austro-arab trade directory 2011 online

AUSTRO-ARABTRADE DIRECTORY 2011

A-1010 Vienna,Lobkowitzplatz 1/15Tel.: +43 /513 39 65Fax: +43 /513 85 59

E-Mail: [email protected]

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Owner & EditorAustro-Arab Chamber of Commerce (AACC) Lobkowitzplatz 1/15 A-1010 ViennaT: +43 (0)1 513 39 65 F: +43 (0)1 513 85 59E: [email protected] W: www.aacc.at Responsible for the content DI Mouddar KHOUJA, Secretary General AACC

DesignBernsteiner Design Department

Print Bernsteiner Druckservice Ges.m.b.H Copyright of ImagesAACC, IStock, Fotolia, Getty Images

The information in this publication is based on carefully selected and public sources considered as reliable. The AACC does not make any representation as to its accuracy or completeness. The AACC does not assume liability for the use of this publication or its contents.

Acknowledgement

The AACC would like to acknowledge the patronage and support of its Vice-President KommR Nabil Kuzbari, who did not give up on the idea of this Trade Directory and kept motivating the AACC to finalize it.

The AACC would also like to extend its very special appreciation to the Arab German Chamber of Commerce and Industry “GHORFA” and its Secretary General Dr. Abdulaziz Al-Mikhlafi, whose continued support and cooperation are highly valued.

CONTENT

PREAMBLES Foreword 5

MEMBER DIRECTORY Addresses of Members 7

Chemical Products 8 Culture and Art 12 Drinks and Tobacco 13 Engines / Vehicles 14 Fuel and Energy 19 Manufactured Goods 20 Nutrition 24 Other Manufactured Goods 26 Raw Materials 32 Services 33 Members A-Z 52 Members/Countries 56

INTERNATIONAL CONTACTS List of Arab Embassies in Austria 67 List of Austrian Embassies in Arab Countries 69 Austrian Trade Commissions in Arab Countries 70 Addresses of Joint Arab-Foreign Chambers 73 Addresses of Federations & Chambers of Commerce, Industry and Agriculture in the Arab Countries 77 Index 80

COUNTRY PROFILES Algeria 94 Bahrain 98 Comoros 102 Djibouti 106 Egypt 110 Iraq 114 Jordan 118 Kuwait 122 Lebanon 126 Libya 130 Mauritania 134 Morocco 140 Oman 144 Palestine 148 Qatar 152 Saudi Arabia 156 Somalia 160 Sudan 164 Syria 168 Tunisia 172 United Arab Emirates 176 Yemen 180

S E R V I C E – I N F O R M A T I O N – N E T W O R K I N G

AACC – YOUR STRATEGIC BUSINESS PARTNER FOR AUSTRO-ARAB ECONOMY & TRADE!

SERVICE

INFORMATION

NETWORKING

Arab Joint Chambers, WKO/AWO, OPEC, OFID and many more…

COUNTRIES

Morocco, Oman, Qatar, Palestine, Saudi Arabia, Somalia, Sudan, Syria, Tunisia, United Arab Emirates, Yemen

CONTACTAustro-Arab Chamber of Commerce (AACC) /Österreichisch-Arabische HandelskammerLobkowitzplatz 1/15, Postfach 181, A-1015 ViennaT: +43 (0)1 513 39 65 ; F: +43 (0)1 513 85 59E: [email protected] ; W: www.aacc.at

AUSTRO-ARAB CHAMBER OF COMMERCE (AACC)ÖSTERREICHISCH-ARABISCHE HANDELSKAMMER

5

FOREWORD

It is with great pleasure that the Austro-Arab Chamber of Commerce presents its first issue of

the Trade Directory.

As a service provider with special focus on small and medium sized companies and with the

experience of over 20 years in the economies of both, Austria and the Arab World, we have

decided to create one more tool for our members and other interested partners within our net-

work. The conceptual design of the directory is to provide an overview on relevant facts and

information in a literally handy format. In a brief, yet comprehensive form the directory contains

company profiles including contact data of our members, as well as all Arab joint and regional

chambers. Since business can never be isolated from regional conditions, country profiles of all

22 Arab countries are included. Covering basic information as well as more specific aspects of

each respective country they represent a vital part of the directory.

We hope that this directory serves your needs and aspirations in doing business with the Arab

countries and vice versa.

5

Dkfm. Dr. Herbert STEPIC

President

KommR. Nabil Kuzbari Vice President

Dipl.-Ing. Mouddar KhoujaSecretary General

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MEMBER DIRECTORY

MEMBERS OF THE AUSTRO-ARAB CHAMBER OF COMMERCE

CHEMICAL PRODUCTS

Abiothrin HandelsgmbH

Activities: Insecticide products & researchRare Earths

Details:Josef-Mayburger Kai 36 / A-5020 Saltburg

Tel.: 0043 (0)662 / 629462

Fax: 0043 (0)662 / 629462 - 50


Internet: www.abiothrin.at

Contact: Mr. Martin Mörth

AKTIVSAUERSTOFF GMBH

Activities: Chemical productions

Special Products: Persalts, bleach for detergents

a) Sodium Perborates (monohydrate and tetrahydrate)

b) Sodium Percarbonate (crystallized and spray

granulated)

Arabic Countries where active: Lebanon, Syria, Egypt,

Saudi Arabia, Jordan, Tunisia, Algeria, and Libya

Details:Auer von Welsbachstr. 1 / A-9330 Althofen

Tel.: 0043 (0)4262 / 505 - 585

Fax: 0043 (0)4262 / 505 - 406


Internet: www.treibacher.com

Contact: Mr. Alois Wachmann (Managing Director)

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ALPHA – Aleppo Pharmaceutical Industries

Activities: Manufacturing and producing human

pharmaceutical specialitities

Arabic Countries where active: Syria

Details:PO Box 517

Baron Str. 6 / Aleppo, Syria

Tel.: 00963 / 21 / 212 2525

Fax: 00963 / 21 / 212 2626

E-Mail: [email protected] – [email protected]

Internet: www.alpha-syria.com

Contact: Mr. Ahmad Al-Chihabi

Al Matin Group for trade and industry

Activities: Manufacturing polypropylene and

polyethy-lene packaging and building products

Special Products: P.P woven sacks, P.P jumbo bags,

P.E sheets, striping tapes, P.E films, Pipes, GRP, P.E

pipes, aluminium composite panels


Details:PO Box 1191 / Homs, Syria

Tel.: 00963 / 31 / 21 33 092 / 3 / 4 / 5

Fax: 00963 / 31 / 21 33 091


Internet: www.almatin.com

Contact: Ms. Nahla Hazim

Borealis AG

Activities: Provides plastic materials for the infrastruc-

ture, automotive and advanced packaging industries,

markets

Special Products: Borstar technology

Details:Wagramer Str. 17-19 / A-1220 Vienna

Tel.: 0043 (0)1 / 22 400 300

Fax: 0043 (0)1 / 22 400 333


Internet: www.borealisgroup.com

Contact: Mr. Henry Sperle

Chemson Polymere-Additive AG

Activities: Manufacture and distribution of additives for

various industries

Special Products: PVC and glass additives, PVC tube

systems, boards, cables, lubricants, metal carboxylate

and lead oxid

Details:Industriestr. 19 / A-9601 Arnoldstein

Tel.: 0043 / 4255 / 2226

Fax: 0043 / 4255 / 42040


Internet: www.chemson.com

Contact: Mr. Alexander Peyker

CHEMICAL PRODUCTS

Members of AACC

EBEWE Pharma Ges.m.b.H. Nfg.KG

Activities: Production of medical & pharmaceutical

products

Special Products: Oncology (cancer treatment),

immunology. Alexan, calciumfolinat, epirubicin

Arabic Countries where active: Bahrain, Yemen, Jor-

dan, Kuwait, Lebanon, Libya, Oman, Saudi Arabia, Su-

dan, Syria, UAE, Morocco, Algeria, Tunisia, Egypt, Iraq

Details:Mondseestr. 11 / A-4866 Unterach am Attersee

Tel.: 0043 (0)7665 / 8123 101

Fax: 0043 (0)7665 / 8132


Internet: www.ebewe.at

Contact: Mr. Salim Sabbagh

EVER Neuro Pharma GmbH

Activities: Development, production, marketing & sales

of innovative, safe and effective drug products for the

treatment of neurodegenerative and cerebrovascular

diseases

Arabic Countries where active: Yemen, Jordan, Egypt,

Lebanon, and Syria

Details:Oberburgau 3 / A-4866 Unterach

Tel.: 0043 (0)7665 / 20 555-0

Fax: 0043 (0)7665 / 20 555-910


Internet: www.everneuropharma.com

Contact: Mr. Michael Marijadi

GABRIEL CHEMIE GmbH

Activities: Colouring and refining of plastics

Special Products: Colouring food packaging, cosmetics

packaging, agriculture & construction, lifestyle

Arabic Countries where active: Algeria, Egypt, Jordan,

Kuwait, Lebanon, Morocco, Oman, Saudi Arabia, Syria,

Tunisia, and UAE

Details:Industriestr. 1 / A-2352 Gumpoldskirchen

Tel.: 0043 (0)2252 / 636-30

Fax: 0043 (0)2252 / 636-60


Internet: www.gabriel-chemie.com

Contact: Mr. Haygaser Apkan

G.L. Pharma

Activities: Production of medical & pharmaceutical

products

Special Products: Tablets, capsules, syrups, creams,

suppositories, X-ray, MRI

Details:Arnethstr. 3 / A-1160 Vienna

Tel.: 0043 (0)1 / 485 35 05 191

Fax: 0043 (0)1 / 485 77 73


Internet: www.gerot.co.at

Contact: Mr. Andreas Vogelsinger

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CHEMICAL PRODUCTS

GREINER BIO-ONE GmbH

Activities: Producer of medical commodities

Special Products: Vacuette® evacuated blood collection

tubes, Vacuette® blood collection accessories, Vacuette®

blood collection safety products, as well pipette tips, petri

dishes, test tubes …

Arabic Countries where active: All

Details: Bad Haller Strawe 32 / A-4550 Kremsmünster

Tel.: 0043 (0)7583 / 67 91 139

Fax: 0043 (0)7583 / 63 18


Internet: www.gbo.com

Contact: Mr. Thomas Gotthartsleitner

Activities: Production and sale of pharmaceutical,

dietetic and dental products

Special Products: Planta lax tea; fittydent (adhesive

cream)

Arabic Countries where active: Bahrain, Oman, Qatar,

and UAE

Details:Moosham 40 / A-4943 Geinberg

Tel.: 0043 (0)7723 / 423 05

Fax: 0043 (0)7723 / 423 05 -15


Internet: www.mag-hoeveler.at

Contact: Mr. Robert von Nagy

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Mag. Hoeveler & Co GmbH

IASON GmbH

Activities: Production of radioactive pharmaceuticals,

delivers products to the nuclear and labour medicine

markets

Special Products: IASON Gladiator, EIASON Tg Ca

Details:Feldkirchnerstr. 4 / A-8054 Graz-Seiersberg

Tel.: 0043 (0)316 / 284 300

Fax: 0043 (0)316 / 284 300 - 14


Internet: www.iason.eu

Contact: Mr. Christoph Artner

Katharina Hallal GmbH

Activities: Plastics production

Special Products: PVC compounds, PVC fittings,

EPS expandable

Arabic Countries where active: Egypt

Details:Ungargasse 71/2/2 / A-1030 Vienna

Tel.: 0043 (0)718 / 4182

Fax: 0043 (0)718 / 4182-18


Internet: www.hallal.net

Contact: Ms. Katharina Hallal

CHEMICAL PRODUCTS

Members of AACC

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Activities: Manufacturer of Pharmaceutical products

Special Products: Monoclonal Antibody Erbitux®, Rebif,

Seven Seas, JointCare, Kytta, RonaCare® Ectoin

Arabic Countries where active: Bahrain, Yemen,

Jordan, Qatar, Kuwait, Lebanon, Oman, Saudi Arabia,

Syria, UAE, Egypt, Algeria, Morocco, Sudan, and Tunisia

Details: Hösslgasse 20 / A-9800 Spittal/Drau

Tel.: 0043 (0)4762 / 5151 146

Fax: 0043 (0)4762 / 5151 22


Internet: www.merck.at

Contact: Ms. Sonja Holzer

Activities: Production of fertilizers

Special Products: Herbagreen, Herbaland,

Animamineral, Phosgrow, Phosphocal

Details:Bahnhofstr. 53 / A-7471 Rechnitz

Tel.: 0043 (0)3363 / 79 238 21

Fax: 0043 (0)3363 / 79 238 22


Internet: http://www.mikro-mineral.com

Contact: Dr. Peter Ost

Ativities: Biotechnology and mobile diagnostic systems

Special Products: Noninvasive diagnostics and gadgets

for research and development

Details:Vestenötting 1 / A-3830 Waidhofen/Thaya

Tel.: 0043 (0)676 / 836 25 300

Fax: 0043 (0)2842 / 533 19


Internet: www.onkotec.eu

Contact: Mr. Alex Chiari (CEO)

Activities: Manufacturer of pharmaceutical and

biotechnological substances

Special Products: Noninvasive diagnostics and gadgets

for research and development

Details:Biochemiestr. 10 / A-6250 Kundl

Tel.: 0043 (0)5338 / 200 642

Fax: 0043 (0)5338 / 200 450


Internet: www.sandoz.at

Contact: Mr. Harald Pöll

Merck KGaA & Co. Werk Spittal

Mikro-Mineral GMBH

Onkotec GmbH

Sandoz GmbH

CHEMICAL PRODUCTS

Activities: Manufacturer of medical and pharmaceutical

products

Special Products: Eucarbon, Biocarbon, Migradon,

Eucarvet

Arabic Countries where active: Qatar, Kuwait, Libya,

Syria, Lebanon, UAE, Bahrain, Oman, Yemen, Jordan,

Egypt, Algeria, Morocco, Sudan, Saudi Arabia, Iraq,

Mauritania

Details:Goldegggasse 5 / A-1040 Vienna

Tel.: 0043 (0)1 / 505 0341 (0)11

Fax: 0043 (0)1 / 505 03 41 31


Internet: www.eucarbon.at

Contact: Ms. Ursula Duschanek

Wyeth Whitehall Export GmbH

Activities: Manufacturer of medical and pharmaceutical

products

Special Products: Fel-O-Vax FIV (Immunodeficiency

Virus), Robitussin Flu Alert, Advil

Arabic Countries where active: Egypt, Oman, Palestine,

Qatar, Saudi Arabia, Syria, UAE, Bahrain, Jordan, Kuwait,

Lebanon, Iraq, and Yemen

Details:Storchengasse 1 / A-1150 Vienna

Tel.: 0043 (0)1 / 89 114 -0

Fax: 0043 (0)1 / 89 114 -600


Internet: www.wyeth.com

Contact: Mr. Luciano De Portu

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CHEMICAL PRODUCTS

Trenka Chemisch-Pharmazeutische Fabrik GmbH

Traude Fritz

Activities: Music, Singing

Special Products: Religious and baroque music, aria,

antique, Mozart, Schubert, chants

Details:Wiedner Hauptstr. 61/6 / A-1040 Vienna

Tel.: 0043 (0)1 / 767 31 70

Fax: 0043 (0)1 / 767 31 70


Internet: www.traudl.com

Contact: Ms. Traudl Fritz

Atelier Mag. Art. Herger Helga

Activities: Painting

Special Products: Oil portraits (plants, eyes)

Details:PO Box 24, Lindauergasse 36 / A-1238 Vienna

Tel.: 0043 (0)1 / 888 20 23

Fax: 0043 (0)1 / 888 20 23

Internet: www.helga-herger.com

Contact: Ms. Helga Herger

Ing. Pablo Spitzer

Activities: Painting

Special Products: Airbrush paintings

Details:Gudrunstr. 9/1-6 / A-1100 Vienna

Tel.: 0043 (0)1 / 602 5292

Fax: 0043 (0)1 / 602 5292


Internet: www.pablo-spitzer.com

Contact: Mr. Pablo Spitzer

CULTURE AND ART

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Activities: Producer of energy drinks

Special Products: Power Horse Bottle Energy Drink,

Power Horse Sugarfree, Power Horse Energy Drink

Arabic Countries where active: Algeria, Bahrain,

Djibouti, Egypt, Jordan, Iraq, Kuwait, Lebanon, Libya,

Morocco, Oman, Palestine, Qatar, Saudi Arabia, Sudan,

Syria, UAE, Yemen

Details:Fiedlerstr. 10 / A-4041 Linz

Tel.: 0043 (0)732 / 7097 - 180

Fax: 0043 (0)732 / 738 107


Internet: www.power-horse.com

Contact: Mr. Thomas Königsbauer

Activities: Drinks producer

Special Products: Juices (grape, passionfruit, mango,

pear, apple, orange, rhubarb, 100% lemon), ice teas,

iIsotonic sports drinks, apple vinegar, RTD iced coffees

(Cafemio Cappuccino, Cafemio Macchiato)

Arabic Countries where active: Bahrain, Iraq, Jordan,

Kuwait, Lebanon, Libya, Oman, Qatar, Saudi Arabia,

Syria, UAE, Yemen

Details:Langgasse 1 / A-6830 Rankweil

Tel.: 0043 (0)5522 / 401 - 0

Fax: 0043 (0)5522 / 401 - 3


Internet: www.rauch.cc

Contact: Mr. Harald Tschemernjak

Red Bull GmbH


Special Products: Energy Drink

Arabic Countries where active: Bahrain, Iraq, Jordan,

Kuwait, Libya, Oman, Lebanon, Morocco, Qatar,

Saudi Arabia, Sudan, Syria, Tunisia, and UAE

Details:Am Brunnen 1 / A-5330 Fuschl am See

Tel.: 0043 (0)662 / 6582 7595

Fax: 0043 (0)662 / 6580 7040


Internet: www.redbull.com

Contact: Mr. Rejane Hervy

Ybbstaler Fruit Austria GmbH


Special Products: Fruit juice concentrate, beverage

compounds

Arabic Countries where active: Bahrain, Kuwait, Oman,

Saudi Arabia, and UAE

Details:Kroellendorf 45 / A-3365 Allhartsberg

Tel.: 0043 (0)7448 / 2304 - 0

Fax: 0043 (0)7448 / 2304 - 900


Internet: www.ybbstaler.at

Contact: Mr. Franz Kapshammer

DRINKS AND TOBACCO

Rauch Fruchtsäfte GmbH & Co OG

POWER HORSE Energy Drinks GmbH

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Members of AACC

DCC – Doppelmayr Cable Car GmbH & Co KG

Activities: Supplies cable propelled transit (CPT) systems

Special Products: 5 possible train set system configura-

tions: Single Shuttle, Double Shuttle, Bypass, Pinched

Loop, Circular Loop

Arabic Countries where active: Qatar

Details:P.O.Box 6

Holzriedstr. 29 / A-6961 Wolfurt

Tel.: 0043 (0)5574 / 604 -1245

Fax: 0043 (0)5574 / 604 -1231


Internet: www.dcc.at

Contact: Mr. Stephan Wabnegger

Activities: Water pumps, meters, tools and other water

related machines – Producer & Trader

Special Products: Watermeters for flats, houses and big

water meters, heat detecting meter, magnetic inductive

meter, ultrasound meter

Details:Hainburgerstr. 33 / A-1030 Vienna

Tel.: 0043 (0)1 / 716 70 - 28

Fax: 0043 (0)1 / 716 70 - 99


Internet: www.ewt.at

Contact: Mr. Michael Schwarzmann

Fritz Baumaschinen GmbH & Co KG

Activities: Machinery – producer & trader

Special Products: Motors, hydraulic machines, axes,

spare parts, gearboxes, compressor, construction

vehicles and machinery


Details:Bahnhofstr. 29a/25 / A-4481 Asten

Tel.: 0043 (0)7224 / 672 82

Fax: 0043 (0)7224 / 672 86


Internet: www.fritz-baumaschinen.at

Contact: Mr. Gerhard Fritz

GE. Energy Jenbacher GmbH & Co OHG

Activities: Leading edge energy systems, consulting,

maintenance and upgrade services

Special Products: Gas engine based generator sets

and CHP plants, driven by natural gas or bio and special

gases

Details:Achenseestr. 1-3 / A-6200 Jenbach

Tel.: 0043 (0)1 / 5244 600 - 0

Fax: 0043 (0)1 / 5244 600 - 527


Internet: www.ge.com/at

Contact: Mr. Wolfgang Berger

ENGINES, VEHICLES

Elin Wasserwerkstechnik Gesellschaft m.b.H.

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ENGINES, VEHICLES

Hörbiger Kompressortechnik GmbH

Activities: Compressor and pump solutions, engine

solutions, integrated service solutions, drive technology

Details: Donau City Str. 1 / A-1220 Vienna

Tel.: 0043 (0)1 / 22440-370

Fax: 0043 (0)1 / 2240991


Internet: www.hoerbiger.com

Contact: Mr. Gerhard Hemetsberger

Activities: Planning, construction and operation of landfill

sites and waste recycling facilities, Creation of waste

management concepts, management of waste recycling

facilities

Special Products: Remediation of existing landfill sites,

landfill sites with/without gas extraction, refuse derived

fuel production (RDF), biological treatment of organic

waste, production of alternative, renewable energy

Arabic Countries where active: UAE

Details: Werksstr. 21 / A-2824 Seebenstein

Tel.: 0043 (0)2627 / 83 111

Fax: 0043 (0)2627 / 83 111 - 4


Internet: www.theiutgroup.com

Contact: Mr. Reinhard Göschl

ISAB Industrieanlagenbau Ges.m.b.H.

Activities: Supply as well as import/export of various

types of industrial equipment

Special Products: Casting plants, electric motors, gen-

erators and converters, power generators for tractors,

railway track machinery, equipment and tools, equipment

for scrap industry, scrap shear, scrap press

Arabic Countries where active: Egypt, Syria, Yemen

Details: Karl Borromäusplatz 1/3-4 / A-1030 Vienna

Tel.: 0043 (0)1 / 713 39 39 - 0

Fax: 0043 (0)1 / 713 39 39 - 31


Internet: N/A

Contact: Mr. Ivan Sandurkov

Khwanda Group

Activities: Distributor of cars and spare parts and main-

tenance, car rental, distributor of agricultural products,

storage of fruit crops, olive derivatives producer, restau-

rants, money transfers

Arabic Countries where active: Bahrain, Egypt, Jordan,

Lebanon, Saudi Arabia, UAE

Details:PO Box 4844 / Damascus, Syria

Tel.: 00963 / 11 / 33 11 902

Fax: 00963 / 11 / 33 11 903


Internet: www.khwandagroup.com

Contact: Mr. Karim Khwanda

Members of AACC

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Innovation und Technik GmbH

Leitz GesmbH & Co KG

Activities: Tools used in wood and plastics processing,

consulting, engineering, wood building, furniture produc-

tion, board processing, machine manufacturers, window

& door products, interior engineering


Lebanon, Saudi Arabia, UAE

Details:Leitzstr. 80 / A-4752 Riedau

Tel.: 0043 (0)7764 / 8200 - 0

Fax: 0043 (0)7764 / 8200 - 111


Internet: www.leitz.org

Contact: Mr. Thomas Höchtel

LIEBHERR-Werk Nenzing GmbH

Activities: Manufacturer of lifting cranes and cargo han-

dling equipment for the maritime industry, the extracting

and transhipment industry, in the fields of demolition and

recycling as well as for foundation and special deep foun-

dation works

Special Products: Ship cranes, offshore cranes, mobile

harbour cranes and reachstackers, universal duty cycle

crawler cranes, lift cranes, foundation equipment

Arabic Countries where active: Algeria, Egypt, Saudi

Arabia, UAE

Details:Dr. Hans Liebherr Str. 1 / A-6710 Nenzing

Tel.: 0043 (0)50809 / 41-0

Fax: 0043 (0)50809 / 41-500


Internet: www.liebherr.com

Contact: Mr. Kurt Rudigier

Omicron Electronics GmbH

Activities: Electronics, measuring, testing and inspection

equipment – Producer & Traders

Special Products: Power system testing, creative soft-

ware solutions for automated testing and documentation

capabilities, protection relays, energy meters,

transducers, PQ analyzers

Arabic Countries where active: Bahrain, Egypt, Iraq,

Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Pales-

tine, Qatar, Saudi Arabia, Sudan, Syria, UAE, Yemen

Details:Oberes Ried 1 / A-6833 Klaus

Tel.: 0043 (0)5523 / 507 - 141

Fax: 0043 (0)5523 / 507 - 9999


Internet: www.omicron.at

Contact: Mr. Peter Hosp

Plasser & Theurer Export von Bahnbaumaschinen GmbH

Activities: Manufacturer

Special Products: Permanent way machinery


Details:Johannesgasse 3 / A-1010 Vienna

Tel.: 0043 (0)1 / 515720

Fax: 0043 (0)1 / 5131801


Internet: www.plassertheurer.com

Contact: Mr. Gerhard Moor

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ENGINES, VEHICLES

Spitzwieser Sport & Sondermotoren e.U.

Activities: High performance sports cars and compo-

nents, high performance internal combustion engine

components, significant contemporary technologies –

producer & trader

Special Products: Development, manufacture, distribu-

tion and service of high performance sports cars, SSS

sports cars from the bare chassis, refinement and perfor-

mance upgrades, preparation for racing purposes, devel-

opment, manufacture, distribution and service of high

performance internal combustion engines, engine perfor-

mance upgrades for road cars, prototype engines, prepa-

ration of racing engines, recreation of rare engine compo-

nents, surface treatments and coatings

Arabic Countries where active: Bahrain, Kuwait, UAE

Details:Industriezeile 54 / A-5280 Braunau am Inn

Tel.: 0043 (0)7722 / 64 368

Fax: 0043 (0)7722 / 64 368


Internet: www.spitzwieser.com

Contact: Mr. Wolfgang Spitzwieser

Tiger 1 Co.

Activities: Consultancy services and supplying heavy

machinery such as cranes


Details:Akram Str. 21 / Mazah, Damascus

Tel.: 00963 / 11 / 6110488

Fax: 00963 / 11 / 6130414


Internet: www.tiger1me.com

Contact: Mr. Ziad Tayara

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Members of AACC

Activities: Production and installation of vacuum units

and systems

Special Products: Industrial vacuum cleaners, central

vacuum installation, mobile suction devices, dust collec-

tors, oil mist separators, crushing units, splinter

management


Details:Linzer Str. 1 / A-3003 Gablitz

Tel.: 0043 (0)2231 / 6644 – 6

Fax: 0043 (0)2231 / 6644 – 750


Internet: www.ti-tella.at

Contact: Mr. Johannes Mayrl

Ti-Tella Handelsgesellschaft mbH

Trade Line Machinery

Activities: Machinery trader, surplus & second hand

equipment for pulp & paper industry

Special Products: Pulper and slushing machine cleaner,

refiner and deflaker screen and coarse screen, thickener

and washer pumps and vacuum pumps, paper machines,

board machines, parts of paper and board machines,

various converting machines, laboratory equipment de-

watering machines, boiler and turbines valves, slitter

rewinder sheet cutter; Hermas International

Trading(Jordan), Oubary (Lebanon)

Details:Bahnhofstr. 29a/25 / A-4810 Gmunden

Tel.: 0043 (0)7612 / 715 08

Fax: 0043 (0)7612 / 711 36


Internet: www.tradelinemachinery.com

Contact: Mr. Christian Gruber

ENGINES, VEHICLES

TUMA PUMPENSYSTEME GMBH

Activities: Water pumps and related engineering;

producer & trader

Special Products: Lobe pump unit, custom made units,

vacuum drying unit, vacuum degassing unit, oil drying

unit, vacuum fish unloading unit, boiler feed unit, vacuum

unit with frequency controller, central vacuum SPECK,

septic tank suction, vacuum sewage collection container

Details:Eitnergasse 12 / A-1230 Vienna

Tel.: 0043 (0)1 / 914 9340

Fax: 0043 (0)1 / 914 1446


Internet: www.tumapumpen.at

Contact: Ms. Caroline Tuma

UNTHA shredding technology

Activities: Shredding technology – producer & trader

Special Products: Four-shaft shredders, two-shaft

shredders, single-shaft shredders

Arabic Countries where active: Lebanon, Syria

Details:Moldanstr. 141 / A-5431 Kuchl/Saltburg

Tel.: 0043 (0)6244 / 7016 - 537

Fax: 0043 (0)6244 / 7016 - 1


Internet: www.untha.com

Contact: Mr. Daniel Wresnik

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ENGINES, VEHICLES

FUEL AND ENERGY

AGT Management & Engineering AG

Activities: Converting waste materials into electricity or

synthetic gas, fuels and constructing the conversion

plants

Special Products: Electricity produced from used tyres,

industrial waste, sewage sludge, solid waste, biomass

Arabic Countries where active: Saudi Arabia

Details:Lederergasse 3 / A-4861 Schöfling

Tel.: 0043 (0)7662 / 48 48 - 16

Fax: 0043 (0)7662 / 48 48 - 12


Internet: www.agt-world.com

Contact: Mr. Manfred Lenzi

Geosat Technology Limited

Activities: Oil and natural gas exploration

Details:Leobersdorferstr. 42 / A-2560 Berndorf

Tel.: 0043 (0)2672 / 819 759 - 60

Fax: 0043 (0)40 440 / 6 21 664


Internet: www.geosat.info

Contact: Mr. Michael Mumelter

OMV Aktiengesellschaft

Activities: Crude oil and products; producer & trader

Special Products: Exploration & production, gas & pow-

er, refining & marketing, petroleum, hydrogen, sulphur

Arabic Countries where active: Egypt, Iraq, Libya,

Tunisia, UAE, Yemen

Details:Trabrennstr. 6-8 / A-1020 Vienna

Tel.: 0043 (0)40 440 / 21 664

Fax: 0043 (0)40 440 / 6 21 664


Internet: www.omv.com

Contact: Ms. Daniela Auer

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Members of AACC

Böhler International GmbH

Activities: Export sales of high grade special steel prod-

ucts from Bohler Edelstahl GmbH

Special Products: Tool steels, high speed steel, powder

material etc.

Arabic Countries where active: Businesses in Bahrain,

Libya, Oman, Qatar, Sudan, Yemen; also active in: Alge-

ria, Egypt, Jordan, Kuwait, Lebanon, Morocco, Saudi

Arabia, Syria, Tunisia, UAE

Details:Norwestbahnstr. 12-14 / A-1201 Vienna

Tel.: 0043 (0)1 / 33 143

Fax: 0043 (0)1 / 37 419 00 110


Internet: www.bohler-international.com

Contact: Mr. Kilian Wagner

EOOS GmbH

Activities: Insulation company with an entire range of

services in the fields of heat, cold, noise and fire

protection


Details:Flossland 38 / A-8720 Knittelfeld

Tel.: 0043 (0)3512 / 49 475

Fax: 0043 (0)3512 / 49 642


Internet: www.eoosgmbh.com

Contact: Mrs. Martina Hartensteiner

F. J. Elsner Trading & Co

Activities: Trading of steel and all kinds of steel-prod-

ucts, chemicals, paper & agro-commodities

Special Products: Plastics and industrial chemicals,

newsprint paper, grains


Details:Am Heumarkt 11 / A-1030 Vienna

Tel.: 0043 (0)1 / 797 36 0

Fax: 0043 (0)1 / 797 36 230


Internet: www.elsner.at Contact: Dr. Siegfried Purrer

IMET Handelsgesellschaft

Activities: Wholesale of raw materials, fertilizers and

agricultural products, sea and river transport services

Special Products: Phosphate rock, TSP, SSP, wheat,

yellow corn

Details:Börsegasse 11/166 / A-1010 Vienna

Tel.: 0043 (0)1 / 513 78 67

Fax: 0043 (0)1 / 513 78 67 -92


Internet: N/A

Contact: Mr. Wolfgang Haderer

MANUFACTURED GOODS

20

MANUFACTURED GOODS

Khalil Sara Establishment

Activities: Textiles (wool and carpets), wine, spirits, and

food products (cheese); producer & trader


Details:PO Box 10242 / Damascus, Syria

Tel.: 00963 / 11 / 331 2159

Fax: 00963 / 11 / 331 2158


Internet: N/A

Contact: Mr. Khalil Sara

Activities: Paper products; producer & trader

Special Products: Recycled containerboard, industrial

bags, uncoated fine paper

Arabic Countries where active: Jordan, Lebanon,

Morocco, Oman, Qatar, Saudi Arabia, UAE, Yemen

Details:Kelsenstr. 7 / A-1032 Vienna

Tel.: 0043 (0)1 / 795 06 5728

Fax: 0043 (0)1 / 790 13 74 5728


Internet: www.mondigroup.com

Contact: Mr. Martin Scheibmeir

OVOTHERM International HandelsGmbH

Activities: Egg packaging products and egg marketing

services

Arabic Countries where active: Bahrain, Egypt, Yemen,

Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Saudi


Details:Ricoweg 28 / A-2351 Wr. Neudorf

Tel.: 0043 (0)2236 / 61 928 - 19

Fax: 0043 (0)2236 / 62 741


Internet: www.ovotherm.com

Contact: Ms. Gertraud Vimetal

Mondi Business Paper Sales GmbH

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Members of AACC

Papierfabrik Wattens GmbH & Co KG

Activities: Special paper products

Special Products: Cigarette and plug wrap paper

Arabic Countries where active: Jordan, Syria,

Tunisia, UAE, Yemen

Details:Ludwig-Lassl-Str. 15 / A-6112 Wattens

Tel.: 0043 (0)5224 / 595 - 0

Fax: 0043 (0)5224 / 595 - 250


Internet: www.delfortgroup.com

Contact: Mr. Thomas Janisch

Activities: Real Estate, agriculture and wood products

(mainly from Romania); producer & trader

Details:Universitätsstr. 4 TOP 7 / A-1090 Vienna

Tel.: 0043 (0)664 / 5478320


Internet: N/A

Contact: Mr. Bernhard Knorr

RHI AG

Activities: Refractories from various materials – producer

& trader

Special Products: Steel, cement, lime, non-ferrous,

glass, enviro-energy chemistry, ceramics, raw materials

Arabic Countries where active: Jordan, Libya, Oman,

Syria, UAE, Yemen

Details:Wienerbergstr. 11 / A-1100 Vienna

Tel.: 0043 (0)1 / 50 213 - 0

Fax: 0043 (0)1 / 50 213 - 6213


Internet: www.rhi-ag.com

Contact: Dr. Dieter Siegel

Activities: Paper and packaging products

Special Products: Cigarette paper, grease and water-

proof paper, carbonless paper, coated and uncoated

wood free paper, aluminium laminated paper, toilet tissue

paper white & coloured, MG bleached sulphite/sulphate

Arabic Countries where active: Algeria, Jordan, Sudan,

Syria, Yemen

Details:Thurngasse 10 / A-1090 Vienna

Tel.: 0043 (0)1 / 401 56 (0)162

Fax: 0043 (0)1 / 401 56 / 7100


Internet: www.roxcel.com

Contact: Ms. Elfriede Mühlhauser

Activities: Wood and paper products

Special Products: Variety of paper (includes office pa-

pers and publication papers), packaging, graphic prod-

ucts, market pulp, and wood products

Details:Brand 44 / A-3531

Tel.: 0043 (0)2826 / 7001 - 0

Fax: 0043 (0)2826 / 7001 - 2390


Internet: www.storaenso.com

Contact: Dr. Silvio Butalja

Ramses Zwei GmbH

ROXCEL HandelsgesmbH

22

Stora Enso Timber AG

MANUFACTURED GOODS

VA Intertrading AG

Activities: Trading in steel products, food products,

pharmaceutical products, chemical products, specialized

countertrade; transportation & logistics services

Details:Strasserau 6 / A-4020 Linz

Tel.: 0043 (0)1 / 732 7804 - 0

Fax: 0043 (0)1 / 732 7804 - 355


Internet: www.vait.com

Contact: Mr. Peter Weigl

VIMPEX HandelsgesmbH.

Activities: Trade & export – paper & board products

Special Products: Road marking material, traffic

system solutions, traffic lights, highway and tunnel

guidance systems, parking guidance, state-of-the-art

traffic telematic software and communication solutions

Arabic Countries where active: Algeria, Bahrain, Egypt,

Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, Qatar,

Saudi Arabia, Syria, Tunisia, UAE

Details:Kärntner Ring 4 / A-1010 Vienna

Tel.: 0043 (0)1/ 501 51 - 0

Fax: 0043 (0)1/ 501 51 - 1


Internet: www.vimpex.at

Contact: Mr. Louai Kuzbari

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Members of AACC

MANUFACTURED GOODS

NUTRITION

ALVETRA u. WERFFT AG

Activities: Animal health care; producer & trader

Special Products: Carofertin (improves fertility in

livestock)

Arabic Countries where active: Saudi Arabia, UAE

Details:Boltzmanngasse 11 / A-1090 Vienna

Tel.: 0043 (0)1 / 319 14 56 - 320

Fax: 0043 (0)1 / 319 14 56 - 344


Internet: www.alvetrawerfft.com

Contact: Dr. Werner Frantsits (CEO), Dr. Margit Schmidt

(Veterinary Dept.)

Activities: Exotic drinks producer, energy drinks

Special Products: Tantra Exotic Drink, K.O. Hi Level

Arabic Countries where active: Lebanon, Libya, UAE

Details:Siemenstr. 15/2. Stock / A-6063 Neu-Rum

Tel.: 0043 (0)512 / 890 119 – 30

Fax: 0043 (0)512 / 890 119 – 22


Internet: www.bev-group.com

Contact: Mr. Tariq El-Hamami

Biolachs

Activities: Trader of Salmon products

Special Products: Salmon products and other organic

products

Details:Obervellach 33 / A-9620 Hermagoras

Tel.: 043 (0)4282 / 2069

Fax: 0043 (0)4282 / 2069 / 20


Internet: www.biolachs.at

Contact: Mr. Peter Bachmann

Gebrüder Woerle GesmbH.

Activities: Dairy products, cheese

Special Products: Hard cheese, semi-hard cheese, pro-

cessed cheese, cream cheese


Jordan, Kuwait, Lebanon, Libya, Oman, Palestine, Qatar,

Saudi Arabia, Syria, UAE, Yemen

Details:Enzing 26 / A-5302 Henndorf/Wallersee

Tel.: 0043 (0)6214 / 6631 - 0

Fax: 0043 (0)6214 / 6631 - 33


Internet: www.woerle.at

Contact: Mr. Gerhard Woerle

BEV-Group

24

NUTRITION

Ghraoui Group

Activities: Producer of luxurious chocolate products,

crystallized fruits and confectionary


Details:PO Box 5256

19th floor, Damascus Tower, Damascus, Syria

Tel.: 00963 / 11 / 231 7000

Fax: 00963 / 11 / 231 7666


Internet: N/A

Contact: Mr. Bassam Ghraoui

Activities: Import and wholesale of food stuff

Arabic Countries where active: Lebanon, Syria,

Tunisia, Egypt, Saudi Arabia

Details:Gänsbachergasse 2, Megapark / A-1110 Vienna

Tel.: 0043 (0)1 / 796 86 88

Fax: 0043 (0)1 / 796 86 88 - 20


Internet: www.gresam.com

Contact: Mr. Samuel Nahabedian

Activities: Jam and honey products; producer & trader

Special Products: Apricot, plum, and raspberry jam,

floral and dandelion honey

Details:Weißenbach 162 / A-5350 Strobl am Wolfgangsee

Tel.: 0043 (0)6137 / 5431

Fax: 0043 (0)6137 / 5431 - 5


Internet: www.bergrose.at

Contact: Ms. Franziska Zopf

Activities: Producer, cheese products

Special Products: Processed cheese singles/triangles/

cups


Jordan, Kuwait, Lebanon, Libya, Oman, Qatar, Saudi

Arabia, Sudan, Tunisia, UAE, Yemen

Details:Kugelbeerweg 3 / A-6912 Hörbranz

Tel.: 0043 (0)5573 / 8085 0

Fax: 0043 (0)5573 / 8085 152


Internet: www.SchreiberRupp.at

Contact: Mr. Bernd Hofer

Die Marmeladen-Manufaktur

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Members of AACC

Gresam HandelsgesmbH

Schreiber & Rupp GesmbH

Activities: Offering telemetry solutions in water manage-

ment, irrigation management, agricultural management

and environmental monitoring

Special Products: Wireless sensor networks, software,

Adcon RTU’s, sensors and accessories

Arabic Countries where active: Egypt, Iraq, Jordan,

Morocco, Saudi Arabia

Details:Inkustr. 24 / A-3400 Klosterneuburg

Tel.: 0043 (0)2243 / 38 28 00

Fax: 0043 (0)2243 / 38 28 06


Internet: www.adcon.at

Contact: Dr. Bernhard Pacher

Activities: Construction industry, plant and mechanical

engineering with systems in aluminium, steel and PVC-U

Special Products: Fold-slide units aluminium, sliding

doors PVC-U, systems for facades and skylights, door

systems stainless steel, solar shading (Louvre Blades),

balcony glazing, hallow steel, shaped and oval tubes

Details:Goldschlagstr. 87-89 / A-1150 Vienna

Tel.: 0043 (0)1 / 98 130 - 0

Fax: 0043 (0)1 / 98 130 - 64


Internet: www.alukoenigstahl.com

Contact: Mr. Peter König

OEG

Activities: Building plants

Special Products: Waste water treatment, sea water

desalination


Details:Vogelsangstr. 3 / A-5301 Mondsee

Tel.: 0043 (0)6232 / 7722 - 0

Fax: 0043 (0)6232 / 7722 -1710


Internet: www.aqua-engineering.at

Contact: Dr. Hannes Laimer

Activities: Contract and residential business

Special Products: Environment-friendly products and

100% recyclable upholstery and curtain fabrics; custom

made products on request

Arabic Countries where active: Saudi Arabia, UAE,

Jordan, Kuwait

Details:Hoheneich 136 / A-3945

Tel.: 0043 (0) 2852 502-0

Fax: 0043 (0) 2850 502-252


Internet: www.backhausen.com

Contact: Mr. Thomas Wagner (export manager)

OTHER MANUFACTURED GOODS

ADCON Telemetry GmbH

Alu König Stahl

Aqua Engineering GesmbH

Backhausen interior design GmbH

26


Beta Handelsgesellschaft m.b.H.

Activities: Outdoor wellness

Special Products: Whirlpools

Arabic Countries where active: Qatar, Saudi Arabia,

UAE

Details:Weblinger Guertel 20 / A-8054 Graz

Tel.: 0043 (0)316 / 816 153

Fax: 0043 (0)316 / 816 153 22


Internet: www.beta-wellness.com

Contact: Mr. Thair Abud

Christian Maschek Schmuck

Activities: Goldsmith

Special Products: Unique specimen

Details:Lobkowitzplatz 1 / A-1010 Vienna

Tel.: 0043 (0)1 / 512 02 94

Fax: 0043 (0)1 / 512 02 94-4


Internet: N/A

Contact: Mr. Christian Maschek

Dotzauer Kristallleuchten ProduktionsGmbH

Activities: Crystal chandeliers & decorative lightings &

producer & trader

Special Products: Hanging chandeliers, ceiling lights,

wall lights, table lamps, floor lamps, custom made light-

ings, jewellery

Arabic Countries where active: Egypt, Jordan, Kuwait,

Lebanon, Oman, Qatar, Saudi Arabia, UAE

Details:Franz Schubert Str. 15 / A-2345 Brunn/Gebirge

Tel.: 0043 (0)2236 / 33 193 10

Fax: 0043 (0)2236 / 32 920


Internet: www.dotzauer.com

Contact: Mr. Jochen Gold

D. Swarovski & Co.

Activities: Accessories, crystal products; producer &

trader

Special Products: Jewellery, watches, dress, bags


Kuwait, Lebanon, Libya, Morocco, Oman, Qatar, Saudi


Details:Swarovskigasse 36 / A-6112 Wattens

Tel.: 0043 (0)5224 / 500 2307

Fax: 0043 (0)5224 / 500 630


Internet: www.swarovski.com

Contact: Mr. Paul Gerin-Swarovski

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Members of AACC

Frey Wille GmbH & Co KG

Activities: Clothing and accessories, modern jewellery

producer & trader

Special Products: Diva bangles, silk scarves, handbags,

barrel & quadra watches, bracelets, pendants, rings,

earrings

Arabic Countries where active: Bahrain, Kuwait, Leba-

non, Oman, Qatar, Saudi Arabia, Syria, UAE

Details:Gumpendorferstr. 81 / A-1060 Vienna

Tel.: 0043 (0)1 / 599 25 - 0

Fax: 0043 (0)1 / 599 25 - 43


Internet: en.frey-wille.com

Contact: Ms. Eva Brummeir

GLS Tanks GmbH

Activities: : Glass lined steel-tanks, silos and related

accessories

Special Products: Roofs, roof hatches, flanches, balus-

trades, insulations, ladders, platforms, side glasses, etc.

Details:Industriestr. 6 / A-3850 Heidenreichstein

Tel.: 0043 (0)2862 / 531 87 -832

Fax: 0043 (0)2862 / 531 87 -5832


Internet: www.glstanks.com


Hasenkopf

Activities: Natural stone solutions for interior and exterior

constructions

Special Products: : Custom tailored design, consultancy

service, shower floor, footsplash, creative bathroom,

creative showroom, residential tower, outdoor entrance,

entrance, gold on stone

Arabic Countries where active: UAE, Qatar, Sudan

Details:Znaimerstr. 68 / A-2020 Hollabrunn

Tel.: 0043 (0)2952 / 2776

Fax: 0043 (0)2952 / 4955

E-Mail: [email protected] Internet: www.hasenkopf.at

Contact: Ms. Christina Hasenkopf

Herz Austria GmbH

Activities: Specialization in the field of plastic

conditioning and processing

Details:Johann Galler Str. 20 / 2120-Wolkersdorf

Tel.: 0043 (0)2245 / 82494-0

Fax: 0043 (0)2245 / 82494-9


Internet: www.herz-gmbh.com

Contact: Marion Herz-Degenkolb

28


J.T. Kalmar GmbH

Activities: Custom lighting and Services: Design, Produc-

tion, delivery and installation of major lighting installations

for Hotels, Palaces, Public buildings, and Ships

Special Products: Custom designed light fittings and

chandeliers



Saudi Arabia, Syria, UAE

Details:Bennogasse 8 / A-1080 Vienna

Tel.: 0043 (0)1 / 40 90 880 - 0

Fax: 0043 (0)1 / 40 90 880 - 80


Internet: www.kalmarlighting.com

Contact: Mr. Thomas Calice

MOBIL BAUSTOFFE GmbH

Activities: Concrete and construction material supply

Special Products: Tailor-made batching plants and

facilities

Arabic Countries where active: Qatar

Details:Erlenweg 1 / A-9463 Reichenfels

Tel.: 0043 (0)4359 / 2120

Fax: 0043 (0)4359 / 2120 -15


Internet: www.mobil-baustoffe.com

Contact: Dr. Fridolin Hornung

Modern Life Handels GmbH

Activities: Indoor wellness

Special Products: Bathroom products

Arabic Countries where active: Qatar, Saudi Arabia,

UAE

Details:Alpine Str. 54 / A-8650 Kindberg

Tel.: 0043 (0)316 / 816 153

Fax: 0043 (0)316 / 816 153 26


Internet: www.beta-wellness.com


Activities: Manufacture and sale of handmade porce

Special Products: Custom made porcelain (bespoke),

wedding lists, worldwide service (packaging & delivery)

Arabic Countries where active: Oman

Details:Schloss Augarten, Obere Augartenstr. 1 /

A-1020 Vienna

Tel.: 0043 (0)1 / 211 24 121

Fax: 0043 (0)1 / 211 24 199


Internet: www.augarten.at

Contact: Ms. Claudia Uth

Neue Wiener Porzellanmanufaktur AUGARTEN GmbH

29

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Members of AACC


Österr. Doka Schalungs- Gerüstbautechnik GmbH.

Activities: System components for production facilities

Special Products: Load-bearing towers, working and

protection platforms

Arabic Countries where active: Algeria, Bahrain,

Jordan, Kuwait, Lebanon, Libya, Morocco, Qatar, Saudi

Arabia, Tunisia, UAE

Details:Reichsstr. 23 / A-3300 Amstetten

Tel.: 0043 (0)7472 / 605 - 0

Fax: 0043 (0)7472 / 605 - 3981


Internet: www.doka.com

Contact: Mr. Leopold Hochpöchler

Activities: Full service provider of national and interna-

tional markets in the fields of construction, i.e. building

construction, civil engineering, project development, road

construction, tunnel construction

Details:Absberggasse 47 / A-1100 Vienna

Tel.: 0043 (0) 50626 - 2371

Fax: 0043 (0) 50626 -1186


Internet: www.porr.at

Contact: Mr. Wolfgang Hirzi

Activities: Provides construction equipment, scaffolding

and formwork, Consultation, lease terms and other

services

Special Products: Formwork systems in steel and alu-

minium and all accessories, slab formwork, tables and

column formwork, scaffolding systems for every purpose


Details: Römerweg 9 / A-4844 Regau

Tel.: 0043 (0)7672 / 72 711

Fax: 0043 (0)7672 / 78 805


Internet: www.ringer.at

Contact: Mr. Thomas Ringer

Activities: Manufacturer of Crystal

Special Products: Crystal components for decorative

lighting

Details:Gablonzer Str. 54-61 / A-4550 Kremsmünster

Tel.: 0043 (0)7583 / 7723

Fax: 0043 (0)7583 / 7812


Internet: www.scholer-crystal.at

Contact: Mr. Christian Pamminger

PORR – ALLGEMEINE BAUGESELLSCHAFT – A. PORR AG

RINGER KG

Schöler & Co GmbH

30


Science & Research Marketing GmbH

Activities: Vibration stimulator shoe products, environ-

mental sensors, building & planning hotels and sports

centers

Special Products: PSR-Shoes (www.psr-schuh.at)

Details:Schubertweg 12 / A-3830 Waidhofen/Thaya

Tel.: 0043 (0)676 / 694 39 71

Fax: 0043 (0)1 / 310 01 72


Internet: www.scienceundresearch.at

Contact: Mr. Alex Chiari (CEO)

Sitte Vienna

Activities: Retailer of exclusive high-quality knitwear

Special Products: Knitted dresses, shirts, trousers, jack-

ets, coats; all made in Austria

Details:Akazienweg 13 / A-2122 Riedenthal

Tel.: 0043 (0) 2245-20032

Fax: 0043 (0) 2245-824949


Internet: www.sittevienna.com

Contact: Ms. Marion Herz-Degenkolb

Activities: Building construction & civil engineering (incl.

bridge work, building industrial, residential and commer-

cial buildings), transportation infrastructure (incl. road and

railway construction)

Special Products: Special divisions & concessions (tun-

nelling works, ground engineering, project development

and PPP projects)

Details:Donau-City-Str 9 / A-1220 Vienna

Tel.: 0043 (0)1 / 22 422 - 0

Fax: 0043 (0)1 / 22 422 - 2226


Internet: www.strabag.com

Contact: Mr. Nematolla Farrokhnia

M. Swarovski GmbH

Activities: Production of reflective glass beads for road

marking systems and surface treatment applications

Special Products: Low and high index retroreflective

glass beads for high performance road and airport mark-

ing systems; industrial grade glass beads for blasting and

surface treatment

Arabic Countries where active: Whole Middle East

(through sister companies and local partners)

Details:Industriestr. 10 / A-3300 Amstetten

Tel.: 0043 (0)7472 / 202 - 0

Fax: 0043 (0)7472 / 202 - 249


Internet: www.swarco.com

Contact: Mr. Hans Jesacher

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Members of AACC

STRABAG SE


Leila Kaplan

Cross-Out

Leila Kaplan

Replacement Text

CORRIGENDA: [email protected]

Leila Kaplan

Cross-Out

Leila Kaplan

Replacement Text

CORRIGENDA: Mr. Siegfried Wanker

DCM DECOmetal GmbH

Activities: Markets raw materials in steel and mineral

sands industries

Special Products: Metal, ores, alloys, cored wires

Arabic Countries where active: Oman, UAE

Details: Elisabethstr. 10/5 / A-1010 Vienna

Tel.: 0043 (0)1 / 585 5363 - 740

Fax: 0043 (0)1 / 585 5363 - 760


Internet: www.dcm-vienna.com

Contact: Ms. Inge Ganahl

Mayr-Melnhof Timber Trading GmbH

Activities: Wood processing and products

Special Products: Sawn timber, laminated beams

Arabic Countries where active: Algeria, Bahrain, Libya,

Morocco, Oman, Qatar, Sudan, Syria, Tunisia, UAE,

Yemen

Details:Turmgasse 67 / A-8700 Leoben

Tel.: 0043 (0)3842 / 300 35 - 22

Fax: 0043 (0)3842 / 300 35 - 00


Internet: www.mm-holz.com

Contact: Mr. Josef Steiner

SAG Aluminium Lend GmbH&Co.KG

Activities: Aluminium solutions for various industries

Special Products: Special welding constructions, pres-

surised and utility water tanks for concrete mixing

structures

Arabic Countries where active: Oman

Details:Bundesstr. 25 / A-5651 Lend

Tel.: 0043 (0)6416 / 6500 - 230

Fax: 0043 (0)6416 / 6500 - 369


Internet: www.sag.at

Contact: Mr. Andreas Kraly

Tyche Rohstoffhandel & Beteiligung GmbH

Activities: Trader of construction material and agricultural

products

Special Products: Foliar fertilizer, steel fibres for

industrial floors

Details:Russbergstr. 87 / A-1210 Vienna

Tel.: 0043 (0)1 / 290 00 62

Fax: 0043 (0)1 / 290 08 05


Internet: www.tyche.co.at

Contact: Mr. Anton Scharmitzer, Mr. Stefan Augustyn

RAW MATERIALS

32

a-consult GMBH

Activities: Consulting, business development, project

development

Special Products: Information- and communication-

technology, eGovernment, eHealth

Arabic Countries where active: Currently focused on

Egypt, Morocco, Syria; target countries are all Arabic

countries

Details:Hetzgasse 20 / A-1030 Vienna

Tel.: 0043 (0)1 / 890 3800 0

Fax: 0043 (0)1 / 890 3800 900


Internet: www.a-consult.at

Contact: Mr. Albert Kronberger

Accès Alpintechnik Salzburg

Activities: Supplier of special technical solutions for

working at heights, fall protection

Special Products: Consulting and performing of special

solutions from planning to implementation, seminars and

training-on-the-job, multimedia building examination

system, SYAM (Mobile Anchor System)

Details:Halleiner Landes Str. 56/5 / A-5411 Oberalm

Tel.: 0043(0)664 / 27 50 990

Fax: 0043 (0)6245 / 205 20


Internet: www.riggingservice.com

Contact: Mr. Robert Klein

Architekt Achtsnit & Achtsnit

Activities: Civil engineering, building construction &

development

Details:Jaquingasse 51/3 / A-1030 Vienna

Tel.: 0043 (0)1 / 713 00 00

Fax: 0043 (0)1 / 713 66 67


Internet: www.achtsnit.at

Contact: Mr. Wolfgang Achtsnit

Al Mashreq Investment Fund

Activities: Investment services

Special Products: Investment in the oil sector


Details:PO Box 108

Bezem Ave, Malki, Damascus, Syria

Tel.: 00963 / 11 / 2110053

Fax: 00963 / 11 / 2113312


Contact: Mr. Hussein Jairoudi

SERVICES

33

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34

Alshaya Retail GmbH

Activities: Trader in a wide variety of sectors, including

the latest and best recognized names in fashion, foot-

wear, kid’s clothing, health and beauty, home-style, res-

taurants, prescription eyewear, pharmaceuticals, sports

fashion and office supplies


Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, UAE

Details:Kantgasse 3 / A-1010 Vienna

Tel.: 0043 (0)1 / 5230787

Fax: 0043 (0)1 / 5266510


Internet: www.alshaya.com

Contact: Mr. Peter Gallhofer

Activities: Transportation and logistics, air sea freight

services


Jordan, Kuwait, Libya, Oman, Palestine, Saudi Arabia,

Sudan, Syria, UAE

Details:PO BOX 14627

Ras Abu Abboud, Abdullah bin Thani Bldg No. 5 / Room

No. 2 / Near V.I.P. Roundabout, Doha, Qatar

Tel.: 00974 / 4462 17 01

Fax: 00974 / 4462 17 25


Internet: www.arabital.com

Contact: Ms. Sonja Freigassner

ARACON Consulting GmbH

Activities: Consulting for sales, business networking,

export and other forms of market entry

Special Products: Across industries

Arabic Countries where active: Kuwait, Qatar, Saudi

Arabia

Details:Mitterndorf 5/10 / A-4801 Traunkirchen

Tel.: 0043 (0)660 / 733 50 45

Fax: 0043 (0)660 / 33 733 50 45


Internet: www.aracon.at

Contact: Mr. Wolfgang Maurer

Activities: Organizing trade fairs & exhibitions

Special Products: International market included

Arabic Countries where active: Egypt

Details:PO Box 108

Hassan Hashem Street 2 / Fleming, Alexandria, Egypt

Tel.: 00203 / 583 24 77

Fax: 00203 / 585 88 99


Internet: www.asiahgroup.com

Contact: Mr. Fouad Hussein Ali

Asiah Group LtdArabital Shipping

SERVICES

asp.consulting GmbH

Activities: international consulting and investment com-

pany whose core competencies are the sustainable,

successful, and efficient implementation of complex

projects. The regional headquarters in Vienna and Boston

(USA) assist firms worldwide in the successful implemen-

tation of M&A transactions, reorganizations, financial

restructuring, post-merger integrations, and focused

performance improvement initiatives. In selected cases

asp. group also acts as investor pursuing an active share-

holder approach


Details:Graben 10 / A-1010 Vienna

Tel.: 0043 (0)1 / 512 5000 61

Fax: 0043 (0)1 / 512 5000 50


Internet: www.asp-consulting.com

Contact: Mr. Alexander Behensky

Austroplan Austrian Engineering GmbH

Activities: Consulting, engineering and project manage-

ment for the cement, steel and mining industry. Engineer-

ing and supply of plants for LPG cylinders, medical dis-

posables and pharmaceutical products

Special Products: Cement consulting and upgrading of

cement plants, construction management and site super-

vision, consulting services for bio fuels and basaltic fibre


Details:Storchengasse 1 / A-1150 Vienna

Tel.: 0043 (0)1 / 89 189 - 0

Fax: 0043 (0)1 / 89 189 - 299


Internet: www.austroplan.at

Contact: Dr. Anton Eichinger (Managing Director)

Activities: Local traffic planning & planning for railway

infrastructure

Details:Feldgasse 17 / A-2733 Grünbach

Tel.: 0043 (0)2637 / 3391

Fax: 0043 (01) 257 343923


Contact: Dr. Heinz Petzmann

Bags Holding GesmbH

Activities: Whole sale and trading

Special Products: Building materials, agricultural

products, fertilizers

Arabic Countries where active: Libya, Egypt, Sudan,

Syria, Saudi Arabia, UAE, Kuwait

Details:Schottenring 16/164 / A-1010 Vienna

Tel.: 0043 (0)1 / 516 388 - 0

Fax: 0043 (0)1 / 516 388 - 99


Internet: www.bags-group.com

Contact: Mr. Amer Auf

AVT-ARGE Regionale Verkehrs- planung und Transportwirtschaft, Technisches Büro für Raumplanung

35

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SERVICES

Bureau Veritas Austria GmbH

Activities: Inspections for industry and marine, general

services and international trade, verifications of conform-

ity, inspections for government contracts

Arabic Countries where active: Algeria, Libya, Lebanon,

Kuwait, UAE, Iraq, Iran, Saudi Arabia, Sudan

Details:Apostelgasse 25-27 / A-1030 Vienna

Tel.: 0043 (0)1 / 713 1568-0

Fax: 0043 (0)1 / 713 1568-30


Internet: www.bureauveritas.com

Contact: Mr. Rudolf Pichler

Activities: Finance, law enforcement, intelligence

community, legal services, foreign affairs, journalism,

academia

Details:Beatrixgasse 32 / A-1030 Vienna

Tel.: 0043 (0)1 / 71605-900


Internet: www.cin-consult.com

Contact: Mr. Thomas Havranek

C & I Leasing GmbH

Activities: Financing of real estate, furniture and motor

vehicles

Details:Maderstr. 1 / A-1040 Vienna

Tel.: 0043 (0)1 / 505 87 87-0

Fax: 0043 (0)1 / 505 91 91


Internet: www.c-i.at

Contact: Mr. R. Hummelbrunner

Activities: Consulting, training and breeding of sports

horses

Details:Immendorf Nr. 4 / A-2022

Tel.: 0043 (0)2951 / 8209

Fax: 0043 (0)2951 / 8209 - 4


Internet: www.immendorf.at

Contact: Ms. Anna Malenka Freudenthal

C&T Sportpferde Freudenthal

CIN Consult Unternehmensberatung GmbH

36

SERVICES

Club of Trade Delegates (Club der Handelsräte)

Activities: Contact platform between accredited trade

and economic delegates and the Austrian business and

political community

Arabic Countries where active: Available to accredited

trade and economic delegates of all countries to seek

mutual contact and contact with trade and commercial

organisations at diplomatic level

Details:Opernring 3 / A-1010 Vienna

Tel.: 0043 (0)1 / 588 58 56

Fax: 0043 (0)1 / 586 86 59


Internet: www.handelsraete.at

Contact: Mr. Ron Willis, C.Eng.(mech.)

Das House – Immobilienentwicklungs und -verwertungs GmbH

Activities: Real estate developers

Details:Dr. Karl Lueger Platz 5, 5. Stock, A-1010 Vienna

Tel.: 0043 (0)1 / 512 85 67

Fax: 0043 (0)2262 / 624 82


Internet: www.dashouse.at

Contact: Mr. Karl-Heinz Wingelmaier

Activities: Rental of apartments and flats

Details:Wilhelminenstr. 181 / A-1160 Vienna

Tel.: 0043 (0)664 / 2553897

Fax: 0043 (0)1 / 486 3174

E-Mail: N/A

Internet: N/A

Contact: Dr. André D’Aron

DIET – Développement Industriel Enfidha Tunisie: ENFIDHA INDUSTRIAL PARK

Activities: Provision of land, infrastructure, industrial

environment

Special Products: Mechanical offices for support, gas,

electricity, internet available, hotels, apartments, restau-

rants, hospitals in the vicinity

Arabic Countries where active: Tunisia

Details:Immeuble Maghrebia, Tour B, Boulevard 7 Novembre

1987 / 2035 Tunis-Carthage, TUNISIA

Tel.: 00216 / 71 / 940960 or -885

Fax: 00216 / 71 / 942707


Internet: www.enfidha.net

Contact: Mr. Isnardo Carta

Dr. D’Aron

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SERVICES

Activities: Airline

Arabic Countries where active: Egypt (headquarters in

Cairo), Algeria, Bahrain, Jordan, Kuwait, Lebanon, Libya,

Morocco, Oman, Qatar, Saudi Arabia, Sudan, Syria,

Tunisia, UAE, Yemen


Tel.: 0043 (0)1 / 587 45 32

Fax: 0043 (0)1 / 587 45 32 - 20


Internet: http://www.egyptair.com/

Contact: Ms. Eva Kadi

Ehrlich: Mag. Daniela Ehrlich, Rechtsanwältin

Activities: Legal services

Special Products: Focus on Corporate & Commercial

Law, Banking & Capital Markets Law, European Commu-

nity Law, Telecom & IT & E-commerce law, Real Estate,

Litigation & Arbitration, Austrian Civil Law and Unfair

Competition Law

Details:Helferstorferstr. 5/8 / A-1010 Vienna

Tel.: 0043 (0)1 / 535 40 55

Fax: 0043 (0)1 / 535 40 55 - 11


Internet: www.beplaw.com

Contact: Ms. Daniela Ehrlich

Activities: Transport, airline company



Saudi Arabia, Sudan, Syria, Tunisia, UAE, Yemen

Details:Mahlerstr. 12 / Stg. 6 / A-1010 Vienna

Tel.: 0043 (0)1 / 532 60 28

Fax: 0043 (0)1 / 533 68 87


Internet: www.emirates.com

Contact: Mr. Anton Bily (Sales Manager Austria)

Mr. Robert Posch (Sales Executive)

Activities: Banking Services

Special Products: Trade Finance, Corporate Banking,

Treasury Services


Iraq, Jordan, Lebanon, Morocco, Oman, Palestine, Qatar,

Saudi Arabia, Syria, Tunisia, UAE

Details:Mahlerstr. 7 / Top 15/16 / A-1010 Vienna

Tel.: 0043 (0)1 / 513 42 40

Fax: 0043 (0)1 / 513 42 40 - 9


Internet: www.eabplc.com

Contact: Mr. Nadim Khalili

Europe Arab Bank plc

Egypt Air

38

Emirates Airlines

SERVICES

Activities: Real Estate & Relocation Agency specializing

in the sale and rental of high quality properties in both the

Austrian and international market

Special Products: Relocation services to people moving

to Vienna and personnel who are working for the UN,

International Organisations, Embassies and International

Companies

Details:Graben 7/8 / A-1010 Vienna

Tel.: 0043 (0)1 / 328 88 18

Fax: 0043 (0)1 / 328 88 18 – 60


Internet: www.expat-consulting.com

Contact: Mr. Aslan Kurtaran

Activities: Legal advice

Special Products: Focusing on European Union Law,

Competition Law, Antitrust & Regulatory Law, Franchise &

Distribution Law, Intellectual Property, Corporate Law,

Real Estate & Building Law, Civil & Contract Law

Details:Annagasse 6 / A-1010 Vienna

Tel.: 0043 (0)1 / 512 33 93

Fax: 0043 (0)1 / 512 33 93 -50


Internet: www.freygner.com

Contact: Dr. Sylvia Freygner

Gentics Software GmbH

Activities: Software development

Special Products: Standard software solutions for

Enterprise Web Content Management and Enterprise

portal solutions

Details:Gonzagagasse 11/25 / A-1010 Vienna

Tel.: 0043 (0)1 / 71 09 904 - 0

Fax: 0043 (0)1 / 71 09 904 - 4


Internet: www.gentics.com

Contact: Mr. Alexander Szlezak

Activities: Earth observation satellite data distributor,

digital image processing, geographic information sys-

tems, consulting, Applied research & development, photo

library, production of images, satellite image maps, satel-

lite image books, digital satellite image atlases on CD-

Rom, education material

Special Products: Satellite Image Atlas of the Republic of

Yemen (1st edition 2010)

Arabic Countries where active: Syria, Iraq, Yemen, and

Saudi Arabia

Details:Schönbrunnerstr. 13 / A-1050 Vienna

Tel.: 0043 (0) 662 458115

Fax: 0043 (0) 662 458115-124


Internet: www.geospace.at

Contact: Mr. Johann Stegbuchner CEO

Expat Consulting

39

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FREYGNER Rechtsanwalt GmbH

Geospace GmbH

SERVICES

Gesellschaft Österreichisch- Arabische Ärzte und Apotheker

Activities: Non-profit organization, aims to deepen cul-

tural relations and facilitate information exchange be-

tween Austria and Arab countries in the fields of medicine

and pharmacology - Services

Details:Hohe Warte 33 / A-1190 Vienna

Tel.: 0043 (0)1 / 3188655

Fax: 0043 (0)1 / 3188655


Internet: www.austro-arabdoc.org/

Contact: Dr. Fouad Harik

Activities: Privat Clinic

Special Products: Gynaecology and obstetrics, surgery,

internal medicine, infertility treatment centre, prenatal

diagnostics, X-ray and diagnostic imaging department,

medical laboratory, institute for physical medicine, burn-

out care centre, rooms equipped with wireless broadband

Internet

Details:Lazarettgasse 16-18 / A-1091 Vienna

Tel.: 0043 (0)1 / 40 111 - 510

Fax: 0043 (0)1 / 40 111 - 505


Internet: www.goldenes-kreuz.at

Contact: Ms. Cornelia Böhm (CEO)

Activities: Gourmet consulting & trade

Details:Kantgasse 3/2 / A-1010 Vienna

Tel.: 0043 (0)1 / 523 07 87

Fax: 0043 (0)1 / 526 65 10


Internet: www.aoc-genuss.at

Contact: Mr. Peter Gallhofer

Grand Hotel Vienna

Activities: Offers rooms for accommodation,

conferences, dining

Special Products: Luxuriously decorated rooms and

suites, “Grand Café”, Japanese speciality restaurant, rose

garden, ballroom etc.


Tel.: 0043 (0)1 / 515 - 800

Fax: 0043 (0)1 / 515 - 1313


Internet: www.grandhotelVienna.com

Contact: Mr. Karim Jalloul

Goldenes Kreuz Privatklinik BetriebsGesmbH

40

GourmetConsult

SERVICES

Activities: Consulting services

Special Products: Tax Counselling, Business Consulting,

Promotion, Expansion Consulting, Medical Jobs


Details:Pestalozzigasse 3 / A-1010 Vienna

Tel.: 0043 (0)1 / 310 6010

Fax: 0043 (0)1 / 310 6010 - 6


Internet: www.hellerconsult.com

Contact: Ms. Elisabeth Heller

Huber: Dr. Max Huber GmbH

Activities: Real estate, financial services, property

management, market research, property sale and rent


Tel.: 0043 (0)1 / 40 24 74 70

Fax: 0043 (0)1 / 40 69 589


Internet: www.dmh.co.at

Contact: Dr. Max Huber

Hulla & Co. Human Dynamics KG

Activities: Consultancy services for economic, good

governance, institutional development and sectoral policy

issues

Details:Lothringerstr. 16 / A-1030 Vienna

Tel.: 0043 (0)1 / 402 50 20

Fax: 0043 (0)1 / 402 50 20 - 20


Internet: www.humandynamics.org

Contact: Mr. Eric Heldring

Activities: Consultation on:

trade finance, letters of credit, bank guarantees

helps with anti-corruption and counterfeiting

tactics

-

tracts: Incoterms, rules for letters of credit and bank

guarantees etc.


Details:Wiedner Hauptstr. 73 / A-1040 Vienna

Tel.: 0043 (0)1 / 50 105 37 - 16

Fax: 0043 (0)1 / 50 105 37 - 03


Internet: www.icc-austria.org

Contact: Dr. Max Burger-Scheidlin

Heller Consult Tax & Business Solutions GmbH

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ICC: Austria International Chamber of Commerce

SERVICES

IIFC Industrial & Investment Financing Consulting GmbH

Activities: Specializes in the industrial & food field,

offering financing & consulting services

Details:Weimarer Str. 93/5 / A-1190 Vienna

Tel.: 0043 (0)1 / 368 42 42

Fax: 0043 (0)1 / 368 42 42 42


Contact: Dr. Farrokh Sharif

ILF – Beratende Ingenieure ZT Ges.m.b.H

Activities: Oil & gas, water & environment, civil

engineering & infrastructure, energy

Special Products: Consultancy, design and planning,

procurement, construction supervision, project manage-

ment, start-up

Arabic Countries where active: Kuwait, Libya, Saudi

Arabia, UAE

Details:Hainburgerstr. 31/2 / A-1030 Vienna

Tel.: 0043 (0)713 / 92 32 - 361

Fax: 0043 (0)713 / 92 32 - 444


Internet: www.ilf.com

Contact: Ms. Jutta Strolz

Activities: Hotel business

Special Products: Hotel Imperial (built as a private palace

and has been hosting heads of state, kings and queens,

stars and artists since 1873), Hotel Bristol (next to the

Vienna State Opera; stands for authentic Viennese hospi-

tality and personal service)


Tel.: 0043 (0)1 / 50 110 - 0

Fax: 0043 (0)1 / 50 110 - 410


Internet: www.hotelimperialvienna.com/

Contact: Mr. Oscar DelCampo

Activities: Close and executive protection, security

management, risk & threat analysis, crisis negotiations,

investigations and individual security training

Special Products: Special security solutions for clients in

political, diplomatic and economic spheres worldwidet


Jordan, Kuwait, Oman, Qatar, Saudi Arabia, Tunisia, UAE

(other Arabic countries upon request)

Details:Josef Hesoun Str. 9/3/M20 / A-2345 Brunn am Gebirge

Tel.: 0043 (0)676 / 595 87 61

Fax: 0043 (0)2236 / 864 225


Internet: www.ipsagency.org

Contact: Mr. Sascha Steurer (CEO)

IPSA – International Protect & Security Agency e.U.

Imperial Hotels Austria AG

42

SERVICES

Islamisches Informations- und Dokumentationszentrum Österreich (IIDZ – Austria)

Activities: Islamic Information and Documentation Center

in Austria

Special Products: Issuance of Halal certification


Details:Theodor-Körner-Str. 10a, A-4050 Traun

Sterngasse 3 / A-1010 Vienna

Tel.: 0043 (0)699 / 884 658 04

Fax: 0043 (0)7229 / 72 364


Internet: www.halal-iidz.eu

Contact: Mr. Günther Ahmed Rusznak

Lambert Eversheds/ Lambert Rechtsanwälte OG

Activities: Legal Services, covering a wide range of fields

(includes Banking and Insurance, Competition and Pat-

ents, taxes, product regulations, technology, real estate,

construction and general trade and business)

Special Products: International Practice Groups (Inter-

national Services)


Tel.: 0043 (0)1 / 516 20 - 120

Fax: 0043 (0)1 / 516 20 - 20


Internet: www.lamberteversheds.com

Contact: Mr. Peter Lambert

Limousinenservice Schafek GmbH

Activities: VIP Limousine service, omnibus services

Special Products: Multi-lingual (including Arabic) speak-

ing chauffeurs and specialized in all forms of transport

services, for business and private clients

Details:Lechnerstr. 2-4/6/72 / A-1030 Vienna

Tel.: 0043 (0)699 / 19 67 69 67

Fax: 0043 (0)1 / 9676967


Internet: www.vienna-limousinenservice.com

Contact: Mr. Shahin Schafek

Activities: Trade & Services, Travel & Tourism, Hotel &

Resorts, Industry

Arabic Countries where active: Kuwait, Libya, Saudi

Arabia, UAE

Details:Baramkeh- Amin Rihani Str., Transtour Bldg. 4th /

P.O.Box 3050, Damascus

Tel.: 00963 11 223 4000

Fax: 00963 11 223 5004


Internet: www.nahas-group.sy

Contact: Mr. Shukri Shaikh Ali

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Nahas Enterprises Group

SERVICES

OBERBANK-AG

Activities: Financial services, Central European regional

bank with more than 130 branches covering Austria’s

most industrialized regions, Bavaria (South Germany),

Czech Republic, Slovakia and Hungary. Correspondent

network comprises more than 2,500 partners

Special Products: Following a universal banking philoso-

phy Oberbank’s activities include among others: interna-

tional business, loans, deposits, securities, leasing and

derivatives

Arabic Countries where active: Cross-border activities

for corporates and individuals with almost all Arabic

regions, coverage throughout Oberbank’s correspondent

banking network

Details:Untere Donaulände 28 / A-4020 Linz

Tel.: 0043 (0)732 / 78 02 2500

Fax: 0043 (0)732 / 77 39 80


Internet: www.oberbank.at

Contact: Dr. Manfred Weissmann

Activities: Known in English as the Austrian Trade Asso-

ciation, it connects its members to important representa-

tives of media, economy, science, and politics.

It can connect its members to each other and solve im-

portant problems that members have, among other

services

Special Products: The economic journal “Österreichs

Wirtschaft”

Details:Eschenbachgasse 11 / A-1010 Vienna

Tel.: 0043 (0)1 / 587 36 33

Fax: 0043 (0)1 / 587 01 92


Internet: www.gewerbeverein.at

Contact: Mr. Stefan Blahut

Activities: Printing and making high security documents

(passports, identity cards, drivers license, visa & resi-

dence permits), systems integration and installing person-

alisation centres

Special Products: e-government® in Austria, providing

services for the Austrian government (personalizing high

security documents)

Details:Tenschertstr. 7 / A-1239 Vienna

Tel.: 0043 (0)1 / 206 66 - 0

Fax: 0043 (0)1 / 206 66 - 100


Internet: www.staatsdruckerei.at

Contact: Prof. Reinhart Gausterer

Activities: Contributes to the electro technical field regu-

lations, deals with problems and issues of application of

electrical energy

Details:Eschenbachgasse 9 / A-1010 Vienna

Tel.: 0043 (0)1 / 587 63 73

Fax: 0043 (0)1 / 370 58 06 370


Internet: www.ove.at

Contact: Mr. Peter Reichel

ÖGV – Österreichischer Gewerbeverein

44

Österreichische Staatsdruckerei GmbH

OVE: Austrian Electrotechnical Association

SERVICES

Activities: Offline and digital communication

Special Products: Brand and marketing consultancy,

social media, mobile marketing, online research

Arabic Countries where active: Bahrain, Kuwait,

Lebanon, Oman, Palestine, Qatar, Saudi Arabia, Syria,

UAE

Details:PO Box 502865

Al Sufouh Complex 806 & 807 / Dubai Media City, Dubai -

United Arab Emirates

Tel.: 00971 (4) 439 34 04 -101

Fax: 00971 (4) 439 34 03


Internet: www.plan-net.ae

Contact: Mr. Oliver Zuegel

Premium Health Solutions GmbH

Activities: Offers medical services, check up and preven-

tive programs, intensive care and recovery programs,

rehabilitation services, access to high quality clinics and

spas

Special Products: Comprehensive check-up programs in

Vienna and Zell/See area

Details:Operngasse 2 / A-1010 Vienna

Tel.: 0043 (0)1 / 516 51 73

Fax: 0043 (0)1 / 513 44 24


Internet: www.phs-austria.com

Contact: Ms. Sonata Neumüller

Activities: Trading with importers focused on Arabic

markets

Special Products: Trading, offering and producing of

goods, raw-materials and other trade-business with

European quality and know-how; excellent contact and

negotiation management between European and Arab

producers, merchants and distributors

Details:Darwingasse 9/5 / A-1020 Vienna

Tel.: 0043 (0)1 / 890 20 27

Fax: 0043 (0)1 / 890 20 27 – 15


Internet: www.proficenter-vienna.com

Contact: Mr. Nasr Samir

Activities: Financial Services

Special Products: Financing, treasury & markets, consult-

ing & services, foreign trade, capital markets, equity &

bonds financing, electronic banking solutions, cash man-

agement, fund registration Austria, investment banking


Iraq, Jordan, Kuwait, Lebanon, Libya, Mauritania,

Morocco, Oman, Qatar, Saudi Arabia, Sudan, Syria,

Tunisia, UAE, Yemen

Details:Am Stadtpark 9 / A-1030 Vienna

Tel.: 0043 (0)1 / 71707 - 1879

Fax: 0043 (0)1 / 71707 - 2388


Internet: www.rzb.at

Contact: Mr. Walter Rothensteiner

Plan.NET Middle East

45

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Profi Personalvermittlung GmbH

Raiffeisen Zentralbank Austria AG

SERVICES

Activities: Legal Services

Special Products: Deals with Commercial, Civil, Busi-

ness Law, Immigration Law, among others

Details:Goldschmiedgasse 8 / A-1010 Vienna

Tel.: 0043 (0)1 / 533 52 56

Fax: 0043 (0)1 / 533 01 09


Internet: www.rae-marschall-heinz.com

Contact: Renua Chhadeh

Activities: IT Consulting, software development and

Service

Details:Am Concorde Business Park F / A-2320 Schwechat

Tel.: 0043 (0)664 / 608 444 1036

Fax: 0043 (0)664 / 608 444 1036


Internet: www.rise-world.com

Contact: Ms. Sana El-Kebir

Activities: Hotels (in Vienna and Salzburg), awarded

restaurants, Cafés, luxury products Special Products: Spa, Deluxe and Top Deluxe Rooms &

Suites, Conferences & Banquets, Original Sacher-Torte

Details: Philharmonikerst. 4 / A-1010 Vienna

Tel.: 0043 (0)1 / 514 56 - 809

Fax: 0043 (0)1 / 514 56 - 810


Internet: www.sacher.com

Contact: Mr. Andreas Glück

Activities: Cham Holdings arm for the development of

and investment in energy, utilities, industry and

infrastructure sectors Arabic Countries where active: Syria

Details:PO Box: 9525

Ashrafiyat Sahnaya, Daraa Highway, Shweifat School

Interchange, Mazzeh, Damascus, SYRIA

Tel.: 00963 / 11 / 673 1278

Fax: 00963 / 11 / 673 1279


Internet: www.chamholding.sy/sana.html

Contact: Mr. Mahmoud A. Al-Khoshman

Rechtsanwälte: Dr. Franz Marschall & Mag. Rene Heinz

46

RISE – Research Industrial SystemsEngineering GmbH SANA Investment Co.

Sacher Hotels BetriebsgesmbH.

SERVICES

SBG – AlMarasem – BTC

Activities: Constructions, telecommunications


Details:PO Box 36729

Yafoor, Palmville Resort, Villa No 10 / Damascus, SYRIA

Tel.: 00963 / 11 / 391 - 00 01

Fax: 00963 / 11 / 391 - 90 80


Internet: N/A

Contact: Mr. Omar Choura

Activities: IT Consulting services

Special Products: IT-related Quality Assurance (Test

Management, Requirement Management)


Details:Wolfsaugasse 9 / A-1200 Vienna

Tel.: 0043 (0)1 / 350 68 84

Fax: 0043 (0)1 / 332 53 08


Internet: www.drschneider.eu

Contact: Dr. Wolfgang Johann Schneider

Activities: Sales, Projects and Consulting Services

Special Products: Marketing and sales for diverse

projects, project development and management, tailored

consulting services

Details:Am Bachlberg 32 / A-4040 Linz

Tel.: 0043 (0)699 / 177 130 91

Fax: 0043 (0)732 / 713 091


Internet: www.klaus-prexl-spc.at

Contact: Mr. Klaus Prexl

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Schneider: Dr. Wolfgang J. Schneider GmbH

SQZ Software Engineering & Qualitätsmanagement Zopf

Activities: Consulting and Coaching in Software Engi-

neering, Development Processes, Project Management

and Quality Management

Details:Burgstall 30 / A-3034 Maria Anzbach

Tel.: 0043 (0)676 / 90 600 15

Fax: 0043 (0)676 / 90 600 15


Internet: www.sqz.at

Contact: Mr. Siegfried Zopf

SPC (K.Prexl Sales-Projects-Consulting)

SERVICES

SWZT Chartered Consultants GmbH

Activities: Development of real estate projects

Details:Franz Josefs-Kai 21/14 / A-1010 Vienna

Tel.: 0043 (0)1 / 532 2791

Fax: 0043 (0)1 / 535 4974


Internet: www.swzt.at

Contact: Mr. Moussa Hamzo

Activities: Importing & exporting all kinds of commodities

(sugar, grains, oil, rice), marine services, ship owner,

transportation, real state developments, Middle East

factories for sugar, Middle East factories for oil and feed

meal, Middle East factories for colugos & starch, grand

mills, samba ice cream, Transmall Trade Complex


Details:PO Box 195

Hamra Str. 9, Akhras Bldg., Homs, SYRIA

Tel.: 00963 / 31 / 24 75 500

Fax: 00963 / 31 / 24 75 095


Internet: www.akhrasgroup.com

Contact: Mr. Tarif Akhras

Activities: Technical consulting and sales of industrial

manufacturing plants and energy systems

Arabic Countries where active: Bahrain, Qatar

Details:Simmeringer Hauptstr. 24 / A-1110 Vienna

Tel.: 0043 (0) 664 637 2521


Internet: www.talpa.at

Contact: Mr. Herbert Suppan

Activities: Mangagement consultancy, process

management, payment processing, digital signatures

Details:Schottenring 16, A-1010 Vienna

Tel.: 0043 (0)1 / 535 0057-0

Fax: 0043 (0)1 / 535 0057-13


Internet: www.tecs.at

Contact: Mr. Fazlollah Rostamian

TAG – T. Akhras Group

48

TECS Telecommunication & E-Commerce Solutions GmbH

Talpa GmbH

SERVICES

TomDive

Vamed Engineering GmbH & Co KG

Activities: Consulting, engineering, contracting and

logistics

Special Products: Research facilities, hospital infrastruc-

ture plants

Arabic Countries where active: Iraq, Jordan, Libya,

Oman, Qatar, Saudi Arabia, Syria

Details:Sterngasse 5 / A-1232 Vienna

Tel.: 0043 (0)1 / 60 127 - 0

Fax: 0043 (0)1 / 60 127 - 292


Internet: www.vamed.com

Contact: Mr. Hisham Tamaa

Activities: Consulting, financial promotion, marketing

Details:Ebendorferstr. 2 / A-1010 Vienna

Tel.: 0043 (0)1 / 4000 861 - 99

Fax: 0043 (0)1 / 4000 861 - 88


Internet: www.wirtschaftsagentur.at

Contact: Mr. Rupert Bittmann

Activities: Education services

Special Products: Career development center, MBA

programs, on-line programs

Arabic Countries where active: Bahrain, Jordan,

Kuwait, Lebanon, Oman, Qatar, UAE

Details:Berchtoldgasse 1 / A-1220 Vienna

Tel.: 0043 (0)1 / 269 92 93 - 0

Fax: 0043 (0)1 / 269 92 93 - 13


Internet: www.webster.ac.at

Contact: Ms. Teresa Sedlar

Vienna Business Agency

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Activities: High Performance Diving

Special Products: 1st Class private training; complete

recreational diving program of PADI, the worlds leading

diving association; technical diving program of DSAT, up

to instructor level

Details:Erlachgasse 113 / A-1100 Vienna

Tel.: 0043 (0)660 / 38 76 731


Internet: www.tomdive.com

Contact: Mr. Thomas Lederberger

Webster University

SERVICES

50

X-Plus-Management GmbH

Activities: International Consulting services for

companies

Special Products: Advising tools: Advice and handling to

managements & corporations in IT, marketing, logistics,

foreign trade, technologies, HRM

Arabic Countries where active: Bahrain, Kuwait, Oman,

Qatar, Saudi Arabia, UAE

Details:Registered: A-5204 Strasswalchen (Salzburg)

Corp. Headoffice: Lederergasse 6 / A-5020 Salzburg

Tel.: 0043 / 662-881800

Fax: 0043 / 662-881888


Internet: www.x-plus-management.com

Contact: Mr. Stephan Ohms (Managing Director)

SERVICES

Community of Piringsdorf

MUNICIPALITIES

Piringsdorf is a municipality that is located in the province of Burgenland, in the nation of Austria, in the middle of Europe.

The municipality is famous for its mineral water springs – in 1982 the government of Burgenland licensed the following

therapeutical uses and medical indications for the use the springs: drinking cures and spas. The quality of the water is

excellent and it can be used for drinking, however it is not only limited to such use. Among the many medical indications

the water is qualified to be used for are stomach troubles, therapy after bypass operations, and many other uses. The

community of Piringsdorf, the owner of the springs would like to export its water to the Arab world as drinkable water as

well as for medical use.

Details:Gemeinde Piringsdorf

Bundesstr. 14 / 7371 Piringsdorf

Tel.: 0043 (0)2616 / 87 13

Fax: 0043 (0)2616 / 88 37


Internet: www.piringsdorf.at

Contact: Mr. Stefan Hauser (Mayor)

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COMPANY CLASSIFICATION PAGE

Abiothrin HandelsgmbH CHEMICAL PRODUCTS 7

a-consult GmbH SERVICES 33

Accès Alpintechnik Salzburg SERVICES 33

Architekt Achtsnit & Achtsnit SERVICES 33

ADCON Telemetry GmbH OTHER MANUFACTURED GOODS 26

AGT Management & Engineering AG FUEL AND ENERGY 19

AKTIVSAUERSTOFF GmbH CHEMICAL PRODUCTS 7

Al Mashreq Investment Fund SERVICES 33

Al Matin Group for trade and industry CHEMICAL PRODUCTS 8

ALPHA – Aleppo Pharmaceutical Industries CHEMICAL PRODUCTS 8

Alshaya Retail GmbH SERVICES 34

Alu König Stahl OTHER MANUFACTURED GOODS 26

ALVETRA u. WERFFT AG NUTRITION 24

Aqua Engineering GesmbH OTHER MANUFACTURED GOODS 26

Arabital Shipping SERVICES 34

ARACON Consulting GmbH SERVICES 34

Asiah Group Ltd SERVICES 34

asp.consulting GmbH SERVICES 35

Atelier Mag. Art. Herger Helga CULTURE AND ART 12

Austroplan Austrian Engineering GmbH SERVICES 35

AVT SERVICES 35

BACKHAUSEN INTERIOR DESIGN GMBH OTHER MANUFACTURED GOODS 26

BAGS HOLDING GESMBH SERVICES 35

BETA HANDELSGESELLSCHAFT M.B.H. OTHER MANUFACTURED GOODS 27

BEV-Group NUTRITION 24

Biolachs NUTRITION 24

Böhler International GmbH MANUFACTURED GOODS 20

Borealis AG CHEMICAL PRODUCTS 8

Bureau Veritas Austria GmbH SERVICES 36

Chemson Polymere-Additive AG CHEMICAL PRODUCTS 8

Christian Maschek Schmuck OTHER MANUFACTURED GOODS 27

CIN Consult Unternehmensberatung GmbH SERVICES 36

C & I Leasing GmbH SERVICES 36

C&T Sportpferde Freudenthal SERVICES 36

Club of Trade Delegates (Club der Handelsräte) SERVICES 37

Das House – Immobilienentwicklungs und -verwertungs GmbH

SERVICES 37

Dr. D’Aron SERVICES 37

DCM DECOmetal GmbH RAW MATERIALS 32

DIET – Développement Industriel Enfidha Tunisie: ENFIDHA INDUSTRIAL PARK

SERVICES 37

DCC – Doppelmayr Cable Car GmbH & Co KG ENGINES, VEHICLES 14

Dotzauer Kristallleuchten ProduktionsGmbH OTHER MANUFACTURED GOODS 27

D. Swarovski & Co. OTHER MANUFACTURED GOODS 27

EBEWE Pharma Ges.m.b.H. Nfg.KG CHEMICAL PRODUCTS 9

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Egypt Air SERVICES 38

Ehrlich: Mag. Daniela Ehrlich, Rechtsanwältin SERVICES 38

Elin Wasserwerkstechnik Gesellschaft m.b.H.

ENGINES, VEHICLES 14

F. J. Elsner Trading & Co MANUFACTURED GOODS 20

Emirates Airlines SERVICES 38

EOOS GmbH MANUFACTURED GOODS 20

Europe Arab Bank plc SERVICES 38

EVER Neuro Pharma GmbH CHEMICAL PRODUCTS 9

Expat Consulting SERVICES 39

Fritz Baumaschinen GmbH & Co KG ENGINES, VEHICLES 14

Frey Wille GmbH & Co KG OTHER MANUFACTURED GOODS 28

Gabriel Chemie GmbH CHEMICAL PRODUCTS 9

G.L. Pharma CHEMICAL PRODUCTS 9

GE. Energy Jenbacher GmbH & Co OHG ENGINES, VEHICLES 14

Gebrüder Woerle GesmbH. NUTRITION 24

Gentics Software GmbH SERVICES 39

Geosat Technology Limited FUEL AND ENERGY 19

Geospace GmbH SERVICES 39

Gesellschaft Österreichisch-Arabische Ärzte und Apotheker

SERVICES 40

Ghraoui Group NUTRITION 25

GLS Tanks GmbH OTHER MANUFACTURED GOODS 28

Goldenes Kreuz Privatklinik BetriebsGesmbH SERVICES 40

GourmetConsult SERVICES 40

Grand Hotel Vienna SERVICES 40

GREINER BIO-ONE GmbH CHEMICAL PRODUCTS 10

Gresam HandelsgesmbH NUTRITION 25

Hasenkopf OTHER MANUFACTURED GOODS 28

Heller Consult Tax & Business Solutions GmbH SERVICES 41

Herz Austria GmbH OTHER MANUFACTURED GOODS 28

Mag. Hoeveler & Co GmbH CHEMICAL PRODUCTS 10

Hörbiger Kompressortechnik GmbH ENGINES, VEHICLES 15

HUBER: DR. MAX HUBER GMBH SERVICES 41

HULLA & CO. HUMAN DYNAMICS KG SERVICES 41

IASON GMBH CHEMICAL PRODUCTS 10

ICC: AUSTRIA INTERNATIONAL CHAMBER OF COMMERCE

SERVICES 41

IIFC INDUSTRIAL & INVESTMENT FINANCING CONSULTING GMBH

SERVICES 42

ILF – BERATENDE INGENIEURE ZT GES.M.B.H SERVICES 42

IMET HANDELSGESELLSCHAFT MANUFACTURED GOODS 22

Ing. Pablo Spitzer CULTURE AND ART 12

Innovation und Technik GmbH ENGINES, VEHICLES 15

ISAB Industrieanlagenbau Ges.m.b.H. ENGINES, VEHICLES 15

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Islamisches Informations- und Dokumentations-zentrum Österreich (IIDZ – Austria)

SERVICES 43

IPSA – International Protect & Security Agency e.U. SERVICES 42

J.T. Kalmar GmbH OTHER MANUFACTURED GOODS 29

Katharina Hallal GmbH CHEMICAL PRODUCTS 10

Khalil Sara Establishment MANUFACTURED GOODS 21

Khwanda Group ENGINES, VEHICLES 15

Lambert Eversheds/ Lambert Rechtsanwälte OG

SERVICES 43

Leitz GesmbH & Co KG ENGINES, VEHICLES 16

LIEBHERR-Werk Nenzing GmbH ENGINES, VEHICLES 16

Limousinenservice Schafek GmbH SERVICES 43

Mayr-Melnhof Timber Trading GmbH RAW MATERIALS 32

Die Marmeladen-Manufaktur NUTRITION 25

Merck KGaA & Co. Werk Spittal CHEMICAL PRODUCTS 11

Mikro-Mineral GMBH CHEMICAL PRODUCTS 11

MOBIL BAUSTOFFE GmbH OTHER MANUFACTURED GOODS 29

Modern Life Handels GmbH OTHER MANUFACTURED GOODS 29

Mondi Business Paper Sales GmbH MANUFACTURED GOODS 21

Nahas Enterprises Group SERVICES 43

Neue Wiener Porzellanmanufaktur AUGARTEN GmbH

OTHER MANUFACTURED GOODS 29

OBERBANK-AG SERVICES 44

ÖGV – Österreichischer Gewerbeverein SERVICES 44

Österr. Doka Schalungs-Gerüstbautechnik GmbH. OTHER MANUFACTURED GOODS 30

Österreichische Staatsdruckerei GmbH SERVICES 44

Omicron Electronics GmbH ENGINES, VEHICLES 16

OMV Aktiengesellschaft FUEL AND ENERGY 19

Onkotec GmbH CHEMICAL PRODUCTS 11

OVE: Austrian Electrotechnical Association SERVICES 44

OVOTHERM International HandelsGmbH MANUFACTURED GOODS 21

Papierfabrik Wattens GmbH & Co KG MANUFACTURED GOODS 21

Plan.NET Middle East SERVICES 45

Plasser & Theurer Export von Bahnbaumaschinen GmbH

ENGINES, VEHICLES 16

PORR – ALLGEMEINE BAUGESELLSCHAFT – A. PORR AG

30

POWER HORSE Energy Drinks GmbH DRINKS AND TOBACCO 13

Premium Health Solutions GmbH SERVICES 45

Profi Personalvermittlung GmbH SERVICES 45

Raiffeisen Zentralbank Austria AG SERVICES 45

Ramses Zwei GmbH MANUFACTURED GOODS 22

Rauch Fruchtsäfte GmbH & Co OG DRINKS AND TOBACCO 13

Red Bull GmbH DRINKS AND TOBACCO 13

Rechtsanwälte: Dr. Franz Marschall & Mag. Rene Heinz

SERVICES 46

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RHI AG MANUFACTURED GOODS 22

RINGER KG OTHER MANUFACTURED GOODS 30

RISE – Research Industrial SystemsEngineering GmbH

SERVICES 46

ROXCEL HandelsgesmbH MANUFACTURED GOODS 22

Sacher Hotels BetriebsgesmbH. SERVICES 46

SAG Aluminium Lend GmbH&Co.KG RAW MATERIALS 32

SANA Investment Co. SERVICES 46

Sandoz GmbH CHEMICAL PRODUCTS 11

SBG – AlMarasem – BTC SERVICES 47

Schneider: Dr. Wolfgang J. Schneider GmbH SERVICES 47

Schöler & Co GmbH OTHER MANUFACTURED GOODS 30

Schreiber & Rupp GesmbH NUTRITION 25

Science & Research Marketing GmbH OTHER MANUFACTURED GOODS 31

Sitte Vienna OTHER MANUFACTURED GOODS 31

SPC (K.Prexl Sales-Projects-Consulting) SERVICES 47

Spitzwieser Sport & Sondermotoren e.U. ENGINES, VEHICLES 17

SQZ Software Engineering & Qualitätsmanagement Zopf

SERVICES 47

Stora Enso Timber AG MANUFACTURED GOODS 22

Strabag SE OTHER MANUFACTURED GOODS 31

M. Swarovski GmbH OTHER MANUFACTURED GOODS 31

TAG – T. Akhras Group SERVICES 48

Talpa GmbH SERVICES 48

TECS Telecommunication & E-Commerce Solutions GmbH

SERVICES 48

Tiger 1 Co. ENGINES, VEHICLES 17

Ti-Tella Handelsgesellschaft mbH ENGINES, VEHICLES 17

TOMDIVE SERVICES 49

Trade Line Machinery ENGINES, VEHICLES 18

Trenka Chemisch-Pharmazeutische Fabrik GmbH CHEMICAL PRODUCTS 12

Traude Fritz CULTURE AND ART 12

TUMA PUMPENSYSTEME GMBH ENGINES, VEHICLES 18

Tyche Rohstoffhandel & Beteiligung GmbH RAW MATERIALS 32

UNTHA shredding technology ENGINES, VEHICLES 18

VA Intertrading AG MANUFACTURED GOODS 23

Vamed Engineering GmbH & Co KG SERVICES 49

Vienna Business Agency SERVICES 49

VIMPEX HandelsgesmbH. MANUFACTURED GOODS 23

Webster University SERVICES 49

Wyeth Whitehall Export GmbH CHEMICAL PRODUCTS 12

X-Plus-Management GmbH SERVICES 50

Ybbstaler Fruit Austria GmbH DRINKS AND TOBACCO 13

Community of Piringsdorf MUNICIPALITIES 51

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MEMBER DIRECTORY

Algeria

AKTIVSAUERSTOFF GmbH 7

Böhler International GmbH 20

Bureau Veritas Austria GmbH 36

EBEWE Pharma Ges.m.b.H. Nfg.KG 9

Egypt Air 38

Europe Arab Bank plc 38

F. J. Elsner Trading & Co 20

Gabriel Chemie GmbH 9

GREINER BIO-ONE GmbH 10

ICC: Austria International Chamber of Commerce 41

IPSA – International Protect & Security Agency e.U. 42

LIEBHERR-Werk Nenzing GmbH 16

Mayr-Melnhof Timber Trading GmbH 32

Merck KGaA & Co. Werk Spittal 11

Österr. Doka Schalungs-Gerüstbautechnik GmbH. 30

Plasser & Theurer Export von Bahnbaumaschinen GmbH 16

POWER HORSE Energy Drinks GmbH 13

Raiffeisen Zentralbank Austria AG 45

ROXCEL HandelsgesmbH 22

SPC (K.Prexl Sales-Projects-Consulting) 47

Trenka Chemisch-Pharmazeutische Fabrik GmbH 12

VIMPEX HandelsgesmbH. 23

Bahrain




Mag. Hoeveler & Co GmbH 10


Khwanda Group 15

Leitz GesmbH & Co KG 16


Omicron Electronics GmbH 16



Rauch Fruchtsäfte GmbH & Co OG 13

Red Bull GmbH 13



Wyeth Whitehall Export GmbH 12

Ybbstaler Fruit Austria GmbH 13

Comoros






Djibouti






Egypt

a-consult GmbH 33

ADCON Telemetry GmbH 26


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Alshaya Retail GmbH 34

Arabital Shipping 34

Asiah Group Ltd 34

Bags Holding GesmbH 35


Dotzauer Kristallleuchten ProduktionsGmbH 27

D. Swarovski & Co. 27


Egypt Air 38


Emirates Airlines 38


EVER Neuro Pharma GmbH 9


Gebrüder Woerle GesmbH. 24


Gresam HandelsgesmbH 25


ISAB Industrieanlagenbau Ges.m.b.H. 15


J.T. Kalmar GmbH 29

Katharina Hallal GmbH 10

Khwanda Group 15





OMV Aktiengesellschaft 19

OVOTHERM International HandelsGmbH 21




Schreiber & Rupp GesmbHH 25





Iraq









Geospace GmbH 39



J.T. Kalmar GmbH 29







Red Bull GmbH 13

Schreiber & Rupp GesmbHH 25



Vamed Engineering GmbH & Co KG 49


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Jordan





Backhausen interior design GmbH 26





Egypt Air 38










J.T. Kalmar GmbH 29

Khwanda Group 15



Mondi Business Paper Sales GmbH 21




Papierfabrik Wattens GmbH & Co KG 21





Red Bull GmbH 13

RHI AG 22


Schreiber & Rupp GesmbH 25


Trade Line Machinery 18




Webster University 49


Kuwait



ARACON Consulting GmbH 34








Egypt Air 38



Frey Wille GmbH & Co KG 28





ILF – Beratende Ingenieure ZT Ges.m.b.H 42


J.T. Kalmar GmbH 29

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Nahas Enterprises Group 43




Plan.NET Middle East 45





Red Bull GmbH 13



Spitzwieser Sport & Sondermotoren e.U. 17





X-Plus-Management GmbH 50


Lebanon








Egypt Air 38











J.T. Kalmar GmbH 29

Khwanda Group 15











Red Bull GmbH 13





UNTHA shredding technology 18




Libya




BEV-Group 24

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Egypt Air 38







J.T. Kalmar GmbH 29











Red Bull GmbH 13

RHI AG 22






Mauritania








Morocco

a-consult GmbH 33





Egypt Air 38







J.T. Kalmar GmbH 29










Red Bull GmbH 13




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Oman






Palestine













Qatar




Beta Handelsgesellschaft m.b.H. 27


DCC – Doppelmayr Cable Car GmbH & Co KG 14



Egypt Air 38







Hasenkopf 28




J.T. Kalmar GmbH 29



MOBIL BAUSTOFFE GmbH 29

Modern Life Handels GmbH 29









Red Bull GmbH 13



Talpa GmbH 48







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Saudi Arabia


AGT Management & Engineering AG 19



ALVETRA u. WERFFT AG 24



asp.consulting GmbH 35

Austroplan Austrian Engineering GmbH 35









Egypt Air 38







Geospace GmbH 39






J.T. Kalmar GmbH 29

Khwanda Group 15















Red Bull GmbH 13

RINGER KG 30









Somalia






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Sudan






Egypt Air 38




Hasenkopf 28








Red Bull GmbH 13




Syria

a-consult GmbH 33


Al Mashreq Investment Fund 33

Al Matin Group for trade and industry 8

ALPHA – Aleppo Pharmaceutical Industries 8






Egypt Air 38






Fritz Baumaschinen GmbH & Co KG 14



Geospace GmbH 39

Ghraoui Group 25





J.T. Kalmar GmbH 29

Khalil Sara Establishment 21

Khwanda Group 15











Red Bull GmbH 13

RHI AG 22

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SANA Investment Co. 46

SBG – AlMarasem – BTC 47


TAG – T. Akhras Group 48

Tiger 1 Co. 17

Ti-Tella Handelsgesellschaft mbH 17






Tunisia



DIET – Développement Industriel Enfidha Tunisie:

ENFIDHA INDUSTRIAL PARK 37



Egypt Air 38

















Red Bull GmbH 13







Aqua Engineering GesmbH 26





BEV-Group 24



DCM DECOmetal GmbH 32




Egypt Air 38



EOOS GmbH 20






Hasenkopf 28

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Heller Consult Tax & Business Solutions GmbH 41




Innovation und Technik GmbH 15

Islamisches Informations- und Dokumentations-zentrum Österreich (IIDZ – Austria) 43


J.T. Kalmar GmbH 29

Khwanda Group 15


















Red Bull GmbH 13

RHI AG 22










Yemen



Egypt Air 38





Geospace GmbH 39















RHI AG 22






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INTERNATIONAL CONTACTS

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LIST OF ARAB EMBASSIES IN AUSTRIAALGERIAEmbassy of the People’s Democratic Republic of Algeria Address: Rudolfinergasse 18 / 1190 Vienna

Tel.: 0043 (0) 1 369 88 53

Fax: 0043 (0) 1 369 88 56


Consulate: [email protected]

Internet: www.algerische-botschaft.at

Ambassador: H.E. Ms. Taous FEROUKHI

EGYPTEmbassy of the Arab Republic of Egypt Address: Hohe Warte 50 – 54 / 1190 Vienna

Tel.: 0043 (0) 1 370 81 04

Fax: 0043 (0) 1 370 81 04 - 27


Internet: www.egyptembassyvienna.at

Ambassador: H.E. Dr. Ehab FAWZY

IRAQEmbassy of the Republic of Iraq Address: PO Box 599, Johannesgasse 26 / 1010 Vienna

Tel.: 0043 (0) 1 713 81 95

Fax: 0043 (0) 1 713 67 20


Chargé d’affaires a.i.: H.E. Mr. Ziad Tariq AL-ADHAMY

JORDANEmbassy of the Hashemite Kingdom of Jordan Address: Rennweg 17/4 / 1030 Vienna

Tel.: 0043 (0) 1 405 10 25

Fax: 0043 (0) 1 405 10 31


Internet: www.jordanembassy.at

Ambassador: H.E. Mr. Makram QUEISI

KUWAITEmbassy of the State of Kuwait Address: Strassergasse 32 / 1190 Vienna

Tel.: 0043 (0) 1 405 56 46

Fax: 0043 (0) 1 405 56 46 -13


Ambassador: H.E. Mr. Mohammad AL-SALLAL

LEAGUE OF ARAB STATESMission of the League of Arab States in ViennaAddress: Schwarzenbergplatz 6/Zaunergasse 1-3 /

1030 Vienna

Tel.: 0043 (0) 1 513 07 66

Fax : 0043 (0) 1 513 07 67


Ambassador: H.E. Dr. Mikhail WEHBE

LEBANONEmbassy of the Lebanese Republic Address: Oppolzergasse 6/3 / 1010 Vienna

Tel.: 0043 (0) 1 533 88 21

Fax: 0043 (0) 1 533 49 84


Ambassador: H.E. Mr. Ishaya EL-KHOURY

LIBYAPeople’s Bureau of the Socialist People’s Libyan Arab Jamahiriya Address: Blaasstr. 33 / 1190 Vienna

Tel.: 0043 (0) 1 367 76 39

Fax: 0043 (0) 1 367 76 01


Ambassador: H.E. Dr. Ahmed MENESI

MOROCCOEmbassy of the Kingdom of Morocco Address: Opernring 3-5 / 1010 Vienna

Tel.: 0043 (0) 1 586 66 51

Fax: 0043 (0) 1 586 76 67


Ambassador: H.E. Dr. Omar ZNIBER

OMANEmbassy of the Sultanate of Oman Address: Währingerstr. 2-4 / 1090 Vienna

Tel.: 0043 (0) 1 310 86 43

Fax: 0043 (0) 1 310 72 68


Ambassador: H.E. Dr. Badr bin AL-HINAI

PALESTINEMission of Palestine Address: Josefsgasse 5 / 1080 Vienna

Tel.: 0043 (0) 1 408 82 02

Fax: 0043 (0) 1 408 81 19


Internet: www.palestinemission.at

Ambassador: H.E. Dr. Zuheir ELWAZER

QATARRepresentation of the State of Qatar Address: Währingerstr. 2-4 / 1090 Vienna

Tel.: 0043 (0) 1 310 49 50

Fax: 0043 (0) 1 319 08 97


Ambassador: H.E. Mr. Ali Khalfan AL-MANSOURI

SAUDI ARABIAEmbassy of the Kingdom of Saudi Arabia Address: Formanekgasse 38 / 1190 Vienna

Tel.: 0043 (0) 1 367 25 31

Fax: 0043 (0) 1 367 25 40


Ambassador: H.H. Prince Mansour bin Khalid AL SAUD

SUDANEmbassy of the Republic of Sudan Address: Reisnerstr. 29/5 / 1030 Vienna

Tel.: 0043 (0) 1 710 23 43

Fax: 0043 (0) 1 710 23 46


Ambassador: H.E. Mr. Mahmud ELAMIN

SYRIAEmbassy of the Syrian Republic Address: Daffingerstr. 4 / 1030 Vienna

Tel.: 0043 (0) 1 533 46 33

Fax: 0043 (0) 1 533 46 32


Ambassador: H.E. Mr. Bassam SABBAGH

TUNISIAEmbassy of the Republic of Tunisia Address: Sieveringerstr. 187 / Vienna 1190

Tel.: 0043 (0) 1 581 52 81

Fax: 0043 (0) 1 581 55 92


Ambassador: H.E. Mr. Ali CHAOUCH

UNITED ARAB EMIRATESEmbassy of the United Arab Emirates Address: Peter-Jordan-Str. 66 / 1190 Vienna

Tel.: 0043 (0) 1 368 14 55

Fax: 0043 (0) 1 368 44 85


Ambassador: H.E. Mr. Mohamad Omran ALSHAMSI

YEMEN Embassy of the Republic of Yemen Address: Reisnerstr. 18-20 / 1. Stock, Top 3-4 /

1030 Vienna

Tel.: 0043 (0) 1 503 29 30

Fax: 0043 (0) 1 505 31 59


Consulate: [email protected]

Ambassador: H.E. Mr. Abdel Hahim AL-ERYANI

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LIST OF AUSTRIAN EMBASSIES IN ARAB COUNTRIES

ALGERIAAustrian Embassy in Algier Address: 17, Chemin Abdel kader Gadouche,

16035 Hydra

Tel.: 00213 / 21 69 10 86

Fax: 00213 / 21 69 12 32


Ambassador: H.E. Mag. Aloisia WÖRGETTER

EGYPTAustrian Embassy in CairoAddress: El Nile Street/Corner 5, Wissa

Wassef Street, 5th Floor, Riyadth-Tower,

Giza, 11111 Kairo

Tel.: 0020 / 2 3570 29 75

Fax: 0020 / 2 3570 29 79


Internet: www.austriaegypt.org

Ambassador: H.E. Mag. Dr.Thomas NADER

Office area: Egypt, Sudan, Eritrea

JORDANAustrian Embassy in AmmanAddress: Mithqal Al-Fayez Street 36, Jabal Amman

P.O.B. 830795, Amman 11183

Tel.: 00962 / 6 460 11 01

Fax: 00962 / 6 461 27 25


Ambassador: H.E. Mag. Franz HÖRLBERGER

KUWAITAustrian Embassy in Kuwait CityAddress: Daiyah, Area Nr. 3, Shawki Street,

house Nr. 10, Kuwait

P.O.B. 15013 Daiyah, 35451 Kuwait

Tel.: 00965 / 225 52 532

Fax: 00965 / 225 63 052


Ambassador: H.E. Mag. Marian WRBA

Office area: Bahrain, Qatar, Kuwait

LEBANON Austrian Embassy in BeirutAddress: Avenue Charles Malek, Tabaris – Achrafieh

Tabaris 812 Bldg., 8th floor,

Beirut 2071-1606

P. O. Box 11-3924

Tel.: 00961 / 1 21 73 60

Fax: 00961 / 1 21 77 72


Internet: www.aussenministerium.at/beirut

Ambassador: H.E. Dr. Eva Maria ZIEGLER

LIBYAAustrian Embassy in TripolisAddress: Shara Khalid Ben Walid/Shara Arismondi,

Dahra Area, Garden City, Tripolis

P.O.B. 3207, Tripolis

Tel.: 00218 / 21 44 43 379

Fax: 00218 / 21 44 40 838


Ambassador: H.E. Mag. Dorothea AUER

MOROCCOAustrian Embassy in RabatAddress: 2 Zankat Tiddas, Rabat

BP 135, Rabat

Tel.: 00212 / 537 76 40 03

Fax: 00212 / 537 76 54 25


Internet: www.aussenministerium.at/rabat

Ambassador: H.E. Dr. Georg MAUTNER-MARKHOF

Office area: Morocco, Mauritania

OMANAustrian Embassy in Muscat Address: Shatti al Qurum, Al-Kharijia Street,

Way no. 3013,

Villa no. 898, Maskat

P.O.Box 2070, Postal Code 112

RUWI, Muscat

Tel.: 00968 / 2469 4127

Fax: 00968 / 2469 9265


Ambassador: H.E. Dr. Andreas KARABACZEK

Office area: Yemen, Oman

SAUDI ARABIAAustrian Embassy in RiyadhAddress: Diplomatic Quarter Riyadh

P.O.Box 94373, Riyadh 11693

Tel.: 00966 / 1 480 12 17

Fax: 00966 / 1 480 15 26


Internet: www.aussenministerium.at/riyadh

Ambassador: H.E. Dr. Johannes WIMMER

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SYRIAAustrian Embassy in DamascusAddress: Farabi Street 1, Bld. Mohamed

Naim Al-Deker,

Mezzeh, East Villas, Damascus

P.O.Box 5634, Damascus

Tel.: 00963 / 11 613 80 1-00

00963 / 11 613 98 300 (Visa Department)

Fax: 00963 / 11 611 67 34


Internet: www.aussenministerium.at/damaskus

Ambassador: H.E. Dr. Maria KUNZ

TUNISIAAustrian Embassy in TunisAddress: 16, Rue Ibn Hamdiss El Menzah I,

1004 Tunis

Tel.: 00216 / 71 23 90 38

Fax: 00216 / 71 75 54 27


Internet: www.aussenministerium.at/tunis

Ambassador: H.E. Mag. Dr. Johann FRÖHLICH

UNITED ARAB EMIRATESAustrian Embassy in Abu DhabiAddress: Al Khazna Tower, Abu Dhabi

P.O.B. 35539, Abu Dhabi

Tel.: 00971 / 2 67 66 611

Fax: 00971 / 2 67 15 551


Internet: www.aussenministerium.at/abudhabi

www.austrianembassy.ae

Ambassador: H.E. Dr. Julius LAURITSCH

AUSTRIAN TRADE COMMISSIONS IN ARAB COUNTRIES

ALGERIAAustrian Trade Commission in Algiers Address: Ambassade d’Autriche -

Section Commerciale

17, Chemin Abdelkader Gaddouche

16035 Hydra-Alger ALGÉRIE

ALGERIEN

Tel.: 00213 21 / 69 12 29 or 69 27 54

Fax: 00213 21 / 69 15 90


Internet: wko.at/awo/dz Office Area: Algeria, Tunisia

Commercial Counsellor: Mag. Ulrike STRAKA

COMOROSAustrian Trade Commission Johannesburg Address: 1, Cradock Avenue

(Corner Tyrwhitt Avenue)

Rosebank (Johannesburg)

Tel.: 0027 11 / 442 71 00

Fax: 0027 11 / 442 83 04


Internet: wko.at/awo/zaOffice Area: Comoros (et. al.) Commercial Counsellor: Dr. Stefan PISTAUER

EGYPTAustrian Trade Commission Cairo Address: Austrian Embassy - Commercial Office

8, Ismail Mohamed Street - Zamalek

Cairo

ARAB REPUBLIC OF EGYPT

Tel.: 00202 / 273 576 07 or 273 611 50 or

273 655 63

Fax: 00202 / 273 628 92


Internet: wko.at/awo/eg Office Area: Sudan, Djibouti (et. al.)

Commercial Counsellor: Dr. Kurt ALTMANN

IRAQAustrian Trade Commission Erbil Address: Gulan Street at Naz City, Block E,

Groundfloor door 3

Erbil

Tel.: 00964 / 750 449 50 38 or

0043 (0) 676 936 92 86


Internet: wko.at/awo/iq Commercial Counsellor: Mr. Oskar SMRZKA

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LIBYAAustrian Trade Commission Tripoli Address: Abdulkader el Jazairi

Tripoli

Tel.: 00218 21 / 333 51 76 or 333 51 77 or

333 04 16

Fax: 00218 21 / 333 73 22


Internet: wko.at/awo/ly Commercial Counsellor: Mr. David BACHMANN

MOROCCOAustrian Trade Commission Casablanca Address: Ambassade d’Autriche –

Section Commerciale

45, Avenue Hassan II

20000 Casablanca

MAROC

Tel.: 00212 522 / 223 282 or 224 770 or

266 904

Fax: 00212 522 / 221 083


Internet: wko.at/awo/maOffice Area: Morocco, Mauritania (et. al.) Commercial Counsellor: Mr. Manfred SCHMID

PALESTINEAustrian Trade Commission Tel Aviv Address: Trade Tower, 9th Floor

25, Hamered Street

61500 Tel Aviv

ISRAEL

Tel.: 00972 / 3 516 86 85

Fax: 00972 / 3 516 85 80

E-Mail: [email protected] Internet: wko.at/awo/il Commercial Counsellor: Mr. Christian LASSNIG

SAUDI ARABIAAustrian Trade Commission Riyadh Address: Kingdom Tower 23rd Floor

Olaya District, Arouba Road

Riyadh 11693

SAUDI-ARABIA

Tel.: 00966 1 / 211 01 11 or 211 01 71 or

211 01 77

Fax: 00966 1 / 211 02 22


Internet: wko.at/awo/sa Office Area: Saudi Arabia, Yemen

Commercial Counsellor: Mag. Pierre PRUNIS

SYRIAAustrian Trade Commission Damascus Address: Mezzeh, Eastern Villas

Farabi Street 116a

Damascus

SYRIA

Tel.: 00963 11 / 611 77 71 or 611 46 16

Fax: 00963 11 / 613 20 78


Internet: wko.at/awo/sy Office Area: Jordan, Lebanon

Commercial Counsellor: Dr. Kurt MÜLLAUER

UNITED ARAB EMIRATESAustrian Trade Commission Abu Dhabi Address: Al Khazna Tower, 7th Floor

Al Najda Street

Abu Dhabi

UNITED ARAB EMIRATES

Tel.: 00971 2 / 676 66 33

Fax: 00971 2 / 676 00 02


Internet: wko.at/awo/ae Office Area: Bahrain, Qatar, Kuwait, Oman, Pakistan

Commercial Counsellor: Dr. Wolfgang PENZIAS

72

AUSTRIAN TRADE COMMISSIONS

MARKETING OFFICES

CASABLANCA TRIPOLI

ALGIERS TUNIS

CAIRO

DAMASCUS

RIYADHJEDDAH

ERBIL

DUBAIABU DHABI

WORLDWIDE AT YOUR SERVICE.

With a network of more than 100 offices in 70 countries

is uniquely positioned to consult

and guide you worldwide.

11 Austrian Trade Commissions and Marketing Offices

support you in Arab Countries.

AUSTRIAN TRADE

0800|397678 [email protected] wko.at/awo advantageaustria.org

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73

ADDRESSES OF JOINT ARAB-FOREIGN CHAMBERS

Austro-Arab Chamber of Commerce (AACC)Österreichisch-Arabische Handelskammer

Postfach 181, A – Lobkowitzplatz 1,

1015 Vienna - Austria

Tel.: 00431 / 513 39 65-0

Fax: 00431 / 513 85 59


http://www.aacc.at

EXECUTIVE BOARD:Dkfm. Dr. Herbert STEPIC ............................................................ President

KommR. Nabil R. KUZBARI ......................................................... Vice President

Dr. Gerhard ROISS ............................................................................. Vice President

Mr. Henry HAFEZ ................................................................................. Vice President

Dipl.-Ing. Mouddar KHOUJA ...................................................... Secretary General

Dr. Alfred STROMMER ................................................................... Treasurer

H.E. Dr. Badr M. AL-HINAI ............................................................. President of the Arab Ambassador Council in Austria

(in quarterly rotation)

H.H. Prince Mansour Bin Khalid AL SAUD ........................ Ambassador of the Kingdom of Saudi Arabia

STAFF:Mag. Leila KAPLAN .......................................................................... Assistant to the Secretary General

Nahla OSSEIRAN ................................................................................ Client Service Officer, Data Base

Wahid Zaffrul SHAN ......................................................................... Legalization Officer

CONSULTANTS:Dr. Horst MACHU ............................................................................... Chief Consultant, former Commercial Counsellor in

Arab countries

Min.-Couns. Soliman ELGOHARY ........................................... Consultant

AUSTRIA

74

ARGENTINIA

Argentine-Arab Chamber of Commerce (CCAA)Cámara de Comercio Argentino Arabe

Montevideo 513 / Piso 6

C1019ABK Buenos Aires – Republica Argentina

Tel.: 005411/ 437 28 167

Fax: 005411/ 437 12 561


http://www.camarabe.com

Mr. Jamal M. AWADAH .............................. President

Mr. Sattamm AL-KADDOUR ................... Secretary General

AUSTRALIA

Australia-Arab Chamber of Commerce & Industry Inc. (AACCI) AACCI National Office

24 Brisbane Avenue Barton ACT 2600 - Australia

P.O. Box 6005 / Kingston ACT 2604 - Australia

Tel.: 00612/ 627 08 037

Fax: 00612/ 627 33 196


http://www.austarab.com.au

Mr. Ray NAJAR ................................................ National Chairman

Mr. Robert NEWTON ................................................ Executive Director

(CEO)

BELGIUM

Chambre de Commerce Belgique-Luxembourg-Pays Arabes (CCBLA)Arab-Belgium-Luxemburg Chamber of Commerce

Rue Mignot-Delstanche Straat 60 /

Brussel 1050 Bruxelles - Belgium

Tel.: 0032 / 2 344 82 04

Fax: 0032 / 2 347 57 64


http://www.ccbla.org

Mr. Johan BEERLANDT ............................. President

Mr. Qaisar HIJAZIN ....................................... Secretary General

BRAZIL

Arab-Brazilian Chamber of Commerce (CCAB)Câmara de Comércio Árabe-Brasileira

Av. Paulista, 326 17th/18th Floor

01310 – 902 Sao Paulo - SP - Brazil

Tel.: 005511 / 3283 40 66

Fax: 005511 / 3288 81 10


http://www.ccab.org.br

Mr. Salim Tawfic CHAHIEN ..................... President

Mr. Michel ALABI ............................................. Secretary General

CHINA

China-Arab Joint Chamber of Commerce (CAJCC)China Council for the Promotion

of International Trade (CCPIT)

1 Fu Xing Men Wai Street,

Beijing 100860 - P.R.China

Tel.: 0086 / 10 8807 ext. 5663 / 5393

Fax: 0086 / 10 8807 5408


http://www.ccpit.org

Mr. Wan JIFEI ....... Chairman of Chinese Board of CAJCC

Mr. Adnan KASSAR .. Chairman of Arab Board of CAJCC

CZECH REPUBLIC

Czech-Arab Chamber of Commerce Cesko - Arabská Obchodní Komora

Freyova 27/82 /

190 00 Praha 9 – Czech Republic

Tel.: 00420 / 773 131 858


http://www.czaok.cz

Ing. George KARRÁA ................................. President

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FRANCE

Chambre de Commerce Franco-Arabe (CCFA)

250 bis, Boulevard Saint Germain,

75007 Paris - France

Tel.: 00331 / 45 53 20 12

Fax: 00331 / 47 55 09 59


http://www.ccfranco-arabe.org

Mr. Herve DE CHARETTE ......................... President

Dr. Saleh Bakr AL-TAYAR .......................... Secretary General

GERMANY

Ghorfa Arab-German Chamber of Commerce and Industry e. V. (Ghorfa)Arabisch-Deutsche Vereinigung

Für Handel und Industrie e.V.

1 Garnisonskirchplatz,

10178 Berlin - Federal Republic of Germany

Tel.: 0049 30 / 2789 07-0

Fax: 0049 30 / 2789 07-49


http://www.ghorfa.de

Dr. Thomas BACH .............................. President

Mr. Abdulaziz AL-MIKHLAFI ..................... Secretary General

Arab-Hellenic Chamber of Commerce and Development

180-182 Kifissias Ave,

154 51 N. Psychico, Athens - Greece

Tel.: 0030 210/ 671 12 10 101; 6726882

Fax: 0030 210/ 674 65 77; 6746 578


http://www.arabgreekchamber.gr/

Eng. Anttar BANDALSI ............................... President

Mr. Mohamed E. EL-KHAZMI ................. Secretary General

IRELAND

The Joint Arab-Irish Chamber of Commerce

63 Lower Mount Street,

Dublin 2 - Ireland

Tel.: 00353 / 1 / 662 44 51 – 662 15 77

Fax: 00353 / 1 / 662 47 29

E-Mail: [email protected], [email protected]

http://www.jaicc.ie/

Mr. Louis J. MAGUIRE ................................ President

Mr. Ahmad R. YOUNIS .......................Secretary General

ITALY

Arab-Italian Chamber of CommerceCamera di Commercio Italo-Araba

Chambre de Commerce Italo-Arabe

Via Monti Parioli 48 /

00197 Roma - Italy

Tel.: 003906/ 322 67 51

Fax: 003906/ 322 69 01


http://www.cameraitaloaraba.org

Mr. Sergio MARINI ......................................... President

Mr. Fouad ABDULHADI ............................... Secretary General

Joint Kenya-Arab Chamber of Commerce and Industry

10th Floor, KCS House, MAMA Ngina Street,

P.O. Box 50182 - 00200 Nairobi - KENYA

Tel.: 00254 / 20 / 343 551

Fax: 00254 / 20 / 310 643


[email protected]

Mr. Omar FAKIH .......................... Deputy Secretary - General

GREECE KENYA

MALTA

Maltese-Arab Chamber of Commerce, Industry and Agriculture

Auberge A, San Anton, De Paule Avenue,

Balzan BZN 02 - Malta

Tel.: 00356 21/ 48 27 50 – 48 27 07

Fax: 00356 21/ 48 27 14


Mr. Anthony GUILLAUMIER .................... President

Mr. Mohamed Ezzeddine

BEK DERNA ........................................................ Secretary General

PORTUGALArab-Portuguese Chamber of Commerce and IndustryCamara De Comercio E Industria Arabe-Portuguesa

AVENIDA FONTES PEREIRA DE MELO 19-8,

1050-116 LISBOA - PORTUGAL

Tel.: 00351 21/ 313 81 00

Fax: 00351 21/ 313 81 09


http://www.cciap.pt

Mr. Angelo CORREIA ................................... President

Mr. Allaoua Karim BOUABDELLAH .... Secretary General

RUSSIA

Russian-Arab Business Council

Office 143 / 17/8/9 bldg1,

Prechistenka St., Moscow, 119034 / Russia

Tel.: 007495/ 730-4123

Fax: 007495/ 730-4123


http://www.rusarabbc.ru

Mr. Vladimir P. YEVTUSHENKOV ........ Chairman

Mrs. Tatiana GVILAVA ................................. Director

SWITZERLAND

Arab-Swiss Chamber of Commerce and IndustryChambre Arabo-Suisse du commerce et de l’industrie

Arabische-Schweizerische Handels und Industriekammer

70 / Route de Florissant,

CH-1211 Geneve 12 - Switzerland

Tel.: 004122/ 34 73 202

Fax: 004122/ 34 73 870


http://www.casci.ch

Mr. Werner OBERLI ........................................ President

Mr. Bahaa EL-ATTAR .................................... Secretary General

UNITED KINGDOMArab-British Chamber of Commerce

43 Upper Grosvenor Street,

London, W1K 2NJ - UK

Tel.: 0044 / 20 / 7235 4363

Fax: 0044 / 20 / 7245 66 88


http://www.abcc.org.uk

Sir Roger TOMKYS ....................................... President

Dr. Afnan Al-SHUAIBY ................................ Secretary General

National U.S.-Arab Chamber of Commerce

1023 15th Street, N.W.

Suite 400, Washington D.C. 20005 - U.S.A

Tel.: 001 202 / 289 59 20

Fax: 001 202 / 289 59 38


http://www.nusacc.org

Mr. David HAMOD ....................................... President & CEO

Mr. Donald DE MARINO ..................... Chairman

UNITED STATES

76

ALGERIA

Chambre Algérienne de Commerce et d‘Industrie (CACI)

Palais Consulaire 6 / Bd. Amilcar Cabral - 16003 Alger

BP 100 Alger 1er Novembre, Place des Martyrs - Algérie

Tel.: 00213 21/ 96 77 77 or 96 66 66

Fax: 00213 21/ 96 70 70


http://www.caci.dz

BAHRAIN

Bahrain Chamber of Commerce and Industry

P.O.Box 248 Manama – Kingdom of Bahrain

Tel.: 00973 17/ 380 000

Fax: 00973 17/ 380 123


http://www.bahrainchamber.org.bh

COMOROS

Union des Chambres de Commerce d’Industrie et d’Agriculture des Comoros P.O.Box 763 Moroni – Comoros

Tel.: 00269 / 730 958

Fax: 00269 / 731 983

http://www.uccia-comoros.com/

DJIBOUTI

Chambre Internationale de Commerce et d’Industrie (Djibouti)

B.P. 84 Djibouti – République de Djibouti

Tel.: 00253/ 351 070

Fax: 00253/ 350 096


EGYPT

Federation of Egyptian Chambers of Commerce

4 / Falaki Square, 25 Cairo – Egypt

Tel.: 0020 22/ 795 60 66 - 795 11 36 - 795 36 77

Fax: 0020 22/ 794 38 01 - 795 11 64


http://www.fedcoc.org.eg

IRAQ

Federation of Iraqi Chambers of Commerce

Saadoun St., Baghdad - Iraq

Tel.: 00964 / 790 362 1817

Fax: N/A


http://www.ifi-iraq.org/

JORDAN

Jordan Chamber of Commerce

P.O.Box 7029 Amman 11118 – Jordan

Tel.: 00962 6/ 566 54 92

Fax: 00962 6/ 568 59 97


http://www.jocc.org.jo

Jordan Chamber of Industry

P.O.Box 1800 Amman 11118 – Jordan

Tel.: 00962 6/ 464 30 01

Fax: 00962 6/ 464 78 52


http://www.aci.org.jo

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ADDRESSES OF FEDERATIONS & CHAMBERS OF COMMERCE, INDUSTRY AND AGRICULTURE IN THE ARAB COUNTRIES

78

KINGDOM OF SAUDI ARABIA

Council of Saudi Chambers

P.O.Box 16683 Riyadh 11474 - Kingdom of Saudi Arabia

Tel.: 00966 1/ 21 82 222

Fax: 00966 1/ 21 82 111


http://www.csc.org.sa/

Federation of GCC Chambers

P.O.Box 2198 / 31451 Damam, Kingdom of Saudi Arabia

Tel.: 00966 3 83 55 006

Fax: 00966 3 83 55 007


http://www.fgccc.org

KUWAIT

Kuwait Chamber of Commerce and Industry

Commercial Area # 9 / Al-Shuhadaa St., Kuwait City

P.O.Box 775 / Safat 13008 – Kuwait

Tel.: 00965/ 224 23 555 or 224 23 666

Fax: 00965/ 224 04 110


http://www.kcci.org.kw

LEBANON

Federation of Chambers of Commerce, Industry & Agriculture in Lebanon

P.O.Box 11-1801 / Beirut - Lebanon

Tel.: 00961 1/ 744 702 or 353 190

Fax: 00961 1/ 349 614

E-Mail : [email protected]

http://www.cci-fed.org.lb

General Union of Chambers of Commerce, Industry and Agriculture for Arab Countries

P.O.Box: 11-2837 / Beirut - Lebanon

Tel.: 00961 1/ 826 021/ 22/ 24

Fax: 00961 1/ 826 020

E-Mail : [email protected], [email protected]

http://www.gucciaac.org.lb

LIBYA

Federation of Jamahiriya Chambers of Commerce, Industry & Agriculture

P.O.Box 12556 / Maidan Al-Jazayer, Tripoli – Libya

Tel.: 00218 21/ 33 65 -130 or -133

Fax: 00218 21/ 33 65 -126 or -127


http://www.guocci.com

MAURITANIA

Chambre de Commerce, d’Industrie et d’Agriculture de Mauritanie

Av. de l’indépendance, BP 215 / Nouakchott – Mauritanie

Tel.: 00222/ 525 22 14

Fax: 00222/ 525 38 95


http://www.chambredecommerce.mr/

MOROCCO

Fédération des Chambres Marocaines de Commerce, d`Industrie et de Services

6 Rue Erfoud, P.O.Box 218 Rabat cp10001 - Maroc

Tel.: 00212 37/ 76 70 51

Fax: 00212 37/ 76 70 96


http://www.fcmcis.ma/

OMAN

Oman Chamber of Commerce and Industry

P.O.Box 1400 , Postal Code 112 / Ruwi Muscat – Sultan-

ate Of Oman

Tel.: 00968 24/ 70 76 74

Fax: 00968 24/ 70 84 97


http://www.chamberoman.com

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PALESTINE

Federation of Palestinian Chambers of Commerce, Industry & Agriculture

Jerusalem, Al-Rashid St., P.O.Box: 54107

Tel.: 00970 2/ 23 44 923

Fax: 00970 2/ 23 44 924


http://www.pal-chambers.org

QATAR

Qatar Chamber of Commerce and Industry

P.O.Box 402 / Doha – Qatar

Tel.: 00974/ 44 55 91 11

Fax: 00974/ 44 66 16 93 / 44 66 16 97


http://www.qcci.org

SOMALIA

Somali Chamber of Commerce and Industry

Somali Chamber Building, near Banadir Hotel, Shibis

District, Mogadishu - Somalia

Tel.: 00252 1/ 64 30 81 or 00252 5 / 942 333

Fax.: 00252 1/ 22 15 60


http://somalicci.com/

SUDAN

Sudanese Businessmen and Employers Federation P.O.Box 1758 Khartoum – Sudan

Tel.: 00249 1/ 83 431 -276 or -277 or -278

Fax: 00249 1/ 83 431 -281 or -283


http://www.sudabiz.org

SYRIA

Federation of the Syrian Chambers of Commerce Moussa Bin Nussair St.

P.O.Box 5909 Damascus – Syria

Tel.: 00963 11/ 333 73 44 or 33 11 504

Fax: 00963 11/ 333 11 27


http://www.fedcommsyr.org

TUNISIA

Union Tunisienne de l’Industrie, du Commerce et de l’Artisanat

Cité administrative, lot N°7 / Cité El-Khadhra,

1003 Tunis - TUNISIE

Tel.: 00216 71/ 142 300

Fax: 00216 71/ 142 100


http://www.utica.org.tn

UNITED ARAB EMIRATES (U.A.E.)

Federation of UAE Chambers of Commerce & Industry

ABU-DHABI Office: P.O.Box 3014 Abu-Dhabi – U.A.E.

Tel.: 00971 2/ 621 41 44

Fax: 00971 2/ 633 92 10


http://www.fcci.gov.ae

DUBAI Office: PO Box 8886 Dubai - UAE

Tel.: 00971 4/ 22 12 977

Fax: 00971 4/ 22 35 498


YEMEN

Federation of Yemeni Chambers of Commerce and Industry

P.O.Box: 16992 / Sana’a - Republic of Yemen

Tel.: 00967 1/ 261 295 - 265 038

Fax: 00967 1/ 261 269


80

MEMBER DIRECTORY

Chemical Products 7

Abiothrin Handelsg. mbH 7


ALPHA – Aleppo Pharmaceutical Industries 8

Al Matin Group for trade and industry 8

Borealis AG 8

Chemson Polymere-Additive AG 8




G.L. Pharma 9



IASON GmbH 10

Katharina Hallal GmbH 10


Mikro-Mineral GmbH 11

Onkotec GmbH 11

Sandoz GmbH 11



Culture and Art 12

Fritz: Traude Fritz 12

Herger: Atelier Mag. Art. Herger Helga 12

Spitzer: Ing. Pablo Spitzer 12

Drinks and Tobacco 13



Red Bull GmbH 13


Engines, Vehicles 14

Elin Wasserwerkstechnik Gesellschaft m.b.H. 14

DCC – Doppelmayr Cable Car GmbH & Co KG 14

Fritz Baumaschinen GmbH & Co KG 14

GE. Energy Jenbacher GmbH & Co OHG 14

Hörbiger Kompressortechnik GmbH 15

Innovation und Technik GmbH 15

ISAB Industrieanlagenbau GmbH 15

Khwanda Group 15







Tiger1 Co. 17

Ti-Tella Handelsgesellschaft mbH 17

TUMA PUMPENSYSTEME GMBH 18


Fuel and Energy 19

AGT Management & Engineering AG 19

Geosat Technology Limited 19


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Manufactured Goods 20


EOOS GmbH 20


IMET Handelsgesellschaft 20

Khalil Sara Establishment 21




Ramses Zwei GmbH 22

RHI AG 22


Stora Enso Timber AG 22


VA Intertrading AG 23

Nutrition 24


BEV-Group 24

Biolachs 24


Ghraoui Group 25


Die Marmeladen-Manufaktur 25


Other Manufactured Goods 26


Alu König Stahl 26

Aqua Engineering GesmbH 26



Christian Maschek Schmuck 27




GLS Tanks GmbH 28

Hasenkopf 28

Herz Austria GmbH 28

J.T. Kalmar GmbH 29

MOBIL BAUSTOFFE GmbH 29


Neue Wiener Porzellanmanufaktur AUGARTEN GmbH 29

Österr. Doka Schalungs- Gerüstbautechnik GmbH. 30

PORR – ALLGEMEINE BAUGESELLSCHAFT – A. PORR AG 30

RINGER KG 30

Schöler & Co GmbH 30

Science & Research Marketing GmbH 31

Sitte Vienna 31

Strabag SE 31

M. Swarovski GmbH 31

Raw Materials 32

DCM DECOmetal GmbH 32


SAG Aluminium Lend GmbH&Co.KG 32

Tyche Rohstoffhandel & Beteiligung GmbH 32

82

Services 33

Accès Alpintechnik Salzburg 33

Architekt Achtsnit & Achtsnit 33

a-consult GmbH 33

Al Mashreq Investment Fund 33




Asiah Group Ltd 34

asp.consulting GmbH 35

Austroplan Austrian Engineering GmbH 35

AVT-ARGE Regionale Verkehrsplanung und Transportwirtschaft,

Technisches Büro für Raumplanung 35



CIN Consult Unternehmensberatung GmbH 36

C & I Leasing GmbH 36

C&T Sportpferde Freudenthal 36

Club of Trade Delegates (Club der Handelsräte) 37

Das House – Immobilienentwicklungs und -verwertungs GmbH 37

Dr. D’Aron 37

DIET – Développement Industriel Enfidha Tunisie: ENFIDHA INDUSTRIAL PARK 37

Egypt Air 38

Ehrlich: Mag. Daniela Ehrlich, Rechtsanwältin 38



Expat Consulting 39

FREYGNER Rechtsanwalt GmbH 39

Gentics Software GmbH 39

Geospace GmbH 39

Gesellschaft Österreichisch-Arabische Ärzte und Apotheker 40

Goldenes Kreuz Privatklinik BetriebsGesmbH 40

GourmetConsult 40

Grand Hotel Wien 40

Heller Consult Tax & Business Solutions GmbH 41

Huber: Dr. Max Huber GmbH 41

Hulla & Co. Human Dynamics KG 41


IIFC Industrial & Investment Financing Consulting GmbH 42


Islamisches Informations – und Dokumentationszentrum Österreich (IIDZ – Austria) 42


Imperial Hotels Austria AG 43

Lambert Eversheds/Lambert Rechtsanwälte OG 43

Limousinenservice Schafek GmbH 43


OBERBANK-AG 44

ÖGV – Österreichischer Gewerbeverein 44

Österreichische Staatsdruckerei GmbH 44

OVE: Austrian Electrotechnical Association 44


Premium Health Solutions GmbH 45

Profi Personalvermittlung GmbH, activities??? 45


Rechtsanwälte: Dr. Franz Marschall & Mag. Rene Heinz 46

RISE – Research Industrial Systems Engineering GmbH 46

Sacher Hotels BetriebsgesmbH. 46

SANA Investment Co. 46

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SBG – AlMarasem – BTC 47

Schneider: Dr. Wolfgang J. Schneider GmbH 47


SQZ Software Engineering & Qualitätsmanagement Zopf 47

SWZT Chartered Consultants GmbH 48

TAG – T. Akhras Group 48

Talpa GmbH 48

TECS Telecommunication & E-Commerce Solutions GmbH 48

TomDive 49



Vienna Business Agency 49


Municipalities 51Community of Piringsdorf 51

INTERNATIONAL CONTACTS

List of Arab Embassies in Austria 67

Algeria 67

Egypt 67

Iraq 67

Jordan 67

Kuwait 67

League of Arab States 67

Lebanon 67

Libya 67

Morocco 68

Oman 68

Palestine 68

Qatar 68

Saudi Arabia 68

Sudan 68

Syria 68

Tunisia 68

United Arab Emirates 68

Yemen 68

List of Austrian Embassies in Arab Countries 69

Algeria 69

Egypt 69

Jordan 69

Kuwait 69

Lebanon 69

Libya 69

Morocco 69

Oman 69

Saudi Arabia 69

Syria 70

Tunisia 70

United Arab Emirates 70

84

Austrian Trade Commissions in Arab Countries 70Algeria 70

Comoros 70

Egypt 70

Iraq 70

Libya 71

Morocco 71

Palestine 71

Saudi Arabia 71

Syria 71

United Arab Emirates (UAE) 71

Addresses of Joint Arab-Foreign Chambers 73Austria

Austro-Arab Chamber of Commerce (AACC) 73

Argentina

Argentine-Arab Chamber of Commerce (CCAA) 74

Australia

Australia-Arab Chamber of Commerce & Industry Inc. (AACCI) 74

Belgium

Chambre de Commerce Belgique-Luxembourg-Pays Arabes (CCBLA) 74

Brazil

Arab-Brazilian Chamber of Commerce (CCAB) 74

China

China-Arab Joint Chamber of Commerce (CAJCC) 74

Czech Republic

Czech-Arab Chamber of Commerce (CZAOK) 74

France

Chambre de Commerce Franco-Arabe (CCFA) 75

Germany

Ghorfa Arab-German Chamber of Commerce and Industry e. V. (Ghorfa) 75

Greece

Arab-Hellenic Chamber of Commerce and Development 75

Ireland

The Joint Arab-Irish Chamber of Commerce 75

Italy

Arab-Italian Chamber of Commerce 75

Kenya

Joint Kenya-Arab Chamber of Commerce and Industry 75

Malta

Maltese-Arab Chamber of Commerce, Industry and Agriculture 76

Portugal

Arab-Portuguese Chamber of Commerce and Industry 76

Russia

Russian-Arab Business Council 76

Switzerland

Arab-Swiss Chamber of Commerce and Industry 76

United Kingdom

Arab-British Chamber of Commerce 76

United States

National U.S.-Arab Chamber of Commerce 76

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Addresses of Federations & Chambers of Commerce, Industry and Agriculture in the Arab Countries 77

Algeria

Chambre Algérienne de Commerce et d’Industrie (CACI) 77

Bahrain

Bahrain Chamber of Commerce and Industry 77

Comoros

Union des Chambres de Commerce d’Industrie et d’Agriculture des Comoros 77

Djibouti

Chambre Internationale de Commerce et d’Industrie (Djibouti) 77

Egypt

Federation of Egyptian Chambers of Commerce 77

Iraq

Federation of Iraqi Chambers of Commerce 77

Jordan

Jordan Chamber of Commerce

Jordan Chamber of Industry 77

Kingdom of Saudi Arabia

Council of Saudi Chambers

Federation of GCC Chambers 77

Kuwait

Kuwait Chamber of Commerce and Industry 78

Lebanon

Federation of Chambers of Commerce, Industry & Agriculture in Lebanon

General Union of Chambers of Commerce, Industry and Agriculture

for Arab Countries 78

Libya

Federation of Jamahiriya Chambers of Commerce, Industry & Agriculture 78

Mauritania

Chambre de Commerce, d’Industrie et d’Agriculture de Mauritanie 78

Morocco

Fédération des Chambres Marocaines de Commerce, d`Industrie et de Services 78

Oman

Oman Chamber of Commerce and Industry 78

Palestine

Federation of Palestinian Chambers of Commerce, Industry & Agriculture 78

Qatar

Qatar Chamber of Commerce and Industry 79

Somalia

Somali Chamber of Commerce and Industry 79

Sudan

Sudanese Businessmen and Employers Federation 79

Syria

Federation of the Syrian Chambers of Commerce 79

Tunisia

Union Tunisienne de l’Industrie, du Commerce et de l’Artisanat 79

United Arab Emirates (U.A.E.)

Federation of UAE Chambers of Commerce & Industry 79

Yemen

Federation of Yemeni Chambers of Commerce and Industry 79

86

COUNTRY PROFILES

Algeria 94Fact File 94

Hydrocarbons Sector 94

Population & Labour Market 94

Economic Reforms & Liberalisation 95

Foreign Trade 95

Investment 96

Long-term Growth Forecast 97

Telecoms 97

Tourism 97

Agriculture 97

Bahrain 98Fact File 98

Reforms 98

Industries 98

Imports 99

Exports 99

Banking 99

ICT 100

Tourism 100

Construction 100

Outlook 100

Comoros 102Fact File 102

Geography 102

Demography 103

Economic Outlook 103

Trade 103

Reforms 104

Tourism 104

Media 104

Banks 105

Djibouti 106Fact File 106

Economy 106

Investment 107

Agriculture & Fishing 107

Reforms 107

Energy & Water Sector 108

Banking & Finance 109

Egypt 110Fact File 110

Population 110

Economy 110

Reforms 111

Oil & Gas 111

Banking Sector 112

Insurance Sector 112

Tourism 112

Construction & Real Estate 113

Investment 113

IT & Telecoms

Ind

ex

87

Iraq 114Fact File 114

Economy 114

Reforms 115

Construction & Infrastructure 115

Energy 116

Industry 116

Banking Sector 116


Agriculture, Food & Fisheries 117

Outlook 117

Jordan 118Fact File 118

Reforms 118

Investment 118

ICT & Health Sector 120

Transport 120

Trade Relations 121

Kuwait 122Fact File 122

Economy 122

Oil & Petroleum 122

Banking Sector 122


Health Sector 124

Power & Water 124

Agricultural Sector 124

Trade 124

Foreign Direct Investment 125

Lebanon 126Fact File 126

Financial Sector 126


Tourism 128

Energy Sector 128

Communications & IT 128

Investment 129

Libya 130Fact File 130

Economy 130

Investment 130

Imports 131

Exports 132

Energy Sector 132

Telecommunications 133

Tourism 133

Retail Sector 133

Privatisation 133

88

Mauritania 134Fact File 134

Fishing 134

Agriculture 134

Telecommunications & New Technologies 135

Mining 135

Manufacturing 136

Tourism 136

Banking & Finance 137

Exports 138

Other Sector 138

Morocco 140Fact File 140

Highlights 140

Banking 140

Tourism 141

Infrastructure 142

Agriculture 143

Energy Sector 143

Oman 144Fact File 144

Economic Outlook 145

Power & Water 145

Oil & Gas 145

Transport & Communications 145

Tourism & Real Estate 146

Industrial Sector 146

Palestine 148Fact File 148

Economy 148

Agriculture 149

Construction 150

Telecoms 150

Outlook 151

Qatar 152Fact File 152

Real Estate & Construction 152

Transport 153

Tourism 153

Attracting Talent 153

Research & Development 154

Telecoms 154

Free Zones 155

Environment 155

Saudi Arabia 156Fact File 156

Oil & Gas 156

Banking Sector 157

Trade 157

Non-Oil Spending 157


Petrochemicals 158

Power & Water 158

Telecoms 159

Transport 159

Tourism 159

Ind

ex

89

Somalia 160Fact File 160

Economy 160

Agriculture 161

Telecoms 162

Mineral Resources 162

Reconstruction 163

Sudan 164Fact File 164

Economy 164

Oil & Gas Sector 164

Agriculture 165

Boosting Exports 166


Telecoms 166

Syria 168Fact File 168

Overview 168

Oil & Gas 168

Agriculture 168

Pharmaceuticals 169

Tourism 169

Telecoms 169

Banking & Financial Sector 171

Tunisia 172Fact File 172

Trade with Europe 172

Human Resources 173

Tourism 173



Fisheries 175

United Arab Emirates 176Fact File 176

Oil & Gas 176

Construction 176

ICT 177

Free Zones 178

Tourism 178

Agriculture 179

Yemen 180Fact File 180

Oil & Gas 181

Electrical Power 181

Tourism 181

Infrastructure 182

Fisheries 182

Agriculture 182

Education 183

COUNTRY PROFILESBASIC SELECTED INFORMATION ON ARAB COUNTRIES

ALGERIA BAHRAIN COMOROS DJIBOUTI EGYPT IRAQ JORDAN KUWAIT LEBANON LIBYA MAURITANIA MOROCCO OMAN PALESTINE QATAR SAUDI ARABIA SOMALIA SUDAN SYRIA TUNISIA UAE YEMEN

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CONTENTS

Algeria (DZ) 94

Bahrain (BH) 98

Comoros (KM) 102

Djibouti (DJ) 106

Egypt (EG) 110

Iraq (IQ) 114

Jordan (JO) 118

Kuwait (KW) 122

Lebanon (LB) 126

Libya (LY) 130

Mauritania (MR) 134

Morocco (MA) 140

Oman (OM) 144

Palestine (PS) 148

Qatar (QA) 152

Saudi Arabia (SA) 156

Somalia (SO) 160

Sudan (SU) 164

Syria (SY) 168

Tunisia (TN) 172

UAE (AE) 176

Yemen (YE) 180

94

COUNTRY NAME: People’s Democratic Republic of Algeria

LAND AREA: 2,4 million km2

POPULATION: 35 million (2010 est.)

LANGUAGE: Arabic (official), French (commercial)

CURRENCY: 1 Algerian Dinar (DZD) = 100 Santeem 1 EUR = 100 DZD (Nov. 2010)

MAIN CITIES: Algiers (Capital), Oran, Constantine, Annaba, Setif

NATIONAL DAY: 1 November – Revolution Day

TIME ZONE: Standard Time is GMT + 1

ALGERIA

DZ

Algeria is a gateway between Africa and Europe; the Sahara desert which covers more than four-fifths of its land. Algeria is a large country with substantial mineral resources, but limited fertile land. Its population is around 34 million, making it the second-most populous country in North Africa after Egypt. It is classified as a lower-middle-income country, with a GDP per head of just over $8,000 (measured using purchasing power par-ity—PPP—exchange rates) in 2008, slightly above the average for North Africa.

Algeria has emerged from a decade of debilitating civil

war in the early 2000s. During the confl ict, when the

country was mostly isolated from the rest of the world,

the economy was supported by the hydrocarbons sector,

which, insulated from the violence, managed to attract

considerable foreign investment.

The high oil prices in recent years have helped improve

Algeria’s fi nancial and macroeconomic indicators. Algeria

has decreased its external debt to less than 5% of GDP

after repaying its Paris Club and London Club debt in

2006. Algeria’s real GDP also has risen due to higher oil

output and increased government spending.

Foreign trade and most non-energy prices have been

liberalized and private sector activity has been on an

upward trend. However, exports have barely diversifi ed

away from the volatile hydrocarbon sector. The govern-

ment will continue to rely primarily on public invest-

ment to achieve its aims of creating jobs, improving the

provision of housing and utilities and developing non-

hydrocarbons industry and the service sector. Actual

capital spending has increased signifi cantly over the past

few years, and the government plans to maintain this

momentum though implementing a US$150bn develop-

ment programme for 2009-13. Vested interests continue

to obstruct economic diversifi cation in many areas of

the economy, such as import concessions, public-

sector fi rms and the state-owned oil and gas company

“Sonatrach”.

Hydrocarbons Sector

The hydrocarbons sector is the backbone of the

economy, accounting for roughly 60% of budget reve-

nues, 30% of GDP, and over 95% of export earnings.

Algeria also has the eighth-largest reserves of natural

gas in the world and is the fourth-largest gas exporter;

it ranks 15th in oil reserves. Algeria’s deposits of gold,

uranium, zinc, iron and other minerals are also substan-

tial. However, the dominant position of the hydrocarbons

sector makes the Algerian economy highly sensitive to

fl uctuations in international oil prices and in output.

Population & Labour Market

Over the past two decades, Algeria, like most of the coun-

tries in the Middle East and North Africa, has experienced

a rapid increase in population that has left the country with

a very young demographic profi le. This means that for the

next 15 years or so, the working-age population will grow at

a higher rate than the overall population.

The EIU forecasts that average working-age population

growth rate will be 2.2% in 2009-13. However, the propor-

tion of Algerians in the 0-14 age bracket is starting to fall,

ALGIERSALGIERS

95

which will result in a slowdown in the rate of growth of the

working age population compared with the previous five

years.

With regards to unemployment, official figures indicate that

unemployment has fallen significantly since the start of the

current decade, suggesting that the surge in government

investment, which was initiated in 2002 and which is set to

accelerate over the forecast period, may have had a posi-

tive impact. The unemployment rate at end-December 2008

was officially estimated at 11.3%, compared with 11.8% 12

months earlier and almost 30% at the start of the decade.

Economic Reforms & Liberalisation

During the last three decades, Algeria began with a

strategic plan to diversify its economy and sources of

income. However, for most of the 1990s the country

suffered from severe political and economic difficulties,

and the liberalization process and economic reforms was

resumed after President Abdelaziz Bouteflika’s re-election

for a third term in April 2009. Algeria is now is undertaken

various reforms to shift the economy from a planned to a

market economy.

Algeria has courageously over the past decade attempted

to modernize its financial system despite challenges

posed by the large hydrocarbon sector. Privatization of

state-owned industries provides significant transaction

and advisory opportunities for investment banks and

professional service firms. Algeria’s more stable macro-

economic framework and financial balances have helped

to implement the reforms. The government is moving

steadily to open up the financial sector to foreign inves-

tors. The banking sector is set to be reformed gradually,

but the process is likely to be haphazard.

With regards to tax, the International Monetary Fund (IMF)

is offering helpful advice on economic policy and recent

progress made towards strengthening tax administration

and simplifying the tax system has been welcomed by the

Fund. Over the last decade, Algeria has initiated impor-

tant reforms towards reducing exemptions, improving

VAT design, and eliminating the turnover tax.

The IMF has stressed the need for sustained further

implementation of financial sector reforms to improving

the business climate and enhancing private-sector led

growth. The IMF recommended the strengthening the

role of private banks, and improvements of the country

bank governance and risk management. Algeria banking

system is now progressively transitioning to get to par

with that of the rest of the world although commer-

cial banking and insurance sectors in Algeria remain

underdeveloped.

Foreign Trade

Algeria is running substantial trade surpluses and building

up record foreign exchange reserves. Sharp rises in crude

Algeria

oil prices few years ago have pushed up total export

earnings dramatically in recent years. In 2008 export

revenue rose by one-third year on year to $78.2bn.

However, the trade surplus increased by only 14% to

$39.1bn, as buoyant domestic demand boosted imports.

The bulk of Algeria’s foreign trade is oil exports to the

US and gas exports to the European Union, while most

imports originate in the EU, a pattern that will be remain

during the following years. Algeria has a free trade agree-

ment with the EU and is seeking to expand its trading

relations with the UK and other EU member states

beyond its traditional trading partner, France.

Investment

Investment prospects shows that the largest share

of opportunities will continue to be concentrated in

the hydrocarbons sector—both upstream and down-

stream—which is better managed than other areas of the

economy and more receptive to foreign involvement. The

final amendments to the hydrocarbons law have recently

been passed, which at least broadly clarifies the terms

that foreign investment in this sector will face over the

following few years. Other openings for investors in utili-

ties, including power and water management, housing,

construction and telecommunications is also expected

to continue to expand, leading to more broad-based

growth opportunities in the few years to come, despite

the government’s recent changes in policy that limit the

share that foreign investors can hold in joint ventures.

Greenfield investments, which can be wholly owned, will

remain an attractive opportunity. Moreover, provided

investors are prepared to be patient, they will often be

able to negotiate with the government on a case-by-

case basis and possibly obtain more than 50% in joint

ventures, especially outside the oil and gas sector.

Structural reform within the economy, such as devel-

opment of the banking sector and the construction of

infrastructure, moves gradually ahead, attracting foreign

and domestic investment outside the energy sector.

Moreover, the tax regime is gradually being reformed in a

bid to increase flexibility and transparency and to simplify

the system. Foreign investors benefit from tax incentives,

including five-year tax relief for companies investing in

new projects, but since the beginning of 2009 will have to

reinvest these benefits and pay a 15% tax on repatriated

profits. Algeria’s score in the EIU’s business environment

rankings improves in the forecast period (2009-13), taking

its global ranking to 70th position from 76th.

EU direct investors into the manufacturing industries

enjoy the benefits of a large pool of cheap labour, as

well as preferential access to the EU investors in compli-

ance with Algeria’s Association Agreement with the

EU. A range of tax breaks are also on offer. Algeria also

expected the broader market access will increase further

if the country joins the World Trade Organisation.

DZ

96

97

Algeria

Alg

eria

Long-term Growth Forecast

The government considers that it has sufficient funds

saved from its large budget surpluses over the past five

years to render this expansionary medium-term fiscal

policy sustainable, provided that oil and gas prices do

not weaken significantly from 2009 levels. The Economic

Intelligence Unit (EIU) predicts that Algeria’s current

account will remain in surplus throughout the forecast

period, (2009-2013) owing to healthy hydrocarbons

receipts. The surplus will narrow, though, from a peak

of 22% of GDP in 2008 to around 7.5% of GDP in 2009-

13. EIU forecasts that expansion in the hydrocarbons

sector and in government spending will push up real

GDP growth to around 6.3% in 2013, following sluggish

growth in 2008-10.

Algeria’s real GDP growth is forecast to accelerate from

a moderate annual rate of 3.3% in 2009-10 to an average

of 5.7% in 2011-20, before picking up slightly to 6.1%

in 2021-30. This will help push GDP per head towards

$35,670 (measured using PPP rates) by 2030. Crucially,

this forecast assumes that Algeria will largely escape the

worst aspects of the “natural resource curse” that tends

to affect primary commodity exporters.

Telecoms

Privatisation of Algeria’s telecommunications sector

began in 2000 since which three mobile cellular licenses

were issued and, in 2005, a consortium led by Egypt’s

Orascom Telecom won a 15-year license to build and

operate a fixed-line network; the license allows Orascom

to develop high-speed data and other specialized

services and contribute to meeting the large unfulfilled

demand for basic residential telephony. Meanwhile,

internet broadband services began in 2003 with approxi-

mately 200,000 subscribers by 2006.

Tourism

Algeria’s tourism industry has great potential and has set

itself the aim of boosting tourists to 2.5mn a year. The

country possesses remarkable world class archaeological

sites from the Roman and Phoenician eras (including

seven UNESCO World Heritage sites) and a long stretch

of Mediterranean coastline. However, facilities for tourists

are limited. For example, there are few international stan-

dard hotels. Algeria is now keen to upgrade its tourism

product in order to take a greater share of the global

tourism market. Algeria aims to see an increase in hotel

capacity and welcomes ideas to boost visitor numbers. A

tourism development master plan for the year 2025 has

been drawn up which identified areas where there are

weaknesses in the sector such as quality of service, poor

infrastructure and administrative obstacles. As part of the

plan, personnel in the hotel trade and tourism sector will

receive better training through public-private partnership

to upgrade their skills to meet international standards.

Agriculture

Large stretches of Algeria are richly fertile making for

a thriving agricultural sector employing some 9.4% of

the working population. Main crops include olives and

tobacco. More than 30,000 km² of land is devoted to the

cultivation of cereal grains. The Tell is the main grain-

growing land where the principal cereal crops raised are

wheat, barley and oats. Many varieties of vegetables and

fruits are grown for export. Algerian figs, dates, olives

and olive oil, esparto grass and cork are also exported.

The deglet nour variety of dates is a major export product

for Algeria largely destined for the European market

where it is popular among consumers. The country is

the world’s second largest producer of these dates after

Tunisia. The date has been described by the agriculture

ministry as a “flagship product for Algerian agricultural

exports”.

98

COUNTRY NAME: The Kingdom of Bahrain

LAND AREA: 660 km2

POPULATION: 738,000 (2010 est.)

LANGUAGE: Arabic (official), English (commercial)

CURRENCY: 1 Bahraini Dinar (BHD) = 1000 Fils 1 EUR = 0.51 BHD (Nov. 2010)

MAIN CITIES: Manama (capital), Muharraq, Isa Town, Ar-Rifa

NATIONAL DAY: 16 December


BAHRAIN

BH

Bahrain’s strategic geographical position has made it a natural trading hub throughout its long history. Historically, Bahrain had long played a key role in the Gulf and now is becoming one of the region’s most dynamic and accessible econo-mies. For much of the 18th and early 19th century the country was also important as a pearl-fishing centre.

The discovery of oil in Bahrain in the 1930s has

enabled the creation of an attractive and modern infra-

structure, an elegant skyline, luxury hotels, a bustling

international airport, excellent roads and telecommu-

nications and a thriving port. But the island’s reserves

of oil proved to be small by comparison with its Gulf

neighbours, although it remains the main motor of

growth. This has forced Bahrain down the path of

economic diversifi cation. With its highly developed

communication, fi nancial services and transport facili-

ties, Bahrain is home to numerous multinationals with

business in the Gulf.

The relatively liberal social climate has stimulated

tourism, attracting, particularly, residents from nearby

Saudi Arabia. These activities have been comple-

mented by the development of a signifi cant industrial

base, for which Aluminium Bahrain (Alba) is a corner-

stone. Bahrain is highly dependent on regional demand

for its services and goods exports.

Bahrain has an extremely low-tax environment. There

is no corporation tax, and there has traditionally been

no income tax, although from June 2007 employees

pay 1% of their salaries into a national unemployment

insurance scheme, a fi gure that employers match.

There is also a 10% municipal tax on rents and a 3%

levy on all hotel bills.

Reforms

Efforts towards economic reform are driven by the need

to diversify the economy away from oil (as output is

declining), stimulate private-sector growth and foreign

investment, and address high unemployment among

nationals. The state’s ability to upgrade its infrastructure

and invest in education will be constrained by the depen-

dence of the public fi nances on oil revenue.

With the private sector continuing to depend on expa-

triate labour, unemployment among Bahraini nationals will

remain a key social and political concern for the authori-

ties. The public sector is relatively small for a GCC state,

accounting for only one in 11 jobs, and so can absorb

only a limited number of entrants to the labour market. In

an effort to boost employment in the private sector, the

government will continue to implement “Bahrainisation”

policies, setting quotas on the number of expatriates who

can work in any given sector.

Industries

Because of the small scale of its hydrocarbons reserves,

Bahrain was ahead of its GCC counterparts in seeking

to diversify the local economic base away from energy

dependence. Factors such as labour costs, energy costs,

taxes and transport infrastructure, played signifi cant roles

in making Bahrain increasingly attractive to manufacturing

businesses. In the 1970s and early 1980s it invested

MANAMA

heavily in industrial infrastructure. Bahrain is home to Alba,

one of the world’s largest aluminium smelters, producing

the highest grade material. This creates significant oppor-

tunities in downstream aluminium manufacturing, such as

in the automotive, aviation and other precision engineering

sectors.

Bahrain has also developed production of petrochemicals

and iron and steel, as well as aluminium-based industries

and ship repair at the Arab Shipbuilding and Repair Yard

(ASRY).

A study from Porsche Consulting identified clear cost and

operating advantages in Bahrain for a number of segments

in the automotive sector, including high-performance car

assembly and precision-engineered automotive compo-

nents. The presence in Bahrain of the international Formula

1 circuit has also led to the creation of world-leading

centre for engineering and design excellence.

Imports

Bahrain remains the most import-dependent of all the Gulf

Co-operation Council (GCC) states, although this is in

part because it imports substantial quantities of crude oil,

which it refines and exports at a profit. However, Bahrain is

actively pursuing the diversification and privatization of its

economy to reduce the country’s dependence on oil.

Exports

Petroleum production and refining account for over 60%

of Bahrain’s export receipts, over 70% of government

revenues, and 11% of GDP (exclusive of allied indus-

tries), underpinning Bahrain’s strong economic growth in

recent years. Aluminium is the second major export after

oil. Other major segments are the financial and construc-

tion sectors. Bahrain is focused on Islamic banking and

is competing on an international scale with Malaysia as a

worldwide banking centre.

Banking

The island has emerged as the region’s principal offshore

banking hub and also as an important centre for insur-

ance and Islamic banking. Services constitute the bulk of

GDP, reflecting Bahrain’s success in exploiting its loca-

tion to become an important services and distribution

centre for the Gulf.

Bahrain’s financial sector is the largest single contributor

to GDP, accounting for 27.5% of total Bahrain GDP. In

fact, finance is now the most important sector of the

economy. Financial services are regulated by the Central

Bank (formerly the Bahrain Monetary Agency), which has

built a good reputation as an effective banking regulator

– a key national asset in the current international climate.

The Central Bank of Bahrain is considered to be one of

the region’s most progressive regulators, and has helped

develop the country’s reputation as an international

finance centre. The CBB capitalized on its position as one

of the first Gulf States to begin diversifying away from oil

and into financial services.

Bahrain’s regulatory environment, low start-up costs

and lack of any limitations on foreign ownership have

made it a destination for banks looking to establish

themselves in the region. Bahrain is now a leading inter-

national finance centres, home to more than 400 licensed

financial services institutions, representing a rich mix of

recognisable international, regional and local names. In

addition to traditional banking, Bahrain also became the

leading centre for Islamic finance. The first Islamic bank

in Bahrain was established in 1979, when Bahrain Islamic

Bank was licensed.

Bahrain

99

100

ICT

Bahrain is an obvious choice for ICT businesses wishing

to locate in the Gulf because of low office lease rates,

excellent broadband and telecoms connections and

lower labour costs than our neighbours. Significant

investment has been undertaken to provide a highly-

developed technology infrastructure. A growing demand

for ICT products and services is a natural consequence

of Bahrain’s strong growth in other sectors. Firms

already present in Bahrain include ICT software compa-

nies such as Software AG of Germany and three of

India’s largest IT companies, Satyam, TCS and WIPRO.

Tourism

Bahrain’s heritage as a cultural and trading centre dates

back more than four millennia making it an attractive

place to visit. Tourism is increasingly becoming the

focus of investment in the kingdom’s drive to diversify

its economy. Bahrain offers great potential as both a

regional and a world tourist destination, blessed with 33

islands, a cosmopolitan capital city; an attractive, liberal

lifestyle; and a rich history and culture. There were

over six million visitors to Bahrain in 2008. The Island

was known as Dilmun, and home to an ancient trading

civilisation. Dilmun’s capital was a major port whose

remains are still visible at the UNESCO World Heritage

Site of Bahrain Fort (Qal’at al Bahrain). The Kingdom is

mentioned in one of the world’s oldest works of litera-

ture – the Epic of Gilgamesh, where the island was

home to the source of eternal youth.

Construction

Many new development projects are opening in Bahrain

to provide residential, business and recreational facili-

ties. These include Bahrain Bay, City Centre Mall, Al

Areen, Amwaj Islands and Durrat Al Bahrain which

are now opening up Bahrain to a wider market and

attracting more visitors. The billion-dollar Al Areen

development furthers Bahrain’s reputation as a friendly

destination for family and health-oriented tourists.

Phase one includes the Banyan Tree Desert Spa and

Resort, the largest spa in the Middle East, and the state-

of-the-art ‘Lost Paradise of Dilmun’ Water Park. The

development will comprise five-star hotels, residential

villages, entertainment and recreational facilities, shop-

ping centres and the Al Areen Wildlife Park.

Durrat Al Bahrain is the Kingdom’s largest luxury resi-

dential, commercial and tourist resort development.

Costing $6bn, it consists of The Islands, six ‘Atolls’ and

five ‘Petals’, with 1,800 luxury residential villas; and The

Crescent dining, shopping and entertainment resort.

There will also be an 18-hole golf course designed by

Ernie Els, and one of the region’s largest marinas, with

400 berths across three islands. Attracted by these

prestige projects more major hotel groups are setting

up such as Four Seasons, Kempinski and Renaissance,

joining those already established like Ritz-Carlton, Sher-

aton, Radisson, Novotel, Marriott and Banyan Tree.

Outlook

The EIU forecasts that Bahrain’s real GDP growth is

projected to slow to an annual average of 3.3% in 2009-

13, from the very high estimated annual average of 7%

in 2004-08. This is mainly because of a more subdued

outlook for global and regional growth, and for the

global financial sector, particularly in the early part of

the forecast period, following recent financial turmoil.

This will constrain the growth of Bahrain’s exports of

goods and services, a vital source of overall economic

growth given the small size of the domestic market,

with Bahrain having just over 1m residents. In general,

the private sector will benefit from a rapid expansion in

construction over the forecast period, notably in road-

building, power and water projects, tourism and retail

infrastructure, and housing. Private firms will also gain

an increasing role in areas formerly managed by the

state.

BH

101

Bahrain

Bah

rain

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102

COUNTRY NAME: Union of the Comoros

LAND AREA: 2,240 km2


LANGUAGE: Comorian, Arabic, French

CURRENCY: 1 Comoros Franc (KMF) = 100 Centimes (not issued) 1 EUR = 491 KMF (Nov. 2010)

MAIN CITIES: Moroni (capital), Fomboni, Tsimbeo, Domoni

NATIONAL DAY: 6 July


COMOROS

KM

MORONI

The Comoros, officially known as the Unionof the Comoros, comprises a group of islandsin the Indian Ocean, off the eastern coast ofAfrica on the northern end of the MozambiqueChannel between northern Madagascar andnorth-eastern Mozambique. The Comoros has a diverse culture and history, as a nation formed at the crossroads of many civilizations.

Much of the land area is mountainous and made up of

lava-encrusted soil that is unsuited to agriculture. Never-

theless, subsistence agriculture and fi shing involves

more than 80% of the population and represents 40%

of the country’s gross domestic product, providing virtu-

ally all foreign exchange earnings. Plantations engage

a large proportion of the population in producing the

islands’ major cash crops for export: vanilla, cloves,

perfume essences, and copra. Comoros is the world’s

leading producer of essence of ylang-ylang, used in the

manufacturing of perfume. It also is the world’s second-

largest producer of vanilla. Principal food crops are

coconuts, bananas, and cassava. It is not self-suffi cient

in food and foodstuffs constitute 32% of total imports.

Service sectors that are important include tourism,

construction and commercial activities. Money sent

home by Comorans working abroad provides a vital

source of revenue.

The government is endeavouring to upgrade educa-

tion and technical training, to privatise commercial and

industrial enterprises, to improve health services, to

diversify exports, to promote tourism, and to reduce the

high population growth rate.

Some villages are not linked to the main road system

or are at best only connected by tracks usable only by

four-wheel-drive vehicles.

Ports are rudimentary, although a deepwater facility

functions in Anjouan. Only small vessels can approach

the existing quays in Moroni on Grande Comore, despite

improvements. Long-distance, ocean-going ships must

lie offshore and be unloaded by smaller boats; during

the cyclone season, this procedure is dangerous, and

ships are reluctant to call at the island. Most freight is

sent fi rst to Mombasa or the island of Reunion from

where they are transshipped.

France, Comoros’ major trading partner, fi nances small

development projects. Comoros has an international

airport at Hahaya on Grande Comore.

Geography

Comoros is endowed with numerous picture postcard

beaches that make its potential for tourism consider-

able, but development has been impeded by recent

political instability and numerous coups. Three main

islands in the volcanic Comoros archipelago: Grande

Comore, Moheli and Anjouan. The Comoros also claims

the French controlled island of Mayotte (aka. Mahoré).

The Comoros has a diverse culture and history and

three offi cial languages—Comoran (Shikomor), Arabic,

and French. It is the only state to be a member of the

African Union, the Francophonie, the Organization of

the Islamic Conference, the League of Arab States and

the Indian Ocean Commission. In 2007, the Comoros

joined the Community of Sahel-Saharan States

(CEN-SAD).

103

Comoros

At 2,235 km², the Comoros is the third smallest African

nation by area, and one of the smallest in the world,

and with a population estimated at 798,000 it is also the

sixth smallest African nation by population. Its name

derives from the Arabic word qamar (“moon”), which

explains to symbol depicted on its flag.

Demography

Population figures for the islands vary considerably.

According to UN figures, Comoros has a population of

around 800,000, with an average projected increase of

2.5 percent between 2004 and 2015. Comoros is more

densely inhabited than many other sub-Saharan coun-

tries, putting severe strain on its limited farmland, water

and firewood; 34 percent of the population dwelling in

urban areas. There is an average of 275 people per km².

Economic Outlook

An International Monetary Fund mission team visited

the capital Moroni in June 2009 to assess the coun-

try’s performance under the Emergency Post-Conflict

Assistance (EPCA) programme and to discuss a new

programme that could be supported by the IMF under the

Poverty Reduction and Growth Facility (PRGF).

The IMF met with the President of the Union, the Gover-

nors of the three island entities, the Minister of Finance

of the Union and the Governor of the Central Bank

of Comoros. Key objectives are to re-establish fiscal

stability by containing the domestic primary budget

deficit below 1 percent of GDP per year, and raising

total revenue to 14.3 percent of GDP by 2012. Structural

reforms, including reforms of public utilities, would aim to

raise economic growth to around 2 ½ percent per annum

during the period 2010-12. The IMF welcomed recent

progress in preparing reform strategies for the Comoros

Hydrocarbons Company (SCH) and Comores Telecom;

and in initiating preparations for a reform strategy for

the electricity parastatal. Looking ahead, the IMF said

decisive implementation of the reforms will be important

to foster sustained strong growth and achieving faster

poverty alleviation.

Trade

Major imports include basic foodstuffs, mainly rice, some

consumer goods, as well as petroleum products, cement

and transport equipment. The main export partners are

the US, France, Singapore and Turkey. Imports partners

104

KM

are France, South Africa, the UAE, Kenya, Italy, Mauritius

and Singapore. Traditionally, France has been the main

trading partner for Comoros and remains so today with

France providing almost half of the imports and taking

two-thirds of exports. Britain’s trade links with Comoros

are minimal.

Reforms

After nearly a decade of political turmoil, significant

progress has been achieved with national reconcili-

ation and inter-island cooperation over recent years.

Political tensions have obstructed the implementa-

tion of coherent policy reforms and severely impeded

economic progress, particularly effecting investment,

tourism and growth of the private sector. Comoros

continues to follow IMF recommendations on imple-

menting policies conducive to the restoration of confi-

dence, including revenue-sharing, joint administration

of the customs office, and the transfer of spending

competencies to the island governments. However,

much needs to be done to reform the civil service and

the budget process.

Tourism

Comoros considers the tourism sector to be a potentially

important source of higher economic growth. Tourism in

the region has generally increased in recent years, but

Comoros has been the exception because of its political

instability. Reestablishing air links, simplifying visa proce-

dures, and promoting the Comoros as a destination for

specialized tourism could herald a recovery in tourist

arrivals and revive hotel infrastructure.

Media

There is no national newspaper in Comoros; the leading

regional paper is Al-Watwan published on Grande

Comore; Kwezi is also published on Mayotte. There

is a Radio Comoros and a Comoros National TV both

providing nationwide services.

105

Comoros

Co

mo

ros

Banks

The country’s banking system consists of the Central

Bank of Comoros (Banque Centrale des Comores) estab-

lished in 1981; the Bank for Industry and Commerce

(Banque pour l’Industrie et le Commerce-BIC), a

commercial bank established in 1990 that had six

branches in 1993 and was a subsidiary of the National

Bank of Paris- International (Banque Nationale de

Paris-Internationale); BIC Afribank, a BIC subsidiary;

and the Development Bank of Comoros (Banque de

Développement des Comores), established in 1982,

which provided support for small and medium-sized

development projects. Most of the shares in the Devel-

opment Bank of Comoros were held by the Comoran

government and the central bank; the rest were held by

the European Investment Bank and the Central Bank for

Economic Cooperation (Caisse Centrale de Coopéra-

tion Économique-CCCE), a development agency of the

French government. All of these banks had headquarters

in Moroni.

106

COUNTRY NAME: Republic of Djibouti

LAND AREA: 23,200km2


LANGUAGE: Arabic, French

CURRENCY: 1 Djibouti Franc (DJF) = 100 Centimes 1 EUR = 240 DJF (Nov. 2010)

MAIN CITIES: Djibouti (capital), Dikhil, Tadjoura, Obock, Khor Angar

NATIONAL DAY: 27 June


DJIBOUTI

The Republic of Djibouti is located strategically at the foot of the Red Sea. Its capital is Djibouti-Ville or Djibouti city. Djibouti is one of the region’s poorest countries, not only lacks resources, but faces a severe climate that is a serious obstacle to development. Djibouti’s location is its main economic asset given its mostly barren land-scape. The capital’s port handles all the major imports and exports into landlocked Ethiopia and Djibouti is an expanding shipping hub on one of the busiest maritime trade routes in the world. It is a major dropping point for World Food Pro-gramme and USAID supplies, which are trans-ported by road or rail to Ethiopia’s capital, Addis Ababa. Meanwhile, Ethiopia’s cash crop, coffee, is exported in bulk from Djibouti.

Economy

Apart from substantial salt deposits, there are few other

natural resources of signifi cance in the country. Djibou-

ti’s economy depends largely on its proximity to the large

Ethiopian market and a large foreign expatriate commu-

nity. Its main economic activities are the Port of Djibouti,

the banking sector, the airport, and the operation of the

Addis Ababa- Djibouti railroad. Djibouti’s main industry

is mineral water bottling plant, leather tanning, construc-

tion, pharmaceuticals factory, abattoirs, salt mining,

and one petroleum refi nery. Djibouti’s most important

economic asset is its strategic location on the busy

shipping route between the Mediterranean Sea and the

Indian Ocean. The trans-shipment trade through the port

is the mainstay of the economy and creates at least 70%

of GDP. The capital has the only paved airport in the

republic. In addition, Djibouti has one of the most liberal

economic regimes in Africa, with almost unrestricted

banking and commerce sectors. Djibouti is a free-trade

zone. Port activity and related services constitutes the

main commercial activities, in addition to a small tourist

industry.

Agriculture remains poorly developed, due to harsh

climate, high production costs, unskilled labour, and

limited natural resources. Agriculture is extremely

small and generates 3.2% of GDP. Local farmers are

only able to produce around 3% of the country’s food

needs. The great bulk of the requirements therefore

must be imported. In recent years, Djibouti has sought

to increase food production by developing its fi shing

industry, including the construction of a fi sh canning

factory fi nanced by the Islamic Development Bank. It has

also sought to increase the effi ciency of agricultural land

through irrigation projects, but with limited success.

Manufacturing is small and the industry that exists is

small-scale. The mineral deposits that exist are minimal

and the arid soil is unproductive – around 89% is desert,

10% pasture, and 1% forested. However, services and

commerce provide most of Djibouti’s gross domestic

product. The economy is therefore based on service

activities and highly dependent on international aid. The

service sector is connected with the country’s strategic

location and status as a free trade zone in the Horn of

Africa. Djibouti provides services as both a transit port

for the region and an international trans-shipment and

refuelling centre. Imports and exports from Ethiopia

represent 85% of port activity at Djibouti’s container

DJ

DJIBOUTI-VILLE

107

Djibouti

terminal. Principal exports from the region transiting

Djibouti are coffee, salt, hides, dried beans, cereals,

other agricultural products, and wax. Djibouti itself has

few exports, and the majority of its imports come from

France. Most imports are consumed in the country, but

others are re-exported to Ethiopia and north-western

Somalia.

Investment

The UAE is one of the countries carrying out ambitious

investment projects to turn Djibouti into Africa’s biggest

shipping terminal, in a project that aims to extend its

commercial reach throughout East Africa. The inte-

grated business plan aims to transform Djibouti into an

elite tourist destination.

The 1000 km Addis Ababa-Djibouti railroad is the only

line serving central and south-eastern Ethiopia. The

single-track railway occupies a prominent place in

Ethiopia’s internal distribution system for domestic

commodities such as cement, cotton textiles, candles,

small rocks, coconuts, sugar, cereals and charcoal. The

European Union is helping to finance the modernisation

of this important asset.

Agriculture & Fishing

As stated, the country’s agricultural sector is inhibited

by a very inhospitable climate and one of the most

unproductive terrains in Africa. Local farmers are only

able to produce around 3% of the country’s food

needs. The great bulk of the requirements therefore

must of necessity be imported. In recent years, Djibouti

has sought to increase its food production by devel-

oping its fishing industry, including the construction of

a fish canning factory financed by the Islamic Develop-

ment Bank. It has also sought to increase the efficiency

of agricultural land through the development of irriga-

tion projects, but with limited success.

Reforms

Djibouti has also been making recent progress in imple-

menting structural reforms, the IMF points out. The

economy however still very much depends on a large

foreign expatriate community, the maritime and commer-

cial activities of the Port of Djibouti, its airport, and the

operation of the Addis Ababa-Djibouti railroad. Djibouti’s

macroeconomic environment has improved significantly

over the last few years. Annual real GDP growth accel-

erated from an annual average of 3% in 2001-05 to to

6% in 2008 onwards. This growth was mainly driven by

large foreign domestic investments in the port, tourism,

and construction sectors, the IMF reports. Investment as

share of GDP doubled within two years, reached 40% in

2007. After remaining stagnant for several years, credit to

the private sector increased by 23%, owing in part to a

real estate and construction boom.

108

DJ

Energy & Water Sector

The World Bank is preparing a $7 million International

Development Association (IDA) credit to back a $10

million project to reform Djibouti’s power and water

sector. The funding will permit exploration of the poten-

tial for renewable power for the country’s Obock area;

the Djibouti Ville distribution network and what will be

Djibouti’s first wind farm; funds are also earmarked to

cover a 2MW plant serving Ali Sabieh and Dikhil.

Meanwhile, state-owned “Electricité de Djibouti” is

planning a 30MW geothermal BOO plant for Lake Assal

costing an estimated $115 million following the carrying

out of a feasibility study by US firm Geothermal Devel-

opment Associates.

Djibouti receives assistance from the World Bank to

develop its national energy strategy. In this regard, the

Bank drew up an inventory of all sources of energy used

by households, including quantities, costs and demand

for electricity services and amenities. Local people face

high tariffs and low levels of access to electricity. The

connection rate in the country is below 30%. Although

a variety of energy sources could be made available,

kerosene and electricity account for 79% of all energy

consumed in Djibouti at present. Poorer households

spend 13.5% of their total expenditure on energy,

compared to 5.3% for better off citizens in the capital

Djibouti-ville.

Kerosene is the most important source of energy for

cooking and lighting because it is the least expensive

option. However, kerosene costs have been rising at

a rate of 2.3% per year. The poor have responded to

these higher costs by increasing use of wood fuel and

charcoal, though both resources are scarce. Clearly, in

the long term this is not an environmentally sustainable

option. 58% of households have access to electricity,

some resort to illegal connections partly because of high

costs.

The World Bank’s policy recommendations include:

reducing the cost of kerosene by revising surtaxes,

reviewing the price structure of liquefied petroleum

gas, and promoting access to 3 or 6 kilogram bottles

to expand the range of affordable and better energy

services; and promoting energy efficiency.

The energy and water sectors are key bottlenecks to

poverty alleviation in Djibouti due to their very high

cost of production which constitute barriers to access.

The consumer prices for electricity and water services

are the highest in the region, at an average of $0.20/

kWh for electricity and $1.10/m3 for water. The reason

for the high prices is mainly the high cost of electricity

production as a result of the reliance on imported diesel

fuel for power generation, high inefficiencies in the form

of network losses, high administrative overhead costs

and overall lack of managerial capability and incentive.

In addition, in the energy sector, there is a 33% tax on

all petroleum products which is passed through to the

consumers and is estimated to generate revenues to the

government of around $6 million per year.

Djibouti has developed an action plan for both sectors

focused on increasing access and improving competi-

tiveness through a reduction of the high cost of service

and improvement in overall service delivery. The key

objectives in the sectors are to: improve efficiency and

financial performance in the utilities through restruc-

turing and promotion of private sector participation;

address key service delivery constraints through reha-

bilitation of networks and administrative improvements;

and explore new resources for water supply such as

desalination and power generation, such as renewable

energy and interconnection possibilities.

The latter objective is particularly important for the

water sector because the capital city Djibouti-ville relies

entirely on the aquifer for its water supply. Weak control

over water extraction and over water consumption

has led to overexploitation of the aquifer and rapidly

deteriorating water quality. In the power sector, the

financial performance has drastically deteriorated due

to high international oil prices. The electricity tariff is set

to cover cost at a price per barrel level not exceeding

$25 compared to recent prices reaching $32. Djibouti

109

Djibouti

Djib

ou

tiis, however, endowed with good potential to develop

its renewable energy resources, in particular wind and

geothermal.

Djibouti agreed to an IMF Staff Monitoring Program in a

bid to improve the performance of its public utilities,

power and water in particular. Furthermore, the World

Bank is finalizing a Water Sector policy for Djibouti and

identified the sector’s institutional arrangements as the

main reason for inadequate service levels. The largest

donor in the water sector, the European Union,

requested World Bank engagement in order to finalize

its investment program.

Banking & Finance

Djibouti has almost unrestricted banking and commerce

sectors. It has an expanding financial sector that

offers some basis for wealth generation. This has

been growing largely as a result of the stable and

freely convertible currency and absence of exchange

controls. It is economically dependent to an over-

whelming degree on its position as a free trade zone

and key international transit port for the region. Djibouti

has become a significant regional banking hub, with

approximately $600 million in dollar deposits. There

is a growing banking and insurance sector, and the

telecommunications sector is the best in the region. In

February 2001, the World Bank adopted its first Country

Assistance Strategy for Djibouti. This was developed

in close partnership with the authorities and has served

as a roadmap for the Bank’s assistance to the country.

Since 2001 Djibouti has become a magnet for private

sector capital investment, attracting inflows that now

average more than $200 million. In July 2005, the World

Bank had financed 17 operations in the country for a

total original commitment of $155.5 million. A total of

five active investment projects form part of the Bank’s

current portfolio in the country, including support for

health and basic infrastructure.

110

COUNTRY NAME: Arab Republic of Egypt

LAND AREA: 1 million km2

POPULATION: 80,5 million (2010 est.)

LANGUAGE: Arabic

CURRENCY: 1 Egyptian Pound (EGP) = 100 Piaster 1 EUR = 7.5 EGP (Nov. 2010)

MAIN CITIES: Cairo (capital), Chabra, Gizeh, Alexandria

NATIONAL DAY: 23 July – Revolution Day


EGYPT

EG

Occupying the northeast corner of the African continent, Egypt is bisected by the highly fer-tile Nile valley, where most economic activity takes place. One of the largest economies in the Arab world, Egypt is rich in resources and boasts thriving tourism and agricultural sectors. Its natural resources include oil, natural gas, iron ore, phosphates, manganese, limestone, gypsum, talc, asbestos, lead and zinc. The country borders the Mediterranean Sea, between Libya and the Gaza Strip, and the Red Sea north of Sudan, and includes the Asian Sinai Peninsula.

Population

Egypt has the largest population in the Arab world, but

only the fourth-largest economy after Saudi Arabia,

the UAE and Algeria. Egypt’s GDP per head at market

exchange rates is expected to rise steadily throughout

the forecast period (2009-2013), after falling in the

period 2002-04 in dollar terms as a result of slow

growth and the 45% depreciation of the Egyptian

pound against the US currency between 2000 and

end-2003. Real annual GDP growth is expected to

average around 6%, which will almost double real GDP

per head in dollar terms owing to the pound’s strong

appreciation. Egypt will continue to be a relatively

attractive market. The size of its population—it is the

most populous Arab country—makes it an important

and infl uential market, with huge potential, and one that

will continue to grow fast.

This expanding middle class has substantial dispos-

able income, and is prepared to spend it on consumer

goods. Over the forecast period, there will be increas-

ingly strong demand for items such as cars, mobile

phones, fl at-screen televisions and home computers.

Economy

Egypt’s primary economic strength stems from its

diversity in comparison with the rest of the region. In

2008/2009, hydrocarbons extractions constitute 15%;

manufacturing 16.6%; agriculture nearly 13.7%; whole-

sale and retail trade 11.5%; construction and real estate

7.1%; fi nancial and telecommunications services 6.8%;

and externally oriented sources, such as the Suez

Canal, 2.7% and tourism 3.5%. The Economic Intel-

ligence Unit (EIU) shows that all categories of Egypt’s

business environment rankings are forecast to improve.

The categories that are expected to improve the most

are foreign trade and exchange controls, as imports

tariffs continue to be lowered; fi nancing, as small and

medium-sized fi rms gain greater access to the stock-

market, banking regulation improves and banks step

up their risk-assessment strategies; taxes, because

of ongoing improvements to the tax administration;

the macroeconomic environment, as robust economic

growth is expected to continue; infrastructure, as the

government invests heavily in road, rail and sea facili-

ties; and government policy towards private enter-

prise and competition, as privatisation continues and

competition legislation is improved. Market opportuni-

ties will also improve in the future as a result of greater

economic diversifi cation and better foreign invest-

ment policies. After slowing sharply in 2008/09 and

CAIRO

111

2009/10, economic growth is projected to strengthen

over the remainder of the forecast period, to an average

of 6.7%, slightly below the growth rates recorded

between 2005/06 and 2007/08. The government’s infra-

structure programme and continued economic reform

will increase growth potential in the longer term and

productivity.

Reforms

The Egyptian economy has been gaining thanks to the

wide-ranging reforms that the country began implementing

in 2004 and the subsequent awakening of domestic

demand long depressed due to decades of slow growth.

The reforms now have a measurable impact on the coun-

try’s economic performance and have sustained high

growth for the past 10 years. Changes in economic policy

have been made to minimise the state’s role. The prime

drivers of the economy are foreign direct investment (FDI),

remittances, Suez Canal fees and tourism.

In 2005, Egypt reduced personal and corporate tax rates,

reduced energy subsidies, and privatized several enter-

prises. The stock market boomed, and GDP grew about

7% each year since 2006. Despite these achievements,

the government has failed to raise living standards for

the average Egyptian, and has had to continue providing

subsidies for basic necessities.

The subsidies have contributed to a sizeable budget

deficit – roughly 7% of GDP in 2007-08. FDI has increased

significantly in the past two years, but the government will

need to continue its aggressive pursuit of reforms in order

to sustain the spike in investment and growth and begin to

improve economic conditions for the broader population.

Egypt’s export sectors – particularly natural gas – have

bright prospects.

Oil & Gas

Egypt’s crude oil and condensates reserves are at 4.19

bn barrels in mid-2008 according to government figures,

but rising to 4.4 bn in June 2009 following new discov-

eries. This would last some 15 years at current extrac-

tion rates. The mature fields in the Gulf of Suez produce

about 50% of the country’s oil, but exploration activity

is focused on frontier areas such as the Western Desert

near the Libyan border, the offshore Mediterranean

and Sinai. Exploration is largely undertaken by foreign

companies, especially BP of the UK and Eni of Italy, in

partnership with the state-owned Egyptian General Petro-

leum Corporation (EGPC). Eni, which produces 500,000

barrels of oil equivalent per day in Egypt, of which 1.4bn

cu ft/day is gas, has said that it will invest US$6bn in the

oil sector until 2010, with its partners providing another

US$6bn. Two-thirds of oil output is refined domestically.

Because of depletion in the ageing Gulf of Suez oilfields,

crude oil production has declined significantly since

1996, when it reached a high of 922,000 b/d, to around

667,000 b/d in 2007 (including condensates and natural

gas liquids), according to the EGPC. Crude oil exports

are constrained by lower production and by rising local

demand.

Egypt’s proven reserves of natural gas were 77.2trn cu ft

in mid-2009. The government is encouraging additional

exploration, as a minimum total of 120trn cu ft would be

necessary for the government to realise its ambitious

plans for the sector, which include LNG projects, gas

export pipelines, gas-to-liquids schemes, petrochemicals

expansion and increased domestic consumption. Egypt

has also rapidly expanded its LNG export capability,

becoming the world’s sixth-largest gas producer and the

third-largest in Africa, behind Algeria and Nigeria.

Egypt

EG

Banking Sector

Rationalisation of the tax code has encouraged more

FDI, with 27 tariff categories cut down to six and a reduc-

tion of duties of around 75%. New policies have been

adopted to encourage various business sectors, while

stocks have made impressive advances.

Since 2003 the most significant reform achieved by the

state in terms of the everyday operation of the Egyptian

economy has been the complete overhaul of the banking

system. The dominance of public banks is starting to

subside with four of the country’s major banks being

sold, a move which included the eradication of a large

percentage of non-performing loans that had been

hindering sector growth. The World Bank loan of $500m

was given to allow the recapitalization required in order

for two of the biggest public banks to comply with Basel

II standards. The venture into the private sector is helping

banks recruit higher-quality employees and target parts

of the market traditionally left untouched, such as the

local retail market, ultimately benefiting local consumers.

Along with privatization comes new legislation, so that

the sector will operate to international standards and

setting off a trend of mergers and acquisitions.

Deposits at Egyptian banks are forecasted to grow at

Compound Annual Growth Rate (CAGR) of about 14%

between 2008-09 and 2010-11, with household sector

accounting for majority of deposits. Meanwhile, Bank

loans to private business sector are forecasted to grow

at a CAGR of about 9.5% during 2008-09 to 2010-11.

Manufacturing sector will remain the major recipient of

bank loans in local as well as foreign currencies during

2007-08 to 2010-11, and Net interest income is projected

to grow at a CAGR of over 12% during 2008-2012.

The banking system comprises 39 total banks in Egypt in

2008/09 with total branches of 3441 banks. Private and

joint venture banks are increasingly growing, but many

remain relatively small with few branch networks.

Insurance Sector

Egypt’s insurance sector can be generally described as

in process of developing with big potential for growth.

The sector has been long hampered by a lack of public

appreciation of the significance of insurance as well as

heavy state dominance. However, the picture is expected

to brighten with the planned privatization and liberaliza-

tion of the sector. Several developments have been

taking place to open up the sector. Ongoing changes

include redefining the supervisory role of the Egyptian

Insurance Supervisory Authority (EISA), encouraging

more private sector participation through new licenses

and acquisitions, as well as enhancing efficiency and

dissemination of information.

The Egyptian insurance sector has traditionally dealt with

a limited range of insurance covers, but with the upsurge

of international competition and the changing needs

of the market itself, the sector is expected to witness

the emergence of various activities, especially in the

untapped areas of life insurance, third-party liability and

health insurance.

Tourism

Tourism is one of Egypt’s key foreign currency earn-

ings, with its fascinating ancient monuments, year-round

sunshine and beautiful beaches which attract visitors

from around the world in ever growing numbers. Arab

tourists rose to 1.8 million in 2007 from 1.1mn in 2002,

with revenues spiking to $2.2bn per year. The UAE

invested $4bn in the country’s tourism sector accounting

for 30% of total Arab investment in the country, a senior

Egyptian official revealed. Speaking at the Arabian Travel

Market in Dubai, in May, Hisham Zazo, the country’s first

assistant tourism minister, said that the sector comprises

11.3% of Egypt’s GDP and 19.3% of the total invest-

ment made in foreign currencies. “Egypt plans to attract

14 million holidaymakers and boost hotel capacity to

240,000 rooms by 2011,” Zazo said. Leisure tourism

is the largest segment, with business and conference

tourism coming in second. Hotel capacity has been

increasing by 5% per year. More development is on the

horizon and the ministry of tourism is working to make

licensing and land purchasing easier, focusing on the

northern coast for both residential and foreign tourists.

112

113

Egypt

Egyp

t

Construction & Real Estate

The last two years have been good ones for the

construction and real estate sector with increased activi-

ties ongoing in the sector. Accounting for some 7.1%

of GDP in 2008/2009, high-profile real estate projects

and improvements in the country’s tourism sector drove

the industry. The need for low-cost housing and infra-

structure development should help to push the industry

onwards. Rapid population growth has created the

need for 22 new cities in 2008/09, all of which will need

a considerable amount of real estate. The introduction

of mortgage facilities will give a boost to the real estate

sector and as businesses and investors start to look

beyond Cairo the real estate boom looks set to spread

outward beyond the capital.

Investment

The prime drivers of the economy are foreign direct

investment (FDI), remittances, Suez Canal fees and

tourism. Changes in economic policy have been made

to minimise the state’s role. FDI inflows reflect extremely

positively on global investment sentiment in Egypt. Data

released by the Central Bank of Egypt reveals that Net

FDI inflows increased from $509.4 million in FY 2000/01,

to reach $11.1 billion in FY 2006/07 and $13.2 billion

in FY 2007/08, approaching $21bn in July 2007 to

June 2009. According to the World Investment Report

published in 2008 by the United Nations Conference on

Trade and Development (UNCTAD), Egypt was ranked

first in North Africa and second in the African continent in

attracting foreign direct investments.

Modernization has brought a great deal of investment,

with the year 2006/07 seeing $7.48bn worth of funds

flowing into the industry sector. Purchases of new cars

are increasing, indicating greater wealth and confidence

among consumers. Following global trends, economic

zones and industrial parks are offering generous advan-

tages to companies, boosting trade and attracting even

more investment. A sudden reduction in import taxes

and a growing middle class has also created a healthy

environment for the retail sector and the Global Retail

Development Index ranked Egypt at 14th place in terms

of potential. Meanwhile, new shopping complexes and

malls are appearing along with the introduction of inter-

national brand names.

IT & Telecoms

Along with other major infrastructural changes, telecom-

munications in Egypt have come a long way in the past

10 years. The private sector is just starting to emerge,

allowing for more competition in terms of both prices

and services. Call charges for mobile phones have

been dropping significantly for the last five years and

the entrance of a third mobile operator, Etisalat Misr,

is increasing competition even more. The issuance of

3G licenses is also causing waves in the industry and

the country is bracing itself for a more open market. IT

is also becoming a more important sector. Outsourced

call centres are becoming major employers and a new

emphasis is being placed on computer literacy both in

schools and workplaces.

114

COUNTRY NAME: Republic of Iraq



LANGUAGE: Arabic

CURRENCY: 1 Iraqi Dinar (IQD) = 1000 Fils 1 EUR = 1.586,85 IQD (Nov. 2010)

MAIN CITIES: Baghdad (capital), Basra, Mosul, Kirkuk, Najaf

NATIONAL DAY: 9 April


IRAQ

IQ

Straddling the Tigris and Euphrates rivers and stretching from the Gulf to the Anti-Taurus Mountains, modern Iraq occupies roughly what was once ancient Mesopotamia, one of the cradles of human civilisation. In the Middle Ages Iraq was the centre of the Islamic Empire, with Baghdad the cultural and political capital of an area extending from Morocco to the Indian subcontinent.

Iraq is a major oil producing country with offi cial oil

reserves counting as the third in the second in the

world. The country is not only fortunate in its extensive

oil resources, much still to be unexplored, it enjoys

additional resources such as a fertile agricultural sector.

Farming provides rich and diverse range of produce

both for domestic consumption and export. The main

agricultural produce include wheat, barley, rice, vegeta-

bles, dates, cotton; cattle, sheep, poultry. Meanwhile,

its main industries are petroleum, chemicals, textiles,

leather, construction materials, food processing, fertil-

izer, metal fabrication and processing.

Economy

After more than a decade of UN comprehensive sanc-

tions and three major wars, the lifting of sanctions

by the UN Security Council Resolution 1483 in May

2003 was supposedly to allow reconstruction efforts

to begin. However, serious security problems had

hampered the rebuilding effort. The past fi ve years

have been extremely diffi cult for the reconstruction of

the economy, but the recent and continuing progress

provides encouraging signs for investors.

Oil revenue constitutes around 99% of total export

earnings and over 75% of budget revenue. This leaves

Iraq highly vulnerable to the volatile oil market and to

any deterioration in the security situation. The IMF esti-

mates that Iraq will continue to be heavy reliant on oil

for the foreseeable future.

The oil industry, which is the bedrock of the economy,

has begun gradually to recover from the toll of war-

related damage and post-war looting. Attempts to

boost and sustain exports have been held back by

persistent sabotage, targeted mainly at oil export infra-

structure, as well as by a lack of investment in new

production. Nevertheless, having remained at or below

a disappointing 2 m barrels/day (b/d) since 2003, oil

production has increased markedly since the autumn of

2007, as improved security has allowed the reopening

on a sustainable basis of the northern Kirkuk pipeline.

As a result, oil output averaged around 2.4 m b/d over

the fi rst half of 2008.

Development of a manufacturing sector has been

hindered by the extremely poor security climate since

2003, as well as by the country’s infrastructural defi -

ciencies. The government has sought to boost devel-

opment spending signifi cantly, but progress has been

hampered by security problems despite improved

stability since mid-2007, as well as by bureaucratic

shortcomings. Total government revenues have

benefi ted from high oil prices in recent years; however,

revenues have declined signifi cantly since the oil price

dropped in 2008.

BAGHDAD

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Reforms

During the last few years Iraq has also made signifi-

cant progress in implementing structural reforms and

continues to make progress with reconstruction. During

the past few years, Iraq witnessed some progress in its

reconstruction, increases its oil exports, and improves the

living conditions for its citizens. However, Iraq still has a

long way to go before it is able to realize its full potential

as a major player in the regional and global economy.

Iraq has also made significant progress in adopting new

investment law and implementing some important struc-

tural reforms.

Iraq is making some progress in building the institutions

needed to implement economic policy. In March 2009

Iraq concluded a Stand-By Arrangement (SBA) with the

IMF that details economic reforms. The SBA allows an

80% reduction of the debt owed to Paris Club creditor

nations. The International Compact with Iraq was estab-

lished in May 2007 to integrate Iraq into the regional and

global economy, and the Iraqi government is seeking

to pass laws to strengthen its economy. This legislation

includes a hydrocarbon law to establish a modern legal

framework to allow Iraq to develop its resources and

a revenue sharing law to equitably divide oil revenues

within the nation, although both are still under conten-

tious political negotiation. Some foreign entities have

expressed interest in reinvigorating Iraq’s industrial

sector. The government of Iraq is pursuing a strategy

to gain foreign participation in joint ventures with State-

owned enterprises. Provincial Councils are also using

local budgets to promote and facilitate investment. The

Central Bank has been successful in controlling inflation

through appreciation of the dinar against the US dollar.

Construction & Infrastructure

Major reconstruction work continues to take place in

the country’s infrastructure and is attracting consider-

able investment. One of the latest was announced in

July 2009, that Iraq is to construct a “Sport City” in the

southern oil hub of Basra to host the Gulf Cup at the end

of 2012, government spokesman Ali al-Dabbagh said:

“The council of ministers, on the recommendation of the

minister for youth and Sports freed up 446 million dollars

to build a 146 hectare modern complex inspired by the

architectural style of Basra”. Youth and sports ministry

spokesman Assifa Moussa said, the complex would

consist of a 65,000 capacity main stadium, a 10,000 seat

arena and four smaller training stadiums, each with 400

seats. A sporting village consisting of eight buildings

each housing 16 apartments will also be built under the

project, led by an Iraqi company working in association

with two US firms, Moussa added.

Iraq

116

IQ

Energy

Just before the start of the war in March 2003, nation-

wide electricity capacity was around 4,500 mw/day,

according to the October 2003 UN/World Bank “Joint

Iraq Needs Assessment”. The post-war power supply

has been affected not only by war-related damage, which

resulted in a shortage of domestic oil supplies, but also

by the subsequent looting of power stations and sabo-

tage of oil pipelines. Interruptions to oil supplies have a

direct impact on the output of power stations that are

entirely oil-fuelled, as is the case in Baghdad. Further-

more, electricity facilities—such as pylons and high

voltage transmission lines—have been targeted by polit-

ical forces opposed to the presence of coalition troops

in the country. Although, this does not represent the

same scale of damage that occurred in the 1991 war, the

combination of looting and sabotage has had a compa-

rable effect on the national grid. As a result, according

to the US State Department, national electricity supply

was only able to meet 51% of demand in late July 2008,

leaving the average Iraqi with less than 10 hours/day of

electricity from the power grid.

Industry

Traditionally, Iraq’s manufacturing activity has been

closely connected to the oil industry. The major industries

in that category have been petroleum refining and the

manufacture of chemicals and fertilizers. Before 2003,

diversification was hindered by limitations on privatization

and the effects of the international sanctions. Since 2003,

Iraq is making extensive efforts to rebuild its industrial

infrastructure.

Apart from hydrocarbons, Iraq’s mining industry has

been confined to extraction of relatively small amounts

of phosphates, salt, and sulfur. Since a relatively produc-

tive period in the 1970s, the mining industry has been

hampered by conflict. Iraq during the 1970s had also

established big state-owned industries mainly specialized

in petroleum, chemicals, textiles, leather, construction

materials, food processing, fertilizer, metal fabrication

and processing.

Banking Sector

Iraq financial sector currently consists of six state-owned

banks, including Rafidian Bank (founded in 1941) and

Rasheed Bank (founded in 1988), which are considered

the biggest banks (86% of the total assets) in Iraq, in

addition to, the Agricultural Bank, the Industrial Bank,

the Real Estate Bank, and the Socialist Bank. Until 2003,

these banks account for about 93 percent of banking

system assets. There are also 18 private banks with an

increasing capitalization since 2003. The Central Bank of

Iraq has meanwhile been making progress in improving

its accounting and governance structure. Since 2003,

audits of the country’s two largest state banks, Rafidain

and Rasheed, are underway, as a first step to developing

a restructuring programme for the two banks.

The 18 private banks were established during the sanc-

tions era (1990-2003) in an effort to handle local deposi-

tors’ financial needs and reform as well as modernize

the banking sector. However, these banks remained

small and were limited to domestic transactions and

attracted few private depositors. Both private and state

banks in Iraq were badly damaged by the international

embargo. After 2003 and in attempts to further priva-

tize and expand the system, Iraqi government removed

restrictions on international bank transactions and freed

the Central Bank of Iraq from government control. In

2004 three foreign banks received licenses to do busi-

ness in Iraq. Also, Iraq Securities Commission has issued

detailed rules governing trading of non-Iraqis at the Iraq

Stock Exchange (ISX).

Private sector and foreign investors are increasingly

showing interest in Iraq’s financial sector, especially as

Foreign Investment Law allows foreign banks to hold a

50% interest in Iraqi private banks. International banks

will be permitted to enter Iraq as branches, subsidiaries,

representative offices or through joint ventures with local

banks. Standard Chartered, HSBC, and the National

Bank of Kuwait received licenses to conduct banking

transactions in Iraq. In July 2009, Asiacell announced

the signing of an e-banking cooperation agreement with

AMWAL, a consortium of leading private Iraqi banking

institutions. The move will enable Iraqi citizens to settle

their financial transactions using their mobile phones

without having to visit their banks.

117

Insurance Sector

The insurance sector in Iraq has been opened up to

competition. It was in 1997 that a change in the law

permitted the establishment of private Iraqi-owned

companies in the sector. Since 2005 foreign insurance

providers have been allowed to enter the market.

Now foreign investment has started to find its way into

the insurance sector but as yet only to a limited extent.

The Ministry of Finance is responsible for licensing

insurers to write both life and non-life insurance cover.

Estimated annual gross written premium is estimated at

just £3.3mn according to specialist observers. Foreign

investors can now enter the market as long as they

comply with the 2005 insurance law, which stipulates

capital requirements for insurance firms. Foreign inves-

tors are also able to open branches in the country. The

insurance industry is overseen by the Iraqi Insurance

Diwan whose powers are set out under the Insurance

Business Regulations Act of 2005. This is an independent

body that sets the overall policy and procedures for the

regulation of the insurance industry.

Agriculture, Food & Fisheries

Historically, only 50 to 60% of Iraq’s arable land has

been under cultivation. However, Iraq now is facing

unprecedented harsh conditions due to decreasing water

supplies in the two rivers. Iraqi officials say the Ataturk

Dam in Turkey and Syrian water projects on the Tigris

and Euphrates are hindering adequate water supplies.

The officials added that: “Before building these dams in

Turkey or using water in Syria for large areas for irriga-

tion, we were getting... nearly 30 billion cubic metres of

water,” they said. “Now it’s about a third of that amount,

so the flow in both rivers – especially in the Tigris – has

been reduced.” This situation has greatly affected the

agricultural sector in Iraq and the country remains a net

food importer.

Outlook

The Economic Intelligence Unit (EIU) lowered its fore-

casts for Iraq’s fiscal deficit for the 2009-10, after raising

oil price projections. Nevertheless, the EIU still expect

Iraq’s budget to return an average deficit of $15.6bn in

2009-10. Iraq’s current-account deficit forecast has also

narrowed slightly, owing to the revision of the oil price

projections. It is expected now that the current account

will return a deficit of $6.4bn in 2010.

Real GDP growth is forecast to slow in 2009-10, from an

estimated rate of 7.8% in 2008 to an average of 5.7%,

as a tighter fiscal stance has a knock-on impact across

the economy. Thus, economic growth in 2009-10 was

expected to remain relatively healthy, if geographically

uneven A recovery is expected in some of Iraq’s southern

and western provinces, leading to greater wholesale and

retail trade, as well as increased investment, including

from Iraq’s neighbours.

Iraq

Iraq

118

COUNTRY NAME: Hashemite Kingdom of Jordan

LAND AREA: 89,000km2


LANGUAGE: Arabic

CURRENCY: 1 Jordanian Dinar (JOD) = 1.000 Fils 1 EUR = 0.96 JOD (Nov. 2010)

MAIN CITIES: Amman (capital), Aqaba, Irbid, Zarqa, Karak, Maan

NATIONAL DAY: 25 May – Indepence Day


JORDAN

JO

In the last decade, the Hashemite Kingdom of Jordan has sustained vast development achievements that brought qualitative stride at all economic, social and political sectors. These results were also made through the relentless efforts of His Majesty King Abdullah II Ibn Al-Hussein who spares no effort in the process of building modern Jordan and in achieving a better future for the Jordanian people.

Jordan has attained many accomplishments in respect

of economic development and growth rates, as well

as the support of the market absorption of labor force.

The current and future economic plans aim at the

redistribution of the development returns to all the

Kingdom’s regions in away that will better serve the

development needs of them. In this respect and under a

Royal guidance, the government established economic

and development areas all around the Kingdom with

the aim of attracting local and foreign investments and

establishing projects that will absorb labor force in these

regions.

Reforms

Jordan realizes the importance of continuing the

thrust of its reform agenda. Transforming Jordan into

a modern knowledge-based economy with increased

productivity and employment continues to be at the core

of Jordan’s long-term development vision as articulated

in the “Kuluna Al Urdun” (We are all Jordan) initiative,

which builds on past achievements and previous reform

initiatives, including “Jordan First” and the “National

Agenda”. “Kuluna Al Urdun”, spearheaded by His

Majesty King Abdullah II Ibn Al-Hussein, was developed

through extensive participation from all segments of the

Jordanian society in order to build national consensus

on a comprehensive unifi ed vision and policy actions to

support a bold reform and modernization of Jordan’s

economic, institutional and political infrastructure. It also

envisions additional investments to bring about improved

living conditions, increased job opportunities, and

upgraded social services to all Jordanians.

Young people are one of Jordan’s national priorities,

greatest asset, and hope for the future. Youthful energies

are being directed towards serving the community, and

organized in group frameworks through a number of

initiatives aimed at tapping their intellect, creativity and

aspirations. In order to ensure the active participation of

youth, Jordan has committed itself towards mobilizing all

stakeholders (government agencies, civil society, national

and international institutions, private sector) case in point

is the “National Strategy for Youth”, and “We are All

Jordan” Youth initiatives.

Investment

With access to over one billion consumers at the cross

roads of three continents, Jordan is situated at the heart

of the region that interconnects three continents. Its

location and excellent transportation network make it an

ideal base of operations for companies seeking export

to countries and regions which Jordan has bilateral and

multilateral trade agreements with, thereby expanding

their market to over one billion consumers in Europe,

AMMAN

119

North America and the Middle East. As well, its stable

political and economic environments enhance the

Kingdom’s suitability as a base from which to supply

such large markets. Jordan is home to a competitive

and vibrant economy that has achieved constantly high

growth.

The investment promotion law in Jordan offers a

number of benefits and incentives to investors in the key

sectors of the economy, including industry, agriculture,

hospitals, hotels, leisure and recreational compounds,

Maritime transport, railways, pipeline transportation

and distribution services for water, gas, and petroleum

derivatives as well as their exploitation, conventions

and exhibition centers, call centers. Jordan’s economy

offers special opportunities in fast rising sectors that

include pharmaceuticals, minerals, information and

communication technology ICT, Dead Sea products,

textiles and apparel, tourism, real estate and automotive

industry.

Jordan Investment Board (JIB) is a governmental body

that was established by means of the investment

promotion law of 1995 and the investment law of 2003,

JIB is a world class agency entrusted with promoting

Jordan as a unique destination for foreign direct

investment and sustaining domestic investment to

achieve economic prosperity in the Kingdom. JIB is at

the disposal of all investors seeking assistance in their

business and investment needs.

The Government of Jordan has implemented a bold

economic liberalization initiative through transformation

of Aqaba, the Kingdom’s only port city and a

surrounding area of 375 km2, into the Aqaba Special

Economic Zone Authority (ASEZA). ASEZA is a duty free

zone that is successfully attracting substantial foreign

and domestic private investment. It offers advanced

infrastructure and logistics systems, quality lifestyle, and

a superior business environment.

Aqaba Development Corporation (ADC), inaugurated

at the beginning of 2004, is the central development

company for ASEZA. It is a private shareholding

company owned jointly by the government and the

Aqaba Special Economic Zone Authority (ASEZA) with

the mission to implement the ASEZA Master Plan in

a manner that ensures integrated development by

maximizing public-private partnerships.

The South Industrial Zone (SIZ) is one of the principal

investment opportunities within ASEZA. Comprising

some 12 square kilometers of still vacant readily

developable land, it encompasses and surrounds

the existing heavy industrial district. It is also directly

adjacent to the site where the new Aqaba seaport will

be built over the coming five to seven years. Already

present are the marine terminals for import and export of

dry bulk and liquid bulk commodities. The development

concept for the SIZ is to build an industrial area that

provides for the development of existing industries in an

orderly manner, develops related downstream industries

and provides a highly competitive world-class industrial

Jordan

120

park to enable the development of new industries. The

SIZ concept plans for industrial clusters which meet

the demands of existing and new industries; provides

centralized grouping of services such as cooling water,

pipelines and conveyors where possible; and plans for

inter-modal transport centers to enable rapid transfer

of goods and people. The SIZ dedicates part of the

area to anchor an integrated agro-chemical/fertilizer

cluster, using the competitive advantage of Jordan

and its neighbors in phosphate, potash and natural

gas resources as well as taking advantage of existing

fertilizer industry and deepwater ports both existing

and under-development. The SIZ has also dedicated

remaining areas for heavy chemical industries,

supporting industries and future industrial expansion.

The King Hussein Bin Talal Development Area (KHBTDA)

in Mafraq – situated 60 km northeast of the capital

Amman at the Nexus of a modern highway network

connecting Jordan, Syria, Iraq and Saudi Arabia – is

strategically positioned to function as an industrial

center and inland port stretching across 21 square

kilometers with an adjacent functional airport and a

future railway system. Through the unique combination

of its geographic location, public sector commitment,

and a legal and regulatory framework underpinned by

the progressive and robust development areas law, the

KHBTDA is an unparalleled infrastructure, industry and

logistics investment opportunity. With regional markets

exceeding 300 million inhabitants, the potential to

connect overland routes with access to major regional

ports, and the planned conversion of the adjacent

King Hussein Airbase and to a mixed use airport, the

sight has the potential to become not only a leading

location for industrial production, but also a regional

transportation hub for inward movement of goods from

throughout the region, and indeed the world.

Industry

The manufacturing sector comprises a great deal of the

industrial activity that will drive investment demand into

the KHBTDA. The Mafraq Development Corporation

(MDC) vision for the sight is to attract investment from

a variety of light and medium industrial sectors, with

the aim of serving major regional export markets as well

as Jordanian domestic demand. Sectors with potential

to drive development include: food and beverage;

pharmaceutical and medical supplies; light chemicals;

and a wide range of other manufactured products.

Jordan has already established itself as a serious

exporter to regional markets, and its leading producers

are already looking beyond, to the EU and the US,

to export high quality foods, and the Jordan valley is

poised to emerge as a producer of world-class fruits

and vegetables. The Pharmaceutical and Medical

Supply sector together represent one of Jordan’s

premier industries, surpassed only by garment

sector in terms of both total output and exports.

With pharmaceuticals exports exceeding USD 442.4

million in 2007, Jordan is the MENA regions largest

Arab exporter and a growing producer of consumable

medical supplies.

The demand analysis exams trade flows in a wide range

of manufacturing sectors under the broad heading

of other manufactured products, including: furniture

and furniture components; electrical machinery and

electronics; fabricated plastic products; and packaging.

ICT & Health Sector

ICTs growth in Jordan has surpassed the high rates

witnessed in the region, with many firms headquartered

in Jordan and maintaining project offices in regional

markets. Jordan’s prominent reputation in health care,

based on advanced systems and highly regarded

physicians, is attracting 100,000 international patients

annually.

Transport

Jordan and most of its neighbors signed the

International Agreement on Rail Development in the

Arab Mashreq, which defined minimum technical

standards and identified priorities routes for linking the

economies of the region. The network within Jordan

is fully consistent with the standards of and priorities

specified in the agreement, as is the work is underway

in neighboring countries. All of Jordan’s neighbors have

plans for standard gauge rail development to the Jordan

border.

Services account for 73% of Jordanian GDP in 2005.

Jordan commercial services balance with the world

has been positive until 2000. Jordanian leading export

services sectors are travel (55%) and transportation

(22%). Services sectors reforms are well advanced

and generally in line with international best practices

and principles of the Single Market. Jordan has made

substantial commitments under GATS by binding 11

sectors.

The EU’s policy towards the Mediterranean region

as a whole is governed by the Euro-Mediterranean

Partnership, launched at the 1995 Barcelona summit

between the European Union and its 10 Mediterranean

partners. Jordan is an active participant in furthering the

trade objective of this process whose aim is to create

a Euro-Mediterranean Free Trade Area by 2010 via a

JO

120

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network of bilateral Association Agreements between

the EU and individual Mediterranean partners, together

with free trade agreements between the partners

themselves. The Euro-Mediterranean Association

Agreement with Jordan was signed on 24 November

1997 and entered into force on 1 May 2002 replacing

the co-operation Agreement of 1977.

Industrial products originating in Jordan are imported

into the EU free of customs duties and charges.

Reciprocally, Jordan abolished customs duties and

charges on a large number of products originating in the

Community and is liberalising the remaining products

in several stages, according to their sensitivity for

Jordanian markets.

Trade Relations

On 25 February 2004 Jordan signed a free trade

agreement with Egypt, Morocco and Tunisia. The

Agadir Agreement, as it is known, commits the parties

to removing substantially all tariffs on trade between

them, and to intensifying economic cooperation notably

in the field of harmonising their legislation with regard to

standards and customs procedures. A similar agreement

has been signed 2009 with Turkey. Jordan already signed

a bilateral free trade agreement with the US in 2000 and

a free trade agreement with Singapore in 2004. It is to be

noted that Jordan became a member of the World Trade

Organisation (WTO) in April 2000.

Jordan

Jord

an

122

COUNTRY NAME: State of Kuwait


POPULATION: 2.8 million (2010 est.)


CURRENCY: 1 Kuwaiti Dinar (KWD) = 1000 Fils 1 EUR = 0.38 KWD (Nov. 2010)

MAIN CITIES: Kuwait City (capital), Hawalli, Jahrah, Sabahiyah

NATIONAL DAY: 25 February


KUWAIT

KW

Kuwait is a small, rich, relatively open economy with self-reported crude oil reserves of about 104 billion barrels – 10% of world reserves. Kuwait is the seventh largest oil exporter in the world; sits on a tenth of global crude reserves, and has plans to boost output to 4 million barrel by day by 2020. Kuwait plans also to spend some $55bn on oil projects in the coming five years, which will help Kuwait to increase its oil output by 300,000 bpd starting from mid-2009. The spending includes a multi-billion dollar scheme to produce more oil from some northern oil fields under the delayed ‘Project Kuwait’ which involve foreign firms in production. Kuwait is also rich with gas. Its natural gas reserve is the twentieth in world, with an estimated reserve of 62.8Tcf which contributes to 0.9% of the world’s total reserves.

Economy

Macroeconomic performance has been strong due

to high oil proceeds, and the outlook remains very

favourable. Structural reforms continued, aimed at

promoting a dynamic private sector driven economy and

enhancing incentives for bringing in foreign technical

know-how. Kuwait’s structural reforms aiming to promote

a dynamic open economy driven by the private sector

have been gaining momentum. The National Assembly

in 2007 passed three important economic laws. One

law reduces the profi t tax on foreign investors from

55% to 15% and exempts capital gains from stock

investment from tax. The new legislation removes an

important obstacle for the fl ow of foreign investment

into the country. The sale of state properties law sets

guidelines for the government to provide state land to

local or foreign investors. It also provides a legal basis

for projects involving public-private partnerships (PPPs).

Finally, a bill was passed authorizing the privatization

of Kuwait Airways, which would mark the fi rst major

privatization in the country. Kuwait granted licenses to

three private airlines and four new private universities,

and privatized a number of gas stations.

Oil & Petroleum

Kuwait petroleum accounts for nearly half of GDP, 95%

of export revenues, and 80% of government income.

Oil will account for around half of Kuwait’s nominal GDP

in 2009-10, and will drive the wider economy through

its knock-on impact on government consumption,

and hence private-sector domestic demand. Kuwait

experienced rapid economic growth over the last several

years on the back of high oil prices and in 2008 posted

its tenth consecutive budget surplus. However, oil output

is expected to fall sharply in 2009, following an OPEC

agreement to cut production, before expanding by 9% in

2010. The global fi nancial crisis might have also slowed

the pace of investment and development projects, but

Kuwait has vowed to use its considerable fi nancial

resources to stabilize the economy if necessary.

Banking Sector

Kuwait has one of the most robust banking sectors in

the Gulf Cooperation Council (GCC) region, benefi ting

KUWAIT CITY

from the country’s outstanding economic performance

in recent years. Kuwaiti banks are also benefiting from

fairly effective banking supervision by Central Bank which

has been very successful role in restoring confidence in

the system and nurturing its development. The fact that

Kuwait has relatively undiversified economy, with half of

its GDP generated from oil-related activities, the result

of banks having limited non-oil related exposures and

sizeable balance-sheet concentrations, both to the oil

sector and to individual entities.

The Central Bank of Kuwait (CBK) is monitoring banks

closely, including through regular stress testing. Kuwait

recognizes that the number, size and activities of

investment companies have grown significantly over

the last few years, making that sector systemically

important. The overall current regulatory framework

covers disclosure, credit concentration and provisioning,

anti-money laundering, and consumer/instalment loans

limits. The CBK is carefully watching individual banks’

exposures to investment companies. Kuwait’s domestic

banking system is also relatively saturated, with 16 banks

– including Islamic financial institutions, specialized bank

and foreign banks branches – competing to serve a total

population of 3.4 million (only a third of which comprises

the banks’ traditional retail target market). Conventional

banks have historically dominated the financial system.

To date, Kuwait Finance House has been their primary

Islamic competitor but other Islamic financial service

providers are set to pose increased competitive

pressures.

Insurance Sector

While Kuwait was among the first Gulf States to launch a

domestic insurance industry, with the Kuwait Insurance

Company founded in 1960 and Al Ahleia Insurance

in 1962, the sector still only accounts for around 1%

of Kuwait Gross Domestic Product (GDP). However,

Kuwait’s insurance industry is developing at a steady

pace, with growing popularity among locals being driven

by a wider range of available products, especially from

companies that provide Sharia-compliant services.

The local Kuwaiti market has strong potential for

expansion. According to official figures, the Kuwaiti

population is growing at a rate of 3.6% a year. The

increase is largely being fuelled by a continued influx of

foreigners.

While foreign companies do operate in the Kuwaiti

insurance industry, the 12 local firms dominate the

sector, accounting for more than 85 percent of the

market. Activity is mainly centred on general insurance, or

non-life policies, which include property, marine, general

accident and fire insurance. Life insurance has recently

been gaining in popularity, with such policies accounting

Kuwait

123

KW

for almost 30% of total premiums as of the end of 2006,

according to a report issued by Dubai-based firm CPI

Financial in 2008. This is due in part to new regulations

that require expatriates to have medical insurance.

The change in attitude toward life insurance may

also stem from the rise of companies offering Sharia-

compliant products, first offered in 2000. Takaful

insurance has been strengthening over years in the

Kuwaiti market, as it is the case in other GCC States,

accounting for around 20% of all premiums as of

mid-2007.

Health Sector

Kuwait is looking at introducing greater private sector

participation in the delivery of the country’s healthcare

system. The Ministry of Health in June 2008 stated that

it was looking at the outsourcing of the management

of government clinics and hospitals to private sector

professionals. Kuwait is putting efforts to extend the

private sector participation in the health care system, and

opening the sector to private and foreign investment.

Power & Water

The Kuwait Electricity and Water Ministry’s current five-

year plan concentrates on developing and upgrading

electricity and water services for consumers, including

several major projects to meet increasing consumer

demand. Proposed new projects include building

new power generating stations that will be capable of

generating up to 6,700 megawatts of power equivalent

to 70% of the current production. One such project

involves establishing a power generation plant at the

north Zour station that will operate on gas turbines. The

project will be divided into two stages. The first was

floated through a public tender during 2008. It includes

constructing the first part of the station generating

1,600 megawatts and will be completed in 2010. The

second stage commenced in 2009 to generate 1,600

megawatts too and is slated for completion in 2011.

Kuwait is also to float a tender to construct the Subiya

power station that will generate 2,000 megawatts; work

on which is expected to commence in 2010. There are

plans to undertake a number of projects to increase

water production. Construction of new water desalination

plants will produce 275 million gallons of water per day

and ease continuing water shortages.

Agricultural Sector

In an effort to promote food security, Kuwait is

considering new projects in the agricultural sector,

such as the production of plant and fish farming,

livestock, dairy production, fattening of calves and

cattle-breeding. In general, the non-oil contribution to

GDP continues to expand rapidly and both the fiscal

and external current account remains in large surplus.

Growth in the non-oil economy has been over 9%, and

the large increase in oil revenue generated substantial

fiscal and external current account surpluses, enabling

the country to build up the stock of foreign assets.

Trade

Export volumes in 2009 are similarly expected to decline

as demand weakens in Kuwait’s biggest export markets,

notably in East Asia. Growth in the services sector (led by

financial services, logistics, telecommunications and

retail), which accounts for around 40% of nominal GDP,

will be modest in 2009-10. As a result, the Economic

Intelligence Unit (EIU) forecast that real GDP will contract

by 0.7% in 2009, after expanding by an estimated 8.5%

in 2008, before returning to growth of 4.4% in 2010, as

the external outlook begins to improve. Kuwait’s global

integration is underpinned by active membership in

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Kuwait

Kuw

ait

global and regional trade initiatives and an ongoing push

to liberalize domestic regulations. A member of the WTO

since 1995, Kuwait also participates in various

preferential trade arrangements, including the GCC

customs union and the Greater Arab Free Trade Area.

The GCC common market agreement was launched in

January 2008.

In May 2007, Kuwait adopted a fiscal strategy involving

higher capital spending, limiting expanding current

expenditure, and saving part of the oil wealth to reduce

dependency on oil income for funding the budget. In

2007 also, Kuwait abandoned the peg to the US dollar in

favour of a peg to an undisclosed currency basket.

Kuwait is undertaking large-scale investments to expand

oil production and refining capacity.

The IMF in a 2008 report urged Kuwait to support more

private sector-led investment and growth by bringing

capital market, companies, competition, public-private

partnerships and privatization laws in line with best

international practice. Progress in 2007 included

reduction of taxes on foreign investors, priority given to

the new capital market law and other draft laws to

facilitate broadening the role of private sector. There is

potential to enhance the involvement of foreign technical

know-how in the development of the northern oil fields.

The EIU expects that Kuwait will follow an expansionary

fiscal policy, using its oil revenue to raise spending on

infrastructure and redistribute wealth. The fiscal surplus

is forecast to average 8.3% of GDP a year in 2009-13.

The EIU expects also that the oil sector will drive most

economic activity. Real GDP growth is set to decline

from the highs of recent years, as oil output rises only

slowly (following recent OPEC cuts) and efforts to draw

in foreign investment to boost production in the northern

oilfields remain stalled, despite the fact that some new

energy projects will be initiated towards the end of the

forecast period. Following a slight upward revision to

EIU oil price forecast, EIU now expects a budget surplus

of 2.4% of GDP in fiscal year 2009/10.

Foreign Direct Investment

The net flow of foreign direct investment into Kuwait

should rise modestly over the forecast period.

Nevertheless, apart from Equate II (a petrochemicals

venture) and some smaller-scale projects, most

developments will be financed almost exclusively from

domestic sources. The upstream oil and gas sectors

will remain largely closed to foreign investors, limiting

technology transfer.

126

COUNTRY NAME: Lebanese Republic



LANGUAGE: Arabic (official), French, English, Armenian

CURRENCY: 1 Lebanese Pound (LBP) = 100 Piaster 1 EUR = 2 LBP (Nov. 2010)

MAIN CITIES: Beirut (capital), Sidon, Jounié, Tripoli

NATIONAL DAY: 22 November – Independence Day


LEBANON

LB

Lebanon gained its independence from France in 1943 and developed one of the Middle East’s most advanced economies. It has long been the convergence point of trade routes and the meeting place for a wide variety of peoples, the basis of the rich and diverse national culture that exists in the country today. It is a regional and international hub for trade, finance, services, industry, culture and tourism. At the centre of the Eastern Mediterranean, Lebanon is at the cross-roads of Africa, Asia and Europe. It enjoys a rich variety of climates and ecosystems.

As a trading and international banking centre, it was

long known as “the Switzerland of the Middle East”

until its disastrous 1975–1990 civil war and protracted

confl ict. The 1975-90 civil war seriously damaged

Lebanon’s economic infrastructure, cut national output

by half, and all but ended Lebanon’s position as a

Middle Eastern entrepot and banking hub. In the years

since, Lebanon has rebuilt much of its war-torn physical

and fi nancial infrastructure by borrowing heavily –

mostly from domestic banks.

Lebanon’s most important area of economic activity

has historically been services, which in 2008 accounted

for an estimated three-quarters of nominal GDP. The

capital, Beirut, remains a signifi cant regional banking

centre. Although agriculture remains an important

source of employment, most rural holdings are small,

economically ineffi cient and rented by subsistence

farmers – so agriculture accounts for only around 5%

of nominal GDP. The country’s most precious natural

resource – vast forests of cedar – was exhausted

in ancient times, and today, the main focus of the

primary sector is quarrying for the cement industry.

The industrial sector is also small, partly because the

domestic market shows a preference for imported

goods. Among the sector’s most signifi cant exports are

processed food and jewellery – with the latter showing

strong growth in recent years.

Lebanon enjoys a free foreign exchange market,

full currency convertibility, complete repatriation of

capital and a regulated banking secrecy law. These

privileges make Lebanon a prime destination for foreign

investment and tourism. Investors can benefi t from

a sophisticated legal framework, which protects the

rights and assets of both Lebanese and non-Lebanese

investors.

Financial Sector

Lebanon’s fi nancial sector, one of the region’s most

sophisticated, offers a wide range of services. There are

few restrictions on domestic banking and few barriers

to foreign banks. Regulations are fairly transparent,

and credit is allocated on market terms. There are 69

banks registered at the National Bank of Lebanon/

Banque du Liban, with 62 active commercial banks and

12 specialized banks. Banking currently employs more

than 17,660 individuals in 872 branches conveniently

spread throughout the country, and manages the

equivalent of $90 billion in assets nation-wide.

Foreign representation is important either in the form

of a foreign bank maintaining branches in Lebanon

(11 banks) or equity stakes in several local banks.

BEIRUT

127

16 foreign banks have also a representation office in

Lebanon. Foreign representation is significant, whether

through foreign banks maintaining their branches in

Lebanon or equity stakes in several local banks. At the

same time, Lebanese banks have expanded abroad,

particularly in Syria, Jordan and France. Today, there

are eighteen Lebanese banks active in one way or

another in sixteen foreign countries. Foreigners can

open accounts in banks operating in Lebanon and

get credit on market terms. The Banking Control

Commission (BCC) closely monitors bank credits. Bank

financial statements are in compliance with international

accounting standards. Independent auditors audit

annual accounts, and most banks utilize internationally

recognized accounting firms. The recent report by

International Monetary Fund (IMF) noted that the global

financial crisis on Lebanon had had no major impact.

Like other Middle Eastern states, the local bourse

declined, but real estate markets did not crash, and

banks were not failing. Key to Lebanon’s success at

insulating itself from the worst of the global financial

meltdown has been sound fiscal policy from the Central

Bank. Years ago, CBL issued a bank circular prohibiting

Lebanese banks from subscribing to subprime

mortgage products.

Insurance Sector

The Lebanese insurance market has always been open

and liberal, in line with Lebanon’s free market economy.

Private insurers have historically been the only players

in the local market and the state has never national-

ized or expropriated an insurance firm. Additionally,

the Lebanese state never owned insurers and private

companies did not have to compete with state entities

or worry about government monopolies, as is the case

in many other Arab countries.

This characteristic has helped the sector respond to

market forces and avoid the distortions associated with

state-ownership of insurers. Further, the sector has

very low barriers to entry and is one of the most open

insurance sectors in the region. The existing rules and

regulations already allow foreign insurers full ownership

of local operations and for the acquisition of a domestic

insurer. Competition exists from a large number of

domestic firms as well as from Arab and foreign

Lebanon

128

insurers already present in the market. As at 2007,

figures published by Lebanon’s Ministry of Economy

and Trade showed that the total assets of that coun-

try’s insurance sector amounted to $1,555 million, of

which $829 million was held in investments.

The operational efficiency of the Lebanese insurance

sector is positively influenced by the fact that the

industry is totally in the hands of the private sector. On

the other hand, Lebanon does not have the advantages

of the more efficient Arab markets in terms of large

industries related to oil production. Further, Lebanon

has one of the more developed life insurance sectors

relative to other Arab countries, which increases the

comparative efficiency of the Lebanese market.

Tourism

Tourism, the country’s major economic activities and

foreign exchange earners, was hit severely by the coun-

try’s protracted political crises. Adverse political and

security conditions placed it on the list of the “world’s

most dangerous destinations”. However, efforts are

now being made to reposition Lebanon on the inter-

national tourism map. The Ministry of Tourism is

continuing with projects to promote Lebanon providing

electronic services and information, participating in

world exhibitions, and targeting selected new markets.

Energy Sector

Lebanon depends almost entirely on external energy

sources, in particular for oil products. Growing energy

needs may impact increasingly on the high energy

import bill and thus on the country’s economy. It could

develop towards a transit country, including to the

benefit of secure energy supply to the EU. Lebanon

took a major decision to introduce natural gas in the

economy, although it has no known gas reserves of

its own. Gas pipelines are under development and

will bring Egyptian and Syrian gas to the region and

possibly further to the EU. Lebanon participates in the

Euro-Mashreq Gas Market project that aims to reform

and modernise the gas industry in Egypt, Jordan,

Lebanon and Syria, and achieve the progressive inte-

gration of their gas markets with a view to integration

with the EU internal gas market.

Rehabilitation of energy infrastructure requires signifi-

cant investments. Development of the oil sector,

including the viability of the operation of a refinery, is

under study. Lebanon aims to increase the share of

renewable energy sources such as hydro, solar and

wind in the country’s energy balance to as high as 10%

by 2015. The state-owned electricity producer, Elec-

tricité du Liban (EDL), generated 10.54bn kwh in 2007,

overwhelmingly from imported oil. This was a modest

3.2% improvement on the previous year, but still well

below estimates of current demand of some 14.5bn

kwh. As a result, electricity rationing continues in all

areas, especially during the summer months, when

air-conditioning greatly increases demand, leading to

periodic brownouts and – less frequently – outright

blackouts.

Investment

The Investment Development Agency of Lebanon

(IDAL) provides support and assistance for investment

matters.

Worldwide telecom company Ericsson established a

global-services delivery centre in Beirut in August 2007

to provide services to local and regional costumers.

The centre will service 70 countries in the region.

A new Islamic investment bank is to set up headquar-

ters in Beirut. The Jousour Bank, owned by the Kuwait-

based International Investors Group – IIG, will provide

LB

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Lebanon

Leb

an

on

financial and investment services according to Islamic

principles.

Horizon Management, together with Kuwait-based

United Real Estate Company, is undertaking two new

projects in Beirut. Excavation for a 220-room hotel

at Raouche, Ras Beirut, is currently underway. On

completion, the $45 million project will be under the

management of international hotel-chain Kempinski.

The second project is a five-star hotel and shopping

mall in Verdun. This is estimated to require investment

of $100 million.

Optimum Developments is to launch the Ehden moun-

tain destination project. This will consist of two sepa-

rate components with nature integration as a major

feature.

KROUM is to be a traditional Lebanese commercial,

residential mixed use village, a 120 room 5-star hotel, a

residential spine offering a diversity of apartments and

a medi-spa.

LES PARCS D`EHDEN is an eco village, hill lakeside

cabanas and family dwellings, and a small conven-

tion centre. Both projects will complement the long

awaited Ehden Eco Ski Resort, to be developed on a

40,000,000 m2 car-free domain accessed solely by

a cable car departing from KROUM when it has been

constructed.

Communications & IT

Lebanon was one of the first countries in the region

to have widespread Internet access, given a strong

interest in technology, multilingual skills and a vast

expatriate population seeking to communicate with

relatives at home, but facing high fixed-line interna-

tional call costs. Dial-up Internet became widespread in

the mid-1990s, but fears of losses to the state-owned

telecoms provider from Internet telephony helped delay

the official introduction of broadband until 2007. In the

interim period, as many as 100,000 residents obtained

faster access through unlicensed cable, microwave and

satellite providers. The delay caused penetration rates

to fall behind those of most Gulf Arab states, although

the country remained ahead of other regional neigh-

bours, with a total of 230,000 subscriptions in 2005,

according to the ITU. Since the official introduction

of broadband, penetration has increased, but costs

remain high: for example, a 1Mb broadband connection

typically costs more than $100 a month.

130

COUNTRY NAME: Great Socialist People’s Libyan Arab Jamahiriya



LANGUAGE: Arabic (official), Italian, English

CURRENCY: 1 Libyan Dinar (LYD) = 1.000 Dirham 1 EUR = 1.7 LYD (Nov. 2010)

MAIN CITIES: Tripoli (capital), Benghazi, Al-Djofra, Misurata, Zawia, El Khoms, Ras-Jedir

NATIONAL DAY: 1 September – Revolution Day


LIBYA

LY

Libya, one of the largest countries of North Africa, represents an exciting emerging market in close proximity to Europe. Today there is much that is positive concerning its economy as Libya makes progress in integrating itself within the global trading system and embarks on a major eco-nomic program of development. Libya’s market is increasingly open to foreign investors and offers tremendous opportunities for new business. Libya is undertaking a LD150 billion ($126.5bn) five-year infrastructure redevelopment plan to modernise water, irrigation and sanitation facilities and build airports, schools and houses. Spending is also high on areas such as railways and telecommunica-tions. It is continuing with its efforts to diversify the economy and encourage more private-sector participation in areas like manufacturing and services. As the country moves forward with its modernisation and integration within the global economy, Libya offers potentially rich trade opportunities in nearly every sector, including oil and gas, agriculture, telecommunications, education, medical equipment and services and tourism.

Libya has been ranked by the World Bank as an “upper-

middle-income developing country”. The economy is

dominated by the oil and gas sector, through which it

has been transformed from a poor, largely agricultural

economy to one of Africa’s wealthiest nations. It has the

highest income per capita of the developing countries in

the Mediterranean region.

Income obtained from oil and gas exports has enabled

Libya to maintain a large public sector with extensive

public investment in services like health and education,

as well as agriculture and the development of non-oil

related industries.

Economy

Public services comprise about 7% of GDP. In 2009 the

oil sector provides about 70% of GDP, up from 50% in

2002 in line with rising oil prices during the period. The

share of other sectors to the economy has fallen corre-

spondingly, except for public services, which absorbed a

signifi cant proportion of the higher revenue.

The public administration employs some 16% of the

workforce; health services employ 12% and education

27%. While the relative dominance of the oil and gas

sector has continued to increase, the extraction industry

employs less than 2% of the labour force. The manufac-

turing industry employs 8%, while agriculture, forestry,

and fi shing employ about 7% (agriculture having declined

from about 70% before the growth of the oil industry).

The country operates a large trade surplus. Some 97%

of exports consist of oil, natural gas and petroleum-

based commodities. The remaining 3% mainly consist

of agricultural and fi sheries products. In 2007, 88% of

exports went to the EU, with Italy as the main destination,

followed by Germany, Spain and France.

Investment

The country’s Promotion of Investment of Foreign Capital

Law No. (7) 2003, which amended the Law No. (5) 1997

TRIPOLI

131

law on foreign investment, is the key investment law.

The 1997 law allowed 100 percent foreign ownership of

companies that receive a licence. Relatively few projects

were licensed, partly because of complex and time-

consuming procedures, and partly because key sectors

such as telecommunications, financial services and distri-

bution were excluded.

Under the 1997 law, the investor is entitled to employ

foreign staff and technical expertise necessary for the

establishment and operation of the project. The process

for obtaining work permits can be cumbersome. Article 8

of the 2003 foreign capital law specifies that investment

shall be allowed in the following fields: industry, health,

tourism, services and agriculture, with other field speci-

fied by a decision of the General People’s Committee

upon submission of the Secretary.

Banking & Finance

The most significant reforms in the service sector over

the past decade have occurred in banking and finance.

The latest Banking Law No.1 of 2005, along with the

Anti-Money Laundering Law No.2 of 2005, are aimed at

creating a new legal framework for the banking system.

The country’s five public banks were recapitalised and

its four private banks licensed. The Bank of Commerce

and Development is the most substantial of the four

private banks operating in Libya, and has led the way in

the modernisation of the banking sector by introducing

modern services such as ATMs and credit cards. Twenty-

one regional banks have been merged, banking super-

vision reinforced, interest rates and foreign exchange

partially liberalised, and the exchange rate unified.

2007 saw the start of a strategy announced by the

Central Bank as early as 2004, to restructure, develop

and modernise the banking system to reach standards of

international institutions.

Minority stakes of two Libyan banks were sold to foreign

investors. The first step was to sell off a minority stake in

Sahara Bank, Libya’s second largest commercial bank

with total assets of around $3.6 billion. BNP Paribas SA

won a bid for the privatisation of Libya’s Sahara Bank

with 19% of the shares, for about €145 million with the

option to raise their participation up to 51% in three to

five years. The Wahda Bank sale was structured in the

same way as the previous deal, with the offer of an initial

19% stake. In 2008, a number of foreign commercial

banks won approval to open their representative offices

in Libya.

The Libyan Stock Exchange, established in March 2007,

was the first exchange of its kind in the country.

Imports

Libya imports a wide range of industrial and agricultural

products; major suppliers for these products are Italy,

Libya

132

LY

Germany, China and Tunisia. China is now Libya’s third

largest supplier and the second largest after the EU as a

whole.

Libya is highly dependent on imports for much of its food

supply, particularly cereals and fats and oils. Approxi-

mately half of Libya’s food needs come from imports.

Major suppliers are Tunisia, the Russian Federation,

Turkey, the Netherlands and Italy.

Exports

Exports of agriculture goods are extremely small,

primarily animal and vegetable oils and fats, potatoes and

some beverages. Local consultations have confirmed a

prolific trade in smuggling subsidised food into neigh-

bouring countries means that much of Libya’s agriculture

exports not being captured by official statistics. Subsi-

dised agricultural products from Libya reach Chad, and

other Maghreb countries through Tunisia and then on to

Algeria.

Libya is a net importer of fish and fish products, a

trend that has increased over recent years as exports

of Atlantic bluefin tuna have declined and imports of

processed pacific tuna have increased substantially.

Fisheries exports are categorised by small volumes of

high value premium bluefin tuna and frozen fish fillets

sold to the Japanese and Korean markets, with higher

volumes of common varieties sold live or chilled to

nearby Tunisia, Malta and Turkey.

Energy Sector

Some 97% of Libya’s exports consist of oil, natural gas,

iron and steel and petroleum-based commodities. The

energy industry is thus the country’s most important

export industry and a key source of income.

Libya’s proven oil reserves of 41 billion barrels are almost

half the total reported oil reserves in Africa and over

3% of the world total. Libya has the largest proven oil

reserves in Africa, at 41.5 billion barrels as of January

2007 which is up from 39.1 billion barrels in 2006,

with new discoveries supporting, and often allowing

increases, in the rate of production.

Libya is currently the second-largest crude oil producer

in Africa, with an estimated 1.7 million barrels per day

in 2006. With current plans to expand production to 3

million barrels a day, Libya’s proven reserves would last

for 38 years. Despite the lifting of sanctions, Libya’s

current oil production is still only half of what it was in the

early 1970s, and is expected to climb back to 3 million

barrels per day by 2015.

It has been estimated that more than $30 billion in foreign

investment will be needed to achieve this increase in

production.

Production costs are relatively low, and Libyan oil is high

in quality. Low transport costs given its close proximity

to Europe give Libya a further advantage. European oil

companies maintained their operations after US compa-

nies left in the 1980s; the American companies signed a

Standstill Agreement with the Libyan National Oil Corpo-

ration (NOC) which allowed them to retain their original oil

rights and obligations. The NOC maintained production

at lower levels, and after the lifting of sanctions the US

companies resumed operations.

Some 5% of Libyan oil exports go to China. Libya has

given limited prospecting concessions to both China and

Taiwan. In 2004, the China National Petroleum Corpora-

tion constructed two oil pipes linking the Wafa oil field

with the port of Mellitah in association with the Italian

Ente Nazionale Idrocarburi and the Libyan National Oil

Corporation. Further pipelines are under consideration to

allow the export of oil from Niger via Libya.

Libya’s gas reserves are estimated at 1,500 billion cu.m.,

or 1% of world reserves. At an anticipated extraction rate

of around 12 billion m3/y the known reserves would last

for 125 years. However, at this extraction rate the income

from gas is considerably less than that from oil.

At an oil price of $50 per barrel, Libya’s oil income would

amount to some $50 billion per year. Its income from

natural gas at $350 per 1000m3 would be about $4

billion per year. If it were possible to increase the rate of

gas extraction to give the same annual income as oil, the

known reserves would last for 10 years. In total, Libya’s

132

133

Libya

Lib

ya

proven oil and gas reserves are enough to maintain its

national income for about 50 years.

Libyan natural gas exports have increased since 2005,

particularly to Italy. The NOC has a joint venture with the

Italian company, Agip, in the Western Libya Gas Project.

Most of the gas will be exported to Italy via the Green

Stream pipeline that was inaugurated in 2004, connecting

Libya to Italy via Sicily. This is the biggest foreign invest-

ment in Libya’s energy sector since UN sanctions were

suspended. For export further afield, Libya is expanding

its current LNG plants and building new ones.

Telecommunications

The telecommunications sector has grown dramatically

since 1990. Considerable further expansion is planned,

with a targeted increase in density from 12% to around

37% by 2020, at an estimated cost of $10 billion. Priva-

tisation of the state monopoly is not currently intended,

but foreign investors have played an increasing role.

In 2004, France’s Alcatel and Finland’s Nokia won the

contract to develop and construct the Libyan mobile

network.

In 2008, China’s Zhongxing Telecom Equipment signed

an agreement for the construction of the first network in

Africa under the WiMax regulation.

Tourism

As a preferred sector for foreign investment, the tourism

sector has attracted major investments from companies

in the UK, Italy and other countries. Driven by an ambi-

tious government target to see visitor numbers reach 10

million per year and lift the sector’s percentage of foreign

revenue to ten per cent, the Libyan tourism industry is

growing rapidly with the construction of hotels, resorts

and upgrades in transportation systems, including new

airports under construction in Tripoli and Benghazi.

Retail Sector

The retail sector has stabilised in recent years, following

the abolishment of a ban on private selling and control by

state owned stores. The sector is characterised by more

or less modern shops, mostly small; a traditional souk

selling mainly household goods, clothes and textiles;

and apparently unregulated street markets selling every-

thing. Restrictions on private ownership have been lifted,

attracting some local and foreign investment mostly into

the higher end sector.

Privatisation

The negotiations on the return of the American oil compa-

nies led to the introduction of a privatisation policy. Some

360 production units were scheduled to be transferred

from the public to the private sector between 2003 and

2008. By the end of 2004 only 14 had been successfully

privatised.

By August 2006 the number of privatised enterprises had

reached 67, with a total value of LD 696 million (about

$500 million). These included an aquaculture project, six

chicken factories, and a range of industrial companies.

134

COUNTRY NAME: Islamic Republic of Mauritania

LAND AREA: 1 million km2


LANGUAGE: Arabic (official), French, others

CURRENCY: 1 Mauritanian Ougiya (MRO) = 5 Khoums 1 EUR = 397,11 MRO (Nov. 2010)

MAIN CITIES: Nouakchott (capital), Nouadhibou, Kaedi, Zouérat

NATIONAL DAY: 28 November – Independence Day


MAURITANIA

MR

Mauritania lies mainly in the Sahara Desert belt of West Africa and shares borders with Morocco, Algeria, Mali and Senegal. The capital city and major port is Nouakchott while other major towns are Kaedi and Zouerate and the port of Nouadhibou. The country possesses a 700 km Atlantic coastline and in total is approximately twice the size of France, although over half of the land mass is desert.

Apart from its newly developed oil and gas sectors, Mauri-

tania depends on traditional agriculture, fi shing off its rich

coastal waters and a modern mining industry that devel-

oped in the 1960s following the discovery of high-grade

iron ore. Raising crops and pasturing livestock remain

the main economic activities. Major agricultural products,

produced chiefl y near the Senegal River on irrigated lands

and in scattered oases, are millet, dates, sorghum, and

yams. Livestock such as sheep, goats, cattle, and camels

are raised.

Iron ore sales account for about half of the country’s

export earnings. Gypsum and salt are also mined. Mauri-

tania has large copper ore reserves, but diffi cult mining

conditions and low world commodity prices have resulted

in mine closures. The country’s few manufactured goods

are made up principally of processed food (especially

frozen fi sh) and clothing. Smaller industries include

brewing, dairy processing, oil and sugar refi ning.

Fishing

The important fi shing industry contributes around 10

percent of the country’s GDP and 45 percent of its

export earnings. The main species of fi sh that can be

caught are deep sea and shellfi sh, such as shrimp which

are exported to markets like Japan. Fish stocks off the

coast of Mauritania are reputed to be among the richest

and most diverse in the world. The commercial value of

the fi sh stock is high. It is estimated, for example, that

the country enjoys the largest stocks of octopus and

croakers in the world.

Effective regulations and protective measures such

as patrols off the coastal waters help to prevent

overexploitation of the marine zone. A new fi sheries code

adopted in 2000 emphasised sustainable development

of the commercial fi shing industry, expansion of artisanal

fi sheries, reorganisation and modernisation of the

fl eet and development of processed product exports.

Mauritania has signed bilateral fi shery agreements

with Algeria, Japan, Morocco, Russia, Senegal, Tunisia

and the European Union. The potential for export

development in this sector lies in the expansion of

artisanal and coastal fi sheries.

There is a new zoning system in place to help boost

the level of activity and increase processing of fi sh

products, particularly, pelagic species, which are still

underexploited. Enhanced quality management and

better promotion will help to improve product access and

value on foreign markets.

Agriculture

This sector is the largest employer in the country,

accounting for nearly 50 percent of all jobs. The sector

has been liberalised to allow private operators to operate

where once the state sector was dominant. One of the

ALGIERS

NOUAKCHOTT

135

key measures of reform has been the development of

farm credit, which, initially, was available only for rice

production and is now open to other agricultural sectors.

Telecommunications & New Technologies

Mauritania has offshore oil and gas deposits and a growing

upstream oil industry. Offshore oil extraction began in

February 2006. GDP surged to 11.2% in 2006, which was

one of the highest growth rates in the world. Production is

expected to stabilise at around 30,000 barrels p/d thereby

moderating expectations of GDP growth. Mauritania is

one of the four oil refining countries in West Africa. Its

downstream oil industry is now a significant element in the

country’s economy. Oil derived products supply 95% of

the country’s commercial energy needs.

Mining

Mining of mainly iron ore is a major economic activity

accounting for around 12 percent of the country’s GDP

and is the leading employer after the public service.

Activity in the sector is dominated by the leading mining

company, Societe nationale industrielle et miniere

(SNIM). The country’s other commercially exploitable

mineral deposits consist of copper and cobalt. Gold and

diamond rich sites have also recently been discovered

through prospecting and they may prove economically

viable. De Beers and other leading diamond companies

are currently exploring the country’s potential in this

regard. On the strength of the deposits that have so far

been discovered, the World Bank reported that Mauri-

tania could become a diamond producer in the medium

term.

Mauritania

136

MR

Manufacturing

Manufacturing, handicrafts and fish-processing together

contribute about 7 percent of the country’s GDP. Food

processing is the main manufacturing activity, while non-

food manufacturing activities include chemicals and plas-

tics, building materials, paper and packaging. However,

these are all conducted on a small scale and are not

particularly attractive to foreign investors.

Tourism

Expansion of the tourism sector offers new and prom-

ising potential, if it were to receive a sufficient invest-

ment, particularly to improve facilities and infrastructure.

It is still very underdeveloped with annual revenues esti-

mated at only $20m and visitor numbers are currently

only in the thousands. Most visitors are business trav-

elers to the capital Nouakchott, where there are inter-

national standard hotels. Tourism in Mauritania consists

mainly of desert holidaying, which has seen demand

increase steadily over recent years, but other niche

tourism activities are emerging, such as fishing, hunting

and nature watching.

In addition to an attractive and extensive coastline,

Mauritania boasts a rich and ancient heritage which

includes the old trading and religious centres of

Ouadane, Chinguetti, Tichitt and Oualata. These areas

could attract more visitors if marketed energetically

and if basic infrastructure was improved. These ancient

settlements were founded in the 11th and 12th centuries

to serve the caravans crossing the Sahara and became

focal points of Islamic culture. They have preserved

an urban fabric that evolved between the 12th and

16th centuries. Typically, houses with patios crowd

along narrow streets around a mosque with a square

minaret. The four ancient cities have been designated

UN World Heritage Sites, while the nature reservation

of Banc d’Arguin is also protected. Mauritania is trying

to balance preservation of its natural environment with

development of tourism and increasing the number of

visitors.

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One factor hampering the growth in tourism is the fact

that international flights into the country are infrequent

and expensive. The part privatised national airline, Air

Mauritanie, flies to Paris and countries in West Africa.

Three international airports at Nouadhibou on the coast,

the main airport serving the capital Nouakchott, also on

the coast, and a third airport at the inland city of Atar,

have connections to 13 national airports and an

additional 20 airstrips.

Banking & Finance

Mauritania’s financial system includes 11 retail and

commercial banks, most of which began as joint ventures

between the state and foreign or domestic investors,

and were progressively privatised. As of December

2006, the 11 banks had aggregate assets of $1.0 billion

and managed approximately 125,000 bank accounts,

making Mauritania’s banking penetration rate a mere 4.2

percent. This is one of the lowest across all of Africa and

particularly in the surrounding Maghreb countries, where

banking rates are around 50 percent. However, bank

deposits have recently registered an annual growth rate

of 11 percent.

The arrival of more new international players reflects

the greater attractiveness of the sector. France’s BNP

Paribas Group was granted authorisation from the

Mauritanian authorities to open a full-service bank in

the country in September 2006. In April 2008, Emerging

Capital Partners (ECP), an international private equity

firm focused on investing across the African continent,

announced it had invested $15.9 million to acquire a

controlling interest in BACIM Bank, the seventh largest

banking group in Mauritania and whose parent organisa-

tion is the Central Bank of Mauritania. ECP’s investment

will enable BACIM to transform into a top-tier banking

Mauritania

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MR

institution by strengthening management, consolidating

resources, and upgrading technology infrastructure and

improving risk management.

“The Mauritanian banking sector is poised for significant

growth over the next five years due to solid macroeco-

nomic fundamentals, an emerging consumer market, and

a growing corporate sector,” said Vincent Le Guennou,

executive vice president of ECP. “We expect that

the growing Mauritanian economy and the increasing

confidence of the international community will continue

to stimulate foreign direct investment in the country,

resulting in substantial gains for the banking sector”.

Mauritania has adopted ambitious banking sector

reforms, in agreement with the IMF backed Financial

Sector Assessment Programme recommendations. This

is seen as critical to creating the conditions for higher

private sector-led growth. The increased presence of

foreign banks is likely to boost competition, and, along

with improved banking supervision, should strengthen

the financial sector.

The country saw the establishment of its first exclusively

Islamic bank with the launch of Al Wataniya in March

2008, according to North Africa Times. The new bank is

a pioneer in the sector and seeks to attract capital into

the country.

Exports

Mauritania’s major export industries are iron ore, fish

and fish products, while its most important imports are

machinery and equipment, petroleum products, capital

goods, foodstuffs and some consumer goods.

Other Sectors

There are development opportunities in the artisanal

sector, if initiatives are taken to improve artisan produc-

tivity, product quality and markets access. The govern-

ment adopted a plan for the handcraft industry designed

to develop and modernise sector. Financial and insur-

ance services, air transportation, health and education

have all been privatised. All these sectors offer attractive

investment opportunities, particularly for foreign direct

investments.

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Mauritania

140

COUNTRY NAME: Kingdom of Morocco



LANGUAGE: Arabic (official), French

CURRENCY: 1 Moroccan Dirham (MAD) = 100 Santimat 1 EUR = 11.15 MAD (Nov. 2010)

MAIN CITIES: Rabat (Capital), Casablanca, Fes, Marrakech, Meknes, Oujda, Agadir, Tangier, Tetouan, Laâyoune

NATIONAL DAY: 30 July


MOROCCO

MA

Morocco managed to resist the direct effects of the global financial crisis through solid fun-damentals and structural reforms, as well as its sound banking and financial system and efficient exchange rate regime. Nonetheless, given its open economy, Morocco has felt the impact of the economic downturn on those productive sec-tors that are most dependent on foreign markets, particularly Europe, the country’s main trading partner. In response, the country implemented a number of measures under the 2009 Finance Act to bolster domestic demand and investment and to support the sectors worst hit by the global crisis, while establishing mechanisms to monitor the results of the measures taken.

Foreign Direct Investment has increased substantially in

recent years; from an average of only $80 million in the

1980s to $500mn in the 1990s, it reached $3.5bn in 2008.

As a liberal economy, Morocco has long been open

to foreign investors and adopted reforms including

privatisation much earlier than many other countries.

Foreign investors are able to own 100% of their

businesses, land and properties without any need for a

local partner.

The economy has been boosted in recent years by

growing consumer spending and inward investment

which has been underpinned by state-backed

infrastructure projects and tourism. Domestic demand is

seen growing by 5.9%, down from 10%. Growth in 2008

was 5.6%. The HCP saw 2010 growth at 2.4%, although

much depends on volatile farm yields.

Highlights

Seven priority industrial sectors have been targeted by

Morocco for development to boost the country’s exports,

the country’s Ministry Industry, Trade and New Technolo-

gies has announced. The sectors comprise four new and

three traditional ones: automotives, aerospace, electronics

and offshoring were the new sectors offering opportuni-

ties, while agro-foods, seafood and textiles were the

traditional sectors to be upgraded. But all these sectors

equally possess great potential for development with the

help of investors and partners. The kingdom is the world’s

largest exporter of phosphates, a sector being developed

by state company Offi ce Cherifi en des Phosphates (OCP).

A number of international companies have signed partner-

ships with OCP. A new port at Tangier, being developed

by the Tangier-Mediterranean Special Agency, is set to

be one of the largest deep-water ports in the Mediter-

ranean. A second terminal, due to be operational in 2012,

will increase the port’s container capacity from 3.5 million

twenty-foot equivalent units (TEU) to 8.5 million TEU. The

scheme is being accompanied by major infrastructure proj-

ects in the area and is designed to promote regional devel-

opment. An integrated transport network, including new

road and rail networks, is set to cost $5-6 billion. Morocco

is also becoming a centre for offshoring, with its existing

fl agship offshoring zone, CasaNearshore, to be followed

by others in Rabat, Fez and Marrakech.

Banking

Morocco’s banking sector, like banking throughout Africa,

has not suffered as much as fi nancial sectors in other

RABAT

141

parts of the world, an international conference in Dar es

Salaam, Tanzania held on 10-11 March 2009 was told. In

Morocco, net profits in the banking sector was expected

to grow at around 15% in 2009, Mohamed Benchaaboun,

CEO of Morocco’s Banque Centrale Populaire, estimated.

But while the financial sector may have escaped the

turmoil, the continent is feeling the impact of the global

recession. In Morocco, Benchaaboun said, the recession

was slowing demand in such vital sectors as tourism and

remittances were also falling.

The strength of the banking and financial sector has been

improved by the success of Morocco’s economic reform

programme since the turn of the century which has

substantially strengthened macroeconomic conditions

and accelerated the pace of non-agricultural growth.

Increases in tourism and remittance receipts, coupled

with higher capital inflows, have sustained current

account surpluses for most of the period, and boosted

domestic liquidity. In contrast with what happened in

other regions of the world, these developments did not

fuel a credit boom, an IMF working paper observed.

During the first half of the current decade, the expansion

of the banking sector’s balance sheet did not translate

into a significant increase in credit to the economy. Its

ratio to GDP remained basically flat between 2000 and

2006; in fact, the share of the banking sector’s total

assets to credit to the private sector fell by 3 points

during this period. The most plausible explanation for

this lies in the structure of the Moroccan credit market,

the IMF said. On the supply side, bank credit is highly

concentrated with limited competition, with the three

largest banks accounting for roughly 60% of outstanding

credit to the private sector in 2007.

Tourism

The tourism ministry forecasted a record number of

foreign tourists in 2009 but expected that they would

spend less than in previous years. Tourism attracts

more investment than any other sector into the country

and contributes around 7% to the GDP annually, so

the government has been taking proactive measures to

ensure that this momentum continues through the global

downturn. With tourist receipts decreasing 3.5%, from

Dh58.67bn (€5.33bn) in 2007 to Dh56.59bn (€5.14bn) in

2008, internet marketing is being used more actively to

expand the arrivals base beyond the traditional European

markets with a focus on attracting tourists from Eastern

Europe, Russia, the Gulf and China.

Marrakech, Fez, Casablanca and Agadir have been

selected as priority regions for the expansion of high-

end cultural and beach tourism. Tourism initiatives also

Morocco

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include Plan Azur, Plan Biladi and Plan Madain which

are aimed at developing resorts, bolster domestic

tourism and showcase cultural destinations. Plan Azur

is expected to be the linchpin of the three, as Morocco

looks to capture some of the lucrative regional resort

market. As part of the Azur Plan, a 12 billion dirhams

($1.5bn) Mediterranean coastal resort was unveiled in

June. The Saidia Mediterrania resort, inaugurated by King

Mohammed VI, covers 696 hectares and will ultimately

have a capacity of 30,000 beds, and generate 8,000

direct jobs and 40,000 indirect ones by 2013. The resort

includes nine top hotels, 12 holiday villages, eight tourist

complexes, 2,700 apartments, 300 villas, three 18-hole

golf courses, a marina with 1,350 berths for boats, and

a 43,000-sq m “Médina Center” Mall that can host up to

160 shops.

Plan Azur aims to create new tourist destinations on the

Mediterranean and the Atlantic coasts.

Meanwhile, Morocco has been granted a €240m ($310m)

loan from the African Development Bank (ADB) to assist

in the upgrading of facilities at five of its largest interna-

tional airports: Casablanca, Rabat, Marrakech, Agadir

and Fez. In 2007, the five airports handled 91% of the

country’s total annual passenger traffic, comprising about

12 million people. The total cost of the airport redevelop-

ment plans is estimated at €320m.

A new low-cost airline, Air Arabia Maroc, started opera-

tions on 6 May 2009 with an inaugural flight to Stansted

Airport in London. The new Moroccan airline, flying to

selected destinations across Europe and North Africa,

was founded by Air Arabia, one of the first low cost

airlines in the region, in partnership with Regional Air

Lines, a leading private carrier in Morocco and Ithmaar

Bank of Bahrain.

Infrastructure

Morocco is speeding up investment on infrastructure

projects such as roads, highways, new railway lines and

the important Tanger Med Port complex, which will be

the biggest port in Africa. Social housing is another key

ambition with new urban areas planned.

The Union for the Mediterranean launched a new regional

infrastructure development fund, Inframed, at its meeting

in Alexandria, Egypt on 30 April 2009. The initiative

established a regional framework for public-private-

partnerships to aid the development of infrastructure

across the region and will participate in financing energy

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Morocco

efficiency, transportation, environmental and urban devel-

opment projects.

The union aims to raise more than €1bn ($1.3bn) in equity

capital for the new fund which is led by France’s Caisse

de Depots, Italy’s Cassa depositi e prestiti, Morocco’s

Caisse de Depot et de Gestion, and Cairo-based invest-

ment bank EFG-Hermes. The four institutions jointly

committed €400m to the project.

Morocco has put in place plans to develop the real

estate sector and attract investment into the property

market the plans include the building of up to 200,000

new housing units and the creation of three new cities

on an overall land area of 1,643 ha near the provinces of

Agadir, Settat and Nador.

Agriculture

The performance of the agricultural sector has been

strong of late with good harvest boosted by heavy

rainfall. In January 2009 it was announced that the

Plan Maroc Vert (Green Morocco), a programme to

upgrade the country’s global agricultural competitive-

ness would receive a budget of Dh20bn (€1.8bn) for the

next five years. The plan will renovate the sector through

increasing investment, improving management and

training, and working to provide access to water and

land.

Energy Sector

News of more gas finds in Morocco kindled hopes of a

new source of both energy and income for the country.

In March 2009, Dana Petroleum announced a new

“significant” gas discovery at Anchois, in the Tanger-

Larache licence, with its first well offshore Morocco. The

Anchois-1 discovery well is located about 40 km from the

coast and was drilled to a total depth of 2,435m. Prelimi-

nary estimates of reserves were said to be around 100

billion cubic feet. Earlier, Circle Oil Plc confirmed that it

had found natural gas in the north-east of capital Rabat,

as part of the Ouled N’Zala permit. At the same time,

Tethys Oil started drilling operations at the Tafejjart-1 well

on the Bouanane licence onshore Morocco.

In a move to meet supply challenges, to preserve the

environment, and to support sustainable development,

the country launched last November the Moroccan Solar

Energy Project which will be built on 5 sites. With a total

investment of 9bn $, the project aims at the installation

by 2020 a total capacity of 2.000 MW.

144

MUSCAT

OMAN

OM

The Sultanate of Oman is strategically located at the south-eastern corner of the Arabian Penin-sula, the junction of the world’s two large con-tinents: Asia and Africa and on the trade route between Europe, Asia and the Far East. His Maj-esty Sultan Qaboos bin Said is the Head of State of the country. His accession in July 1970 ushered in the new era and modern age for Oman. The Sultanate enjoys a stable social, political, and economic system with excellent relations with neighbouring countries. All this enabled the coun-try to play an active role in promoting regional political and economic cooperation. In addition to its rich cultural heritage it has a safe environ-ment, friendly people and abundant scenic beauty and variety. Oman offers a lot to attract tourists and business visitors alike.

Market-oriented policies and private sector development

are deeply rooted economic concepts and practices

in Oman. The government has always regarded a

dynamic private sector as the engine of prosperity and

growth. This is clearly refl ected in Oman’s Development

Strategy, which was adopted back in 1974. One of the

salient features of this strategy was to establish a free

competitive market economy with equal opportunities

for all.

Through consecutive Five-Year development plans,

Oman has achieved remarkable progress on both

the economic and social fronts in a relatively short

period of time. Nevertheless, after three decades of

intensive development efforts, Oman still faces a host

of challenges stemming mainly from the fact that the

economy is relying on oil which is a non-renewable

dwindling resource subject to a high degree of price

volatility. Recognizing this challenge, the government has

initiated a structural adjustment process aimed at laying

a solid foundation for a diversifi ed economy led by the

private sector. Entailed amending laws and regulations

such as Foreign Investment Law, labour law, and others

including the Commercial Law, the Agency Law, the

Copyright Law, and the Corporate Income Tax Law,

which are pursuing the provisions of the Basic Law of

the State proclaimed the supremacy of law as the basis

for governance and guaranteed equal opportunities and

freedom for all. These reform measures paved the way

towards improving the economy’s potential and its ability

to break away from its dependency on oil and to diversify

the sources of national income. To this end, a number of

huge projects have been completed or are underway in

the current Seventh Five-Year Development Plan.

These are the positive steps in Oman’s way to realize

its Future Vision, and outline the major policies and

mechanisms through which the country will achieve

sustainable development in a private sector-led and an

export-oriented economy with diversifi ed sources of

national income. With the objective of integrating into

the international economy, Oman joined World Trade

Organization in November 2000 and became a full-

fl edged member. Oman as a founding member of GCC,

is now part of the GCC Common Market and also playing

an active role in the Greater Arab Free Trade Area of the

Arab League.

With the successful completion of the Sixth Five-Year

Development Plan (2001-2005) and the satisfactory

COUNTRY NAME: Sultanate of Oman



LANGUAGE: Arabic (official), English

CURRENCY: 1 Omani Rial (OMR) = 1.000 Baisa 1 EUR = 0.52 OMR (Nov. 2010)

MAIN CITIES: Muscat (capital), Suhar, Sur, Salala, Ar-Rustaq

NATIONAL DAY: 18 November – Birthday of Sultan Qaboos


145

Oman

progress realized in the Seventh Plan (2006-2010). Oman

has confidence and a robust outlook for future.

Economic Outlook

For 2009, Oman has announced a US$16.7 billion

budget. The budget proposes to be flexible as it may

entail adjustments if the average oil price falls below

US$45 per barrel. Revenues are forecast to be US$14.6

billion, based on the assumption of an average oil price of

US$45 per barrel and production of 805,000 barrels per

day. An increase of US$1.6 billion in expenditure repre-

sents an 11 per cent growth from the previous year. The

development budget allocation of US$2.1 billion, showing

an increase of 10 per cent over the previous year, will

cover ongoing as well as new development projects listed

in the Seventh Five Year Plan (2006-2010). Additional

allocations have been made for the road sector, ports

and airports to spur the growth of the economy. Oman’s

tax rate is now the lowest in the region, according to

the Royal Decree No. 28/2009 issued in June 2009. The

new uniform of tax rate removes the disparity in tax rates

between foreign and local companies, and reduce the

tax rate to 12 per cent for all companies with an initial tax

free exemption of RO30,000.

Power & Water

The state-owned Oman Power and Water Procure-

ment Company (OPWP) aims to boost power generation

capacity in the Sultanate by around 3,200 MW through

the development of four new Independent Water and

Power Projects (IWPPs). The privately financed projects

— planned at Barka/Sohar, Duqm, Ghubrah and Salalah-

are targeted to be brought into commercial operation

over the 2010-2015 timeframe. The single largest among

these is an IWPP proposed to be established either in

Barka or Sohar. It will have a generation capacity of 1,300

MW and a water desalination component of 55,000 cubic

metres per day.

Omani government planned to complete the privatisation

of the Main Interconnected Transmission System, which

serves the north of Oman, by the first quarter of 2010.

The authorities are also considering the privatisation of

the three state-owned power distribution and supply

companies in the future.

Oman Wastewater Services Company (OWSC) has

signed two contracts worth over US$375 million, covering

the development of two key components of the Seeb

Wastewater project.

Oil & Gas

Oman has signed a concession agreement with Occi-

dental Oman Gas Company, a subsidiary of energy

major Occidental Petroleum, covering the exploration

and development of potential gas reserves in Block 62

(Habibah) in the Dakhiliya region. Occidental Oman Gas,

along with its partners, are committed to investing around

$500 million in exploration activities targeting Habibah’s

gas potential.

Dolphin Energy has begun the supply of Dolphin Gas

to Oman. Dolphin Energy signed a Gas Sales Agree-

ment with Oman Oil Company agreeing to supply the

Sultanate with up to 200 million standard cubic feet a day

of Dolphin Gas.

Transport & Communications

The Nawras consortium was awarded the second Inte-

grated Fixed Public Telecommunications License by the

Telecommunication Regulatory Authority (TRA). Nawras

is the Qatari telecoms operator Qtel’s 56 per cent-

owned subsidiary in Oman. Also, the TRA has issued

Class II licenses to five companies as resellers of basic

mobile services in the Sultanate. The licenses were

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OM

granted for a period of five years, but extendable if the

firms concerned comply with their license obligations.

The first phase development of a world-class airport

in Sohar is already in progress. The airport will form a

key component in a broader land, rail and air transport

network that will strengthen the Batinah region’s devel-

opment as a major centre for economic growth.

The first phase development of the airport at Ras al

Hadd is in progress. The airport is expected to be oper-

ational in 2010-11.

In the new industrial city in Oman “Duqm”, The first

phase of the Duqm International Airport project at a cost

of US$70 million will be executed by Desert Line Proj-

ects company, while a consortium of Galfar Engineering

& Contracting and South Korea’s Daewoo Engineering

& Construction have won the contract to build a ship

repair and drydock complex. Also a consortium of

Consolidated Contractors Company, STFA of Turkey,

and the Belgian-based Jan De Nul will undertake the

expansion of the Duqm port complex at an additional

cost of US$870 million. The new investment is in addi-

tion to an existing contract currently being executed

by the consortium. As a result of the upgrade, the total

investment in the Marine Works Infrastructure being

executed has been scaled up to around US$1.3 billion.

Oman plans to issue a major contract involving the

construction of a deepwater bulk jetty at the Port of

Sohar. Total investment is estimated at US$200 million.

German group Sellhorn won a contract to provide

consultancy work for the latest expansion of Salalah’s

southern port. The work involves overseeing the design

and construction of berths seven, eight and nine at the

site.

The state-owned Oman Shipping Company (OSC) is

seeking to raise US$4 billion in new credit facilities to

finance the ongoing expansion of the company’s fleet.

The company aims to buy between 15 and 20 tankers

for refined oil products, to meet rising demand.

The Indian group Consulting Engineering Services

(CES) won a contract to carry out a feasibility study for

Oman’s 260-kilometre long Batinah Railway which will

run along Oman’s northern coast. The company will

plan all elements of the design for the railway, including

passenger and freight services. The line is intended to

provide an alternative to travelling by car on the Batinah

highway.

Tourism & Real Estate

The first homes at “The Wave, Muscat” were completed

and the keys were recently handed over to their

first residents. The Wave is a US$805 million free-

hold Integrated Tourism Complex project and when

complete will cover an area of 2.5 million square metres

combining more than 4,000 residential homes, as well

as retail, leisure and hotel accommodation, a marina

and a golf course. Over 600 homes are currently under

construction.

Oman’s first Integrated Tourism Project, Muscat Hills,

was to be opened the first 9 holes of the 18 hole cham-

pionship green golf course in March 2009. The US$780

million project comprises an 18 hole green golf course,

a gated residential development, a boutique resort

hotel, premium office space, retail outlets and entertain-

ment options.

Al Madina A’Zarqa (Blue City) project is to be built over

a 32 sq. km. water front at Al Sawadi, 45 minutes from

Muscat. The first phase of the US$15 billion project to

build a mega city is currently in progress. New tourism

projects in Oman are expected to provide 10,000 direct

jobs during the next five years.

Industrial Sector

The US$2.4 billion Sohar Aluminium smelter began

operations on June 11, 2008, with capacity produc-

tion approximately 350,000 metric tonnes per year. The

company will export about 140,000 tonnes of its annual

production, while the remaining 210,000 tonnes will be

sold to local companies that have been formed to cre-

ate a new downstream aluminium industry.

Construction work on a major aluminium rolling mill was

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Oman

Om

an

scheduled to commence at the Sohar Industrial Estate

in the second quarter of 2009. The project promoted

by Takamul Investment Company SAOC in partnership

with Bahrain’s GARMCO, involves a capital investment

of around US$325 million. The project will have a total

capacity of 160,000 tonnes per year of aluminium gen-

eral coil, foil and paint stock products. The rolling mill

project will depend on hot metal as feedstock from the

Sohar Aluminium smelter.

Oman signed two contracts to the accelerated develop-

ment of the iron ore pelletizing plant and distribution

centre, which the Brazil-based conglomerate is devel-

oping at the industrial port with an investment of US$1.4

billion. The venture involves an iron ore pelletizing plant

with a production capacity of nine million tonnes per

year of direct reduction pellets. The first plant is due to

come on stream in December 2010. In this regard also,

Oman and Brazil have signed an agreement for the sup-

ply of gas for 20 years for the iron ore pelletizing plant of

the Brazilian-based Vale company which will be set up

at Sohar Industrial Port.

Takamul Investment Company, a majority Omani gov-

ernment owned investment vehicle, plans to establish

a ‘Minerals City’ in the Sultanate to serve as a hub for

a number of ambitious minerals-based downstream

processing projects. Key among these ventures is a

magnesium-ferrosilicon project. The company is weigh-

ing the feasibility of developing a 30,000-tonnes-per-

year capacity project at an estimated cost of US$250

million. Commissioning is slated for 2011. A salt/soda

ash project is also planned in partnership with Indian

business conglomerate Tata. Feasibility studies now

under way into the US$450 million project, envisage an

output of 100,000 tonnes of salt and 500,000 tonnes

of soda ash. Takamul is also promoting a string of pet-

rochemicals based downstream ventures. The biggest

among these is a US$800 million Purified Terephthalic

Acid (PTA) and Polyethylene Terephthalate (PET) project

in association with an international partner. The venture,

with a proposed capacity of 700,000 tonnes of PTA and

430,000 tonnes of PET, is planned to come on stream in

the second quarter of 2012.

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PS

JERUSALEM

PALESTINECOUNTRY NAME: Palestine



LANGUAGE: Arabic

CURRENCY: 1 Israeli New Shekel (ILS) = 100 Agorot 1 EUR = 4.98 ILS (Nov. 2010)

MAIN CITIES: Jerusalem (capital), Gaza, Ramallah, Nablus

NATIONAL DAY: 15 November


The Palestinian economy has been sustained by enormous injections of foreign aid and the recent growth in the West Bank has been a direct result of a large increase in such investment flows combined with increased security. In 2008, budget support alone increased by nearly 80% from the 2007 level and at close to $1.8 billion, was equivalent to about 30% of GDP. The Pales-tinian Authority (PA) has relied on donor funding to pay salaries and clear arrears to public sector employees and the private sector that had accu-mulated during 2006 and 2007. The 2009 budget assumes that donors will maintain the high level of budget support and calls for close to $2.8bn in aid for 2009, taking into account the recovery and reconstruction needs in Gaza.

Economy

The International Monetary Fund has said that the Pales-

tinian economy could post its strongest performance in

years in 2009, but only if border restrictions on Pales-

tinian trade and movement are eased substantially. The

growth, projected to be as high as 7%, could further

stabilise the West Bank, bolster peace efforts and ease

the fi nancial burden on the international community.

Donor countries spent some $1.8 billion in 2008 alone

to cover the Palestinian defi cit, in part to make up for a

stagnant economy.

For solid growth to be sustained beyond 2009, trade

restrictions imposed on the West Bank would also need

to be eliminated, stated the IMF representative in the

Palestinian territories, Oussama Kanaan, on 15 July 2009.

The Palestinian economy grew 2.3% in 2008, despite

a sharp downturn during the fi nal quarter under the

impact of the global downturn. The Palestinian Central

Bureau of Statistics (PCBS) indicated that the gross

domestic product (GDP) of the West Bank and Gaza

rose to $4.64bn in 2008, up from $4.53bn in 2007. The

fi gures would make 2008 the best year for the Palestinian

economy in terms of GDP alone for more than a decade.

The largest contributing sectors to the economy were

mining, manufacturing, electricity and water, retail, and

public administration and defence.

Palestinian authorities are in the process of rebuilding the

economy following the devastating impact of the three-

week onslaught on Gaza at the end of 2008.

According to the World Bank, budget support remains

indispensable to allow the PA to continue to provide

basic services and is appropriate given the good perfor-

mance in public sector management. Improvements in

security in the West Bank have not yet translated into

increases in private sector activities and investment proj-

ects have still to deliver tangible results.

Funds pledged at the “International Conference in

Support of the Palestinian Economy for the Reconstruc-

tion of Gaza”, which was held at Sharm El-Sheikh in

Egypt on 2 March 2009, have not yet translated into

tangible progress towards reconstruction of Gaza due to

the restrictions that that region is under.

According to a World Bank report, “Palestinian Economic

Prospects: Gaza Recovery and West Bank Revival”,

published in June 2009, restrictions imposed on both the

West Bank and Gaza are still “preventing any real upturn

in economic activity”.

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Palestine

As a result, the West Bank economy in particular is

“dramatically failing to fulfil its potential even in periods of

relative stability in the security situation”.

The report showed that progress in the relaxation of

economic restrictions during 2008 had been marginal

at best. As a result of imposed security measures, the

Palestinian economy “hollowed out”, with the produc-

tive sectors declining and the public sector growing, with

more of the Palestinian population looking to the public

sector for employment and assistance in coping with the

impact of unemployment.

Even before the onset of hostilities in Gaza in late

December 2008, the macroeconomic environment in

the Palestinian territories had been more difficult than

anticipated in the Palestinian Reform and Development

Plan (PRDP) for 2008-10. Restrictions in the West Bank

continued during 2008, while Gaza’s isolation increased.

Moreover, inflation was much higher than anticipated,

which further eroded real wealth and incomes. Never-

theless, in the West Bank the adverse impact of these

factors on private sector confidence and growth was

tempered by the redeployment of security forces in

several cities, as well as prudent expenditure policy that

minimised new arrears accumulation. Overall, real GDP

growth in 2008 in the West Bank & Gaza is estimated at

about 2%, which translates to a decline of almost 1%

in real per capita terms, resulting in a per capita income

of just over $1,000 in 2008. The Gaza economy, already

devastated from years of blockade, was further ravaged

by the recent military operation. Consequently, what little

growth has occurred, has taken place in the West Bank.

On the other hand, the global financial crisis has thus far

not had a significant impact on the Palestinian economy,

according to IMF assessment.

Agriculture

Agricultural output in 2008 was about 55% below its peak

in 1999, according to statistics bureau PCBS. The agri-

culture sector has been severely affected by continued

military operations, with the widespread destruction

of cultivated land, greenhouses, livestock and poultry

farms, water wells, irrigation networks, and other produc-

tive assets. Fragile ground-water resources have been

severely compromised, particularly from the destruc-

tion of the waste-water infrastructure, which released

hundreds of thousands of cubic meters of raw sewage

into the environment.

Palestinians suffer from serious water shortages and

investment in water supply and sanitation infrastructure

has dropped to very low levels. For example, current

investment in the West Bank water sector is one tenth

of planned levels, the World Bank estimates. Few major

investments are going ahead and more is being invested

in small local emergency projects than in large infrastruc-

ture projects. In effect, emergency projects have become

PS

the norm. Waste water treatment investments have been

blocked for a decade, and only one of seven planned

new plants, at al-Bireh, is operational. Meanwhile, Gaza

drew up a well designed master plan for water and sani-

tation, but unfortunately less than 2% of the investment

programme has been implemented. The plan provided

for an integrated production and conveyance system,

and a major expansion of wastewater treatment capacity,

including three new plants.

Construction

The construction sector saw little growth in the last four

years and is only a third of its size in 1999. Recently,

a few large housing construction projects have been

announced in the West Bank, including a new planned

community north of Ramallah, which will require over

$500 million in private investment. If these projects come

to fruition they would give a large boost to the construc-

tion sector.

The development plan envisages a dynamic private

sector as the engine of economic growth. Private sec-

tor growth is necessary to provide jobs for the rapidly

expanding Palestinian population and tax revenues to

support government programmes. The plan affirms the

Palestinian economy’s enormous potential for future

growth and the urgent need for a revival from its current

condition, recognising that political uncertainty, com-

bined with continued expansion of settlements, restric-

tions on movement and trade, and restrictions on access

to resources, have strangled investment and stripped the

economy of the bulk of its productive capacity. None-

theless, strategies are being developed to encourage

productivity and growth in the industrial, agricultural,

housing, and tourism sectors and allow the Palestinian

economy to develop a diversified export portfolio. To this

end, in 2008, the Palestinian Public Private Partnership

was established with representatives from the public

and private sector. This organisation meets regularly to

identify needed policy changes and help guide the PA’s

private sector strategy.

Telecoms

During 2008, on the back of three major Palestinian invest-

ment conferences held in Bethlehem, Nablus, and London,

a number of large initiatives were launched, among others

the introduction of a second mobile telephone provider

(Wataniya Telecommunications Company), the planning

of large new housing projects, and a new housing finance

fund. In addition, older initiatives for the construction of

several industrial estates across the West Bank in Jericho,

150

151

Palestine

Pale

stin

e

Jenin, Tarkumiya and Bethlehem, were revived. However,

in the face of ongoing economic restrictions most of these

projects have not got off the ground to date.

The World Bank report pointed out that although a

frequency agreement was signed between the PA and

Israel to enable the introduction of a second mobile tele-

phone provider in 2009 the frequencies have so far not

been released. This could have serious consequences for

the investment climate, competition in the telecommunica-

tions sector, as well as for the PA’s fiscal position due to

the potential loss of an estimated $354mn in licensing fees.

In the PA’s budget for 2009, the share of development proj-

ects in total spending was targeted to rise from 8 to 13%,

as part of the authority’s strategy of assuming increased

“ownership” of public investments. Expenditure on devel-

opment projects for 2009 was budgeted at $503mn,

consisting of $200mn in large infrastructure projects and

$303mn in community-based projects. This compares with

an estimated total public investment of $250mn in 2008,

about $60mn of which was on community-based projects.

Outlook

Despite the problems, Palestine as a market-based econ-

omy has tremendous investment potential in the future

given the right conditions. Though the Palestinian econ-

omy faces immense challenges, especially since 2000, it

also has many advantages, including a forward-thinking,

entrepreneurial, and talented private sector, and a rapidly

growing and well-educated workforce.

The business sector consists of many small local busi-

nesses that aspire to a high-level of professionalism and

product quality. Large enterprises are internationally con-

nected, with partnerships extending to Europe, the Gulf,

and North America.

Human capital is an invaluable asset for the Palestinian

economy as it seeks to develop and strengthen. With

a very young population, the workforce is expected to

expand significantly over the next several decades. Pal-

estinians entering the labour market are generally highly

educated, multilingual, and well versed in the new tech-

nologies and practices conducive to doing business at a

global level.

Palestine also boasts a multitude of promising economic

sectors offering opportunities for investment. The ser-

vices sector, with the sub-sectors of internal trade, trans-

port, tourism, and information technology, are all ripe for

expansion. The construction, manufacturing and mining,

and chemical industries also promise fruitful investment

opportunities.

152

QA

DOHA

COUNTRY NAME: State of Qatar




CURRENCY: 1 Qatari Riyal (QAR) = 100 Dirham 1 EUR = 4.95 QAR (Nov. 2010)

MAIN CITIES: Doha (capital), Ras Laffan

NATIONAL DAY: 3 September – Indepence Day


According to the International Monetary Fund, Qatar’s economy was expected to grow by 29% in 2009, the fastest rate in more than a decade, as its natural gas production almost doubled. The country was also expected to maintain budget and current account surpluses. Qatar is also iden-tified as one of the high growth markets offering most potential for exporters and investors.

In early 2009, the IMF said, “Qatar is the fastest growing

economy in the Gulf region and has so far managed well

the impact of the global fi nancial crisis. Construction,

manufacturing and fi nancial services were all projected

to grow at a strong pace. Qatar’s economy expanded an

estimated 16.4% last year and is expected to perform at

least as strongly in 2009.”

While oil and gas will remain the mainstay of the Qatar

economy into the foreseeable future, signifi cant efforts

and investment are being made into the development and

expansion of several economic sectors in order to diverse

the country’s sources of revenue.

Real estate, petrochemicals, fi nancial services, including

Islamic banking, research and development, IT and

tourism are regarded as particularly potential and offer

notable business and investment opportunities. Services

such as health and education are receiving signifi cant

investment.

The country’s non-energy sector has been expanding

with Qatar seeking to increase its contribution to the

economy to 80% by 2015. The petrochemicals industry

already constitutes an important sector for Qatar which

is now the third largest petrochemicals producer in the

Middle East. The country currently exports 8.5m metric

tonnes per annum and plans to invest in the sector to

boost exports to 28mta by 2012, which if achieved would

make it the world’s largest producer.

Other important non-oil industries receiving an injection

of investment are cement, metals and chemicals.

Over recent years Qatar’s economy has experienced

rapid growth, largely because of an increase in its gas

production. Five more liquefi ed natural gas (LNG) “super-

trains” are expected to come on stream by 2010, driving

remarkable rates of real economic growth, although there

were some technical delays in the fi rst super-train, which

delivered its fi rst shipment in March 2009.

Qatar has been increasing gas exports to boost

economic growth and in 2009, it stepped up the search

for new and short-term customers for its LNG as

demand in some of its main markets, especially Japan

and South Korea, waned owing to the global recession.

With proven reserves of 25trn cu metres and production

capacity expected to reach 77m tonnes by the end of the

decade, Qatar is seeking to become the world’s leading

supplier of LNG. It is becoming increasingly important

as a supplier of gas to Europe and has signed deals with

several countries in the EU.

Real Estate & Construction

The real estate and construction sector has been

booming over recent years and was one of Qatar’s

drivers of growth in 2007 and 2008 with demand strong

in various different niche areas of the market. The sector

provides continuing opportunities for developers and

contractors, as a result of the ongoing government-

QATAR

153

Qatar

backed infrastructure and housing projects. The resi-

dential market has proven especially strong with growth

stimulated by increasingly prosperous Qatari nationals as

well as the influx of expatriates over recent years pushing

up demand. Qatar has unveiled some ambitious mixed

use integrated real estate projects at the luxury end of

the market such as the $2.5 billion Pearl Qatar and the

$5.5bn Lussail waterfront development, the latter set to

provide housing for some 200,000 people. Other proj-

ects have been unveiled to cater for rising demand at the

lower and middle range of the market.

Meanwhile, Qatar’s commercial real estate market has

been expanding with around 800 new towers under way

or planned.

Transport

While Qatar already has an extensive transport network,

this is being rapidly expanded to meet present and future

needs of the economy. Planned spending on major trans-

port infrastructure projects is estimated to be around

$21.6 billion. Among the new developments is a $2.7bn

causeway that will link Qatar and Bahrain, which at more

than 40 km long will be the longest such link in the world;

the New Doha International Airport, whose construction is

expected to be completed in 2015; and an important new

port project at Mesaieed.

Tourism

Qatar hopes to see the expansion of its role as a prime

venue for specialised tourism activities with areas like

business meetings and conferences, sporting events and

cultural tourism seen as offering the most potential. The

country is fortunate in its having many archaeological sites,

island resorts, seaside towns and historical attractions

such as forts and castles which are more than sufficient

to satisfy the curiosity of the tourist. Other tourist attrac-

tions relate to Qatar’s extensive sports and leisure facilities

including golf, horse riding, falconry, boating, swimming

and deep-sea fishing.

Attracting Talent

Despite the global downturn, Qatar has remained a desir-

able location for many and continues to attract talented

professionals who are helping to maintain its growth,

according to the findings of a REED survey released in

July 2009. According to the report, energy, property and

construction, aviation, information technology, financial

154

QA

services, accountancy and banking remain the strongest

sectors for attracting overseas talent.

Nevertheless, Qatar saw its population fall by more

than 40 thousand people in June 2009 from May, after

witnessing growth for the first five months of the year,

official data has shown. As of 30 June 2009, the popu-

lation stood at 1.61 million people, compared with

1.65 million in May, according to data released by the

Qatar Statistics Authority. In the beginning of June, the

authority said Qatar’s population grew 6.5 percent to

1.65 million in the first five months of the year from 1.55

million in December 2008. The majority of the country’s

population is comprised of expatriate workers. It can also

be mentioned here that Qatar has pursued a determined

“Qatarisation” policy under which all joint venture indus-

tries and government departments seek to place Qatari

nationals into managerial and decision making positions.

As a result growing numbers of foreign-educated Qataris

have been returning home to assume key positions

formerly occupied by expatriates.

Research & Development

Qatar aims to establish itself as a centre for research and

development in the Gulf and one of the cornerstones of

the policy in this regard is the Qatar Science and Tech-

nology Park (QSTP), which was officially opened on 16

March. A project of the Qatar Foundation, QSTP is part

of the larger Qatar Education City, which is being devel-

oped as a key component of the country’s programme

to expand its skills resources and build a knowledge-

based economy. Education City is a major educational

and cultural development in Qatar housing some of

the world’s leading academic institutions on a 7-million

square-metre site and is set to position Doha as a key

centre for education and scientific research in the Gulf.

Telecoms

Qatar’s telecommunications sector has undergone major

changes over the past decade at a time when the country

has gone through a period of economic boom. Supplier

and regulator Qatar Public Telecommunications Corpora-

tion − now known as Qatar Telecom QSC (Qtel) − offered

45% of its share capital to the public in 1998. Its reve-

nues increased from $295 million in 1997 to $2.8 billion

by 2007. Qtel has reported a 33.1% increase in its mobile

subscriber numbers for 2008, giving it a customer base

of 1.683 million. There is a strong demand among Qataris

for multiple handset ownership and subscriptions, an

opportunity that new market entrant Vodafone is hoping

to tap into.

In 2006, Qatar established ictQATAR as the new regu-

lator of ICT activities, tasked with protecting consumers

and fostering new and innovative ICT technologies.

ictQATAR has taken initiatives in e-education, e-health,

155

Qatar

Qa

tar

e-business, e-government, cyber security and infra-

structure. ictQATAR has also licensed a consortium

comprising Vodafone Qatar and Qatar Foundation to be

the second GSM carrier in the country.

The new integrated real estate developments now under

construction promise a qualitative jump in available ICT

infrastructure and services, since comprehensive broad-

band services are an integral design feature.

Free Zones

In 2005, Qatar enacted a law for the establishment of Free

Zones aimed at further diversifying the economy. Compa-

nies setting up in the free zones can operate and trade

without a local sponsor or service agent, and enjoy 100%

non-Qatari ownership and many other benefits.

Environment

Protection and management of the environment is one

of the four pillars enshrined in Qatar’s National Vision

2030, the country’s strategy for the next two decades

which was issued in October 2008. Economic diversi-

fication along with population expansion, industrialisa-

tion and a growth in construction projects have all put

tremendous pressures on Qatar’s environment so action

is being taken to address the threats posed to environ-

mental sustainability. Raising awareness among Qataris

of the importance of conservation is a key plank of the

country’s attempts to preserve its fragile ecosystem. The

Ministry of Environment takes overall responsibility for

balancing the often conflicting needs of economic growth

and environmental protection.

156

SA

RIYADH

The Kingdom of Saudi Arabia’s 2009 budget pro-jected a 16% increase in expenditure, reaching a record $126 billion. Several projects, in power generation, desalinisation and transport infra-structure, are seen as strategic, with the Kingdom aiming to further diversify its hydrocarbons-based economy.

Between 2003 and 2007 real GDP growth averaged

around 5% a year, the strongest growth in a decade.

In 2008, real GDP growth is estimated to have reached

4.5%, largely driven by strong private and public

investment expenditure on the back of record oil prices

and abundant liquidity.

Advances have been made in improving the investment

climate in recent years as is indicated by how the country

has risen on the World Bank’s ranking of countries that

facilitate investment, from 67th place 2005 to 16th in

2008. Economic diversifi cation is seen as a special

challenge because of decades-long dependence on oil

revenues as a key source of income.

Oil & Gas

In 2008, the oil sector accounted for about 32% of real

GDP while oil export revenues represented about 90%

of total exports and public revenues. Crude oil is used as

feedstock and fuel, in addition to products, natural gas and

natural gas liquids, for industry and utilities, which benefi t

a wide range of industries such as petrochemicals, mining,

cement, power generation and desalination. Oil also

contributes to the diversifi cation of industries in related

sectors like the petrochemicals. The combined efforts of

the petroleum and industry sectors led to the expansion of

secondary and specialised chemical industries. This has

been followed by the launch of industrial clusters.

The Kingdom is seeking to attract investment in industries

where it enjoys a relative advantage and which are associ-

ated with the oil industry, including metal industries and

auto supplies, such as tyres, in addition to the packaging

and packing industries.

Saudi Arabia’s industrial clusters programme seeks to

attract, facilitate and develop a number of pivotal projects

by 2013. The anticipated total private sector investments in

all the projects of these clusters are estimated at SR40bn.

Growth in demand by industries and utilities for fuel and

feedstock has resulted in the expansion of the Kingdom’s

natural gas industry – in exploration, production and

processing – in tandem with the progressive growth in oil

production and refi ning. Saudi Aramco’s efforts managed

to yield an increase in discovered gas reserves from 184

trillion cubic feet in 1990, almost one-quarter of which was

in the form of non-associated gas, to 267 trillion cubic feet

in 2008, more than half in the form of non-associated gas,

notwithstanding cumulative production of some 97 trillion

cubic feet during the period.

Saudi Aramco’s programmes for reserve development

and gas production continue with, for example, the Karan

offshore gas fi eld expected to boost production capacity

by some 1.8 billion cubic feet per day.

Similarly, refi ning projects, which are associated with

petrochemical complexes, such as the Petro Rabigh and

Ras Tanura projects, and other projects in Jubail, Yanbu

and Jizan, aim to expand refi ning capacity and diversify

the petrochemical products base. Cooperation between

SAUDI ARABIA COUNTRY NAME: Kingdom of Saudi Arabia



LANGUAGE: Arabic

CURRENCY: 1 Saudi Rial (SAR) = 100 Halala 1 EUR = 5.04 SAR (Nov. 2010)

MAIN CITIES: Riyadh (capital), Jiddah, Dammam

NATIONAL DAY: 23 September


157

Saudi Arabia

the mining and petroleum industries – implementing the

active and planned projects at Ras al-Zawr Port, in prepa-

ration for completion of the railway link project connecting

the Northern Frontier Area via the Central Province to the

Eastern Province – is set to lead to the exploitation and

processing of raw phosphate and bauxite, coupled with

creation of an industrial base that combines the oil sector

with the minerals and petrochemical industries, expanding

from there into more diversified and more specialised

industries.

Banking Sector

Having been left largely unaffected by the international

credit crisis, Saudi banks maintained their stability and

will now profit from the trickle-down effect of the large

government-driven infrastructural development projects.

Saudi banking has remained strong due to its adequate

liquidity base and asset quality, according to Fitch Ratings.

A slowdown in lending in the first quarter of 2009 was

apparent and, according to figures from the Saudi Arabian

Monetary Agency (SAMA), the Kingdom’s commercial

banks reduced lending in the first quarter of 2009 by 3.6%

year-on-year to SR35.5bn ($9.48bn).

Consumer credit is considered an area with large poten-

tial for growth. Demographically driven sectors, such as

housing, are expected to continue growing. Mortgage

schemes have long been heralded as one of the most

promising areas of business for banks in the Kingdom.

Government estimates put the demand for new housing at

130,000 units per year. Final approval for the long-awaited

mortgage law is expected to come by the end of 2009.

Trade

Saudi Arabia lifted customs tariff on 92 new products in

June 2009 in line with World Trade Organisation (WTO)

rules. The move brought the total number of products

that enjoy either tariff exemption or reduction to 851.

The Kingdom joined the WTO in December 2005. As

listed on the custom’s website goods exempted from

tariff include live horses, sheep, goats, turkey, meat of

sheep, various types of fish, vegetables and fruits and

wheat and rice flour. Some major products now enjoying

tariff cuts are bottled water, soap, sanitary pads,

napkins, tissue papers, detergents, gypsum, paints,

plastic pipes, materials required for doors, electric wire,

pre-cast building blocks and fertilizers.

Non-Oil Spending

The non-oil sector has been expanding rapidly over the

past few years and the IMF forecasts an expansion of

over 3% in the sector in 2009, which would be down

on the 5.3% in the previous year, but it remains posi-

tive in the context of the global downturn and the fall in

world oil prices. A surge in public sector spending has

been comfortably financed by assets built up during the

recent oil price boom. This is strengthening the non-oil

sector. Public sector deposits with domestic banks are

worth around SR980bn ($260bn), according to Samba

Financial Group. The value of non-oil contracts awarded

by the public sector exceeded SR225bn ($60bn) —

equivalent to 18% of the forecast for total GDP for 2009.

The increase in investment helped reassure investors

158

SA

that Saudi Arabia remains committed to supporting

non-oil growth and expanding and improving its infra-

structure over the medium term, Riyadh-based Samba

Financial Group said in a report, “Saudi Arabia: 2009

Mid-year Economic Review and Forecast”.


Major investment in the infrastructure and construction

sector remains dominated by the approximately $120bn

in the Economic Cities developments over the next five

year. Despite the downturn in global markets, develop-

ment and investment in Saudi Arabia’s real estate sector

are expected to remain strong. At least 10 major new

city and real estate projects are currently underway in

the country. These include the King Abdullah Economic

City (valued at $93bn), Prince Abdulaziz bin Mousaed

Economic City ($53bn), Jizan Economic City ($30bn),

Jeddah Project Mile High Tower ($10bn), Shamieh

Project ($9.3bn), Madinah Knowledge Economic City

($7bn), Al-Zahira City ($4bn), Jabal Omar ($3.3bn), Injaz

($3bn) and Riyadh Marriland Leisure Park ($3bn).

Meanwhile, Emaar Properties has been considering bids

from seven architects for the contract to draw up the

concept design for its 1 km tall Kingdom Tower to be

built at Jeddah Kingdom City. Development manager

Emaar is working on behalf of Saudi Arabia’s Kingdom

Holding Company after the two firms signed a manage-

ment agreement in early June 2009, under which Emaar

will oversee construction of the entire 23km2 of Jeddah

Kingdom City. There are sound economic arguments for

the tower with industry insiders predicting that comple-

tion of such a landmark project is set to increase the

cost of properties in the city.

Saudi Arabia remains one of the most active construc-

tion markets in the world as it improves its infrastruc-

ture to meet domestic demand with more than 350 of

the active projects in construction. The civil building

construction industry has not been much affected by

the economic crisis, according to a study by research

house Proleads Global released in August 2009.

“Insights Saudi Arabia: An Investigation into the Current

and Future State of the Civil Building Construction

Industry” examined more than 720 projects with a total

budget of more than $430bn across commercial and

retail: education and healthcare, leisure and entertain-

ment, and residential sectors.

“The market in Saudi Arabia is expected to maintain

current levels throughout 2010, although slight decline

is expected in the education and healthcare sectors

countered with an expected slight growth in commer-

cial and retail,” commented Emil Rademeyer, Director

of Proleads Global. “Our cashflow projections show

the Saudi Arabian industry will continue building from

a position of strength well into 2010, whereas other

Arabian Gulf markets continue to seek stability,” he

added. Less than 80 active projects, with a total value of

around $20bn were placed on hold or cancelled in Saudi

Arabia in marked contrast with the other markets.

Petrochemicals

The important petrochemicals sector is one of the corner-

stones of the country’s economic diversification ambi-

tions with the government seeking to make it a worldwide

sector leader by 2015. According to Bank Audi, it is esti-

mated that more than $70bn could be injected into the

sector by 2011in the form of public-private partnerships

and joint ventures with foreign petrochemicals firms.

The sector profits were impacted by the global situa-

tion in 2008, but by the second quarter of 2009, Saudi

Basic Industries Corporation (SABIC) was outperforming

its international rivals, despite a 76% drop in profits

compared with the same period in 2008. The company

reported net profits of SR1.8bn ($480m) for the second

quarter, down from SR7.5bn in the same period of 2008.

Bahrain-based investment bank SICO said that despite

the fall in profits, the company is still performing much

better than other petrochemicals producers worldwide.

Power & Water

Saudi Arabia has one of the largest per capita electricity

consumption rates in the world and its growing popula-

tion means that demand is rising rapidly, with regional

electricity consumption estimated to be growing at 5–6%

a year. According to current industry reports, demand for

power in the Kingdom is projected to double by the 2030

to reach 50 gigawatts. In addition to meeting the needs

of the growing population, Saudi Arabia needs to expand

its power capacity and network to support its ambitious

industrialisation plans.

Saudi Arabia has one of the most sophisticated water

desalination sectors in the world and spending is set

to remain high with an estimated $90bn needing to

be spent over the next 20 years on the expansion and

maintenance of existing water desalination plants and on

the construction of new projects to meet the high water

consumption levels. GE Energy opened a technology

centre in the city of Dammam in the summer of 2009

highlighting its growing commitment to providing new

water solutions at a time when the kingdom is facing

unprecedented demand for reliable sources of water. The

GE Saudi Water & Process Technology Centre, built at a

cost of nearly $10mn, will serve the company’s industrial

customers in Saudi Arabia and the wider region.

159

Saudi Arabia

Sau

di A

rab

ia

Telecoms

The telecom sector witnessed a growth rate of 15%

year-on-year in 2008, from 10% in 2007. Factoring in

slower economic growth in 2009, Shuaa Capital said that

it expected “the telecom sector, led by the mobile and

broadband (fixed and wireless) segments, to deliver high

single digit growth with a possibility to surprise us with

a low double digit growth.” The country’s active mobile

penetration reached approximately 125% in 2008, and

was forecasted to grow toward a 145% active mobile

penetration rate by 2010, the report Saudi Vision 2009

added.

Transport

High levels of investments have been set aside to

upgrade of its whole transport infrastructure, with

seaports, airports and road and rail networks across

the Kingdom all being expanded. The 2009 budget

announced total spending of SR475bn ($126.8bn), with

an allocation to the transport sector of SR19.2bn ($5.1bn)

for new and ongoing projects. A “Saudi Arabia Freight

Transport Report” for the first quarter of 2009 from Busi-

ness Monitor International predicted an average growth

in freight transport of 3.7% a year until 2013. Maritime

transport is expected to grow at 5.8% a year while train

and airfreight are predicted to grow at 4.7% and 4.2%.

In response to increasing demand pressures port infra-

structure is set to be significantly upgraded. Competitive-

ness will certainly be boosted by new projects, like the

King Abdullah Economic City Seaport, expected to cost

$5bn and be able to handle about 20m containers a year.

Other port facilities are also being upgraded with the Red

Sea Gateway Terminal expansion at Jeddah Islamic Port

set to increase capacity of the port by around 45%.

In May 2009, it was announced that the UK’s Foster &

Partners had won an SR142 million contract to design

four stations for the new high-speed Haramain Railway

linking the two holy cities of Makkah and Madinah with

Jeddah. The rail link, initiated by the Saudi Rail Organisa-

tion, is seen as one of the country’s major infrastructure

projects, intended to bolster social and cultural connec-

tions between western cities, as well as improving trans-

port options for pilgrims making their way to the holy

cities. Transport Minister Jabara Al-Seraisry said that

the four stations would be located in Jeddah, Makkah,

Madinah and King Abdullah Economic City in Rabigh and

added that Foster & Partners had long-standing experi-

ence in the field.

Tourism

In recent years, the Kingdom has sought to capitalise

on its potential as a global tourism destination, focusing

primarily on local tourism and regional visitors, but now

increasingly looking towards creating more specialised

packages for foreign visitors.

The Kingdom enjoys some breathtaking natural land-

scapes and a wealth of marine life which is a big

attraction for scuba diving. In addition, important archae-

ological sites are situated at Madain Al Saleh, Jeddah,

Hofuf, Najran, Taif, Takub, Al Jouf and Hail. The Supreme

Commission for Tourism (SCT) oversees the develop-

ment of the tourism industry and tourism is now being

significantly upgraded with public and private sectors

partnering to deliver a national tourism strategy.

160

SO

MOGADISHU

COUNTRY NAME: Somali Democratic Republic



LANGUAGE: Somali (official), Arabic, Italian, English

CURRENCY: 1 Somliland Shiling (SOS) = 100 Cent 1 EUR = 2.221,76 SOS (Nov. 2010)

MAIN CITIES: Mogadishu (capital), Hargeysa, Kismaayo

NATIONAL DAY: 26 July – Independence Day


Covering a land area of 637,657km2, the Repub-lic of Somalia has a long coastline on the Horn of Africa and to the north faces the Arabian Pen-insula, where traditionally it has had important commercial and trading ties. For many years the country has been driven by factional conflicts and the lack of a functioning national administra-tion which have acted as major breaks on inward investment and economic development. As a result few reliable up-to-date statistics are avail-able about the Somali economy.

It can be safely stated that Somalia is one of the poorest

countries in the world. The UNDP’s Human Develop-

ment Index ranked it 161 out of 163 countries back in

2001. Confl ict, war and continuing insecurity have seri-

ously impacted on access to even the basic services

and infrastructure. All this has combined to increase

poverty in the country and made welfare conditions

worse compared to the days before the civil war.

Somalia joined the League of Arab States in 1974. In

1991, the northern region broke away unilaterally to form

the unrecognised Somaliland based around the city of

Hargeisa. A Transitional Federal Government (TFG) was

formed in January 2005 with regional governments in

Somaliland (NW) and Puntland (NE). This transitional

government represents Somalia at the UN, the League

of Arab States and the African Union. A UN brokered

peace agreement was unveiled in Djibouti in the summer

of 2008.

The international community is now taking action to

reverse the stagnation that has been the consequence

of two decades of instability in Somalia. An African

Union Summit urged more support for the Transitional

Federal Government as the legitimate authority in

Somalia. The international community has also been

urged to honour pledges made to support Somalia

during the Brussels Donors’ Conference held in April

2009 where $200 million was pledged for reconstruction

efforts. The UN is calling on the international commu-

nity to invest in building the country’s security institu-

tions and improve the capacity to deliver public services

and employment, which would have a positive impact

on the Somali people. Projects to encourage youth

employment and enhance the livelihoods of ordinary

Somalis should also be a priority.

Economy

Somalia’s economy has been described as stronger

than that of many countries in Africa in terms of gross

domestic product and imports and exports, participants

at a United Nations-backed meeting held in Dubai said.

Despite the crisis that Somalia continues to face, its

government was commended by the UN for having put

in place more transparent and accountable fi nancial

management measures. In a move that should help

generate greater donor confi dence, Somalia contracted

auditing fi rm PricewaterhouseCoopers to assist with

tracking and reporting on the use of public funds and

thus help improve transparency, the UN reported in July

2009.

The UN is initiating a series of projects to help Somalia

move beyond the current emergency and ensure that

its people experience some benefi t from the peace

SOMALIA

161

Somalia

process. Current projects include increasing access

to basic services such as water, health and educa-

tion, improving livelihoods through rapid employment

generation, rehabilitation of key infrastructure and other

rapid-impact recovery programmes.

The economy could be boosted through livestock and

livestock products, agriculture, money transfer, tele-

communications, infrastructure, oil and gas, mining,

transport and even tourism, according to the UN Polit-

ical Office for Somalia (UNPOS).

Sudan recently pledged its support to help rebuild

Somalia’s financial and economic infrastructure as the

country seeks to establish real peace and stability.

Despite the lack of an effective central government,

however, Somalia has maintained a healthy informal

economy, largely based on livestock, money transfer

companies, and a growth in telecommunications. The

extensive Somali community overseas helps sustain an

economy weakened by years of strife and turmoil.

Somalia’s small industrial sector, based on the

processing of agricultural products, has largely been

looted and sold as scrap metal. Somalia’s service

sector also has grown. Telecommunication firms

provide wireless services in most major cities and offer

the lowest international call rates on the continent.

Mogadishu’s main market offers a variety of goods from

food to the newest electronic gadgets. Hotels continue

to operate and are supported with private security.

Somalia’s arrears to the IMF continued to grow. Statis-

tics on Somalia’s GDP, growth, per capita income, and

inflation must be viewed with more than a degree of

scepticism.

The Somali International Financial Centre (SIFC), an

agency created by the transitional government, offers

a tax-free offshore international banking regime. There

are also laws providing for offshore insurance and

e-commerce. The SIFC is committed to strict confiden-

tiality and world class regulatory standards; there is a

modern money-laundering law. The Central Bank of

Somalia was based in Mogadishu.

Remittance services represent a large industry in

Somalia. Somali entrepreneurs overseas who fled

because of the war contribute around $1 billion annu-

ally to the country’s economy. In the absence of a

formal banking sector, money exchange services have

burgeoned, handling between $500 million and $1

billion in remittances annually.

Agriculture

Agriculture is the most important sector, with livestock

normally accounting for about 40% of GDP and some

65% of export earnings. Livestock, hides, fish, char-

coal, and bananas are Somalia’s principal exports,

while sugar, sorghum, corn, qat, and machined goods

are the principal imports.

Livestock has traditionally accounted for about 40% of

GDP and about 65% of export earnings. Nomads and

semi-nomads, who are dependent upon livestock for

their livelihood, make up a large portion of the coun-

try’s population. Sugar, sorghum, maize, and fish are

products for the domestic market. The small industrial

sector, based on the processing of agricultural prod-

ucts, accounts for 10% of the country’s GDP.

Livestock remains the main source of income for the

people of Somalia but exports have periodically been

interrupted by bans imposed by importing countries in

the Gulf region, due to outbreaks of livestock disease.

Camels, sheep and cows destined for Saudi Arabia

and Yemen form the bulk of the country’s agricultural

exports. A partnership between the European Commis-

sion and the UN Food and Agriculture Organization

SO

(FAO) and the World Bank for the provision of support

for Somalia’s agricultural sector led to the preparation

of a longer term livestock strategy as a framework for

further coordinated work in the sector.

After livestock, bananas, grown on plantations along

the Juba and Shebelle rivers, are the main exports.

Over recent years, improved technologies have been

introduced to increase production efficiency. Somalia

began exports of bananas to countries of the European

Union, but the trade has suffered from the protracted

instability.

Other important crops grown in Somalia include sugar

cane, which the country has been seeking to develop

for export. Production of seed cotton is another signifi-

cant crop but the quantity is insufficient for export and

is mostly used in the small domestic textile industry.

Maize and sorghum are produced as subsistence crops

in the southern part of the country. Fishing was mainly

a small-scale subsistence activity until recently, but

nowadays fish products like lobster, shark, tuna and

sardines are caught for export.

Telecoms

Somalia’s public telecommunications system has been

almost completely destroyed or dismantled during the

conflict, but several private sector providers are growing

and Internet services are emerging in greater number.

Telcom, a telecommunications network operator in

Somalia, was the first major privately owned company

providing telecommunications to major cities. The

company is headquartered in Mogadishu, and has repre-

sentative offices in Dubai and the UK. The company

has an estimated 750 employees. Somafone Telecom-

munications Service Company (operating as Somafone)

is Somalia’s leading mobile telephone operator. It was

formed in 2003 as a fully owned subsidiary of Somafone

FZ LLC of Dubai Internet City.

Mineral Resources

Somalia has deposits of gypsum, gold, silver, nickel,

copper, zinc, lead, salt, limestone, uranium and iron

162

163

Somalia

Som

alia

ore. Although most of these resources are small, some

of the world’s largest deposits of gypsum can be found

near Berbera and significant iron ore deposits have been

discovered in the country’s Bur region. The mining sector

is small and contributes less than 0.5% of GDP.

Reconstruction

The rehabilitation of the Somali economy has been

moving ahead intermittently but remains frustrated by

outstanding security issues and establishing a peaceful

environment. Somalia currently lacks functioning finan-

cial institutions which are the foundation of any sound

economy and would normally provide crucial backup for

business initiatives. There are no commercial banks, no

central bank and no credit or savings institutions apart

from remittance companies operating in the country. In

fact, funds in the form of remittances made by Somalis

living abroad constitute the most vitally important means

of financial support for the country. It has been estimated

by UNDP that remittances transferred by Somali compa-

nies abroad amount to between $700mn and $1bn per

annum.

164

SU

KHARTUM

Sudan is the largest and one of the most diverse countries in Africa, a home to deserts, mountain ranges, fertile agricultural lands and rain forests. The country borders the Red Sea and is located between Egypt and Eritrea. Its natural resources are substantial, but its main resources are oil and gas. Other resources include iron ore, copper, chromium ore, zinc, tungsten, mica, silver and gold. Sudan has huge oil reserves, including potentially large undiscovered reserves, which makes it attractive to foreign investors. The coun-try has suffered from protracted internal disputes over many years and been subject to sanctions as a result of unresolved political conflicts in regions like Darfur.

Economy

Despite a weak fi nal quarter in 2008, Sudan’s economic

indicators remained fairly strong during the year, while

infl ation trends mirrored developments in world food

prices. Real GDP growth was estimated at about 7%

in 2008, with non-oil growth of 8.5%—compared with

10 and 7.5%, respectively in 2007, according to an IMF

report issued on 21 July 2009. The buoyant non-oil

growth, driven by the services sector, compensated

for lower oil production. Sudan was hit by the global

crisis, mostly through a sharp decline in oil revenues. In

the fourth quarter of 2008, the sharp drop in oil prices

put signifi cant pressure on public fi nances, leading to

some arrears accumulation. The decline in oil revenues,

coupled with continued weakness in non-oil collections

and fi nancing rigidities, implied a sharp reduction in

Sudan’s overall resources. Annual oil revenues for the

period 2009–12 are projected to be 6 percentage points

of GDP lower than in 2005–08.

The news prompted the IMF to warn of the risks that the

country’s major achievements of the past several years,

in terms of maintaining macroeconomic stability and

strong growth, could be jeopardised. Foreign exchange

reserves fell sharply to less than two weeks of imports.

Real GDP growth is expected to nearly halve in 2009,

while infl ation is projected to decline to single digits.

Total oil production is projected to increase somewhat in

2009, but the non-oil sector is likely to slow down signifi -

cantly owing to the global slowdown and the impact of

domestic demand policies aimed at containing import

pressures in the face of declining foreign exchange

reserves. Both the services and agricultural sectors would

be affected by lower infl ows of foreign direct investment.

Overall real GDP growth is projected at about 4% in 2009

and should pick-up slightly to 5% in 2010. Average infl a-

tion is expected to decline to 9%, refl ecting lower world

food prices and tighter fi nancial policies.

Oil & Gas Sector

Sudan is still one of the most unexplored oil territories in

Africa and the Middle East. The country has estimated oil

reserves of about 900 million barrels and estimated gas

reserves of about 100 billion cubic metres. Most current

production comes from the Melut and Muglad basins. In

2005, the country earned $4.8bn in oil export revenues.

There are ambitious plans to develop the oil and gas

resources. The government in Khartoum aims to

COUNTRY NAME: Republic of Sudan



LANGUAGE: Arabic, English

CURRENCY: 1 Sudanese Pound (SDG) = 100 Qirsh 1 EUR = 3.1 SDG (Nov. 2010)

MAIN CITIES: Khartoum (capital), Omdurman, Atbara, Port-Sudan, El-Obeid, El-Fasher, Juba

NATIONAL DAY: 1 January – Independence Day

TIME ZONE: Standard time is gmt + 2

SUDAN

165

Sudan

increase production to 600,000 b/d by the end of 2007

and to 800,000 b/d in 2008, from about 500,000 b/d in

mid-2007. State oil company Sudan National Petroleum

Corporation (Sudapet) is active in the oil exploration and

production sector, working in partnership with foreign,

largely Asian, companies to raise oil output from an esti-

mated 500,000b/d in 2008 to a forecasted 520,000b/d in

2009.

The acceptance of an international arbitration ruling

issued on 22 July 2009 over the disputed Abyei field was

widely viewed as an encouraging development giving

a boost to peace and reconciliation in the country. The

ruling from the Hague-based Permanent Court of Arbi-

tration (PCA) redrew the boundaries of Sudan’s oil-rich

Abyei region and ceded some productive oilfields to

the north side. Both the National Congress Party (NCP)

and the Sudan People’s Liberation Movement (SPLM)

pledged to respect the international arbitration deci-

sion. The boundary dispute over Abyei had been one

of the most sensitive issues in the 2005 Comprehensive

Peace Agreement in Sudan. The decision was welcomed

by countries internationally, including China, which is a

major trade partner for Sudan; China and Sudan estab-

lished diplomatic ties in 1959 and bilateral trade stood at

$8.2 billion in 2008.

Agriculture

After oil and gas Sudan’s primary resources are in the

agricultural sector which has great potential for develop-

ment to increase productivity. It expanded at the average

rate of 8.5% per annum during the last decade. The Gulf

States and countries such as China have demonstrated an

increased interest in investing in the sector. In June 2009,

a conference was held in Khartoum to explore the possi-

bilities of Sino-Sudanese cooperation and partnership in

the area of agriculture with the aim of developing strategic

partnership between the resources of both countries

including land, water, technical know how and financial

resources.

Although the country is trying to diversify its cash crops,

cotton and gum Arabic remain major agricultural exports.

Grain sorghum is the principal food crop, and wheat is

grown for domestic consumption. Sesame seeds and

peanuts are also cultivated for domestic consumption as

well as increasingly for export. Livestock production has

vast potential, and many animals, particularly camels and

sheep, are exported to other Arab countries. However,

Sudan remains a net importer of food because of problems

of irrigation and transportation which act as constraints to

the development of a more dynamic agricultural economy.

SU

Cash crops grown under irrigation include cotton and

cottonseed, which is of primary importance to the

economy, sesame, sugarcane, peanuts, dates, citrus fruits,

yams, tomatoes, mangoes, coffee, and tobacco. The main

subsistence crops produced in Sudan are sorghum, millet,

wheat, cowpeas, beans, pulses, corn, and barley. Cotton

is the principal export crop and an integral part of the

country’s economy and Sudan is the world’s third largest

producer of sesame after India and China.

Boosting Exports

Sudan’s Minister for Industry, Eng. Al Ahmed Osman,

indicated that the country wants to boost its leather

exports in the coming five years so that their revenues

will exceed $150 million instead of $30mn at present.

Speaking at a meeting of the higher committee for devel-

opment of exports and investment in the industrial sector,

the minister also referred to plans to increase the exports

of ethanol fuel, sugar, medicines and ceramics, Suda-

nese news agency SUNA reported on 10 July 2009.

Financial Sector

Sudan is working with the IMF to strengthen the coun-

try’s financial sector by ensuring that banks comply

with regulations. The Central Bank of Sudan will actively

enforce prudential standards and ensure that all banks

comply with existing regulations. A plan is being

prepared to restructure the Omdurman National Bank

(ONB) in line with recommendations of an independent

audit completed in 2008 with the ultimate objective of

privatising the bank.

Telecoms

Sudatel, the state-controlled telecoms operator and

Sudan’s second-largest mobile phone operator, generated

net profits of $164.4m in 2008.

In February 2009, Lebanon’s Fattouch Investment Group

launched the Vivacell mobile network to become the

fourth mobile operator in Sudan. Kuwaiti and South

African mobile phone giants had already found the

166

167

Sudan

Sud

an

Sudan market a difficult one due to the expense and time

involved in building networks capable of reaching the vast

majority of the population. Fattouch won a licence from

the government of South Sudan. Under the 2005 peace

accord, the south had the right to licence two mobile

phone operators. Vivacell is a relaunch of Network of the

World, a Sudanese-owned company that was set up soon

after the peace accord was signed. The south awarded

its other licence to Gemtel, a Ugandan operator. In addi-

tion, Zain, MTN and the state-controlled third nationwide

operator Sudani are all expanding into the southern parts

of the country.

168

SY

DAMASCUS

As part of Syria’s ambitious attempts to develop a dynamic, liberalised modern economy, it con-tinues to adopt important reforms to open up, diversify its income streams, boost the efficiency of production and attract foreign investors. Dur-ing the past few years, the country has seen the introduction of its first private banks and in March 2009 it marked the opening of the Damascus stock exchange. The global economic down-turn has slowed down but not halted the coun-try’s growth with most forecasts now predicting between 2%-4% growth in 2009, which compares with almost 6% in 2008. The IMF has estimated that real GDP growth will be 3%.

Overview

Agriculture remains one of the most important sectors of

the economy and Syria’s main agricultural produce are

wheat, barley, cotton, lentils, chickpeas, olives, sugar

beets; beef, mutton, poultry, eggs and dairy. The coun-

try’s main industrial activities are in petroleum, textiles,

food processing, beverages, tobacco, phosphate rock

mining, cement, oil seeds processing and car assembly.

The oil industry is becoming less important as the country

moves further ahead with its drive to diversify and open

up to investors.

Offi cial statistics put the country’s total workforce at

over 5.5 million people. An important characteristic of

Syria is its very young population profi le with well above

60% of the total under the age of 25 and as many are

well educated this is regarded as a signifi cant “human

resource” asset. Some 200,000 graduates have to be

absorbed into the Syrian economy each year; many also

choose to become self-employed while others look for

work abroad mainly in neighbouring Arab countries.

Some 26% of the total workforce is employed in the agri-

cultural sector which remains by far the greatest single

employer followed by the industrial sector at nearly 16%;

however, industry is strengthening and expanding at a

steady rate as a result of ongoing economic reforms.

The remaining 58% of the workforce is employed in the

services sector, where areas like fi nance and tourism

have been offering more employment opportunities.

Oil & Gas

The country’s oil reserves are gradually being depleted

and by January 2009 reached 2.5 billion barrels, which

is the equivalent of half Oman’s reserves and only 3% of

Kuwait’s reserves, according to the Oil & Gas Journal.

Syria is making efforts towards oil effi ciency. However,

natural gas production is seen as offering future oppor-

tunities as it seeks to benefi t from its strategic location to

become a transit hub for Egyptian, Iraqi and Iranian gas.

Syria has also started to partner with international energy

companies with a view to becoming a gas exporter,

although at present all the gas it produces is consumed

by the domestic market.

Agriculture

Agriculture saw some improvements in 2009 after the

severe droughts that the country suffered in 2008. As rain-

fall levels picked up early this year, better crop volumes

COUNTRY NAME: Syrian Arab Republic



LANGUAGE: Arabic, English, French widely spoken

CURRENCY: 1 Syrian Pound (SYP) = 100 Piastre 1 EUR = 62.24 SYP (Nov. 2010)

MAIN CITIES: Damascus (capital), Aleppo, Homs, Hama, Latakia

NATIONAL DAY: 17 April – Indepence Day


SYRIA

169

Syria

are expected in the current harvests. Wheat is a stra-

tegic crop whose output last year totalled 2 million tons

but is expected to rise to around 3-4 million tons in the

2009/2010 harvest.

Another strategic crop, cotton, had a slightly better perfor-

mance in 2009. Cotton production is important for the

country’s textile manufacturing sector which is the second

largest export for foreign receipts and accounts for 15% of

total exports.

Pharmaceuticals

The more export-oriented pharmaceuticals sector has

been performing successfully recently with two of the

country’s pharmaceutical companies receiving European

Union certification to enable them to export their prod-

ucts into the EU market, joining four other companies

already supplying these markets.

Meanwhile, in terms of healthcare provision for Syrian

citizens, the private sector is being encouraged to take

a more active role in order to meet rising population

demand and improve standards of care. New investment

legislation is seeking to attract private foreign investors

by enabling private specialist hospital projects.

Tourism

Syria is becoming an increasingly appealing tourist

destination, with European travellers beginning to visit in

higher numbers. The impact of world recession on the

sector’s growth has been negligible with the number of

tourists entering the country in the first half of 2009 up

by 9% on the same period in 2008 to reach 1.98 million,

excluding Syrian expatriates, according to the Ministry

of Tourism. It is thought that middle income Arab tour-

ists, who make up an important portion of the total visitor

numbers to Syria, have been relatively less affected by

the crisis, while western tourists appear to be increas-

ingly interested in visiting the country. The increase in US

and European visitors is also seen as a success for the

energetic advertising campaigns launched by the Tourism

Ministry in recent years.

As the sector continues to expand, one of the biggest

challenges is to train a sufficient number of staff to handle

the influx of visitors. At present, hospitality training in

Syria delivers an estimated 700-800 staff each year, but

an extra 50,000 will be needed if the country is to meet

the forecast expansion of tourism in the next couple of

years.

The country’s hospitality infrastructure is in need of

substantial upgrading and additional hotels and leisure

facilities are required to meet the needs of the influx

of new visitors. Fortunately the sector is continuing to

attract investors and foreign firms, particularly from the

Gulf, are showing increased interest in the investment

opportunities in Syria. For example, the Kuwait invest-

ment company, MAK Group (or Al-Kharafi Group), started

construction work on the $217 million Kiwan tourist

project in downtown Damascus. This complex will include

a five-star hotel with 500 rooms and suites, international

business, entertainment, medical, sporting and shopping

facilities, as well as a conference centre and a park. The

construction work is scheduled to take no more than

three years on a BOT basis.

Furthermore, the Tourism Ministry unveiled 65 new sites

with investment potential for development as tourist

resorts at an estimated total investment valued at $2.9bn.

All the projects are to be offered to investors and devel-

opers on BOT. These projects are expected to attract

more foreign investors.

Telecoms

Another sector offering considerable investment potential

is telecommunications, which is undergoing restructuring.

At the end of 2008, a new law was drafted to establish an

independent regulatory authority for the sector which is

currently dominated by two main firms, Syriatel and MTN.

It will issue licenses, assign spectrum and frequency as it

regulates and opens up the sector to competition.

170

SY

The mobile sector, with a third operator expected to be

launched in the coming months, is seen as most dynamic

with a penetration rate of 36% and an estimated 7.1

million users by the end of 2008. In comparison, fixed

line penetration was about 18% and had 3.8 million

subscribers. Internet use is also expanding at a rapid rate

and recent steps that are likely to enhance its use include

a new law in February 2009 to recognise electronic signa-

tures in business and other electronic dealings.

Outsourcing of ICT services in Syria is seen as a poten-

tially important new sector of the economy. The country

has seen the successes that have been achieved in this

regard in places like India and Egypt. The Gulf States in

particular are viewed as potentially important customers

for outsourcing services such as consultancy, imple-

mentation and customisation and, with new private

sector business encouraged to set up in the context of

market liberalisation, ICT outsourcing is seen as offering

tremendous growth potential for Syria. Some call centre

outsourcing in Syria already takes place, but the size of

this sector remains limited at present.

Banking & Financial Sector

Syria enjoyed continuing expansion of the banking

sector in 2008 and total deposits achieved a growth of

3.6% in the fourth quarter of the year and by 2.5% in

the first quarter of 2009. The country’s banking sector

is well regulated and conservatively managed by the

Central Bank, which has served the sector well in the

face of recent global financial upset. Syrian banks had

little or no investments in toxic assets which inflicted so

much damage elsewhere. The breakdown of deposits

by currency shows that both local currency and foreign

currency grew similarly last year. Foreign currency

deposits continued to account for about 20% of total

deposits and grew by 16.4% in 2008, while local currency

deposits progressed by 15.5% over the same period,

Bank Audi Syria reported in July 2009.

Banks are continuing to enhance their branch networks in

their drive to seize on the lucrative opportunities offered

by Syria’s emerging financial services sector. Total bank

branches rose from 348 at year-end 2007 to 374 at year-

end 2008, according to Central Bank statistics. Private

banks have been responsible for almost all the new

expansion as they sought to offer their clients a broader

range of retails and commercial banking products.

Harsher financial conditions have not prevented new

banking ventures from being concluded. For example,

Fransabank Syria officially launched operations in the

country in spring 2008, becoming the tenth conventional

private bank in the country. In addition, a Syrian-Iranian

commercial bank, Banki, a joint venture between the

Commercial Bank of Syria and Iran’s Bank Saderat

171

Syria

Syria

obtained a preliminary license from the authorities.

Bank of Jordan, Lebanese owned Bank Al Sharq and

the Qatar National Bank (QNB), through an affiliate, all

recently entered the market. QNB-Syria, a private Syrian-

Qatari bank, launched an IPO of 34% of its total equity

with subscription ending on 10 August 10 2009. Other

conventional and Islamic banks from the region are all

preparing to apply for licenses and start operations later

in 2009.

Damascus hosted the 4th conference of Islamic banks

and financial institutions on 1 June under the title “Islamic

Banking, investment opportunities and challenges of

competition” which saw the participation of some 800

central bank governors, directors and chief executives

of Islamic, commercial and investment banks from about

20 Arab and foreign countries. Governor of the Central

Bank of Syria Adib Mayaleh pointed to the importance

of Islamic banking and stressed that “as a supervising

authority, we aim to achieve financial balance and

stability, improving a clean banking sector that works in

accordance with the international standards and prac-

tices,” SANA news reported. He also stated that Islamic

banks had an important role to play to help develop the

banking sector, to assist economic growth and to finance

essential projects in Syria. Foreign banks have recently

been allowed to open a representative office in the

country, a move regarded as another step towards the

further modernisation of the country’s banking sector.

The opening of the Damascus Securities Exchange

(DSE) on 10 March 2009 was a significant step towards

formalising the economy and offers great potential for

growth. The stock exchange is initially to be divided into

two markets, a “regular” market and a “growth” market.

Companies that list will follow transparency rules on

disclosure of information on their performance, which

should encourage banks to increase lending to indi-

viduals and corporations. The DSE is monitored by the

Syrian Commission on Financial Markets and Securities.

172

TN

TUNIS

COUNTRY NAME: Tunisian Republic



LANGUAGE: Arabic (official), French (commerce)

CURRENCY: 1 Tunisian Dinar (TND) = 100 Milim 1 EUR = 1.92 TND (Nov. 2010)

MAIN CITIES: Tunis (capital), Nabeul, Sousse, Sfax, Bizerte, Gabes

NATIONAL DAY: 20 March

TIME ZONE: Tunisia Standard Time is GMT + 1

One of Tunisia’s main attractions for investors is its stable market which has offered a degree of security and certainty for business over many years. The country is widely noted for its social sta-bility and consensus politics, characteristics which no doubt led it to be named as Africa’s “most at peace” country in a recent Global Peace Index. Tunisia has also long been able to offer a modern infrastructure along with supportive business legis-lation and a significant degree of transparency in the decision making processes which benefits the ease of doing business.

The economy has demonstrated resilience in the face of

the global downturn and the

Tunisian banking sector continued to operate relatively

undisturbed because of its minimal exposure to foreign

capital.

Tunisia was ranked as the most competitive business

environment in Africa in a report released during the

recent World Economic Forum (WEF) summit in Cape

Town. The 2009 Africa Competitiveness Report,

produced by the WEF in association with the African

Development Bank and the World Bank, gives the

Tunisian economy a score of 4.6 out of a maximum fi ve

for competitiveness, ranking it the 36th most competitive

economy globally, and the fi fth most competitive in the

Arab world.

The report, which is based both on hard data and

responses to the WEF’s Executive Opinion Survey,

singles out Tunisia’s institutional performance in

particular for praise, noting that the country’s institutions

are “one of its most competitive advantages”, resting

on “fairly transparent and trustworthy relations between

government and civil society”. The country was also

ranked highly in terms of the quality of its infrastructure

(34), its health and primary education (27), higher

education and training (27), goods market effi ciency (30)

and innovation (27).

Trade with Europe

Tunisia enjoys close and mutually benefi cial relations with

the countries of the European Union. More than 75% of

the country’s foreign trade occurs within the markets of

the EU. Tunisia has many attractions for investors and

has achieved important successes in establishing itself

as an outsourcing destination for many European compa-

nies. Its close proximity to the European continent gives

it a special advantage and EU member states are major

trade partners for the country. It takes only 20 hours for

goods to be shipped from a Tunisian port to reach the

main ports of the Mediterranean. One key development in

Tunisia’s drive to enhance its export potential to Europe

and further afi eld is the construction of the Enfi dha port

project which will give the country its fi rst deepwater

docking capabilities. With Enfi dha, Tunisia hopes to

repeat the success that Morocco has achieved with the

Tanger-Med port. In its bid to integrate its economy into

the global market, Tunisia became the fi rst Arab country

to complete the process of entering the EU free trade

zone in January 2008. Tunisia has also announced that it

intends to join six other Mediterranean countries in imple-

menting a full “open-sky” agreement by 2010, a move

that will make the country available to low-cost fl ights

TUNISIA

173

Tunisia

and provide a boost for its tourism industry.

Its policy of exchange rate flexibility was seen as a key

factor in helping the economy to reduce tariffs and

barriers to entry, enabling the country’s textile sector in

particular to compete in European markets without the

need for protective measures. Stable fiscal policy has

also contributed towards a low inflationary environment,

another key requirement for maintaining competitiveness,

especially in the manufacturing sector.

Human Resources

The Tunisian workforce is well educated and the popula-

tion is notable for its large middle class. People in this

social category are estimated now to make up some 80%

of the total population. Tunisia is also a country of home-

owners at more than 80%.

An increasing number of students are choosing to study

for technical, scientific and engineering degrees with

computing, telecommunications, multimedia, nanotech-

nology. Genetic engineering is gaining in popularity.

Meanwhile, a feature of the Tunisian labour market is

the high number of women in the workplace. As a result

of the education policies pursued over many years,

99% of Tunisian girls now complete primary education,

while over 58% of university students are women. A

literacy rate of over 90% has also been achieved for girls

and young women. According to the World Economic

Forum’s (WEF) 2009-2010 “Global Competitiveness

Report”, Tunisia ranks second in the Arab world and first

in Africa for the quality of its educational system, while

coming in 17th worldwide.

These are all real achievements that have significantly

improved the life chances of many hundreds of thou-

sands of Tunisians. This record also means that the

country has a pool of well educated, competent and

adaptable people equipped with the skills needed in a

modern economy. A major task of Tunisia in the medium-

term is to create sufficient job opportunities for its people,

particularly for young university graduates, the IMF has

said.

Tourism

Tourism is a mainstay of the national economy; Tunisia’s

tourism product offers superb beaches, good infrastruc-

ture of thermals, spectacular desert scenery and a wealth

of historical sites dating back nearly 3,000 years to when

the ancient city of Carthage dominated the entire western

Mediterranean. The combination of Islamic and Euro-

pean cultures makes Tunisia a very popular North African

holiday destination for a broad range of visitors. While

Europeans continue to hold the largest market share, in

recent years there have been a rising number of arrivals

TN

from countries that have not traditionally been important

markets for Tunisia; these include Eastern Europeans and

people from neighbouring countries such as Libya.

Apart from catering to the needs of a more diverse

range of visitors, Tunisia is also diversifying its tourism

product by developing niche sectors such as sports and

medical tourism where significant growth opportunities

exist. For example, the country is attracting an average

of 60,000 visitors to take part in golfing holidays each

year. A special study was conducted into the potential for

expanding this market area a couple of years ago. There

are at present 10 golf courses in the country, but with a

planned expansion there is potential for another 20 to be

developed. Investment in this area is highly encouraged.

As far a medical tourism is concerned, Tunisia is

expanding rapidly as a top medical tourism destination. It

is now securely placed on the tourism map for this niche

product and it is widely recognised as offering a large

range of services such as heart, dental, eye and aesthetic

surgery at competitive rates. Medical services in Tunisia

are on average some 40-70% cheaper than in many

European countries. There are many opportunities for

innovation and development of this specific niche area of

the tourism sector.


As part of its economic development strategy, Tunisia

encourages large-scale infrastructure projects and has

been successful in attracting significant investment for

some major high profile projects such as the Tunis Sports

City and the Tunis Financial Harbour. Many of the inves-

tors for these ambitious new developments in the capital

Tunis and around the country have come from the Gulf.

Additional activity in the construction sector is seen with

the financing of some major projects to upgrade the

transport sector with notable activities taking place to

enhance roads and ports.

Tunisia recently inaugurated the international airport

“Enfidha-Zine El Abidine Ben Ali” which is supposed

to become the biggest airport of Tunisia. It will have a

capacity of receiving 5 million passengers and reaching

30 million passengers.

Financial Sector

The Tunisian financial sector has not been directly

affected by the international crisis. The country continues

with its long-term strategy of reinforcing the banking

174

175

Tunisia

Tun

isia

sector, which has led to a decline in the ratio of non-

performing loans to total loans from 17.6% in 2007 to

15.5% in 2008 and an increase in the provisioning ratio

from 53.2% in 2007 to 56.8% in 2008. Tunisia intends

to continue this effort even after reaching the targets of

15% and 70%, respectively. The IMF commented that a

more forward-looking and comprehensive approach to

the prudential indicators could prove beneficial, particu-

larly in the context of the implementation of Basel II.

Fisheries

The fishing industry is among those sectors most likely

to show improved export performance in the interme-

diate to long term, because of growing demand for fish

products and the abundance of exploitable species in

Tunisia’s Mediterranean Sea. Current policies designed

to encourage investment and deregulation of the industry

offer promises for the industry’s expansion, particularly in

value-added products. Tunisia is now a major producer

and exporter of seafood.

Therefore, the fish processing industry has attracted the

attention of foreign investors as well as of local compa-

nies. Given the abundance of fish resources existing in

Tunisia’s waters and the growing world demand for fish

products, there are considerable opportunities both for

new companies to enter this sector and for the expansion

of existing ones, particularly in value-added (processed)

products.

176

AE

ABU DHABI

COUNTRY NAME: United Arab Emirates


POPULATION: 4.9 million (2010 est.)

LANGUAGE: Arabic

CURRENCY: 1 UAE Dirham (AED) = 100 Fils 1 EUR = 4.92 AED (Nov. 2010)

MAIN CITIES: Abu Dhabi (capital), Dubai, Sharjah

NATIONAL DAY: 2 December


In little more than 30 years the UAE has achieved remarkable progress from a group of small neighbouring communities to a prosperous and modern commercial centre whose continually changing skyline is beginning to rival anything in the Middle East. The UAE has a vibrant free economy, a significant proportion of its revenues arising from exports of oil and gas. Successful efforts have been made to diversify, away from dependence on hydrocarbons and a solid industrial base has been created, together with a very strong services sector. The establishment of free zones has been an important feature of this diversification policy and reform of property laws gave a major boost to real estate and tourism sectors.

Despite the global fi nancial crisis resulting in an

inevitable contraction in 2009, the UAE economy

remains robust, shielded by signifi cant overseas

fi nancial assets acquired during the period of booming

oil revenues. Substantial public expenditure, made

possible by its assets, combined with strong

fundamentals and sound fi scal policies, to minimise the

impact of the crisis and receding petrodollar income on

the UAE’s economy. It has speeded up its recovery in

2010. In particular, the UAE decided to maintain high

investment budgets, especially for core long-term

infrastructure projects, in order to stimulate growth and

steer the economy away from recession. The UAE has

obviously not been totally insulated from the

reverberations of the global recession and in this regard

cargo handler DP World revealed that business at its

ports dropped ten per cent in the fi rst half of 2009 as

the shipping industry struggled through the downturn.

Oil & Gas

The UAE is the world’s third largest exporter of crude oil

and, as of February 2009, oil production was 2.223 million

barrels a day. Oil reserves were 97.8 billion barrels, the

sixth largest reserves in the world. Abu Dhabi holds 92.2

billion barrels or 94% of the UAE total. Meanwhile, natural

gas reserves are 6 trillion cubic metres, which is the fi fth

largest in the world, according to offi cial sources.

The UAE is an increasingly attractive place to do business

and, despite the global downturn of 2009, considerable

opportunities continue to emerge in each of the emir-

ates. Clearly Dubai and Abu Dhabi are the big attractions,

but investors are now increasingly looking further afi eld

towards the emerging markets of the smaller emirates

such as Sharjah and Ras Al Khaimah. Visitors are drawn

towards the open, low-tax and robust economy, stable

market, the ease of doing business, the essential back up

provided by fi rst rate infrastructure, the transparent regu-

latory system and the legal protection offered in particular

to intellectual property rights.

Construction

Despite the global slowdown, the UAE continued to be

one of the most active construction markets in the world

with more than 750 active projects in construction and

450 recently completed, according to a report by Dubai-

based research house Proleads Global issued in July

UNITED ARAB EMIRATES

177


2009. Although more than 400 projects with a total value

in excess of $300 billion had been placed on hold or

withdrawn; the report forecasts stability returning to the

sector in 2009 with some recovery in cash flow in 2010.

Considerable building activities are taking place across

the emirates. Abu Dhabi still has a major shortage of resi-

dential units and work on infrastructure projects such as

new roads, the metro and Khalifa Port, as well as airports

and new industrial areas, has proceeded without delay.

Abu Dhabi was considering allowing 100 per cent foreign

ownership of some projects, the chairman of the Depart-

ment of Economic Development stated. “We feel strongly

inclined to grant 100 per cent ownership to foreigners in

new and old industries as well as other projects,” Nasser

Ahmed Al Kuwaiti told Emirates Business on 24 May

2009.

Meanwhile, the number of contractors and consultants

entering Abu Dhabi increased according to a report

issued by the Directorate of Contractors’ Classifica-

tion and Consultants’ Registration at the Department

of Economic Development (DED), which said that the

construction sector in Abu Dhabi witnessed a major

development during the first half of 2009.

The construction sector in Ras Al Khaimah is to be

better regulated under a new law issued by H H Sheikh

Saud bin Saqr Al Qasimi, Crown Prince and Deputy

Ruler of Ras Al Khaimah.. Provisions of law no 1 of 2009

for regulating buildings in RAK will be applicable to all

buildings with the exception of those that come under a

special decree or resolution. The law covers a wide range

of topics dealing with buildings starting from designs,

construction license, architectural standards and speci-

fications, additions, expansions, maintenance and safety

and security systems up to penalties for breaching provi-

sions of the law.

ICT

The UAE compares favourably internationally in terms

of its ICT services recording high rates of usage as the

country’s ICT sector shows continuing rapid growth. The

dynamism in the sector is attributed largely to the intro-

duction of competition, as well as the adoption of interna-

tional best practices and governance.

The UAE ranked first among Arab countries in internet

user rate, international internet bandwidth rates, the

importance of ICT to the government’s vision of the

future, personal computer rates, ICT use and government

efficiency; e-government, government prioritisation of

ICT, laws relating to ICT, and the number of telephone

lines, according to the Global Information Technology

Report 2007 – 2008, released in March 2009 by the World

Economic Forum and based on estimates of the Interna-

tional Telecommunication Union (ITU).

The UAE also ranked second among the Arab countries

in terms of: high-speed monthly broadband subscription,

178

AE

lowest cost of broadband, the availability of government

online services, and secure internet servers. Internation-

ally, the UAE ranked first worldwide on the cost of mobile

telephone call and on residential monthly telephone

subscriptions. In other areas, the UAE ranks worldwide

as follows: fourth on the importance of ICT to govern-

ment vision of the future, sixth on government success

in ICT promotion, seventh on government prioritization

of ICT, ninth on ICT use and government efficiency, 10th

on mobile telephone subscribers rate, 10th on business

telephone connection charge, and 14th on residential

telephone connection charge.

Free Zones

Each of the emirates now has its own free zones,

although the majority are in Dubai. All free zones in

the UAE are governed by the independent Free Zone

Authority (FZA) which is also the agency responsible

for issuing operating licences and assisting companies

with establishing their business. Dubai is the home to a

majority of the free zones, including the famous Jebel

Ali, the Airport Free Zone, Dubai Internet City and Dubai

Healthcare City. More specialist free zones are planned

catering for specific sectors including textile, energy and

design cities.

Setting up business in one of the UAE’s many Free Trade

Zones (FTZs) is widely seen as an attractive option for

foreign investors. The concessions offered to investors

in the free zones have led to their success in attracting

a large number of companies and foreign direct invest-

ment. In turn, this success has had the positive effect of

expanding net non-oil exports.

Tourism

Tourism sector officials in Abu Dhabi reported that the

emirate was becoming an important tourism hub in the

Gulf and Middle East due to its rich tourism varieties

and capability to provide unprecedented entertainment,

culture, artistic, musical, fairs and other competitive

services in the region. In addition, Abu Dhabi said that

it was eyeing a 59% growth in cruise passenger arrivals

in the 2009/2010 season. Forecasts by the Abu Dhabi

Tourism Authority (ADTA) point to some 199,113 arrivals

in the season, which runs from end of November to

beginning of May.

Meanwhile, Sharjah, widely seen as the UAE’s cultural

capital, was holding its position as a leading destination

for cultural, heritage and family tourism worldwide.

179

Un

ited

Ara

b E

mira

tes


Agriculture

The UAE has demonstrated an increased interest in the

development of organic farming in recent years. This is

largely because traditional farming methods are widely

seen as impractical to meet the needs of the growing

population. The first internationally recognised organic

farm in Abu Dhabi was certified to European standards

in 2007 and since then the sector has been growing. The

land under organic cultivation is set to double against the

backdrop of increasing support and encouragement from

UAE public agencies keen to promote the sector. The

total area under organic farming would increase to 3,000

acres as the demand for natural food products is on the

rise, said industry experts. They said the focus on organic

farming had come at a time when the market for organic

and natural food products started picking up in the UAE as

well as in the region. According to global data, the Middle

East is considered to be the fastest growing market for

natural and organic foods. On current estimates, the global

market for these green alternatives to conventional food is

to the tune of $220bn. The main domestically grown crops

in the UAE are dates, tomatoes, melons, cucumbers,

lettuce, camel milk, Akkawi cheese, aubergines and celery.

The UAE imports most of its basic food needs including

sugar, dairy products, meat, rice, tea, coffee, poultry,

wheat flour and fruit.

180

YE

SANAA

COUNTRY NAME: Republic of Yemen



LANGUAGE: Arabic, English

CURRENCY: 1 Yemeni Riyal (YER) = 100 Fils 1 EUR = 290.80 YER (Nov. 2010)

MAIN CITIES: Sanaa (capital), Aden, Hodeida

NATIONAL DAY: 22 May – Republic Day


Although by no means one of the wealthiest countries in the Middle East, Yemen offers some important opportunities that should not be over-looked by investors. Its resources are limited and it needs to meet the challenges posed by a rising population. The country also faces depletion of its oil reserves and its groundwater, but it is develop-ing its gas industry and taking steps to improve the efficiency of its agriculture and irrigation. Challenges also include a generally underdevel-oped infrastructure, but the country has been attracting increased funding from international donors. The country’s main industrial activities are crude oil production and petroleum refin-ing; small-scale production of cotton textiles and leather goods; food processing; handicrafts; small aluminium products; cement and commercial ship repair.

Average GDP growth for 2009-2010 was predicted to

reach 5.1% as the country’s fi rst LNG plant comes on

stream, marking an important new development for the

country’s bid to diversify its sources of income.

In 2006 Yemen began a new economic reform

programme designed to bolster the non-oil sector,

boost diversifi cation and attract foreign investment. As a

result, international donors pledged around $5 billion for

development projects in the country. The IMF had said

that economic reforms had slowed after the 1990s and

urgently need to be reinvigorated. Although a number of

reform initiatives emerged in recent years—including civil

service and public fi nancial management, a major adjust-

ment to fuel subsidies in 2005, a new general sales tax,

an anti-corruption drive, and improvements to the social

safety net—most of which have been only partially imple-

mented and there have been signifi cant delays.

With the country’s oil reserves expected to be depleted

in just over a decade, Yemen is preparing to make the

transition to a non-oil economy. A decline in oil output

and volatility in world oil prices have added a sense of

urgency to the economic reform process. Economic

activities in the non-oil sectors have increased at a

“reasonable rate” according to the IMF, but infl ation has

been a key concern.

Infl ation in Yemen has been extremely volatile in the past

year, but it is expected to fall.

However, Yemen has been relatively insulated from the

fi nancial side of the current world economic crisis and its

banks have had relatively low exposure to private foreign

lending. Portfolio investment is quite limited, given the

absence of a domestic stock market or commercial credit

market. Yemen’s main foreign asset—the Central Bank’s

reserves—are highly liquid and kept predominantly in the

form of deposits in international banks.

Yemen is seeking closer ties with the region and the

world economy. Discussions on accession to the WTO

have been taking place since 2004. Bilateral negotia-

tions on goods and services have been concluded with

China and are ongoing with Australia, Canada, the Euro-

pean Union, Japan, Korea, and the US. The country also

continues to pursue membership in the Gulf Cooperation

Council primarily through the Yemeni-Gulf Technical

Committee. In mid-2008, GCC members tasked the

Secretary General to conduct an integrated study on the

prospects for Yemen’s accession into the bloc.

YEMEN

181

Yemen

Yemen is pursuing efforts to further diversify its economy

and promote alternative sources of growth and employ-

ment generation. In addition to the gas sector, there

has been a focus on strategies to promote the develop-

ment of the country’s tourism and maritime activities, to

capitalise on the coastal location and cultural heritage.

Several other areas of the non-oil economy have been

identified as potential sources of growth: agriculture

(particularly honey), fishing, building stones and leather

products.

To encourage investment, Yemen has undertaken a

number of initiatives to strengthen the investment climate

including the establishment of a one-stop shop for inves-

tors, a new procurement law, and an active anti-corrup-

tion authority; as well as a comprehensive review of

company and labour laws. In recognition of such efforts,

Yemen’s ranking on the World Bank’s Doing Business

report jumped from 113 in 2008 to 98 in 2009. Interna-

tional donor support has been instrumental in helping to

sustain reform efforts.

Oil & Gas

Yemen started to export gas through Yemen Liquefied

Natural Gas (YLNG) in 2009. It also aims to develop the

domestic gas market, in particular gas-to-power. Lique-

fied natural gas (LNG) export revenue and domestic gas

sales are expected to partially offset the decline in crude

oil revenue from currently producing fields. This will

require developing the country’s gas pipeline infrastruc-

ture to facilitate access to the power sector and other

customers. There is significant scope for the participation

of private sector investors in the gas infrastructure devel-

opment work that Yemen needs to undertake.

Electrical Power

Yemen is seeking private investors to develop new power

projects. The Public Electricity Corporation is being

assisted by the International Finance Corporation (IFC)

as it moves ahead with the development of independent

power projects (IPPs). The IFC is engaged in carrying

out a feasibility study for a private power project, it was

reported.

Tourism

Opportunities to develop the country’s tourism industry

are considerable. Yemen has some of the most attractive

locations in the world and could significantly boost visitor

numbers given more effective promotion and improve-

ments in the tourism infrastructure. The capital Sana’a

has a unique character whose old city with its distinc-

tive buildings is listed among the world heritage sites of

UNESCO. Ma’rib is another impressive location where

the Great Ma’rib Dam, an example of early Yemenite

182

YE

civilization, can be found. Meanwhile, Shibam has been

dubbed the Manhattan of the desert. Situated 250 miles

off the coast of Yemen, the island of Socotra is the

largest member of an archipelago of the same name, a

four-island cluster off the Horn of Africa and Gulf of Aden.

Socotra is noted for its lush vegetation and exotic wildlife.

Yemen’s potential as a tourism destination has suffered

because of negative reporting that has damaged the

country’s image abroad. Recently, Yemen’s tourism

authorities have been seeking to change foreign attitudes

and to this end launched tourism promotional campaigns

in European countries.

Infrastructure

A new port at Hadramout is to be built on a 12 million

square metre site to complement Yemen’s existing port

facilities at Aden, Hudeidah and Mukalla. The proposed

$240 million new port will serve trade routes between

Europe, Africa and Asia, as well as other destinations

around the Indian Ocean. As part of plans to increase the

capacities of ports and to operate them in more efficiently,

Yemen has sought partnership with specialist international

companies to establish the port.

Fisheries

Yemen has held talks with the World Bank and the

European Union on implementing fisheries projects

that donors had agreed to fund in the country’s coastal

provinces. The Minister of Fisheries Wealth Mohammed

Shamlan discussed the projects with a mission from the

organisations in June 2009. He praised the efforts of the

Bank and the EU to develop the fisheries sector in the

country and affirmed that the Ministry was working to

overcome any difficulties that deter the implementation of

such projects.

Agriculture

Yemen is seeking to improve the productivity of its agri-

cultural sector with the aim of improving food security.

It is focusing on attracting investors to strengthen the

infrastructure that supports the sector particularly the

development of marketing and the promotion of agricul-

tural exports. The World Bank and international donors

are supporting numerous projects in the country’s agri-

cultural sector.

The agricultural industry in Yemen suffers from serious

183

Yemen

Yem

en

natural threats relating to climate and regular hazards

such as swarms of locusts. These are a significant threat

to farmers in the valleys and central highlands areas and

can lead to serious food crises. A large proportion of the

population remains entirely dependent on agriculture for

their livelihoods.

Education

The World Bank is funding a Technical Education Devel-

opment Project to the tune of $15mn. The project seeks

to improve the performance of vocational training insti-

tutions in the country through the implementation of

advanced training programmes to meet labour market

demands. The Ministry of Education and the World

Bank met in July 2009 and stressed the importance of

reforming the Vocational Training Fund, developing its

capabilities to improve education quality and to meet

labour market’s needs at the local and regional levels.

The project has three components divided into three

phases. The first phase represents planning, moni-

toring and assessment in the ministry and the project’s

management unit; the second phase relates to designing

and delivering new advanced technical programmes; and

the third phase concerns reforming and developing the

Vocation Training Fund by reorganisation and reviewing

regulations.

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