Austria is to work closely with MBI International, a three billion dollar multinational with strong interest in the Middle East and Europe, with a view to leveraging business opportunities for Austrian corporates in the Arab world.
During a recent meeting in Vienna, Austrian President Thomas Klestil spoke to MBI International's Chairman Sheikh Mohamed Bin Issa Al-Jaber about support for domestic companies viewing the commercial potential of the region. Specifically they discussed ways in which MBI International could support Austrian investment in Iraq.
"Austria sees immense potential in terms of its domestic companies being able to add value to regional economic growth and help promote greater global integration," said Sheikh Mohamed. "MBI International is perceived as being particularly well placed to support these kind of initiatives given that it already has extensive experience in the region and investments here in Austria."
Sheikh Mohamed added that having operated both in European and Middle East markets for over 20 years, he was eager to share his experiences with Austrian corporates and support their positive contribution to regional development. "I am a firm believer that Iraq is the source of much regional strength and that we must work collectively to bring the country's true potential to fruition."
Sheikh Mohamed said he was also interested in expanding MBI International's operations in Austria especially in the hospitality industry. The company now owns three properties in Austria with the Grand Hotel and the Amarante Hotel also in the capital city. "We are looking to expand our chain in Austria, Vienna through further acquisition activity and are also exploring other investment possibilities in other sectors."
MBI International operates in fields as diverse as agribusiness, hotels and resorts and construction. Sheikh Mohamed, a self-made Arab entrepreneur, is now focusing his efforts on less commercial activity in the region including conflict resolution initiatives and moves to support sustainable development. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
