Abraaj Capital supports first meeting in the UAE of the Arab Business Council

This is the first-ever UAE Annual Meeting of this extraordinary group of regional business leaders.

"The Annual Meeting of the Arab Business Council is a signal event for both the UAE and the wider region," said Frederic Sicre, Executive Director of Abraaj Capital, the leading asset management firm in the Middle East, North Africa and South Asia.

"The ABC is led by 100 private-sector leaders from across the Middle East, who share the goal of creating a more competitive economic environment - and, even more fundamentally, creating jobs for the millions who are out of work or unemployed. At Abraaj Capital, we share these goals, which is why we are so pleased to support this key event in addition to our membership to this highly exclusive network.

"There is a clear need to forge stronger partnerships between the region's public and private sector, and this will be very high on the agenda at the Annual Meeting," added Sicre, who formerly served as Managing Director of the World Economic Forum and was instrumental in the creation of the ABC, which was launched in 2003.

He added: "Middle East business leaders need to share ideas, strategize and form a common blueprint for the future. The Abu Dhabi meeting will serve as just such a platform for frank and open discussion, and the attendance of such high-level Arab business and political leaders from across the region is a clear signal to the community of the importance of this meeting among national and regional decision-makers."

The World Economic Forum's 2006-2007 edition of "The Global Competitiveness Report" will be discussed during the Abu Dhabi meeting, which will be chaired by Egyptian businessman Shafik Gabr of Egypt. Among those representing the UAE at the meeting is Sheikh Khaled bin Zayed Al Nahyan, Chairman of the Bin Zayed Group who also serves as executive committee member of the ABC."

Of special note, former ABC members have gone on to be appointed to ministerial level in government in Jordan, Egypt, Morocco and the UAE. Nominations of former ABC members include: Amr Dabbagh, as Governor of the Saudi Arabian General Investment Authority; Rachid Mohammed Rachid, as Minister of Foreign Trade and Industry of Egypt; Sheikha Lubna Al Qasimi, as Minister of Economy and Planning of the UAE; Sharif Ali Zu'bi, as Minister of Industry and Trade of Jordan; and Mohammed Mansour as Minister of Transport of Egypt.