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Middle Eastern companies: Going global fast |
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22 May 2006 - Sharm El Sheikh, Egypt
Leaders of some of the biggest and fastest growing companies in the Arab world heralded a new regional confidence. Middle Eastern businesses are rejecting old geographic boundaries, taking their ambitions global.
Despite the continuation of some problems, many of the old assumptions of Middle Eastern headquartered corporations are being turned on their head, said a blue ribbon panel of Arab business leaders. Middle Eastern governments are acting as amplifiers for their homegrown corporations, helping Middle Eastern business take root in other parts of the globe.
For example, Middle Eastern companies are becoming smart about global branding. Meanwhile, free trade agreements between Middle Eastern countries and membership in global organizations such as the World Trade Organization, a large pool of available employees with western educations, a willingness to network far from home, and a new management mentality that emphasizes the importance of training, empowering and retaining employees have combined to lift Middle Eastern companies over old horizons.
“We’re going global. We have the confidence of shareholders to deploy the funds necessary to finance expansion,” declared Mohammed Alshaya, Chief Executive Officer, Alshaya Group, Kuwait.
Other panel participants included Khalid Abdulla-Janahi, Chairman of the Executive Committee, Shamil Bank of Bahrain; Akbar Al Baker, Chief Executive Officer, Qatar Airways, Qatar; François Loos, Minister Delegate for Industry of France; Naguib O. Sawiris, Chairman and Chief Executive Officer, Orascom Telecom Holding, Egypt; Sultan Ahmed Bin Sulayem, Executive Chairman, Dubai World, United Arab Emirates; and Michael J. Roux, Chairman, Roux International, Australia.
The panellists gave the audience, drawn from the 1,200 participants from 50 countries attending the World Economic Forum on the Middle East, a primer on the achievements and challenges of taking global a Middle Eastern business.
Watch sessions live from the World Economic Forum on the Middle East at: www.weforum.org/middleeast/webcasts
For more information on the meeting, visit:
General information – http://www.weforum.org/middleeast
Programme – www.weforum.org/middleeast/programme
Interviews with key participants – www.weforum.org/middleeast/indepth
Downloadable photos – http://www.pbase.com/forumweb/middleeast2006
Please note that media accreditation is closed. For accredited media, guidelines and general logistical information for the media can be found at: http://www.weforum.org/middleeast/presskit
For pictures of past regional meetings, go to: http://www.pbase.com/forumweb
Photos of our events can be downloaded free of charge for journalists at http://www.swiss-image.ch/worldeconomicforum (login required).
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The World Economic Forum is an independent international organization committed to improving the state of the world by engaging leaders in partnerships to shape global, regional and industry agendas.
Incorporated as a foundation in 1971, and based in Geneva, Switzerland, the World Economic Forum is impartial and not-for-profit; it is tied to no political, partisan or national interests. (www.weforum.org)
For more information, please contact:
Communications and Public Affairs
World Economic Forum
Tel.: +41 (0) 22 869 1212
Fax: +41 (0) 22 869 1394
E-mail: public.affairs@weforum.org
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