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Operation 300 billion – Focus On Sustainable National Economy
- March 30, 2021
- Posted by: Waqas Siddiqui
- Category: Business & Economy
No CommentsOperation 300 billion – Focus on Sustainable National Economy HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, has launched the Industrial Strategy “Operation 300 billion”, a 1…
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Digital Solutions Fueling the Growth of Businesses in UAE
- March 28, 2021
- Posted by: Waqas Siddiqui
- Category: Others
Digital Solutions Fueling the Growth of Businesses in UAE A report conducted by ‘Visa’ in UAE suggested that a significant …
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Dubai Masterplan 2040 Focuses on Improving the Quality of Life
- March 27, 2021
- Posted by: Waqas Siddiqui
- Category: Others
Dubai Masterplan 2040 Focuses on Improving the Quality of Life in Dubai The latest Dubai 2040 Urban Masterplan aligns with UAE’s vision for the next 50 years. The Plan is focused on enhancing people’s happiness and quality of life. The people-centric Plan focuses on reinforcing Dubai’s competitiveness as a global destination by providing a wide diversity of lifestyle and investment opportunities for residents and visitors over the next 20 years. Dubai 2040 Urban Masterplan, has created a development model that offers the best possible quality of life and creates the conditions for sustainable prosperity which draws its inspiration from global best practices and adapts them to local needs and requirements. The primary goal of the masterplan is to create a truly inclusive environment that not only meets the diverse needs of people residing in UAE, but also inspire them to tap into their creative and innovative capacities and realise their true potential. Dubai Masterplan 2040 – Measures to Improve Quality of Life The plan emphasises on upgrading and improving the efficiency of utilizing the resources in Dubai, developing vibrant, healthy and inclusive communities, and doubling green and leisure areas and public parks to provide a healthy environment for residents and visitors. Nature reserves and rural natural areas will constitute 60% of Dubai’s total area. Several green corridors will be established to link the service areas, residential areas and workplaces, facilitate pedestrians’ movement, bicycles, and sustainable mobility means across the city, in coordination with developers and government departments. The land area used for hotels and tourist activities will increase by 134%, while that used for commercial activities will increase to 168 square kilometres. Dubai will continue to be a global hub for innovative start-ups, international corporations, and strategic investments. The Master Plan will also increase the land area allocated to education and health facilities by 25%. The length of public beaches will increase by 400% in 2040 to increase residents and visitors’ quality of life. Dubai Masterplan 2040 – Impact on Dubai Economy The new Plan will raise the efficiency of development and promote the infrastructure’s optimal utilisation by developing vacant urban spaces. It also seeks to provide sustainable and flexible means of mobility and foster greater economic activity and attract foreign investments to new sectors. The plan will help raise the Dubai’s growing role as a pivotal business and trade hub, enhancing its attractiveness as an investment destination by leveraging its superior logistics infrastructure and contribute to Dubai’s efforts to mitigate the repercussions of the Covid-19 pandemic, accelerate the pace of its economic recovery and prepare the ground for a bright new post-pandemic world. Research Konnection assists local and international companies to set up or expand businesses in Dubai, Abu Dhabi and UAE. It is one of the top market research companies in United Arab Emirates specializing in Market Research, Market Entry & Feasibility Studies. Feel free to reach out to us on hello@researchkonnection.com…
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Importance of Conducting Market Research in Abu Dhabi
- March 25, 2021
- Posted by: Waqas Siddiqui
- Category: Others
Importance of Conducting Market Research in Abu Dhabi Abu Dhabi Economic Outlook – 2021 Abu Dhabi is considered the wealthiest emirate in UAE, in terms of per capita income and Gross Domestic Product (GDP). The estimated GDP for the year 2020 was approximately AED 1.47 trillion (USD 401 billion) which contracted by 7.5% compared to 2019, as result of lower oil production and COVID19 outbreak. The GDP Per Capita for the same period accounted for AED 160,000 (USD 43,005). The economy is expected to grow at a rate of 2.2% between 2021-2023. Abu Dhabi injected approximately AED 50 billion (USD 14 billion) in 2021 to support small local businesses, research and development, tourism and entertainment industries to increase the GDP contribution of the non-oil & gas sector. The government aims to boost the private sector’s contribution to Abu Dhabi’s GDP from 32% in 2019 to 37% in 2021. Importance of Market Research in Abu Dhabi The ideal platform provided by the Emirate has made the environment highly competitive, where businesses compete on quality, price and most importantly the market information. In order to succeed in Abu Dhabi, better understanding of consumers, market and competition is required for companies (new and existing) to make key business decisions. Advantages of Conducting Market Research – Abu Dhabi Developing Effective Business Strategies With the help of a comprehensive market research exercise (i.e. surveys & interviews, business plan and feasibility study), companies can identify potential opportunities, evaluate market demand and devise an effective business strategy. Understanding Market & Competition Market research helps companies in analyzing the latest market trends, competition and consumer behavior in Abu Dhabi, Dubai, United Arab Emirates (UAE) and the Gulf region. Understanding Consumer Behaviour Market research helps companies in understanding consumer behavior and trends better. With the help of market research, businesses can better understand consumer needs and wants and accordingly position themselves in the market. Most importantly, an effective market research allow businesses to understand the following: Target Audience Profiling – Identify customers Market Segmentation – Identify niche / segment in the market Market Positioning – Position business considering target audience / market segment Marketing Mix – Plan effective product / service offering Pricing Strategy – Understand key price points Evaluating Return on Investment (ROI) Conducting Market research in Abu Dhabi helps companies in better understanding return on their investments. By evaluating the market demand of products and services and through competitor scanning, market research allows companies to ascertain the business potential. Through in-depth market research, companies (existing and new) can not only reduce the risks associated with the investments but also benefit from increased revenues and profitability. Need For Conducting Market Research – Abu Dhabi COVID-19 has impacted almost all the sectors in Abu Dhabi and has made the market highly volatile and uncertain. The unpredictable conditions have further increased the need for conducting market research to be highly critical for the long-term success of any business. Organisations that fail to conduct market research tend to drown. Though some organizations conduct internal research, they tend to lose sight of the consumer market research that is required for the growth of their business. By imparting right knowledge and suggesting practical solutions, market research companies can enable business not just to accelerate their growth but also mitigate potential business risks. Therefore, it becomes essential for businesses (new and existing) to conduct in-depth market research and use information / insights to make key business decisions. Research Konnection is one of the best market research companies in Abu Dhabi and UAE. Please feel free to reach out on waqas@researchckonnection.com to discuss about successfully entering the UAE market, Market Research, Business Plan Development, and Business Setup or Expansion. …
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Master Plan 2040 to Enhance Dubai’s Reputation as an Economic Hub Globally
- March 21, 2021
- Posted by: Waqas Siddiqui
- Category: Business & Economy
Dubai Urban Master Plan 2040 In order to further enhance Dubai’s appeal to investors, visitors and residents, Dubai has launched the 2040 Urban Master Plan, a roadmap for sustainable urban development in the city. The masterplan was designed by H.H. Sheikh Mohammed bin Rashid Al Maktoum, V.P. and P.M. of the UAE and Ruler of Dubai. The plan focuses on using the available spaces within the city limits and concentrates on development in existing urban areas. The major focus of Dubai 2040 urban master plan is to develop the five urban centres namely Deira & Bur Dubai, Marina & JBR, Business Bay & Dubai Downtown and Expo 2020 Centre & Dubai Silicon Oasis Centre. Initiatives such as infrastructure development and new property development will be carried out raising Dubai’s reputation globally as a business and financial hub. Furthermore, the implementation of 2040 Master Plan will strengthen Dubai’s resilience toward global challenges. Impact of Dubai 2040 Urban Master Plan – Tourism & Hospitality It is estimated that Dubai’s population is set to reach 5.8 million by 2040 from 3.4 million in 2021, and the 2040 urban masterplan will provide the groundwork for how the city can grow sustainably over the next 20 years, accommodating the needs of the growing population. Under the plan, the land area used for hotels and tourist activities will increase by 134%, while the land used for commercial activities will increase to 168 Sq. kms. While Dubai will continue to be a global hub for innovative start-ups, international corporations and an ideal platform for Foreign Direct Investments (FDI), the master plan will also increase the land area allocated to education and health facilities by 25%, while the length of public beaches will increase by as much as 400% in 2040. Easily accessible integrated service centres will be established across Dubai while the plan also seeks to raise the quality of life of the city while increasing population densities around key transit facilities. Read: Dubai Extends the Freeze on Government Fees to Support Local Economy and Businesses Investment Opportunities in Dubai The people-centric plan focuses on reinforcing Dubai’s competitiveness as a global destination for investment, by providing a wide diversity of lifestyle and investment opportunities for citizens, residents, visitors and addressing all their growing needs over the next 20 years. It will also enhance Dubai’s investment appeal and attract fresh investments into all the sectors. The plan will help raise the Emirate’s growing role as a pivotal business and trade hub, enhancing its attractiveness as an investment destination by leveraging its superior logistics infrastructure, including some of the world’s best ports and airports and maximising its ability to harness the vast talent pool available. The new master plan will help strengthen Dubai’s efforts to mitigate the repercussions of the Covid-19 pandemic, accelerate the pace of its economic recovery and prepare the ground for a bright new post-pandemic world. Read: Investors Positive & Confident about the UAE Economy Research Konnection is one of the leading market research companies in Dubai and UAE. Please feel free to reach out on waqas@researchckonnection.com to discuss about successfully entering the UAE market, Market Research, Business Plan Development, and Business Setup or Expansion. …
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UAE Foreign Exchange Industry Experts Positive of Economic Recovery in 2021
- March 18, 2021
- Posted by: Waqas Siddiqui
- Category: Business & Economy
UAE Foreign Exchange Industry Experts Positive of Economic Recovery in 2021 The year 2020 saw a drop in remittances value by 10-15%, because of the Covid-19 pandemic. Despite the drop in remittances value by 10-15% in 2020, the UAE’s foreign exchange industry executives remain confident in recovery mainly due to the increase in economic activity, Covid-19 management by the government and the return of expat workers to the UAE being the major contributing factors for the increase in remittance flows. Read: Investors Positive & Confident about the UAE Economy UAE Foreign Exchange Industry Experts View Khaleej Times conducted interviews with several industry experts who were positive that remittances and foreign exchange business will pick up in 2021. Joyalukkas Exchange – Antony Jos, MD – Joyalukkas Exchange & Treasurer at the Foreign Exchange and Remittance Group (FERG), expects growth in remittances this year on the back of a strong rebound in the economy, strong vaccination drive, firmer oil prices, Expo 2020 Dubai and the opening up of the Israel market to UAE businesses. Lulu Financial Holdings – Adeeb Ahamed – MD Lulu Financial Holdings said that the outlook for UAE remittances is positive for 2021 and the Lulu Group remains bullish in their views for the remittance and foreign exchange business. Ahamed said a revival of the economic activity will be a huge boost to the business along with Covid-19 management by the UAE government, the return of expat workers to the UAE and better job opportunities which will influence the remittance flows. Al Ghurair International Exchange – Imad Ul Malik, GM – Al Ghurair International Exchange & Joint Treasurer at FERG said that remittances from the UAE are expected to grow in 2021 as a result of the vaccination drive and opening up of the leisure and travel industry. Likewise, the opening of the leisure and travel industry is also an indication of the increased confidence in getting back to normality. The upcoming Expo 2020 will also reflect directly on the remittance industry in a positive manner. Orient Exchange – Rajiv Raipancholia, CEO – Orient Exchange, said there is uncertainty on the outlook and does not expect a return to pre-pandemic levels this year. However, he stated that if more projects were launched this year, there will be demand for more migrant workers, which would lead to a bullish outlook for remittances. UAE Coronavirus Cases Decreasing UAE was seeing a gradual decrease in the infection rates, as 52.46% of the population has received the Covid-19 vaccine according to the National Emergency Crisis and Disaster Management Authority (NCEMA) which is a positive sign and a step to recovery and resuming normal life in the country. Daily Covid-19 cases in the UAE dipped below 2,000 for the first time in more than two months, with 1,898 new cases reported on March 15. UAE Economic Recovery 2021 Strategy The post-COVID 19 will give rise to new business patterns with governments playing a key role in the national economy, leading to substantial investments in digital infrastructure, 5G networks, Smart Cities & Services, health, education and trade. The measures taken by the government to control the Covid-19 and vaccinate against the population, will accelerate the pace of economic recovery by increasing the willingness of international investors to visit the Emirates. Furthermore, Dubai extended the freeze on government fees to support the local economy and businesses. The decisions taken by the Dubai government, reflects the government’s supportive and investor-friendly environment which will continue even beyond Expo 2020. Even though the Expo will end on March 31, 2022, the investors and businesses that are operating in Dubai will continue to benefit from these supportive measures till early 2023. Research Konnection is one of the leading market research companies in UAE. Please feel free to reach out on waqas@researchckonnection.com for Market Research in Dubai & Abu Dhabi, Business Idea / Concept Validation, Business Plan Development, Business Setup or Expansion and UAE Market Entry….
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Abu Dhabi Targets Innovative Companies with AED 2bn Investment Programme
- March 16, 2021
- Posted by: Waqas Siddiqui
- Category: Business & Economy
Abu Dhabi Targets Innovative Companies with AED 2bn Investment Programme Last year, Abu Dhabi’s Investment Office planned to provide financial and non-financial incentive programmes with an estimated value of AED 2 billion (USD 450 million) from 2021 onwards, targeting innovative companies in high growth areas. Through this innovation programme, Abu Dhabi aims to show the world that it is open for business and is committed to entrepreneurship. Despite the funds from the innovation program being focused on all the sectors of the economy, the primary emphasis will be to allocate funds for start-ups, entrepreneurs, as well as SMEs (Small Medium Size Enterprise). The program will also provide non-financial incentives such as consulting services, connect the companies to potential revenue streams and provide them with opportunities to look at policy and how they may be able to participate in changing policy and regulations. Read – Abu Dhabi Government Support for SMEs demonstrates their importance to UAE Abu Dhabi Economic Stimulus Package targeting SMEs In addition to Abu Dhabi Investment program – 2021, several other initiatives were also introduced to support the startups and SMEs in the Emirate. One of such initiatives is the economic relief scheme which includes 16 Initiatives aimed at reducing the costs of living and supporting businesses in the emirate. Abu Dhabi’s Department of Finance collaborated with three of the emirate’s top lenders to expand the SME Credit Guarantee Scheme as part of Abu Dhabi’s economic stimulus programme. Under the deal with Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank and First Abu Dhabi Bank, the government will guarantee up to 80% of the value of the credit guarantee scheme to SMEs. Similarly, the investor-friendly initiatives that the government launched in 2020, following the outbreak of the pandemic has had a positive impact on the economic recovery and in the stabilization of the jobs in the Emirate. Read – Abu Dhabi Economic Report 2021 Investment Opportunities – Abu Dhabi With the initiative, Abu Dhabi has shown its commitment in reaching out to international investors to establish their presence in the Emirate. The latest supportive measures taken by the government will accelerate the growth in startups and international investments in Abu Dhabi and contribute to economic recovery. It will also reduce the cost of business operations for the existing companies, providing adequate time for the companies to recover, especially the SMEs in the aftermath of Covid-19 pandemic. Research Konnection is one of the top market research companies in Abu Dhabi. We have assisted clients across various sectors of the UAE economy including Food & Beverage, Education, Healthcare & Fitness, Real Estate & Construction and eCommerce sectors, and have received stellar reviews for our work. Feel free to reach out to us for support in Feasibility Studies and Business Plans in Abu Dhabi. …
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Dubai Extends The Freeze On Government Fees To Support Local Economy And Businesses
- March 15, 2021
- Posted by: Waqas Siddiqui
- Category: Business & Economy
Dubai Extends the Freeze on Government Fees to Support Local Economy and Businesses Dubai has extended a three-year freeze currently in place on fees charged for certain government services until 2023, accord…
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Abu Dhabi Government Support For SMEs Demonstrates Their Importance To UAE
- March 12, 2021
- Posted by: Waqas Siddiqui
- Category: Business & Economy
Abu Dhabi Government Support for SMEs demonstrates their importance to UAE Last year, the government of Abu Dhabi announced that they would allocate 15% of annual procur…
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Dubai Government Launches Innovative School Model
- March 11, 2021
- Posted by: Waqas Siddiqui
- Categories: Business & Economy, Education
Dubai Schools – A New School Model In the recent meeting organized at the Executive Council at the Dubai Police Academy, Sheikh Hamdan launched ‘Dubai Schools’, a new school model that provides an innovative …
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