Operating in the region since 1923, EY’s Middle East and North Africa practice employs over 6,000 people across 20 offices and 15 countries, making it the largest professional services firm in the region. Bishr Baker, Managing Partner of EY Jordan and Iraq, provides insight on the unmet potential in exporting Jordan’s business services.
What competitive advantages has EY observed in Jordan?
Jordan is a more service-oriented economy than an industrial one. There are strengths in terms of human capital, education and healthcare, as well as in other specific areas. For example, the ICT sector is strong with regards to software, but not hardware. Many regional and global service companies originated from Jordan.
What synergies exist between Jordan and Iraq?
Iraq holds a large pent-up demand, not just for imported goods but also for value-added services. Iraq’s financial services, legal, healthcare, logistics and education sectors all must be rebuilt. Jordan is home to many strong companies operating in these sectors, yet, even during periods of regional political stability, we have never really fully cooperated with Iraq to the benefit of both countries.
How can EY support clients looking to cooperate with Iraq?
We have been in Iraq since 2004, and we are proud employers of many Iraqi nationals. EY knows how the market operates, what is required legally, and what is needed to start operations. We can find the right people to partner with, advise on how to diversify, or form joint ventures with local players.
Why is EY Jordan an ideal consultant?
We’re the best-placed professional firm in Jordan and Iraq, with over 390 people and 12 dedicated partners overlooking all of our core services, such as assurance, tax, advisory and transactions. No other firm in Jordan or Iraq has that scope. We are also highly specialized: EY has four assurance partners, two tax partners, four advisory partners, and two transaction partners, making us uniquely capable of addressing our clients’ diverse needs.