July 14, 2010
Middle East, maybe like no other region, has very few things in common with the rest of the world when it comes to economical interdependency. The main link is the oil market but oil industry is at the same time the strong and the weak point.
In the last decades, many of the Middle East countries tried to diversify their economies and we have witnessed huge changes. We can mention here the strong tourism and infrastructure development in countries like Qatar, Egypt and especially United Arab Emirates that is trying to impress the world with the tallest buildings and most luxurious hotels. The strategically shifting from extracting to refining Bahrain is showing, or even the idea of the United Arab Emirates to become a financial hub, in Dubai. Not to mention the impressive development of Turkey and its aim to be part of the European Union. If they will succeed or not, the future will tell us but there is one sure thing: many industries are rising and developing even if the political situation is not clear in some of the countries and sometimes not stable at all in the region. Manufacturing and Industry, Transport, Logistic, Telecom, Real Estate and new technologies like Biotechnology or Renewable Energy Industries are seeding new business roots in the oil fields. You can find a description of Middle East economies here but be aware that the local reality is in a continuous metamorphosis. Most importantly many business investors are rising, slowly but with determination.
Emerging markets offer a high risk but also a good potential for investors and some of the investment groups already making the first steps and they are planning the next ones. If you are looking for venture capital firms and funds in the Middle East, you need a “local touch”, someone with the same cultural background and language. You can find a list of potential business partners here. They are all eager to develop businesses, to invest or to turn their oil money in white or green technology.