The Middle East Opportunities Abound Cultural UnderstandingBuilding RelationshipsResearch & ConsultancyCultural Conduit.

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Presentation transcript:

The Middle East Opportunities Abound Cultural UnderstandingBuilding RelationshipsResearch & ConsultancyCultural Conduit

Welcome January, 30, 2009 Ahlan Wa Sahlan Salaamu Alaykum Marhaba

The Future Serious economic challenges + Incredible Growth in the Middle East = Immense Opportunities. The Middle East Opportunities Abound

January, 30, 2009 From 1990 to the present, the ever- increasing skyline of Dubai tells the story of growth. Doing Business In the United Arab Emirates The Middle East Opportunities Abound

…half of Wall Street left for the Middle East to wait out the storm… The Middle East Opportunities Abound

Vision, Transformation, and Economic Growth The Middle East Opportunities Abound

Source: IMF World Economic Outlook: Econstats; Ministry of Economy Vision, Transformation, and Economic Growth The Middle East Opportunities Abound

Source: UAE, Ministry of Economy

Vision, Transformation, and Economic Growth The Middle East Opportunities Abound Vision, Transformation, and Economic Growth The Middle East Opportunities Abound Source: UAE, Ministry of Economy

Vision, Transformation, and Economic Growth The Middle East Opportunities Abound

MICHAEL LLOYD Vice President, Unique Image, Inc. Editor-in-chief, ALO magazine Director, ALO Cultural Foundation Driven to build a business that would be the conduit and bridge between the U.S. and the Middle East.

Trade Relations Cultural Exchanges Ethnic Marketing Business-to-Business Programs Press Delegations Charitable Missions Qatar Dubai Oman Bahrain

Three Essentials 1. Knowledge and understanding of the market. The Middle East Opportunities Abound Source: Dubai Strategic Plan 2015

Three Essentials 1. Knowledge and understanding of the market. The Middle East Opportunities Abound Source: Dubai Strategic Plan 2015

Doing Business In the United Arab Emirates Three Essentials 1. Knowledge and understanding of the market.

Three Essentials 2. Respect towards the culture and its practices. The Middle East Opportunities Abound Middle East Business Culture Overview ~ In most countries Women usually dress conservatively and modestly. ~ Meetings can run late and result in postponements. ~ Business visitors are expected to be punctual for all appointments. ~ In meetings, it is rude to refuse tea or coffee, food. ~ Never ask about a man's wife. ~ Offerings (business cards/gifts) should be offered with the right, not left hand. ~ In many countries Government offices open Sat-Wed and close at 1-2 p.m. for the day. ~ Businesses close from 1:00 p.m. until 4:30 p.m. when they re-open for several hours.

Three Essentials 3. Loyalty, integrity and win-win business vision and expectations. Doing Business In the United Arab Emirates “As we support, watch, and encourage reforms in the region, we are mindful that modernization is not the same as Westernization.”

Common Vision in Raising Economic Growth and Successful Societies Doing Business In the United Arab Emirates ~Invest in the health and education for all, ~Privatize economies and secure the rights of property, ~Support innovation without sacrificing culture, and ~Following the rule of law.

Examples of Incredible Economic Growth The Middle East Opportunities Abound Bahrain Dubai Morocco Oman and Lebanon Jordan Qatar Dubai The Middle East Opportunities Abound The Middle East Opportunities Abound

Brick Walls and Barriers ~Lack of proactive communication ~Reaching the right individual / entity ~The value of research ~Networking effectively ~Paving the roads for business-to-business dealings ~Inefficient tracking system ~Confidentiality issues Obstacles to doing business in Dubai The Middle East Opportunities Abound Obstacles to doing business in Dubai The Middle East Opportunities Abound Obstacles to doing business in Dubai The Middle East Opportunities Abound

Unique Image Inc MBITA Triangle Relationship of Unique Image, Inc., Dubai Chamber, and the Economic Alliance DCCI The Key The Middle East Opportunities Abound DUBAI

Building Relationships The Middle East Opportunities Abound

S AR Building Success in the Middle East requires S-R-A

The Middle East Opportunities Abound Thank you!