“More and more, foreign companies are looking towards the Middle East as a lucrative market for establishing joint ventures as a viable option to grow their business,” he said.
Joint Ventures were the focus of the Bahrain British Business Forum’s (BBBF) regular monthly luncheon at the event held at the InterContinental Regency Hotel.
In addition to guest speaker Clive Hopewell, Head of leading British law firm Charles Russell’s Middle East office and the BBBF’s legal Special Interest Group, the event also featured the three Chelsea Pensioners currently visiting Bahrain in cooperation with the BBBF as guests of honour.
In his presentation, Hopewell gave audience a brief overview of joint ventures, including when and why to establish a joint venture, its various types, and the key elements and considerations involved minimizing risk.
Partnerships between state enterprises and private businesses are a particular feature of the Middle East. According to a report prepared by KFH Research Limited in 2011, a subsidiary of Kuwait Finance House, highlighted that the UAE and Saudi Arabia represent the largest markets for partnership models between public and private sectors in the region, particularly in the energy and water project industries.
Over 50 such contracts relating to partnerships between the two sectors were signed in the Gulf since September 2010, with such projects requiring investments of more than $60 billion.
The BBBF encourages membership from all strata of Bahrain’s business community, and welcomes anyone to join the group by contacting the BBBF office at the British Embassy.