Adib Al-Afifi: “AIM Startup 2019 is a great opportunity for investment entities and investors from around the world.”

The National Program for Small and Medium Sized Enterprises and Projects of the Ministry of Economy, held a press conference for the launch of AIM Starup 2019 with the theme “Harnessing Global Digitization to Empower Startups and SMEs” which will be held on 8-10 April 2019 at the Dubai World Trade Centre.

The speakers shed light on the plans and initiatives of the National Program for SMEs and Projects for 2019, which will seek to attract more startups and SMEs to explore investment opportunities that abound in the UAE in various in various fields and sectors.

During the press conference, the agenda for AIM Startup 2019 was also reviewed. The event anticipates the participation of more than 500 startups and SMEs, and over 20,000 visitors, allowing more startups and SMEs to present their ideas to a bigger audience at the forum.

In this regard, Dr. Adeeb Al-Afifi, Director of the National Program for SMEs and Projects, said, “AIM Startup represents this year’s emerging companies in Dubai in a forum that links investment opportunities and investors from around the world. This is a platform where we can showcase the economic developments the UAE has achieved, as well as its economic diversification, which has opened the door even wider for a range of investment opportunities, making it a top destination for investment.”

Al-Afifi also added, “UAE continues its efforts to consolidate its economic position that has made it an ideal global investment destination, and through initiatives such as this forum, UAE strengthens its partnerships and linkages with entrepreneurs and innovators within its SME sector, which plays an important role in the national economy of the UAE.

Al-Afifi also disclosed that the number of registered SMEs has reached 98% of the total registered companies, and 89% of which are into trade and service sector, accounting to 49% contribution to UAE’s non-oil GDP, a fine reflection of the country’s attraction of investment. The total number of SMEs in the country as a whole, and specifically those registered in Dubai, is increasing.

Dawood Al Shezawi, Chairman of the Organizing Committee of AIM Startup also stressed that the UAE has had a timely recognition of the contribution of SMEs to the nation’s GDP, in addition to the size of job opportunities offered by these companies, prompting the government to support projects, investment opportunities, and the development of tools in order to strengthen their capacity on innovation and experimentation, which are fundamental for structural change, through the emergence of SMEs which are equipped with competence and ambition.

“The UAE has provided the ideal environment for SMEs with facilities and incentives, and has developed a number of flexible laws and regulations to make their activity more vibrant, resulting in increased low-capital investments in low-cost businesses. On the competitiveness of SMEs to develop their structures and products through innovation, it allows them to offer quality products and enables them to impose their presence in the markets.”

The Chairman of the Organizing Committee has announced the nomination of 41 startups selected during a roadshow pitch competition held in the region. The selected startups now have the opportunity to come to Dubai with waived registration fee to participate in the final pitch competition in April. Among best innovative minds in entrepreneurship will emerge one winner of the annual competition and will receive $50,000 seed money to support their project.

Winning startups from Hashemite Kingdom of Jordan are Darajtee, 360 Moms, Tarteeb, Takalam, Akyas; from State of Kuwait were Wakoo, E-pill Box, Go Diving, Ideabot, Diabetic Wound Detector; from Oman are Telpay, Zayr, Adeeb Kids, PocketCarage, Fastmovers; from Lebanon are Formidable Industries, Groovy Antoid, Neotic, Lemonade Fashion, Lexyom, Augmental; from Riyadh are Mutamer, Pick Logistics, Maya Clinics, Vigorous Antelope; from Jeddah are Firnas Aero, Bab Makkah, Men wall, Tagit Games, Passioneurs; and from Egypt are Garment IO, Epic VR, WideBot, ZeroPrime Can Waste, and VoXera.

According to Global report, a total of 366 investments were made in startups based in MENA last year, with investment funding of $893 million. The same report also stated that the UAE remains the most active ecosystem, accounting for 30% of all deals and 70% of total funding. Thus, through initiatives such as AIM Startup, SMEs and startups are looking to an even more attractive ecosystem to help the region in achieving the level of investments at par with European or American ecosystem.

The importance of SME sector in the UAE has been formalized under the Federal Law No. 2 of the year 2014, with the establishment of the National Program for SMEs and Projects. Under the umbrella of the Ministry of Economy, it aims to empower entrepreneurs and to develop a general strategy and guidelines aimed at providing the necessary expertise and technical as well as administrative support in various fields in order to promote and develop SMEs. It is also mandated to prepare periodic evaluation as well as to coordinate with federal and local government agencies and the private sector to market enterprising products within the country and internationally.

AIM Startup will host its third edition this year. The annual event has over the years been counting on the continued support of the public and private sector to provide much needed tools in learning and networking platforms for investors and entrepreneurs. On the national level, the support comes from National Program for SMEs and Projects, Sheraa, Sharjah Business Women Council, Khalifa Fund, Dubai South, Wamda, Abu Dhabi Global Market, and many more. From the international level, AIM Startup is highly supported by BIAC, Wadi Makkah, Monshaat, Mohammed bin Salman College and in partnership with Korean Trade Association, Indian SME Chamber, Switzerland’s Solar Impulse Foundation, and Brazil’s Mango Venture.

خلال ورش عمل يقدمها خبراء ومتخصصون

"ملتقى الاستثمار السنوي" يبحث تحديات الأسواق العالمية وتوجهات رؤوس الأموال

تنظم الدورة التاسعة من ملتقى الاستثمار السنوي، التي تنطلق تحت رعاية صاحب السمو الشيخ محمد بن راشد آل مكتوم، نائب رئيس الدولة رئيس مجلس الوزراء حاكم دبي رعاه الله، في الفترة الممتدة من 8 أبريل المقبل، وتستمر حتى 10 من الشهر ذاته، في مركز دبي التجاري العالمي ، عدداً من ورش العمل، التي تتناول أبرز مقومات الاستثمار الناجح، يقدمها نخبة من الخبراء والمتخصصين في الترويج الاستثماري.

وتهدف أولى ورش العمل التي تنظمها الرابطة العالمية لوكالات ترويج الاستثمار (WAIPA)، بإدارة سارة روسيس كريم، رئيس قسم المبيعات العالمية في شركة FDI Intelligence إلى تسليط الضوء على آليات تحليل الأسواق، وتوجهات الاستثمار، بالإضافة إلى بحث أبرز التحديات والاتجاهات المتغيرة في مؤسسات وشركات ترويج الاستثمار، ومدى تنافسيتها في ضوء ازدياد أعداد وكالات ترويج الاستثمار على المستوى العالمي.

كما يوفر خبراء ومختصون في مجال الاستثمار من خلال الورشة فرصًا أفضل لوكالات تشجيع الاستثمار تساعدها على فهم أفضل لإمكانياتها وقدراتها في مجال التعامل مع الفرص الاستثمارية التي تتيحها القطاعات الحيوية ، وتمكنها من الوصول لها في ظل الاتجاهات الحالية والآثار الخارجية التي قد تلعب دوراً حاسماً بالنسبة لهم، وتؤثلر على إمكانية جذب الاستثمارات.

وفي سياق متصل يتطرق جون حنا مدير GDP Global، من خلال الورشة الثانية، إلى مفهوم المدن الذكية، وطرق إنشاءها، وسبل توظيف التقنيات الرقمية اللازمة لإنشاء البنى التحتية لهذه المدن، من خلال مناقشة السياسات والبرامج التمكينية الخاصة ببناء المدن الذكية والتي تعد إحدى التوجهات الاستثمارية التنافسية اليوم، إلى جانب بحث أفضل الممارسات التي ستضع مناطق المدن على الخريطة العالمية للتجارة والاستثمار، كما يناقش حنا أيضا البرامج الاقتصادية السبعة التي سيتعين على مناطق المدن الذكية تقديمها وكيفية تنفيذ استثماراتها.  

وتسلط الورشة الثالثة التي تحمل عنوان "كيفية جذب الاستثمار الأجنبي المباشر من الخليج"، الضوء على فرص الاستثمار، وأفضل الممارسات حول اتجاهات الاستثمار الأجنبي المباشر ،وفرص الاستثمار الخليجي في الخارج ، وأفضل الممارسات حول كيفية التعرف على الشركات الخليجية والتعامل معها بنجاح، من خلال الاطلاع على النماذج التي تقدمها وكالات تشجيع الاستثمار المشاركة، بالإضافة إلى فهم ثقافة العمل وكيفية بناء علاقات مع صناع القرار .

ويقود الورشة هنري لوينداهل مؤسس شركة WAVTEQ والرئيس التنفيذي لها، إلى جانب عدد من خبراء الشركة وهم، رالف داجينهاردت ، الرئيس التنفيذي لشركة أوروبا العربية ، ونيسان عبد القادر ، أخصائي بالأسواق الناشئة، وكريس نايت ، رئيس الشؤون التجارية و دانييل كالاهان ، نائب الرئيس الأول لمنطقة أوروبا والشرق الأوسط وإفريقيا (Senior VP-EMEA).

وستتطرق ورشة العمل الرابعة إلى أثر تسارع معدل التغيير العالمي والتحديات التي تعيق قدرة الحفاظ على الميزة التنافسية. يديرالورشة دوغلاس فان دن بيرغي نائب رئيس وكالة كونوايCONWAY) )تحت عنوان "مستقبل ترويج الاستثمار في عصر من الاضطراب."  

يذكر أن ملتقى الاستثمار السنوي سيقام هذا العام تحت شعار "خارطة مستقبل الاستثمار الأجنبي المباشر: إثراء الاقتصادات العالمية من خلال العولمة الرقمية". كما استطاع ملتقى الاستثمار السنوي وعلى مدار دوراته السابقة من فرض حضوره على الساحتين الإقليمية والدولية، باعتباره أحد أكبرالتجمعات الاستثمارية في العالم، إذ يتمتع بمشاركة دولية واسعة من قبل صناع القرار وكبار المسؤولين ورجال الأعمال والخبراء والأكاديميين، فضلاً عن نجاحه في توفير منصة مثالية لنقل وتبادل المعرفة والإحاطة بأحدث المعلومات في مجال الاستثمار الأجنبي المباشر والقضايا ذات الصلة، وتبادل الخبرات، واستكشاف فرص الأعمال، وتوقيع اتفاقات التعاون والشراكات.

Along with other investment advisory partners GDP Global, WAVTEQ, and Conway….

WAIPA leads AIM 2019 workshops to ensure higher FDI competitiveness

In anticipation of the 9^th edition of Annual Investment Meeting, investment promotion professionals will be offered fresher perspectives on how to attract foreign direct investment as World Association of Investment Promotion Agencies (WAIPA) leads Annual Investement Meeting, AIM workshop on 8-10 April 2019 at the Dubai World Trade Centre. AIM is an initiative of the Ministry of Economy under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister, and Ruler of Dubai..

The workshop on Trends in Investment Promotion and Their Impact, organized by WAIPA, will be led by Sarah Russis Kraiem, Head of Global Sales, fDi Intelligence. The workshop will cover the rapidly-changing trends within Investment Promotion Agencies (IPAs) and how their growing number of mandates impact their adaptability to remain competitive.

Investment professionals will also unfold opportunities for IPAs to reach their potential amidst the current trends and external influences that may play a crucial part for them to attract investments.

The concept of smart city now goes beyond utilization of smart technology. It compasses the necessary investment to build smart infrastructure. John Hanna, Director of GDP Global, will lead the discussion on How to Create Smart Cities, a workshop organized by GDP Global.

GDP-led workshop will discuss enabling policies and programmes to create competitive smart city regions and the best practices that will place city regions on the global map for trade and investment. Hanna will also discuss the seven economic programmes that smart city regions will have to deliver and how to implement smart city investment.

The third workshop touches closer to home with the topic How to Attract FDI from the Gulf: Investment Opportunities and Best Practices which will include modules on FDI trends and opportunities for Gulf investment overseas, best practices on how to identify and engage with Gulf companies, success case studies from other IPAs, and business culture and how to nurture and build relations with investment decision-makers and close deals.

Said workshop will be led by WAVTEQ and will have the insights from its founder and CEO, Henry Loewendahl with other WAVTEQ experts Ralf Dagenhardt, CEO-Europe Arab Associates, Nisan Abdulkader, Emerging Market Specialist, Chris Knight, Chief Commerical Officer, Daniel Callaghan, Senior VP-EMEA.

The final workshop will touch on the accelerating rate of global change and the challenges it presents to maintain competitive advantage. The workshop, which will be organized by CONWAY, will have the topic The Future of Investment Promotion in an Era of Disruption.

Discussing the Fourth Industrial Revolution and how digitization impacts the future of work, connectivity, political instability, protectionism, and new modes of collaboration will be discussed by Conway VPs-advisory, Douglas van den Berghe and Guillermo Mazier.

Editor’s note:

ABOUT AIM 2019

• Annual Investment Meeting (AIM), the premier event in foreign direct investment in the Middle East and North Africa, holds its 9th edition on April 8-10, 2019 at Dubai World Trade Centre, Dubai, United Arab Emirates.
• Under the theme ‘Mapping the Future of FDI: Enriching World Economies through Digital Globalization’, AIM 2019 addresses the global challenges in the flow of foreign direct investment. The event remains to be the most relevant and the biggest FDI platform in the world.
• Part of its milestone in its previous staging had been putting under one roof 1,000 experts and FDI specialists and 20,000 attendees from over 140 countries, where 1,200 conference delegates benefitted from FDI dealings and strategic networking.
• AIM 2019 is an initiative of the UAE Ministry of Economy and is under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai.

For press inquiry, kindly call or email:

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تؤكدها استثمارات نوعية وشراكات اقتصادية وزيارات متبادلة

(English)

توقعات بارتفاع حجم التجارة غير النفطية الإماراتية الصينية إلى 70 مليار دولار بحلول عام 2020 أو 70 مليار دولار حجم التجارة غير النفطية الإماراتية الصينية بحلول 2020

الصين تبحث عن توسيع نطاق استثماراتها عبر مشاركتها في ملتقى الاستثمار السنوي

تمكنت دولة الإمارات العربية المتحدة من تحقيق نقلة نوعية في اقتصادها خلال سنوات وجيزة، نظراً لاعتمادها استراتيجية تستند إلى استشراف المستقبل، واستباق التحديات المستقبلية بخطط استراتيجية، عززت من مكانتها على خريطة الاقتصاد العالمي.

وتتمتع دولة الإمارات بعلاقات شراكة متميزة مع مختلف دول العالم، وفي مقدمتها جمهورية الصين التي من المتوقع أن يصل حجم التبادل التجاري غير النفطي بينها وبين الإمارات إلى 70 مليار دولار بحلول العام 2020.

وقد شهدت العلاقات الثنائية بين البلدين خلال الفترة الماضية نشاطاً ملحوظاً على صعيد تبادل الزيارات الرسمية بين الصين والإمارات وما اسفرت عنمه من عقد اتفاقات تعاون وتوثيق أطر الشراكات الاقتصادية القائمة، وفتح أبواب استثمارية جديدة وطويلة الأجل، عززتها الحرص المتبادل على المشاركة في مختلف الفعاليات الاقتصادية التي يتم تنظيمها لدى الطرفين، لا سيما مشاركة الصين في النسخة التاسعة من ملتقى الاستثمار السنوي التي تنطلق في الفترة من 8 إلى 10 أبريل 2019 في مركز دبي التجاري العالمي.

وتأتي مشاركة العملاق الاقتصادي الصيني في الملتقى الذي ينطلق تحت عنوان"خارطة مستقبل الاستثمار الأجنبي المباشر: إثراء الاقتصادات العالمية من خلال العولمة الرقمية"، والتركيز على الاستثمار في مختلف الموارد المتاحة، بما يحقق التنمية المستدامة، التي تندرج ضمن الخطط الاستراتيجية لها.

ويتيح الملتقى للجانبين فرصة تعزيز علاقات التعاون الاقتصادي، حيث تجاوزت حجم المبادلات التجارية غير النفطية حاجز الـ 53 مليار دولار خلال العام 2017، وحوالي بـ 2.8 مليار دولار رصيد الاستثمارات الصينية المباشرة في الامارات حتى نهاية عام 2016 بنمو وصل الى 33%، والتي تركزت في عدد من القطاعات التي تشمل تجارة الجملة والتجزئة، الأنشطة المالية وأنشطة التأمين، الأنشطة العقارية، البناء والتشييد والنقل والتخزين وغيرها.

وفي هذا الصدد قال سعادة عبد الله آل صالح وكيل وزارة الاقتصاد لشؤون التجارة الخارجية "تواصل دولة الإمارات العربية المتحدة تحسين مناخها الاستثماري بإدخال تشريعات جديدة وسياسات ملائمة للأعمال التجارية، من خلال دعم بيئة استثمارية مواتية، قادرة على جذب المزيد من تدفقات الاستثمار الأجنبي المباشر، وخاصة من الصين التي تسعى إلى توسيع نطاق أعمالها واستثماراتها في أسواق الدولة." وأضاف آل صالح: "إن العلاقات الاقتصادية القوية بين الإمارات العربية المتحدة والصين مدعومة بإرادة سياسية قوية متبادلة لدعم وتحقيق النمو الاقتصادي والتنمية المستدامة، وهو ما تترجمه الزيارات المتبادلة رفيعة المستوى لقيادات البلدين، ويشكل ملتقى الاستثمار السنوي احد المنصات التي تلعب دورا حيويا في تعزيز تلك التوجهات الأساسية وفتح مجال أوسع للحوار وتبادل الفرص والمعلومات ومناقشة جوانب التعاون المتاحة، إذ يهدف الملتقى إلى تأسيس شراكات استثمارية تخدم الأهداف التنموية لمختلف الدول المشاركة في أعماله من خلال إتاحة المجال لتبادل الرؤى فيما بين الحكومات والقطاع الخاص لإنشاء هياكل اقتصادية متينة للمستثمرين، وربط الفرص بالنمو الاقتصادي المستدام ".وستسعى الشركات الصينية من خلال اللقاءات المشتركة التي يتيحها الملتقى إلى زيادة التعاون في مجالات الابتكار ونقل التكنولوجيا، والتنوع الاقتصادي، وتبادل البيانات بشأن المعلومات ذات الصلة، ومجالات التعليم والعلوم والتكنولوجيا، والطاقة المتجددة والمياه، و قطاع النفط والغاز، والمجال الثقافي والإنساني. كما سيعمل الجانب الصيني خلال الملتقى على عقد المزيد من الاتفاقات، خصوصاً في مجال التجارة البينية، للاستفادة من الموقع الاستراتيجي لدولة الإمارات العربية المتحدة باعتبارها بوابة عالمية وفرت إعادة تصدير ما يقارب 50 % من المنتجات الصينية التي تمر عبر الإمارات، إلى دول مجلس التعاون الخليجي وإفريقيا وأوروبا. ويوجد في دولة الإمارات العربية المتحدة أكثر من 4200 شركة صينية، جذبتها الفرص الاستثمارية المتنوعة التي توفرها القطاعات الاقتصادية الحيوية، كما تحتضن 200 ألف من المقيمين الصينيين، كما توفر الإمارات العربية المتحدة تأشيرة دخول مباشرة للمواطنين الصينيين حيث تسهم بشكل كبير في رفد القطاع السياحي والتبادل الثقافي. يعتبر ملتقى الاستثمار السنوي أحد أكبر التجمعات الاستثمارية في العالم، حيث تمكن من تعزيز مكانته كمنصة تستند إلى المعرفة، وتتيح للمستثمرين من شتى القطاعات الاقتصادية، فرصاً مثالية للاطلاع على آخر المستجدات التي تتعلق بحركة الأسواق العالمية ومؤشرات اتجاهاتها، لتحديد واستكشاف أبرز الفرص الاستثمارية، كما يستضيف الملتقى نخبة من المسؤولين ووزراء الاقتصاد، والإكاديميين الاقتصاديين إلى جانب مجتمعات الأعمال من شتى أرجاء العالم.

PRESS RELEASE

 (العربية)  
 

With US $70 billion non-oil trade with UAE by 2020

China looking to expand its investment through participation in Annual Investment Meeting

The United Arab Emirates has managed to achieve a qualitative leap in its economy during the recent years due to the adoption of forward-looking strategy and in anticipation of strategic plans for the future. This move has strengthened UAE’s position on the map of world economy.

UAE enjoys privileged relations with various countries of the world, particularly the Republic of China. Volume of non-oil trade between UAE and China is expected to reach $70 billion by 2020.

The bilateral relations between China and UAE have witnessed a remarkable stature with the exchange of official visits between the two countries. This has resulted in the conclusion of cooperation agreements and the drafting of frameworks of economic partnerships. These efforts aim to open the doors for new and long-term economic partnership reinforced by mutual interest by participating in various economic events organized by two parties. Thus, China’s participation to the ninth edition of the Annual Investment Meeting which is taking place on 8-10 April 2019 at the Dubai World Trade Centre.

The participation of the economic giant in the forum, which carries the theme ‘Mapping the Future of FDI: Enriching World Economies through Digital Globalization’, will focus on investments and on various available resources to achieve sustainable development within the parameters of China’s strategic plans.

AIM will provide an opportunity for both sides to strengthen economic cooperation and trade relations. In 2017, non-oil trade volume between the two countries exceeded the $53 billion mark. China has also infused direct investment into UAE in the amount of $2.8 billion by the end of 2016, an increased of 33% spread across sectors including wholesale and retail trade, financial and insurance services, real estate, construction, transportation, storage, and others.

Abdullah Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade, said, “The UAE continues to improve its investment climate by introducing new legislation and policies suitable for business, through the support of a favourable investment environment. This is to attract more foreign direct investment inflows, especially from China, which is seeking to expand its business and investment in the regional markets.

Al Saleh added, “The strong economic relations between the UAE and China, backed by strong political will to support mutual economic growth and sustainable development, has been further strengthened by high-level visits made by the leaders of the two countries. The Annual Investment Meetingh plays a vital role in promoting this healthy trade relations and in opening a broader dialogue, exchange of opportunities and information, and to discuss aspects and extent of cooperation. The forum aims to establish investment partnerships that will serve the development goals of participating countries by providing an opportunity for the exchange of visions among governments and the private sector to establish strong economic structures for investors and to link opportunities for sustainable economic growth.

Through joint meetings, the Chinese companies will seek to increase cooperation in the fields of innovation and technology transfer, economic diversification, exchange of data on relevant information, education, science and technology, renewable energy and water, oil and gas, culture and arts.

China will also seek to secure more agreements, especially in the field of intra-regional trade, to take advantage of the strategic location of the UAE as a global gateway for re-exporting 50% of Chinese products to GCC, Africa and Europe.

More than 4,200 Chinese companies are based in the UAE, lured by diverse investment opportunities UAE provides spread over its vital economic sectors. UAE also offers Chinese citizens, who have reached 200,000 in residence in UAE, visa upon arrival which has contributed significantly to promote tourism and cultural exchange.

The Annual Investment Meeting is considered as one of the largest investment forums in the world. It has strengthened its position as a knowledge-based platform that will offer investors from various economic sectors the opportunity to learn about the latest trends in the movement of global markets and the trends to identify and explore the most important investment opportunities. The forum will be attended by senior officials, ministers of economy, economists, and business communities from the around the world.

The Dubai Land Department (DLD) recently organised the "Dubai Real Estate Sector Profile" forum to announce the performance report of the real estate sector over the past years, and the role of data in enhancing the transparency of the sector.

The forum included the launch of the "Deraya" report and the annual performance report of the real estate sector 2018.

The "Deraya" report was initiated by the Department of Real Estates Studies and Research of the Real Estate Promotion and Investment Management Sector at the DLD, in collaboration with Jones Lang LaSalle Incorporated (JLL) and Cavendish Maxwell, and the annual report of the real estate sector performance 2018.

These reports contribute to enhancing Dubai's real estate market, positioning it as the world's leading real estate market.

According to the JLL Global Real Estate Transparency Index 2018, Dubai was among the top three global cities regarding real estate market transparency.

DLD director-general Sultan Butti bin Mejren said these reports provided a key database for media, investors and international classification agencies to access insights on the performance of Dubai’s real estate market with complete transparency.

"We seek to achieve some key objectives through these reports and highlight the role of the real estate sector and its close ties with other economic sectors. The reports underline the importance of the real estate sector as a productive element that supports all other economic sectors, reflecting positively on the real estate sector’s growing contributions to Dubai’s GDP," stated Bin Mejren.

"The current real estate sector enjoys several positive indicators that predict growth across many of its segments, supported by the annual report of the real estate sector and the 2018 Deraya report, which represents integrated strategic cooperation between the public and private sectors," he added.

The reports are also a testament to Dubai’s status as one of the world’s top attractive investment destinations that ensures investors future high yields, said the top official.

"The reports offer a deeper insight into the performance of Dubai’s real estate sector in 2017, furthering the transparency level across the sector. They are aimed at increasing professionalism across Dubai’s real estate environment, consolidating the real estate information sources, and elevating DLD to become the leading real estate reference," remarked Bin Mejren.

"The reports also work towards bolstering the attractiveness of Dubai’s real estate market, identifying market trends and needs, and providing real estate studies companies and real estate experts access to relevant data," he noted.

Majida Ali Rashid, CEO of the Real Estate Promotion and Investment Management Sector at the DLD, said: "We are proud to have cooperated with two of the world's leading companies, in line with our commitment to engage our partners and customers."

"The launch of Deraya, our joint research initiative, is part of our collaborations with real estate consultancy companies and experts in the field of real estate studies," she added.

Source: Trade ArabiaArabia

The article provides a brief overview of the new FDI Law that offers an arrangement for the UAE Cabinet to allow foreign shareholders to own up to 100 per cent of companies in selected sectors.

To carry on business “onshore” in the UAE, a company established under the UAE Commercial Companies Law has to be at least 51% owned by a UAE or 100% by GCC national. For some foreign investors, particularly those unfamiliar with the region, this inability to have full legal ownership and control has been seen as a barrier to entry or limitation on their business in the UAE.

This article highlights some of the principal of the new Foreign Direct Investment Law No. 9 year 2018 (“FDI Law”) and the impact that it will have on the foreign investors.

As per Article 6 of the FDI Law, a new Foreign Direct Investment Committee (“Committee”) is to be set up. This Committee shall be in charge of the following:

• Issuing the Approved Activities List for foreign direct investors (“Positive list”)
• Making amendments to the Negative List for foreign direct investors
• Approving licensing applications
• Deciding the benefits for foreign direct investment projects

Positive list

The Committee will be responsible to prepare “positive list” to the UAE Cabinet which will set out the economic sectors in which greater levels of foreign ownership will be permitted (more than 49% of the share capital). When determining the positive list, the FDI Committee must take the following into account:

• integration with strategic plans of the UAE;
• achieving the best profit and added value to the UAE economy;
• raising innovation and providing job opportunities and training for UAE nationals;
• limiting negative effects on incumbent UAE companies that conduct a similar activity;
• the foreign investor’s level of competency, expertise and international renown;
• the best use of modern technology; and
• achieving a positive impact on the environment.

Negative list

Higher levels of foreign investment will not be permitted in any sector that appears in the “negative list” set out in the FDI Law. The sectors that are currently listed in the negative list pursuant to Article 7 of the FDI Law are as follows:

• Oil exploration and production;
• Investigation, security, military (including manufacturing of military weapons, explosives, uniforms, and equipment);
• Banking and financing activities;
• Insurance services;
• Pilgrimage and umrah services;
• Certain recruitment activities;
• Water and electricity services;
• Fisheries and related services;
• Postal, communications and other audio-visual services;
• Land and air transportation;
• Printing and publishing;
• Commercial agency;
• Medical retail trade such as private pharmacies; and
• Poison centres, blood banks and quarantine.

Sectors not appearing on the positive or negative lists

If a foreign company wishes to carry on a foreign direct investment project which does not appear in either the positive or negative list, it may apply for permission to have a higher level of foreign ownership than 49 per cent in that sector. The FDI Law sets out the process to be followed in the event of such application.

Obligations of the FDI Company

As per Article 13 of the FDI Law, the FDI company must:

• Comply with all local and federal laws in relation to environmental health, pollution management, and general public health;
• Practice only the commercial activities mentioned in its license;
• Comply with the Emiratization quota (details of which will be issued separately by the ministry of economy);
• Keep accurate accounting records;
• Appoint authorized auditor(s) for a one-year renewable period, up to a maximum of six years;
• Comply with the relevant authorities’ requirements regarding the FDI company’s projects which the authorities may request from time to time;
• Notify the relevant authorities when the FDI company’s projects commence within 5 days.

Although the FDI Law excludes the companies incorporated in free zones, it is worth mentioning that recently the economic departments in the UAE have released a list of activities that can be carried out onshore by companies established in free zones.

Source: Bonnard Lawson

This page throws light on the advantage of investing in the UAE which include: strategic location, state-of-the-art infrastructure, variety of business premises, political stability and more.

Advantages

The UAE has the advantage of:

• Strategic location
• State-of-the-art infrastructure
• Variety of business premises
• Political stability
• Social stability
• Ease of doing business
• Protection of intellectual property rights
• Favourable business regulations
• Open economy
• Economic stability
• No corporate tax.

Strategic location

The UAE is blessed with a strategic location between the east and west, which makes it accessible to major emerging economies, linking shipping routes and facilitating goods' transportation between the various regions in Middle East, Asia, Europe and Africa.

State-of-the-art infrastructure

The UAE provides advanced infrastructural facilities in all fields. In March 2016, Dubai announced to set up the world's biggest wholesale city , with an investment of AED 30 billion. The city, which will occupy an area of 550 million sq ft aims to help the UAE acquire a significant share of the global economic sector, estimated at USD 4.3 trillion. The city will be linked with Jebel Ali Port and Al Maktoum International Airport and will provide logistical support that will fully link with four continents.

Refer to the infrastructure section for more information.

Variety of business premises

The UAE offers endless choices of business premises and locations. According to your business activity, you are at liberty to choose a place appropriate for operation whether on the mainland or in a free zone.

You can set up your business in:

• plush business centres
• fancy shopping malls
• state-of-the-art commercial furnished buildings and towers
• industrial areas
• free zones specialised in a range of industries from logistics to media, power and information technology.

Political stability

The UAE is a model of political stability. Since its formation in 1971, the UAE has been a successful constitutional monarchy and continues to be so. This is because of the belief system of the UAE's Founding Fathers in peace and justice and the continued belief of the present political system and government in the same.

As per Al Bayan's report , the UAE has 102 diplomatic missions abroad which include 80 embassies, 18 consulates and 4 permanent missions. There are 199 foreign diplomatic missions in the UAE which include 110 embassies and 73 consulates.

The UAE is a member of Gulf Cooperation Council (GCC), Arab League and the UN and its agencies. According to the Global Peace Index 2016, the UAE is the third most peaceful country in the region.

Social stability

Despite the presence of a large foreign community in the country, the UAE is a safe place to work in and develop your capital with favourable living conditions and quality of life. The UAE Government emphasises on tolerance in the society. Moderation and acceptance of others are innate in the UAE culture.

With 110 crimes , the UAE had one of the lowest level of violent crimes in the world in 2015. The UAE ranked 9th among countries with lowest crime rates and 4th concerning assault offences in general. These rankings are better than many advanced countries around the world.

Ease of doing business

According to the Doing Business 2019 report, the UAE scored 11th rank globally and 1st rank regionally. The UAE scored impressive ranks in the following indices:

• Getting electricity - 1st rank
• Paying taxes - 2nd rank
• Dealing with construction permits- 5th rank
• Registering property – 7th rank
• Enforcing of contracts - 9th rank
• Protecting minority investors – 15th rank

Protection of intellectual property rights

It maintains protection of intellectual property rights, trademarks and it has enforced laws against piracy.

Favourable business regulations

The UAE signed major business international treaties to encourage business and foreign investments. It maintains tightened export control laws to prevent the movement of illicit goods as per Federal Law No. 13 of 2007 concerning Goods Subject to Import and Export Control.

Open economy

The UAE has its own regulations which prohibit monopoly and encourage competition. The UAE encourages private sector growth and maintains liberal policies in terms of foreign exchange controls, visa policies and import regulations. The UAE has strong ties with key trade associations to strengthen its position as an open economy and player in the international trade and competition.

The UAE:

• is a member of the World Trade Organization ( WTO) since 1996
• is a party to the General Agreement on Tariffs and Trade ( GATT) since 1994
• is a member of the Greater Arab Free-Trade Area ( GAFTA) in which all GCC countries participate
• concluded Free Trade Agreements with Singapore and the EFTA bloc in 2008 and 2009
• is cooperating with the GCC countries to conclude the Free Trade Agreements with the EU, Japan, China, India, Pakistan, Turkey, Australia, Korea and the Mercosur bloc comprising Brazil, Argentina, Uruguay and Paraguay.

Source: UAE Government Website

115 UHNWIs, family offices, wealth managers to gain knowledge from industry-leading experts on the evolving global wealth market trends

Press Release

28 December 2018, Dubai, UAE: The Dubai Family Office Forum will reveal investment trends as it holds its 4th edition on 5-6 February 2019 at The Palace Downtown in Dubai, United Arab Emirates. Around 115 ultra-high net-worth individuals (UHNWIs), family office investors and business leaders across MENA will benefit from relevant insights shared by thought leaders, analyses on case studies, and roundtable discussions.

The exclusive annual Dubai forum, which represents more than $2 trillion in investor wealth, will be an ideal platform to explore best practices in family governance and investments. The forum will also highlight impact themes and discussions which will be led by more than 40 renowned international thought leaders, family office principals, and global industry experts.

Prestel & Partner, the global leader in family office forums, is organizing the event in Dubai with topics and investment agenda specific to the interests and concerns of UHNWIs and family offices based in MENA region. Katja Muelheim, managing partner, Prestel & Partner, said, “We are so honoured to be back in Dubai once again and to always receive such a warm welcome. Our Family Office Forums have earned such a good reputation internationally and we are proud that the families attending find these forums so interesting and informative.”

Prestel and Partner has been hosting six other successful international private forum each year, specifically, in Singapore, Wiesbaden, San Francisco, London, and Zurich. Each forum is widely attended by UHNWIs and family offices which by Prestel and Partner’s definition should have a minimum of £150 million in assets from only one or few owners, and a family office works for these families and not as a solution provider to many third parties.

The forum is exclusively designed for family principals and family members, C-suite family office executives of single and private multi-family offices, UHNWIs, and private investors. Family offices and private investors who have nothing to sell attend for free.

Those who offer relevant products or solutions may attend by purchasing one of the limited tickets. Only a few commercial multi-family offices, family office advisors, and industry-leading solution/service provider firms are allowed to join and enrich the conversations with their topical expertise. To purchase such a ticket or to register your interest as a sponsor may send an email to This email address is being protected from spambots. You need JavaScript enabled to view it..

Host country UAE, according to Global Wealth Migration Review, is home to 1,660 ultra-millionaires with net fortune of at least $30 million and 240 individuals with net worth exceeding $100 million. As most countries in GCC are focusing on diversifying their economy, UHNWIs are likewise intent to grow their portfolio while paying particular attention to succession planning and transition of wealth.

Tobias Prestel, managing partner, Prestel and Partner, said that these issues come with relevancy and thus would be a significant part of the forum. “Our leading experts will discuss a sustainable future and co-investments between families, in addition to investments in healthcare and real estate. It’s an ever-changing focus and we are looking forward to welcoming so many prestigious families from MENA region to join us once again.”

Family Office Forum Dubai is ably supported by the UAE Ministry of Economy and Strategic Marketing and Exhibition, a leading exhibitions company based in Dubai. The forum offers free registration to family offices and UHNWIs. For online registration, visit www.prestelandpartner.com. For inquiries and partnership opportunities, send email to This email address is being protected from spambots. You need JavaScript enabled to view it. or call +44(0) 20 339 71390.

Editor’s Note:

• The Family Office Forum Dubai is the annual meeting place of genuine family offices from the MENA region held in English.

• The Family Office Forum Dubai has a simple formula: more family officers and principals on stage than solution providers; ore family officers and principals in the audience than solution providers; and, top family offices, principals and CIOs from the Middle East and beyond are attending.

For press inquiry, kindly call or email:

Shereen Hassan Al Musalami

Media and PR Manager, Strategic Marketing & Exhibitions

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Mobile number: +971 56 4034071

Tel          : +971 4 392 3232

PO Box: 10161, Dubai, UAE

Blockchain has likely been the single most trending word in recent years, creating an unprecedented buzz the world over. Initially viewed with skepticism and widespread mistrust, today the technology is making waves in virtually all sectors of the economy, attracting huge amount of investment from both governments and private industries, and creating the potential to revolutionize business, money and people’s lives.

In recent years Dubai has been making headlines for its plans to become the world’s first blockchain-powered government. The Dubai Blockchain Strategy was launched by His Highness Sheikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, in October 2016, envisioning that Dubai becomes the world’s first-ever government to execute all applicable transactions using blockchain technology by 2020.

In line with this strategy, the inaugural Future Blockchain Summit was officially hosted by Smart Dubai Office, the entity recognized as the global first-mover in blockchain adoption, in partnership with Dubai World Trade Centre on 2-3 May in Dubai.

The summit brought together over 7,000 industry and technology leaders from across the globe, showcasing pilot projects and innovations from over 60 government and private organizations. In more than 70 engaging sessions, 60+ speakers deep dived into real-world applications across a range of sectors such as retail and e-commerce, creative economy, healthcare, transportation, education, food, hospitality and tourism, energy, fintech and banking as well as safety and security.

Furthermore, the Summit played host the grand finale of the Smart Dubai Blockchain Challenge, a startup pitch competition for blockchain-powered entrepreneurs, as well as complimentary workshops, such as Blockchain 101, designed to demystify blockchain technology.

According to IDC, spending on Blockchain in the Middle East and Africa will more than double in 2018 to $80.8 million, up from $38.9 million in 2017. By 2020, the global market for digital transactions will amount to $9.5 billion, with the global investment in blockchain technology poised to reach a staggering $300 billion. Through the Dubai Blockchain Strategy, the government aims to eliminate 100 million annual paper transactions, saving $1.5 billion annually in document processing alone.

This, however, is an ambitious target that comes with its own set of challenges, which is why SAEntrepreneurs spoke exclusively to the real experts in the field, and this is what they had to say:

“The vision of Dubai’s leadership is clear – to build Dubai as the Blockchain capital of the world. This is a commendable vision which confirms just how serious Dubai is very when it comes to Blockchain based implementations,” commented Moazzam Kamran, Global Head of Marketing, Avanza Innovations.

Moazzam Kamran, Global Head of Marketing

Avanza Innovations

With that vision in mind Avanza is helping build the technology of the future that will not only transform the city of Dubai but help it carry the flag of decentralization globally. The UAE-based Avanza Innovations describes itself as “a tech powerhouse” with key products and implementations across Blockchain, Artificial Intelligence, Smart City Enablement, RPA and Customer Engagement. The company is part of Avanza Group of Companies with 18 years of market experience and 300+ global customers.

Kamran reveals that the company’s objectives are aligned with the Dubai Strategy – to be ahead of the curve with respect to technology and help the city move past disruption and into the future. “We do this by employing the best talent and latest technology to build future-proof applications,” he explains.

But these are not just words. The company has already put its plans into action, and has already been achieving some tangible results. Avanza’s Blockchain Platform Cipher was selected by Smart Dubai Office to deliver a Pilot Project under the Dubai Future Accelerators (DFA) program in February 2017. Through Cipher, Avanza has successfully delivered an immutable, agile and instant reconciliation and settlement platform to Smart Dubai Office for DubaiPay payment platform. For its part, Smart Dubai Office plans to roll out Cipher across all its existing 38 partner government entities, partner financial institutions and Departments to set up the first blockchain based building block within its financial plumbing.

“Avanza is helping the Smart Dubai Office build a Recon and Settlement engine for the city of Dubai, said Kamran. “Dubai’s department of finance had a manual/legacy system that would reconcile and settle with all its internal entities in up to 45 days. With our help the city of Dubai now has a Recon and Settlement Engine that can do seamless reconciliation for DoF through the transformative power of blockchain,” he added.

Another interesting project that Avanza has undertaken is for a city-wide emergency nerve center for the Dubai Health Authority. With the help of AI and Blockchain technology, the platform is designed to assist route in-transit patients to hospitals that have the facilities available to cater to them. “This is a very small example of how the system will be saving lives. The entire concept is that minutes can save lives and through our tech and health based systems experience we can build a system that will achieve this mission,” Kamran explained.

He believes that Blockchain has the power to transform economies, with virtually all sectors poised to benefit from its transformative power. Avanza is currently engaged in projects in the following sectors – Banking and Financial, Governments, Healthcare, Transportation and Logistics, many of which were featured live at its booth during the Future Blockchain Summit.

Commenting on the challenges ahead, Kamran said with objective of Dubai’s Blockchain vision for both public and private organizations is to embrace the transformative power of blockchain and/or work with consortiums to get a better grip of the technology and evolve their operations to better cater to a much more receptive consumer.

“Every system that is being build is to raise the bar on what customers expect from service providers, be it Banking, Identity, Security etc. – there is a massive opportunity to reshape customer engagement through blockchain.” He added: “The risk/opportunity with the decentralized movement is that it will completely disrupt conventional processes and if organizations are not looking to evolve they will face massive growth challenges in the near future.”

Another blockchain trend setter and exhibitor at the Future Blockchain Summit weighed in the discussion, highlighting the enormous opportunities that the technology has to offer. “Blockchain creates a new concept that you may refer to as the internet of value and trust,” said Eng. Saud Alsehli, CEO and Founder, ArabianChain Technology.

Eng. Saud Alsehli, CEO and Founder

ArabianChain Technology

“Its main power comes from the decentralized ledger which holds an encrypted record of all transaction within that network, and that record is incorruptible, immutable, and transparent to all participant, thus removing the need for any trusted third parties to act as an intermediary for any kind of transaction.”

This elimination of the so called “Middle Man” is what enables the creation of a service that safeguards both value and trust. “By removing those third parties, we remove friction and cost and increase efficiency and trust of services provided in both public and private sectors,” Alsehli added.

On the back of this, he is confident of the great potential for adoption of blockchain in the MENA region, and is quickly to point out UAE’s 2021 Blockchain Strategy, which was only recently announced earlier this year, alongside Saudi Arabia’s adoption of blockchain as part of Saudi Vision 2030, and the innovative initiative by the Central Bank of Bahrain for a cryptocurrency exchange in the Arabian Gulf Kingdom.

“We believe that by adopting the technology in MENA we will be transforming the region to be able to provide better services for its citizens, create transparent environments to attract investment, generate new possibilities and jobs, and support the overall digital economy of the region,” Alsehli stated. The young entrepreneur is convinced that the technology is here to stay, and that its full potential is yet to be realized.

According to the young tech entrepreneur, “Blockchain is reshaping the way we approach digital services, trust, third party intermediaries, law, economy and many other things and that’s creating an uncharted field of innovation yet to be discovered, such discovery requires flexibility, agility and risk taking and those qualities are better positioned with startups more than it’s in established business. The opportunities are huge and we are at the infancy of this technologies adoption.”

ArabianChain was established out of the same aspiration – to drive blockchain adoption in the Arab economy, narrates Alsehli who founded the company in early 2017 with the mission to catalyze the blockchain revolution in MENA region. Considered the first public and decentralized blockchain in the Arabian Economy, the company offers a platform for smart-contracts development, tokenization and decentralized applications. But before ArabianChain opened its doors, Alsehli encountered some major challenges such as unclear regulations across the region, lack of technical resources, and lack of awareness from the public and business sectors alike.

He continues to identify the need for greater and more widely spread awareness and the availability of technical skills as some of the key gaps posing a threat to the larger scale adoption of blockchain in the region. “These need to be addressed by the relevant institutions, schools and universities to cater to this new technology and its future demand,” he explains.

Besides finding the right talent, Alsehli and his team are now focused on building their own proprietary technology like the ArabianChain Studio designed to allow for easy development of smart contracts. Another one is Galaxy wallet – the first multi-platform, multi-currency wallet in MENA, and Palmex – a Digital asset trading platform which is in the process to be one of the first regulated platforms for active trading in MENA. The company has also recently established an ArabianChain Academy which aims to increase awareness in both public and private sectors about blockchain and the opportunities it creates.

The next blockbuster markets for blockchain technology will be Saudi Arabia and UAE, according to Alsehli, who says the two neighboring countries have the biggest potential in terms of both application and value realization. The company’s market focus currently consists of UAE, Saudi Arabia, Bahrain and Jordan.

You can learn more about the Future Blockchain Summit on

www.futureblockchainsummit.com.