economic focus 2

ECONOMICFOCUS ISSUE2VOL7AUTUMN2012MAGAZINEOFTHEARAB-BRITISHCHAMBEROFCOMMERCE

> REPORTSINENGLISHANDARABIC

> SETTINGUPBUSINESSINQATAR

> LIBYAOPPORTUNITIES

> SOCIALMEDIAASABUSINESSTOOL

> RELOCATINGTOTHEUK

> GCCHEALTHSECTORINNOVATION

> FOCUSINTERVIEW

> CHAMBERACTIVITIES

The Shard

ABCC-EF2.indd 1 10/10/12 13:45:24

Badley Ashton and Associates Limited was established in 1982 as a high quality geoscience consultancy, providing specialist reservoir description and prediction advice to the oil and gas industry worldwide. Thirty years on, our emphasis on quality remains the same today, with a progressive ethos always informed by continuous scientifi c excellence.

Badley Ashtons business in the Middle East and North Africa continues to grow and we are delighted to be a new member of the Arab-British Chamber of Commerce.

Celebrating 30 years in business

Offi ces located in the UK, Abu Dhabi, Muscat and Houston.www.badley-ashton.co.uk

ABCC-EF2.indd 2 10/10/12 13:45:46

ARAB-BRITISHCHAMBEROFCOMMERCE 3

Focus Reports

Setting Up Business in Qatar 4

Social Media as a Business Tool 11

How the GCC Can Lead Innovations in Health Research and Services 16

Relocating to the UK 20

Opportunity Libya 24

Focus Interview: A Lawyer Who Never Looks Back 30

Quarterly Economic Survey 38

Chamber News 48

New Members 58

Arabic Section 65

CONTENTS

4 11

38 52

EconomicFocusisanArab-BritishChamberofCommercepublication.

EditorialTeamAbdeslamEl-IdrissiCliffLawrenceDavidMorganDrYasminHusein

Arab-BritishChamberofCommerce43UpperGrosvenorStreetLondonW1K2NJ

Tel:+44(0)2072354363Fax:+44(0)2072456688

[email protected]

www.abcc.org.uk

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DisclaimerDistinctivePublishingorArab-BritishChamberofCommercecannotbeheldresponsibleforanyinaccuraciesthatmayoccur,individualproductsorservicesadvertisedorlateentries.NopartofthispublicationmaybereproducedorscannedwithoutpriorwrittenpermissionofthepublishersandArab-BritishChamberofCommerce.

ISSN No: ISSN 1751-4339

Badley Ashton and Associates Limited was established in 1982 as a high quality geoscience consultancy, providing specialist reservoir description and prediction advice to the oil and gas industry worldwide. Thirty years on, our emphasis on quality remains the same today, with a progressive ethos always informed by continuous scientific excellence.

Badley Ashtons business in the Middle East and North Africa continues to grow and we are delighted to be a new member of the Arab-British Chamber of Commerce.

Celebrating 30 years in business

Offices located in the UK, Abu Dhabi, Muscat and Houston.www.badley-ashton.co.uk

ABCC-EF2.indd 3 10/10/12 13:46:04

ECONOMICFOCUS

SETTINGUPABUSINESSINQATARByWayneMerrick

AstheUKeconomyentersadoublediprecession,itisnosecretthecountryisfeelingthepinch.Youthunemploymentisatarecordhighofalmostonemillionthreepercenthigherthanduringthesameperiodin2011andthereisableakgrowthoutlookforUKcompanies.Withlittlegrowthprospectsandopportunitiesfordevelopmentathome,UKcompaniesareincreasinglylookingtoexpandabroadintohighgrowthmarkets.

Ascurrentlythefastestgrowingeconomyintheworld,QatarisbecomingatopoverseasdestinationforUKbusinessestosetupshop.AccordingtotheInternationalMonetaryFund,Qatarisnowalsotheworldsrichestnation.Withitspro-businessenvironment,rapidlygrowingeconomyandcloserelationswiththeUK,QatarpresentsespeciallyattractiveopportunitiesforBritishbusinesseswantingtosupplementtheirhomemarkets.

Aftercompletingmajorgasprojects,Qatarhasrecordedconsistentdouble-digitGDPoverthepastdecade.In2010,theGulfcountrysgrowthshotup16.3percentandrealGDPin2011reached14percent,accordingtotheQatarStatisticsAuthority.Withplanstodevelop$140billionworthofmajorprojectsintheleaduptothe2022FIFAWorldCup,QatarpresentsamyriadofinvestmentprospectsforUKcompanieslookingtocapitaliseonlucrativeopportunities.

Qatarseconomicdiversificationandinvestmentinhumancapital,inaccordancewithitsNationalVision2030economicstrategy,isalsohelpingtogenerateopportunitiesforUKbusinessesacrossawiderangeofsectorsincludingconstruction,energyandenvironment,transport,infrastructure,education,training,aswellasfinancialandprofessionalservices.

Sothetimeiscertainlyrighttosetupa

businessinQatar.However,inordertohaveasuccessfulbusinessinthecountry,therearesomeimportantstepsandfactorstobeconsideredbeforeestablishingapropermarketpresence.

Themostimportantdecisionyouwillneedtotakewhenkick-startingyourbusinessplanischoosingthekindoflegalpresenceyouwillsetupinQatar.Inordertoconductbusinessonaregularbasis,foreigninvestorsarerequiredtoestablishalegalcommercialpresenceontheground.Currently,thereareseveraloptionsthatcompaniescanchoosefrom:

l Incorporatingalocalentityunderthe CommercialCompaniesLaw;

l Obtainingalicenseforabranchofficeor traderepresentativeoffice;

l Enteringintoacommercialagency relationship;

l Settingupafree-zoneentitywithinthe QatarScienceandTechnologyPark(QSTP);

l Incorporatingorregisteringwiththe QatarFinancialCentre(QFC).

Itisimportanttonotethatnotalloftheseoptionsallowyoutotradefreely,andownershiprequirementsforQatar-basedentitiesdifferbetweeneachstructure.Itisthereforeparamounttoseekadvicefromcompanyformationspecialiststoensurethatyourbusinessisestablishedcorrectlyfromtheoutset.

UndertheCommercialCompaniesLaw,thereareeighttypesoflegalentitystructuresyoucansetupinQatar:

1.LimitedLiabilityCompany(LLC);

2.Generalpartnership;

3.Simplelimitedpartnership;

4.Limitedpartnershipwithshares;

5.Unincorporatedjointventure;

6.Shareholdingcompanies,alsoknownasjointstockcompanies(publicofprivate);

7.Oneproprietorshipcompany(single-personcompany);

8.Holdingcompany.

LimitedLiabilityCompanyIfyouarelookingtohavefullaccesstotheQatarimarketandenjoythefreedomtoworkonanunlimitedamountofprojects,thenthebestoptionwouldbetoincorporatealimitedliabilitycompany(LLC).Asamoreflexibleandlong-termoption,havinganLLCallowsyoutoremainindependentandcompleteanunlimitednumberofprojects.

UnderanLLCyouarerequiredtoappointalocalpartnerthatholdsaminimumof51percentofthecorporationsshares.Findingtherightlocalpartnerbeitanindividualoracompanyiscriticaltothesuccessofanybusiness.Withyearsofexperience,TheLinksGroup,forexample,canactasalocalcorporatepartner,providingyouwithadviceandinsidetipstobestfityourbusinessneedsfromthebeginning.

LLCsarepopularamongforeigninvestorsastheyrequirearelativelysmallamountofcapitalandcanbeestablishedreasonablyquickly.TheminimumpaidupcapitalrequirementisQR200,000(35,332),whichisratherappealingforanyonelookingtosetupabusiness.TheamountofshareholdersinanLLCmustbetwoatminimumandamaximumof50anotherappealingfeatureforforeigninvestors.YouareallowedtosetupanLLCinalmostallsectorsexceptbanking,insuranceandinvestmentfundactivities.

Single-PersonCompanyAnothertypeofcompanyyoucansetupinQatarisasingle-personcompany.TheQatarigovernmenthasidentifiedprioritysectorsinwhichforeigninvestorsareallowedtoownmorethan49percentandupto100percentofasingle-personcompany.These12prioritysectorsare:agriculture;businessconsulting;culturalprojects;developmentandexploitationofnaturalresources;distributionservices;energyandmining;health;industry;informationtechnology;sportsandleisureservices;technicalservices;andtourism.

LikeanLLC,aone-personbusinessrequiresaminimumstart-upcapitalofQR200,000.Whiletheshareholderofthecapitalmanagesthecompany,theyarealsopermittedtoappointoneormoremanagerstorepresentthecompanyinbusinesstransactions.Asingle-personcompanyisdissolveduponthedeathoftheshareholder,unlessthesharesoftheheirsareheldbyonepersonortheirheirsdecidetocontinuethecompanybyrestructuringitintoanotherkindofentity.

Ascurrentlythefastestgrowingeconomyintheworld,QatarisbecomingatopoverseasdestinationforUKbusinessestosetupshop.

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SimpleLimitedPartnershipThethirdkindoflocalbusinessyoucansetupisasimplelimitedpartnership,whichcanbeformedbytwoormoreQatarinationals.Theseindividualsarepersonallyandequallyresponsibleforthecompanysliabilities.Thisstructuredoesnothaveaminimumcapitalrequirement.

GeneralPartnershipAgeneralpartnershipisalocalentitymadeupoftwotypesofpartners:jointpartnersandtrusteepartners.Thelatterarethosewhocontributetothecompanyscapitalwithoutbeingresponsibleforitsliabilities,excepttothevalueoftheirsharesinthecapital.Trusteepartnersarenotpermittedtobeinvolvedinthemanagementoftheorganisation.Jointpartnersareempoweredtodirecttheaffairsofthebusinessandareheldresponsibleforthecompanysliabilities.SimilartoanLLC,thissetuprequiresaQataripartnerpossessingaminimumof51percentofthecapitalhowever,unlikeanLLC,thereisnocapitalrequirement.

LimitedPartnershipwithSharesThefifthtypeofcompanyundertheCommercialCompaniesLawisalimitedpartnershipwithshares.Thisstructureisformedbytwogroups;jointpartnersmadeupofoneormorepartners,whoarepersonallyliableforanycompanydebts;andtrusteepartnerscomprisingaminimumoffourshareholders,whoseliabilityislimitedtothevalueofsharesheldinthecapital.ThecapitalrequirementishighcomparedtoLLCandsingle-personstructures,cominginatQR1,000,000(177,169).ItisimportanttonotethatjointpartnersmustbeQatarinationals,whereasfortrusteepartners,Qatarinationalsmustholdaminimumshareof51percent.

UnincorporatedJointVentureDissimilartoalimitedpartnershipcompany,anunincorporatedjointventure(JV)doesnotrequireaminimumcapitaltosetup.Twoormorepeoplecanformajointventure,wheretheallocationofliabilitybetweenJVsissetforthinthecompanymemorandum.Sinceajointventureisnotaseparatelegalentity,thirdpartiesonlyhavetherightofactionagainstindividualsinthistypeofentity.Likemostofthestructures,anunincorporatedjointventuremusthavealocalpartnerholdatleast51percentofthecapital.

Joint-StockCompanypublicorprivateAjoint-stockcompany,beitpublicorprivate,musthaveaminimumoffiveshareholders


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wheretheforeigninvestorscannotownmorethan25percentofthecompanybetweenthem.Theminimumcapitalrequirementmustbesufficienttoaccomplishtheorganisationsobjectives;forapublicjoint-stockcompanycapitalcannotbelessthanQR10mandQR2m(349,072)foraprivatejoint-stock.

HoldingCompanyTheeighthtypeofcompanythatcanbesetupundertheCommercialCompaniesLawisaholdingcompany,whichcanbeincorporatedasajoint-stock,LLC,orasingle-personentity.Thisentityfinanciallyandadministrativelycontrolsoneormorecompanies.Astheparentcompany,theholdingcompanyisrequiredtoholdatleast51percentofthesharesineachcompanyunderitsumbrella.Theseentitiescanbejoint-stock,LLCsorone-personcompanies.AholdingcompanystotalcapitalcannotfallbelowQR10,000,000(1,745,364).

UndertheCommercialCompaniesLaw,thereareotheroptionsavailabletoyoutoo.Forexample,ifyouasaforeigninvestorwouldliketoenterthemarketwithalarge-scaleenterprise,youcandosounderaQatariShareholdingCompany(QSC).AQSCisalsousedforinvestmentprojects,insuranceandbankingcompanies,establishedbyaMinisterialResolutionissuedbytheMinisterofBusinessandTrade,betweenatleastfiveshareholders.Thistypeofentityscapitalisdividedintotransferablesharesofequalvalue,wheretheshareholdersarenotliableforthecompanysobligations,exceptwiththeamountofnominalvalueofthesharesforwhichtheysubscribe.

TheCompaniesLawrecognisesthreevariantsofaQSC:apublicQSC,whosesharescanbetradedontheQatarExchange(QE)withaminimumcapitalrequirementofQR10m(1,745,364);privateorclosedQSC,withacapitalofnolessthanQR2m(349,072);andaQSCincorporatedunderArticle68oftheCompaniesLaw.

AnArticle68CompanyisaQSCsetupeitherbytheQatarigovernment,otherpubliccorporationorauthoritiesinwhichthegovernmentholdsatleast51percentofthesharecapitaleitheraloneorwithoneormorelocalorforeignshareholders.ThiskindofentityissubjecttotheprovisionsoftheCommercialCompaniesLaw,andincludesthesameregistrationstepsandrequirementsasaQSCoranLLC.ItiscommonforArticle68companiestobeusedasjointventurevehiclesforlargegovernmentsponsoredprojects,especiallyininfrastructureandtheoilandgassectors.

WhiletheQatarigovernmenthassetspecificownershiprequirementsfortheabovecompanies,theMinistryofBusinessandTradehasrecentlysofteneditspositiononlocalownershipofforeigncompaniesbyidentifyingprioritysectors(explainedabove).AcknowledgingtheimportanceofattainingforeignexpertisetoachieveQatarsNationalVision2030,thegovernmentalsoprovidesother

ECONOMICFOCUS

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ownershipstructureoptionsforforeigninvestorstomaintain100percentoftheirbusiness.

Foreigninvestorscansetupatraderepresentativeoffice,abranchofficeorappointacommercialagencyallofwhicharenotregulatedbytheCompaniesLaw.EstablishingaforeignbranchrequiresapprovalfromtheMinistryofBusinessandTrade.AcompanylookingtoestablishaforeignbranchmustawardacontractwiththeQatarigovernmentoraquasi-governmentalentitythatwouldfacilitatetheperformanceofapublicutilityorservice;however,itdoesnotrequirealocalpartner.ForeignbranchesaresubjecttotheQatariincometaxlaw,unlesstheyreceivespecialexemption.

Similartoaforeignbranch,arepresentativetradeoffice(RTO)isanexceptiontotheinvestmentruleofQatar.TheRTOactsasaplatformtointroduceandpromoteitsparentcompanyinQatar.ItisimportanttonotethatRTOscannotconductfinancialtransactionsrelatedtoitsparentcompanyscommercialactivitiesinQatar,anditsactivitiesarelimitedtomarketingandadministrativefunctions.Inessence,RTOsareshopwindowstosourcebusinessforitsparentcompany.TheremainingoptionsareincorporatingyourbusinessintothefinancialandtechnologyzonestheQatarFinancialCentre(QFC)andtheQatarScienceandTechnologyPark(QSTP).

Currently,allfinancialserviceinstitutions

mustberegisteredandregulatedbytheQFC.WithintheQFCsjurisdiction,foreignentitiesretain100percentownershipoftheirbusinesses.InvestorsareallowedtofullyowntheirbusinessintheQSTPaswelltheonlyotherfreezoneinthecountry.

TaxationUnderthe2009IncomeTaxLawNo.21,Qatarimposesaflatrateof10percentontaxableincometocorporations.QatariandGCCcompaniesareexemptfromthistax;however,foreigninvestorsinQatariLLCsaresubjecttothistaxontheirdistributionofprofits.CompanieswithoutapermanentpresenceinQatararesubjecttoawithholdingtaxoffive

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ECONOMICFOCUS

percentofthegrossamountofroyaltiesandtechnicalfees,orsevenpercentofthegrossamountofinterest,commissions,directorsfees,brokeragefees,attendancefeesandanyotherpaymentsforservicescarriedoutinQatar.Ataxexemptioncanbegrantedforaperiodofuptosixyearsformajorprojects,pendingapprovalfromMinistryofEconomyandFinance.

ProbablythebestnewsforUKandotherexpatriatesworkinginQataristhattheirsalariesarenottaxable.ThisisdefinitelyagreatincentiveforUKnationalstoseekemploymentinQatar.

LabourandImmigrationLawsQatarhasapopulationofjust1.87million,80percentofwhomareexpatriates.Allforeignersmustbesponsoredbytheiremployers,whoareresponsibleforthemaslongastheircontractsarevalid.Theimplementationofthelabourlawisheavilyconnectedwiththeimmigrationlaw.Theonlyemployeesexcludedfromtheapplicationofthelabourlawarethoseemployedbyministries,publicinstitutionsorbodiesthataresubjecttospecificemploymentregulations,suchasemployeesofQatarPetroleumortheQFC.

Inordertoobtainthedesirednumberofemploymentvisas,foreigncompaniesmustapplyforalabourquota.Companiesshoulddisclosethenumberofvisasrequired,nationality,gender,andprofessionaltitleofeachemployeeitplanstosponsor.ItisworthnotingtheQatarigovernmentsplanofQatarisationaninitiativetoincreasetheproportionofnationalsinthepublicandprivatesectors.Thisgivesemploymentpreferencetolocalsoverforeignworkers.

Suchemploymentrestrictionscanbefrustratingforforeigncompanies,especiallytherestrictionsonentryandexitvisasimposedonexpatriates.Thisisdefinitelywhereexperienceandconnectionsofalocalcorporatepartnercanreallyhelpyoutogetthingsdoneefficiently.Completethoroughduediligenceandfindoutwhatrelationshipsyourlocalpartnerhaswithrelevantgovernmententitiestobetterunderstandjusthowmuchtheycanhelpyou.

Ultimately,havingapresenceonthegroundinQatarratherthanworkingfromabroadreapsmanybenefitsforyourbusiness.EstablishingalegalandphysicalpresencesuchasanLLC,willnotonlygiveyouthefreedomtoparticipateinanunlimitedamountofprojects,butitwillgiveyouanadvantageoverinternationalcompaniesbiddingfromabroadforlocalprojects,asyourbusinesswillbeviewedasaserious,reliable,andtrustworthyorganisationthatiscommittedtocontributingtothegrowthoftheQatarimarket.Thisinitselfwillgainyourespectamongyourlocalindustrypeers,andinthelong-term,itwillwinyoumorebusiness.

WayneMerrickistheGeneralManagerinQatarforTheLinksGroupofCompanies

PhotoCreditThephotographsofQatarthataccompanythisarticlearetakenfromthebookQatar: Sand, Sea and SkypublishedbyBrightSkyPress.TheimagesweretakenbyHenryDallal.

Amanwhohasmanagedtopursuetwosuccessfulcareers,Dallalisafinancialadvisorandpropertyconsultantaswellasaprominentphotographer.HeworksasaseniorconsultantwithLondonbasedrealestateinvestmentandprivateequitygroup,EvansRandall,amembercompanyoftheArabBritishChamberofCommerce.

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Standard Chartered Bank is incorporated in England and Wales with limited liability by Royal Charter 1853, Reference number ZC 18. The Principal Office of the Company is situated in England at 1 Aldermanbury Square London EC2V 7SB. Standard Chartered Bank is authorised and regulated by the Financial Services Authority under FSA register number 114276.

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ABCC-EF2.indd 10 10/10/12 13:46:47

Whyshouldcompaniesgetonsocialmedia?JimmyLeach(JL):Lookingatitfromadifferentangle,thequestionisWhathappensifyoudont?EveryoneisgoingonTwitterandmostreputationalcrisesnowwillbeginonTwitter.

Ifyourenotonsocialmedia,youredislocatedfromyourmarkets.Andifyouredislocated,yourenotpartoftheconversation.Andifyourenotpartoftheconversationyoucantinfluenceyourownreputationbecauseyouresubjecttootherpeoplesopinionsofyourcorporation.

MarkFlanagan(MF):Sincetheriseofsocialmediaevenjustoverthelastthreeorfouryearsyoucantjustmakeyourbigcorporateannouncementstwoorthreetimesayearandthendisengage.Becausethedangeristhatotherpeople,competitors,opponentsor,indeed,customerswillfillthevoid.Doyouwantyourcasetobepresented?Ordoyouwanttoleaveavacuum?

JL:Oneofthethingswediscussquiteabitwithourclientsistherelationshipbetweensocialmediaandsearch.Iflotsofpeoplearetalkingaboutyouandyourbrandonsocialnetworks,thataffectssearchandwillhelpmakesurethatyoursiteshowsuponthefrontpageofGoogle.AndifyourenotonthefrontpageofGoogle,yourenowhere.

WhataretherisksofbeingonTwitterandsocialmedia?JL:Doingitbadlyisalwaysarisk.Butitsthesamewithanykindofcommunication.Ifyoumisjudgethetoneifyoumisjudgeyourreactiontoanygivensituation,thenyouvegotaproblem.

Ifyoudemonstrateyourlackofunderstandingofthesetoolsbythewayyouusethemonlyusingthemforbroadcast,notforconversation;tweetingninetimesononeday,nottweetingagainfortwoweeksandthentweetingninetimesagainitobviouslyreflectsbadlyonyouandyourcompany.

SOCIALMEDIAASABUSINESSTOOL


Howshouldbigcompaniesandorganisationsusesocialmedia?TwooftheUKsleadingexpertsintheuseofdigitalcommunicationsdiscussthebestwayforcorporationstoembracetheonlineworld.

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ECONOMICFOCUS

MF:Youvegottoaddvalueinsomeway.TherearepeopleonTwitterwhojustre-tweetortweetlinkstoarticlesanddontdoanythingelseandthatsfinetoanextentifyoureactingasanewsfeedbuttoneveraddanycommentorinsightofyourown,fromacorporatepointofviewthatsnotgoingtowinyouanyfollowers.Andyoullsoonlosethefollowersthatyouhavebuiltup.

Whatdoyouthinkarethebarrierstocompaniesusingsocialmedia?JL:OneoftheearlymistakesthatalotoforganisationsmakeistothinkthatsocialmediaandTwitterinparticularisjustfortheyouth.Infact,Twittersfiguresshowanaverageageof39abouttenyearsolderthanFacebooksusers.

MF:Actually,inmanyoftheadvancedmarkets,Twittercertainlystartedastheprovinceofmediaandthepoliticalelite.Itsonlyinthesecondhalfofitslifethatitbecamemuchmoreubiquitousandmainstream.

JL:Itsimportantthatyoudonttakeaonesizefitsallapproachtosocialmediaandunderstandhoweachchannelisusedindifferentmarkets.WevedonealotofworkresearchinghowTwitterisdeployedinvariouspartsoftheworldandtherearebigdifferencesdependingontechnology,connectivityand

culture.Atthemoment,wereconductingsomeresearchintohowkeyinfluencersacrosstheMiddleEastareengagingwitheachotheronTwitterandwellbepublishingourresultsinthenextfewmonths.

MF:Wealsooftenheartheargument,Imtoobusy.Butsomeofthemostactiveandhighprofilepeopleonsocialnetworksarealsosomeofthebusiestheadsofstate,businesspeople.Itssomethingyoucanbuildnaturallyintoyourday.Theworstthingyoucandoistrytohandlesocialmediainabureaucraticway.Therearelotsofcompanieswhereittakestendaystoclearatweetandthatsclearlynotgoingtowork.

Sohowcanacompanyusesocialmedia?Whatrolescanitfulfil?JL:Alongwithmakingannouncementsandreleasingreports,oneofsocialmediasbestusesistopromoteyourbestpeople.Makeyourorganisationarepositoryofexpertiseratherthanjustacorporation.Thosepeoplethenbecomespokespeoplefortheirindustry,makingthemthego-topeopleforthepress.Butthesepeopleneedtoknowwhattheyredoingandthatswherethingsliketrainingandsocialmediaguidancecomeintoit.

MF:Pressofficeandcustomerservicefunctionsarealsogettingmorepopular

onplatformslikeTwitter.Twitterisfundamentallyaboutconversationssoitlendsitselftothiskindofwork.Formajorcorporatesandbigbrands,Twitterismoreandmoreoftenthechoicefordealingdirectlywithcustomers.Idontthinkitwilleverreplacecallcentresandface-to-facecontactbutitsperfectforquickquestions,basicinformationandlinkingbacktothewebsiteoranFAQpage.

Wheredoesacompanystartifitwantstobuilditspresenceonline?MF:Thefirstplacetostartisalwaysrunningsomesortofaudit.Audityourownchannels,yourownsitesandthoseofcompetitorsbeforeyoustartsettingupTwitteraccountsandFacebookpages.

Manycompaniesareveryfocusedontacticsanddontnecessarilytakethetimetothinkaboutaudiences,whichchannelsareappropriate,whatcontentisappropriateforFacebookversusTwitter,andhowyouorganiseyourselfinternallytorunthesechannels.

Whatcompaniesreallyneedtodoistostepbackandlookatwhattheiroverallbusinessandcommunicationsobjectivesareinthefirstplace.Youneedasolidstrategy.Youneedtoknowwhereyouraudiencesareandwhatyouwanttoachievebeforeyoustart

Mark Flanagan (front), Jimmy Leach (behind) and colleagues.

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out.Ifyoudontdothis,youshouldntbeenteringsocialmedia.

JL:Andoncethechannelsaresetup,youhavetoworktobuildyourfollowers,buildyouraudience.Becauseifyouleaveituntilyouhaveacrisis,youreshoutingintoanechochambernobodyslistening.Youcantsuddenlydecidewhenitsuitsyoutocommunicateyoureconstantlyon.

Howdoyoumakesurethatsocialmediaisusedproperlyoncethechannelsaresetup?MF:Embeddingitintheorganisationisextremelyimportant.Youneedtointegrateitintoyourwiderbusiness,andcertainlyintoallyourcommunications.Theresbeenagoodmoveawayfromseeingsocialmediaasaboltonandhavingtheinterninthecornertweetingforthecompany.Companiesarenowexpectingseniorpeopletobeabletousethesetools.

Theresnosilverbulletforcreatingadigital-friendlyculture.Youhavetoattackitfromdifferentangles.Isthecompanywillingtohavetwo-wayconversationswithitsaudiences?Arethepeopleatthetop,thepeopleatthebottomandeveryoneinbetweenwillingtogetonboard?Youhave

toopenpeopleseyestohowtheworldischanging,thengivethemthetrainingandsupporttheyneedtogetinvolved.Letpeopletryitoutandseewhatworks.

Isanyparticularnetworkbetterforcorporations?MF:ItsstillmainlyaboutTwitterandFacebook.TwitteristhefastestgrowingbutFacebookisstilldominant.TwitterhasbeenoneofthemainoutletsforcorporationsbutorganisationsarestartingtoseethebenefitofbeingonFacebookaswell.

JL:Facebookcanbeastrongcorporatetool.Itsallaboutcontentlinks,photosandvideos.OneofthebiggestmistakesthatcorporationsmakeisthinkingthatTwitterandFacebookarethesame,justrepeatingtheirtweetsontheFacebookpage.Initsmostbasicterms,Twitterisbetterforconversationsandcommentary,andFacebookisbetterforcontent.

Finally,thebigquestion-issocialmediaheretostay?JL:Socialmediaisbasicallyjustareflectionofthefundamentalneedtoconnect.Theneedforhumanbeingstoconnectwithotherhumanbeingsisntgoinganywhere

anytimesoonitsjustaquestionofhowthoseconnectionstakeshape.

OnLinkedIn,itsaboutbusinessconnections.OnFacebook,itmaybemoreaboutfriendshipsandsharingcontent.OnTwitter,itsconversations.Itsaquestionofwhereitsgoingtotakeusasopposedtohowlongitwillbewithus.

MF:Ofcourse,thegenieisoutofthebottleandthequestionforallbusinesspeopleandleadersishowyouutilisesocialmedianotwhethertouseitinthefirstplace.

MarkFlanagan,isaDigitalPartnerwithPortland,astrategiccommunicationsconsultancybasedinLondon.HepreviouslyservedasHeadofStrategicCommunicationsat10DowningStreet.JimmyLeachisaSeniorAdviserwiththecompany.HepreviouslyservedasHeadofDigitalDiplomacyattheForeignCommonwealthOfficewhereheranitsglobal40-language,250-sitewebplatformandwasresponsiblefortheFCOsdistinctivesocialmediapresence,includingagrowingnumberofbloggingMinistersandAmbassadorsaroundtheworld.

Portlandisastrategiccommunicationsconsultancywhichadvisesarangeofcorporate,NGOsandGovernmentclientsaroundtheworldontheirdigitalandsocialmediastrategies.ThecompanyisamemberoftheArabBritishChamberofCommerce.


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ECONOMICFOCUS

OmnisFXisaUKbasedcurrencyexchangespecialist.Weareaproviderofcompetitiveexchangeratesforavarietyofclients,bothprivateandcorporate.Thecompanyobjectiveistoofferclientsanunprecedentedlevelofservicecoupledwithcosteffective,efficienttransactionservices.

WhyOmnisFX?BettercurrencyratesBydealingdirectlyinthemoneymarkets,OmnisFXisabletoachievecurrencyratesunobtainablethroughahighstreetbank.

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HMRevenueandCustomsMoneyLaunderingRegistrationNumber:12293997

CompanyRegistrationNumber:6420928

OmnisCapitalFXLtdisanAppointedRepresentativeofIndependentPortfolioManagersLimitedwhichisauthorisedandregulatedbytheFinancialServicesAuthority.

OmnisCapitalFXLimitedisregisteredwiththeFinancialServicesAuthorityunderthePaymentServicesRegulations2009underregisterreferenceNo.485601fortheprovisionofpaymentservices

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OmnisFXpridesitselfonitsindividuallytailoredadvisoryservice.Onceyourdesignatedbusinessconsultanthasdiscussedandevaluatedyourbusinesssforeignexchangerequirements,theycanregularlyupdateyouwithrelevantmarketnewsandindustryforecasts.

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Spotcontractsareusedbybusinessesrequiringimmediateforeigncurrencyandthemostcompetitiveexchangerate.Businessesthatonlyrequireforeigncurrencyoccasionalwouldbenefitfromthistypeoftrade.

ForwardContractsFixcompetitiveexchangeratestohedgefuturecurrencyrisk.

Aforwardcontractallowsanexchangeratetobefixedfordeliveryupto24months.Thisprotectsthebusinessfromfutureadversecurrencymovements.Forwardcontractsareidealforcompanieswhoagreesalespricesin

advanceandneedtobuyfromsuppliers.Inthiscaseprofitmarginscanbefixedinadvance.

MarketOrdersThesearethetwocommontypesofmarketorderusedincurrencyriskmanagement:

StopLossOrderEnablesabusinesstosetaminimumrateatwhichthedesiredcurrenciesareexchanged.Stoplossordersareusedbybusinessestolockinaworstcaseexchangerate,whilststillbenefitingfromanyfavourablecurrencymovement.Stoporderscanbemonitoredcloselyandamendedasthemarketmoves.

LimitOrderEnablesabusinesstosetatargetexchangerateatwhichpoint,ifreached,currencywillbepurchased.Alimitorderisusedbybusinessesthatregularlytransferfunds,andwishtocapitaliseoncurrencymovements.

CombiningOrdersInordertoeffectivelymanagecurrencyexposure,astoporderisoftencombinedwithalimitordertoproducearangewithanupperandlowercurrencylevel.Thisallowsacompanytomakeitscurrencytransactionsmorepredictableastheexchangerateisguaranteedtobewithintheseparameters.

Optimisationofthisstrategyrequiresflexibility.Theorderlevelsaremonitoredconstantlyandinconjunctionwithclientinputamendedwhennecessary.

OmnisfxhavespentalotoftimeandeffortinsettingupandopeninglocalbankaccountsinDubai.TheseaccountsareforUSD,GBP,EURandAEDandmeansthattheprocessingtimeforsendingandreceivingfundshasbeendecreased.Thisenablesourclientstogetpaymentsinandoutmuchquicker.

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ABCC-EF2.indd 15 10/10/12 13:46:55

ECONOMICFOCUS

Incommonwiththerestoftheworld,healthbudgetshavehadtokeepincreasingjusttokeeppacewithtechnology,newdrugsandpopulationswithhighburdensofchronicdiseasesuchasdiabetes.Traditionally,alargepartoftheirhealthcarebudgetshasbeenspentabroad,includingintheUK,undertheirInternationalPatientCareprogrammes.

Withnon-communicablediseases(NCDs)andchronicillnessalreadyagreaterchallengethaninfectiousdiseases,healthauthoritiesacrosstheGulfregionarelookingatpioneeringandinnovativewaystoimprovethehealthoftheirpopulationsinacost-effectivefashion.

Methodsofdoingsovaryfrommonitoring,managinglong-termconditionsandpreventionthroughtodevelopingthehealthcareprovisionavailableintheGCCincluding,forexample,throughtheestablishmentofhealthcarecitiesinfreezoneswhichnormallyoffer100%foreignownership.

TheestablishmentofhealthcarecitiesrepresentsanopportunityforBritishhealthcarebusinessesinparticulartheycanestablishfacilitiesinahealthcarecityintheGCCandtherebyreplacelostincomeintheUKwithincomegeneratedintheGulf.

NHSentitiesarelookingtoglobalisetheirbusinessandtheGCCrepresentsanimportantandimmediateopportunitytodothisgiventhehistorictradinglinksbetweenBritainandtheArabregion.Thisinvolvesbothresearchanddevelopmentaswellasclinicalservices.However,thetrueparadigmshiftmaycomefromtheGCC.

OneresponsetothechallengeBywayofanexample,letstakeacloserlookattheresponseoftheHealthAuthorityAbuDhabi(HAAD).

AccordingtoHAADstatisticsreportfor2010,theEmiratehashighratesofchronicdiseasesrelatedtolifestylesuchasobesity,diabetesandcardiovasculardiseases.Theselatteraccountedformorethanaquarterofdeathsin2010.

Inresponse,HAADhasdevelopedauniquetotalpopulationscreeningandinterventionprogrammenamedWeqaya.

TheWeqayamodelcombinesindividualscreeningwithindividual,groupandpopulation-levelplanningandaction.ThedeliveryofWeqayainterventionsisthroughtwostreams:thehealthcaresector;andhealthguardianssuchasemployersandschools.Itssuccessreliesonthedeliveryofbothhealthcareandsocietalresponsesinacoordinatedmanner.

Todate,morethan95%oftheadultEmiratipopulationhavebeenscreenedandaPersonalHealthReportisdeliveredtoeachparticipant.Thereportprovidesanevidence-basedassessmentoftheriskofthatindividualsufferingaheartattackorstrokewithinthenexttenyears.Allscreenedindividualswererequiredtoprovidetheirinformedconsentwhentheywerescreened,whichalsoincludedconsenttotheconfidentialuseofdataforresearchandfollowup,includingdiseasemanagementprogrammes.

TheresultsfromtheWeqayascreeningdemonstratedaveryhighburdenofcardiovascularriskfactorsintheAbuDhabiEmiratipopulation.TheyconfirmedinternationaldatasuggestingthattheUAEhastheworldssecondhighestrateofdiabetes,andaddeddetailofhighratesofobesityandpre-diabetes.

Individualsthoughttobeathighriskofcardiovasculardiseasearethenseenbydoctorsasrequired.Participantswillnowbemonitoredonaregularbasistodeterminetheeffectivenessoftheprogrammewhichhelpsdrivecontinuousimprovementandinnovation(forexample,HAADhaspartneredwithAstraZenecaandLillyonpatienteducationandthebetteruseofdrugs).

BahrainsHealthPromotionCouncilandOmansNizwaHealthyLifestyleProject(NHLP)aresimilarlyworkingonprogrammestoaddressNCDs.

Interestingly,theseinitiativesandinparticulartheWeqayawholepopulationscreeningprogrammeanddatadiseasemanagement

programmeopportunitiesintheregionwillcontributetotheglobaldevelopmentofdiseasemanagementandthemethodologiesemployedherewillbeexportedaroundtheworld.TheGCCcanleadthewayininnovationinthemanagementoflong-termconditionsandNCDs.

e-Health/m-HealthAsafurtherdevelopment,aMemorandumofUnderstandingwassignedbyEtisalat,theleadingtelecomsproviderintheUAEandHAAD,setting-outapioneeringcollaborationbetweenthetwoorganisations.

Underthememorandum,EtisalatandHAADwillshareideas,expertiseandknow-howtodesignandimplementtargetedapplicationstodeliversecure,confidential,accurateWeqayapersonalisedhealthdataandinformationtopatientsacrossAbuDhabi.Theywillprovidespecific,individualadviceforlivingahealthierlife.

Thecollaborationwillalsoworktowardsdesigningandimplementingdiseasemanagementprogrammesforthepopulationatrisktoeffectivelyhelppreventcardiovasculardiseases,thenationsnumberonecauseofmorbidityandmortality.

Commentingonthestrategicalliance,MrJamalAlNuaimisaid:Itiscriticalfortelecomleaderstoharnessthebenefitsthatmobiletechnologycanbringtohealthcare,inbothsociologicalandeconomicterms.OurcollaborationwithHAADwillprogressivelyaimtobuildoneachothersskillsinanalyzingandinterpretingtheWeqayadata,andeventuallydesignandimplementaholisticpatientsupportprogramme,whichwillencompassproactivepatientreminders,diseaseinformationsharing,patientawarenessandmedicaleducationsolutionsthroughinnovativem-Healthande-Healthapplications.

AccordingtoHEEngZaidAlSiksek,CEOofHAAD,HAADisendeavouringtodevelopinnovativem-Healthande-Healthsolutionstowardsenablingpreventivecareandproactivediseasemanagement.HAADaimstocreateawell-knitandintegratedPatientCareecosystemthatcombinescriticalelementssuchaspatienteducation,healthcaresupportsystemsandtimelyhealthcaredelivery.

ManyinternationalbodiesarekeentoseehowtheprocessesinAbuDhabicanbeusedas

TheArabWorldgenerallyandtheGCCinparticularspendafortuneeachyearonhealthcare.

HOWTHEGCCCANLEADINNOVATIONSINHEALTHRESEARCHANDSERVICESByJanePittawayandBleddynRees

ABCC-EF2.indd 16 10/10/12 13:46:56


examplesofglobalbestpractice.EmergingandrelativelyunconstrainedhealthmarketssuchasAbuDhabioffertremendousopportunitiesforinnovationthatcanbeadoptedbyolder,oftenmoreconstrainedmarketssuchastheUKandUS.

Whatise-Health/m-Health?TheWorldHealthOrganisationhasadoptedthefollowingbroaddefinitionofe-Health:Theoverarchingtermfortherangeoftoolsbasedoninformationandcommunicationtechnologiesusedtoassistandenhancetheprevention,diagnosis,treatment,monitoringandmanagementofhealthandlifestyle.

m-HealthwasdefinedattheFoundationfortheNationalInstitutesofHealths2010m-HealthSummitasthedeliveryofhealthcareservicesviamobilecommunicationdevices.

Itismuchmorethanusingmobilephonesforthedeliveryofhealthcareservices.Itinvolvesthecombiningofproductsandservicesfromdevicemanufacturers,telecommunicationscompaniesandsoftwareproducerswithsomehealthcareaspecttoprovideincreasedservicesfor:

Healthprofessionals(suchasmobiledevicesfordoctors/nurses,forexample,scannersandmobileaccesstohealthinformationandclinicalsystem);

Healthmanagement(throughdatacollection,tele-assessmentandremotemonitoring);

Preventionandwell-beingeducationandawareness,personalemergencyalarmsandtracking).

So,whoisinterestedine-Health?Thoseinterestedine-Health/m-Healthinclude:

l Healthcare&socialcareproviders

l Healthcare&socialcarecommissioners

l Regulators

l Software/ITbusinesses

l Devicemanufacturers

l Telecommunicationcompanies

Itisstaggeringtothinkthat76%oftheFortune500companiesarenowinvolvedinthehealthindustryinonewayoranother.Themarketfore-Healthishuge.

UnderstandingthelegalissuesWhetheronecallsite-Healthorm-Health,onethingisclearthisnewareaofhealthcareraisesawholehostoflegalissueswhichhavenotpreviouslyneededtobeaddressed.Regulatorstheworldoveraregrapplingwiththechangestheyneedtomaketotheirlegislativeframeworkinordertoprotectpatientsandtheirfamilies.Atthesametime,theymustfacilitateandenablegovernmentsandhealthauthoritiestotaketheradicalstepsneededtoimprovethehealthoftheirpopulations.

Underliningthesignificanceoftheselegalandregulatoryissues,ourHeadofHealthcare,BleddynRees,hasbeenappointedanon-executivedirectorofEuropeslargestconnectedhealthorganisation,EuropeanConnectedHealth(ECH)Alliance.Thisisanewbody,dedicatedtosupportingandpromotingtheadoptionofe-Healthsolutions.

Oneofthealliancesmajorfocusareasissettingup'ecosystems'-largepopulationsofpeopleintowhiche-Healthsolutionscanberolledout.ThefirstoftheseisalreadyunderwayinManchesterandBleddynisoneoffourboardmembershelpingtosetitup.Onceinplaceitwilljoinuphealth,socialcareandhousingservicesproviderstodeliverco-ordinatedandinnovativeservicestoManchesters3.4millionpeople.Thiswillgiveusauniqueinsightintotheissuesandenableustoactivelyparticipateinidentifyingandimplementingthesolutions.

Thelegalissuesthesetechnologicaladvancesraiseinclude:Isane-Health/m-Healthserviceorproductaclinicalservice?Ifsowhattypeoflicencesshouldtheproviderhold?

Doesane-Health/m-Healthserviceorproductconstituteamedicaldevice?Ifso,towhatextentwiththeregulatorybodieswhichareconcernedwiththemanufacture,distributionandlicensingofmedicaldevicesneedtoapproveit?

Whatadditionalprotectionsshouldbeputinplaceinrelationtopatientconsentfordatatransmittedelectronically?

Howisanyrelevantclinicalinformationincorporatedintothepatientsrecords?

Whoownssuchdata/clinicalrecords?Asthisinformationisbecomingincreasinglyvaluable,theanswertothisquestionbecomesincreasinglyimportant.

Thereisacomplexfragmentedregulatorymarketfore-HealthinEurope.TheEuropeanUnionisplanningthisyearmaterialchangestotheDataProtectionDirective(officiallyDirective95/46/EContheprotectionofindividualswithregardtotheprocessingofpersonaldataandonthefreemovementofsuchdata)asitapproachesits20thanniversary.

Accordingly,itishardlysurprisingthatthepositionisevenmoreunclearintheGCCwhichisstillplayingcatchupondataprotectiongenerally.

However,insomeways,thisgivestheGCCtheopportunitytoleapfrogEuropeandputitselffirmlyintotheleadgloballyintheregulationofe-Health/m-Health.Thatwilltakedeterminedandvisionaryleadershipinthehealthcaresector.HEDrTawfiqAlKhoja,DirectorGeneraloftheCouncilofGCCHealthMinisters,haspreviouslyemphasisedthehomogeneityoftheGCCstatesandrecommendedaunifiedapproachtoaddressthechallengesofthefuture.

OliverHarrison,DirectorofPublicHealthandPolicyatHAAD,sumsitup,Asthechallengesofglobalhealthevolvefromacutetochronic,andfrominfectioustobehaviour-relateddiseases,itiscriticalthathealthcarechanges,too.

Theopportunitiestodayareunparalleled.ITandmobiledevicesarechangingthewaywelive,socialise,makemoney,andeducateourselves.Datasystemshavetheabilitytotransformhealthcare.Yes,therearechallengesaroundethics,dataownership,andcontrols.Andyes,therearetechnicalchallenges,too.Webelievethatthechallengescanbemet,andthattheopportunitiesforimprovinghealth,andforhealthcareinnovationcompelustofacethesechallengeshead-on.

Theemerginghealthchallengesareglobal,anditmaywellbethatemergingmarketscanleadthewayinimplementinganewkindofhealthcare,bringingbenefitstoall.AbuDhabiisactivelyseekingpartnershipstorealisethesebenefits.

Theproofofthepuddingisintheeating.WellhavetowaitandseeiftheGCCrisestothisparticularandverymodernchallenge.

JanePittawayismanagingpartner,Wragge&CoLegalConsultantsLLCintheUAEandBleddynReesisapartnerandheadofhealthcare,Wragge&CoLLPintheUK.

Thisarticlemaycontaininformationofgeneralinterestaboutcurrentlegalissues,butdoesnotconstitutelegaladvice.ForfurtherinformationcontactKathrynHobbs,headofcorporatecommunications,Wragge&CoLLP:www.wragge.com

ABCC-EF2.indd 17 10/10/12 13:46:56

ABCC-EF2.indd 18 10/10/12 13:47:01

ARABCHAMBEROFCOMMERCE 19

Inthisarticle,weexaminetheincentivesavailabletoforeigninvestorsinboththeSaudipublicandprivatesectors,aswellasthedifferenttypesofSaudiinvestmentvehiclesavailable.PleasenotethatthisdescribescurrentprocessesfordoingbusinessinSaudiArabia.TheKingdomiscurrentlyinthemidstofrevisingitscorporateandcommerciallaws,sotheremaybeanumberofchangesinthefuture.

I.IncentivesIncentivesforforeigninvestorsareavailablefromboththeSaudipublicandprivatesectors.

A.PublicSectorTheSaudiArabianForeignInvestmentLawprovidesthataprojectlicensedundertheForeignInvestmentLawshallenjoyallthebenefits,incentives,andguaranteesenjoyedbyanationalprojectaccordingtoregulationsanddirectives.Thesebenefits,incentives,andguaranteesinclude:

(1)IncentivesundertheNationalIndustriesLaw,whichprovidesthatindustrialprojectsinSaudiArabiamayimportmachinery,tools,equipment,andsparepartsfreefromcustomsduties.Semi-manufacturedmaterials,rawmaterials,andpackagingmaterialsmayalsobeimportedduty-freebyindustrialprojects,butonlytotheextentthatsuchmaterialsarenotavailableinSaudiArabia;

(2)Theabilitytoownthepropertyrequiredfortheinvestmentprojectandtosponsoritsemployees,althoughsuchabilityissubjecttocertainconditions,includingaprohibitionagainstnon-SaudisowningpropertyinthecitiesofMeccaorMedinah;

(3)ThebenefitsofSaudiArabiasdoubletaxationtreaties;

(4)Prohibitionsagainsttheconfiscationofaninvestmentprojectwithoutdueprocess;

(5)Unhinderedrepatriationofprofits;

(6)Unhinderedtransferofinterestintheprojectcompany;

(7)Theexemptionofexportgoodsfromstoragefeesfor10days;

(8)TherighttoapplyforloansfromtheSaudiIndustrialDevelopmentFund(SIDF),afundingagencyestablishedtoprovidemedium-termandlong-termsoftloansatmodestfeessubstantiallylessthanthoseassociatedwithcommercialloansforprivateindustrialprojectsinordertohelpdevelopandenhanceSaudiArabiasindustrialbase.SIDFwillprovideupto50%ofaprojectscapitalexpenditurecost,includingtheinitialworkingcapitalandpre-operatingexpenses;and

(9)Theabilitytocarrylossesforwardfortaxpurposes.

B.PrivateSectorForeignbusinesseswinninglargegovernmentprocurementcontractsareoftenrequiredtoenterintoEconomicOffsetAgreementswherebytheycommittoinvestanamountequaltoadefinedproportionofthevalueoftheprocurementcontracttoestablishinnovativeindustrialandserviceprojectsinSaudiArabiaincollaborationwithSaudiprivatesectorcompanies.

II.AvailableInvestmentVehiclesTherearesixtypesofSaudiinvestmentvehiclesthroughwhichforeigninvestorsmayconductbusinessinSaudiArabia:

(a)aSaudibranchofaforeignbusiness(aBranch);

(b)anestablishment;

(c)ajointstockcompany,publicorprivate(aJSC);

(d)alimitedliabilitycompany(anLLC);

(e)aprofessionalcompany;and

(f)atechnicalandscientificoffice(aTSO).

Notalltypesofinvestmentvehiclesare

availableinallcircumstances;certaincommercialactivitiescanonlybeundertakenbycertaininvestmentvehicles.

Inthenextissue,wewilllookinmoredetailatthesedifferenttypesofSaudiinvestmentvehiclescurrentlyavailable.

Crowell&MoringhasbeenworkingintheMiddleEast,specificallySaudiArabia,formanyyears.WehavemorethanadozenlawyerslocatedinCairoandRiyadh.InSaudiArabia,weoperateincollaborationwithAl-Enizy&Associates,oneoftheleadinglocallawfirms.ThroughourassociationwithAl-Enizy,weunderstandboththelegalandculturalissuesassociatedwithbusinessventuresinSaudiArabia.

ThisisthesecondinaseriesofarticleslookingatthelegalandculturalissuesassociatedwithoperatingacommercialventureinSaudiArabia.

DOINGBUSINESSINSAUDIARABIABYMORRISDEFEO,HEADOFCROWELL&MORINGSMENAPRACTICE

ABCC-EF2.indd 19 10/10/12 13:47:03

ECONOMICFOCUS

GreatBritainhasbeenverymuchonthemapin2012withthecelebrationoftheQueensDiamondJubileeandtheOlympics.YetitisnotjustexcitingeventslikethesethatareattractingpeoplefromtheArabStatesintotheUK.GreatertradelinksandtheappealofhighqualityuniversitytrainingarestrongincentivestorelocatetotheUK.Atthepresenttimeitisestimatedthatthereareover500,000peopleintheUKwhoidentifythemselvesasBritish-Arabandmorecontinuetoarrivetoseekoutopportunities.

Theprospectofrelocatingtoanewcountrycanarouseahostofdifferingemotions;excitementaboutdiscoveringanewland;fearofhowyoumightcope;sadnessatleavinglovedonesbehind;orguiltabouthowthemovemightimpactfamiliesandfriends.Youmayexperiencesomeofthesefeelingsorallofthemdependingonwhatmoodyouareinonacertainday.Personalcircumstancescanvarywidelywhenmovingabroad.Youmightbemovingonyourown,withaspouseorafamily,orhavetheaddeddimensionofprovingyourselfinabusinessoracademicendeavour.Ontopofthattherearethechallengesofspeakinganotherlanguage,experiencingavastlydifferentclimateandculture.

Althoughinternationalrelocationcanbeanenrichingandrewardingexperience,thereisstrongevidencethatitcanalsobeverychallengingpsychologically.Uprootingoneselffromallthatisfamiliarandleavingbehindanestablishedreputationandstatuscanresultinvulnerablefeelingsandtheneedtorebuildonesidentity.Insomecasesthiscanleadtoanxiety,stressanddepressionaspeoplefeelisolatedandstruggletocope.Fortunatelythereissupportavailable.CiC,anEmployeeAssistanceProgramme(EAP)

provider,hasrespondedtosomeoftheuniquechallengesthattheArabcommunityfacesintheUKbysettingupanArabicCounsellingandSupportService.LikemanyEAPs,CiCoffersservicestohelpmitigatethepersonalissuesthatinterferewithourabilitytoworkorcarryoutourdailyliveseffectively.WhenmembersoftheArabiccommunitycontactCiCsArabicCounsellingandSupportServicefreephonenumbertheycanbeconnectedwithafullyaccreditedArabicspeakingcounsellorwithin24hours.Thisallowsthemtoaccessimmediatesupportonthephoneor,whereappropriate,structuredtelephoneorface-to-facecounselling.Counsellingprovidesasupportiveenvironmentinwhichtoexploreunresolvedemotionaldifficultiesthatmaybeaffectingyourcapacitytomaintainfulfillingrelationshipsandenjoylife.

WhathappensonthejourneyAccordingtointerculturalexpertsBarbaraSchaettiandDavePollackanindividualpassesthroughfivestageswhenintransitionfromoneplacetoanother.Knowingwhattheyareandwhattoexpectcanhelpyoutobemoreacceptingwhenyouencounterthem.Whatfollowsisanoverviewofthesefivestages,whatyoumightexperienceandsomesuggestionsforhowtocope.

InvolvementDuringtheinvolvementstagewefeelembeddedwithinourcommunityandenjoyanestablishedreputationandsocialposition.Wederiveasenseofsecurityfromthethingsthatseemfamiliarinourlife:routines,people,customs,weatherandmore.Duringthisperiod,the

rulesofoursocietyanditscultureandwhatisexpectedofusareunderstood.Thisstageisbarelyrecognisableduetoitsfamiliarity.Thefeelingsofinvolvementincreasewithtimespentinasinglegeographicallocation.

LeavingAswepreparetoleaveweturnourfocusfromthepresenttothefuture,wonderingwhatlifewillbelikeabroad.Friendsandorfamilymaybemoreattentive,withgatheringsandfarewellstakingplace.Webecomeconsciouslyawarethatlifeandeventswillcontinueafterourdepartureandmayfeelexcludedfromotherpeoplesplans.Itistemptingtowithdrawtoavoidpainfulanduncomfortablefeelingsbuttakingthetimetosaygoodbyeandacknowledgetheimportanceofsignificantrelationshipswilloffersomeclosure,freeingyouuppsychologicallytomakeanewbeginning.

Taskslikepacking,findingpropertyoverseasandchoosingschoolscanfeeloverwhelming.Somepeopleliketochooseparticularpersonalbelongingstotakewiththemtohelpthemtofeelathomewhileothersprefertobeginwithacleanslateandoffloadasmuchastheycan.Thereisnorightapproach.Tohelpalleviatetheoverwhelmingfeelings(ifyoucan)makeuseofprofessionalpackingcompaniesandrelocationconsultants.Youmaybeabletoaccessthesethroughyourwork.

Howthemoveiscommunicatedcanpositivelyornegativelyinfluenceyourexperience.Ifyouareplanningonmovingwithapartnerorfamilygivethemnoticeofwhenitwillhappenasearlyaspossible.Allowotherstoventtheirfeelingsandbeopenaboutanyworriesorconcerns.Askingthemtomoveawayfromallthatisfamiliarwillinevitablyraiseanxietiesandemotionssuchasanger,fearorsadness.Acknowledgetheirfeelings.Itcanbehelpfultoremindthemofothertimeswhentheyhavesuccessfullymadetransitionstogivethemtheconfidencethattheywillcope.

Childrenandteenagersoftenstrugglewiththelackofcontroltheyhaveoverthesituationandwhilethedecisiontomovemightnotbetheirstomaketheymayappreciatebeinginvolvedinotherways.Ifthereisanyflexibilityoverthetimingofthemoveyoucanfactorinimportanteventssuchasbirthdayparties,sportscompetitionsorschoolexams.

TransitionUponarrivalinanewdestinationthewonderofdiscoveryisusuallyaccompaniedbyfeelingsofvulnerability.Familiarandsimpleroutinesnowrequirethoughtandplanning.Everydaythingslikebuyingabusticketordoingthehouseholdshoppingcancausefrustrationandanxietyastheynowrequirecarefulattention.Ourestablishedreputationneedstoberebuilt.Itisverycommontoexperiencelowself-esteemandstressasyoutrytoworkoutthenewrules.Allofourpersonalresourcesarechannelledintosimplesurvivalandthereis

RELOCATINGTOTHEUK

Movingoverseastoanothercountrycanbeadauntingprospect,butfortunatelythereisanincreasingpoolofknowledgeandresourcesavailabletomaketherelocationalittleeasier.Thisarticleexploressomeofthechallengespeoplemightfaceandofferssomebasicadvicetoassist.

ABCC-EF2.indd 20 10/10/12 13:47:04


littleremainingforhigherlevelthinking.Minorillnessesandtirednessaretobeexpectedaswefindourselvesinaprolongedstateofhighalert.Thistimecanbeparticularlydifficultforthepartnersofthosewhohaverelocatedforwork,astheyfigureouthowtointegrateintoanewcommunity,especiallyiftheyhavegivenuptheirowncareers.Thoseworkinginbusinessorstudyingcanbenefitfromthestructureofwork,colleaguesandhavingasenseofpurpose.Forotherswhoareathomeitcanrequiremoreefforttomeetnewpeopleandfindasatisfyingroutineandthereisariskoffeelingmoreisolated.Evensmallstepslikegettingtoknowlocalshopownersorjoiningafitnessclasscanhelpyoutofeelmoreintegrated.Mostgymsandleisurecentresofferwomenonlysessions.

Youmayexperiencecountryshock.InterculturalauthorCraigStortiwarnsusnottounderestimatehowtoughitcanbemovingtoextremelydifferentclimates.Britainisknownforitschangeableweatherandcool,cloudyandrainydaysarecommon.Limiteddaylighthoursinwintercanhaveanimpactonhowweliveandthedarkereveningsofwintercanmakeittemptingtostayindoors.Allofthesearethingsthatyoucangetusedtobutittakestime.

Wecanbecomesofocussedonourownexperiencethatitiseasytomisshowothersaregettingon,suchaspartnersandchildren.Ifyouaremovingwithothersremembertolistenandsupporteachother.Partnersandfamiliescanbetheonefamiliarthinginanunfamiliarsettingandahugesenseofcomfort.Ifyouareonyourownensurethatyoustayconnectedwithlovedonesathomeandtakesupportfromthem.

EnteringAftertheinitialacclimatisationweconsciouslyattempttoadjusttoournewculture,formnewrelationshipsandlearnsocialexpectations.Thisremainsasensitivetime,withhighswhenyoumakeheadwayandlowswhenitfeelslikeyouhavegotitwrong.Itisnotunusualtoidealisehome.Makingnewfriends,joininggroupsanddoingcoursesarejustsomeofthewaysthatwecanconsciouslybegintobuildasatisfyinglifeandfeelpartofthewidercommunity.

Re-involvementAfteraperiodoftimeinanewlocationthingsstarttofeelfamiliarandweregainasenseofpermanence.Thereisnosettimeforhowlongthistakesalthoughmanypeoplewhohavemovedabroadsaythatitcantakeuptoayearortwobeforereallyfeelingathomeagain.

MakinginternationalrelocationworkforyouRememberthatyouhavedealtwithsimilarchallengesbeforeandovercomethem,perhapsnotallatonceandinaforeignland,butyoudohavetheresourcestocomethrough.

TrytogetalongwiththeBritishcommunity.Thereisevidencetosuggestthatsuccessfulrelocationsdependonhowwellweintegratewiththelocalpeople.

Expectmisunderstandingstohappen.Dontbetoohardonyourselfwhentheydoandlearnfromthem.

Useanyavailablesupport.Manyorganisationshaveaccesstorelocationteamsandcangiveadviceonremovalcompanies,propertyexpertsandothers.Friendsandfamilycanbehelpfultoo.

Askforhelpifyouarestruggling.Sometimeswhenthingsfeeldifficultweneedtoleanonothersforsupport.TakeadvantageoftheArabicCounsellingSupportServiceortalktofriendsorfamily.Signsofstress,anxietyordepressionare:

l Poorconcentration

l Sleepdisruption

l Inabilitytoswitchoff

l Unabletofeelenjoyment

l Irritability,tearfulness,feelinglikeyou cantcope

l Chestpains,palpitationsorpanicattacks

l Changeinappetite

l Increasedusageofalcoholorother substances

IfpossiblevisittheUKinadvanceofyourrelocationtoresearchpropertysothatyouknowwhereyouwillbelivingwhenyouarrive.

Makeyourhouseorflatfeellikehome.Manypeoplefindgreatcomfortinhavingaplacewheretheyfeelsecureandcomfortable,especiallyiftheworldoutsidefeelsconfusingandunsettling.Itisaplacewhereyourrootscanbegintogrowagain.

Packanyimportantdocumentsinyourcarryonluggagesoyouhavethemavailableassoonasyouarrive.Shipmentscanbedelayedandfindingafewdocumentsamongapileofboxescanbefrustratingandtimeconsuming.

Researchyournewdestinationbeforeyouleave.Thereismuchthatyoucanfindoutonline.

TrytolearnEnglish,eveniftheyspeakArabicinyourofficeortheex-patcommunity.Youwillfeelempoweredtocopebetterandwillbeabletoplayamoreactiveroleinthecommunity.

FindalocalArabicex-patcommunity,therearemanyacrosstheUK.

Talktootherswhohaverelocatedandfindoutwhathelpedthem.

CONTACTSFormoreinformationonCiCsArabicCounsellingandSupportServicepleasecontactJavierParedesatCiC.

Tel: 0207 938 0923

Email: [email protected]

www.cic-eap.co.uk

ArabicCounsellingandSupportServiceFreephoneNumber:0800 781 7935

ABCC-EF2.indd 21 10/10/12 13:47:05

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Inthecurrenteconomicclimatemanycompaniesarelookingbeyondtheirtraditionalmarketstooperateinagreatervarietyofcountries,manyoftheminhighriskareas.Therefore,itisadvisableforcompaniestoactmorecautiouslybeforeenteringanynewmarketsandformingnewbusinessrelationshipsbyconductingappropriateriskassessmentsandduediligence.Thisapproachallowsacompanytoaccuratelyassessanyfuturebusinessrelationshipsandidentifyanypotentialrisksthatcouldbedamagingbothtoreputationaswellasfinancially.

PageGrouphasmorethan20yearsexperienceingatheringinformationandprovidingenhancedduediligenceandintelligenceforclientsinsectorssuchasBankingandFinance,OilandGas,Pharmaceutical,Energy,RealEstateandRetail.Byusingspecialistcommercialdatabases,opensourcesandselectedindustryandlocalcontacts,informationcanbegatheredtoprofileanindividualorcompanytoidentifyanyadverseinformationsuchaspreviousfinancialirregularitiesorunknownassociations.Inadditionariskassessmentcanhelpidentifythepolitical,financialandphysicalriskstoacompanyanditsstaffbeforeitentersacountryforthefirsttime.

WehaveanestablishedpresenceinBeirut,DubaiandLondonaswellasoperatinginotherinternationallocationsinEurope,AfricaandAsia.HavingbeenintheMiddleEastforthelastsixyears,wehaveoperatedinmarketssuchasLibya,Yemen,Egypt,SaudiArabia,UAE,Kuwait,Jordan,IraqandLebanon.Withgreatchangestakingplaceinanumberofcountriesand

ongoingconflictinSyriaandYemen,PageGroupcanhelpreducetheriskofconductingbusinessinthesevolatilemarkets,byproducingreliableinformation,conductingduediligenceandprovidingappropriatesecurity.

Itmakesgoodbusinesssensetoconductenquiriesonaninternationalbasistoverifythebackgroundofindividuals;particularlyprincipalsofcompanies,jointventurepartners,seniorhiresandinvestors,aswellasverifycompanyactivities,relatedshareholdings,subsidiariesandmarketreputation.ItisparticularlyimportanttoestablishwhethertargetedcompaniesandindividualshavelinkstoPoliticallyExposedPersons(PEPs)orahistoryofanycriminalassociationsorrelatedcivilcourtactions.Enquiriesalsoexaminelikelysourcesofwealth,verify(potentiallyconflicting)businessinterestsanddetermineundisclosedbeneficialshareholdingsandassets.

Todemonstrateanappropriatelevelofcareandsafetyforstaff,itiswisetoconsiderprovidingphysicalandpersonalsecuritytocompanyexecutivesandotherstaffwhotraveltohighrisklocations.PageGroupalsoprovidesthistohighprofileanddiplomaticpersonnelanddelegations,tohelpensuretheirsafetyandminimizeanyphysicalrisk.Thiscanbeachievedbydeployingexperienced,lowprofilecloseprotectiontrainedoperativeswithlocalknowledgewhoaresensitivetocommercialenvironments.PageGrouprecentassignmentshaveincludedassistingwiththeevacuationofforeignersfromLibyawhentheconflictfirststarted;providingprotectiontosenior

executivestravellingtoWestBankandGazaandpreparationofevacuationplansforcompaniesinLebanon.PageGroupisnowassistinginternationalfirmstore-enterLibyaandnotonlyprovidingsecuritybutalsoduediligenceonpotentialpartnersparticularlytochecktheyarenotonanygovernmentwatchlistsexcludingthemfrombiddingfornewcontracts.

Intheeventaclientsbusinessrelationshipgoeswrong,PageGroupalsoassistslawyersandcompaniestorecoverassets.Thismightincludeexaminingcomplexownershipstructures,determiningultimatebeneficialownershipofassetsandestablishingfinancialandcorporatelinksbetweenparties.Thishelpstoprovidevaluableinformationtonegotiateprecourtsettlementsorprovidelitigationsupport.

HOWTOASSESSANDMANAGEYOURRISKSTOAVOIDCOSTLYMISTAKES

Email: [email protected]

Phone: + 44 (0)20 7930 9200 (London)

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ABCC-EF2.indd 23 10/10/12 13:47:13

ECONOMICFOCUS

TheemergingopportunitieshavebeendesignatedasHighValueOpportunities(HVO)byUKTradeandInvestment(UKTI).

TheoverwhelmingcharacteristicsofLibyaasanewstatewithmoderndemocraticambitions,enormousinfrastructureneeds,historicaltieswiththeUK,hugecapitalreserves,andalargequantityofunpumpedhighqualityoil(andprobablygas)reserves,

combinetoreaffirmjustwhatasignificantopportunitythemarketistoUKcompanieswithseriousambitions.TheLibyanelectionsheldinJune2012weretoelectabodyresponsiblefordraftinganewconstitution.Thiswillpreparethewayforpopularelectionsplannedfor2013whenanewgovernmentwillbeelected.

Whatfollowsisanoverviewofopportunities

forecastinsevenprioritysectors:

l Oil,GasandPower

l Healthcare

l EducationandSkills

l Technology(ICT)

l CivilSecurity

l BusinessandFinancialServices

l Infrastructure.

Inrecentmonths,trademissionshavetakenplaceaspartofUKTI'sexportpromotionworkinLibyaforalltheseprioritysectors,apartfromBusinessandFinancialServices,whichisforthcomingatthetimeofwriting.SuchactivitieshavecomprisedbothtakingUKcompaniesouttomarket,andbringingLibyanofficialstotheUK.TheUKTICommercialSectioninLibyahasgrowninsizewithanumberofUKbasedandlocallyengagedofficersinplace,eachwithspecificsectoralresponsibilities.Simultaneously,UKTIinLondonhasorganisedaseriesofconferencesandeventsandprovidedlogisticalsupporttothetrademissions.

Oil&GasLibyahasacombinationofsubstantial,highquality,crudeoilreserves,andwhatisforecasttoemergeasahighlysignificantoffshoregasbasin.Theseresourcescombinetoconfirmitspositionasakeyregionalandglobalexporteroffossilfuels.TheyalsodrivetheLibyaneconomy,representingamassiveproportionofLibyanGDPandprovidingthefinancialcapabilityandcashflowtofundLibya'sambitiousgrowthplans.

TheenergysectorishighlyevolvedandhasbeensubjecttoperhapsthegreatestinternationalpartnershipandinvestmentofanysectorinLibya'seconomy.

Thepervadingsenseinthemarketisthatthedoortointernationalbusinesswillmovefromajartowideopenonceelectionshavetakenplaceandadegreeofbureaucratictransitionhasoccurred.ItthereforeremainscriticalthatUKIOCsandsupplyandmaintenancecompaniescontinuetoevaluatelocalsecurityconditions,continuetoidentifylocalcontractorswithwhichtheycouldpotentiallypartnerwhenthedoordoesfullyopen,andbuildrelationshipsacrossgovernment,theNationalOilCompanyandoperationalcompaniesnow.

ThereisanimmediatedemandforelectricityandpowerinLibyaaspowerstationsarebroughtbackonlineandoil&gasflowsareincreasedinordertomeetdomesticdemand,andtogenerateexportrevenues.ThereareUKcompaniesthatspecialiseinsupplyingtemporarypowergeneration.RepresentativesofthesecompaniesareknowntobeonthegroundinLibyaalready,buildinglocalcontactsandreviewingthemarket.

OPPORTUNITYLIBYA

Libyaisacountryundergoingatransitionwithmanycommercialopportunitiesarisingoutofitsreconstructionprocess.

ABCC-EF2.indd 24 10/10/12 13:47:14

Tel: +44 (0) 207 723 1733

www.londoncentralportfolio.com

CONTACTS

Long-termtradeopportunitiesexistaroundsupportingBritishIOCsandindependentoilcompaniesinwinningadditionalLibyanE&Pcontracts.TheLibyanoilandgassectoroffersenormousopportunitiestoUKbusiness,andappetiteislikelytobeverystrongforadditionalE&PcontractstothosealreadyheldbyUKfirms.

HealthcareLibya'shealthsectorhassufferedmajorneglectoverthepast40years,bothininvestmentandinstrategiccohesionandqualityofmanagement.AsituationhasbeenabletodevelopinwhichdoctorswriteprescriptionsinEnglishfornursesthatspeakArabic,inwhichthereare

nochildpsychologists,andinwhichmanywealthierLibyanstraveloverseasforoperationsandtreatment.

Thelonger-termreformanddevelopmentoftheLibyanhealthsystemwillbeamajortask,whichwillrequiresignificantinvestmentandpresentsamajoropportunityfortheUKwherecompaniesarewellequippedtoassistinaddressingurgentneeds.UKclinicalstandards,trainingandexpertiseareheldinhighregardbytheLibyanclinicalcommunityandtherearestronglinkswiththeNHSasalargenumberofLibyandoctorsqualifiedandworkedintheUK,andthereareapproximately3,000LibyandoctorspracticingintheNHS.TheUKssystemisseenasoneofseveral

internationalmodelsthatcouldbedrawnuponintheredevelopmentoftheLibyanhealthsystem.

UKTI,alongsideNHSGlobalandtheDepartmentofHealth,havebeenindiscussionswiththeLibyanMinistryofHealthtorefinetheirunderstandingofthecountrysneeds,andtocoordinatearesponsefromtheUKshealthsectorincludingpublicandprivatesectororganisationsanduniversities.AnumberofUKorganisationsthattookpartrecenttrademissionshavebeenactivelyfollowingupwiththeirLibyancounterpartsandareprogressingopportunitiesbilaterally.


Tripoli airport needs to be upgraded to meet the demands of increasing volumes of international business.

ABCC-EF2.indd 25 10/10/12 13:47:17

For more information on our high-quality, tailor made services, contact the team today. We are far and away the best!

T: +44 207 959 1105 E: [email protected]

As part of the Independent Clinical Services group, PULSE have recently been recognised as Staf ng Agency of the Year at the Health Investor Awards 2012. Our contributions to modernising healthcare staf ng and developing a complete range of specialist services are but a few of the reasons why we have been acknowledged as the best.

Renowned for our market leading presence in International hospital recruitment, PULSE offer the highest quality service unique to each and every client we work with.

Far and away the best!

Our teams use various targeted methods of recruitment to attract high quality candidates to match your requirements. We will work with you to design bespoke attraction campaigns that may include:Roadshows & Recruitment daysExhibitionsConferencesOpen daysSpecialist journal advertisingExisting UK & Overseas database communication

We support our healthcare professionals from start to nish assisting them with VISA administration, compliance, travel arrangements and accommodation. Our experienced and knowledgeable teams are fully versed in all of the documentation and visa requirements required to relocate candidates to each country. They will ensure that the application process runs as smoothly as possible and that we continue to supply the best professionals.

In recent years, PULSE has also been providing individual personal care provisions to private clients across the Middle East via our VIP Service. Whether their requirement is for medical, nursing or physiotherapy care at home or if they need assistance whilst travelling, we work closely with them to nd the most suitable healthcare professional for their needs. Our discretion is assured. Anyone we recommend is carefully and expertly screened and will sign a con dentiality agreement if required so our clients can be con dent that their privacy is protected.

We have dedicated teams in the UK, Australia and New Zealand who have built a network of the best practicing Executive and Healthcare professionals including:

Consultant DoctorsRegistered Nurses in specialties including, but not limited to, Critical Care, Acute Medical,Theatres, and PaediatricsMidwivesAllied Health ProfessionalsProfessors and Educators for Medical Universities

This has enabled us to form unrivalled relationships with Hospitals and Medical Centres who have the con dence in us to provide the best. We assign a dedicated representative to each of the countries we work in. Their knowledge and expertise means that our clients can rest assured that they have access to the best possible service.

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For more information on our high-quality, tailor made services, contact the team today. We are far and away the best!

T: +44 207 959 1105 E: [email protected]

As part of the Independent Clinical Services group, PULSE have recently been recognised as Staf ng Agency of the Year at the Health Investor Awards 2012. Our contributions to modernising healthcare staf ng and developing a complete range of specialist services are but a few of the reasons why we have been acknowledged as the best.

Renowned for our market leading presence in International hospital recruitment, PULSE offer the highest quality service unique to each and every client we work with.

Renowned for our market leading presence in Renowned for our market leading presence in

Far and away the best!

Our teams use various targeted methods of recruitment to attract high quality candidates to match your requirements. We will work with you to design bespoke attraction campaigns that may include:Roadshows & Recruitment daysExhibitionsConferencesOpen daysSpecialist journal advertisingExisting UK & Overseas database communication

We support our healthcare professionals from start to nish assisting them with VISA administration, compliance, travel arrangements and accommodation. Our experienced and knowledgeable teams are fully versed in all of the documentation and visa requirements required to relocate candidates to each country. They will ensure that the application process runs as smoothly as possible and that we continue to supply the best professionals.

In recent years, PULSE has also been providing individual personal care provisions to private clients across the Middle East via our VIP Service. Whether their requirement is for medical, nursing or physiotherapy care at home or if they need assistance whilst travelling, we work closely with them to nd the most suitable healthcare professional for their needs. Our discretion is assured. Anyone we recommend is carefully and expertly screened and will sign a con dentiality agreement if required so our clients can be con dent that their privacy is protected.

We have dedicated teams in the UK, Australia and New Zealand who have built a network of the best practicing Executive and Healthcare professionals including:

Consultant DoctorsRegistered Nurses in specialties including, but not limited to, Critical Care, Acute Medical,Theatres, and PaediatricsMidwivesAllied Health ProfessionalsProfessors and Educators for Medical Universities

This has enabled us to form unrivalled relationships with Hospitals and Medical Centres who have the con dence in us to provide the best. We assign a dedicated representative to each of the countries we work in. Their knowledge and expertise means that our clients can rest assured that they have access to the best possible service.

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ECONOMICFOCUS

EducationandSkillsAsignificantproportionofforeigneducatedLibyanshavebeentaughtintheUK,oftenthroughoneofthenumerousLibyangovernment-fundedscholarshipschemes.Inadditiontohighereducation,thecombinationofbothanestablishednetworkofEnglishlanguagetrainingcentresinLibya,andthevocationaltrainingandknowledgetransferthatmanyUKcompaniesincludeintheirbusinessofferwhenworkinginLibya,reinforcetheUK'sstrengthsinthissector.

AnumberofUKcompanieswereactiveintheLibyaneducationmarketbeforetherevolution,includingeducationconsultancies,equipmentsupplies,Englishlanguagetuition,andmanyUKuniversitieshadestablishedscholarshiplinksthroughtheLibyanMinistryofHigherEducation.

PriortotheconflicttheBritishCouncilhadpartneredwithTripoliUniversity(TU)onafive-yearprogrammetoteachEnglishinanumberofLibyanuniversities,leadingtotheestablishmentoftenregionalteachingcentres.Thisprogrammehadbeenverysuccessful,andTU'sEnglishLanguageFacultyareverykeentoexpandtheprogrammetoincludeteachingatsecondaryschoollevel.ThisareapresentsexcellentopportunitiesforUKuniversitiesandcommerciallyruneducationalorganisations.

Therearealsosignificantopportunitiesinthevocationaltrainingsector.ItwasincreasinglycommoninthepastfortheLibyangovernmenttoplacecontractualrequirementsonforeigncompaniestoprovidevocationaltrainingtolocalworkersco-deliveringmajorprojects.Thereareparticularlystrongdemandsforvocationaltrainingintheoilandgas,healthcare,andtelecomssectors.

TheOpenUniversityandtheArabOpenUniversity(AOU)havebeenaffiliatedforanumberofyears.OpportunitiesstemfromtheAOU'splanstosignificantlyexpanditscurriculumintohealthandsocialcare,Englishlanguagetuition,andcomputerengineering.TheprovisionofdistancelearningcoursesisanticipatedtoresonatewellinLibya,notleastwhiletheeducation

sectorrecovers,providinginitialcapacityandupskillingtoanationwithimmediateplansforeconomicdevelopmentanddiversification.

Technology(ICT)Libyahasambitiousplansforcreatinganadvancedeconomy,modelledonitsEuropeanpartners.Thisnecessitatessomestate-of-the-artcommunicationsinfrastructure.Atpresent,Libya'sICTinfrastructureisdatedandunreliable.Forexample,onlysomeEuropeanmobilenetworkshaveroamingdealswiththeLibyan(stateowned)networks,initselfabarriertointernationalbusiness.InternetaccessisverysloweveninTripoli,andslowerornon-existentelsewhere.Internetaccessstandsataround6%-7%countrywidealthoughthereisanambitiousgovernmenttargetof100%by2015.ThetechnologyunderpinningoperationsoutsideofthepureICTsectorareequallydated;forexample,bankingsystemsareindesperateneedofmodernising,andmedicaltechnologyinpublichospitalsrequiresinvestment.

However,thereisagrowingviewthatLibyamayhaveafutureasaregionaltechnologycentre.

EducationinLibyaisaprestigiousissue,andmanyofthecountrysuniversityeducatedmiddleclasseshavemedicalorengineeringdegrees.Increasingly,ICT-relateddegreesincomputersciencesandotherapplicablesubjectsarebeingconsideredviablealternativestothesetraditionalstaples.Ifthistrendcontinues,LibyawillhaveanincreasinglylargepopulationofhighlyskilledICTprofessionals,whichinturnwillinfluencetheevolutionofLibya'seconomyintoamoderndigitalstate.

DuetothesignificantspendingrequiredformanyofthenationalICTinfrastructureprojects,itisunlikelythattheLibyangovernment'sstrategywillbeclearuntilaftertheelections.

CivilSecurityLibya'ssuccessfulfutureisfundamentallyreliantonitssustainedstability.Butthere

isasignificantriskthatwithoutbothimmediateinvestmentsincivilsecurity,alongsideeconomicgrowthandemploymentopportunitiesinotherindustrialsectors,Libyawillnotachieveitsgreatpromisetoemergeasaregionalsuccessstory.

Thescaleofopportunityinthissectorishugeandthepotentialvalueofthesectoriscomparableonlywithoilandgasintermsofabsolutevalues.UKcompaniesarekeenlyawareofthis,andmanyareconductingmarketvisits.

AsLibyasoilfieldsarereactivatedandforeigncompaniesreturntothecountrytocontinuewithproductionandexplorationactivities,therewillbeareneweddemandforoilfieldprotectionservicesfromthesecurityindustry.Equally,thereisanongoingneedtoprotectpowerplants,ports,andgovernmentbuildings.

Libyahasahugeandlargelyunprotectedborder.Securingitisofcriticalnationalimportanceandpriority.TherearemajoropportunitiesforUKcompaniestohelpsupplythesolutiontothisproblem.Immediateopportunitiesareinrelativelylowtechnologyanswers,includingpatrolvehicles.However,itislikelythattheseimmediateapproacheswillbesupplementedbyhightechnologysolutionsinthelongterm,includingbiometricvisacontrol.

Thereisapressingneedtoensurethatpoliceofficershavebeentrainedinmodernpolicingtechniques,thattheLibyanpoliceforceisorganisedeffectivelyandtransparentlyinordertobuildtrustwiththepopulationwhichitpolices,andformodernequipmentandhardwaretosupportthis.

Business&FinancialServicesWithoutagileandrobustfinancialservices,underpinnedbyupdatedregulations,Libyaislikelytoencountergreatdifficultyinunderwritingandadministeringitsmulti-billiondollarnationwideinfrastructureinvestmentprogramme.Thefinancialservicessectorwassubjecttoreformduringthepast5-10years,includingliberalisationofdomesticownershiprulesforretailbanks.ThisledtoanincreaseinthenumberofforeignbanksoperatinginLibya,ledbyinstitutionssuchastheBritishArabCommercialBank.

However,reformswerenotsufficientlyfarreaching.ThecurrentadministrationinTripolihaspublicallyannouncedthatitplanstotackleregulationofthesectortoenablethelevelsofforeigninvestmentrequiredtomeetLibya'sgrowthplans.Thisisexpectedtobethroughupdatingthe2005bankinglawwhichfirstopenedthemarketuptoforeignbanks,andchangingtheexistingnationalbankingstructure.

BritishcompaniesestablishedinthemarketincludeassetmanagementsuchasBarclaysCapitalandRBS;Commercialbanking,namelyABCInternational,BritishArabCommercial

ABCC-EF2.indd 28 10/10/12 13:47:38

BankandStandardChartered;retailbanking,HSBC;andbusinessserviceswhereKPMG,E&Y,PWCandtheLawSocietyareactive.

AnewopportunitywasidentifiedinprovidingadvisoryservicestotheLibyangovernmentonbankingreformandregulation.AclearneedhasbeenexpressedbythegovernmentandawillingnesstoassistwasexpressedbyUKindustry.

InfrastructureLibya'sinfrastructureneedsremainacuteasisreinforcedbytravellingtoTripoli.Theoldairportisdatedandnotfitforservicingincreasingvolumesofinternationalbusiness.Theroadsarefullwithtraffic,andshortdistancestakealongtimetocover.Thereisnopublicbussystem,ormetro,sotheroadsareburstingwithtrafficleavingpeoplewithnoalternativemeansofreachingadestination.Wastemanagementisminimal,thoughthatislikelytoimproveasservicesarereintroduced.

MarketentryforUKfirmsextendsbeyondwinningprimecontracts,orsupplyingUKcompaniesatornearthetopofthesupplychain.Therearehugeopportunitiesinpartneringwithforeignprimesfrom,forexample,Tunisia,MaltaandTurkeyamongstothermajorplayers.

ThereisanopportunityforBritisharchitectureandtownplanningconsultancyfirmstohelpmasterplanLibya'sgrowth,and

subsequentlyforBritain'shighlycapableengineeringconsultancyindustrytooverseetheimplementation.BuildingrelationshipswiththekeydecisionmakersandinfluencersintheNTC,ministriesandLibyanbusinessearlyonwillbecriticaltotheUK'scompetitiveadvantageinfuturecompetitionsforthiswork,andforgatheringintelligenceabouttheLibyangovernment'sstrategicambitionsforthesector.

BenghaziInfrastructureBenghaziwasdeliberatelysidelinedbythepreviousregimeandsufferedunderinvestment.Somerecentinvestmentisknowntohavetakenplacesuchasairportrebuildingaspartofthewiderairportrebuildstrategy.AnumberofopportunitieshavebeenhighlightedthroughUKTIofficeinTripolivia"TeamMaghreb"inBenghazi.

MarketSummaryLibyaisamarketthathasnotyetbeenexploitedbyUKcompanies.TheUKspre-revolutionmarketshareofLibyanimportswasverylow.Thereareanumberoflikelycausesforthis,includingverysignificantbarrierstoentry,andissueswithtransparencyofbusinesstransactions.However,thebusinesscontexthasnowchangedandLibya'snewgovernmentischampioningequitablebusiness,andisslowlybutsurelytacklingtheobstaclestointernationalinvestmentthatitinheritedfromthepreviousregime.

Libyaiscashrich,withbillionsofcapitalreservesinsavings,andarichsupplyofhighlyvaluableprimeoil(andlikelygastoo).Thecountryhasextensiveneeds,andstrongtieswiththeUK.ThusthereisahugeopportunityforgrowthinUKexportstoLibya.Theseexistacrossthespectrumofbusinessoutlinedabove.Particularlyvaluableopportunitiesexistinenergy,healthcare,civilsecurityandinfrastructure.However,notableopportunitiesexistelsewheretoo,includingforUKSmallandMediumEnterprises(SMEs)toenterthesupplychainsformajorprojects.

BusinessinLibyarequirescommitmentandpatience.WhatsomehaveperceivedasslowprogressinopeningtobusinesssincetheLibyanrevolutionisinitselfanopportunitytoprepareforthewidespreadtenderingofmajorinvestmentprojectsbythenewLibyangovernment.ItiscriticalthatUKcompanieswithaninterestinenteringthisexcitingmarketinvestnowinvisitingLibya,buildingrelationships,meetingkeyplayersingovernment,administration,andbusiness,andthenreturningtosustaintheserelationships.

MakingthatinvestmentnowislikelytoleadtovaluableandsustainablebusinessinoneoftheworldsmostambitiousandwealthynationsandonethatisonlyafewhoursfromtheUKbyair.

ThisarticleisbasedoninformationcontainedinthereportpublishedbyUKTI,HighValueOpportunitiesinLibya.


ABCC-EF2.indd 29 10/10/12 13:47:39

ECONOMICFOCUS

AhighproportionofBijansprofessionaltimeisspentengagedinworkthatisrelatedtoMENAactivities,developingrelationshipsandpromotingclientsandprospectivebusinesscontactstoeachotherandviceversa.IhavedealtwiththeGCCsince1992andhaveacquiredasoundknowledgebaseandahighlevelofbusinessconnections,manyofwhomhavenowbecomeverygoodfriends,heexplains.

Concerninghisinitialentryintothelegalfield,Bijansays,thisoccurredmorebyaccidentthanbydesign.HavinglaunchedintohisAlevelsoneyearearlyandintendingtoembarkonascience-basedfuture,hewasinitiallysettingouttobecomeamedicaldoctor.But,hecontinues:Physics(andmycompletedislikeforthesubject)putpaidtothatandIchangedtoarts-basedsubjectsand

thenbecameenthusedtoreadlawbutwithoutanyfinalfocusonwhatIwoulddowithmylawdegree.Bythethirdyearofmylawcourse,Irealisedthatacareerasasolicitorappealed.IappliedtoWragge&Co(whichwasthenthepre-eminentlawfirmoutsideLondon)andwasfortunateenoughtobeofferedatrainingcontract.AftergraduatingandjoiningWragge&Co,Ididnotlookback.

ALAWYERWHONEVERLOOKSBACK

EconomicFocusspeakstoleadingbusinesslawyerMrBijanSedghiwhohasneverlookedbackafterjoiningWragge&Coatthestartofhisimpressivelegalcareer.WeaskedBijantosharesomeofhisexperienceofdoingbusinessintheMiddleEastandtheGulfinparticular.

ABCC-EF2.indd 30 10/10/12 13:47:40


Describingthefactorsthatcontinuetodriveandmotivatehiminhiscareer,Bijanexplainsthat:Mykeymotivationhasbeentoacquireandenjoyasuperlativereputationforthehighestqualityofclientservicebothintermsoflegalandcommercialadvice.Mykeyinfluenceshavebeenmyfatherforhisworkethosandintegrity;aformerseniorpartnerinlawcalledJohnWardle,whoencouragedmetotakeonPlcdirectorshipsattheageofthirty;andJackOrmerod,aformerPlcChairmanwhopersuadedmetojoinhisBoardandembarkonanindustrialcareer,too.

Asalawyer,Bijansreputationrestsonhisexpertiseinprovidingbusinessadvice.Ashesays,Myareaofexpertiseliesinbuilding

businessesasaprincipalandalsoasanadviser.Ihavebuiltbusinessesin:

l Thelaw(buildingthelargestinsolvency practiceoutsideLondonintheearly 1980s);

l Industry(buildingaquotedinternational engineeringgrouplistedontheLondon StockExchange);

l Rebuildingadistressedengineering groupquotedontheLSEattherequestof itsBoardandfinancialadvisers;

l Re-enteringthelawandbuildingnew practiceareasandnew strategicrelationships.

Mystrengthslieinseeingthebiggercommercialpictureandnotbecomingimmersedintheminutiaebeingabletomovetheneedleonthespeedometerofanyorganisation.

Bijanfurtherelaboratesonhisrole:AsanoperatorandmanagerofbusinessesatChairmanandCEOlevel,publicandprivate,Itendsitwiththeclientonhisorhersideofthetable,understandingthebusinessandwhattheyreallyneedtoachieveandthendevisingthebestmeanstoproduceasuccessfuloutcome.

Reflectingonhismainachievementstodate,Bijanpointstohow,attheageof

Maketheefforttospeakthelocallanguage.Respectthereligiousviewsandpractices.Observelocalcustomsandtraditions.BesensitivetothepeopleintheGulfbecausetheywillshowyoutheutmostinhospitalityandcourtesy.

Bijan Sedghi

ABCC-EF2.indd 31 10/10/12 13:47:41

ECONOMICFOCUS

twenty-eight,hebecameapartnerinalargecommerciallawfirmandbeforetheageofthirtythree,hehadbecomeChairmanoftwoengineeringgroupsquotedontheLSE.

Heisproudofthefactthathehasreceivedrecognitionforhisworkandpointsoutthatattheageof37,hewasincludedinTheTop40under40byBusiness Magazine.

Icombinedtheseachievementswithworkingalsoforgovernment(theDepartmentofTradeandIndustryandtheDepartmentofHealth)anduniversities(AberystwythandAstonUniversity)andsimultaneouslyservingtheprivateandthepublicsector,heexplains.

IwasembarrassedtobedescribedbyaprominentventurecapitalistasthemostcommerciallawyerIhaveevermetandbytheCEOofafamilyofficeasthebestBritish-basedlawyerinLondonneitherofwhichquotationsmodestypermitsmetoendorsetheymustbereferringtosomeoneelse,Isay!

Weaskedhimforhisviewsonthemainchallengesandopportunitiesfacingcorporatelawyersintodaysbusinessenvironment.TodaysbusinessenvironmentintheUKistoughforallofthereasonsweappreciatelackofliquidityinthebankingsystem,austeritymeasures,recoveryfromneareconomicmeltdown,globalrecessionarypressuresandthecontinuedmigrationofmanufacturingtolowercostbaseselsewhereintheworld,heobserves.

Inevitably,thissituationishavinganimpactonhowlawfirmsoperate,Bijanexplains.So,lawfirmsfindthemselvescompetingforworkandatalowercost.Additionally,regulatorycontrolsorrestrictionsbecomefurthernecessaryasthelighttouchapproachmaybeconsideredtohavefailedthosewhomitwasmeanttoprotect.So,withlegalfeesunderpressureinamarketwhichhasseenfewerdeals,thechallengeforthelawyeristostandoutfromthecompetitioninordertowintheworkatafairprice.

Otherfactorsnowbecomeimportant,suchasaddingvaluetotheclientandtheclientsbusinessthroughcommercialintroductions,innovationandqualityenhancementandhavingaglobaloffering.

Wragge&CohasbeenbasedinBirminghamsincethe1830sandiscurrentlythelargestprivatesectoremployerinthecitycentre.Bijanstartedworkinthecityin1975.Birminghamofferedalow-cost,well-positionedhubfromwhichtooperatenotjustnationallybutinternationally.ButnowadaysBijanworksmostlyoutsidethecity;heretainsadeskinBirminghamwhichishiscorporateHQbutheisbasedinLondonforalmostfourdaysaweekaswellastravellingabroad.

WeaskedBijanhowhewouldadviseacompanyseekingtodobusinessintheGulf

forthefirsttime:Whatarethekeylegalpitfallsthatacompanyshouldlookoutforwhendoingbusinessintheregion?Alwaysexercisehumilityandpatienceinthatorder.Donotunder-estimatethebusinessacumenofGCCnationals,manyofwhomhaveenjoyedthehighestlevelsofeducationandareextremelysophisticated,Bijansays.

Rememberthat(throughextremepoliteness)thewordNoisrarelyusedbutthattherearevaryingshadesofYes.Donotbepushy.Donotpressurise.Beentirelyrespectful.Talkfamilybeforebusinessandbuildafoundationoftrustandconfidencebeforefinanceandmoney.

Hisadvicecontinues,Maketheefforttospeakthelocallanguage.Respectthereligiousviewsandpractices.Observelocalcustomsandtraditions.BesensitivetothepeopleintheGulfbecausetheywillshowyoutheutmostinhospitalityandcourtesy.Donottrytotakeadvantage.Takeprofessionaladviceastowhereyousetupandhowandviewtherelationshipaslong-termandmutuallybeneficial.

Endingwithanoteofcaution,Bijansays,Trynottobethestereotypicalexpat.Trytothinkasifyouarealocalbutdonteverpretendtobelocal.Takealong-termview.Enjoybutdontrush.SayShukranwithsinceritywhenyousucceed.DontassumethingswillalwayshappenasitwilldependuponGodswill.

Lookingaheadtothepathwaysthathiscareerwilltakehimintheimmediateandlongtermfuture,Bijansays,Mylong-termcareerambitionsaretoservemyclients,mypartners,mygovernment(andmyfamilyandfriends)foraslongasIcaneffectivelydoso,Godwilling.

Wragge&CoisamemberoftheArab-BritishChamberofCommerceandBijaniskeentorecommenditsservicesandactivities.TheArab-BritishChamberofCommerceisamosteffectiveforumthroughwhichbusinessesandindividualscantransactwiththeMENAregionandtheUK.ThemembershipfeeshouldnotberegardedasacostbutasaninvestmentanditisoneofthebestinvestmentsIhavemade,beingamemberviaTheInformedExecutiveandalsoviaWragge&Co.

BijanendswithastrongendorsementoftheworkoftheChamberandthesupportservicesitprovidestobusiness:IrecommendstronglythatanyoneseekingtodobusinessintheMENAshouldjointheChamberandparticipateactively.ThroughitshighlyprofessionalteamcapablyledbyitsCEOandSecretary-General,DrAfnanAl-ShuaibyanditsBoardastutelychairedbyTheRtHonBaronessSymons,theChamberoffersaverypowerfulandsupportivevoiceforitsmembers.

TheInformedExecutivewww.informedexecutive.co.uk

Wragge&Co www.wragge.com

ABCC-EF2.indd 32 10/10/12 13:47:47

ExportDocumentationTheChambersuniqueExportDocumentationserviceisanimportantassettoArab-Britishtrade.Withourextensiveexperience,weareideallypositionedtoassistexportersenteringthesubstantialandsophisticatedArabmarket,encompassingallyourcertificationandlegalisationneeds.

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http://www.abcc.org.uk/Export-Documentation

TranslationServicesABCCspecialisesinArabic/EnglishandEnglish/Arabictranslationforover35years.

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http://www.abcc.org.uk/Translation-Service

VisaServicesABCCvisaserviceisavailabletoUKfirmsandfirmswithofficesintheUK.IfyouaretravellingonbusinesstoanyArabcountryandneedavisasecuredquicklyandefficiently,thentheChamber'sVisaSectionistheidealpointofcontact.

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http://www.abcc.org.uk/Business-Visa-Services

FCOServiceABCCprovidesa24hourserviceforFCO.Tomakeuseofthisservicepleasecall

Mr Cliff Lawrence on 020 76594881

NotaryServiceABCCoffersthisuniqueservicewithin48hours.Tousethisservicepleasecall

Mr Cliff Lawrence on 020 76594881

VenueHireABCCoffersclientsacontemporaryvenuetosuitavarietyofdifferenteventsandmeetings.ToseethebusinessandconferencefacilitiesthattheChambercanprovide.

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http://www.abcc.org.uk/Venue_Hire

ChamberEventsTheChamberorganisesaprogrammeofprestigiousevents,businessroundtables,briefings,seminars,conferencesandreceptionstakingplacethroughouttheyear.TheseeventsofferashowcaseforthelatestprojectsandmajordevelopmentsintheArabeconomies.

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http://www.abcc.org.uk/Events

BecomeaMemberThebenefitsofbecomingamemberareconsiderable:joiningtheChamberputsyouincontactwithawidebusinessnetworkintheUKandtheArabWorld.

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http://www.abcc.org.uk/Members_Benefits

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