MBI International to work closely with Austria to leverage business opportunities

During a recent meeting in Vienna the 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.

Speaking on the occasion, Sheikh Mohamed said: "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. 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." MBI International acquired among other investments, the famous Grand Hotel Wien, one of the hubs of Viennese social and intellectual life since the middle of the 19th century, from Nippon Airways in 2002. It is currently managed by JJW Hotels, part of MBI International.

Sheikh Mohamed said 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. However, having built highly successful operations, 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.

Sheikh Mohamed has been an active promoter of reform in the region for many years notably in the field of education. His philanthropic work, which now involves international bodies such as UNESCO, is executed under the auspices of the UK registered charity, MBI Foundation that provides scholarships for Arab students at European universities.