Ernst
and Young, the global accountancy firm, is planning significant investments in
its Middle East practice in 2011, its chairman and CEO has said.
“Our
plans for 2011 are to have dramatic growth and continued major investment in
this region,” said James Turley on the sidelines of an event in Riyadh.
“When
you look around the world there is a lot of talk about BRICs (Brazil, Russia,
India and China) and they are clearly important but the Middle East is just as
important.”
Rival firm PricewaterhouseCoopers earlier this month said it
had invested $50m in the last 18 months in expanding its regional business, and
planned to double its staff within five years.
Turley refused to specify the size of the planned
investment.
“We will invest what we need to have the leading practice on
the ground,” he said.
E&Y
operates 20 offices in 15 Arab countries, with more than 4,2000 staff.
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