< Previous20 C EO M I D D L E E A S T FEBRUA RY 202 1 hat are some of the most exciting opportunities in Egypt right now for Gulf- based companies? Globally, companies have been look- ing to cut costs, especially after the coronavirus pandemic struck. Gulf- based companies can achieve this goal without compromising the quality of their service by relocating some of their departments to Egypt, where the cost of labour is significantly cheaper. They can continue serving the needs of their Gulf- based customers while saving at least 50 percent of the cost. We have successfully W ‘THE MORE WE AID OUR CLIENTS’ GROWTH, THE MORE WE GAIN’ MOHAMED NASSER, FOUNDING PARTNER OF MOHAMED NASSER LAW FIRM, EXPLAINS WHY CULTIVATING LONG-TERM RELATIONSHIPS IS ESSENTIAL WHEN ENTERING NEW MARKETS SPOTLIGHT | MOHAMED NASSERFEBRUA RY 202 1 CEO MIDDLE E A ST 21 What are a few big projects you recently worked on? We handled Aton Holding’s acquisi- tion of Pharos Securities, which was one of the biggest acquisitions in Egypt last year. We finalised the licensing and transfer of ownership for a Dutch company to make Egypt’s biggest ex- perimental station for agricultural seeds, which will be exported across North Africa. We successfully handled the establishing papers of several holding companies in two months – a process that previously would have taken up to six months. One of our biggest deals was finalis- ing the contract for a Colombian com- pany that made a joint venture with the Egyptian government for recycling and garbage collection in Cairo. Regional M&A activity slowed in 2020. What factors do you see driving its recovery through 2021? I believe Egypt took the right decision by not implementing a total lockdown, and as these lockdowns ease worldwide, people will gain a clearer perspective of the future, and the fear that was hinder- ing decision-making in investments or M&A will slowly vanish as things return to normal. Hopefully, widespread vacci- nations will see things pick up quickly. “OUR MAIN USP IS OUR VISION OF CULTIVATING A LONG-TERM PARTNERSHIP WITH CLIENTS” Mohamed Nasser Law Firm has partnered with a UAE-based law firm to help GCC-based companies venture into Egypt for business opportunities, and vice versa sistance they need – as their business flourishes, their business with us will grow. You recently signed an agreement with a UAE-based law firm. Could you give us some more details on the scope of this deal and what it entails? Any client in the UAE that wants to expand in Egypt will get dual assistance from both firms. Our office will handle all their legal requirements for expan- sion into Egypt in collaboration with the UAE office that is physically accessible to them, which will facilitate the process since both firms are knowledgeable about the laws of investment in their respective countries. This is also ap- plicable for Egyptian companies seeking to expand to the GCC. implemented this with one of our Saudi- based clients. As for investments, while Egyptian law used to prohibit ownership of any company assets by a foreign individual, this is no longer the case. Now, as a foreign investors, you can own any com- pany asset, including but not limited to land, buildings and factories. This is particularly positive for investments in the agriculture, industrial and real estate development sectors. What are a few USPs for Mohamed Nasser when it comes to helping for- eign investors enter Egypt? We take pride in our speed of get- ting tasks done. All specialisations are available in our firm, and above all our main USP is our vision of cultivating a long-term partnership with clients, not one-time deals. The more we aid their growth, the more we also gain. I consider myself their partner, not their lawyer. The bet- ter they do, the more it reflects posi- tively on all of us. Which Egyptian start-up sectors saw the biggest growth through 2020? With people spending so much more time on their phones and looking to minimise human contact, online shop- ping and mobile apps offering all kinds of services saw the biggest boom. Many of these businesses managed to secure funding and round foreign investors to invest in their start-ups. Also, many restaurants opted to create their clients’ favourite dishes in a frozen line for home delivery – a necessary move on their part to stay afloat while people are un- able to physically go to restaurants. From our side, to cope with the coronavirus’ effect on businesses, we created an entirely new department for start-ups with revised fees so that we could all get through the rough phase together. We want to start with them and give them all the required legal as-22 C EO M I D D L E E A S T FEBRUA RY 202 1 THERE IS NO DOUBT THAT THIS week’s re-opening of borders between the Gulf nations and Qatar will lead to a renewed surge in business across the region. The reopening with Qatar is an outstanding development at the right time and it shows the amazing vision and tolerance of the rulers of the region and how they’re able to see beyond political issues for the benefit of the greater good. It’s a clear signal for economic diplomacy and a chance to stabilise the post-Covid economy. T WHY OPENING QATAR’S BORDERS IS GOOD FOR BUSINESS RAPHAEL NAGEL, FOUNDER OF THE ABRAHAMIC BUSINESS CIRCLE, LOOKS AT THE ECONOMIC BENEFITS OF THE ALULA ACCORD BUSINESS | RAPHAEL NAGELFEBRUA RY 202 1 CEO MIDDLE E A ST 23 A lot of business has always been done between Dubai, Qatar and the rest of the world. Many of my clients would fly from Dubai to Qatar for dinner and come back the same evening so there has always been a huge link between the UAE and Qatar’s business communities. Before the borders closed, around 10 percent of Dubai’s tourists were Qatari, so not least in the wake of a devastating pandemic which has hit the tourism industry hard, this is set to grow significantly. The World Cup in 2022 is going to be an extension of this and in turn, it will benefit Dubai and the UAE. Firstly, the event will attract huge numbers of tourists to Qatar but as one of the logistics hubs of the world, will also benefit Dubai and the UAE. The collateral benefit means people will come here before or after the World Cup as either a stopover or connecting destination. Qatar is very small but very wealthy, so there is still a lot of demand for a lot of products and services, for example, there was a moment when Qatar was giving incentives to companies just to come and set up in Qatar. The other businesses to benefit will be trading, from food to essential items. I also believe that there will be new logistics projects. Covid was a hard time for the logistics sector so having a reopening with Qatar will offer new plannings so, for example, the airlines of the region - Etihad, Emirates and Qatar - can operate more jointly, saving costs and allow more collaboration to take place to help make up for the aviation losses of 2020. The UAE has had a very unusual innovative healthcare policy which has shown incredible results. Compared to European countries, it’s become a model for the world. Many Europeans wish to be here, where we have maintained a much better quality of life in spite of the pandemic. It’s certainly made it very attractive to investors and the reopening is a clear sign that we are getting closer towards a common market. We’ve seen the challenges and opportunities from Europe’s common market so we can learn from that and improve. Moving forward, it could be the start of a more peaceful era too, paving the way for better relations with the likes of Israel. This is a new and more positive era. We are already having applications to the Abrahamic Business Circle to join us, seeing the benefits of this time in which we are moving towards greater collaboration and strength as a common market. The future now depends on economic diplomacy. If we can solve these relationships, it will be an outstanding future for the region. GCC united Business leaders in the Middle East have hailed the AlUla accord as a positive step for the region “MOVING FORWARD, IT COULD BE THE START OF A MORE PEACEFUL ERA TOO, PAVING THE WAY FOR BETTER RELATIONS” “IT WILL BE AN OUTSTANDING FUTURE FOR THE REGION” 2.5% The projected growth of the Gulf region’s economies this year, according to the IMF24 C EO M I D D L E E A S T FEBRUA RY 202 1 LEADERSHIP INSIDE THE MIND-SET OF A CHAMPION “It was exciting to be back in Dubai and playing on the European Tour, which I had not played for a while because of everything that has been going on; it was good to be back and get going and keep the momentum,” reflects the Spanish professional golfer who has FOCUSED ON WINNING PRO-GOLFER SERGIO GARCIA, WHO FINISHED 6TH IN THE 2021 OMEGA DUBAI DESERT CLASSIC, REVEALS HIS CHAMPION’S MIND- SET, A RELENTLESS APPETITE FOR SUCCESS THAT HASN’T BEEN DAMPENED IN A CAREER SPANNING MORE THAN 20 YEARS BY JOLA CHUDYFEBRUA RY 202 1 CEO MIDDLE E A ST 25 “DURING HIGH PRESSURE MOMENTS THE MOST IMPORTANT THING IS TO CONTROL YOUR BREATHING, AND BE AS POSITIVE AND AGGRESSIVE AS POSSIBLE. WHEN YOU MANAGE TO DO THIS, IT IS FUN. THERE IS PRESSURE, BUT THESE ARE THE MOMENTS WE PRACTICE FOR” and Europe as their ambassador is very special. I enjoy the longstanding rela- tionship and love the watches.” Ever the champion focused on the prize, he says that despite the chal- lenges of the past year, he holds on to an internal drive to keep performing to his fullest potential. “At the end of the day, we are competitors, and we love playing golf. Yes, I have a family now and my goals have shifted a little bit in terms of what is important, but it doesn’t mean that when I am out there I don’t want to do my best. I always try to be better and that competitiveness is always there. As long you have that inside, you will always keep trying. During high pressure moments the most important thing is to control your breathing, and be as positive and aggressive as possible. When you manage to do this, it is fun. There is pressure, but these are the moments we practice for.” Swinging into it. Sergio Garcia shot an opening-round 66; the returning champion says the tournament is one of his favourites before later going on to win that year’s Masters, spent some of his time in Dubai familiarising himself with the course and preparing to compete. Play got underway January 28 and Garcia was joined for the opening two rounds by Ryder Cup teammate Tyrrell Hatton and American star Collin Mori- kawa, who is making his OMEGA Dubai Desert Classic debut. Garcia has been a brand ambassador for the titular spon- sor of the event for 20 years, making the event particularly close to his heart. “Golf, like watches, is about consist- ency and accuracy and Omega and I have had a great relationship together and winning the tournaments in Dubai won 36 international tournaments during a career spanning more than two decades. Garcia won the Dubai Desert Classic as an Omega ambassador in 2017; past champions include Tiger Woods, Seve Ballesteros, Ernie Els and Rory McIlroy. In 2021, the returning champion finished T-6 at 9 under alongside Padraig Har- rington and Bernd Wiesberger. Garcia tells CEO that despite fall- ing ill to Covid-19 himself, he kept a relentless focus on training as much as possible during the lockdown, and tried to remain upbeat and philosophi- cal about missing The Masters due to testing positive for Covid-19 himself in November 2020. “The timing was unfortunate, with- out a doubt, but we knew it was a risk. I missed the Masters but it is just one of those things that happens. Luckily my wife and I both recovered nicely and nothing happened to our family. It’s the reality of the world we live in; you just have to be careful, take care and keep practicing.” Garcia spent most of lockdown in Austin, USA, acknowledging that it “wasn’t too bad… I was able to keep prac- ticing and played a bit on the US Tour.” Speaking fondly of the Dubai Desert Classic, he says: “This is obviously a course that I enjoy and I like playing – and I’ve done well here in the past which definitely can help. This year has been a big year with a lot of big tournaments to be played with The Ryder Cup, the Olympics and the Majors. Everyone knows how much I love The Ryder Cup and I would love to be a part of a few more - and that’s obviously one of the biggest goals of the year for me.” Garcia, who held off Henrik Stenson to win the event by three strokes in 2017 “DURING HIGH PRESSURE MOMENTS THE MOST IMPORTANT THING IS TO CONTROL YOUR BREATHING, AND BE AS POSITIVE AND AGGRESSIVE AS POSSIBLE” 26 C EO M I D D L E E A S T FEBRUA RY 202 1 BREEDING SUCCESS MOHAMMED SHEIKH SULIMAN IS AN ENTREPRENEUR MAKING BIG WAVES IN EQUESTRIANISM. THE YOUNG ENTREPRENEUR HAS MADE AUDACIOUS MOVES IN BUSINESS TOO, AND HIS AL SHEIKH STUD HAS ENJOYED AN UPWARD TRAJECTORY SINCE ITS ESTABLISHMENT IN 2016. UNITING BIG AMBITION WITH AN UNSHAKEABLE QUEST FOR QUALITY AT EVERY STEP, HIS HORSES HAVE WON AWARDS AT THE GLOBAL LEVEL BY JOLA CHUDY COVER STORY | MOHAMMED SHEIKH SULIMANF E B R UA RY 2 0 2 1 C EO M I D D L E E A S T 27 HEN YOU START YOUR entrepreneurial journey in high school, it’s usually a safe bet to say that being a businessperson runs through your veins. For Moham- med Sheikh Suliman, his first business was also the first step to a path that has seen him established as one of the equestrian world’s ‘one to watch’ faces, an angel investor and a serial entrepre- neur skilled at identifying and seizing opportunities to invest, grow and build businesses in an array of industries. Born and raised in Israel, the young Arab grew up around horses and is a dedicated philanthropist. Why did you start a horse stud? From a young age, I used to spend time my grandfather who introduced me to his Arabian horses. It was since then that my love for Arabian horses started. My siblings and I were raised with horses in our lives. I credit this to our family’s religious beliefs too, since Prophet Muhammad (Peace be upon Him) also directed Muslims to learn the skill of horse riding by saying, “Learn to ride.” So the idea of having a stud of my own is something that was always in the back of my mind, and it became reality as soon as I became financially able to make it happen. W The stud has received several high- profile accolades, how important are these to you? I always describe accolades as the final score in your exams. When you study and do your best, you earn the results and pass the exam. This is exactly the same with what goes into working with horses. You look after them, train them, and work hard in order to see your efforts pay off. The accolades we receive for our achievements make me happy, but I also feel an immense sense of gratitude when I look at these beautiful creatures, seeing the efforts we put into them. Our goal, of course, is not just to gather titles or awards for Al Sheikh Stud, but to leave a legacy for years to come, whereby the stud might leave its mark in the future of the Arabian horse breed. Where does your entrepreneurial drive come from, is it something you grew up with? I started working at a young age. Not many people know this, but I come from a humble background, a middle class family with four brothers. We had our fair share of challenges and obstacles, but ever since childhood, I have been a bit obsessed with business. As far back as I can remember, I wanted to start something of my own. I used to come up with different ways to generate my own money as a child, making pocket money for myself. I am competitive and I like to be the first in everything I do. I freely admit that being number one is my number one motivation for everything! If all goes well, where do you see it going in the next five years? The next decade? With God’s will, and if every- thing works as planned (with both our parent company and other companies), we hope that “OUR GOAL, OF COURSE, IS NOT JUST TO GATHER TITLES OR AWARDS FOR AL SHEIKH STUD, BUT TO LEAVE A LEGACY FOR YEARS TO COME”COVER STORY | MOHAMMED SHEIKH SULIMAN 28 C EO M I D D L E E A S T FEBRUA RY 202 1 being a seasoned leader. What do you look for in your projects? Whenever I measure an opportunity I always check it thoroughly, ask ques- tions and study it overall. Back when the company used to be much smaller, in the next five years we would be rated as one of the Middle East’s top com- panies. These upcoming five years are going to be crucial and essential for our growth, but we believe it’s the perfect timing for us to expand internationally and worldwide. How do you tackle challenges in your day-to-day life? Every business faces daily challenges. As we know, the bigger the business, the tougher the problems and challenges it faces. While you must be positive and work hard, in order to overcome challeng- es you must be prepared for the worst. I believe the universe was built on challenges. When it comes to my personal definition of a strong person, I don’t think it’s someone who never loses, but rather one who never surren- ders or stops trying. The winner, after all, is someone who develops a resilience capacity which enables them to cope effectively with unexpected events, to bounce back and foster future success. Philanthropy and CSR are key pillars for you – how do you integrate these into your organizations? I like to believe that philanthropy is a moral obligation. It personally means a lot to me. While every act of kindness should stem from a selfless place, the advantages cannot be ignored. Not only will giving help your com- munity, but it will nourish your personal growth, build a great reputation for you and your brand, bring about good karma and inspire others to follow suit. My donations come from religious mo- tives as well, as I believe that God blessed me with my wealth because He knows I will put my money in the right places and for the right causes. And that’s what I’m currently doing and will keep on doing. Angel investing is one of the most exciting and rewarding aspects of most of the decisions were just mine. I used to depend 50% on lawyers’ opin- ions and economical consulters and the other half was based on my intuition. But nowadays, whenever I’m interested in any type of projects especially as an angel investor, I listen mainly to my intuition and inner voice that would make the last call. During the past year, the world has changed irrevocably. What changes did you have to make to how you conduct business, and what is your 20 Stallions and mares Owned by Al Sheikh StudF E B R UA RY 2 0 2 1 C EO M I D D L E E A S T 29 outlook for the coming year? I totally agree, it seems that the entire business world shifted to online very swiftly, and rightfully so since it offered an immediate solution to the many new challenges raised by the current crisis. I think it is important, as a leader, to stop and ask myself how this crisis helped us learn in our organisation. A key lesson for us, and many others, was to realise how vital the ability to adapt quickly to change really is. It was important before the pandemic, but to be adaptable, whether in technologi- cal changes, management structure or strategy, is vital. Personally, I believe that many of the changes we have seen have changed our lives irrevocably. At Al Sheikh group, we had already made several changes before facing this pandemic and these helped us to be ready as luckily we had invested in online solutions at the very beginning of this crisis. Young leaders often face slightly different challenges to older ones; what have been some of yours and how did you overcome them? The fact that I’m called a young entre- preneur is a challenge in itself, and it might not be that easy to convince older entrepreneurs or a company you are dealing with, that you are capable and mature enough to handle serious work. This is because there is a common stereotype that youngsters are not reli- able or efficient enough to lead projects. I can’t deny that today’s young leaders lack experience, dedication and many quali- ties that old entrepreneurs possess. Today, one of the biggest challenges to any brand is to know how to differen- tiate yourself and be unique. I am younger in terms of years of ex- perience and I know that seasoned busi- nessmen and women can help younger leaders navigate their new responsibili- ties, build on their management skills, and avoid difficult situations. Mean- while, our generation is uniquely skilled to make it easier to swiftly find innova- tive solutions that save time. Where do great ideas come from in your organization? I won’t take the credit for that! Al Sheikh Group has an outstanding team that is full of energy, creativity and productivity. I owe them a lot of credit for the progress we’ve made over the past few years. Al Sheikh Group’s board comprises a line-up of experts and specialists, con- sultants who are specialised in different fields and can be credited for contribut- ing to the success we enjoy today. I dedicate most of my ‘think- ing’ time to critical thinking and coming up with new, in- novative ideas. My energy and focus goes towards constantly making improvements to how we operate, I think this is a key reason why we keep a step ahead and succeed. When it comes to encourag- ing creative thinking in my team, I like to encourage my em- ployees, from the newest to the most experienced, to take part in daily feedback that covers any problems, looks at new ideas, and any improvements we could implement in the company. It could be about what area we could do better in, and what Riding high Mohammed Sheikh Suliman wants to leave a lasting legacy with his equestrian business and his philanthropic endeavours Winning formula. The company has won more than 25 global awards since it was founded in 2016 “TO BE ADAPTABLE, WHETHER IN TECHNOLOGICAL CHANGES, MANAGEMENT STRUCTURE OR STRATEGY, IS VITAL. I BELIEVE MANY OF THE CHANGES WE HAVE SEEN HAVE CHANGED OUR LIVES IRREVOCABLY”Next >