How do you approach managing legal aspects during periods of instability or crises, and how does your legal strategy align with the broader business strategy to ensure the organisation’s resilience?

We need to be very responsive to our business stakeholders and highly proactive and tuned to rapid changes in geopolitical situation and market trends that impacts steel industry, by taking a structured approach to our legal strategy and delivery of legal advice and services across the organization that are fully aligned with business strategy and plans. That helps the legal division to prioritize tasks that add unique value to enhancing the value of the business.

I have greatly increased transparency and collaboration across the legal division. This allows my team to utilize diverse perspectives and international/local experiences to solve common problems, share knowledge, and drive agility.

What are the main cases or transactions that you have been involved in recently?

As newly appointed group general counsel, I was excited to come on board with EMSTEEL a few months ago to take charge of ongoing JV and M&A transactions which EMSTEEL is pursuing as part of its transformation journey to be a champion in contributing to the UAE national strategy to decarbonize the industrial sector and transition to greener future by producing green steel products.

My legal team continues working on a ground-breaking green hydrogen project that is the continuation of the pilot green hydrogen project announced in December 2023. The current project concerns the development of a commercial green hydrogen plant with the expected start-up date in 2027. This will be a flagship project run by Abu Dhabi-based champions and the first commercial step towards UAE’s National Hydrogen Strategy. My team and I are also working on some exciting transactions envisaging potential expansion of Emsteel beyond the UAE and GCC region.

How do you measure the impact of ESG initiatives on the company’s overall performance and reputation?

Acting responsibly towards the nation and the planet is ingrained in values of the United Arab Emirates government approach. Established as a national steel producing company over a quarter of century ago, we have a long history of acting on issues like safety, use of clean energy, CO2 capturing, marketing and trading. Today, our ESG agenda is shaped by the leaders within each business unit (steel and building manufacturing) who are expected to identify and address the operational risks and opportunities, understand stakeholder concerns, work safely and with integrity, and pursue continuous improvement. We believe in building ethics and sustainability objectives from the bottom up, and those managing ESG at each of our business units can access specialist support at the group corporate level, including from our dedicated lawyers advising on ESG/carbon trading. The legal division and I work closely with our VP-Sustainability on the ESG initiatives, and the division plays a key role in maintaining our values of rigor and integrity in the social and environmental context given our public listing on ADX stock exchange. Currently, we are also working with our quality assurance team to achieve ‘Responsible Steel’ certification which will make EMSTEEL the first steel champion in the GCC region to achieve such global ‘Responsible Steel’ certification.

Have there been any recent trends or changes in the nature of disputes in the region?

As the Middle Eastern countries, especially Gulf states, move away from oil dependency, disputes continue emerging in sectors like technology, real estate, and tourism. The enhanced activity in international investments has led to an increase in complex cross-border and foreign judgment disputes. Separately, in regions with instability, like parts of the Levant and North Africa, disputes now encompass political and social dimensions which requires in-house dispute teams supported by external counsel to stay highly informed of political and geopolitical developments impacting ongoing disputes. Finally, we also note that mediation and arbitration are increasingly preferred methods of dispute resolution given their speed and efficiency over traditional litigation. This is also due to the emerging rise of new arbitration centres (such as ADIAC or ArbitrateAD and DIAC).

What are the current trends in M&A activity in the Middle East, and which sectors are seeing the most growth?

As of 2024, mergers and acquisitions (M&A) activity in the Middle East is experiencing several notable trends and sector-specific developments, such increased investments in Technology and Innovation, significant focus on digital transformation and technological advancements –fintech, e-commerce, and tech startups are booming as the region aims to diversify its economy and embrace digital innovation. There is a growing trend of cross-border M&A activity, with Middle Eastern companies seeking opportunities outside their traditional markets and vice versa international companies are looking to invest in the region – examples include ADQ increased investment activity overseas, as well as international companies such as TotalEnergies, bp, Azerbaijan Investment Holding inward investments into the UAE. Finally, with a global shift towards sustainability, the renewable energy sector is experiencing significant growth. Investments by Masdar and other companies in solar, wind, and other renewable energy projects are increasing, supported by both government initiatives and private sector interest.

What role does the legal department play in promoting and ensuring corporate social responsibility in your organisation?

EMSTEEL has recently established its environmental, social and governance (ESG) strategy and implementation roadmap, including ESG board committee and a dedicated ESG function. The legal division was and remains actively involved in these initiatives. As part of our “Social” responsibility, significant Corporate Social Responsibility (CSR) initiatives have been implemented. For example, during 2024 several events were organised and sponsored by EMSTEEL involving contribution to charities, support to people of determination, sponsorship of sports, and environmental initiatives. Moving forward, EMSTEEL intends to formalise and develop the CSR function, including pursuing ISO 26000 accreditation for social responsibility, which will validate EMSTEEL’s commitment to voluntary community initiatives. All these upcoming accreditation efforts are actively supported by the legal division.