UAE - A Land Of Opportunity Says ACWA MD
18 October 2010, News release from ACWA Services
ACWA Services managing director Peter Ripley urged delegates at the prestigious World Hi-Tech Forum in the United Arab Emirates this week to take advantage of the unique opportunities that the region has to offer for entrepreneurial companies with excellent products and services to offer.
Mr Ripley told the delegates: 'While the market is to an extent constrained by the economic downturn, the background need for sustainable and efficient water and wastewater solutions means that for those that can meet the region's high expectations, there are significant opportunities.'
The aim of this high-level, invitation-only forum was to encourage UK-UAE partnerships for investment and entrepreneurial activity, and to underline how high-tech can and does contribute to economic diversification. In particular, the event explored opportunities to enhance the role of UK business in further integrating the UAE into the global economy.
Mr Ripley's speech outlined the challenges that the region faces. He told delegates: 'The Middle East as a whole faces considerable water and environmental challenges, and the scale and required pace of development mean that water is a key area that is receiving special focus from governments across the entire region.'
He also stressed that these challenges, while considerable, represent significant market opportunities, noting: 'Environmental and health hazards surrounding the disposal of untreated effluent, marine pollution and deteriorating ground water quality are seen as not only key challenges but market opportunities in the region.'
Citing a recent market commentary on the economics of the UAE market, Mr Ripley added: 'The report suggests that the onus is on technology providers to produce increasingly cost-effective products in challenging market conditions.
'However, the potential benefits of success are considerable - the region is set to spend more than $120 billion on water investments in this decade, which experts believe is required to avoid severe water shortages by 2050.'
Outlining the various trends in the region, as well as ACWA's considerable success as a partner in many high-profile, landmark projects, Mr Ripley concluded: 'An Arab water security strategy is due to be debated in December, aimed at embedding sustainable development for the region to meet the demands of its economic and commercial development.
'The message from the various interlinked initiatives is clear: companies that can provide high quality, sustainable solutions and services at an attractive cost, tailored to the exacting requirements of the region, will continue to find this an exciting market despite the economic downturn.'
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