Raising standards

ALBANIAPrivatisation

of savings bank

ANGUILLARevenue review

ARMENIAMacroeconomic policy

advice; Reorganisation/tradedevelopment

AZERBAIJANEvaluation of privatisation;

Pensions development

BAHAMASHealth sector review; Multi-sectoral credit; Hospital QA and risk

management programme

BANGLADESHTrade Policy strengthening;

Planning; Strategic health economics; Tax administration reform

BARBADOS Export Competitiveness;Industrial sector review;

Financial sector regulation

BELIZETourism planning

BENINEconomic policy; Indirect taxation

BHUTANPrivate sector promotion;Export-oriented industries;

Health economics

BOLIVIAHealth reform project;Reproductive health

evaluation

BOSNIA HERZEGOVINASME strategy;

Pharmaceutical sectordevelopment; Health

financing

BRAZILHealthcare financing;

Regulation of privatisedinfrastructure; River transport

BULGARIABanking training; Exportdevelopment programme

BURKINO FASOIndustrial strategy; Costeffectiveness of health

promotion

BURUNDIIndustrial policy; Tariff

review; Export promotion

CAMEROON Study of export procedures;

Industrial master plan

CAPE VERDEElectricity and water

regulation and privatisation

CENTRAL AFRICA Trade policy;

Transportation policy

CHINAHealth finance; Depositinsurance; Hydro powerstation; Enterprise reform

COTE D’IVOIREExport competitiveness

CROATIAPharmaceutical market

strategy

CYPRUSExport promotion

DENMARKRubbish recycling

DOMINICARoad study;

Review of sea defencestrategy

EGYPTPrivatisation PMU;

Private sector development;Central Bank reform

ETHIOPIAGoat skin tannery;

Leather sector review;Private sector constraints

GABONHealth project;

Export development

GAMBIAExpenditure review;

Residual fuel oil tanks

GEORGIASocial policy training;

Primary healthcare strategy

GHANAFinancial management;

Social insurance; Pensions reform

GREECEPort development;

Energy study; Port planning

GRENADAEC aid evaluation

INDIAIndustrial evaluation

IRANTrade and export policy

JAMAICAExport promotion;

Basic benefits packagecosting; Health insurance

plan evaluation

KAZAKHSTANMinistry of Economycapacity building;

Health finance reform

KENYATelecoms strategy;

Trade liberalisation; Tourism

KUWAITPost war report

KYRGYZ REPUBLICIndustrial and trade policy;Support to the commercial

banking sector

LATVIARegulatory development;

Health basic package design

LESOTHOPrivatisation; SACUnegotiations support

Maxwell Stamp is one of the world’s leading

international economics consultancies.

Since our inception in the UK in the 1950s we have

expanded into a truly global group. Our extensive

world-wide experience includes an unparalleled

track record in transition and developing countries.

Our highly qualified specialists focus exclusively

on deploying the disciplines of economics to solve

complex problems for clients everywhere from

Albania to Zimbabwe. They include national and

regional governments, international organisations,

NGOs and public and private sector companies.

We have:

� built a global reputation for quality, innovation

and leading edge economics

� provided cost-effective solutions for public and

private sector clients

� maintained a strong commitment to liberal

market economics and

� developed the diversity of skills needed to

support clients in all economic policy issues that

only a broad-based consultancy can offer.

We are owned entirely by our directors and staff

and work from offices in the United Kingdom,

United States, South East Asia, Africa and Eastern

Europe. Our research subsidiary, the Trade Policy

Research Centre, and our in-house training school

are both London based. This is complemented

by the close links we maintain with many of

the world’s leading universities and research

organisations.

Examples illustrating the diversity of our

work and the range of our clients can be obtained

on request.

DRAWING ON A WORLD OF EXPERIENCE

“Maxwell Stampbrought in thirteen

specialists fromsix different

countries andbuilt a cohesive,

efficient teamthat helped

Namibia take theinitiative in the

renegotiations ofthe SACU

agreement."

Tsadao Gurirab,then Permanent Secretary,

Ministry of Trade and Industry,Namibia

We havesuccessfullyprovidedinnovativesolutions to adiverse rangeof clients in over150 countries.The areas ofexpertise citedhere representonly a crosssection of ourbroad scope.

1

“Of course I was impressedby their high leveltechnology. But not nearly soimpressed as Iwas by theircreative thinking.”

MinisterKazakhstan

The methodology of economics

is increasingly used in both

the public and private sectors to

improve decision making, planning

and efficiency.

At Maxwell Stamp we’ve been

at the forefront of satisfying the

growing demand for the skills of

economists for decades. All our

clients have their own requirements,

priorities and ways of interacting

with their professional advisers.

We pride ourselves on our ability

to be flexible, accommodating

and responsive to their needs

without compromising the quality

and depth of service we provide.

Our growth and continuing

success ensures that our clients can

� improve their decision making

as a result of our objective advice,

independent expertise and high-

level specialised analysis

� develop imaginative, practical

solutions to operational, planning

and policy problems

� determine the most effective use

of resources

� derive financial benefits from

our collaboration

� maximise their interests in

competitive situations and

� secure strategic advantages from

the rapidly changing international

business, economic and political

environments.

As a result, the scope of our

work and the range of our clients

have diversified well beyond the

traditional fields in which

economists work. But we have not

allowed the increasing demand for

our professional skills to dilute the

high standards that we have set

for our employees and their

working methods.

EMPLOYING ECONOMICS TO IMPROVE DECISION

MAKING FOR GOVERNMENTSAND BUSINESSES

2 3

4 5

“The Maxwell Stampteam didn’t stick totraditionalapproaches. Theirassistance indesigning riskmanagementstrategies wasparticularlynoteworthy as they were preparedto think outside the box."

Desmond Brunton,Acting Vice President,Operations, CaribbeanDevelopment Bank

We are continually striving to

push forward the frontiers

of applied economics, particularly

in emerging markets, and to develop

innovative methods and computer

programs necessary to apply them.

Our ongoing research and

development programme keeps

us at the cutting edge, turning the

latest theories and methodologies

into practical applications that

transcend the traditional activities

of economists.

We believe we’re unique among

consultancies in the time and money

we devote to research and

development. We are creative and

innovative, taking strategic advantage

from information technology and

the internet. We have utilised these

resources fully to develop a wide

array of successful proprietary

analytical techniques and

methodologies.

Our research and development

programme seeks to:

� develop imaginative, practical

solutions to operational, planning

and policy problems

� adapt existing techniques and

methodologies to new areas

of analysis

� improve the practical application

of economic theory and

� create and apply analytical

systems based on state-of-the-art

information technology.

This heavy investment in research

and development is designed to raise

the standards of economics

consultancy and to ensure our clients

do not get simplistic, off-the-shelf

solutions that result from sticking to

tried-and-tested approaches. All too

often those approaches are

outmoded and offer clients neither

strategic advantage nor added value.

THINKING BEYONDCONVENTIONAL WISDOM

"Maxwell Stampgave us practicalsolutions thatcould beimplementedquickly and costeffectively.”

Luke EtaManaging Director,Development Bank ofSolomon Islands

However complex a project

may sound in principle, the

solutions we offer are always

practical and achievable, providing

our clients with clear conclusions

and unambiguous recommendations.

This is a key factor of our success

in developing long-term relationships

and of the high level of repeat and

retainer business we enjoy.

But there are other vital factors.

We are responsive to each client’s

specific needs, tailoring our work

schedules to fit their requirements

and timetables. We always seek to

understand the issues and problems

faced by our clients from their

perspective and to relate these to the

perspectives of other stakeholders.

We work easily and effectively in

all cultural backgrounds, build lasting

relationships and maintain a

continuing interest in past

assignments. That allows us to take

on new projects for existing clients

seamlessly and with little learning

time and cost.

Although we enjoy a high

proportion of repeat business from

existing clients, our technical

strength and competitive cost

structure is confirmed by the large

number of competitive international

tenders that we win.

PRAGMATIC ANDDECISIVE ADVICE

6 7

"These weren’tobtuse academicswith their heads inthe clouds; thesewere skilledproblem solverswith their feet onthe ground.”

W Siaw,Head of Corporate PlanningSocial Security andNational Insurance TrustGhana

Any consultancy is only as

good as its people. We offer

teams of professionals whose

disciplines and experience are drawn

from industry, finance, universities,

government and international

organisations. Most have

postgraduate degrees or professional

qualifications and many are fluent

in several languages.

Each of our Executive Directors

is a specialist in a specific area of

our business but there is sufficient

overlap between them to ensure

effective interaction and support.

A number of our Associate

Directors are prominent university

economists who not only act as

consultants on our projects but also

serve as invaluable conduits to the

latest academic research, techniques

and methodologies. We have well

established relationships with the

finest economics thinkers from

leading universities.

Contrary to the common practice

of gathering teams of disparate

individuals, one of our core strengths

is the high proportion of full-time

staff in our consulting teams. This

strategy ensures close teamwork

and efficient work practices.

Recruitment is of paramount

importance. We accept only highly

qualified, experienced staff who can

relate well to clients, fit comfortably

into our team approach and bring

both analytical and technical insights

to our work.

OUR SUCCESS IS OUR PEOPLE

8 9

man in the street. Whilst in our work

for corporate clients we seek to

maximise their strategic advantage,

the competitive pressures of the

market place ensure consumer

interests remain dominant.

Much of our work is devoted to

strengthening governance to help

our clients meet the challenges and

the rigours placed on them by the

increasingly demanding international

environment for responsive, ethical

and responsible economic and

business management.

This is, no doubt, one of the

reasons why we have been able to

make such significant contributions

to the development efforts of

governments and international

agencies. Some consult us regularly

on a wide range of aspects of

economic development. Others we

have guided through the complex

and challenging areas of multilateral

and bilateral trade negotiation.

In the private sector we

successfully provide support and

advice to numerous companies and

their advisors, on issues including

strategic and business planning,

diversification, consolidation,

competition policy, pricing,

marketing and litigation.

11

"They realised wewere not the onlystakeholder and notonly helped us liaisewith the others butactually helped usget our point ofview across.”

Dr Boris Hrabac,Deputy Director,Federal Health Insurance Fund,Bosnia Herzegovina

In our experience, whether we

are dealing with the private or

the public sector, very few decisions

can be effectively taken and made

to work in isolation. At the strategic

planning level, decisions made in

one area inevitably impact on others.

A hallmark of our work is that we

look at projects from all angles and

take into account their impact not

only on our immediate clients but

also on other stakeholders. Our

approach helps to avoid and temper

potential conflicts of interest, fosters

the support of those not directly

involved in the decision making

process and eases the way for

successful implementation of even

the most difficult decisions.

Because of our heavy

involvement in national and

international developments, we

recognise the importance of

sustainability in the development

process. We make explicit the

balance between longer term

implications and short-term

exigencies.

The bigger picture is always

paramount. However complex and

sophisticated our analysis, we never

forget that our emerging market

work is about eradicating poverty

and increasing the wellbeing of the

SEEING THE BIGGER PICTURE

10

LITHUANIAPrivatisation assistance

MACEDONIASME development

programme

MADAGASCARIndustrial policy review

MALAWIIndustrial sector study; SME; feasibility studies

MALAYSIAVenture capital development;

Industrial strategy

MALDIVESTourism development

programme; Perspectiveplan; GIS training

MARSHALL ISLANDSStructural adjustment

MAURITANIAFisheries tax policy

MAURITIUSFiscal, trade and investment

policy reform; Impact ofindustrialisation; Transport;Venture capital development

MEXICOSteel privatisation

MONTSERRATTourism infrastructure

NAMIBIATrade policy reform;Agricultural taxation;

Institutional strengthening

NEPALDevelopment strategy;Industrial sector study;

Tourism

NEW ZEALANDPrivate sector/SOE review

NIGERIATrade & industrial policy;

Agricultural strategy; Tourism

OMANRegional planning

PAKISTANRationalisation of DFIs; Trade policy project;

Tax administration reform

PALESTINE Sectoral study on clothing

and textile sector

PHILIPPINESIndustrial restructuring;

Grain terminal; Export competitiveness;

Institutional strengthening

PITCAIRN ISLANDRevenue review

POLANDTextile firm; Restructuring; TA to cooperative banks;Engineering and foundry

restructuring

ROMANIALeasing; Financial training;

Reform of health sector

RUSSIASt. Petersburg SME strategy;Health care management;

Pharmaceutical sector study

SAUDI ARABIAIndustrial feasibility; National planning; Business planning

SLOVAKIARegional development

programme

SOLOMON ISLANDSReview of development bank

SOMALIAMogadishu infrastructure

SOUTH AFRICARegional development

planning; SME strategy;Provincial economic

development programme

SRI LANKATree crop restructuring;Industrial restructuring;

Industrial strategy

SWAZILAND Sugar industry in SACU;

SACU negotiations support;Fiscal re-structuring

SYRIATrade policy

TANZANIACapital markets/securities;

Expenditure review;Privatisation/publicenterprise reform

TRINIDAD & TOBAGOCompetition policy;

Trade policy; National parameters

TURKEYPort planning

TURKS & CAICOSDuty free evaluation;Investment promotion;

Tourism

UAEMembership of the GCC;

GCC tariff; Port study;industrial survey

UGANDAInvestment authority

management; Fiscal policy;Tax and Customs reform

UNITED KINGDOMEnvironmental impacts;

Port developments; Regional pay differentials

USAEconomic forecast; Market research

VIETNAMSyringe feasibility study;

SOE reform

ZAMBIATourism; Zambezi river

crossing; Industrial strategy

ZIMBABWEMatching grants;

SME development; Export development

We strive to understand all

the issues surrounding the

brief and each client’s organisation,

anticipating their constraints and

appreciating their aspirations. To react

rapidly to their needs, we must work

closely with our clients’ staff,

ensuring that they fully understand

all the issues and involving them

throughout the solution process.

Our most successful and fruitful

projects are those in which our

clients are most directly involved

with our work and the development

of the solution. Every assignment

requires that our experience,

technical skill and objectivity are

supported by our client’s in-depth

understanding of their organisation,

its aims and its expectations.

One of our greatest assets is our

ability to help our client’s staff

assimilate our techniques and

methodologies so they can use them

effectively to solve future problems.

The principle is clear. People

who understand our thinking and

methodologies and have played

a key role in creating solutions will

be more committed to keeping them

working and more capable of

developing them productively in

the future.

The close working relationships

we build with our clients are often

augmented by our training services.

These have been specifically

developed to strengthen our clients’

in-house capacity to analyse

problems and issues and to develop

effective strategies and solutions.

BUILDING WORKINGPARTNERSHIPS WITH

OUR CLIENTS

12

“Maxwell Stampdid much more than

simply providetechnical assistance.

They involved ouremployees every

step of the way,so when the project

was finished we hadour own people in

place who were able to continue thework on their own.“

Dr Ana Maria Martins,Ministry of Health,

Lisbon, Portugal

Abbot’s Court

34 Farringdon Lane

London EC1R 3AX

Tel: +44 (0)20 7251 0147

Fax: +44 (0)20 7251 0140

e-mail: london@maxwellstamp.com