These companies bring substantial investments, create jobs, and stimulate local economies, aiding in the diversification from traditional oil and gas sectors to technology, tourism, healthcare, and renewable energy.
These companies have also been pushing digital transformation in the region with several investments and initiatives. For example, in March 2024, IBM announced plans to invest over $200 million in talent and infrastructure in a new IBM software lab in Riyadh. In April 2024, Microsoft announced a $1.5 billion investment into Abu Dhabi’s G42, with plans to establish a $1 billion fund for developers to boost AI skills in the region. In May 2024, Google introduced new AI Gemini models and other features, making the Arabic version of Gemini Advanced available.
We’ve been compiling and revealing our Global Meets Local ranking for 12 consecutive years, recognizing the regional heads of the world’s largest international companies who are based in MENA. This year’s list features 104 executives from 100 companies.
Of the 100 companies, 55% are based in the U.S., with the rest based in 15 other countries. They represent 30 sectors, demonstrating the role that these multinational corporations are playing in diversifying the region’s economies. The technology sector tops the list with 19 entries, followed by nine pharmaceutical companies and seven firms operating in the automotive industry.
The 104 executives represent 40 nationalities. Lebanon leads with 12 executives, followed by eight Indians, then the U.K. and France with seven executives each.
1 Samer Abu-Ltaif
This story is from the August 2024 edition of Forbes Middle East - English.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the August 2024 edition of Forbes Middle East - English.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Celebrating Emirati Businesswomen and Entrepreneurs on Emirati Women's Day
As part of the U.A.E.’s annual Emirati Women’s Day celebrations, the Abu Dhabi Business Women Council and the Abu Dhabi Chamber hosted an event on August 28, 2024, under the theme “We Collaborate for Tomorrow,” celebrating the role and achievements of Emirati women.
THE MIDDLE EAST'S TOP 100 HEALTHCARE LEADERS 2024
MENA’s healthcare landscape is evolving towards integration, marked by the rise of fully comprehensive ecosystems. Industry giants are setting future trends, driven by systems that thrive on data abundance, accessibility, and intersectoral collaboration.
SCOUTING FOR OPPORTUNITIES
Ayman Cheikh-Lahlou, Chairman and CEO of the Morocco-based Cooper Pharma, took the helm of the family-owned pharmaceutical company in 2005 and has seen business boom over nearly 20 years. Now, he’s exploring expansion opportunities in new markets.
TURNING THE TIDE
Irina Zaporozhets, President and General Manager for Eli Lilly Suisse S.A. in the META region is driving expansion, focusing on innovation and patient-centric care. As she navigates regional challenges, her commitment to expanding access to medicine remains at the forefront.
Supercharging AI
Armed with a newly raised 640 million, GROQ thinks it can challenge one of the world’s most valuable companies with a purpose-built chip designed for Al from scratch.
How Technology is Accelerating Digital Equality in Diverse Markets
The rise of smartphones and digital technologies has transformed our daily lives, contributing to the evolution of connected consumers.
Rare Fortune
Money manager JAMES LITINSKY turned a bad junk bond bet into a $400 million fortune. His MP Materials operates a strategic mine and will begin manufacturing supermagnets for electric vehicles next year.
The State of Mental Health in the Middle East
While mental health awareness is on the rise, the Middle East faces some challenges in providing care. Still, we're seeing some progress.
Big Breakthroughs
From gene therapy to nasal sprays, these were some of the most significant healthcare breakthroughs in the last year.
MENA's 5 Most Valuable Healthcare Companies 2024
The combined market cap of 57 healthcare companies listed on MENA's stock exchanges hit $83.7 billion on August 13, 2024, with the top five companies accounting for about 62.4% of the total market cap. These are MENA's five most valuable healthcare companies in 2024.
