Business & Economy
UAE CHINA SIGN 13 STRATEGIC DEALS TO STIMULATE ECONOMIC GROWTH
Chinese President Xi Jinping met leaders of the United Arab Emirates (UAE) to sign 13 strategic and bilateral cooperation framework agreement to further improve the trade relationship and explore investment opportunities across several industries that were mutually beneficial in boosting respective economies. Chinese President’s visit to UAE is seen a significant step as the two-way trade between the both countries already crossed Dh 128 billion ($35 billion) in 2017. With more than 200,000 Chinese citizens residing and 4,000 Chinese companies active in UAE, the agreement is expected to stimulate economic growth in both countries, especially in UAE.
With China being a global superpower playing an active role in stabilizing the international economy, the visit of the Chinese President Xi Jinping’s to the UAE is expected to further strengthen the ties between UAE and China. A series of high-level meetings were arranged in the three-days visit aiming to strengthen ties between the countries, increase trade and investment opportunities, and expanding cooperation in the field of education, energy, renewable energy, innovation, science, technology and logistics.
UAE & China Enhancing Economic Cooperation
The UAE and China signed a strategic cooperation framework agreement to improve the trade relationship and explore investment opportunities across several industries that are mutually beneficial in boosting their economies. In addition, UAE and China aim to organize conference under the title “Belt and Road” to enhance communication, boost economic cooperation and establish sustainable trade and investment partnerships. Both sides are keen to enhance cooperation in economic and trade and encourage a mechanism of visit exchange between business owners and entrepreneurs of both countries under the Joint UAE-China Economic and Trade Committee.
Over three decades, UAE and China has build strategic relationship which has yielded in a fruitful trade and investment opportunities for both countries. As a result, UAE is currently the second largest trading partner with China in the Arab region, acquiring more than 23 per cent of the volume of Arab trade. Not to forget, UAE also serves China as a re-exporting hub enriching China’s outreach to Middle East and African markets.
Chinese President Xi Jinping’s visit will further boost trade relations between both countries as there is high demand for alternative oil supplies in China to meet its long-term energy needs. Trade between the two countries has primarily been in hydrocarbons and other sectors that include construction, electronics, machinery, clothing, tourism and metals.
Enhancing Cooperation in Private Sectors
UAE and China also agree to enhance the role of private sector in both countries building partnerships in various economic sectors including education, innovation, technology, energy, renewable energy, food and artificial intelligence, logistics and transport. The two sides are keen on sharing knowledge in building special export-oriented economic zones, establish industrial projects and provide training to small and medium sizes enterprises to increase economic activity.
UAE China Energy Partnership
Abu Dhabi National Oil Company (ADNOC) and China National Petroleum Corporation (CNPC) signed a deal that would enable them to explore both upstream and downstream business opportunities that are mutually beneficial. ADNOC and CNPC will explore potential Chinese investment in a number of the planned downstream projects, including an aromatics plant, a mixed feed cracker and a new refinery. ADNOC will also partner with CNPC’s assets in China for international growth.
In the Upstream process, CNPC along with ADNOC will explore and develop six oil reserves located in Abu Dhabi and also establish a technology hub linked to the Al Yasat concession, in which CNPC has a 40 per cent of the shares. These initiatives has a potential to create more value from UAE’s Oil & Gas resources providing greater access to Chinese market, while on the other hand helps meet the expanding energy needs of China.
Chinese Tourists Growth in UAE
The tourists inflow from China has increased significantly in Dubai and UAE over the past few years. Dubai’s Department of Tourism and Commerce Marketing (DTCM) revealed that Dubai witnessed an increase in Chinese tourist by 41 per cent from 2016 to 2017 with the number of overnight Chinese visitors increased by 119 per cent since 2014. During the first two months of 2018, the number of Chinese travellers to UAE was recorded to be around 86,400. This accounted to 86.4 per cent of the overall visitors in 2017.
There are currently around 100 flights per week that connects UAE and China. On arrival visa is provided to Chinese tourists since the fourth quarter of 2016 which has resulted in tourists growth. By the end of 2021, UAE expects to increase the Chinese tourists inflow to 600,000 visitors on an annual basis. Based on the current trends, Chinese visitors are expected to play a huge role in realising Dubai’s Tourism Vision, which aims to welcome 20 million visitors per year by 2020.
Impact of the Partnership on UAE’s Economy
The new strategic agreements that has been signed between UAE and China are expected to open up several opportunities. China has been a large importer of oil and hydrocarbons from the region, with this new treaty signed between the two countries, UAE has also become an investment destination to expand its footprint across trade routes stretching through central Asia into the Middle East and Africa. With potential investments from the Chinese market, the economy of UAE is expected to improve further especially in the field of construction education, energy, renewable energy, innovation, science, technology and tourism.
The initiatives taken by the Dubai tourism authority such as signing a MOU with Huawei, to showcase Dubai’s key tourist attractions on Huawei mobile phones, partnering with WeChat (a Chinese social media platform with an estimated one billion average monthly users) to promote Dubai as a tourism destination and offering on-arrival visa to Chinese passengers will further boost the tourism growth in the country paving way for many investment opportunities in Dubai and UAE. Considering UAE’s distinguished infrastructure and strategic position as a major commerce destination, the visit of Chinese President is likely to stimulate bilateral trade and economic activity between both countries.
Research Konnection – Market Research, Feasibility Study & Business Plan Services Dubai (UAE) Research Konnection is a market research company in Dubai that assists local and international companies to setup or expand businesses in Dubai and UAE smoothly. At Research Konnection, we specialize in Market Research, Feasibility Studies and Business Plan Developments. Feel free to reach out to us on firstname.lastname@example.org…July 22, 2018
UAE Visa Reforms to Boost Economy & Attract Foreign Direct Investment
The UAE government has been proactive in promoting the country as a global business hub. Several major initiatives have been taken by UAE in order to enhance ease of doing business, boost investment confidence and stimulate business growth. In addition to the 10-years visa plan and 100 per cent ownership for foreign companies, new visa reforms to radically reduce the cost of employee visa have been implemented allowing private sector companies to recover an estimated Dh 14 billion ($3.8 billion). The initiatives allow them to improve cash flow and further invest in their business.
In a recent move, the UAE cabinet chaired by H.H. Sheikh Mohammed, Vice President and Prime Minister of UAE and the Ruler of Dubai, approved new strategic reforms to enhance UAE’s economic competitiveness by facilitating the private sector (new visa rules & insurance schemes) in the country. The new visa rules also aimed at making UAE and Dubai leading tourism destination among the transit tourists. The cabinet approved eight new strategies to enhance the competitiveness of the country.
UAE Government – Economic Competitiveness Initiatives 2018
- A new system to replace the bank guarantees required for private sector employee visa
- Releasing the current employee bank guarantees to the private sectors (Est. Dh 14 billion ($3.8 billion))
- Implementing new insurance policy
- Temporary visas for jobseekers for 6 months without the visa fees
- Entry free visa for transit tourists (48 hours) to boost tourism
- Two years visa scheme for outstanding and talented students
- Visa adjustment for individuals eliminating the need to exit and re-enter UAE
- Voluntary departure facilities for individuals that overstayed without imposing ban
Visa Reforms to Improve Cash Flow & Boost Economy
In a major move, the UAE government will replace the current employee bank-guarantee paid by the private sector employers (Dh 3,000 ($817)) to a comprehensive employee insurance scheme at Dh 60 ($16) on annual basis (covering work injuries and end of service benefits etc.). Through the initiative, businesses will recover an estimated Dh 14 billion ($3.8 billion), which will reduce the burden on private sector employers to manage capital requirements hence enabling them to improve cash flow and further invest in their business.
Visa Reforms to Boost Tourism & Support Job Seekers
One of the significant improvements in visa rules is the decision to exempt transit passengers from all entry fees for the first 48 hours. Additionally, a transit visa can be extended for up to 96 hours for a fee of Dh 50. The new changes are likely to boost tourism activities in the country with as many as 70 per cent of the total passengers passing through UAE airport are transit passengers. The passenger traffic at Dubai Airport reached 7.6 million in April 2018 with traffic from Eastern European, CIS and African countries showing growth while India, Saudi Arabia and UK being the top performers.
A new six-month visa will be introduced for job seekers who overstayed their visa, but wish to work in UAE. Facilities to voluntarily leave the country for people (without ban) who are overstaying will also be introduced. Likewise, several major reforms have been proposed in UAE, which includes number of visa facilitation for visitors, residents, families and individuals overstaying in UAE.
New Visa Rule to Foster Investment Environment in UAE
As one of the most diversified and developed economy in the region, UAE will continue to hold prominent placement amongst international investors. UAE’s incredible positioning amongst global investors also results from its political stability, higher transparency, nearly non-existent crime rates and a very cosmopolitan society, where nationals from over 200 countries reside in the country.
UAE will continue to remain an attractive investment destination because of its diversified and innovation driven economy. In 2017-18 Global Competitiveness Report published by World Economic Forum, UAE topped the Arab World and ranked 17th globally in the global competitiveness ranking. By the year 2025, UAE is expected to attract more than Dh257 billion ($70 billion) investments.
The new visa and insurance reforms along with the 10-years visa plan and 100 per cent ownership for foreign companies, is likely to make UAE more competitive and flexible, re-instate confidence of the private sector and stimulate business growth in the country. It will also attract more jobs and foreign direct investment in the country.
Research Konnection – Market Research, Feasibility Study & Business Plan Services Dubai (UAE) Research Konnection is a market research company in Dubai that assists local and international companies to setup or expand businesses in Dubai and UAE smoothly. At Research Konnection, we specialize in Market Research, Feasibility Studies and Business Plan Developments. Feel free to reach out to us on email@example.com…June 26, 2018
UAE GOVERNMENT INITIATIVES TO BOOST INVESTOR CONFIDENCE STIMULATE BUSINESS GROWTH
UAE’s decision to offer 100% ownership to foreign companies, 10 years Visa Rule to investors / knowledge specialists, unveiling of $13.6 billion economic package and slashing of government fees aims to improve ease of doing business, stimulate business growth and boost foreign direct investment in the country.
In one of the most spectacular decision, UAE has decided to offer 10 years Visa Rule to investors and knowledge specialist and 100 per cent ownership to foreign companies. The ten years VISA rule for investors and knowledge specialists will play a major role in pulling high caliber talents from the world attracting engineers, doctors, innovators, scientists, and other knowledge specialists in the times to come. In the times ahead, UAE plans to become a knowledge economy with high focus on higher education, innovation, and dissemination of quality knowledge.
Abu Dhabi $13.6 Billion Economic Stimulus Package
Abu Dhabi government announced a massive Dh 50 billion (USD $13.6 bn) package to boost the economy while Dubai announced series of new initiatives to boost investor confidence and ease pressures both on businessmen and Dubai residents. As a part of the plan, Abu Dhabi intends to create near around 10,000 jobs in public and private sector in next five years while exempting all new licenses from the need of physical office or workspace for two years.
Dubai Slashes Government Fees, Exempts Administrative Fines to Boost Economic Growth
Dubai government approved a stimulus plan by slashing aviation, real estate and hotel fees in order to enhance emirate’s competitiveness and its status as a major international tourist destination. As many as 19 fees related to aviation industry will be scrapped apart from reduction in market fees imposed by Dubai Municipality (from 5% to 2.5%) and waiving of 4% fee on property owners who fail to register real estate transactions within 60 days. On similar lines, hotel fees on sale value or hotel facilities / restaurants will be reduced from 10% to 7%.
In another initiative, both Abu Dhabi and Dubai government announced exemptions on administrative fines for at least the rest of the year to provide relief to existing businesses in UAE and stimulate business growth in the country.
UAE Key Economic Initiatives – 2018
- 10 Year Visa Rule Announcement for Investors & Knowledge Experts
- 100% Ownership for Foreign Companies (Business Owners, Entrepreneurs & Investors)
- US $50 Bn Economic Stimulus Package by Abu Dhabi Government
- Reducing Government Fees related to Aviation, Real Estate & Hotel Industry
- Exempting Administrative Fines for existing Businesses in UAE (Dubai & Abu Dhabi)
Impact of Key Government Initiatives on UAE Economy
The new decisions by the government are heralded as a revolutionary one, as it has the potential to attract unprecedented amount of investment and talent into UAE’s burgeoning economy. Numerous international trade consuls such as German, British, China, and others have welcomed the decision and said it can be a major game changer in the times ahead. There has also been a spurt in social media activities, as netizens have also welcomed the landmark decision with open arms.
Overview on Foreign Direct Investment in UAE
UAE is currently standing at an interesting junction of its economic trajectory with the World Bank ranking UAE 20th out of 190 countries in the 2018 Doing Business. The country has received over USD $11 billion in FDI in 2017 and is making strong progress towards building a robust and sustainable economy underpinned by larger investments into non-oil sectors.
Currently the non-oil GDP of the country is growing at the rate of around 3 per cent with sectors including but not limited to education, e-Commerce, healthcare, medical tourism, wellness, sustainable energy and IT & innovation emerging as high growth and potential sectors. As investment inflow will accelerate after the new VISA rule and series of other initiatives, it will be a major force in bridging the gap towards helping UAE realizes its long-term economic vision.
UAE – An Attractive Investment Destination
UAE has always been an investment friendly destination, even after the introduction of Value Added Tax (VAT), which compared other countries, is still minimal. Likewise, its attractive investment environment has been instrumental in its economic diversification. Today over 200 nationalities live in the country. It is the most preferred destination for international companies that are looking to tap into the MENA economy and wider regional economy that includes Africa and South Asia.
UAE has also developed world-class infrastructure in the form top quality airports, hotels, public facilities, and economic zones, which furthers its evolution as an international business destination. A robust existing framework in conjunction with such attractive rules can add a lot of value to the economic growth of the country.
The country is well positioned to become a knowledge hub in the Middle East and North Africa (MENA) region. It has strategically invested in world-class universities and innovation institutes. It has also developed dedicated economic zones for knowledge economy, design, creativity, innovative start-ups, and technological research. An attractive scheme to bring talent will be a shot in arm in its endeavors to become the epicenter of knowledge in the region. Following the rule, it is expected that more international entrepreneurs will come to UAE to leverage its upcoming infrastructure and favorable business environment to do business.
Research Konnection – Market Research, Feasibility Study & Business Plan Services Dubai (UAE) Research Konnection is a market research company in Dubai that assists local and international companies to setup or expand businesses in Dubai and UAE smoothly. At Research Konnection, we specialize in Market Research, Feasibility Studies and Business Plan Developments. Feel free to reach out to us on firstname.lastname@example.org…June 13, 2018
Future Blockchain Summit – Dubai
Blockchain is a digital ledger in which transactions made in bitcoin or other cryptocurrency are recorded chronologically and publicly.
The Dubai Blockchain Strategy was launched by H. H. Sheikh Hamdan, to collaborate between the Smart Dubai Office and the Dubai Future Foundation to explore and evaluate the latest technology innovations that demonstrate an opportunity to deliver more seamless, and impactful city experiences. Future Blockchain Summit was organized to create awareness and attract the international investors towards an evolving sector in the the Middle East & Africa (MEA) region which experts suggest will grow to nearly Dh 300 million (USD $81 million) by 2018.
The Future Blockchain Summit concluded at Dubai World Trade Centre between 2 – 3 May 2018. The summit brought together over 7,000 decision makers and visionary technologists from the globe to accelerate Blockchain applications in Dubai. More than 100 exhibitors participated in the event that were primarily local and international start-ups. Experts from around the world shared their in-depth knowledge on this disruptive technology, discussing the real-world applications and opportunities that Blockchain provides across several sectors including education, e-Commerce, Fintech, food & beverage, healthcare, retail, hospitality and tourism.
Future Blockchain Summit – Highlights
The summit offered informative sessions by Global leaders and experts in the industry. The summit also showcased pilot projects and innovative advancements from over 60 government and private organisations.
Prospect Blockchain Solutions – Microsoft
Microsoft showcased possible Blockchain solution implementation in different industries. They displayed “Blockchain on Azure” explaining ‘How is Blockchain transforming the energy industry’. They also showcased the potential to identity applications that might enable banks to provide customers digitally stored identity under ‘Know Your Customer’ theme. Microsoft partners in Gulf Avanza Solutions and Docswallet Digital Locker, explained how Azure cloud helped their Blockchain solutions.
Michael Owen Promotes Digital Celebrity Tokens
Michael Owen, former English footballer, participated in the Blockchain summit by teaming up with Global Crypto Offering Exchange (GCOX). He released his “OWN” Token in the summit addressed the participants of the event.
Insights on Dubai Blockchain Strategy
The Dubai Blockchain Strategy has an established roadmap for the introduction of Blockchain technology in Dubai and the creation of an open platform to share the technology with cities across the globe. The Dubai Blockchain strategy is built on three pillars of government efficiency, industry creation and international leadership.
Under this pillar, the new strategy will contribute to increased government efficiency by enabling a paperless digital layer for all city transactions, supporting Smart Dubai initiatives in the public and private sector.
The second pillar of the Dubai Blockchain Strategy is Industry Creation. The Dubai Blockchain Strategy will introduce a system for enabling citizens and partners to create new businesses using the technology. Under the new strategy, Blockchain will enable thousands of business opportunities in the private sector.
The third pillar of the Dubai Blockchain Strategy is International Leadership. In line with the third pillar, Dubai will open its Blockchain platform for global counterparts to enhance safety, security, convenience for international travellers to Dubai.
Market Outlook – Middle East & Africa (MEA) Blockchain Sector
Dubai has taken several initiatives in experimenting with the application of the Blockchain technology across various government functions to establish the world’s first Blockchain-powered city. These initiatives taken by the government initiatives have made the international technology community take note.
According to the reports published by industry experts spending on Blockchain solutions in the MEA region is set to grow from Dh 142.89 million (USD $38.9 million) spent in 2017 to Dh 298 million (USD $80.8 million) by the close of 2018. Through Blockchain Strategy, Dubai aims to eliminate 100 million annual paper transactions, saving Dh 5.5 billion (USD $1.5 billion) by reducing the document processing.
With major initiatives taken by the government to promote Blockchain in Dubai, the international technology community has shifted its focus towards Dubai and the MEA region. More than 40 per cent of the participants that attended the event were international investors and start-ups. The numbers are expected to increase further in the next summit (April 2019).
…May 16, 2018
Dubai to Focus on Seamless Transactions
Seamless is Middle East’s biggest and important event that provides an exhibition platform for payments, Fintech, e-Commerce and retail. This year’s event oversaw discussions major topics such as Fintech, Blockchain, AI (Artificial Intelligence) and Innovations. The event also provided a platform for tech companies to display their latest technologies that could facilitate and ease the process of online payments.
The 19th edition of the Seamless Middle East took place at Dubai World Trade Centre from 15th April to 16th April 2018 under the patronage of Lt. General HH Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior. The event was sponsored by Dubai Airport Free zone (DAFZA) and Wasl Asset Management Group aiming to make Dubai the most attractive and ideal e-Commerce destination. More than 350 international and regional companies participated in the event along with 10,000 industry professionals and tech enthusiasts. Several thought provoking dialogues and keynotes were exchanged throughout the event that helped the attendees to think beyond the obvious and prepare for the future.
Seamless Middle East – Event Highlights
The two day event was packed with a tight schedule. Conferences, Demos, exhibitions and visitor attractions on latest trends in e-Commerce, Fintech, Blockchain, AI Innovations and retail were organized in the event. Networking opportunities and award functions were also held. More than 300 speakers delivered thought provoking keynotes in the conference. Some of the major highlights of the events are listed below
The seamless Middle East provided “free to attend” conferences under “demos” that provided visitors unparalleled peer-to-peer learning opportunity. Some of the topics that were covered in demos are listed below.
- Digital Payments
- Migrating from EMV to Dual Interface
- Customer Conversion
- Digital Marketing
- Logistics & Fulfilment
- Building online Trust
The visitor attractions provided a platform to learn through interactive launches, showcases and interviews, located within the exhibition floor.
e-Commerce University – A one day programme devoted to helping entrepreneurs build, launch and grow a profitable e-Commerce business.
Fintech Showcase – A showcase of international and regional Fintech companies.
Launch Pad – A showcase of genuine innovation in latest products and services never before seen in the Middle East.
Start-Up Zone – Success stories of innovative e-Commerce companies over the past 12 months.
Pitch-offs – An opportunity for e-Commerce start-ups to pitch their products / services supported by Venture Capital funding of USD $500,000 for the top 5 – 10 ideas.
Several initiatives were taken by Seamless to accelerate the networking and business connections of the attendees.
Peer–2-Peer Roundtables – Interactive round table sessions
VIP Buyer Program – Networking with VIP delegates with with purchasing power of millions of dollar.
Connect with Jujama – Networking application for Seamless Middle East attendees.
Seamless Middle East – Exhibitors Highlights
Several major international and regional companies exhibited their products and services in the event. Among the 350 companies that participated in the event, 4 start-up companies were highlighted in the event for the most innovative solutions provided by them for the past 12 months. These “Industry Disrupting Start-Ups” are listed below:
Dave A.I – An innovative technology that reinvented the buying experience for customers in offline retail using state of the art Artificial Intelligence.
Akyasi – A new and unique mobile application which aims to facilitate a seamless and hassle-free experience for its users
Tinyclues – A leading AI-first Marketing Campaign Intelligence solution enabling
companies to generate additional revenue through intelligent campaign targeting and planning.
Snash – A mobile application that helps fast moving consumer good (FMCG) brands to access the basket size & identify consumer-purchasing habits.
Investment Opportunities in Dubai’s e-Commerce Sector
The Middle East region is witnessing a rapid growth in the e-Commerce sector, with UAE claiming 15th positing on the Euromonitor International’s Digital Consumer Index 2017.
UAE also ranks 1st in the Middle East and North Africa region (MENA) on digital consumer spending. According to the reports published by Dubai Chambers, e-Commerce will be a megatrend for businesses in the UAE in next few years.
The UAE’s e-Commerce sector is expected to be valued at Dh 36.7 billion by 2018 at a growth rate of 10 per cent annually. Dubai contributes around 40 per cent of the total value of e-Commerce sector in UAE.
With e-Commerce sector valued at Dh 10 billion, Dubai provides excellent opportunities for investment in the sector. Furthermore, the establishment of Fintech based companies in Dubai, the increasing demand for blockchain technologies, introduction of emPay (emcredit system for online cashless transactions) and the incentives / subsidiaries provided by the government for technology based companies provide an ideal platform for investment in e-Commerce sector in Dubai.
…April 21, 2018
The Restaurant Show Middle East – F&B Event Concludes in Dubai
The Restaurant Show Middle East is the region’s only dedicated event for restaurants, cafés and F&B outlets. The event provides an effective platform for owners, operators and professionals in restaurants, hotels and hospitality sector in the Middle East and North Africa region to showcase their products and services to the target audience.
Dubai – The 2nd edition of ‘The Restaurant Show Middle East’ concluded at ‘The Address – Dubai Marina’ on 15th April 2018. The two day event oversaw participation of 3,000 members and approximately 60 brands and exhibitors across 15 countries in the MENA (Middle East and North Africa) region. The event played an important role in gathering stakeholders from the restaurant building, designing, furnishing, equipping and technology sectors to meet, connect and exchange the knowledge of the Food & Beverage (F&B) industry.
Restaurant Show Middle East – Event Highlights
The event was inaugurated by Ms. Noura Abdulla Al Shamsi, Head of Food Permits Section, Dubai Municipality. Several workshops were held during the two day event, focusing on restaurant leadership and management. The latest techniques on effective implementation of best practices in a restaurant and other procedures to improve their skills in running the business were discussed in the conference.
Some of the other major topics covered in the event were:
- Challenges and Opportunities in the Middle East F&B Service Sector
- Expanding and Franchising F&B brand Locally and Internationally
- Restaurant Building and Design
- Restaurant Management
- Innovations in the Food-Service Sector
- Marketing Restaurants and F&B Outlets
The latest technologies and best practices followed by the market leaders were also discussed in the event. Technology companies such as “Foodics” and “Mobikon” displayed their latest POS (Point of Sale) solution that provided an integrated system to maintain inventory, schedule employees, maintain the loyalty program and e-Commerce at the same time. Interior designers such as “4 Space” displayed their latest restaurant designs and innovations.
The overall event was highly successful as it provided the decision makers in the industry to network, learn and gain insights on best practices to be followed to reaffirm their position as a market leader in the target sector.
F&B Sector Investment Opportunities in UAE & Dubai
The Food & Beverage (F&B) sector is one of the fastest growing sectors in UAE with an estimated value of Dh 47 Billion in 2017. The F&B sector is expected to further grow by 4 per cent annually, creating opportunities for growth in next 5-10 years.
One of the major contributors of growth is Dubai, which accounts for 43 per cent market share of UAE’s F&B sector. The current value of Dubai’s F&B sector is valued at Dh 18 billion nad has a growth rate of 10%.With nearly 10,000 restaurants in Dubai, the sector is expected to further grow because of the major F&B events such as “Gulf Food” and “Restaurant show Middle East”.
According to a report published by KPMG, healthy food options is the most trending segment in the F&B sector with 53% of the consumers preferring healthier food options. Other two major trending segments are Fine dining and Food Courts. The highly diverse and young demographics, per-capita income of Dubai (Dh 175,000) growing tourism and expanding economic infrastructure provide ideal opportunities for investment in restaurants, cafes and F&B outlets in Dubai.
…April 19, 2018
GETEX 2018 – Focus on Accelerating Development of Knowledge Economy in UAE
The Gulf Education & Training Exhibition (GETEX) is a major student recruitment event in the Middle East region. GETEX is considered to be an effective platform that helps educational providers achieve increased marketing visibility, meet their student admission targets, student enrolment quotas and successful student conversions.
The 30th edition of GETEX took place at the Sheikh Saeed Halls of Dubai International Convention Centre from 12th April to 14th April 2018. More than 250 leading universities and institutes across the North America, Europe, Asia and Australia participated in the event showcasing their undergraduate, postgraduate and occupational courses. The event attracted over 35,000 local and expat students who are actively looking for higher education, career development, and training opportunities.
GETEX – Event Highlights
The opening ceremony for 2018 GETEX event was initiated under the patronage of Ahmad Abdul Karim Julfar, director general, Dubai Community Development Authority. The importance of education was emphasized in the event as one of the basic pillars for sustainable development of the economy. GETEX provided an opportunity for both regional and global educational institutions to highlight their campus facilities, unique features and advantages in choosing their prestigious institution. It also provided an opportunity to assess the student trends and the most demanded course choices among them which helped the educational institutions plan their marketing strategies.
On the other hand local and expat students benefited by having a face-to-face interactions with the featured institution’s representatives and had an opportunity to compare different course offered by them. They also got to look at the campus facilities and engage in discussions that assisted them in making an informed decision on their educational needs.
Investment Opportunities in UAE’s Educational Sector
The UAE 2021 Vision focuses on making the country world’s most prosperous and forward thinking nation. This vision has emphasized the need for a complete transformation of the country’s education system that are in par with the international standards.
UAE and Dubai government has taken several measures to promote the education sector. Higher education in particular has received a major lift through these initiatives that provided a robust growth in the segment. The current growth rate of the education sector is estimated around 7.3 per cent in private and 5.3 per cent in public educational institutes.
By 2020, 123,564 student enrolments are expected in private universities while 61,551 students are expected to enrol in public universities.
UAE will continue to improve its infrastructure, offering pioneer quality of life and unparalleled business environment for citizens, residents and visitors alike. With the forecasted student enrolment and the government initiatives, UAE’s educational sector provides lucrative opportunities for investment.
…April 16, 2018
Acres Real Estate Exhibition 2018 to drive Real Estate Investment in the UAE
Acres Real Estate Exhibition Investment 2018 was held from 21 to 23 March 2018 at Expo Center in the Emirate of Sharjah (UAE). The 3-day event which concluded recently was thought to be a dynamic platform for highlighting the potential of Dubai and UAE Real Estate sector. Once again, the event has paved the way for property developers from around the world to uncover the most promising opportunities in the Dubai, UAE and Middle East markets.
Acres Real Estate Exhibition 2018 – Key Highlights
Acres Real Estate Investment Exhibition is one of the most influential property events in the world. It is also a suitable place to source real estate services, including engineering consultancy, construction expertise and architectural design solutions.
Acres 2018 enabled Real Estate professionals in the UAE to market their projects and services, and to stress out the unique investments opportunities that the UAE and GCC real Estate markets offers to investors. Moreover, the exhibition provided the Real Estate companies in UAE and the region with the opportunity to expand in the Asian and European market.
This year’s edition of Acres Real Estate Exhibition also promoted the synergy between the global Real Estate players by inviting developers, investors, landlords and marketing companies from all over the world to interact and learn from each other.
Investment Opportunities – Dubai and UAE Real Estate Sector
The U.A.E. is leading in economic diversification in the GCC region, with the real estate industry considered a key pillar of its economy. With an estimated value of US$250, Real Estate sector has a huge multiplier effect on the economy and therefore, is a big driver of economic growth in the Emirates.
Despite the crash in the oil prices, the U.A.E. economy has demonstrated its resilience and the important potential of its non-oil sectors. For the country’s real estate markets, the fall of global oil prices have made positive impact on the U.A.E.’s real estate market by bringing property prices down to more affordable levels. Therefore the overall investment environment has improved, offering more sound opportunities for investors to benefit from the potential of the UAE Real Estate market in the years to come.
By the end of 2018, the growth in the economy coupled with more affordable prices is expected to translate into steady performance and healthy trend in some segments, this is expected to provide Real Estate players in the Emirates with significant investment opportunities.
Research Konnection – Market Research, Feasibility Study & Business Plan Services Dubai (UAE) Research Konnection is a market research company in Dubai that assists local and international companies to setup or expand businesses in Dubai and UAE smoothly. At Research Konnection, we specialize in Market Research, Feasibility Studies and Business Plan Developments. Feel free to reach out to us on email@example.com[/vc_column_text][/vc_column][/vc_row]…March 29, 2018
Middle East Business and IT Summit Consolidates UAE’s Attractiveness to Global Investors
The Middle East Business and IT Resilience Summit, organized by the Continuity and Resilience (CORE) concluded on 11th March 2018 in Dubai, (UAE). The 7th edition of this conference aimed to bring in Dubai the world class and best practices in business and IT resilience.
Presentations and discussions covered proactive solutions to manage all stages of the Business Continuity Mamangement (BCM) implementation lifecycle including Business Continuity and IT Disaster Recovery, Crisis Management and Emergency Response, Safety, Information Security and Security.
In 2015, the United Arabs Emirates launched the UAE BCM Standard AE/SCNS/NCEMA 7000:2015 to ensure organizations in both public and private sectors are more resilient and and confident to handle data disruption. The work of this year’s Middle East Business and IT Resilience Summit capitalized on this achievement which directly supports UAE and Dubai’s vision to become a global investment powerhouse in the years to come.
Business & IT Resilience Summit 2018- Key Highlights
The summit featured expert insights and workshops geared toward the criticality and strategic value of BCM and IT Resilience as a revenue-generator that can help to enhance confidence, brand value, market share and protect organization reputation and assets.
Participants from UAE and Middle East had the unique opportunity to hear from global experts and to learn about the best practices for securing data and becoming digitally resilient. Some of the key topics discussed during the event included:
- Implementing BCM and IT Disaster Recovery
- BCM Integration with EHS, Crisis Management and Emergency Response
- Business Continuity Managers’ Action Plan to face a Cyber Attack
- System based on ISO 22301 & ISO-31000
- Emphasis on risk management system for organizations
- BCI Crisis and Incident Management
UAE & Dubai – A promising potential for FDI’s
As one of the most diversified and developed economy in the region, UAE will continue to hold prominent placement amongst international investors. UAE’s incredible positioning amongst global investors also results from its political stability, higher transparency, a growing demography and a very cosmopolitan society, where nationals from over 200 countries live together.
The UAE is well on the way to attract more than $70 billion (Dh257 billion) in industrial investments by 2025. With many positive investment programmes underway UAE is firmly on course to be the best performers in the Middle East over the next five years, thanks to its vibrant economy, ever expanding population base (9.5 Million – 2018) and influx of tourists that drives various sectors of the economy.
In 2018, it is expected that the process of diversification will be consolidated. Investments are expected to mobilize in key sectors and industries including sustainable energy, real estate & construction, healthcare, education, tourism (medical tourism) and manufacturing.
…March 18, 2018
Dubai Food Festival 2018 Promotes Dubai As An Emerging Culinary Destination Globally
Another successful season of Dubai Food Festival 2018 was hosted at Dubai International Convention & Exhibition Centre (DICEC) from 22 February to 10 March 2018. The festival organized by Dubai Festivals and Retail Establishment (DFRE), an agency of Dubai’s Department of Tourism and Commerce Marketing (DTCM) aimed to celebrate the diversity of Dubai’s culinary scene. Recently concluded, DFF 2018 served as a unique platform to promote and enhance Dubai’s reputation as an emerging gastronomic destination globally.
The festival provided both residents and visitors numerous opportunities to discover Dubai’s culinary offering which was influenced by traditional Emirati cuisine and the cooking traditions of more than 200 nationalities that reside in the Emirate.
DFF 2018 – Key Highlights
The 17-day festival featured a lineup of events and activities which included ; The Dubai Restaurant Week, Dubai Long Table, Dine with the Stars, Dubai Street Food Award, Thai Street Food Festival and the Etisalat Beach Canteen. Hidden Gems returns as part of Dubai Food Festival 2018 to shed light on the less known authentic ethnic eats in the Emirate.
In addition, the festival offered a series of masterclasses with international and local inspiring chefs, along with a panorama of family-oriented food and entertainment activities.
Many more unique exceptional gastronomic experiences were a highlight for the festival visitors, including Cafe Society: Beat the Chef Competition, Dubai International Kite Fest as well as annual favourite ‘the Taste of Dubai’.
In line with Dubai Tourism Vision 2020, DFF 2018 served as a unique platform to demonstrate Dubai’s fast growing food and restaurant sector, as well as an excellent opportunity to share UAE cuisine and hospitality with visitors from all over the world.
Investment Opportunities – Dubai & UAE’s Food and Tourism Sectors
The Middle East is one of the fastest growing food and beverage sector (F&B) markets in the world. The UAE’s F&B market share alone is expected to reach Dh 48.5 billion (US $13.2 billion) by 2018, according to the food experts. UAE which has the strongest economy in the region is increasingly seen as a lucrative market by international F&B brands and manufacturers. This growth is foreseen to provide global F&B players with excellent investment opportunities in the Dubai & UAE’s
Similarly, the outlook for the Dubai & UAE’s travel and tourism industry looks bright. In fact, Dubai is among the most promising markets in terms of Foreign Direct Investment (FDI) with investment in the travel and tourism sector amounting to be AED 26.2 billion (USD $7.1 billion) in 2017 and estimated to increase by 11 per cent 2018. Dubai’s efforts at diversification, coupled with preparations for the upcoming Dubai EXPO 2020 are likely to further boost tourism investments in the Emirate.
…March 15, 2018