide the future of Qatar,” says His Excellency Dr. Mohammed Bin Saleh Al-Sada, Minister of Energy and Industry and Chairman and Managing Director of QP. Operating in a stable political climate, QP controls all upstream and downstream oil and gas operations, some through joint ventures with major industry players including ExxonMobil, Shell and Total.

LNG ships

H.E. DR. MOHAMMED BIN SALEH AL-SADA Minister of Energy and Industry, Chairman and Managing Director of Qatar Petroleum

QP further retains a majority stake in consortia within the LNG (liquefied natural gas) companies Qatargas and RasGas, which have the capacity to export 77 million metric tons of LNG per year. QP’s business spans the entire value chain, from oil exploration and production to refining and distribution, giving it a diversified portfolio that protects it from downturns in any one sector. Among its 75 subsidiary businesses, QP uses gas to manufacture petrochemicals; it also operates the world’s largest gas-to-liquids (GTL) project in association with Shell.

The Global Shale Gas Revolution However, the shale gas revolution in the United States has been a game

changer for the global gas industry. At the same time, the collapse of U.S. and European gas prices has introduced new marketing challenges for the Qatari company. In its early years, QP acted quickly to form partnerships with major industry players to capitalize on rising demand for natural gas as a more environmentally friendly alternative to oil. QP has also looked beyond the peninsula’s borders for investment opportunities, expanding into LNG terminals in the U.S. and Europe, and into petrochemicals and refining projects in the Middle East, Asia and Africa. QP, through its international division, is now considering investing in shale gas projects abroad.

Funding the Qatar of Tomorrow The slump in U.S. natural gas prices has not yet impacted QP’s LNG joint ventures because its long-term contracts are linked to crude oil. The shift in demand as the U.S. considers exports will require QP to reposition itself as an exporter of LNG from the U.S., a radical role reversal neither Doha nor Washington could have predicted a decade ago. The flow of petrodollars has allowed the Qatari government to increase spending on infrastructure, education and social development projects, and to diversify its economy away from heavy reliance on oil and gas. His Excellency Dr. Al-Sada explains, “In the future, large infrastructure investment and increased production in the manufacturing sector will boost growth in non-hydrocarbons GDP. According to the IMF, Qatar’s growth in this sector will accelerate by more than 9 percent. As a result, Qatar’s economic outlook remains very positive over the medium term.” The government plans to invest $225 billion in infrastructure developments through 2017, essentially using the revenue of today to build the Qatar of tomorrow.

Qatargas

Industry Leader and Community Driver practice and innovation, and we work proactively within our industry to promote environmentally responsible operating practices,” Sheikh Khalid explains. For example, Qatargas’ Jetty Boil-Off Gas project, which will cut the amount of gas flared during the loading of LNG, will reduce product-related emissions by over 90%.

SHEIKH KHALID BIN KHALIFA AL-THANI Chief Executive Officer of Qatargas

atargas is more than the biggest liquefied natural gas (LNG) producer—it is a key component of the engine that has driven Qatar’s economy to the top of the league of wealthy nations. Having achieved its capacity target of 41 million tonnes per year of LNG in 2011, the company is not resting on its laurels, but channeling its success into the community to create a sustainable environment for the future. “As a premier LNG company, Qatargas is very conscious of its responsibilities. We are committed to continuing the safe and reliable operation of our facilities and providing reliable energy supplies to our customers globally,” says CEO Sheikh Khalid bin Khalifa AlThani. “As we look into the future, we at Qatargas will continue to demonstrate our ability as a reliable and safe global supplier of LNG, adding to the energy diversity of countries in Asia, Europe and the Americas.” In addition, the company’s initiatives to cut global emissions have set new standards for the industry. “Designing and continually improving the company’s facilities so that we minimize the environmental effects of our operations remains a top priority. We are fully committed to meeting or exceeding the most stringent government regulatory standards through sound operating

largest nonassociated gas field. These characteristics, coupled with our unique geographical position, have enabled Qatar to deliver LNG easily to all four corners of the world,” Sheikh Khalid says. “We at Qatargas believe that LNG will continue to be a vital part of a diverse and secure energy mix for many countries.”

Outpacing Global Competition

A Strong Commitment to Giving Back

With a head start over its rivals, Qatargas has brushed off competition from the United States’ growing shale gas industry while serving a growing customer base in Asia, including its key market, Japan, the first importer of LNG from Qatar, followed by China, South Korea, Singapore and recently Thailand.

At home, Qatargas is conscious that, as “an incubator of national talent,” it has a duty to invest in local communities through its Corporate Social Responsibility program, which aligns with its 2015 goals and the longer-term objectives of the Qatar National Vision 2030. To that end, it is engaged in educa-

Aerial view of the Qatargas LNG plant at Ras Laffan, Qatar

“We believe that demand for natural gas and LNG continues to grow globally. Exports from the U.S. will further complement such growth in natural gas demand,” Sheikh Khalid says, noting that several of Qatargas’ customers— the U.S., China and Poland—are producers or potential shale gas producers. “Qatar’s track record of delivering LNG to markets in a secure and reliable manner is an attractive proposition for customers and governments in Asia, Europe and the Americas. Qatar is also a very politically stable country, and it is home to the world’s

tion, health, community development, sports, arts and culture, as well as charitable causes at home and humanitarian causes abroad. “Through Qatargas’ commitment and drive, the company continues to make a significant contribution toward a stable and sustainable income for the State of Qatar, where in 2011 its revenues represented almost 20% of Qatar’s GDP. These revenues will continue to support a highly stable and sustainable source of economic income for the long-term future of the State of Qatar,” Sheikh Khalid says.

ExxonMobil in Qatar An Enduring Partnership

results. Together, through the development of new technologies and the well-considered use of Qatar’s natural resources, we have developed an unrivaled LNG supply chain,” says Bart Cahir, president and general manager of ExxonMobil Qatar Inc.

Valuable Joint Ventures

MR. BART CAHIR President and General Manager of ExxonMobil Qatar Inc.

rom the first gas discovery in 1971 to Qatar attaining the status of the world’s largest liquefied natural gas (LNG) producer in 2010, ExxonMobil has been there every step of the way. Through its RasGas and Qatargas joint ventures, ExxonMobil is involved in 12 of Qatar’s 14 projects that convert gas into LNG. ExxonMobil is also proud to be the international oil company involved in two domestic gas projects that will help meet rising energy demand in a thriving Qatari economy. “ExxonMobil’s partnership with Qatar Petroleum has yielded remarkable

Political stability in this small oil- and gas-producing peninsula state under the stewardship of the Emir, His Highness Sheikh Hamad bin Khalifa Al-Thani, and an open and transparent investment climate have yielded dividends for Qatar and its foreign joint venture partners. “The State of Qatar has experienced tremendous change and growth, as evidenced by gross domestic product growth rates that have well exceeded the global average in recent years,” says Cahir. “To help meet the increased energy demand associated with this development, ExxonMobil was selected as the only international oil company to partner with Qatar Petroleum on two domestic gas development and pipeline projects: Al Khaleej Gas and Barzan Gas.” Production from Barzan is due to start in 2014 and will provide 1.4 billion cubic feet of gas to help meet industrial demand and generate additional power

Q-Max LNG ship Mozah at South Hook LNG Terminal, UK

for a new airport, port and other projects to help sustain economic growth through 2022, when Qatar hosts the FIFA World Cup, and beyond. In addition to these two key projects, ExxonMobil is exploring further opportunities to grow its business while investing in the Qatari community through social programs in education, sports, training and technology, all of which are included in its corporate responsibility program and are a part of Qatar’s 2030 vision of sustainable development. “Within the LNG portfolio, there are still opportunities to optimize the existing infrastructure in Qatar. Together with Qatar Petroleum, we have invested a significant amount of resources to develop our business here, and the venture wants to ensure that it is performing with maximum efficiency,” says Cahir. More recently, Ex xonMobil has adapted to significant changes in the global gas industry by investing in new forms of natural gas production around the world. Cahir says the company takes a long-term approach and notes that the world will continue to need more natural gas for power generation, which is forecast to be 85% higher by 2040. “In Qatar, we can marry this robust demand picture with an equally sound source of supply. Qatar’s production of 77 million tonnes per annum of LNG translates into enough energy to heat the equivalent of nearly 70 million households,” he says.

A Deep-Rooted Partnership ExxonMobil is also making long-term investments in Qatar that go beyond oil and gas development. “ExxonMobil supports the economic and social progress led by His Highness the Emir and espoused through the National Vision and the National Development Strategy. We look forward to making continued contributions to Qatar as it helps meet the world’s growing demand for secure, reliable and affordable energy,” says Cahir.

OPPORTUNITIES FOR ALL Every two years, the Congress assembles a global community of more than 12,000 chambers of commerce, their leading business members, and influential world leaders. It provides a unique opportunity for interaction between delegates from more than 100 countries. The 8th World Chambers Congress is an initiative of the International Chamber of Commerce and the World Chambers Federation and is coorganized with the Qatar Chamber. It will take place in Doha, Qatar on April 22-25.

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Katara Hospitality’s Landmark Properties

Iconic Towers in Lusail city - Opening 2016 Bürgenstock Lake Lucerne - Opening 2015

The Peninsula Hotel Paris - Opening 2014

The Ritz-Carlton, Doha

Le Royal Monceau – Raffles Paris

Katara Hospitality

A Hotel Portfolio of Extraordinary Dimensions

SHEIKH NAWAF BIN JASSIM BIN JABOR AL-THANI Chairman of Katara Hospitality

rom the Bijilo Forest Park in the West African nation of the Gambia to the Royal Savoy Hotel in the Swiss resort city of Lausanne, the portfolio of Doha-headquartered Katara Hospitality is global, varied and ambitious. The Gambia project is a new development, as is the iconic hotel project in Lusail, a new city development in Qatar. The Bürgenstock Resort overlooking Lake Lucerne, the Royal Savoy in Lausanne, the Excelsior Gallia in Milan, and The Peninsula Hotel Paris are renovations of famous hotels. The Tazi Palace in Tangiers is being transformed into a regal, five-star luxury hotel. For Sheikh Nawaf Bin Jassim Bin Jabor Al-Thani, Chairman of the Board of Directors of Katara Hospitality, all of these new developments are founded on the company’s 40 years of experience and success. “If you look at our Qatar portfolio, each hotel type has a counterpart in the newly acquired international properties, be it a luxury property, a business and convention hotel, or a leisure hospitality venue,” Sheikh Nawaf says.

Sixty Properties by 2026 Currently the company owns 25 properties in Europe, the Middle East, Africa and Asia that are operational or under development. This figure has doubled their portfolio in less than two years. Katara Hospitality

plans to own 30 hotels and resorts by 2016, and 30 more over the following decade. Sheikh Nawaf says that despite its international expansion, nationally Katara Hospitality continues to be the market leader, affirmed by a recent Ernst & Young report, “by developing in Qatar world-class hotels that are relevant, not only for our portfolio, but emblematic for the country as well.” The May 2012 launch of Lusail Marina Tower, whose architecture evokes the crossed swords of the country’s seal through twin arched towers, reflects this ambition in dramatic style. Also during the year, several properties were opened or acquired and the company announced its rebranding as Katara Hospitality. “We began to believe the name Qatar National Hotels Company was holding us back from our ambitious international expansion plans,” Sheikh Nawaf recalls. “We needed a brand identity that more closely reflected our rapidly expanding portfolio and one that would honor our rich cultural heritage and country’s ancient roots. A rebrand to Katara Hospitality achieved this well.”

A Pioneer in New Markets The goal of Katara Hospitality’s overseas investments “is to create a balanced and diverse portfolio” that includes “iconic” hotels with “a lasting legacy,” a healthy base of business hotels and resorts located in key destinations. The company’s investments also reflect Excelsior Gallia Hotel Milan – Opening 2014

Qatar’s broader commitment to making a positive difference. According to Sheikh Nawaf, the company embraces opportunities to be “pioneers in developing markets, which we see as emerging tourist destinations where we commit to supporting local communities.” Owned by the Qatar government, Katara Hospitality supports the Qatar National Vision 2030, which identifies hospitality as a strategic tool to help achieve the broader vision, Sheikh Nawaf says. “Our aim is to become one of the leading hospitality organizations in the world, and the Qatar National Vision creates the ideal framework for us to achieve this goal.”

Expansion Throughout Europe and North America Noting the company’s strong presence in France, Switzerland and Italy, Sheikh Nawaf says it is looking for further investments in the United Kingdom, Germany, Mediterranean countries and North America. Wherever it invests, the company’s preferred operating partners include The Ritz-Carlton, Marriott International, Sheraton Hotels & Resorts, Mövenpick Hotels & Resorts, Fairmont Raffles Hotel International and The Peninsula Hotels. As eclectic as the company’s portfolio is, Sheikh Nawaf says a singular vision guides its investments: “We always look for something special, something that sets our projects apart—something that will add an extraordinary dimension to our business.”

United Development Company Creating Unique Opportunities in Qatar

nited Development Company (UDC), the Doha-based diversified holding company and master developer of The PearlQatar, is helping to build Qatar—literally. “We’re the only national firm with a completed project that has actually added to the total land area of the State of Qatar through our flagship project, The Pearl-Qatar,” explains UDC Chief Executive Officer Ebrahim Al-Sulaiti. What’s more, this 4-million-squaremeter development also increased the country’s coastline by 32 kilometers. Today, The Pearl-Qatar stands as the most distinctive and desirable mixeduse residential, retail, entertainment and cultural real estate project in the region. The Pearl-Qatar, which welcomed its first residents in 2009 and ultimately will have 45,000 residents once completed, represents “the most comprehensive, customer-tailored and creative solutions available to the real estate industry,” AlSulaiti says. The development allows non-Qataris to own property; the Qatari government and lease property laws grant them residency for up to 99 years. The Pearl-Qatar feels distinctly Mediterranean, thanks to a blend of architectural style and master planning—down to the very names of the more than ten distinct precincts, from Porto Arabia and La Plage Villas to the soon-to-open Medina Centrale. The ultimate dining experience

As a leading publicly traded Qatari company, UDC is committed to promote national economic growth and supporting the Qatar National Vision 2030 by creating jobs and championing initiatives. But while Qatar is the central focus of UDC’s core business and strategic interest, the company will continue to expand in the region in order to further strengthen its position and diversify its resources. MR. EBRAHIM AL-SULAITI Chief Executive Officer of United Development Company

Medina Centrale: A Promising New Addition Medina Centrale will be the “town center” of The Pearl-Qatar, offering a unique residential, shopping and leisure experience. Medina Centrale is a low-rise development based around a town square and adjacent streets, featuring numerous parks and open spaces, “all of which will make for both a lively environment and a place for celebrations,” Al-Sulaiti says. It will offer a huge selection of dining outlets, and a handpicked selection of shops to “serve the community in style,” Al-Sulaiti says. A multi-screen cinema, gym, and many other facilities

will be easily accessible to those living in Medina Centrale, as well as those on other parts of The Pearl-Qatar or elsewhere in Doha. Development of Medina Centrale represents the next step in the overall project’s development, which Al-Sulaiti described as “an island experience in Qatar that is unmatched.” Because of its unique character and position in Qatar, he said completion of all the 10 precincts that make up The Pearl-Qatar “is a priority for us, to achieve its original vision.” Medina Centrale will be the first precinct within The Pearl-Qatar to launch since a new leadership came on board at UDC last year. A graduate from the University of Miami – Florida with a Major in Architecture, and a member of the American Institute of Architects, Al-Sulaiti joined the company as its Chief Executive Officer in April 2012, bringing a wealth of technical and business experience. He previously held executive positions at Qatar National Bank, where his roles included General Manager of General Services and Special Projects, and Executive Director of Projects and Buildings. The company was established in 1999 and listed on the Doha Exchange in 2003. Qatari shareholders hold 75 percent of the total shares, while the remaining 25 percent are held by other GCC and international investors. As of December 31, 2012, the company reported total assets of QR 19.467 billion ($5.34 billion), up

from end-2011 reported assets of QR 19.056 billion.

The cosmopolitan heart of The Pearl-Qatar

Research, Development and Innovation Although The Pearl-Qatar is its flagship island development, publicly traded UDC operates on a broader scale and is a diversified holding company with operations in more than a dozen sectors, including infrastructure, downstream hydrocarbon manufacturing, maritime, utilities, hospitality, retail and fashion, information technology, media and communications, facilities management and insurance. Companies operating under the umbrella of United Development Company include United Fashion Company, Hospitality Development Company and Ronautica Middle East. Operations established most recently include Madinainova, United Facilities Management Company and The Pearl Owners Corporation. Clearly UDC’s expertise extends far beyond just delivering The Pearl-Qatar; it includes managing all aspects of the development. “These are very valuable core competencies that UDC has built over the years, and we intend to benefit from them,” Al-Sulaiti says. Explaining the company’s long-term partnership model, Al-Sulaiti states that UDC focuses on “promoting ‘business for life’ in core sectors related to real estate that add value and run in parallel to existing operations.” The goal is to put “the knowledge and skill set we possess to achieve an overall competitive advantage,” he says.

Growing Toward the Future The company enters new industries through wholly owned subsidiaries and joint ventures with leading international partners in order to bring “a vast array of groundbreaking initiatives to the local and regional business sectors.” A prime example is Qatar Cool, a joint venture with UAEbased Tabreed that developed the world’s largest district cooling plant, and MEDCO, a specialist in capital dredging works that is a joint venture with Dredging, Environmental and Marine Engineering (DEME) of Belgium, and Qatar Holding, a governmentowned investment entity. MEDCO’s first

Although The Pearl-Qatar is its flagship island development, publicly traded UDC operates on a broader scale and is a diversified holding company with operations in more than a dozen sectors, including infrastructure, downstream hydrocarbon manufacturing, maritime, utilities, hospitality, retail and fashion, information technology, media and communications, facilities management and insurance. job was dredging The Pearl-Qatar, from which it has gone on to handle significant projects in Qatar and the UAE. As a result of its track record of delivery and success, the company has become the “first-choice private sector joint venture partner for international investors in Qatar and the region.” Some of its other joint-venture partners include: BESIX of Belgium, Qatar Petroleum, Commercial Bank of Qatar, Qatar Insurance Company, Asteco Property Management, Qatar Fertilizer Company (QAFCO), Qatar Industrial Manufacturing Company and Amwal, a Qatar-based investment, asset management and corporate finance firm. As a diversified holding company, AlSulaiti adds, “UDC expects to expand in all facets of the commercial markets, in order to meet the widespread demands of the company’s institutional and corporate clients.” With an eye on regional expansion, UDC “looks at sector-specific geographic

growth outside of Qatar,” Al-Sulaiti says. “We have the core competencies; we have the knowledge, the technical ability, vision and financial resources to expand geographically, and we are actively pursuing opportunities. The global financial downturn has created opportunities for us to work with both international governments and large companies on largescale projects.” According to him, UDC follows a rigorous process of assessment when pursuing new ventures or investments, whether inside Qatar or abroad. This process is based on criteria such as “high target returns, geographic location, and strong local partners.”

Committed to Qatar’s National Vision As a leading publicly traded Qatari company, UDC is committed to promote national economic growth and supporting the Qatar National Vision 2030 by creating jobs and championing initiatives. But while Qatar is the central focus of UDC’s core business and strategic interest, the company will continue to expand in the region in order to further strengthen its position and diversify its resources. Nevertheless, Qatar remains the company’s “core business and strategic interest,” declares Al-Sulaiti. “We are committed to promoting national economic growth by creating jobs and initiatives that take into consideration environmental and social practices consistent with our national and governmental requirements.”

Ooredoo

Adapting to the New Era of Communications

DR. NASSER MARAFIH Group Chief Executive Officer of Ooredoo

t this year’s GSMA Mobile World Congress, a bold new approach to communications was launched. During a special event, His Excellency Sheikh Abdullah Bin Mohammed Bin Saud Al-Thani, Chairman, announced that Qtel Group, one of the world’s fastest-growing telecommunications companies, was changing its brand to Ooredoo, and that each of its operating companies would adopt the new brand during the course of 2013 and 2014. These companies, in which Ooredoo already has a controlling interest, include brands such as Qtel in Qatar, Indosat in Indonesia, Wataniya in Kuwait, Nawras in Oman, Tunisiana in Tunisia, and Nedjma in Algeria. “With ‘Ooredoo,’ we have chosen an Arabic word that means ‘I want,’ to reflect the aspirations of our customers and our core belief that we can enrich people’s lives and stimulate human growth in the communities where we operate,” explained Al-Thani. “We believe that young people should be given the life chances that mobile technology can provide; that underserved communities should be able to access the Internet; that every woman should have an equal opportunity to use a mobile phone; and that entrepreneurs and small businesses should be able to receive business services tailored to their needs. Our new brand reflects these beliefs,” he added.

During the event, Ooredoo named football star Lionel “Leo” Messi as its exclusive global brand ambassador and agreed to support the Leo Messi Foundation as part of the company’s continued commitment to making a difference in communities around the world. In this role, Lionel Messi will be supporting Ooredoo in various programs to increase the life chances of young people in the Middle East, North Africa and Southeast Asia and help them fulfill their hopes and dreams. The Leo Messi Foundation, which Messi founded in 2007, has a track record of funding initiatives, both large and small, to help children in at-risk situations related to health care and education development. As part of the partnership, the foundation will develop and sponsor projects to stimulate human growth and development across Ooredoo’s markets. Youth in these markets sometimes have to fight hard to reach their dreams, and both Ooredoo and the Leo Messi Foundation hope to support them in achieving their potential through a range of initiatives.

In order to sustain this incredible growth, Ooredoo has focused upon the social and economic impact of mobile technology, particularly in the developing world. Today, customers around the world are demanding access to data via mobile devices as a basic right. Group CEO Dr. Nasser Marafih emphasizes that for Ooredoo, “Keeping people connected is both a social obligation and a business necessity, and we focus on helping people realize their full potential, supporting youth, empowering women and connecting underserved communities.” “We are very excited to become Ooredoo because the new brand signals our readiness to take the company to the next level. It is our belief that we can better serve our customers by leveraging the combined resources and assets of a strong, unified global business under one brand. We also believe that rebranding now will help us maintain our momentum in the face of new realities for the industry, signaling our commitment to becoming a global force.”

A History of Impressive Growth

Emerging Markets: A Major Impetus for Growth

These are exciting times for Ooredoo, which has emerged as the fastest-growing global operator by revenue in recent years, with an enterprise value that has more than tripled since 2005. Ooredoo has grown from a single-country operator in Qatar to having a significant presence in the Middle East, North Africa and Asia, and a consolidated customer base of almost 90 million people.

The developing world is driving much of the data-market growth today, as customers use smartphones to access mobile applications for things like tips on running a small business, updating social networks to find jobs, and communicating with wholesalers and their own customers, explains Marafih. Supporting this modern, interconnected era is a challenge for operators,

Ooredoo covers markets with a large youth footprint.

he says. Investment costs are high; the old business models are no longer delivering the same profitability; and customers are demanding ever-faster networks. To meet this changing demand, Ooredoo is focusing on how it does things differently for customers. Enhancing the customer experience will be the critical success factor in the new broadband environment. One of the initiatives that Ooredoo is pursuing to achieve this is an agreement with Samsung Electronics, which will see both parties collaborate on projects to accelerate the growth of mobility and Internet adoption across all Ooredoo markets, with a strong focus on Qatar and Indonesia. Leveraging the strong youth base of Ooredoo’s markets, the two companies will provide innovative products for young consumers—a strategic push that the launch of Samsung’s Galaxy Y series recently highlighted. Regarding the customer experience, Marafih says that Ooredoo companies are increasingly offering best-in-class platforms so that devices are easy to set up, as well as direct payment options, which give customers a one-stop shop for all their online needs. Easy access to self-help services further supports these offerings. Recognizing that customers are creators as well as consumers, Ooredoo also is opening its networks and developing partnerships to provide the relevant tools for creating content. In addition, Ooredoo is tackling technological limitations: “Capacity is increasingly precious, especially as smartphones drive the use of data-rich applications,” Marafih says. That’s why Ooredoo is evolving to become a “smarter broadband provider,” efficiently using different spectrum bands and sharing networks to improve the technology mix in a way that will keep costs down and accommodate more traffic. The company has initiated a major modernization program across its core network and is investing for the future to deliver high-speed broadband as new frequencies and technologies open up. Ooredoo also is providing services to customers who cannot afford smar tphones and is working with global trade group the GSM

H.E. Sheikh Abdullah Bin Mohammed Bin Saud Al-Thani, Chairman, Ooredoo, and Lionel Messi, exclusive global brand ambassador for Ooredoo

Association (GSMA) to develop moreintuitive devices to overcome technological literacy barriers. Marafih explains that sharing networks helps operators spread the investment risk, so that they can roll out developing technologies like 4G LTE networks faster and more widely.

A Community-Focused Company “Fundamentally, our new brand, Ooredoo, brings to life our vision of enriching people’s lives and our promise of human growth for all,” Marafih says. “We are not only a communications company; we are a community-focused company, whose work makes a difference in communities.” This is a very personal corporate vision. “We want to go beyond simply making connections. We want to help people achieve their full potential,” says Marafih. Ooredoo has been at the forefront of delivering life-enhancing mobile services, such as mLearning in Tunisia, which suppor t young pe ople’s e c o n o m i c e m p owe r m e n t . Fu rthermore, Ooredoo’s Iraq operation, Asiacell’s Almas (“Diamond”) offering, won a global mobile award at Mobile World Congress 2013, as the “GSMA mWomen Best Mobile Product or Service for Women in Emerging Markets,” for its support for Iraqi women, especially in the southern regions of the country. The offering, which was designed based on research that sought to better understand Iraqi women’s

wants and needs, enables women to be better connected to friends and family, and to become more socially and financially independent. Since launching the Almas service in April 2011, Asiacell has seen an incredible response. More than 1.8 million female customers have joined Asiacell, with many signing up for the Almas service. In fact, the proportion of female customers in Asiacell’s customer base has grown from 20% to 40% since the service’s launch. In Indonesia, Ooredoo’s Indosat operation is making a difference. At the end of 2012, it launched the Usaha Wanita service, offering tens of thousands of women entrepreneurs free business advice through their mobile phones. In July 2011, Indosat launched an offering specifically for stay-at-home moms, called “Hebat Keluarga,” which includes an affordable tariff for friends and family and a family-finder application to track family members. Indosat has also launched, in partnership with Nokia “Info Wanita,” offering SMS-based information on small business management, financial management, life skills, health and childcare. These kinds of achievements reflect the core beliefs of Ooredoo, and demonstrate the company’s commitment to delivering the promise of human growth to its nearly 90 million customers around the world. To learn more about this bold new approach to communication, go to www.ooredoo.com.

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Barwa Group

Governance, Excellence and a Track Record of Success Point to Superior Returns Ahead than 90% of community amenities such as retail establishments and schools have already been leased.

Barwa Commercial Avenue

Enhancing Its Global Role

ABDULLA ABDULAZIZ TURKI AL-SUBAIE Chief Executive Officer of the Barwa Group

hroughout 2012, Barwa dramatically brought to life its new vision and corporate strategy. During the year, the company showed good organizational discipline, better business efficiencies, improved cost structure, strong corporate governance, better risk management and internal controls, intensified local market knowledge, strengthened teamwork, a simplified operating model, and good synergies—generally everything that the new corporate strategy highlighted. “While during the past five to six years we have been actively developing megaprojects, the focus over the near term also includes balancing the operation of these projects most efficiently to deliver a superior return on assets for our shareholders,” says Abdulla Abdulaziz Turki Al-Subaie, CEO of the Barwa Group. As a result, all of the company’s completed real estate projects, including Barwa Al Sadd, Barwa Village and Masaken, are more than 90% occupied. In addition, the majority of retail and residential units in Barwa Commercial Avenue have been leased. Barwa City, the mega-residential development that comprises nearly 6,000 apartments, retail spaces and schools, is expecting 50% of its residential units to be occupied by the end of the year, while more

Through its international investment strategy, Barwa looks at leveraging opportunities in the Middle East, Turkey, the UK, North America and Southeast Asia. To date, Barwa has established many such strategic partnerships and alliances. Ottoman, for example, is a joint venture that Barwa has forged with Turkey’s leading developers. A luxury 381-unit residential project in Istanbul overlooking the Marmara Sea, Ottoman achieved presales of more than 90% by early

CHRONOLOGY 2005 Securities Market 2006 Announcement of major developments in Qatar; Completion of Doha Exhibition Center 2007 Cairo project; Expansion to hospitality sector through Guidance Hotels Investment Management Company in key markets 2008 Qatar and Cavendish Capital in London; Expansion to Turkey through Ottoman project 2009 Establishment of synergistic businesses in Qatar Waseef complement the real estate value chain 2010 Development Co.) 2011 Financial District; Expanded presence in London through Completion of the mixed-use development 2012 residential development; Completion of the iconic mixed-use

February 2013 and was expected to sell out by the end of March. In London’s prime West End, Barwa owns and is renovating the 1950s-era North Row office building in the Mayfair Conservation Area. Work on the building is scheduled for completion by the third quarter of 2013, and Barwa has targeted 90% occupancy for 2014.

“Intellectual Creativity” While Barwa’s corporate strategy in the near to medium term seeks to capitalize on Qatar’s market opportunities, this focus won’t come at the expense of its international growth, Al-Subaie says. The company will continue to make investments internationally, while also increasing investment at home, thereby demonstrating to the world the overall ambitions and capacity of the State of Qatar, he adds. “Since its inception in 2005, Barwa has delivered many innovative mega-developments that reflect ‘intellectual creativity,’ which is our work approach in real estate development,” says Al-Subaie. Bar wa’s bright future cer tainly appears clear, given its track record of execution and value creation, operational excellence, prudent capital management, strong governance, and fostering the right talent and culture.

ICC WORLD TRADE AGENDA SUMMIT

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22 APRIL 2013