US firm plans big investment in ME, Asia
Washington, October 30, 2011
An US company is planning to enter the Middle East and Central Asia region in a big way through direct investments in the region, mainly in Iraq.
North America Western Asia Holdings (Nawah), set up by former Silicon Valley executive and US government official Paul A. Brinkley and American businessman Thomas J. Pritzker, will also offer advisory services to build enduring businesses in the region.
Nawah said its initial investment focus will be in Iraq where several of its officers have deep knowledge and experience.
“Iraq is at a crossroads,” said Brinkley, Nawah’s chief executive officer. 'It is now at the point where private enterprise should take the lead and play a transformative role in the country’s future.'
'I believe in Iraq’s future. And I believe that the opportunities there are significant in a wide range of industries,' he noted.
Brinkley said the firm will commit capital to build businesses and offer advisory services to help blue chip corporations access markets in the region.
“We have assembled the human and financial capital that will give us a unique ability to build long-term, profitable enterprises in a country that is in the formative stage of its growth,” said Pritzker, the company’s chairman.
“Iraq, like other countries in the region, has significant underlying demand for infrastructure, goods and services. Peace and prosperity are two sides of the same coin: Viable, profitable businesses contribute to the creation of prosperous communities that enhance stability,” he explained.
The company’s management team includes experienced business leaders as well as regional experts, several of whom spent years working in Iraq and Afghanistan under both the Bush and Obama administrations.
As deputy under secretary of Defense, Brinkley led a groundbreaking task force charged with developing economic opportunities in Iraq and Afghanistan through a range of efforts, including the successful encouragement of investment by US and Western businesses.
Before joining government, Brinkley held a number of senior executive roles with Silicon Valley technology companies, including JDS Uniphase and Nortel Networks.
A licensed professional engineer, he is the recipient of four US patents, and has published research on process optimization, production economics and artificial intelligence.
Pritzker is chairman and CEO of the Pritzker Organization, the principal financial and investment adviser to various Pritzker family business interests.
He is also executive chairman of Hyatt Hotels Corporation and chairman of Marmon Group.-TradeArabia News Service