Business Entrepreneurs in the Emerging Competitive Economies of the Middle East

Sept. 14, 2009 - PRLog -- When one thinks of Middle Eastern economics, they may immediately be inclined to think of oil and agriculture.  While those two sectors have and continue to hold prominent roles in the economies of the Middle East, more is going on there than meets the eye.  Political and economic modernizations have taken shape in emerging markets like Turkey, Israel, and Egypt and continue to spread throughout the region.

One of the countries that are making some of the most notable strides is Jordan, whose economy has been growing at an annual rate of 7% for a decade, even during the recession-plagued years of 2008 and 2009.  Reforms in Jordan’s education and economic structures have paved the way to a knowledge-based economy that features one of the most developed and competitive IT sectors in the Middle East.  The West has taken note of this as Google recently became a member of the Information Technology Association of Jordan and is seriously considering making the kingdom the heart of its Middle Eastern regional centre.  Additionally, with its vast sunny deserts and favourable winds providing 2.5% of its energy, Jordan has become a global leader in creating innovative solar energy technologies.  

Not to be overlooked in the technology race are the traditional powers of the Middle Eastern economies: Saudi Arabia, Egypt and the United Arab Emirates (UAE).  The UAE has jumped into the technology age forcefully as their telecommunications market has shown tremendous growth as of late, mainly propelled by government initiatives aimed at the deregulation of the market and encouraging open competition.  The Egyptian information and communications technology sector has been growing significantly since it was separated from the transportation sector and Saudi Arabia continues to be a lucrative market for technology products and services while also being one of the most attractive destinations for healthcare professionals in the world.

Traditionally in most Middle Eastern business partnerships, investors have dictated the day-to-day management and activities (often known as Mudarabah - http://www.middleeastinvestmentnetwork.com/mudarabah system), which some have argued limits an entrepreneur’s growth possibilities.  Recently, new industry policies implemented throughout the region have allowed entrepreneurs more creative freedom and have encouraged an influx of new talent to hit the market with hopes of establishing the next big business.  Entrepreneurs and investors alike are now looking to take advantage of a rapidly expanding market by setting up new companies that can generate new opportunities for all Middle Eastern countries at home and abroad.  That’s why it is important to have online forums like the Angel Investment Network that enable new entrepreneurs to present their ideas in commerce and technology to potential investors who have the resources that can help turn a small start-up company into a global enterprise.

More information on the Middle East branch of the Angel Investment Network is available at http://www.middleeastinvestmentnetwork.com/

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The Angel Investment Network currently includes a wide range of International investors looking for investment opportunities, along with entrepreneurs in the Middle East looking to get their business off the ground.