khaleej times | special report

europe’s hub

Austria is a country steeped in history. As one of the richest nations in the world, it boasts of a very robust ser-vices sector. Forming more

than 70 per cent of the country’s Gross Domestic Product (GDP), Austria has a thriving service sector. One sixth of Austria’s wage and salary workforce is employed in the trade and industry sector, which contributes almost 13 per cent to its GDP.

Being a stable EU member state, Austria offers investors an array of av-enues and opportunities. Besides the motivation and skill of labour, high productivity and international com-petitiveness, quality of life and person-al security, Austria has world-class telecommunications and energy infra-structure. The country’s administrative system is transparent with top-notch labour-management relations. Main export commodities include machin-ery and equipment, motor vehicles and parts, paper and paperboard, metal goods, chemicals, iron and steel; tex-tiles, and foodstuff.

Characterised as a free market econ-omy, Austria boasts of a high propor-tion of medium-sized companies. Manufacturing is big in the country with several large firms producing ce-ment, paper, and sugar among other goods. With a special focus on high-quality products, mainly in the tradi-tional industries, the country generates most of its foreign currency through exports. Iron and steel production form the leading industries in Austria with firms involved in making plants and installations like hydroelectric or ther-mal power stations, chemical plants, steelworks, and seamless pipelines.

Tourism is the country’s biggest for-eign exchange earner and the fastest growing sector, producing 10 per cent of Austria’s economic output. Austria regularly ranks among the world’s top countries with 30 million tourist arriv-als annually. While Vienna attracts the most number of tourists, Salzburg too is a big hit with holiday makers. Sölden, Saalbach-Hinterglemm, Ischgl, Sankt Anton am Arlberg being the most pop-ular tourist hotspots. Famous for ski-ing, hiking and mountaineering re-

sorts, Austria is also home to numerous stunning lakes and castles.

The country has made huge strides in the energy sector. Nearly 70 per cent of its energy comes from renewable sources such as water. Notably Austria is one of Europe’s most important pro-ducers of hydroelectric power. With an

enhanced focus on renewable energy the country is now looking at a target of 34 per cent renewable energy by 2020 and 100 per cent self-sufficiency in en-ergy by 2050. The country expects to generate 100,000 new green jobs up to 2020, it was recently announced.

— sadiq@khaleejtimes.com

By Sadiq ShaBan

Along with tourism, Austria is famed for its machinery, metallurgical products and textile industries

Austrian company Waagner Biro Gulf L.L.C. has been serving the world for more than 160 years

Austria

Business relations spanning decades

Waagner Biro Group started operations in the UAE in 1964. Its first project — The Maqta Bridge in Abu Dhabi was completed in 1967, followed by the Al Maktoum Bridge in Dubai in 1969.

For 50 years, Waagner Biro Gulf L.L.C. has built a long historical database as a full-range service supplier for design, engineering, manufacturing and installation of all kinds of bridges, steel structures, marine and coastal works and wastewater treatment plants, using the local experience and international expertise to find the best solutions for its clients. Post-construction and operation services are provided in comprehensive facility management services and non-comprehensive annual mainte-nance contracts. A new and better way of doing things and excelling in them is proposed and implemented in turn key maintenance projects with governmen-tal organisations and private developers.

Waagner Biro Gulf ’s portfolio at a glance:

Bridge engineering (special bridges; •movable bridges; floating bridges; panel bridges; modular bridges) Marine and coastal engineering •(harbours; marina and berthing facilities; barges and vessels; beach improvement/ protection works; marine maintenance) Facility management and mainte-•nance (preventive maintenance; corrective maintenance; annual maintenance/ overhauling; 24/7 emergency works; MEP works)Water and environmental engineer-•ing (tailor-made solutions for environmentally friendly wastewater treatment through reed beds)

Economy facts:

About 7.5 million hectares of land are used for agriculture with cattle farming •contributing 30 per cent to the agricultural value-added businessAustria has more than 18,500 eco-farms •The country’s tourism industry employs 220,000 people in 40,000 •establishments Trade with other EU countries accounts for almost 66 per cent of Austrian •imports and exportsAustria is among the top 5 wealthiest countres in the European Union, having •a GDP (PPP) per capita of approximately €27,666

Technology at the highest level

OMV uses the “4S” cutting edge technology in the field of 3D Seismic in the desert of Abu Dhabi. Ten billion data points are currently being recorded in the East Abu Exploration Block utilizing the state of the art “4S” (single source-single sensor) seismic acquisition method. It allows OMV and its partner ADNOC a highly efficient analysis for the search of new oil and gas reserves. Deployment of such leading edge technologies will assist to secure the energy supply for the future.

OMV and ADNOC explore to secure the energy supply

OMV Exploration & Production

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AustriA khaleej times | aDVeRtisiNG sUPPlemeNt

OMV is one of Austria’s largest listed industrial companies. It is now active in 30 countries worldwide, with around 27.000 employees, focusing on profit-able growth in its three business areas of Exploration and Production (E&P), Refining and Marketing (R&M) and Gas and Power (G&P).

OMV established an upstream exploration and production company in the UAE in 2011. In June 2012, it signed its first upstream agreement with ADNOC.

Presently, OMV is active in two projects, the Shuwaihat appraisal project with Winter-shall as 50 per cent partner and operator, and an exploration project in Eastern region of Abu Dhabi with OMV as operator and ADNOC as sole partner.

The Shuwaihat JV is applying most advanced technologies as OMV and Wintershall have a proven track record of sour gas field developments and opera-tions in Germany and Austria for more than 40 years of safely producing sour gas (Hydrogen Sulphide and Carbon Dioxide) bearing oil and gas fields.

In the onshore eastern region of Abu Dhabi, OMV and ADNOC

are jointly conducting a state-of-the-art exploration programme with seismic acquisition and followed by drilling of exploration wells. The acquisition of 3D seismic data is now under way and OMV’s first exploration well is planned for 2016.

“It was a very important step to get OMV engaged with E&P activities in the UAE. The cooperation with ADNOC has been excellent in developing the agreements we are in and we are excited to have ADNOC as our partner in the exploration campaign,” says Dr Georg Wachtel, General Manager of OMV Abu Dhabi.

Exploring UAE’s oil wEAlthOMV, an Austrian company with operations in 30 countries, is working closely with ADNOC and Wintershall on two projects

It was a very important step

to get OMV engaged with E&P activities in the UAE. The cooperation with ADNOC has been excellent in developing the agreements we are in and we are excited to have ADNOC as our partner in the exploration campaign.

— Dr Georg Wachtel

AUstriA fAct filEOfficial name: • Republik Österreich (translates to “Eastern Empire”)Capital: • ViennaPopulation: • 8,223,062 (as of 2014)Total area: • 83,870 sq kmLanguage: • German, Hungarian, Croatian, Serbian, Bosnian, Turkish and PolishCurrency: • Euro (formerly schilling)GDP per capita: • $42,600 Life expectancy: • 80 yearsLiteracy rate: • 98 per centIndustry: • Construction, machinery, vehicles and parts, food, metals, chemicals, lumber and wood processing, paper and paperboard, communications equipment and tourismAgriculture: • Grains, potatoes, sugar beets, fruit; dairy products, cattle, and poultry Exports:• $165.6 billion (as of 2013)

TITbITs

Austria consists of nine independent federal states — burgenland, hCarinthia, Lower Austria, Upper Austria, salzburg, styria, Tyrol, Vorarlberg and Vienna — each with its own provincial government.

statistics Austria reported that the country’s GDP stood around h€310.69 billion in 2013 with a 2 per cent change compared to the previous year.

Austria is the second richest country in the EU with state-of-the-art htransport and telecom infrastructure.

Austria is one of the most investor-friendly countries in Europe, with ha a corporate tax rate of 25 per cent. Its attractive group taxation system and lack of wealth and trade taxes add to its benefits.

It is also among the top 15 UN countries for standard of Living paired hwith high technical standards and quality expectations in the market.

Tourism plays an extremely important economic role in Austria. hstatistics show that in 2013, around 36.8 million foreign visitors visited the country with total of around 136 million overnight stays.

The country is a member of the following organisations: UN (United hNations), World bank Group, OECD (Organisation for Economic Co-operation and Development), OsCE (Organisation for security and Co-operation in Europe), WTO (World Trade Organization) / GATT (General Agreement on Tariffs and Trade), IMF (International Monetary Funds) and the WHO (World Health Organisation).