Asset Management Crucial for Middle East Governments to Sustain Infrastructure Developments by TCFOffice123

VIEWS: 71 PAGES: 4

									     Asset Management Crucial for Middle East
Governments to Sustain Infrastructure Developments
Dubai     –   May        23   2012:     Fueled    by    strong   economic       expansion,
infrastructure sector in the Middle East is rapidly growing in size, maturity
and professionalism, and needs to be managed effectively in order to ensure
the    financial   and    physical     sustainability   of   these   multi-billion   dollar
investments. However, experts believe that there is still a substantial gap in
the management of these infrastructure assets once they are built. While the
concept of asset management is relatively new to the region, it is vital for
Middle East governments that invest billions of dollars, to ensure that their
infrastructure investments are efficient and deliver value for money in the
long term.


“It should be noted that asset management is a new but rapidly emerging
area    across     the   world.   In    the   Middle    East,    some   asset    intensive
organisations especially in the transport, power, water and telecom sectors
have taken the lead in terms of focusing on improving their asset
management practices,” said Amit Anand, Director of Capital Projects and
Infrastructure, PwC Middle East, who will be one of the speakers at the first
Government Asset Management Congress 2012.
“However the majority of the remaining organisations are at a very early
stage when it comes to even having access to basic data about their assets,
before using it for any meaningful decision-making. We therefore see a big
gap in this area in both the government and private sector organisations in
the Middle East,” he continued.


Anand believes that there are numerous benefits of adopting emerging asset
management practices. Some of them include better customer service to the
public, enhanced control over capital and operational expenditure, effective
identification and management of asset related risks, as well as improved
economic and social returns on infrastructure investments.


Without an underlying asset management framework in most organisations,
the opportunity to drive efficiencies and performance is big. “Asset intensive
organisations in the region are at a point of choice where they can either
continue to operate their assets the way they always have, or really seize
the opportunity to create a real competitive advantage in their market,” said
Anand.


Anand said the conference is timely for the region as it could address the
gaps in the region’s asset management capabilities, adding that it will play
an important role in increasing awareness and bringing a much needed
cultural shift within organisations.
“The opportunity that the organisations in the Middle East have is therefore
quite unique and timely. As these relatively new organisations in the Middle
East embark on building new infrastructure, they can also focus on
developing a robust framework to manage these assets for when they get
commissioned. There are enough examples available overseas that can
provide guidance on developing and implementing an organizations’ asset
management transformation roadmap,” he said.


“Mature asset management models have already been developed in Europe,
and the lessons learnt can be employed in the Middle East region, in order to
speed up the development process,” said Atif Raja Managing Director of
KEMA, also speaking at the conference.


With the Roads and Transport Authority Dubai as the strategic partner for
the Congress, the event will be the first opportunity of its kind in the region
and will see the participation of senior figures from a host of government
organisations from across the GCC. The conference takes place from May 27
until May 29 at the Address Hotel, Dubai Marina, and UAE. Speakers for the
conference include Adi Al Dees, director of asset management department at
the Roads and Transport Authority, Dubai, Dr Naïf Dandachi, director of
asset management at TRANSCO, Abu Dhabi, John Arnup, director of global
engineering for DP World in the UAE and many more.
                                          -ENDS-

About IIR Government Asset Management
A regional event, the Government Asset Management Congress 2012 promotes the
professional discipline of asset management among the owners and managers of
government infrastructure across the Middle East. The first event of its kind for the region,
it provides an important platform to share international and regional best practice in asset
management. The event covers all classes of government infrastructure and assets
including water, power, waste water, roads, airports, ports, rail and social infrastructure.
Speakers include Bert de Wit Project Manager Asset Management Rijkswaterstaat, Ministry
of Infrastructure and Environment, Netherlands, Batool Ali Abdula’al Deputy Chief Executive
Electricity and Water Production and Transmission, Bahrain Electricity and Water Authority,
Bahrain, Abdulla Ali Al Madani CEO, Corporate Technical Support Services Sector, RTA, UAE
and          others.        For        more          information          please         visit
www.iirme.com/governmentassetmanagement.

For media requests, please contact:


Phone +971 (4) 4472501
Email: team@tcf-me.com
P.O. Box 29764, Dubai, United Arab Emirates
Fax +971 (4) 447 2505

								
To top