Leading international classification society and certification body Det Norske Veritas (DNV) is beefing up Middle East and India staffing levels to 1,000 within two years to meet increasing demand for its services.
Increasing appreciation among Middle East companies of the need to address risk management issues is helping fuel the growth. DNV currently has just over 220 staff in the Middle East, growing by 20% a year.
“When we consider the Middle East and India together, we will have a workforce of about 700 by the end of this year," said Eivind Grostad, senior vice president and regional manager for DNV Maritime. "Looking further ahead, we aim to have 1,000 employees by 2010 to service our clients.”
Grostad said DNV’s business in the region is “very good and growing very fast." He added: "Among our core operations, the maritime business is surging ahead, offshore activities are growing at a steady pace and the industrial certification, training and risk management business is on the increase."
DNV recently announced revenues for the Middle East alone in 2007 totaled $38 million, up 33% on 2006 levels, with maritime accounting for 61%, energy for 25%, and other industries representing 14%.
“Basically, our business is to manage risk," Grostad added. "We do this by certifying the quality and safety of processes and products in the shipping, oil and gas and manufacturing industries.”
Grostad said risk assessment and management are areas becoming increasingly significant in the region with tighter industry regulations and the increasing importance of environmental protection and corporate responsibility.
“The environment is changing fast and there is increasing appreciation and understanding of risk management issues and more and more companies are coming to us for help,” he added.
“Business is going well, but there is much more to be done so we are increasing our commitment to the region as more and more clients are expanding their businesses in this booming economy."
