ABCC Economic Focus - Issue 1

Sustaining an Emerging Vision

MONDAY, NOVEMBER 20, 2023 (08:30 - 18:00 ) (GMT+0 )

Hilton London Metropole, London

The ABCC is proud to launch ABES2023, the third such Summit that follows on from the successes of previous years. We anticipate that around 1,000 delegates will attend the event this year when it assembles on 20th November. We will be hosting leading figures from government and the private sector plus experts from the UK and all over the Arab world.

ABES2023 is the only show in town where you will be able to meet such a distinguished gathering of leading business figures, thought leaders and policy experts representing the UK and Arab communities.

More speakers are to be announced. Watch this space.

Early bird ticket discount now applies. Special rates for ABCC members.

https://abcc.glueup.com/ event/3rd-arab-british-economicsummit-2023-68972/tickets.

html#tickets

Sponsorship opportunities

The Arab British Chamber of Commerce

has long been the platform of choice for both British and Arab businesses and is strategically placed to help firms meet and expand their networks.

As a trusted champion of the Arab-British partnership and an influential voice for business within the UK and the Arab World, the ABCC is the organiser of ABES 2023.

Networking

ABES 2023, the ABCC’s flagship event of 2023, will bring together senior government officials, ministers, diplomats, executives, investors and decision makers in the business sector. We anticipate upwards of 800 delegates and participants.

Branding Awareness

Maximise your company’s brand

recognition with our packages designed to provide exposure and awareness. ABES 2023 will provide your brand with targeted visibility in the months leading up to the event, during as well as afterwards.

Promotion

Choosing to become a sponsor or an exhibitor will allow you to take advantage of the extensive publicity campaign in the British and Arab media carried out during the run up to ABES 2023, along with exposure for your business on the day of the Summit. Sign up early for maximum advantage.

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A few of the confirmed speakers so far:

H E Ahmed Aboul Gheit has been Secretary General of the Arab League since March 2016 and he was reconfirmed in the post in March 2021. He was Egypt’s Minister of Foreign Affairs from 2004 to 2011. Previously, from 1999 to 2004, His Excellency served as Permanent Representative of Egypt at UN headquarters in New York. He joined the Egyptian Ministry of Foreign Affairs in 1965 where he held various positions. From 1992 to 1996 H E Ahmed Aboul Gheit served as Egypt’s Ambassador to Italy, Macedonia and San Marino. His Excellency

Ahmed Aboul Gheit Secretary General

The League of Arab States and former Minister of Foreign Affairs of Egypt

His Excellency Jasem

Mohamed Albudaiwi

Secretary General at The Cooperation Council for the Arab States of the Gulf (GCC) https://www.gcc-sg.org

His

His Excellency Jasem Mohamed Albudaiwi commenced his duties as Secretary General of the GCC on 1st February 2023.

His Excellency has a distinguished diplomatic career serving as Kuwait’s Ambassador to the United States from 2022 to 2023, Head of Mission of Kuwait to the European Union, 2017 to 2022, Head of Mission of Kuwait to NATO, 2016 to 2022, Kuwait’s Ambassador to Belgium, 2016 to 2022, Kuwait’s Ambassador to South Korea, 2013 to 2016, Deputy Director, Department of the Undersecretary of the Kuwait Ministry of Foreign Affairs, 2012 to 2013, among his various other posts.

Simon Penney

HM Trade Commissioner for the Middle East and HM Consul General for Dubai, Department for Business & Trade

Simon Penney, His Majesty’s Trade Commissioner (HTMC) for the Middle East and Pakistan, was appointed in May 2018. Simon is also His Majesty’s Consul General (HMCG) to Dubai, appointed in January 2021. Simon has spent the majority of his career in the banking sector with extensive experience leading corporate and financial institution groups and teams across Europe, the Middle East, Africa and Asia.

http://uac-org.org/en

H.E. Dr. Khaled Hanafy

Secretary General at Union Of Arab Chambers

Dr Khaled Hanafy is the “Secretary General of the Union of Arab Chambers” and Professor of Economics and International Business. He held several Governmental, academic, business and consultancy positions, most recent of “Minister of Supply and Internal Trade in Egypt”, “Chairman of Internal Trade Development Authority” and “Dean of College of International Transport & Logistics” in the Arab Academy for Science, Technology & Maritime Transport.

CEO of London Chamber of Commerce and Industry

https://www.londonchamber.co.uk/

Lord Edward Udny-Lister

Co-Chair at the UAE-UK Business Council

Lord Udny-Lister has been UK Co-Chair of the UAE-UK Business Council since 2020.

Prior to this he was Chief Strategic Advisor to Prime Minister Boris Johnson, and the Prime Minister’s Special Envoy to the Gulf Region.

Richard Burge CEO, London Chamber of Commerce and Industry

Richard Burge joined the London Chamber of Commerce and Industry (LCCI) as Chief Executive in February 2020. Prior to this, Richard was an independent advisor on international affairs focusing on trade, conflict, and development with a portfolio of advisory and consultancy work. Richard’s varied career has seen him lead four multi-million pound organisations as Chief Executive over a total of 18 years.

Excellency Jasem Mohamed Albudaiwi Secretary General at The Cooperation Council

Simon Penney HM Trade Commissioner for the Middle East and HM Consul General for Dubai at DBT

H.E Dr. Khaled Hanafy Secretary General at Union Of Arab Chambers

Lord Edward Udny-Lister

Co-Chair at UAE-UK Business Council

Richard Burge

Other Speakers

Ayman Al Awadhi Group Managing Director The Corporate Group

Shevaun Haviland Director General British Chambers of Commerce

Andrew Elia Managing Partner Arishi

Marco Forgione Director General Institute of Export and International Trade (IOE&IT)

John Lucy Director Liverpool City Region Freeport

Rebecca McLaughlin-Eastham TV Anchor, Moderator & CEO RME Media of Euronews Television

Nasser Saleh Executive Chairman and Founder MadfooatCom for ePayments P.S.C.

Marc Saroufim Managing Partner Al Akeel & Partners

Patricia Yates CEO VisitBritain

1st Members’ Networking Event

8 FEBRUARY 2023

The ABCC held its first members’ networking event of the year on 8 February.

This extremely well attended event saw eight members from various sectors making their pitches and promoting their businesses to our audience of executives, diplomats and potential investors drawn from our membership and beyond.

Hosted by Mr Abdeslam El-Idrissi, ABCC Deputy CEO & Secretary General, the event attracted about 100 people and opened with some welcoming remarks from the Rt Hon Baroness Symons, the ABCC Chairman. The event held a minute’s silence in memory of the victims of the earthquake in Turkey and Syria, which occurred within a few hours of the event. A networking reception followed the presentations.

Diana Arama, Founder & MD, Mayfair Networking Events

Hanan Ashegh, Founder & Executive Director, Goodwill Caravan

Dominic Jennings, Head of Strategic Partnerships, Deep Knowledge Group

Gonzalo Butori, Partner, Giambrone & Partners LLP

Lei Yan, CEO, XOR UK Corporation Limited

Hutch Hutchison, Co-founder & Head of Design at XOR

James Henson, Client Director, Partners& Raj Pahuja, Partner, Harrison Clark Rickerbys Ltd

Rt Hon Baroness Symons Abdeslam El-Idrissi, ABCC Deputy CEO & Secretary General Minutes silence for earthquake victims Dr Houda Ounnas, CEO and founder, Dr Houda 360

Abu Dhabi Trade Forum

Top executives from Khalifa Economic Zones Abu Dhabi (KEZAD), part of AD Ports Group, visited the ABCC on 28 February to meet UK executives and promote the advantages of doing business in Abu Dhabi’s exceptional infrastructure and strategic location in the Gulf.

An audience of upwards of a hundred senior executives, investors, exporters, media and diplomats were in attendance to listen to the formal presentations made by Mr Mohamed Al Khadar Al Ahmed, CEO, Khalifa Economic Zones (KEZAD Group), and Mr Khalid Al Marzooqi, VP International Business Development, KEZAD Group.

AD Ports Group was born out of a merger of Abu Dhabi’s existing economic zones in 2022 and was embarked on a new effort to develop diverse sectors.

Abu Dhabi was keen to welcome more British involvement in its

economic zones, ports, warehousing and infrastructure.

The Rt Hon Baroness Symons of Vernham Dean, ABCC Chairman, and Mr Bandar Reda, ABCC CEO & Secretary General, delivered welcoming remarks where they expressed the expectation of growing UAE-UK economic partnership and pledged the

Chamber’s support to strengthen these relations.

Mr Abdeslam El-Idrissi, ABCC Deputy CEO & Secretary General, outlined the programme of activities planned by the Chamber this year which will culminate in the third Arab British Economic Summit, ABES2023, to be held in November.

Individuals could now register for ABES2023 and to take advantage of a special Platinum membership offer.

Delegates were witness to the formal signing of a Memorandum of Understanding between the ABCC and AD Ports Company.

The two organisations committed to working together to develop mutual opportunities particularly in exports, industrial zones, logistics, supply chains and digital technologies, reflecting the five clusters that were the Abu Dhabi company’s expertise.

Mr Mohamed Al Khadar Al Ahmed, CEO, Khalifa Economic Zones (KEZAD Group)

Mr Abdeslam El-Idrissi

Rt Hon Baroness Symons of Vernham Dean

Mr Bandar Reda

The Power of Authenticity –Book Launch

7 MARCH 2023

The ABCC was delighted to host a special meeting to mark the launch of the latest book by Dr Raja Al Gurg, who is one of the most prominent businesswomen in the Arab World being the managing director of the Easa Saleh Al Gurg Group, a leading UAE conglomerate.

Dr Al Gurg spoke eloquently about her successful career first in education and in leading the family business founded by her late father, H E Easa Saleh Al Gurg, who for many years served as the UAE Ambassador to the UK. Her book, The Power of Authenticity: Three

Principles of Leadership Success, had been written with the intention of inspiring a younger generation of entrepreneurs, both men and women, to learn from her example and to emulate her achievements.

In conversation with the Rt Hon Baroness Symons of Vernham Dean, the ABCC

Chairman, Dr Al Gurg ranged widely over her early career and history of the family business. She explained the principles that have guided her thinking as a business leader such as the need to fully understand all the activities of the company and to be involved on the shop floor.

Dr Raja Al Gurg with Abdeslam El-Idrissi

Dr Raja Al Gurg with Rt Hon Baroness Symons of Vernham Dean

Dr Raja Al Gurg with Bandar Reda

Sustainable TourismABES2023 Introductory Forum

15 MARCH 2023

The ABCC hosted the first of its introductory forums held in the run up to ABES2023 on the afternoon of 15 March. The event providing a platform for various companies and investors to discuss and share their opinions on the issue of sustainable tourism.

The discussion opened up a discussion on themes to be addressed in more detail at ABES2023 in November.

Speakers from the Embassies of Bahrain and Algeria explained the ambitious tourism developments in

their respective countries and the tremendous investment opportunities available to UK firms in numerous projects at various planning stages. The speakers were joined by UK experts on sustainability and climate change who were eager to share their

insights into the expanding ecotourism market and its great potential for growth.

The event was chaired by Mr Abdeslam El Idrissi, ABCC Deputy CEO & Secretary General.

Richard Williamson

Miss Hajer Mohamed Ameen

From left: Gregory Baker, CEO & Founder, ESE Capital, Mr Mohamed Khelifi, Minister Plenipotentiary, Algerian Embassy, Miss Hajer Mohamed Ameen, Second Secretary, Embassy of Bahrain and Richard Williamson, COO, Considerate Group Gregory Baker, CEO & Founder, ESE Capital

Financial Markets: Drivers for the Development of the Arab Economies

27 APRIL 2023

The ABCC hosted a roundtable on Financial Markets: Drivers for the Development of the Arab Economies at its Mayfair premises on 27 April, organised in cooperation with the Kingdom of Morocco Embassy in London.

Mr Bandar Reda, ABCC Secretary General & CEO, welcomed a high-powered delegation from Morocco headed by Mr Tarik Senhaji, CEO, Casablanca Stock Exchange, who was accompanied by Mr Sekkat Younes, President, Moroccan Stockbrokers Association and Mr Nasser Seddiqi, Director of Corporate Finance & Markets, Moroccan Capital Markets Authority.

The discussion, chaired by Mr Abdeslam El-Idrissi, ABCC Deputy CEO & Secretary General, focused on the achievements of Morocco in developing its financial market and brought together experts,

investors and executives from the UK financial services industry.

Mr Reda stressed the purpose of the roundtable which was to identify new opportunities emerging from the financial markets for closer collaboration between the UK and Morocco and the broader Arab region.

The guest speakers explained from their various perspectives how the experience of Morocco in adopting reforms to its financial sector over the last three decades could be seen as a model to be emulated by other African and Arab countries.

Their observations ranged over Morocco’s response to challenges posed by the 2008 global financial crash and the recent COVID-19 pandemic.

Mr Senhaji stated that the main lesson to be learned from the Moroccan experience was that financial sector reforms should be introduced when a country’s economy was strong and not as an emergency response in a period of crisis. The financial markets should be viewed as part of the wider economy and as contributing to the prosperity of the country.

From left (front): Mr Sekkat Younes, Mr Nasser Seddiqi, Mr Tarik Senhaji, and Mr Bandar Reda.

Back: Mr Marouan Abousif, Morocco 1st Secretary (Economic Affairs) and Mr Abdeslam El-Idrissi.

Mr Tarik Senhaji, CEO, Casablanca Stock Exchange

Growth of E-Commerce in the Arab World

27 APRIL 2023

The second ABES2023 introductory forum was on the growth of e-commerce in the Arab world and was hosted by the ABCC on the afternoon of 27 April.

Welcoming speakers and delegates, Mr Bandar Reda, ABCC Secretary General & CEO, spoke of the rapid growth of e-commerce in the Arab world where the adoption of new technologies was high.

Opening the discussion, Mr Abdeslam El-Idrissi, ABCC Deputy CEO & Secretary General, stated that there were many definitions of what e-commerce actually entailed and it was the aim of the forum to explore the wider issues as well as the opportunities that the growth of technology created.

Mr El-Idrissi highlighted the success of ABES2022 which he described as “the only show in town” that brings together businesses from all over the UK and throughout the Arab world.

Speakers at the forum delivered insightful and engaging presentations on the many aspects of e-commerce and how it was dramatically transforming the retail sector in particular.

While global corporates such as Amazon were strong across the Middle East, homegrown brands were increasingly emerging, Dr Imran Zawwar, CEO, London Strategy Centre, observed.

Dr Zawwar described how e-commerce was now pivotal in the Arab region with more than 60% of shoppers now sourcing products from outside their countries.

The Arab population of 456 million people presented a growing and dynamic market for e-commerce, he said.

Andrew Elia, Managing Partner, Arishi, shared his insights as a technology expert observing that the rapid growth in e-commerce in the Arab region was creating major opportunities for investors. He saw adoption of new online payments systems as an important area of growth in the regional markets.

Mr Ralph Nehme, Economic Attache, Lebanese Embassy, London, provided details of the strength of the technology and innovation sector in his country.

He welcomed the strong bilateral ties between the UK and Lebanon which

was helping to build new relationships within the tech sector, including in e-commerce.

The final speaker, Marwan Gedeon, contributed to the discussion by delivering an online presentation from his office in Beirut.

Mr Gedeon was the founding partner of a successful tech company in Lebanon called CME Offshore sal, which was providing high quality professional services to clients worldwide.

The event concluded with a range of questions from the audience, including valuable remarks on the maturity of the Arab e-commerce sector, from the Libyan representatives, and ended with a networking reception.

From left: Mr Ralph Nehme, Economic Attache, Lebanese Embassy, Dr Imran Zawwar, CEO, London Strategy Centre, and Mr Andrew Elia, Managing Partner, Arishi.

Mr Bandar Reda.

Connect & Grow in Dubai DMCC Business Reception

DMCC – the world’s flagship free zone and Government of Dubai Authority

on

commodities trade and enterprise – has concluded its “Made For Trade Live” global roadshow in London, its eighth in the British capital, hosting business leaders from across the United Kingdom to showcase Dubai’s unique business environment to companies looking to expand internationally.

The business reception held at the ABCC Mayfair offices was titled “Connect & Grow in Dubai”. While the huge opportunities for doing business in Dubai are very familiar to the UK investors, the emirate continues to expand at a rapid rate which means there are always some new developments that need to be disclosed.

Held in partnership with the ABCC, the event saw senior DMCC executives brief around 150 business leaders from various sectors on the ease of doing business in Dubai through DMCC, one of the world’s most interconnected business districts. The discussion shed light on opportunities to strengthen trade relations between the UAE and the UK, in light of the ongoing free trade agreement discussions.

Speakers highlighted Dubai’s resilience to global economic headwinds, its low inflationary

environment, and its business-friendly policies, which have cemented its reputation as an international business and trade hub.

Mr Ahmed bin Sulayem, Executive Chairman and Chief Executive Officer

of DMCC, told the gathering, “Total trade in goods and services between the UK and UAE increased by 56.7% to US$23.5 billion in the 12 months leading up to Q3 2022, further highlighting DMCC’s ongoing role as a key strategic partner and why we are home to roughly 40% of British businesses in the UAE.”

Over the years, DMCC has been instrumental in developing and elevating the UAE-UK bilateral trade. It currently houses over 2,000 British companies, equivalent to around 8% of its member company base, acting as a conduit to British businesses looking to tap into regional and international markets

The event ended with a networking reception.

https://www.wam.ae/en/ details/1395303153962

Mr Mohammed Mohammed, Regional Representative (Americas & Oceana), DMCC

Mr Ahmed bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC

2nd Members’ Networking Event of 2023

25 MAY 2023

Companies from financial and business services, marketing, travel and tourism, health and education, were represented among the seven speakers.

Members and delegates welcomed by ABCC CEO & Secretary General, Mr Bandar Reda, who praised the strength of the Chamber’s membership and expressed his appreciation to them for supporting the Chamber and making use of our services.

Chairing the event, Mr Abdeslam ElIdrissi, ABCC Deputy CEO & Secretary General, explained the numerous benefits to investors and traders of taking out membership of the ABCC, which offered

a unique one-stop service to assist those doing business with the UK and Arab countries.

As well as the member presentations, the event saw the launch of a new initiative from the London Strategy Centre (LSC) to develop the talents and leadership skills of Arab entrepreneurs.

The LSC brought together a high powered panel of top executives from IT, education and industry to discuss the huge potential for cooperation in the development of human capital in Saudi Arabia and around the Arab world.

ABCC members presenting their companies were:

Zoe Buckingham Founder & MD Zoe Buckingham Ltd

Bryan Erazo Business Development Manager, Government Inspections Services & International TUV Rheinland UK Limited

Andrew Robertson Director of Private Care Moorfields Eye Hospital

Simon Denton

Managing Director Sovereign (UK) and Sovereign Group Services Ltd

Adam Ali Director of Pharmacy Education CBH Education Limited

Muslim Kanji Managing Director Cruxton Travel

Mohamad Daher CEO Credit Financier Invest Limited

Dr Imran Zawwar CEO London Strategy Centre

Dr Adnan Alturkistani Board Member, LSC

Pim Dale Advisory Board Member LSC

David Jones

Founder & CEO

The Talent Enterprise, UAE

Dr Ibrahim Alharthi

CEO

Madinah Institute for Leadership & Entrepreneurship

Stephen Rowe

VP, Training Solutions

BAES SDT

The ABCC was delighted to host its latest members’ networking event on Thursday afternoon 25 May 2023 where a capacity audience at our Mayfair premises heard various presentations from member companies sharing their expertise and insights.

Pim Dale, London Strategy Centre

Dr Imran Zawwar, LSC

Zoe Buckingham, Zoe Buckingham Ltd

Andrew Robertson, Moorfields Eye Hospital

Saudi-British Business and Trade Roundtable

8

JUNE 2023

A strong delegation of companies from the Federation of Saudi Chambers made a business visit to the ABCC on Thursday afternoon 8 June 2023, for a trade roundtable and networking event held in the boardroom of the Chamber’s Mayfair premises. The Saudi executives were warmly welcomed by Mr Bandar Reda, ABCC CEO & Secretary General, and the Rt Hon Baroness Symons of Vernham Dean, ABCC Chairman.

Mr Reda expressed his great pride to be hosting the delegation of leading companies from his own country.

Rt Hon Baroness Symons spoke of the booming Saudi economy and the exceptional developments taking place across the Kingdom which were opening up many new opportunities for British businesses in many different sectors. The ABCC Chairman was delighted by the number of Saudi businesswomen present among the delegation.

The event was an opportunity for the Saudi delegates to network with their UK counterparts, who were drawn from the ABCC membership and beyond.

For the Saudi delegation, Dr Emad Abdulaziz Al-Thukair, delivered a brief but positive message during which he paid tribute to the ABCC for its efforts in developing the UK-KSA partnership and commended the leadership of Mr Reda and Rt Hon Baroness Symons.

Rita Massoud, Senior Manager, ABCC, explained the role of the Chamber in acting as a bridge for British and Arab businesses and highlighted the ABCC’s services and programme of activities including the forthcoming Arab British Economic Summit in November. On behalf of the ABCC, Ms Massoud invited Saudi companies to participate in ABES23 which was expected to attract around 1,000 delegates representing firms of all sizes from SMEs to large corporations.

The Saudi delegation consisted of high level representatives from a broad spectrum of sectors including engineering, technology, law, healthcare, education, investment and wealth management.

They had previously been taking part in a UK Saudi Business, Trade, and Partnership Forum, held the day before on Wednesday, June 7 at the Mansion House in the heart of the city. This event

was supported by the City of London Corporation, the Department for Business & Trade and the Federation of Saudi Chambers of Commerce.

The forum reviewed the progress of the implementation of Saudi Vision 2030 since its first launch in 2016. Opportunities for deepening UKSaudi trade, investment and expertise exchange were discussed at the forum and continued at the ABCC event. The discussions centrally revolve around enhancing the scope for increased private sector engagement at a time when there is eagerness on both sides to develop the already strong bilateral cooperation in areas like financial and professional services, clean energy, education, healthcare and creative industries; the latter which are currently burgeoning as never before. The ABCC event gave ample scope for networking and one-to-one meetings between the UK and Saudi business executives present.

The Rt Hon Baroness Symons of Vernham Dean speaking, flanked by Dr Emad Abdulaziz Al-Thukair and Mr Bandar Reda.

Dr Emad Abdulaziz Al-Thukair, speaking, with Rt Hon Baroness Symons (right).

Roundtable on Investment Opportunities in Egypt

13 JUNE 2023

Thousands of new projects open for investment in various sectors and regions across Egypt were highlighted at our business roundtable, titled A Glimpse into Egypt’s Emerging Investment Opportunities, held in the boardroom at the ABCC 13 June 2023.

A receptive audience of UK investors and business leaders heard a detailed presentation from keynote speaker, H E Mr Hossam Heiba, President of the General Authority for Investment & Free Zones, who explained how the country’s ambitious investment programme was transforming the economy, through enhanced regulations and incentives and building new infrastructure all of which were contributing to increasing the productivity of Egypt’s highly diversified economy and making it a more attractive proposition for foreign investors.

Welcomed by Mr Bandar Reda, ABCC Secretary General & CEO, H E Mr Heiba was joined by the Head of the Commercial Office of the Egyptian Embassy, Mr Tamar Mostafa Ali. H E Mr Manar Debbas, the Ambassador of the Kingdom of Jordan to the UK, joined the roundtable.

Mr Reda shared his impressions of visiting the country, remarking on the impressive developments taking place and new attractive investment opportunities.

Mr Abdeslam El Idrissi, ABCC Deputy

CEO & Secretary General, chaired the discussion and described Egypt as a “land of opportunity” with huge potential for UK investors. He invited delegates to participate in the Chamber’s forthcoming Arab British Economic Summit (ABES2023) and hoped to see strong involvement from Egypt.

In the main presentation, H E Mr Hossam Heiba focused on the great strides that Egypt had made since the period of uncertainty and in the wake of global pandemic. The war in

H E Mr Hossam Heiba, President of the General Authority for Investment & Free Zones, speaking at the roundtable.

Europe had also had a regional impact in terms of a rise in inflation and food security although Egypt was showing economic resilience and ability to overcome turbulence.

Outlining Egypt’s strengths, Mr Heiba, stressed the diverse nature of the economy, its large market, still underutilised natural resources and its growing strategic role within the regional and global economy.

He stated that Egypt had embarked on an extensive reform programme in partnership with the World Bank and IMF and this was now bearing fruit.

Growth was particularly strong in certain key sectors, the official remarked.

Ambitious infrastructure upgrading was notable within the roads network and the plans to increase capacity of energy production and enhance food security.

Driven by its economic vision, Egypt had achieved noteworthy success with its renewables strategy by building the largest solar park in Africa. Green hydrogen projects were also part of the renewables plan, Mr Heiba told the delegates gathered at the roundtable.

New cities across the country had been opened along with new industrial parks and economic zones and all had been implemented since 2015.

The Egyptian government had taken

many steps to improve the business regulations to make the market more attractive to investors through increased competitiveness, a range of incentives and greater fairness to encourage private sector growth.

Significant opportunities were available in areas such as textiles, automobile manufacturing, pharmaceuticals and healthcare, Mr Heiba explained, who provided data and details to support his observations.

He pointed to the potential for

outsourcing of IT and data centres in Egypt as well as the growth in ports infrastructure and logistics.

IT was a growth area of the economy in Egypt which could now boast 60 thousand registered software developers.

Engineering and technology expertise were highly efficient and competitive industries, Mr Heiba said.

Mr Tamar Mostafa Ali, Head of the Commercial Office, Egyptian Embassy, reiterated the positive assessment of the economy and the many opportunities available for investment.

Mr Ali described the ABCC as offering a great platform for introducing investment opportunities to British businesses and looked forward to closer dialogue with UK investors.

The roundtable concluded with a series of questions from the audience which touched on various favourable measures introduced by Egypt to enhance its attractiveness. These included the golden license facility which had been expanded, the competitive labour costs, the steps taken to achieve food security and the country’s digital transformation which was moving forward at pace. The presentation proved to be highly effective in explaining many of the positive outstanding issues that investors would want to consider when contemplating making new investment in the country.

Mr Abdeslam El Idrissi standing.

H E Mr Manar Debbas, Ambassador of the Kingdom of Jordan to the UK (second left) with Mr Bandar Reda and Mr Hossam Heiba.

From left: Mr Tamar Mostafa Ali, Mr Hossam Heiba, Mr Abdeslam El Idrissi and Mr Bandar Reda.

Palestinian Tech Entrepreneurs Visit the ABCC

14 JUNE 2023

A delegation of representatives from Palestinian tech companies were welcomed to the ABCC on the evening of 14 June 2023.

They were in London to participate in and exhibit at London Tech Week, held between 12 and 16 June. The tech week is now the UK’s largest and most influential tech event. LTW saw its 10th anniversary this year.

Among delegation were many new start-ups, established companies and tech entrepreneurs. They were warmly welcomed at the ABCC premises and held a series of discussions with guests at the reception that followed to introductory speeches.

Heading the delegation was H E Mr Khaled Osaily, the Minister of National Economy at the Palestine Economic Ministry, who has been in post since April 2019. He delivered an extensive briefing on the numerous successes of Palestine’s economy in different sectors.

The minister and members of the delegation held private discussions on joint working and cooperation with Mr Bandar Reda, CEO & Secretary General and Mr Abdeslam El-Idrissi, Deputy CEO & Secretary General.

The Minister later told a packed reception in the ABCC’s board room that the economy remained robust and highly competitive despite the well-known impediments that Palestinian private and public sector companies all faced. In particular, Mr Osaily praised the tech sector for its consistent growth and dynamism.

Mr Osaily also chairs the Palestinian Investment Promotion and Industrial Estate Agency (IPIEA) and has a background as a successful business executive in the private sector. He paid tribute to Palestinians for their exceptional entrepreneurship, a sentiment reiterated by all the speakers.

Joining the delegation was Mr Feras Nasr, Innovation Manager for the UK Palestinian Tech Hub, who spoke about the cooperation between the UK government and Palestine to develop the tech sector.

Ambassador H E Dr Husam S Zomlot, Head of the Palestinian Mission to the United Kingdom, also accompanied the delegation on their visit to the chamber.

Mr Reda and Mr El-Idrissi both pledged the ABCC’s longstanding commitment to support the Palestinian economy and its young innovative entrepreneurs.

H E Dr Husam Zomlot expressed pride in the success of Palestine’s excellence of the country’s tech sector which could compete with even the largest international tech companies.

During his visit to London Tech Week 2023, Dr Zomlot said he was “proud” of the Palestinian stand at the event which took place at the Queen Elizabeth II Centre, Westminster.

Palestine’s pavilion at the event had proved enormously successful prompting the senior Palestinian diplomat take to twitter: “London Tech Show: Proud of the Palestinian pavilion.

“Beautiful and popular. Replete with stories of the success and creativity of our youth. Our quality competes with the biggest international companies. Opening global markets to the Palestinian economy is one form of resistance.”

The growth of the tech industry in Palestine is a hopeful sign for the future. The ABCC has invited Palestinian tech firms to participate in ABES2023 in November.

The Palestinian tech firm delegation was organised by the Palestinian authorities in cooperation with the UK Palestinian Tech Hub, which supports Palestine’s entrepreneurs and tech leaders to acquire the skills, resources and connections essential to accelerate their businesses.

The UK Palestinian Tech Hub is supported by the British Consulate General Jerusalem. It organises a year-round calendar of activities and events as part of an initiative designed to build new connections and collaboration between the British and Palestinian tech ecosystems in the expanding tech sector.

https://www.ukpalestinianhub.com/

H E Mr Khaled Osaily and Ambassador H E Dr Husam S Zomlot, Head of the Palestinian Mission to the UK.

Palestine’s Minister of National Economy, H E Mr Khaled Osaily (right) with Mr Abdeslam El-Idrissi and Mr Bandar Reda.

ABCC Hosts Iraq Ministerial Roundtable

The meeting with one of Iraq’s most senior political figures attracted a capacity audience of investors, business executives, diplomats and media representatives.

The discussion took place within the presence of H E Mr Mohammad Jaafar alSadr, the Iraq Ambassador in London.

Dr Hussein delivered a comprehensive speech during which he ranged widely over Iraq’s recent history and highlighted the country’s latest progress in achieving security and economic development.

Addressing the priorities of the new government that assumed office in Baghdad in October 2022, the Minister

spoke of plans to diversify the economy, encourage the private sector, attract investment, rebuild the infrastructure and provide job opportunities for Iraqis.

Investors increasingly realise that Iraq’s security situation has improved significantly, and all leading groups were working together in government to provide better services for the people, the Minister stressed.

The Deputy Prime Minister expressed his country’s hopes for closer relations with the UK and looked forward to holding fruitful discussions with British ministers during his visit.

Dean, Chairman of the ABCC, praised Iraq for the remarkable advances it has made in recent years and commended Dr Hussein for his willingness to take questions from the audience.

The numerous questions covered such topics as Iraq’s oil industry, plans for developing gas, reforms to its banking and financial services sector and amending the country’s investment law.

Mr Bandar Reda, ABCC Secretary General & CEO, described Iraq as a remarkable country and indicated the chamber’s keenness to assist in building stronger business links between the UK and Iraq.

The ABCC was honoured to host H E Dr Fuad Hussein, the Deputy Prime Minister and Minister of Foreign Affairs, Republic of Iraq, for a ministerial roundtable on the evening of 3 July 2023.

The Rt Hon Baroness Symons of Vernham

H E Dr Fuad Hussein, Iraq Deputy Prime Minister and Minister of Foreign Affairs, (speaking, second left), with (from left) H E Mr Mohammad Jaafar al-Sadr, Iraq Ambassador to London, Ambassador Haidar Al-Athari. Head of Europe & Engineering Departments, Iraq Ministry of Foreign Affairs, Mr Bandar Reda, ABCC Secretary General & CEO, and the Rt Hon Baroness Symons of Vernham Dean, ABCC Chairman.

Meeting with Iraq Ambassador

Meeting with H E Ambassador of the Kingdom of Bahrain

Mr Bandar Reda, our CEO & Secretary General, and Deputy CEO & Secretary General, Mr Abdeslam El-Idrissi, were honoured to be received by H E Mr Mohammad Jaafar M Bakr Haidar Al Sadr, Ambassador of the Republic of Iraq, at the Iraq Embassy in London on 7 June, where they held fruitful discussions on a range of matters including collaboration between the embassy and the ABCC and efforts to boost the trade exchange between the UK and Iraq.

Meeting with Libyan Embassy Officials

ABCC Secretary General, Mr Bandar Reda and Deputy CEO & Secretary General, Mr Abdeslam El-Idrissi, were honoured to be received by H E Shaikh Fawaz bin Mohammed Al Khalifa, the Ambassador of the Kingdom of Bahrain to the UK, on 30 May 2023, where they held productive discussions on future cooperation including organising Arab Ambassadorial business visits to different regions of the UK.

Visit by Bahrain’s Minister of Industry and Commerce

ABCC CEO & Secretary General, Mr Bandar Reda and Deputy CEO & Secretary General, Mr Abdeslam El Idrissi, held a productive meeting with Mr Khaled Jweda, Libyan Charge d’Affaires, along with Libyan officials, Mr Walid Matough, Ms Samira Ben Ategh and Mr Salaheddin Abuaboud. The two sides held extensive discussions on a broad range of key strategic issues and the huge potential offered by Libya across ICT, tourism, agriculture and other economic areas, and the role of the ABCC in strengthening UK-Libya cooperation. The meeting took place at the Libyan Embassy on 24 May 2023.

H E Mr Abdulla bin Adel Fakhro, the Minister of Industry and Commerce, Kingdom of Bahrain, paid a visit to the ABCC’s Mayfair premises on Monday 3 July 2023 where he was received by the Rt Hon Baroness Symons, ABCC Chairman and Mr Bandar Reda, our Secretary General & CEO. Productive discussions were held on closer partnership between Bahrain and the Chamber in the promotion of UK-Bahrain business, trade and investment.

Your guaranteed road

Surrounding the uncertainty of Brexit, the Arab-British Certificate of Origin remains the certain method to trade with the Arab world. There will be no changes to the certificate, and the ABCC’s services will suffer no interruption irrespective of Brexit’s outcome.

The Arab-British Certificate of Origin remains the only certain, secure and reliable means of export documentation for companies trading with the Arab world. There have been no changes to the certificate, and, likewise, the ABCC’s range of trade services remain entirely unaltered in the post-Brexit trading environment.

We at the ABCC remain available to support your exporting and wider business needs.

We at the ABCC remain available to support your exporting and wider business needs.

Head of International Trade

Located in the heart of London’s prestigious Mayfair, the ABCC boasts unique and elegant spaces perfectly suited for your business meetings, conferences, exhibitions, arts events and more.

Executive Course: Strategy in the Digital Landscape

2 DAY COURSE

JULY 19 & 20, 2023 (GMT+1) // LONDON

Venue: ABCC Premises, 43 Upper Grosvenor Street, Mayfair W1K 2NJ

Digitization is revolutionizing markets and redefining the rules of competition; it is transforming the way business is being performed today. Although the longterm impact of digital revolution promises a bright future, the process is far from being linear and many businesses are at risk of falling behind. This situation poses a challenge for executives who need to carefully plan their strategic response to digital disruption. The question then is: If competitive advantage requires crafting a winning strategy, why do we spend so little time strategizing and all the time talking about the technology?

This programme rebalances these priorities and enables the participants to develop robust and meaningful technology-centered strategies. This programme is not about why you should digitally transform, it is about how you should transform and become more strategic. New practices and technologies continue to upend traditional business models, and this programme is designed to help executives understand this rapidly changing environment and make strategic choices. This programme offers tools and concepts that will help the participants to develop a strategic response which can turn digital threats into opportunities. It will enable participants to leverage digital opportunities to create competitive advantage and improve performance.

Participants on this programme will be led, not lectured, through a combination of presentations, facilitated discussion, and activity-based learning.

EXECUTIVES (INCLUDING POLICY MAKERS, CEOs AND DIRECTORS) WHO:

• are responsible for defining and implementing the strategic direction of an organisation

• are impacted by digital disruption

• want to gain competitive advantage and transform their organisation

SOME OF THE BENEFITS OF TAKING THIS PROGRAMME

Adapt to changing market conditions: The digital landscape is constantly evolving, and organizations that fail to adapt risk falling behind their competitors. Digital transformation can help organizations stay ahead of the curve by enabling them to embrace new technologies and respond quickly to changing market conditions.

Improve operational efficiency:Digital transformation can help organizations streamline processes, automate tasks, and eliminate manual work, which can lead to improved operational efficiency and cost savings.

Enhance customer experience:Digital transformation can help organizations provide a seamless, personalized customer experience across multiple channels, which can improve customer satisfaction and loyalty.

Unlock new revenue streams: Digital transformation can enable organizations to offer new products and services, reach new customers, and tap into new markets, which can unlock new revenue

streams and drive growth.

Gain a competitive advantage: Digital transformation can help organizations differentiate themselves from their competitors by offering innovative products and services, improving customer experience, and enhancing operational efficiency.

Future-proof the organization:Digital transformation can help organizations prepare for the future by building a culture of innovation, embracing emerging technologies, and staying agile and adaptable.

About the Speaker

Dr Imran Zawwar is an executive development strategist with experience in Asia, Middle East, Europe, and Australia. He is a former Naval officer, and prior to his role with London Strategy Centre (LSC) he was working at Cranfield as Regional Director Executive Development Programmes and Asst. Professor Strategic Management. He has led several executive and corporate development engagements/programmes.

He is an accomplished executive with a proven track record of leading complex portfolios and diverse teams with a vision to transform the learning experience using immersive, experiential and authentic learning opportunities working collaboratively to implement evidencebased change, underpinned by rigorous scholarly analysis.

Imran holds an MBA with two Academic Gold Medals; MS in Public Policy and Management from Carnegie Mellon University with Highest Academic Distinction and a PhD in Entrepreneurial Economics from Cranfield School of Management.

Dr Imran Zawwar, AFHEA CEO, London Strategy Centre, UK

To register and to find out more https://abcc.glueup.com/event/ executive-course-strategy-in-thedigital-landscape-75375/

Dr Imran Zawwar

IMPORT PROCEDURES ONLINE TRAINING

FRIDAY SEPTEMBER 15 (GMT+1) 10:00 - 12:30

Overview

This course will consider the basic procedures, terminology and documentation involved in importing. It will give an overview of the entire importing process including supplier selection, evaluation of risks, supply chain, terms of delivery, methods of payment, selection of clearing agent, duty and excise and the role of UK customs.

The course will explore:

• CPC Codes – A brief explanation of what they are

• SAD C88 Form – An overview

• CHIEF and the new CDS system

• Checking Customs Entries

• Being prepared for HMRC audits

• Import Duties and VAT

• Import Landed Cost Calculation

• Valuation Methods for Imports

• Tariff codes

• The Harmonised System

• Duty Relief Schemes

• Customs Warehousing

• Inward Processing Relief

Who should attend?

This course is suitable for companies new to importing as well as experienced companies who may want to refresh and update their knowledge. The course is especially beneficial for people working in Customer Services, Shipping, Purchasing, Accounts and Finance, Import Administration, Logistics, Production Planning, Technical Support, Quality and Standards. Repairs and Distribution.

Key information

Course duration: 2 hours and 30 minutes

Member price: £100+VAT Non-member price: £150+VAT Certificate of Completion: on completion of your course, you will earn a digital certificate.

TO REGISTER

https://abcc.glueup.com/event/73822/register/

UNDERSTANDING COMMODITY CODES

ONLINE TRAINING

FRIDAY NOVEMBER 24 (GMT+0) 10:00 - 12:30 GMT+0

Course description:

This course covers all the key elements of the Tariff/Commodity code. It highlights the commercial implications of the correct use of the Tariff/Commodity code and the importance of having a good understanding of them, which will help ensure successful and efficient global business.

Areas covered:

• What is the Tariff and the World Trade Organisation

• The importance of the Tariff and areas of international trade it applies to

• How a Tariff/Commodity code is made up

• Determining the correct code for your products

• The export process and customs information requirements

• Tariffs and Trade Agreements

• The Rules of Origin and Tariff Codes

• Landed cost analysis

• Using Tariff Codes to work out the costs of your products in export markets

• Checking overseas tariffs for import compliance and competitiveness

• Sources of information

Who should attend?

This course is suitable for companies new to international trade as well as experienced companies who may want to refresh and update their knowledge. It is especially beneficial for staff who work in export sales, purchasing, logistics, accountancy, import and export shipping departments, customer services, import and export administration.

Follow the link for further information and to register https://abcc.glueup.com/event/understanding-commodity-codes-73820/

Preparing businesses for the new corporate tax in the UAE

By Christian Svendsen, Taki Tax and Finance Ltd

It has been known for some time that the United Arab Emirates (“UAE”) was intending to introduce a new corporation tax from 2023. On 9 December 2022 the UAE government issued The Federal Decree-Law No. (47) of 2022 on the Taxation of Corporations and Businesses which provides the legal basis for the corporation tax that is being introduced.

The new tax rules take inspiration from best practices around the world and the language used and some of the principles introduced are closely aligned with elements of UK and other OECD tax principles. This is one of the benefits of creating a new tax system that the UAE has been in a position where they can set the principles from the beginning in a clear language.

So, what does the introduction of the new corporation tax in the UAE mean for businesses? And what are the steps that each business must take to be compliant with the new rules?

Who is affected by the new law?

The rules will affect the majority of persons (including legal persons) who are carrying out business activities in the UAE. In a simple version the affected persons are:

• Companies (and other legal persons) that are incorporated or effectively managed and controlled in the UAE;

• Natural persons (individuals) who conduct a Business or Business Activity in the UAE; and

• Non-resident juridical persons (foreign legal entities) that have a Permanent Establishment in the UAE.

Free Zones

It is important to mention that this also covers companies and other juridical persons established in a UAE Free Zone. Hence, even Free Zone persons will need to comply with the rules and register for corporation tax. However, qualifying free zone persons will continue to enjoy a corporation tax of 0% on their qualifying income.

What should also be noticed is that individuals who carry out business will be caught by the rules. Hence, a sole trader or entrepreneur will also need to register and comply with the tax rules.

Finally, foreign businesses may also need to comply if they have a permanent establishment in the UAE. Foreign businesses especially need to be careful

about what constitutes a permanent establishment. This could particularly affect the e-commerce space depending on how their supply chain is set up.

Hence, the rules will affect almost anyone doing business in the UAE and therefore most persons will need to register to obtain a corporation tax number in order to file their corporation tax returns and pay their taxes.

When does it affect your business?

The new corporation tax will take effect from the first accounting period starting on or after the 1 June 2023 and as we have highlighted will affect almost anyone who does business in the UAE. As a consequence, affected persons will need to register for corporation taxes.

The deadline for registration varies depending on when the next accounting period starts. However, the general rule, you need to be registered by 9 months after the end of the first relevant accounting period.

The first relevant accounting period is the first accounting period that commences after the 1 June 2023. As an example, if your accounting period is 1 June to 31 May each year, then the first relevant

period would be starting on 1 June 2023 and finish on 31 May 2024. You would then have 9 months after that, i.e. until 28 February 2025, to register.

Similarly, if your accounting year is the calendar year, then your first relevant accounting period would be the period commencing on 1 January 2024. As a result, your deadline for registering for corporate tax as well as filing your tax return and paying your tax bill would be the 30 September 2025.

However, there is no need to wait with the registration until the very last minute to protect yourself against any changes to the rules, but also to avoid breaching the deadlines for filing your tax return and paying the taxes. Therefore, it is advisable to register ahead of the tax return filing deadline to make sure that all the certificates and online access details are available.

What will be taxed and at what rate?

The element that most persons are concerned with is how much will they get taxed. This typically depends on two elements:

1) The rate of taxation and

2) The amount that the rate will be applied to.

The rate of taxation will be 9% on profits above AED 375,000 (approximately $102,000). Anything below this threshold is taxed at 0%. It is important to note that despite not owing any taxes, the person would still need to file his tax return to be compliant. This is especially relevant for persons in a free zone who will benefit from a 0% corporation tax rate instead of the general 9% rate.

The amount on which the tax will be assessed on the basis of the accounting profits for the period prepared in accordance with the accounting standards applicable in the state. There will then be adjustments made to the profits as allowed by the law. These changes include both certain income streams that are exempt – mainly dividend income, which will not form part of the tax base.

In terms of deductions of costs, the general rule is that most costs are allowable provided that they serve a business purpose. However, certain notable costs are restricted such as:

Client entertainment expenses (reduced deductibility – only 50% deductible) Interest expenses (reduced deductibility –max 30% of EBITDA)

In addition, in cases where you are dealing with connected parties, there is a requirement for any transactions to take place at an Arm’s Length price. Otherwise, an adjustment may be required under the transfer pricing rules. This is an area of great focus internationally and it would be expected that the UAE rules aligns closely with OECD recommendations in this respect.

Finally, an important point relates to the possible deduction of losses from previous years. The utilization of carried forward losses is limited to 75% of the taxable profit before the deduction of losses from previous accounting periods. Please note that the losses carried forward can only be for accounting started on or after the 1 June 2023.

What are the new challenges for businesses?

With any brand new set of rules there will always be challenges that businesses have to contend with, especially when the new rules introduce a whole new exposure to legislation and costs. The key immediate challenges are:

Challenge 1: Impact on investment projects

Each business will need to make considerations around the profitability of each investment, as introducing a new cost of 9% of profits will all else equal require a higher level of profit to achieve the same return on capital, compared to a situation where no tax was introduced.

The risk is that as a consequence some projects may no longer be viable. In such situations companies will need to turn to more innovative solutions on the financing front or go back and review the project itself to find other design options to remain profitable.

Challenge 2: Additional compliance burden, cost and risk

When a new system is introduced it automatically adds a new compliance burden on the business, especially when it comes to record keeping (now 7 years for corporation taxes) and documenting

transactions. It often hits smaller businesses disproportionately, as the level of basic compliance is similar, but these businesses naturally have fewer resources available to them to deal with the added administration.

In addition to the pure administration, there is an increased risk of a tax investigation, which can be time and resource intensive. There may also be additional risk on the manager/directors in terms of their legal liability in case something is actually wrong.

Therefore, it may be wise for businesses to consult with their local advisor who can help your business become compliant and help support you through the transition.

What should a business do now?

With the rules coming into force soon, it is important that anyone doing business in the UAE familiarize themselves with the rules and their obligations. The UAE Ministry of Finance has produced a good overview of the rules https://mof.gov.ae/ corporate-tax/.

It is also advisable that you seek advise from a local tax advisor to make sure you are ready when the rules kick in. Finding the right advisor can be valuable as it can reduce the time you spend on administration which will allow you more time to run your business. After all, the value of your business is created by you selling your products and services, not doing tax compliance. But a lot of value can be lost if you are not compliant, so make sure you understand your obligations and your risk.

About the author

Christian Svendsen is a Chartered Tax Advisor and the managing director of Taki Tax and Finance Ltd., a UK based tax and M&A advisory firm located in London. Taki Tax and Finance Ltd. advises companies and individuals on their tax affairs in the UK and on international tax aspects, with a strong focus on setting the client up for maximizing his/hers wealth accumulation potential. We also support business owners and companies in relation to mergers and acquisitions.

Taki Tax and Finance Ltd is an ABCC member.

https://www.takitaxandfinance.com

Kingdom of Saudi Arabia Introduces New Companies Law 2022

By Abdullah Rauf

In June 2022, the Kingdom of Saudi Arabia (KSA) issued the New Companies Law pursuant to Cabinet Resolution No. 678 dated 29/11/1443H (corresponding to 28/06/2022) and ratified by Royal Decree No. (M/132), dated 01/12/1443H (corresponding to 30/06/2022) (New Companies Law) with the aim of providing greater flexibility to corporate structures and follow international best practices.

The New Companies Law will be effective one hundred and eighty (180) days following its publication in the Official Gazette. The KSA 2015 Companies Law and the KSA 2019 Professional Companies Law will be repealed once the New Companies Law comes into effect. Any other provision in any other law in force which conflicts with the New Companies Law will be overridden by this New Companies Law.

The Law regulates both commercial companies and non-profit companies. It reduces the requirements and simplifies the procedure for establishing a new company. These include, inter alia, the option to include commercial terms and conditions in the contracts of incorporation of a company or in its articles of association. Further, restrictions on company names

under the previous legislation have been removed pursuant to the New Companies Law.

The New Companies Law also introduces a new form of company, a simple joint stock company that meets the needs of entrepreneurship and venture capital growth. A simple joint stock company may also serve as an

Puri, Noora Khan and Bilal Kahlon, Trowers & Hamlins.

investment arm to non-profit companies that enables non-profit companies to invest and generate returns and spend such returns on non-profit purposes. A simple joint stock company provides a flexible corporate structure and may be established by one or more persons. It shares the same benefits as a limited liability company in terms of no minimum share capital requirement, flexibility in management and ease of establishment and also enjoys the benefits of a closed joint stock company in terms of ability to trade shares and issuing shares under different classes. The New Companies Law also provides that general meetings for joint stock companies and simple joint stock companies may be held virtually.

The regulatory requirements in relation to small, medium, and micro companies have also been made less stringent under the New Companies Law. It is no longer mandatory for small and micro companies to appoint a certified auditor. A micro company is classified as a company which has up to five (5) employees with a total turnover of less than three million Saudi Riyal (SAR3,000,000). A small company is classified as a company that has between six (6) and fortynine (49) employees with an annual turnover of three million Saudi Riyal (SAR3,000,000) to forty million Saudi Riyal (SAR40,000,000). However, foreign companies will still be required to have auditors even if such companies fall within the purview of a small or a micro company.

In addition to the above, amendments have been made to the provisions pertaining to transformation and merger of companies and allowing the owners of individual entities to transfer assets to any type of company. The New Companies Law also allows mechanisms permitting a company to be divided into two (2) or more companies. The New Companies Law allows greater flexibility in relation to the issuance of shares. Under the New Companies Law ordinary, preference and redeemable shares may be issued with certain rights and privileges attached to certain class of shares, including voting rights and dividends. It also provides for shares to be divided or split into shares of lower value or consolidated to represent shares of a higher nominal value.

The New Companies Law allows all partners and shareholders of a company to conclude a family charter which consists of regulating the family ownership of the company, including its governance, work policies, policies adhering to the employment of family members, distribution of profits or disposing of shares and the settlement of disputes and others. A family charter is binding and may be part of the companies’ articles of association if it does not violate any provision of the New Companies Law, any other laws or is inconsistent with the articles of association or incorporation of the company. A company’s articles of association may also provide for the settlement of disputes that may occur between partners or between the company and its managers by

resorting to arbitration or other alternative means of settling such disputes.

The New Companies Law now allows limited liability companies to also issue tradable debt and financial instruments with the approval of the partners and in accordance with the constitution documents of the company. It also allows for the distribution of interim/ annual dividends to partners/ shareholders in joint stock companies, simplified stock companies and limited liability companies in accordance with the company’s constitutional documents and policies.

The New Companies Law lifts restrictions in relation to the number of directors on the board of closed joint stock companies and joint stock companies allowing for a greater representation at board level. The New Companies Law does not impose any limitation on the remuneration of the members of the board of directors allowing the top performing directors to be remunerated accordingly, allowing businesses to attract and retain the best talent on board level.

Under the New Companies Law dragalong, tag-along and pre-emption rights have also been introduced which can form part of some joint venture arrangements. A tag-along right allows the minority shareholders to participate in a sale of shares by the majority shareholders to a third party at the same price and on the same conditions. Similarly, a drag-along right allows the majority shareholders to compel the minority to accept an offer from a bona fide buyer to purchase all the company’s shares at the same price and conditions. Shareholders of an entity may also have a right of first refusal regarding any transfer of shares made by other shareholders to a third party.

The New Companies Law appears to be another milestone to further and support the objectives of the KSA Vision 2030 initiative, introducing significant changes to the KSA corporate law framework with the aim of attracting investment in small and medium companies by simplifying procedures and regulatory requirements and promoting corporate governance in line with best international practices.

Mediating Commercial Disputes in the Arab World

In this article, barrister, Peter Smith, considers the good prospects for mediating commercial disputes in the Arab world, particularly considering the new 2020 Singapore Mediation Convention.

What is mediation?

Mediation is a voluntary process for discussing and resolving disputes. It improves the efficiency of dispute resolution and offers flexibility to commercial parties, who drive the process. The mediator’s role is not to decide, but to facilitate discussions between disputants to arrive at a mutually acceptable solution. The mediator is chosen by the parties by mutual agreement, and then meets at a convenient time with parties together and individually to hear their side of the story and to facilitate the testing of both side’s positions.

Why do it?

Good mediators can solve conflict early. The earlier the mediation can take place, the greater the saving in terms

of costs both of time and legal fees and the best chance will be provided to maintain a good relationship between the parties.

The Singapore Mediation Centre, a leading mediation hub, reports that 90 per cent of disputes referred to its centre were settled within one day. Whilst mediation requires parties and their advisors to expend time and energy preparing for and attending the mediation and paying for the costs of the mediator, a successful mediation is usually far cheaper than the alternatives of litigation or arbitration.

As a result, the nature of the process promotes the preservation of relationships between the parties. The mediation process is flexible,

confidential, and, in many instances, more cost and time efficient than other dispute resolution processes such as litigation and arbitration. For States, the process can help relieve pressure on national court systems.

Mediations can take place in any language (such as English, French or Arabic), and can be virtual or in person (the latter is preferred). Specialist mediators, trained and accredited by mediation institutions, are often available.

What about the enforcement of a mediation agreement?

A successful mediation will lead to a compromise agreement that settles the dispute on agreed terms and should dispose of the underlying dispute process.

However, until recently an often-cited challenge to the use of mediation in commercial disputes was the lack of an efficient and harmonised framework for cross-border enforcement of settlement agreements resulting from mediation.

The Singapore Convention on Mediation entered into force at the United Nations Convention on International Settlement Agreements Resulting from Mediation in 2020. The Mediation Convention was expressly developed and adopted by the UN to overcome the problem of enforcement and to provide an efficient and harmonised framework for the cross-border reliance on mediated settlement agreements. The Mediation Convention is thus cross-border tool in the same box as the 1958 New York Convention on the Recognition and Enforcement of Arbitral.

The Mediation Convention was finalised in mid-2018 and opened for signature in Singapore on 7 August 2019, attracting 46 signatories that day, including the world’s two largest economies (the United States and China) as well as three of the four largest economies in Asia (China, India, and South Korea). Another 24 countries attended the signing ceremony in Singapore to show their support for the Convention.

Mediation in the Arab world

The Mediation Convention has had a high take-up amongst GCC countries.

In Saudi Arabia, Royal Decree 96/2020, gives effect to the Convention. The decree implements Saudi Arabia’s obligations, with international mediation settlement agreements falling within the scope of the Convention directly enforceable in the courts of the Kingdom of Saudi Arabia from 5 November 2020 unless the settlement agreement in question relates to the Kingdom of Saudi Arabia itself, any of its governmental agencies, and any persons acting on behalf of those agencies.

Saudi Arabia has taken other steps to promote mediation domestically. The Commercial Courts Law, issued through Royal Decree 93/2020, reorganized and empowered the country’s commercial courts and included provisions encouraging the use of alternative dispute resolution. In particular, the law imposes mandatory conciliation and mediation under certain circumstances provided in the Commercial Courts Regulations, issued through Ministerial

Resolution No. 8344/2020. They include disputes valuing between SAR100,000 and SAR1million arising out of commercial contracts, or disputes which contain contractually agreed pre-claim mediation provisions.

The Saudi Ministry of Justice (MoJ) has promoted mediation in other ways with the express intention of increasing the percentage of successfully mediated cases, for instance through the following: the launch of the Taradhi platform, which allows online, remote provision mediation services from the filing of the claim through to settlement without any visit to the court; and the launch of the MoJ’s own Conciliation Centre alongside the empowerment of notaries to notarize mediated settlement agreements. Once the Conciliation Centre recognises a settlement agreement, it becomes an instrument enforceable through the court system.

In Qatar, Emiri Decree 79/2020 ratified the Singapore Mediation Convention. In late December 2021, Qatar published the Mediation Law (Qatar Law No. 20/2021 on the Issuance of the Law on Mediation in the Settlement of Civil and Commercial Disputes) containing procedures and methods of mediation, conditions to be met by the mediator, provisions for stay of proceedings, and settlement agreement procedures.

In May 2022, Qatar’s Investment and Trade Court began operation, with express provisions for certain types of mediation in its rules. Qatar’s common law court, the Qatar Financial Centre Civil and Commercial Court, also expressly makes provision for alternative dispute resolution and has specific rules for mediation. ADR bodies in Qatar have also issued rules in support of mediation: the Conciliation/Mediation Rules of the Qatar International Center of Conciliation and Arbitration (QICCA) were issued in 2012, for instance; a revised set of rules which takes into consideration the application of the Singapore Convention was issued in 2021.

In March 2022, the United Arab Emirates announced it was to join the Singapore Convention. The UAE will be the 56th signatory to the Singapore Convention and will begin implementing a framework for the enforcement of settlement agreements resulting from mediations in international commercial disputes. The UAE’s common law courts (the Courts of the Dubai International Financial Centre and Abu Dhabi Global

Market) both already expressly provide for mediation in their court rules.

Bahrain took another key step towards the development of its ADR Framework in 2019 with the promulgation of the mediation law for dispute resolution under (the Mediation Law (Decree 22/2019). Bahrain’s Mediation Law gives mediation settlements the status of an executable document; mediation settlements made in Bahrain are now directly executable with the court without the need for filing a claim on the merits. Cross-border settlement agreements still require the bringing of a claim; claims brought for this purpose are perceived as a formality and the jurisdiction of the court is limited to checking that all requirements stipulated within the Mediation Law are met, without going into the subject of the settlement itself, akin to the procedures of enforcing an international arbitration award under the UNCITRAL Model Law for arbitration.

The Future

Other countries with substantial commercial relations with the Arab world have also implemented the Singapore Mediation Convention, including Kazakhstan and Turkey.

However, at present the UK is not a party to the Convention. The UK’s Ministry of Justice ran a consultation in early 2022 and is currently considering its response to the consultation.

There is a strong likelihood that the UK will accede to the Convention. An indicator of this was the announcement in July 2022 that civil claims under £10,000 brought in England and Wales would be diverted to mediation automatically, for a free mediation of up to one hour with a professional mediator provided by the court. The plan was expressed to be part of wider efforts to promote the use of mediation and help people resolve their disputes away from the courtroom.

Nonetheless, the advent of the Singapore Mediation Convention and other amendments to domestic legislation in the UK and key Arab states makes mediation an increasingly viable form of international commercial dispute resolution.

Peter Smith is a barrister at Outer Temple Chambers, working in Dubai. He frequently acts in domestic and international disputes for businesses in disputes across the GCC.

The Great Balancing Act: Thriving in a Disruptive Business Environment

By Dr Syed Yaqzan and Dr Imran Zawwar, London Strategy Centre

Businesses today face an unprecedented and challenging time as they navigate through a range of competing concerns. On the one hand, they are under immense pressure due to the post-pandemic economic recovery, which has affected their revenue streams and disrupted their supply chains. On the other hand, the rising costs of doing business, such as energy and raw material costs, threaten their commercial viability. Adding to these complexities, the pressure from key stakeholders, such as governments and regulators, is pushing businesses to take more climate action, which requires significant investment and changes in their operational practices.

Balancing these competing concerns is a major challenge for businesses today, requiring agility and innovative thinking to thrive in this dynamic environment.

However, the upcoming decades are set to be a period of unprecedented transformations for humanity. The emergence of cutting-edge technologies, such as Artificial Intelligence (AI), is poised to revamp numerous fields, ranging from

scientific discovery to human engagement and economics. AI has the potential to harness vast amounts of data and make breakthrough advances in areas such as healthcare, agriculture, education, and transportation. We are already seeing how AI can help doctors reduce medical mistakes, farmers improve yields, teachers customize instruction, and researchers unlock solutions to protect our planet.

In addition, AI for businesses, such as ChatGPT, can foster innovation by providing insights, automating processes, and enhancing decision-making. ChatGPT can also assist businesses in leveraging the metaverse, a three-dimensional virtual environment where people interact, by analyzing data and providing insights into user behaviour, market trends, and preferences.

Additionally, by automating virtual customer service and content creation, ChatGPT can improve the user experience and reduce costs, thereby unlocking new opportunities for organizations in this burgeoning field.

Moreover, technological advances also raise complex questions and concerns about their impact on society. Therefore, we must maintain an open and questioning mind while we seek to take advantage of the opportunities and address the challenges that AI and other new technologies create. One of the key questions about technological advances is how they will affect the planet, particularly given the urgency of challenges such as climate change and biodiversity loss. While past industrial revolutions have brought significant improvements in living standards, they have often achieved economic growth at the expense of the planet’s health. The current technological revolution must break this pattern and deliver sustainable economic growth.

Unfortunately, our achievements in the past century, which led to massive economic growth and vast improvements in human welfare, have also resulted in a planet under severe environmental duress. This has ushered in the Anthropocene era, where human

activity is the principal force shaping our environment, causing unprecedented rates of change in our natural systems, including climate change, biodiversity loss, ocean warming and acidification, deforestation, as well as water and air pollution.

In addition to economic and environmental concerns, there are also important issues of justice to consider. The largest gains from AI adoption are experienced by the countries already at the forefront of this technology. Economic and climate inequalities will be exacerbated without incentives and policy change to ensure all regions are ready to capture these benefits. Moreover, the increasing adoption of AI technology also carries the risk of job displacement, highlighting the pressing need for upskilling and reskilling to avoid leaving people behind.

To make the most of AI and other new technologies, we need to think beyond the technology itself and consider its wider implications for society and the

environment. This includes the need for strong ethical frameworks, the evolution of laws, the importance of education and training for new skills, and even labour market reforms. All these factors must come together if we are going to create a better future for everyone.

Finally, creating a better future requires a sense of shared responsibility. People from government, academia, business, civil society, and other interested stakeholders must come together to help shape this future. We need to work together not only within a single community or country but also on a global basis. Each of us has a responsibility to participate and an important role.

To succeed with this complex agenda in today’s dynamic business environment requires businesses to adopt a comprehensive and strategic approach incorporating innovation, leadership, and ethical considerations. However, innovation is a difficult pursuit for many companies, despite significant investments of time and money. Even successful innovators often struggle to sustain their performance. The problem with innovation improvement efforts is not simply a failure to execute; it is rooted in the lack of an innovation strategy.

A strategy is a commitment to a set of coherent, mutually reinforcing policies or behaviours aimed at achieving a specific future direction for the organization. Good strategies promote alignment among diverse groups within an organization, clarify objectives and priorities, and help focus efforts around them. However, firms rarely articulate

strategies to align their innovation efforts with their business strategies.

Without an innovation strategy, innovation improvement efforts can easily become a ‘grab bag of much-touted best practices’, which involve trade-offs and generally require complementary changes to the rest of the organization’s innovation system. Therefore, a company without an innovation strategy won’t be able to make trade-off decisions and choose all the elements of the innovation system.

To address these challenges, an integrated framework is needed that presents how digital, sustainability, innovation, strategy, and leadership interact together. In an attempt to provide such a framework, the below diagram aims to look at the picture holistically. This may assist the executives to develop a set of coherent, mutually reinforcing policies or behaviours aimed at achieving a specific future direction for the organization in the future. Finally, this may also help to provide a food for thought and help catalyse a solution for today’s complex and emergent challenges.

About the authors

Dr Syed Yaqzan is an Assistant Professor and Industry Consultant for Sustainability and Net Zero business growth.

Dr Imran Zawwar is an executive development strategist with an interest in Business Strategy, Innovation, and Digital Transformation.

https://londonstrategycentre.com/

The Legal and Regulatory hurdles for Overseas Companies Doing Business in the UK – Part 1

The Economic Crime (Transparency and Enforcement) Act 2022

By Gonzalo Butori, Partner, Giambrone & Partners LLP

The United Kingdom is recognised as an advantageous place to conduct global business and is among the world’s largest open economies. The other side to this is, unfortunately, that it also attracts disreputable organisations that aim to carry out dubious practices. Both the UK Government and commercial enterprises encourage and welcome the regulatory changes to strengthen the UK’s reputation as a market where genuine legitimate business can thrive.

There is a determination to attempt to close down a range of global economic and financial fraud, such as fraudulent ‘shell’ companies, money laundering and phoenix trading (or phoenixing), perpetrated by criminals registering commercial entities at Companies House to create the appearance of legitimacy.

This was initially prompted by Financial Action Task Force (FATF), also known as Groupe d’action financière formed in 1989 to develop international policies to oppose money laundering and latterly terrorism financing. The FATF identified the UK, in its ongoing reporting on anti-money laundering and counterterrorist financing measures, as a country that had an existing framework suitable for monitoring and preventing corporate entities embarking on illegal practices. It was further recognised by the Government that overseas entities operating in the United Kingdom presented an increasing hazard as long ago as 2016, regrettably the Bill introducing the Economic Crime (Transparency and Enforcement) Act was delayed and it was only when hostilities broke out in Eastern Europe that the Bill progressed into law.

One of the first measures taken to control the problematic and questionable actions practiced by some dubious overseas entities and to deter individuals and organisations that seek to launder the proceeds of their criminal activity through an entity in the United Kingdom was the enactment of the Economic Crime (Transparency and Enforcement) Act 2022.

On this Gonzalo Butori, comments, “the arrival of the new Act completely altered the nature and responsibilities of Companies House from simply recording and making information available, to a regulatory organisation with a significant role to ensure the entities entered on the register are legal, accurate and most importantly compliant with all laws governing their financial dealings across the globe”.

The Act ushers in some significant

changes in the regulatory landscape for foreign businesses. The major aspects of the new Act are:

• The creation of a register of all overseas entities aiming to own or lease land in the United Kingdom with an obligation to name who are the beneficial owners of the land and who controls the entity.

• The requirement to accurately maintain the information held on the register and inform the Registrar of any changes.

• Amendments to the Unexplained Wealth laws

• Amendments to the legislation on United Kingdom sanctions

The new registry will be created and controlled by Companies House and will be known as the Register of Overseas Entities. Verification takes the form of photo identity which must be consistent with any other identifying documents. Failure to register and be verified at the end of the requisite period is an offence which will attract a penalty, additionally, a company directed by an unverified director will also be committing a further offence and may be penalised.

Companies House will, in future, play a major role in preventing the abuse and will be fundamental to the control of white-collar financial crime. The new act significantly alters the role of Companies House from simply passively storing information on commercial entities, to that of a custodian of reliable data with enhanced powers to oblige companies to provide evidence of the delivery of documents, as well as rejecting documents if deemed to be inconsistent with previously held information. Should inconsistencies be noted it will result in the managing officers facing sanctions in the shape of financial penalties and restrictions when trying to sell or lease their land and also the removal of material from the Companies House register.

There is a facility to pre-register, this will enable Companies House to reject documents, with valid reasons. The entity then has 14 days to respond, with the opportunity to re-submit once a query has been dealt with. Failure to respond or providing an ineffective response could provoke sanctions. The Registrar is tasked with maintaining the integrity

of the Register and in some instances, should the removal of information be considered it could involve the Court.

Once an overseas entity discloses ownership of land in the United Kingdom together with a list of the beneficial owners it will then be issued with an overseas entity ID and informed of the obligation to accurately update the registry upon any changes. Only the beneficial owners owning 25% of the shares with the capacity to remove or appoint company directors and significant control of the entity, together with voting rights, need to be registered. There are slight variations to these requirements in Wales, Scotland and Northern Ireland reflecting slightly differing law relating to land but the overarching objectives remains the same.

Among the new powers granted to the Registrar in order to prevent or detect crime is the ability to analyse the existing information held, together with wider powers related to data sharing with various law enforcement and other regulatory bodies. Companies House will be able to meet the costs of the enhanced investigative actions through the fees levied by Companies House. Also, the Registrar will gain the power to inflict financial penalties on those entities that contravene the provisions of the Companies Act 2006.

The Secretary of State will hold the power to alter the thresholds currently required for registration and in limited circumstances, such as a concern involving national security or the belief that an exemption will deter or discover serious criminal activity, will also be able to exempt an individual who satisfies the current criteria for beneficial ownership without reference to Parliament.

The implementation of the new measures demonstrates a determined effort to root out the white collar criminal activities such as money laundering and adds to the existing law. The obligation to maintain the accurate up-to-date records of overseas entities is paramount, failure to maintain such information will incur sanctions.

Gonzalo has acted in a wide range of international and domestic commercial disputes. He has experience dealing with complex, high-value cross-border litigation.

He has particular proficiency with regard to dispute resolution and represents claimants and defendants in all jurisdictions on civil and commercial matters and regularly appears at mediation and arbitration hearings. He has acted as co-advocate in international commercial disputes under ICC rules as well as in other Alternative Dispute Resolution (ADR) proceedings.

Gonzalo is recognised for his pragmatic approach and solution-based strategies as well as his robust capacity when pursuing his clients’ best interests. When heavy disclosure in foreign languages is required, he develops and delivers technical solutions to ease the cost burden for clients.

He has assisted in a number of crossborder transactions involving various EU jurisdictions and achieved successful results. He also specialises in the conflict of laws and jurisdiction.

Gonzalo regularly advises international clients in connection with family and inheritance-related cross-border matters. Throughout his experience, he has dealt with high-value and complex matters both contested and non-contested which have given him valuable exposure and experience.

Gonzalo also leads the Latin America LATAM Desk in London where he assists companies and individuals with interests in the United Kingdom in a wide range of matters from commercial contract disputes to advisory work for businesses wanting to enter new markets. He also assists in the development of the Porto office in Portugal.

In addition to being admitted to practise in England & Wales as a Registered Foreign Lawyer (RFL), Gonzalo is admitted in to practice as an Abogado, a Spanishqualified lawyer in Spain, as well as Avvocato Stabilito in Italy and divides his time between the London, Barcelona and Naples offices.

About the author Gonzalo Butori is a partner with Giambrone & Partners LLP based in the London office.

Giambrone & Partners LLP is a Platinum member of the ABCC.

Extend Your Brand in the Middle East

By Zoë Buckingham, Founder and Managing Director

of

Zoë Buckingham Ltd

In this article, marketing expert and ABCC member, Zoë Buckingham offers her tips for succeeding in the GCC and Middle East.

It is my pleasure to share my knowledge of marketing in the Middle East. I hope that you will find this article useful when planning to expand your business across the region.

First, a word about my experience. I have had the privilege of working on some fascinating projects in the GCC, starting six years ago with work for government organisations, family offices and private companies. Focus on the Middle East, in particular the Gulf region, followed successful delivery of projects in Europe, North America, Asia and Australia, and this has been useful in understanding what makes the Middle East unique.

My company specialises in businessto-business marketing and our focus industries are technology, telecoms, fintech, healthcare and law. Essentially, our company is dedicated to marketing products and services that can be tricky to understand and communicate. We like to bring clarity and creativity to businesses, using attractive visuals, smooth technology and dynamic writing to engage with potential clients.

I hope that you find my suggestions useful and invite you to get in touch to discuss your own experiences.

Understanding your Market

Unsurprisingly, market research and market positioning will be a more detailed exercise than in your domestic market. Your product or services may need considerable adjustment to meet the requirements of local clients and whilst some of these changes will be customer led, some will be dictated by legislation.

Entering Middle East markets entails a combination of independent research and engaging with the right partners or local teams to give you a clear understanding of the way ahead. The ABCC will be able to give guidance, as will the Department for International Trade and the relevant UK embassy.

The company structure that you adopt at the outset will ultimately influence your commercial approach. If you work through in-country partners, you may need to use partner-led marketing strategies. Your

representatives will require clear and highquality collateral which thoroughly explains your offering as you may not be present in every meeting and discussion. Visits to your partners and regular online meetings will be essential in bringing you together as a team and there is no doubt that time spent incountry will be the quickest way to get up to speed. Recruiting or transferring staff to local offices will ensure that you can work more closely with both partners and customers.

Part of your market research will involve understanding pricing models in your chosen territories and developing a strategy that works for your business. Your local advisors will play a critical role in helping you to establish a pricing model that will not only win business but ensure that your local operation is sustainable in the long term. Pricing should consider the time needed to establish credibility and trust. Sales cycles may be longer than in the UK and this should be reflected in sales forecasts. >>>

Zoë Buckingham

Preparing your Brand

Fine tuning your brand for Middle Eastern markets will be an exciting part of your new strategy but you may find that you need to take a step sideways before moving forward.

It will be essential to your success to find an agency who can work with the necessary languages and is sensitive to cultural nuances. Depending on your target countries, the right-to-left reading aspect of Arabic may mean that your existing website, social media feeds and even business cards may not adapt well. Likewise, some fonts have Arabic equivalents, and some do not. Multilingual designers will help to create an aligned strategy that will enhance your brand. For your digital properties, work with skilled technologists to ensure that your website and other platforms can support different languages and character sets.

Likewise, you should consult cultural experts on colours and imagery to ensure that they will be successful in your target countries. Pay close attention to dress codes when showing images of locals and always ensure that you have written permission for images of anyone that you feature.

You will find it easier to work on Middle Eastern marketing campaigns with local staff to support you but make sure that your brand values are fully understood and communicated to your supporting teams.

It’s the Way You Say It

Whilst in many major companies and at many business events, English is spoken, providing Arabic versions of your literature will be welcomed by your potential customers.

It’s easy to underestimate the significance of appointing the right translator for a project. On some projects, Zoë Buckingham Ltd worked with different translators to successfully bring together energetic ‘advertising’ style straplines with technical content. A great example of this was work that we produced for a telecommunications company. We had to recruit a translator with a Master’s in Electronic Engineering to translate the more technical content and a more creative translator to write the headings and to ensure a consistent tone of voice.

Translations don’t read well when terms that are critical to your business are translated differently in different pieces of marketing collateral. Before commissioning any translation, you should produce a list of key industry terms, company terms and job titles and ask the translator to work on these first. These translated words and phrases, which could also include items such as your company mission statement, should be placed in a glossary document where they can be referred to when working on the next project.

Your Website

Your website really should be the crown jewel of your brand presence. How it looks and works at present will dictate how much needs to be done to turn it into a

compelling platform for marketing your business in the Middle East.

If you are going to include Arabic on your website, you should consider how the copy will be laid out. The language is read from right to left so the website needs to support this. Adding French to your site will increase the text length compared to English.

The Middle East is known for its glamour and there is an enthusiasm for beautifully designed digital platforms and strong communications. From a design perspective, a smart corporate website that includes some localised content will never offend. However, you will achieve more if your web properties reflect an understanding of the culture of your chosen country. There are ways of customising elements of your brand without alienating clients in other parts of the world. Careful research around both content and visuals, executed with creativity, will tell an interesting story that your audience will find engaging.

Earlier I mentioned ‘taking a step sideways before going forward’. This applies to content as well as technology. Consider the existing content on your site to ensure that it presents the right image to your Middle Eastern customers, in addition to creating new articles and webpages.

From an operational perspective, having a website with a good Content Management System will enable your local teams to act as authors of their own blogs and webpages, keeping content up to date and making it relevant for their audiences.

Social Media

Just as the divide between business and personal life tends to be more fluid in the Middle East, so too is the way that social media is used.

A report by FIPP cites that internet users in the MEA have an average of 8.4 social media accounts, with 10.5 per person in the UAE. 70% of Egypt’s internet users watch YouTube daily while WhatsApp and Facebook, channels employed less frequently in European business, are used extensively across the Arab world. Instagram is extremely popular for its visual appeal and LinkedIn is used by major public and private sector organisations, much as it is in the UK and across Europe.

On reflection, the Middle East is a social part of the world where people understand the importance of communication, so it’s not really surprising that social media, which is essentially a digital version of the coffee house, would have such influence.

A note of caution around social media as the laws around its use vary from country to country and can be stricter than in Europe. For example, in the United Arab Emirates, it is illegal to post an image of someone without their consent, to discuss confidential information concerning a third party or to engage in defamation or slander.

I mentioned visual appeal earlier. This is critical for all your marketing in the Middle East. Instagram is clearly built around visual appeal, but don’t underestimate the influence of well-presented posts and images on every platform.

Likewise, who doesn’t want to be spoken to in their mother tongue? It’s important to plan for the use of local languages in social media posts, especially for consumer brands. The choice of languages will need research and you should discuss tone of voice with your local marketing teams to ensure that your brand is well represented.

Conferences and Exhibitions

Live events are popular in the Middle East as they provide the opportunity for highly valued face-to-face meetings.

Whether you have members of your team speaking at a conference or you are exhibiting at an exhibition, you should aim for visual appeal.

If you are speaking at an event. try to include video and refer to your video during your presentation. Remember to thank the organisers and hosts of the conference.

Exhibition booths should be attractive and high tech and put forward your offering clearly, ideally through images. Find out what publications are issued during the event and which social media channels are used. Is there a dedicated mobile app for the event?

Hospitality is important at Middle Eastern events. You should consider comfortable seats on your booth and access to private meeting areas to continue discussions. Try to include a hospitality section in your booth with plenty of drinks and snacks and present small gifts to those who spend time with you.

Every country in the Middle East is different and you should spend time researching the local culture and making sure that your team is familiar with local customs and dress codes. Literature should be memorable and reflect the booth design so that it’s easy for visitors to

connect you with your literature.

Following up after exhibitions and conferences is important and should be done in person wherever possible. It is best to extend your stay after an event to meet with people who showed an interest in doing business with your company.

Meetings

You have met some amazing people and now you have been invited to some meetings for a more in-depth conversation. Ideally, these will be face-to-face and involve your local representative to ensure a continued flow of communication both before and after your meeting.

When meeting with new business contacts, take advice from your local representatives and follow etiquette and customs.

It is best to arrange meetings just a few days before, demonstrating respect for your host’s other responsibilities. Meetings can be freer flowing than in the West, with more people involved and visitors arriving to discuss other matters. It’s best not to timebox meetings the way you might in the West and to respect the process of decision-making which can take longer. Likewise, it’s best to allow time either side of your meeting in case the appointment changes. It will also prove easier to arrange meetings at certain times of the year; Ramadan and other religious and national festivals should be avoided.

Do remember to bring gifts. Delicious food works well, particularly from the UK, such as tea, chocolates or sweets. You could also offer a useful gadget, of high quality and branded with your company’s logo.

Explain your company’s products and services clearly and in brief and bring samples of your products.

Ready to Launch?

I hope that the tips included in this article are useful. The key take-away is that detail really is important in developing a strong brand in the Middle East. Your brand should feel local and look amazing. It should engage with your target audience and project a strong message. As you start to engage with local clients, embracing the culture and showing respect will help you to thrive.

Building your presence in the Middle East will take time, but it will also help your brand to evolve into a more creative, people-centric, inviting proposition for all your clients, bringing benefits to your global business in the long term.

About the author

Zoë Buckingham is an experienced marketing consultant with a strong track record of supporting international business expansion and helping to secure investment. Her specialist areas are finance, fintech, professional services, technology, law and healthcare. Zoë has outstanding people skills and is accustomed to navigating different cultures. She has worked with organisations across Europe, North America and the Middle East.

Zoë is well networked both in the UK and internationally. She is a Freeman of the City of London, on the Court of the Worshipful Company of World Traders, a regular presenter of webinars for the Financial Services Club and for a majlis in Bahrain. She is frequent participant in ABCC events.

www.zoebuckingham.com

When the Chips are Down

A Postcard from 50 International

In 1589 Sir Walter Raleigh planted potato seeds in Cork before gifting the potato to Queen Elizabeth I as a curiosity; vegetables were considered food for the poor. However, between 1700 and 1900, this ‘poor food’ enabled 25% of the population growth, urbanisation and, thus industrialisation, of the Old World. With its ease of cultivation (on even marginal land), storage and transportation this highcalorific food rich in Vitamin B6 and Vitamin C was transformative. Today the potato is the world’s fourth-largest food source.

Evolving from a basic staple to a cheap convenience food the potato was cut or “chipped” into lengths and fried. In 1920s London, crisps came in bags with a blue paper twisted ‘pinch of salt’ for taste. Crisps likely originated in America colloquially as chips.

Today’s chips are semiconductors of silicon or germanium and equally transformative. Chips are in virtually everything; an average car now contains 4,000 plus! Chips are cardinal for today’s global civilisation to function. Crucially, they enable the analytics and innovation needed to address the climate, food, water and demographic problems we face. In 2022, some 1.15 trillion semiconductors were shipped. By 2027 annual semiconductor value is projected at $726.73 billion.

Whilst the potato developed genetically, it remains growable almost everywhere. However, chips have become ever more complex and increasingly challenging in their production requiring microengineering with zero vibration and complete air purity. In 2022, Taiwan made 65% of the world’s semiconductors (China produced >5% and the U.S. broadly 10%) and almost 90% of the advanced chips.

The advanced chip is key, with the 3 nanometer (nm) chip now being produced, (human hair is 80,000+ nm wide and an atom of gold some third of a nano). Russia has limited production at the slow 90 nm.

TSMC in Taiwan and Samsung in Korea are world leaders in chips, but due to China’s sabre rattling, geographic diversification has become crucial. Interestingly, in 2022 TSMC made one of the largest ever investments into America with $40bn on an Arizona site to be its most advanced chip manufacturing plant. TSMC now researches 2 nm!

China has fallen badly behind in nano bandwidth and ability (in 2022 Russia reported a 40% failure rate in Chinese chips). Considerable internal problems and distractions with sovereignty claims on Taiwan is a mutually assured destruction game as war will destroy chip manufacture.

Where once the world gambled on potato dependency (the Potato Famine showed the risk) we now gamble on semiconductor chip dependency.

On gaming tables, bets are irretrievable when chips are placed. Thus in difficult situations, true friends stand by us ‘when the chips are down’; we will need them as Chip manufacture diversification is cardinal! No pinches of salt will make the threat more palatable, and we must guard this resource jealously. Our dependency on chipdriven technology is not unlike that on the potato. Without it, we too will starve.

Thoughts by Alistdair Wilson-Gough

Alistdair is a founder partner of 50 International. His professional career spans decades in the provision of tax planning and structuring for clients both in the UK and abroad. He and his colleagues in 50 International are located on the third floor at 43 Upper Grosvenor Street, Mayfair, London W1K 2NJ.

https://www.50international.com/ copy-of-about-us

Bahrain and UK Agree Landmark Agreements on Digital Economy and Investment

Britain’s Prime Minister, Rt Hon Rishi Sunak MP, has hosted HRH Crown Prince Salman Bin Hamad

Al Khalifa, Prime Minister of Bahrain, for bilateral talks in London.

Following their talks held on 3 July 2023, the two leaders welcomed the signing of a new Strategic Investment and Collaboration Partnership between their two countries. The agreement aims to facilitate additional investment of more than £1 billion into the UK, support the diversification of Bahrain’s economy and drive greater cooperation between our countries in clean technology, business services and manufacturing.

Mr Sunak described the new agreement as marking a new chapter in the historic and close relationship between the UK and Bahrain, which spans security, defence and trade.

The meeting between the UK Prime Minister and the Crown Prince of Bahrain paved the way for a future characterised by prosperity and cooperation.

With the signing of the Strategic Investment and Collaboration Partnership, both nations have taken a significant step towards strengthening economic ties and attracting substantial investment.

The agreement, signed at 10 Downing Street, not only aims to support Bahrain’s economy and its diversification but also fosters collaboration in key sectors.

By facilitating a substantial investment of over £1 billion into the UK, the partnership intends to support the diversification of Bahrain’s economy while promoting collaboration in these vital sectors such as clean technology,

business services, and manufacturing.

The agreement is designed to attract billions into the UK economy through Bahraini private-sector investment with Bahrain’s sovereign wealth fund Mumtalakat, Investcorp, GFH Financial Group and Osool Asset Management among other corporates expected to participate in the new initiative.

Coinciding with the talks, Mumtalakat announced that it had entered into talks with Investcorp towards establishing a joint venture that would be dedicated to investment and management of UK student housing assets.

During their meeting, the two leaders expressed a shared commitment to addressing global challenges and safeguarding international stability.

As the UK and Bahrain forge ahead, observers see this historic agreement as setting the stage for a brighter future of mutual growth and shared priorities.

The new UK-Bahraini agreement anticipates the signing later this year of a free trade agreement between the UK and the Gulf Co-operation Council countries, which could lay the basis for further mutually beneficial investment deals, news commentators report.

Ties between the UK and Bahrain have been further strengthened with the signing of a digital economic partnership which was agreed the day after the Strategic Investment and Collaboration Partnership.

This new digital partnership will help ensure bilateral trade continues to be modernised and streamlined in sectors like fintech, cyber and space. The partnership was sealed in a Memorandum of Understanding, signed by UK Business Secretary, Rt Hon Kemi Badenoch MP and Bahrain’s Minister of Finance and National Economy, Shaikh Salman bin Khalifa Al Khalifa.

In response, the UK Minister for Investment, Lord Dominic Johnson, commented: “Today’s agreement is the culmination of a flourishing relationship between the UK and Bahrain, strengthened by our many existing partnerships and synergies across logistics, technology, manufacturing, and more.

“With the next round of talks expected shortly a trade deal with the GCC will bring even greater trade and investment opportunities between our countries, helping to grow our economies and create high-skilled jobs in the sectors of the future,” the Minister stated.

Official statistics show that trade between the UK and Bahrain has nearly doubled year-on-year to a record high of £3.1 billion in 2022, an increase of 93.5 percent or £1.5 billion in current prices from the previous year. Bahrain was the UK’s 60th largest trading partner in 2022, accounting for 0.2 percent of total UK trade.

Sources: PM’s Office; Department for Business & Trade, news reports

We interview Lorraine Amrani, author of In the Frame, her new first novel

What was your initial inspiration for wanting to write this novel?

L A: The idea of the story had been sitting lodged in the recess of my mind for about five years, and it simply refused to go away. There was hardly a day that went past when I didn’t think about it. I would wake up and there it was, nagging away at me until finally I dived in and let fate take me where it wanted me to go.

This is your first novel. Have you always enjoyed writing?

L A: Writing in any form was not something I had ever contemplated in my wildest imagination; it was that far off grid for me. Painting and history were my main interests, so, to say it took me by surprise is an inadequate understatement.

The English novelist Graham Greene famously insisted that he wrote an average of 500 words every morning five days a week. Greene would stop once he reached his daily word quota. Could you explain your own writing methods with this novel? Did you map out the plot chapter by chapter or was the writing more spontaneous?

L A: I never set out to write a set number of words a day, I am not that disciplined, but I did manage to write nearly every day.

How long did the book take you to complete?

L A: Overall the book took about two years to write, although the thinking process took a number of years to piece all the parts together.

Did the main story for In the Frame come to you quickly? Which scenes were easiest to write?

L A: Thinking and planning the story line was very entertaining in itself. I would play each scene out in my head, bringing the characters onto the set as and when required, much like making a movie I would imagine, and then let rehearsals begin. You were the writer, director, producer, set designer, and, you had to make your own coffee and supply your own doughnuts! One chapter I particularly enjoyed writing

was when Francine ‘watched’ Leonardo paint the portrait of Jesus, that scene really did make my hair stand on end, it was so vivid in my mind at the time.

Some very colourful, even sinister, characters feature in the novel. How did these characters come to you and how did you visualise them?

L A: About the characters, I had a rough idea of each character I wanted to portray, I could easily visualise them, but I simply let each one morph into their unique personalities as it went along. It was if they literally came into being by themselves, so I suppose being spontaneous and not too prescriptive, allowed each person to reveal who they were... or weren’t! I found each character had its own merit, however, when a person is borderline evil, then there is so much more scope, and it can be quite hard to rein him or her in, their wickedness simply knows no bounds. They are not constrained by having a conscience.

Some of the characters are based on real historical figures, others are entirely invented. Which ones were the most satisfying for you to write and which were the most difficult?

L A: The facts about the actual historical figures within the books reflect the events at that time. The nature of these very flawed, and infamous, human beings are true, however, all the scenes within the chapters are entirely imagined, for example, the scene at the Hotel Ritz between to massive real life egos, one being Coco Chanel, and the other the Nazi Hermann Goring, is something I conjured up, like the proverbial fly on the wall, I just watched these two monsters play out their narcissistic games with each other. Of course, when you are the second most powerful man in Europe, then there is only going to be one winner. I thought Coco Chanel would have been much more astute than she turned out to be!

The novel combines your interests in the visual arts, art history, the contemporary art market, as well as history. What is more important to you, art, fiction or history?

L A: That is a difficult question to answer. I have been in love with history as long as I can remember. But I am truly fascinated by the art market. It is hard, if not impossible, to fully comprehend just how layered and opaque this world is, I imagine its tentacles go very wide and very deep.

Describe how it felt to finally finish the novel and then to see it in print?

L A: Working on this project for such a long time was all-consuming. When I began, I had no idea whether or not I would make it to the end, so it was a huge relief to finally put a full stop at the end of the last chapter. Seeing it in print is a dream come true.

What are you now writing about? Will it also be set in the art world, or will it something completely different?

L A: I am now half-way through my second book. The story revolves around two surgeons in the late 19th century and takes place in London, Vienna and Venice –much more than that I cannot say!

FCDO Legalisation Service Business Drop-Off Service Premium Service

The ABCC has secured an exclusive daily appointment at the offices of the Foreign, Commonwealth & Development Office for the legalising of urgent commercial and personal documents.

An Apostille will be applied to your document, which is a certificate issued by the FCDO in the UK and authenticate your commercial or personal document for use in another country.

The Chamber provides either a standard service (taking 2-3 working days) via the Milton Keynes FCDO Office, or we can provide a same day premium service for the more urgent time sensitive requirements.

Upon completion by the FCDO, we can further process your documents by way of ABCC Certification and Embassy Legalisation.

Should you require further details, or wish to make use of this service, please contact Randa El-Daouk at randa@abcc.org.uk or on 020 7659 4891.

www.abcc.org.uk

New ABCC Member Companies

(Joining 2023)

AH&Z Associates Ltd

Al Khaleej Travel Ltd

Arab Entrepreneurs Board

Baker Tilly Isle of Man

BCS VISAS LTD

Bristokit Technology Ltd

CBH Education

Credit Financier Invest Limited

Cruxton Travel

FaithHope Mid East Consultant DMCC

French Connection UK Limited

GGS Global Geo Services (UK) Ltd

Halal Food Direct ltd

Hield Brothers Limited

Infocus Opticians

Kinerva Ltd

LCR Freeport

Leizur

LG H&H UK

London Strategy Centre

Matrixport Advisors Ltd

Middle East Airlines - Air Liban

MKSN Limited

MNE

Moorfields Private Eye Hospital

Newgate Labs

One1Star Solutions

Oxford Frontier Capital Limited

Pangea Worldwide Positive

Silkroot Trading Company Limited

StoneX Financial Ltd

Taki Tax and Finance Ltd

The Idea Road Limited

TTT Moneycorp Ltd

Waltons Publications Ltd

Worldwide Corporate Advisors LLP

ABCC Translation Services

For all your translations from English to Arabic or Arabic to English.

With over 40 years’ experience in technical translation, the Arab-British Chamber of Commerce specialises in Arabic/English and English/Arabic translation and has excellent facilities and top quality translators.

Our translators are officially qualified and trained to handle customer requirements accurately and professionally in both languages. Our experience lies in first class commercial, financial, legal and technical translation of the highest standard.

The Chamber’s translation service is officially recognised by all the Arab embassies in London and by the Foreign, Commonwealth & Development Office (FCDO).

However, we strongly advise clients that the FCDO should authenticate all official documentation translated from Arabic to English if it is to be used in the UK. Translation of official documents from English to Arabic, for use in the Arab world, must be authenticated by both the FCO and the Arab embassy of the country where the document is to be used.

The ABCC translation service covers all types of documents, including:

Birth/marriage/baptism/divorce/death certificates

Certificates of academic qualification

Certificates of Origin

Commercial invoices

Company/personal financial documents

Divorce documents from the Shar’i Mazun or from a court of law

Memorandum & Articles of Association

Passport details.

Al Akeel & Partners

Inspired by the need to offer comprehensive legal solutions in the Middle East, Al Akeel & Partners was established by Dr Meshal Al Akeel in 2007. With foundational values of ethics, service, and trust, our firm has been operational in the Kingdom of Saudi Arabia for the past 15 years and has worked with numerous local, regional, and international clients with integrity and dedication.

We possess a deep understanding of Saudi Arabia and the Middle East region, offering clients access to trusted advisors who guide across opaque processes utilising an extensive government and business community network, as well as technical, commercial, and cultural capabilities acquired over years of onthe-ground experience.

Our teams comprise some of the most experienced and talented legal consultants in the region, proficient in navigating the fluid regulatory landscape in Saudi Arabia through leading corporate/commercial expertise and outstanding litigation knowledge. With a full-service office in Riyadh, we tailor to your interests and work with you to surpass your legal service expectations through strategic advice and an intrinsic understanding of both business and legal matters.

We offer day-to-day corporate/ commercial legal advice, along with services on more complex transactions, wherein we leverage the skills of our experts (many of whom are fluent in English, Arabic, and French) in order to integrate international best practices within a local law context. Our practices range from Dispute Resolution, Litigation & Arbitration, Banking & Finance, Real Estate, Foreign Investment Licensing, Bankruptcy & Insolvency, Technology,

Media & Telecom, Family Governance & Restructurings, Franchising & Agencies, Employment, Intellectual Property, Joint Ventures, and Mergers & Acquisitions.

Vision

To effectively guide clients through legal processes and assist in the implementation of their commercial goals. We seek to offer comprehensive solutions covering all aspects of corporate/commercial transactions and complex litigation cases.

Mission

To encourage fair, transparent, and ethical legal practices in the Middle East and help clients overcome legal challenges with innovative and ethics-inspired solutions. Our mission is to create a compassionate environment where justice prevails and legal processes are empowering and seamless.

Clients

Our diverse international, regional, and national client base range from leading companies, high-net-worth individuals, and government agencies to exchangelisted conglomerates and family groups, operating across a wide spectrum of industries in Saudi Arabia and globally. Leading Corporate Expertise

The firm’s multi-lingual corporate team provides legal advice and services on a wide spectrum of transactions in the corporate/commercial fields, including those involving the Capital Market Authority, joint ventures, M&A, rights issues, private placements, bankruptcy, franchising, agencies/distributions, intellectual property, construction, real estate investment, employment, multiple types of regulatory work, to name a select few. We also handle the licensing and qualification of foreign and GCC companies wishing to participate in and/or conduct business independently or through joint venture partnerships in the Kingdom of Saudi Arabia.

Outstanding Litigation Knowledge

Our team of expert litigators possess the knowledge and skill-set required to handle difficult and complex litigation and arbitration cases. We successfully raised claims for our clients at various venues including the Committee for the Settlement of Banking Disputes, Shari’a courts, the Saudi Board of Grievances, the Saudi Arabian Commercial Court, Labour Courts, Execution Courts, the Saudi Arabian Capital Market Authority, and the Insurance Committee.

alakeellaw.com.sa

AlSahl Group

Unlocking the Potential of Trade in Libya: Opportunities & Future Prospects

Trade in Libya is a crucial component of the country’s economy, with the country heavily reliant on imports for vital goods such as food, machinery, and consumer products. Given its advantageous positioning, abundant natural resources, and a young population, Libya is an attractive destination for foreign businesses and investors looking to invest into the North African market.

In this article, we will offer an overview of Libya’s economy, delve into the country’s principal trading partners, and explore the opportunities available to businesses seeking to establish a presence in Libya.

Overview of Libya’s Economy

Libya’s economy is heavily dependent on the oil and gas sector, which accounts for approximately 60% of the country’s GDP and 73% of its exports. Libya has the largest proven oil reserves in Africa and is a member of the Organization of the Petroleum Exporting Countries (OPEC).

Apart from the oil and gas sector, the country’s economy also relies on the agriculture and construction sectors, which provides job opportunities and employment for the majority of the workforce.

Despite the political challenges, the Libyan government and the private sector have put in the effort and investment to improve the country’s economic situation. This can be noticed through the thriving of industrial complexes, introducing economic reforms and attempting to attract foreign investment.

To mitigate the impact of fluctuating oil prices and improve the country’s economic prospects, the Libyan government has been working towards diversifying its export portfolio beyond oil and gas. This includes developing new industries and strengthening trade relationships with other countries.

Major trading partners

Italy, Spain and China are among Libya’s major trading partners, with significant volumes of trade in sectors such as machinery, food, and textiles. Libya also has trade relationships with other African countries, such as South Africa and Egypt. The Libyan government has actively sought to expand its trade relationships beyond its current partners. These efforts have been supported by the country’s strategic location, which allows for easy access to major shipping routes and transport links.

AlSahl Group Holding

AlSahl Group Holding is actively contributing to trade in Libya by investing in various sectors and partnering with international companies to bring new technologies and expertise to the country.

By investing in businesses that generate jobs and contribute to economic growth, AlSahl is supporting trade in Libya and helping to diversify the country’s economy beyond its traditional dependence on oil and gas.

With a focus on sustainability and innovation, AlSahl is helping to develop new industries such as agribusiness, consumer goods and build partnerships with other countries to expand trade opportunities for Libya.

Partnering with International Companies

AlSahl Group Holding established solid partnerships with international brands and companies and acts as the exclusive agents of:

• Coca-Cola in Libya

• Seara frozen chicken belonging to JBS international group

The group is also the official distributor of Haval in Libya and one of the largest distributors in the field of medicines.

Growth Opportunities for Trade in Libya

Libya’s wealth of natural resources, which include oil and gas, coupled with its young and expanding population, make it a promising destination for foreign businesses and investors seeking to penetrate the North African market.

By fostering new industries and cultivating stronger trade ties with other nations, Libya is positioning itself as a favourable business environment. Furthermore, the country’s advantageous location and rising domestic demand create opportunities for companies eager to establish a presence in the area.

Private companies such as AlSahl regularly organize and participate in international trade fairs which also offer opportunities for growth in trade.

Conclusion

In conclusion, Libya’s potential for economic growth remains undeniable. The government and private sector have made commendable efforts to diversify the country’s economy beyond its reliance on the oil and gas sector.

The government has also attempted to forge new trade relationships and strengthen existing ones with other countries. AlSahl Group Holding’s investment in various sectors and partnerships with international companies have further contributed to Libya’s economic growth and diversification.

As Libya continues to improve its business environment and expand its trade ties, the potential for growth in the Libyan trade sector is significant, making it a promising destination for those seeking to invest in the region.

https://alsahlgroup.com/trade-in-libyagrowth-opportunities/

Arishi

Whether you’re creating a technology strategy for your organisation, working on a tech start up – or seeking to turn an exciting creative idea into an immersive digital experience, we can support you with a robust and adaptable solution.

Expert Development

Arishi has been at the forefront of digital since its inception. We continually research new ways to deliver amazing experiences for the creative and business communities, founded on the principles of quality, performance and security.

Our experience of working with the creative sector means that our custom software does not just run smoothly but is visually striking and a joy to use.

Creativity – Tech

We help agencies take amazing ideas and turn them into technology that works perfectly in demanding environments such as stores, exhibitions and outdoors.

As the first company in the UK to deliver astonishing augmented reality campaigns in 2010, we’re still supporting agency clients with incredible interactive experiences.

Our clients in non creative sectors enjoy the inspiration we gain from the creative sector, delivering software that’s enjoyable to use, simple, high performing – and just a little bit different.#

Technical Expertise

Are you working on a creative idea where the technology needs some heavy lifting? Are you interested in delivering an AR or VR solution that’s not only stunning visually but can be edited to continually update the content?

Unsure how to use technology to enhance your business? Concerned about making the right long term decisions? Tell us your commercial objectives and we’ll help you navigate the decision making

process to the best technical solution.

Do you have a business that uses a variety of different systems? Are you concerned about the robustness of the technology and its ability to scale?

Is there a system that’s vital to your operation that doesn’t do everything you need? Does it look and feel out of date?

Our Partner

Including advertising, marketing, media, ecommerce and finance. Whatever the brief and whoever the client, we specialise in technically robust, creative and cost-effective solutions delivered on time and within budget.

Our Team

Arishi is led by a strong team with backgrounds in technology, enterprise and finance headed by Andrew Elia, Managing Director, Pierre Suhrcke, Chairman and Bhupesh Belchandan, Head of Development.

https://www.arishi.agency/about-us

At Arishi, we’re collaborative, consultative and will help you identify the right solution to your technology needs. We’ve worked with many organisations, agencies and start ups, always keen to find the right, most technically straightforward and robust way to support your operation.

Deep Knowledge Group

Deep Knowledge Group is a data-driven consortium of commercial and nonprofit organizations active on many fronts in the realm of DeepTech and Frontier Technologies (AI, Longevity, BioTech, Pharma, FinTech, GovTech, SpaceTech, FemTech, Data Science, InvestTech), ranging from scientific research to investment, entrepreneurship, analytics, consulting, media, philanthropy and more.

As a mathematical corporation focused on building the bridge to the 5th Industrial Revolution, Deep Knowledge Group is decisively committed to DeepTech for Social Good, Techno-Philanthropy and DeepTech and Longevity Industry Financial Commoditization (establishing the core investment and financial industry infrastructure needed for the emergence of DeepTech and Longevity as fundamentally new asset classes).

Deep Knowledge Group has been committed since 2014 to the corporate thesis of DeepTech for social impact, techno-ethical business for social good, and the continual reinvestment of profits into the expansion of our core Data Science, AI and analytics assets and the refinement of our financialecosystemic development projects (which we see as the major tool driving our Group’s further growth as a Data Science driven financial corporation with focus on Longevity and DeepTech). Our unique approach lies in combining ecosystemic financial innovations with sophisticated AI and Data Science technology development for DeepTech and Longevity Industry analysis, benchmarking and forecasting.

We remain committed as always to developing and deploying reliably sophisticated and multidimensional Big

Data analytics and AI driven technological forecasting and benchmarking of DeepTech, Longevity and related industries, pioneering the fundamental tools required for strategic decision making in these unprecedentedly complex and innovation-driven sectors, laying the foundation and basis for defining, thinking about and understanding the coming DeepTech Revolution.

However, more than this, the Group remains just as decisively committed to the practical execution of many of these forecasted developments by establishing the core investment and financial industry infrastructure (platforms, indices, exchanges, financial instruments and derivatives) needed for accelerated and de-risked DeepTech and Longevity Industrialization, and their emergence as fundamentally new asset classes.

Deep Knowledge Ventures

Deep Knowledge Ventures is a datadriven investment fund focused on the synergetic convergence of DeepTech, frontier technologies at the nexus of technological megatrends, renowned for its use of sophisticated analytical systems for investment target identification and due-diligence. Major investment sectors include AI, Precision Medicine, Longevity,

Blockchain and InvestTech. While it’s major short-term interests are AI and DeepTech, it’s long term vision is focused on Longevity and Precision Health.

Longevity Capital Fund

Longevity Capital is Deep Knowledge Group’s Investment Platform. We offer direct investment opportunities, tradable certificates and investment funds focused on the Longevity Industry.

Longevity.Capital offers investment opportunities specifically focused on the Longevity Industry, backed by seasoned professionals who have been active in both the Capital Markets and Longevity industries for 25+ years, long before the sector emerged as a new asset class for experienced and qualified investors. Our certificate and fund range structures its portfolios based on sophisticated industry intelligence and comparative analytics provided by the world-leading Longevity Analytics entity Aging Analytics Agency, which uses hundreds of quantitative and fact-based parameters to identify prospective investment targets for the fund, utilizing multidimensional analytical frameworks as complex as the industry itself.

https://www.dkv.global/

Giambrone & Partners LLP

Giambrone is an award-winning full-service law firm operating through a network of offices in Barcelona, Glasgow, Gran Canaria, London, Madrid, Milan, Munich, Naples, Palermo, Porto, Rome, Tunis with plans to expand further over the coming years. Main practise area: Real Estate, Tax, Corporate Acquisitions, Corporate & Commercial, Private Client, Litigation & ADR, Banking & Finance, EU Law, Family Law, Employment Law, Sports and Fashion, Criminal Law, Personal Injury, International Law, Italian Law, Spanish Law, Tunisian Law.

The firm was founded in 2005 by Gabriele Giambrone with the opening of two offices, one in Palermo, Sicily and one in Greater London Gabriele’s vision, from the onset, was to provide both private clients and commercial clients with exceptional client-focused legal advice across a range of jurisdictions with a focus on cross-border contentious and noncontentious matters, delivered in their own language.

Within 18 months, following a resolute determination to build the firm’s capacity, saw the London headquarters expand and relocate to offices directly opposite the Royal Courts of Justice. Similarly, new offices were opened in Rome and Milan in Italy, swiftly followed by offices in Turin and Munich. Over the next five years Giambrone gained, not only additional offices in Italy but also opened offices in Spain and Tunisia.

Our expansion programme is ongoing and the present day sees the firm with six offices in Italy, three offices in Spain, three offices in the United Kingdom, an office in Tunisia, an office in France, an office in Sao Paolo and an office

in Portugal. Our lawyers speak an extensive variety of languages, enabling them to advise our clients in their own language providing clarity and avoiding misunderstandings.

Giambrone & Partners continues to focus on building teams with the expertise to address our clients’ worldwide requirements, enabling our astute, well-regarded cross-border lawyers to provide our clients with exceptional legal advice and bring a commercial advantage to achieve their objectives. The commercial insight and progressive thinking the lawyers at Giambrone & Partners bring when assisting our clients to maximise their opportunities and defeat their challenges is second to none. We always strive to exceed the expectations of our clients

Giambrone & Partners addresses the unique factors that impact on crossborder matters and to further assist our clients in navigating the internacional legal landscape, our lawyers are encouraged to acquire legal capacity in additional jurisdictions as well as the ability to appear before higher courts, as part of a continuous programme of

investment to enhance our legal expertise by expanding the firm’s jurisdictional capacity to address our clients’ highstakes and often complex legal issues.

We can, when required, draw together cross-jurisdictional teams of lawyers from our European offices in Italy, Spain, Portugal, France and nonEuropean offices in Tunisia and the United Kingdom, enabling the lawyers to orchestrate and coordinate complex cross-border proceedings in multiple jurisdictions. All of which assists the firm’s commitment to excellence by delivering, perceptive legal expertise our clients in their own language and removing the potential for the misunderstandings that can arise when separate law firms in different countries are instructed.

Our clients value the firm’s extensive legal capacity and international scope, together with our local cultural knowledge and insight, all found under one roof. We are immensely proud of Giambrone & Partners’ progress and aim to continue to maintain the firm’s initial vision in the future.

https://www.giambronelaw.com

The Liverpool City Region Freeport

Liverpool City Region (LCR) Freeport is one of only eight freeports in England. After working in partnership with ports, businesses, local authorities, trade unions and wider stakeholders, its Full Business Case (FBC) was approved by the UK Government in December 2022.

Designated areas within the freeport zone will benefit from incentives to encourage economic activity. Freeports operate with both ‘tax’ and ‘customs’ sites. Tax sites offer occupiers business rates relief and other incentives to support capital investment, skills and employment. Business rates generated at the tax sites will be retained locally for 25 years and reinvested in the area. Customs sites help enable the tariff-free movement of goods for both export and import through simplified customs procedures.

The Liverpool City Region, home to the country’s leading transatlantic port, is a natural freeport location. With the UK’s biggest western facing port, handling 45% of the UK’s trade from the United States, the Freeport area takes in a 45km diameter from the western point of Wirral Waters to the eastern point of Port Salford and includes all six of the city region’s local authorities.

The LCR Freeport is a multi-gateway, multi-modal zone covering 300 hectares of land and the freeport sites, which include several existing rail terminals and water-accessible locations, are located within areas of logistics and manufacturing capability.

The freeport has been shaped to support the delivery of the Liverpool City Region’s vision outlined in its Plan for Prosperity and Economic Recovery Plan.

Its overarching aim will be to ensure that the freeport contributes to the city region’s ambitions to create a fairer, stronger, cleaner city region, where noone is left behind.

Tax sites

Tax sites provide a range of benefits and are designed to attract new business operations and generate additional, added value investment. LCR Freeport’s designated tax sites are:

Parkside, St Helens: the largest strategic employment site in the City Region, it is located in St Helens close to the M6 and M62. The site includes the former Parkside Colliery and hopes to attract advanced manufacturing and logistics businesses.

3MG, Widnes: offers direct connections to the UK motorway network and rail access from the West Coast Main Line. 3MG is already involved in the hydrogen economy supporting capital investment in low carbon fuels and infrastructure.

Wirral Waters: located around the Birkenhead Docks, it has port connectivity, direct access to the M53 motorway and is located within the Mersey Waters Enterprise Zone. It comprises significant areas of dockside land capable of attracting a range of port-centric businesses, advanced manufacturing, innovation and research and development activities.

Eligible businesses in freeport tax sites will enjoy a range of tax incentives:

• Stamp Duty Land Tax relief

• Enhanced capital allowances for investment in plant and machinery and structures and buildings

• Business rates relief

• Employer National Insurance contributions relief

Customs Site Operators

There are a range of proposed customs zones to be located within the LCR Freeport, across a number of industries that may benefit, from advanced and biomanufacturing, to logistics and ports. These sites will undergo an approval process with Government/HMRC as part of the development of the outline business case.

Access to duty suspension, duty exemption on re-exports and flexibility on how duty is calculated through duty inversion.

Allows storage and processing activities in a freeport customs site under one combined Freeport customs special procedure, instead of multiple authorisations.

Streamlining the processes for bringing goods into freeport customs sites, as well as between customs sites, and reexport.

Allowing the movement of goods by conduct between other UK customs sites and into other special procedures to fit the needs of business.

In December 2022, HMRC approved SSO International Freight Forwarding as the freeport’s first Customs Site Operator meaning the LCR Freeport was officially operational.

https://www.liverpoolcityregionca.gov.uk/growing-our-economy/ liverpool-city-region-freeport/

Longulf Trading (UK) Ltd

Established in 1977, Longulf specialises in supplying Raw Materials and Machinery to meet the needs of manufacturing companies.

With a global network of suppliers, we provide services for all aspects of international trading, including marketing, logistics, finance and after sales support.

What We Do Trading

We provide dependable, responsive and innovative sources for materials and resources that are essential for our customers success. For suppliers, we offer a secure and valuable channel into alternative markets and place goods advantageously with competitive pricing.

Your personal contact at Longulf builds a comprehensive understanding of your business, its challenges and opportunities, tailoring the partnership to provide solutions that add value, drive productivity and control costs.

We recognise that leadership and sound information management are essential to our customers and suppliers. Our Directors and Senior Managers have many years of experience in international trade across five continents. All transactions are supported by a real-time tracking system to provide a first class service for our partners.

Engineering

We provide independent and impartial advice on the selection and supply of machinery, with flexibility of choice. Specialising in Project related supplies, Engineering consumables and Spare parts, for Manufacturing industries.

Longulf can innovate, deliver, and provide reliable solutions in the most challenging conditions offering the advantage of

• 40 years’ experience

• Competitive pricing

• Ability to consolidate products from different manufacturers

• Qualified and experienced personnel

• Comprehensive logistics service

• Trade finance

• After sales service.

Projects & Business Development

Our capabilities include a strategic mix of in-house strengths and the expertise of our partners. Longulf has achieved milestones in FMCG, sugar, flour milling, cement, power, & infrastructure by successfully completing projects on time and within budget in the Middle East and Africa.

We provide feasibility studies, project reports, system engineering, procurement and project management services. Longulf implement projects from concept to commissioning.

Finance, Insurance and Logistics Finance

Our team provide alternatives to meet the financial needs of our customers and suppliers. No one market is the same, we have a reputation for crafting the right solution. Through decades of dependable transactions, we have acquired a solid reputation with banks and financial bodies. Our lines of credit from first class

banks, and structuring capability enable us to provide solutions to challenging situations.

Insurance

A comprehensive marine insurance policy is provided by Lloyds Underwriters.

Logistics

We deal with all transportation and logistical requirements ensuring an efficient, secure and timely solution from source of supply to final destination. Through Your Gulf Line (YGL), our authorised logistics service provider, we pride ourselves in building essential alliances with shipping companies and obtaining the appropriate vessels and port rotations. The safe loading and unloading of materials, including damage prevention measures, is of great importance to us.

Longulf joined the ABCC in 1983 but has recently become a Platinum member.

Contact Head Office-UK

Longulf Trading (UK) Limited Prince Albert House 2 Kingsmill Terrace London NW8 6BN

Tel: +44 (0) 20 7722 7733

Fax: +44 (0) 20 7722 2989

Email: info@longulf.com

https://www.longulf.com/index.php

MadfooatCom is an acclaimed leader in financial services technology based in Amman, Jordan. Established in 2011, our solutions make it possible for people in the MENA region and beyond to view and pay their bills with the greatest ease, comfort, and speed.

Our team of financial technology specialists is committed to continuous quality and innovation in electronic bill presentment and payment (EBPP).

Our mission is to deliver world-class payment and support services for our clients and their customers.

Our main platform, eFAWATEERcom, established in partnership with the Central Bank of Jordan, has processed over 84 million invoices valued at 30 billion JOD (as of November 2021) and growing rapidly.

At MadfooatCom, our Goal is clear: to build and support solutions with purpose and excellence, always earning the trust of our clients and their customers.

At MadfooatCom, we created a next generation, real-time electronic bill presentment and payment (EBPP) solution that enables customers to make payments seamlessly and securely, online and via mobile.

We partner with most banks and billers in Jordan to provide friction-free customer experiences, shortened collection cycles and the industry’s highest level of control.

Our state-of-the-art platform, called eFAWATEERcom, established in partnership with the Central Bank of Jordan, has processed over 84 million invoices valued at more than 30 billion JOD (as of November 2021).

Financial institutions, utilities, telecoms, government agencies, non-profits and trade organizations all use our solution. We can accommodate any kind of billing

transaction regardless of industry or market.

Find out how we’re unlocking opportunities in the new digital economy for consumers, billers, and financial institutions across the region.

We are a proven financial technology leader with best-in-class EBPP delivered by a team of highly dedicated payments professionals. We enable clients of all sizes and categories to replace paper statements and payments with seamless digital alternatives that customers demand.

More than a technology provider, we are a full-service business partner handling all aspects of electronic billing and payment. We’re committed to the continuous innovation and improvement of our products and services.

MadfooatCom is the MENA region’s most trusted name in electronic billing and payments.

Wherever your business is based, your customers want to make payments in the most convenient way. Through our innovative solutions and expertise, we’re driving the adoption of seamless digital billing and payment to meet evolving needs and expectations in new markets. Now, you can partner with one of the most accomplished financial technology services team.

What Clients Gain Convenience – Enabling customers to view and pay bills seamlessly, safely and quickly when and how they choose to.

Cost savings – Cut out billing costs of the printing, collating, and mailing process while reducing payment cycles and improving cash flow.

Unmatched service – Our dedicated team helps organizations harness the power of EBPP to make their business more productive and profitable.

CEO & Founder

As CEO & Founder, Nasser Saleh brings over two decades of top-tier entrepreneurial experience in the banking and IT sectors in the MENA. Before launching MadfooatCom, he was CIO of Jordan’s second fiscal reform program. Previously, he worked at the Al Rajhi, one of Saudi Arabia’s largest banks, where he managed programmes for retail, commercial and corporate banking divisions, as well as e-trading and payments programmes.

Previously, he worked as senior advisor at Accenture in Saudi Arabia and was a senior engineer at Microsoft in the USA. He’s led numerous strategic initiatives to develop and modernize electronic payment processes that promote safe, reliable and efficient e-commerce in the region.

In 2017, Jordan’s King Abdullah II ibn Al Hussein awarded Nasser with the distinguished Medal of Excellence for establishing the country’s acclaimed electronic billing and payment gateway with the support of the Central Bank of Jordan. He holds a B.Sc. in Electrical Engineering from the University of Jordan.

https://madfooat.com/team/

By paying our local drivers and fleets fairly and providing them with training, we ensure that our drivers are treated with the respect they deserve. So when you need a local ride-hailing service, simply open the UVA app and book a minicab in a flash, knowing that you are helping the local community. From Land’s End to John O’ Groats, we are here to help.

Life moves fast in the business world, and you don’t want to have to slow down. That’s where we come in. UVA is the new way to book a ride on the fly and for when you and your team really

need them. Through our intelligent systems, we tap into fleets across the UK in order to provide you with a ride when you need it.

With UVA we can save you precious time. Instead of having to wait for a ride to come and pick up your team from the office to get to that expo, we can do it in a few simple taps. What’s even better, is when you open a business account you can see all your bookings and payments in one place! One less thing for the finance team to hassle you for!

We are founded on the guiding principle of customer and community focus, with this in mind UVA rapport partners with businesses to build long-term mutually beneficial relationships.

At UVA we value our partnerships with organisations who have big teams whether that be customers, clients, members, employees, associates, tenants, suppliers or contractors. So that is why we are offering 5% off UVA rides for employees and customers of the UVA Business Scheme.

UVA Business offers first class, customer centric service to our commercial clients. Working directly and through our

network we are synonymous with quality, reliability and value for money.

It’s no longer enough to be a fantastic UK-wide ride-hailing service, we need to do more. Here at UVA, we want to help support everyone. From working with local communities to ensuring that we fully support all of our drivers across the country, our mission is to serve you.

We aim to go above and beyond when supporting local communities. From book donations all the way to praising local heroes. We are always looking to do more, as we believe companies should look to better communities, not just take!

Booking a UVA local driver is easy. Firstly, you will need to download our app, and fill in a few details. Once done, all you need to do is ping where you want to go, and the closest driver will arrive at your door in no time.

It’s that simple, and once you have the UVA app downloaded, you can book a ride with ease. What’s even better is that you will be supporting a local driver and their family!

https://www.uva.uk

UVA is a ride-hailing service that puts people first. We know that there are loads of ways you can book a ride today, but we stand out through our support of local communities and our passion for change.

A zero-emission automotive network to connect the Global South

They are building an affordable, clean transport ecosystem for frontier and emerging markets as they seek to remove the barrier to economic development posed by a lack of access to transport which affects millions of people in the Global South. For many of us, next day delivery is nothing new, whether you’re running a business or ordering something for your home, but for OX customers in Rwanda, many used to travel by bus to a wholesale market to buy stock, and then wait, sometimes for days, to make the return trip with their produce by hitching a ride on a lorry. OX Delivers is reimagining how these entrepreneurs get their goods to and from market.

With a Total Addressable Market of over 3billion (est. total number of people who do not own a vehicle), Davis & Dowsett say there is enormous scope to build a successful international company. They estimate that over the next 10 years OX will serve 8M customers and reach $4BN revenue, as well as saving millions of tonnes of CO².

Their transport solution incorporates purpose-built technology: a next-generation electric truck designed, engineered, and tested for emerging market conditions and a fully-integrated digital platform which leverages data analytics to optimise both the logistics operation and truck development. Last year, TIME magazine named it one of the best inventions of 2022! The team are also running a pilot program in Rwanda through which they have developed

an innovative depot operations model integrating the roles of driver, mechanic, and coordinator

Since its launch in 2021, the OX Rwanda pilot has grown from one depot to four with a central office in Kigali, all of which now serve over regular 2000 customers, using third party hired trucks. OX has seen significant traction with exceptional revenue growth, having now reached $1million ARR.

Back in OX UK headquarters in Leamington Spa, the electric OX truck is still going through R&D to optimise it’s capabilities. Funded by a UK government grant from the Advanced Propulsion Centre and angel match funding, they are making continual improvements and innovations to the design. The innovations include the development of advanced, affordable EV technology through UK localisation of EDU assembly and manufacture, battery cost and density optimisation, lightweight resilient structures, intelligent off-road traction, and an advanced end-to-end closed-loop digital ecosystem. All of these features optimise cost and efficiency.

OX is committed to being ready to scale up manufacturing in 2024 and start expanding operations in Rwanda with electric trucks. The trucks will be exported flat packed and assembled in microfactories in Rwanda, and then in other countries as they expand. At this point, the depot economics become profitable: further to the electric truck being much cleaner for the environment, it will also be much cheaper to run. The purpose design also means trucks will spend less time off the road due to breakdown and repairs, and more time on the road generating revenue.

The affordable and reliable transport service OX Delivers is offering is not something their customers have previously experienced. Now they can grow and/or move more produce, there is less stock spoilage, and increased productivity and incomes. This is making an enormous difference and when OX Delivers expands, there is potential to impact millions of people in the Global South. This end-to-end, zero-emission automotive ecosystem is designed to work in harmony with the terrain and the requirements of the challenge ahead – we can’t wait to see what they do!

OX Delivers is preparing for its next investment raise in Q4 2023, if you would like to know more, please contact Senior Business Lead, Kathryn Bridge kbridge@oxdelivers.com, or reach out to the founders via LinkedIn.

OX Delivers founders, Simon Davis and Natalie Dowsett, are heralding a new era for the transport industry.

OX Delivers founders, Simon Davis and Natalie Dowsett

University, consistently ranked in the Financial Times (FT) Executive MBA rankings.

International Enterprising Impactful Leading Strathclyde

Our triple accredited and globally ranked Executive MBA is available at our international centres in Dubai, Oman and Bahrain, and is accredited by the UAE Ministry of Higher Education & Scientific Research (CAA).

The final word in business education

The programme is studied part time at the weekends to meet the needs of busy executives. We are currently accepting applications for our October 2023 cohort, make Strathclyde your destination.

Strathclyde Business School is a top business school within a leading international technological University, consistently ranked in the Financial Times (FT) Executive MBA rankings.

Our triple accredited and globally ranked Executive MBA is available at our international centres in Dubai, Oman and Bahrain, and is accredited by the UAE Ministry of Higher Education & Scientific Research (CAA).

www.strath.ac.uk/business

The programme is studied part time at the weekends to meet the needs of busy executives. We are currently accepting applications for our October 2023 cohort, make Strathclyde your destination.

www.strath.ac.uk/business