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The New Suez Canal is estimated to more than double revenues, from
$5bn annually to $13bn annually by 2023. The canal is part of a stimulus
package, meant to regain pre-2011 growth rates of 7% and create new
jobs in Egypt.
By Morten Siem Lynge, Consul General and Regional Coordinator
In a time where news networks broadcast daily reports on turmoil and bombings in the Middle East and
Northern Africa, it is important to remember that the
MENA region is a highly diverse region populated by
more than 350 million people and it is a region
marked by strong future growth, thus also a region
with an incredible potential for Danish companies.
In the most recent World Economic Outlook from the
IMF (July 2014), the economic growth in the entire
region and the GCC-countries in particular is expected
to remain strong. The average growth for the six GCCnations through 2014 and 2015 is projected at 4.5
percent annually. Opposing what could be expected,
the growth is primarily driven by non-oil GDP which is
expected to grow by 6 by percent in the GCC coun-
tries. For the entire MENA region estimates indicate
growth rates of 2.6 and 3.8 percent in 2014 and 2015
respectively.
In this issue of Business News you can read about
Morocco, a new member of the Danish Trade Council’s MENA cooperation. Furthermore, you can explore more about such diverse topics as the new Suez
Canal in Egypt, healthcare in Jordan, the Lebanese
fashion industry, the Saudi Arabian construction industry, fraud in the UAE, and much more.
With those words I would like to welcome you to this
issue of Business News, the Trade Council’s regional
newsletter for the MENA region. We hope that you
will enjoy the newsletter, and look forward to working with you in the future.
SPOTLIGHT
FRAUD
MARKET INFORMATION
Egypt: New Suez Canal to
Boost Egypt’s Economy
UAE: Beware of Fraudsters
Morocco: Competitive Regional Hub
A second Suez Canal is one of
the main elements in an Egyptian stimulus package. The
new canal has the potential to
not only strengthen the Egyptian economy but also impact
global trade.
Page 2-3
An increasing number of individuals contact companies
with too good to be true offers. How to spot a genuine
investor from a criminal?
Page 4
Located right at key international trade routes and with its
many free trade agreements
Morocco represents an attractive hub for business.
Page 5-6
HEALTHCARE
CONSTRUCTION
PHARMACEUTICALS
Jordan: Healthcare and
Pharmaceuticals in Jordan
Saudi Arabia: The Booming
Construction Sector
Egypt: Novo Nordisk Invests to Fight Diabetes
With its many medical tourists
Jordan offers a number of
opportunities to pharmaceutical companies.
Page 7
Development of the Jubail
Industrial Zone requires
products, technologies, and
services.
Page 8
In collaboration with Egyptian
authorities Novo Nordisk will
develop much needed insulin
production facilities in Egypt.
Page 9
FASHION
ENERGY & ENVIRONMENT
MARKET ENTRY
Lebanon: The Fashion Industry in Lebanon
Kuwait: Dry Country with a
High Demand for Water
UAE: Danish Solar Energy
Entering the Middle East
Beirut, the fashion capital of
the Middle East, attract tourist
from the entire Gulf region
looking for brand products.
Page 10
Very limited access to drinking
water and high consumption
is creating problems in rich
and thirsty Kuwait.
Page 11
Assisted by the Trade Council
Gaia Solar has entered the
UAE, in the process they have
gained valuable experiences.
Page 12
DANISH COMPANIES’ ENTRY TO THE MIDDLE EASTERN MARKET
The Trade Council is the official
Danish Export and Investment Organisation. Its purpose is to promote
and help Danish companies with
matters relating to their export and
internationalisation. In the Middle
East, we are represented in Egypt,
Iran, Iraq, Morocco, Lebanon, Saudi
Arabia, Syria, and the United Arab
Emirates, but our network and competences cover several other markets in the region, including Kuwait,
Jordan, Oman, Qatar, Bahrain, and
Yemen.
As the Middle East is a very diverse
area and represents great opportunities for competitive Danish firms,
your business can benefit from the
Trade Council’s local knowledge and network.
We offer a wide range of commercial services from market surveys
and feasibility studies to partner
searches, alliance building and strategic sparring. We have for many
years been assisting Danish companies based on extensive knowledge
in the region.
BUSINESS NEWS
Is published biannually and features
interesting articles high-lighting
business opportunities in the Middle
East and North Africa Region.
SUBSCRIPTIONS
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NEXT ISSUE
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A Second Suez Canal to Boost Egypt’s Economy
On the 5th of August the newly elected president
of Egypt, Abdel Fattah el-Sisi, inaugurated the
building of an extra waterway alongside the
existing Suez Canal. This very ambitious project is
set to cost around EGP60 billion (USD8.4 billion),
and is, according to the Suez Canal Authority,
estimated to more than double revenues from
USD5 to USD13 billion annually by 2023.
development of five new seaports, a technology
valley, and a centre for supplies and logistics. This is
meant to help diversify the economy towards more
high-tech sectors, and divert demographic and
economic concentration in Cairo towards the
North-East. The international consultancy company
Dar Al-Handasah has been awarded the tender to
develop the project.
A Project of National Pride
As with the Aswan Dam there has always, among
the general populace of Egypt, been a sense of
pride of this grand feat of engineering. It was
therefore generally very well received, when
President Abdel Fattah el-Sisi announced that the
project will be funded exclusively by the Egyptian
people through bank certificates, sold to Egyptian
citizens residing both in Egypt and abroad.
The World Bank has announced its support for the
project, and agreed to provide assistance and
advice for the construction phase, which is already
commenced. World Bank director Hartwig Schafer
has stated that the project will change the
economic landscape of Egypt and make foreign
investment flow into the country.
The New Suez Canal Project is part of a major fiscal
stimulus package meant to regain pre-2011 growth
rates at 7% and create jobs. It does not only involve
the building of a second canal and improvement of
the existing canal, but a Suez Canal Axis
Development Project is also under way, which
amongst other things involves the creation of an
industrial hub in the adjacent area, the
The popularity of the project has been apparent, as
the entire amount of USD8.4 billion was attained in
less than a week. The government had made sure
to provide plenty of incentives for investors as
there were very favourable 12% interest rates on
the certificates guaranteed by the ministry of
finance, a rate with which no banks can compete.
Approximately 7.5% of world trade
currently passes through the Suez Canal
Growth and Investment Perspectives
The Egyptian economy remains in a fragile state, as
the absence of tourism and investments continue
to hollow out currency reserves and curtail growth.
In order to prop up the economy, the Gulf countries
of Saudi Arabia, The United Arab Emirates and
Kuwait have provided Egypt with in excess of $20bn
in aid and investments.
Such funds are highly needed by an economy that is
struggling with low domestic energy supply and a
high budget deficit. These factors have so far kept
international investors at bay, and the new
government has therefore set forth plans to reform
the extremely costly subsidy system, and diversify
the country´s energy needs through wind, solar,
and nuclear power. The government’s goal is to bring the deficit down from 15% in January 2014 to
10% by June 2015. The positive tones in the
Egyptian
development
have
not
passed
international markets, and investors are steadily
regaining confidence in the soundness of the
Egyptian economy.
Consumer Confidence Stimulates Trade
Like the international investors the Egyptians
themselves are regaining confidence in the
Egyptian economy, mainly due to a falling
unemployment rate following the new government
initiatives. As a consequence the demand for
goods, both Egyptian and foreign, are increasing in
Egypt, thereby contributing to the need for a new
canal.
Egypt was the first country in the world
to make a man-made canal, the canal
connected the Mediterranean Sea to
the Red Sea in 1874 B.C.
As it is seen in Egypt, also consumers in many other
markets are regaining confidence in their
economies, thus spending in increasing and global
INFO: The New Waterway
So far 17.5 million cubic meters of waterway have
been dug of the new canal, and 52 companies are
present at the project site. The 72km long second
canal involves 35km of dry digging and 37km of
expansion and deepening. This will result in a
reduction of the crossing time from 11 hours to 3
hours per ship, which accordingly will boost the daily
capacity of the canal from 49 to 97 ships.
trade is yet again on the rise, creating a favourable
investment climate for the new Suez Canal Axis.
Some companies and countries have thus already
expressed interest in investing in the new project.
Maersk, with the majority share in the Suez Canal
Container Terminal in Port Said, has expressed
interest in further investments in Port Said as well
as other potential projects as part of the Suez Axis
Development Project. Russia has likewise held talks
with the government concerning investment in
industrial zones.
The success of the New Suez Canal Project depends
on the ability of the new government and
ministries, in collaboration with international
partners, to create a stable and attractive
environment for investments, and to coordinate
the project in a deliberate manner and within a
realistic timeframe. If such criteria are met, the
project could have an immense impact on the
Egyptian economy and perhaps even on world
trade. |BN
Beware of Fraudsters in the UAE
During the last year a number of fraudsters have
tried, and in some cases succeeded, to trick
European companies by promising investments
and loans in return for a fee. When the fee is paid
the victims rarely hear anything from the fraudster
again.
More Fraud Surfacing
During the last year a number of fraudsters have
tried, and in some cases succeeded, to trick
European companies by promising investments and
loans in return for a fee. When the fee is paid the
victims rarely hear anything from the fraudster
again.
During 2014 the UAE has been targeted by an
increasing number of financial criminals using
sophisticated methods to defraud companies and
investors. The most prevalent scan is when frauds
use website covers to impersonate genuine
investments companies and individuals in the UAE,
thereby gaining the trust and interest of the target.
The initial contact by the fraud typically happen
through email or LinkedIn, where they claim to
have a particular interest in the company and
promise huge investments, loans, contracts, or
something else in return for a deposit. Companies
who pay the deposit rarely hear anything from the
fraud again and receive nothing in return. In other
cases, criminals attempt to pass themselves off as
genuine financial organisations seeking investor
funds through sophisticated websites that are
merely copies and reproduction of real companies.
Advance fee scams are sometimes
known as “419s” by regulators and investigators, named after section 419
of the Nigerian penal code which deals
with fraud
The Typical Scam
An example of such a scheme was two criminals
using Al Mashriq Commercial Investment
Corporation as a cover and claiming to have
approval from Dubai Financial Services Authority
(DFSA) for a scheme to offer loans in return for a
$53,000 insurance bond. In other cases, criminals
imitate the identity of a genuinely licensed DFSA
firm by creating a fake website without authority
and for a malicious purpose.
The DFSA said: “Advance fee scams are just one of many types of fraud that have become prevalent in
recent times because they have proven to be an
efficient and cost-effective way of defrauding the
public. The ever-increasing penetration of internet
usage at all levels of society has enhanced their
efficiency greatly.”
The Role of the Trade Council
The Danish Trade Council in Dubai maintains a list
of the known frauds, and can use its network to
check whether companies are genuine or part of a
scam. If you should receive an offer that seems to
be too good to be true or if something seems off,
you can contact the Trade Council where we can
evaluate the reliability. |BN
A Competitive Regional Hub with Considerable Business Opportunities
At the crossroads of key international exchange
routes linking USA, Europe, Africa, and the Middle
East, Morocco is an attractive hub for business in a
dynamic region.
Having had direct contact with Europeans since at
least the Roman times, the relations with the north
still flourish. Morocco is a multi-lingual society
where French is widespread as a business language
with a growing penetration of English among young
people and management staff. A shared history and
deep-rooted trade relations with West Africa makes
Morocco a unique gateway for business in this
region.
Within Morocco’s main economic sectors, the country aims for 20 million tourists yearly by 2020.
It is the first worldwide producer of phosphates and
derivatives, and agriculture accounts for 16-20% of
GDP. New industries, such as aeronautics and
automobiles, are now drivers of growth and areas
of innovation for the Moroccan economy and there
is an ongoing effort to diversify the country’s industry.
Strategic advantages
Morocco has a well-developed infrastructure
covering land, sea and air. Located only 14 km from
Europe, the country offers competitive costs of
transportation. Combined with a young and active
population and low-cost labour, low tax rates and
export costs, the country’s costs of production remain ambitious.
With Morocco’s more than 50 free trade agreements there is access to
over 1 billion potential customers
Morocco enjoys advanced status with the EU,
securing increased cooperation and harmonized
industrial and commercial standards.
Favourable business climate
Morocco is economically stable with sustainable
debt levels, a controlled inflation around 2 per cent,
and average annual growth rates for the past 10
years around 4.5 per cent.
Open economy with a strong and
modern banking sector
The country has made an effort to increase the
ease of doing business, and has jumped 29 places in
the last three years, ranking 87th in the World
Bank’s 2014 Doing Business report.
Green economy
Disposing of no known domestic fossil fuel reserves,
Morocco is eager to invest in energy saving
technologies and the development of renewable
energy. The country has an ambitious set of goals
for green growth. Morocco’s aim is for 42 % of its energy generation capacity to be based on
renewable energy by 2020.
Morocco
The Moroccan economy proved resilient in 2013,
the growth in the economy was mainly driven by
domestic consumption, public investments and a
good agricultural year. Investments and reforms in
Morocco have accelerated the economy’s structural transformation.
Investments in sectorial strategies and reforms
have
further
accelerated
the
structural
transformation of the economy and promoted new
products.
Trade Council Rabat
The Danish Embassy in Rabat covers the countries
of Morocco, Tunisia and Mauritania. It has for
several months been engaged in a campaign to
promote Danish investment in the fields of
renewable energy and energy efficiency in Morocco
to establish Danish-Moroccan partnerships. Beyond
these efforts, the Embassy has been conducting
market research and partner search for Danish
companies working in the industrial sector.
Tunisia
The growth in Tunisia is likely to accelerate in 2014
and 2015 due to the adoption of a new constitution
and formation of a transitional government
composed of technocrats.
Commercial Advisor in Rabat
Reingard Bretéché has joined the Embassy of
Denmark/The Trade Council in Rabat in May 2014.
She obtained diplomas in “Tourism and Management” and “Public Policy and Management” and has more than 15 years of working experience in the public and private sector.
In her last position she coordinated the Council of
European Investors in Senegal and acted as an
entry point and orientation for European
companies from different sectors including
industrial and consumer goods in Senegal.
Mauritania
Mauritania is experiencing strong growth which is
estimated to remain so in the short term. Despite
the favourable economic indicators observers are
not sure the Millennium Development Goals will be
achieved by 2015. The goals towards education are
close to fulfilled, but in the field of health there is
still much to be done.
Tunisia’s return to durable growth requires a rationalisation of public spending and effective
oversight of the financial sector, the labour market,
and investments.
Mauritania needs to intensify structural reforms
and develop a genu innovation policy to diversify its
production base and increase its value added in
global value chains. |BN
Country Facts
Capital
Morocco
Rabat
Tunisia
Tunis
Mauritania
Nouakchott
Area (km2)
Population (million)
GDP Growth
Inflation rate
Current account balance
715,550
33
3.20%
2.70%
-7.80%
163,610
11.1
3.30%
5.50%
-7.40%
1,030,700
3.98
6.90%
5.00%
-27.10%
Healthcare and Pharmaceuticals in Jordan
Jordan is the leading country in the MENA region
when it comes to healthcare. The country attracts
medical tourists from the entire region; people
who are attracted by the companies many
hospitals and the high quality.
revenues exceeding USD 1 billion. There are 106
hospitals and 2,090 pharmacies spread across the
country serving the different areas and people. In
2012 the number of admissions to the hospital was
339 thousand according the Ministry of Health in
Jordan. This development adds great value to the
industry, which is drawing in financial support to
improve and enhance the quality and safety of
hospitals and medical services.
Composition of health expenditure
36%
Jordan, Amman in particular, is renowned for its
quality healthcare industry, both regionally and
internationally. The pharmaceutical sector is one of
the largest industries in Jordan. According to a
report by the Jordanian Ministry of Health,
conducted in collaboration with the World Health
Organization, the annual expenditure on health was
in 2008 USD1,951 million, accounting for 8.58% of
the GDP. The pharmaceutical sector takes a large
chunk of the expenditure reaching USD701 million,
35.9% of the total health expenditure and about 3%
of total GDP. On a per capita basis the
pharmaceutical expenditure is about USD 120
annually.
The Jordanian life expectancy of 80.18
years is the highest in the MENA region.
Source: Index Mundi
Jordan is also a leading destination for medical
tourism in the Arab world. According to the Private
Hospitals Association, Jordan attracted more than
250,000 foreign patients in 2012 with total
64%
Pharmaceutical
Other
Danish pharmaceutical companies take a large
share of the Jordanian market. This is because the
Danish pharma products have a strong, respected
and positive image in terms of quality and
reliability. The total imports of pharmaceutical
products from Denmark to the Jordanian market in
2013 were USD 24.2 million, a 39% increase
compared with 2012 (Department of Statistics
Jordan, 2014).
The biggest Danish players on the Jordanian market
are Leo Pharma, Novo Nordisk, and Lundbeck. Join
these large companies and benefit from the
growing Jordanian pharmaceutical market. |BN
Saudi Arabia’s Construction Sector is Booming
The massive industrial developments taking place
at Jubail Industrial Zone offers promising
opportunities for companies providing products,
technologies and services to the industrial sector.
The fairly-new mining giant, Ma’aden which is the
only state mining company in Saudi Arabia, is
tendering packages of projects. One of those
packages comprises building a phosphates city with
a total value of USD 7 billion. SADARA, a joint
venture between Saudi Aramco and Dow
Chemicals, will be the largest petrochemical
complex in the world by 2015. Many international
companies have already been established or are in
the progress of setting up a subsidiary in the Northeastern part of Saudi Arabia. Farabi petrochemical
has decided on setting up a USD 1 billion
petrochemical plant in Jubail Industrial Zone.
Key players in the Saudi market compete to build
new residential complexes to accommodate the
growing numbers of expats joining these new
projects.
The construction of new rail road’s connecting the
industrial hubs in Jubail with other locations in the
Eastern Province is progressing as planned. As a
result of these vast projects, the demand on
housing facilities is having a significant effect on
real estate, creating lots of development
opportunities and projects.
The lack of qualified local staff has created demand
for technical training facilities in order to handle
larger projects. The limitations on approving visas
remain a challenge for many local companies, but
since the customers are government or semigovernment entities they manage to soften these
limitations to great extents.
International shipping companies are also
expanding their operations in the Eastern Province
as they notice the fast growing demand on
container and bulk shipping. Some engineering
companies have relocated their head offices to the
Jubail area to be geographical closer to their clients.
With an estimate of USD 76 billion total
investments in different business areas, Jubail
Industrial Zones provide huge potential for
international companies within almost all types of
industrial business interested in doing business in
Saudi Arabia.|BN
Novo Nordisk Invests in Egypt to Fight Diabetes
On the 24th of September the Danish
pharmaceutical company Novo Nordisk signed an
ambitious collaboration agreement with the
Egyptian Company for Production of Vaccines
(EGYVAC) under the auspices of the Egyptian
Ministry of Health to start the production of high
quality human insulin and improve the diabetes
treatment in Egypt.
Mr. Mads Bo Larsen, Vice President of Novo Nordisk, shaking hands
with Dr. Adal Adawy, Egyptian Minister of Health. In the background is
Dr. Ibrahim Mahleb, Prime Minister of Egypt, and Ms. Pernille Dahler
Kardel, Danish Ambassador to Egypt.
Novo Nordisk is one of the largest insulin producers
in the world and has been a leading figure in the
diabetes pharmaceutical market, since it launched
the world´s first human insulin in 1982. The Danish
pharmaceutical company have been fighting
diabetes in Egypt since 1952 and with the new
agreement, which was signed in the presence of
the Egyptian Prime Minister Dr. Ibrahim Mahleb
and the Minister of Health Dr. Adel Adawy, Novo
Nordisk further cemented its commitment to the
fight of this disease in Egypt.
The agreement involves cooperation with the
Egyptian Holding Company for Biological Products
and Vaccines (VACSERA) – a daughter company to
EGYVAC – to develop the latter´s facilities for the
production of 3-9 million insulin vials annually in
the initial phase. VACSERA will produce the insulin
under the quality assurance of Novo Nordisk.
Egypt is with its high rate of diabetes occurrences in
dire need of quality treatment for the millions of
affected Egyptians. Therefore, Novo Nordisk will, in
addition to the collaboration agreement with
VACSERA, launch a national diabetes program in
cooperation with the Egyptian Ministry of Health.
As part of the program, 26 diabetes treatment
centres will be established over the next 5 years,
and Novo Nordisk will fund free insulin treatment
for 60,000 diabetes patients.
Investments of this type are just one example of
the opportunities that can be found in an Egyptian
healthcare sector, which is full of potential for
future investment ventures. Egypt has the potential
to function as a link to markets in both the Middle
East and Africa, and it is therefore the hope that
the production facilities of VACSERA, with the
technological know-how of Novo Nordisk, will be
able to export insulin for the surrounding region as
a whole. |BN
INFO: Diabetes in Egypt
th
Egypt is the country with the 9 highest number of
people with diabetes in the world.
7.5 million Egyptians suffer from diabetes, including 1
million insulin users. Only 25% of these are currently
receiving treatment according to the UN.
Diabetes in Egypt accounts for 65,000 deaths
annually – the equivalent to 178 deaths a day.
It is estimated that there will be 13 million Egyptians
suffering from diabetes by 2030.
The Fashion Capital of the Middle East
Beirut, the capital of Lebanon and the fashion
centre of the Middle East. The Lebanese fashion
industry is booming, customers and buyers from
the rest of the Middle East are requesting
international designs, such as those offered by
Danish companies.
level of USD606 million. This is promising
considering the decline in many other economic
sectors that forecasted higher returns for the
Lebanese economy.
The apparel industry in Lebanon is
dominated by foreign brands. In 2013
78% of all items sold were imported,
only the remaining 22% came from
local production.
With great help from its famous designers such as
Elie Saab, Zuhair Mrad, Georges Chakra, and many
other world known designers Beirut is established
as the most trendy and fashionable country of the
Middle East.
The expansion of the fashion sector has been
proportionate to the increasing number of tourists
scouting for designer brands. Most of the fashion
tourists in Lebanon come from the Gulf region, as
Lebanon provides access to international brands
such as Armani, Boss, Zara, H&M, Louis Vuitton and
Chanel.
In a study by BankMed, one of the largest Banks in
Lebanon, it is estimated that the fashion industry
increase grew by 3.9% in 2013, reaching a spending
The demand for fashion in Lebanon mainly
leverages to imports from Europe in particular, as
the local production capacity does not meet the
local demand. Compounded with high production
costs, fierce external competition and low customs
duties on imported textiles and clothing, restrained
the growth of the domestic fashion industry. The
value of apparel imports increased consistently
over the last four years, increasing at an average
annual growth rate of 6% to reach USD473 million
in 2012 of which USD221.3 million are women’s wear (BankMed report, March 2014).
Denmark is a major provider of clothing to the
Lebanese market. Danish brands such as Vero
Moda, Jack & Jones, and Malene Birger are
examples of Danish success stories in the Lebanese
fashion industry. All Danish brands meet ultimate
encouragement to consider Lebanon as a potential
market and to benefit from the Lebanese
community's inclination towards European fashion
and their potential demand for Danish brands. |BN
The Struggle to Obtain Drinkable Water in a Dry Country
The water sector in Kuwait is under pressure, due
to the increasing demand over the past few years.
Kuwait’s 4 million inhabitants have the world’s highest water consumption per capita, a
consumption that is expected to increase in the
future.
It was estimated in 2013 that the consumption of
482.8 liters of water daily per capita in Kuwait was
caused by the growth of the population, not to
mention change in the consumption patterns. This
predicts an increase to 615.2 liters per capita per
day by 2018. To solve the problem that this massive
water demand is causing, the Ministry of Electricity
& Water is building more desalination plants.
Furthermore, the Kuwait government has since
2005 invested more than USD 5 billion in the water
sector.
The first desalination plant in Kuwait
was established in 1953. It was located
in Doha Bmahttin and had a capacity of
4,545 m3 of water per day.
Back in 2010 Kuwait started the construction of
Sabiya distillation plant projects stage 1 and stage
2, and Shuwaikh Reverse Osmosis Desalination
Plant. Kuwait’s Ministry of Electricity & Water has recently awarded a 40-year contract to the French
water company Veolia to build a USD 430 million
desalination plant in Az-Zour, with the capacity to
produce 486.4 million liters a day.
Average annual rainfall in Kuwait is
only 110 millimetres
Kuwait’s total area is 17,820 square kilometres and with nearly 154,000 hectares of cultivable land
agriculture is a major sector. Though the country is
facing challenges with an arid climate and rainfall of
110 millimetres per year. The agriculture water
consumption was estimated to be about 700
million m3 in 2013, and the demand is still on the
rise. It is forecasted that from 2014 to 2018 the
total water consumption in the agriculture sector
will increase approximately 5 % year-on-year. |BN
Solar Panel Producer Taking on the Middle East
With assistance of the Trade Council in Dubai, the
Danish manufacturer of integrated solar panels
Gaia Solar have been established in the UAE and is
now dedicated to capitalize on the many contacts
they have acquired in the country.
Dennis Aarø, Founder,
Gaia Solar
right people it is necessary to have a base in the
country being able to show up for meetings at short
notice.
“Through the first year of the Vitus program we used a week each month
travelling to Dubai participating in
meetings, however, that turned out not
to be the best solution in the long run.” Dennis Aarø, Founder of Gaia Solar
When Gaia Solar decided to enter the Middle East,
it was soon established that it would be with the
assistance of the Trade Council at the Consulate
General in Dubai.
Through the Trade Council, Gaia Solar was chosen
for a Vitus program; a program designed to help
Danish SMEs enter strategically chosen markets
with a fast and effective kick-start. In the Vitus
program, participating SMEs receives assistance
and cooperation with a dedicated commercial
advisor in a selected market – a total of 265 hours
subsidized by 65%.
Dennis Aarø found that if one really wants to
achieve a breakthrough in the UAE and meet the
Also, the title “Founder” on the business card has proved to be a great advantage to Dennis Aarø in
the UAE market. In the Middle East titles are of high
importance, thus, his title has ensured that he
meets decision makers at a very high level.
Furthermore, through his collaboration with the
Trade Council, Dennis Aarø participated in an
export promotion with participation of H.R.H Crown
Prince Frederik and high ranking local
representatives.
In the case of Gaia Solar, the Trade Council in Dubai
has assisted in finding the correct free zone to
establish the company and has arranged meetings
with architects, property developers, and relatives
to the royal family. Through these contacts Gaia
Solar has been connected to projects in the entire
MENA region and not only the UAE. |BN
UPCOMING EVENTS
The Middle East hosts a wide range of
interesting business events in the coming
months. The following is a small selection
of these events.
The Trading and Development Show is the regions
leading event for the training solutions industry packed
with the latest programs, tools and software. Join more
than 2,000 HR professionals and discover the newest
trends and products.
December 08 – 09, 2014
www.terrapinn.com/exhibitions/training-anddevelopment-show
The Arab Water Week is a high-pro¬file international and
regional event promoted to attract decision makers and
water management practitioners and professional
organizations internationally and in the MENA region.
January 11 – 15, 2015
www.acqua.org/events/aww
This fourth edition has chosen the theme “Water, Industry and Green Economy” to demonstrate the complex dynamics between industrial policies and the
fields of water, sanitation and energy.
January 14 – 17, 2015
www.fieldattitude.com
Gulf Traffic offers a unique opportunity to meet more
than 3,000 industry decision-makers, investors, and
buyers. The Gulf Region have committed more than USD
120 billion to infrastructure improvements in the years
to come, and they are constantly looking for new
suppliers, products, and partners.
December 08 – 10, 2014
www.gulftraffic.com
Under the theme “Driving Change, Creating Value” the conference will combine international and regional
experts. Major topics under the theme will include HSE
governance and leadership, professional development,
management systems, behavioral based safety and
developing safety-led cultures.
February 22 – 26, 2015
www.globalhseconference.com
Meet 600 exhibitors and over 60,000 visitors at this
exhibition in Egypt. People from all around the world
participate so that you can see what is going on in the
global tourism industry. There will be information on any
city, region, and country which are of interest to you,
whether it is for business or for pleasure.
January 10 – 13, 2015
www.ittegypt.com
Saudi Power, formerly known as Saudi Energy, is for the
power, solar, water, and lighting sectors. Being one of
the largest energy exhibitions the exhibitors will be local,
regional, and international suppliers and distributors.
May 11 – 13, 2015
www.saudie.energy.com
COUNTRY INDICATORS
The following facts and figures provide an
insight to the economic situation in the
Middle East and North Africa.
USD, Current Prices, IMF Estimate
2013 estimate, CIA World Factbook
BAHRAIN
EGYPT
IRAN
IRAQ
JORDAN
KUWAIT
LEBANON
MOROCCO
OMAN
QATAR
SAUDI ARABIA
SYRIA
UAE
YEMEN
MOROCCO
KUWAIT
Countries are ranked from 1 – 189
based on the regulatory environment.
See more on www.doingbusiness.org
BAHRAIN
UAE
EGYPT
Percentage of population aged 2554. For more countries see
www.indexmundi.com
IRAN
IRAQ
JORDAN
KUWAIT
LEBANON
MOROCCO
OMAN
QATAR
SAUDI ARABIA
SYRIA
UAE
YEMEN
WE WORK FOR YOU
The Danish Consulates and Embassies are ready to assist you with strategic advice and valuable insights of the
Middle Eastern business and political praxis. Please contact our commercial advisors for further information.
UNITED ARAB EMIRATES
Astrid Svitzer Ching Nielsen
Head of commercial section
Energy / Construction
Phone: (+971) 4 348 0877
E-mail: [email protected]
www.fae.um.dk/en
UNITED ARAB EMIRATES
Edith Christmas
Commercial Advisor
Healthcare / Agriculture
Phone: (+971) 4 348 0877
E-mail: [email protected]
www.fae.um.dk/en
UNITED ARAB EMIRATES
Vibeke Ejby Nurgberg
Commercial Advisor
Fashion / Retail
Phone: (+971) 4 348 0877
E-mail: [email protected]
www.fae.um.dk/en
MOROCCO
Reingard Bretéché
Commercial Advisor
Phone: (+212) 537 66 5020
E-mail: [email protected]
www.marokko.um.dk
LEBANON
Ahmad Mahmoud El Loubani
Head of commercial section
Phone: (+961) 197 0804
E-mail: [email protected]
www.libanon.um.dk/en
EGYPT
Engy Basiouny
Head of commercial section
Phone: (+20) 2 2739 6500
E-mail: [email protected]
www.egypten.um.dk/en
SAUDI ARABIA
Ali El-Hadidi
Head of commercial section
Phone: (+966) 11 4880101
E-mail: [email protected]
www.saudiarabien.um.dk/en
SAUDI ARABIA
Safiye Kücükkaraca
Commercial Advisor
Phone: (+966) 11 488 0101
E-mail: [email protected]
www.saudiarabien.um.dk/en
IRAN
Parastoo Sharifi
Commercial Advisor
Phone: (+98) 212 815 5000
E-mail: [email protected]
www.iran.um.dk/en
MEET A COMMERICAL ADVISOR
Get a chance to meet a commercial advisor from the
MENA Region in Denmark and boost your business
opportunities in the Middle Eastern market.
Late November: Two Commercial Advisors from the
region will meet with companies in Denmark. Exact
dates are not confirmed at the time of publishing.
Please contact us to be updated.