The Dubai Chamber of Commerce and Industry signs Memorandum of Understanding with Oxford Business Group

458Dubai, 11 August 2014: Dubai’s two-fold campaign to step up preparations for the World Expo 2020 and increase the number of tourists visiting the emirate to 20 million by the same year will be detailed in a forthcoming report to be produced by the global publishing firm, Oxford Business Group (OBG).

The Dubai Chamber of Commerce and Industry has once again signed a Memorandum of Understanding (MoU) on research with OBG for the publisher’s forthcoming report on the emirate. Under the MoU, Dubai Chamber will assist OBG’s senior analysts with access to the firm’s resources for a third consecutive year to compile The Report: Dubai 2015.

The Report: Dubai 2015 will chart the construction work under way at Dubai International Airport and Al Maktoum International Airport at Dubai World Central, which is already providing a welcome increase in capacity. The publication will also shine the spotlight on Dubai’s efforts to encourage growth among small and medium-sized enterprises (SMEs) through incentives and initiatives, such as the setting up of business incubators.

H.E. Hamad Buamim, President and CEO, Dubai Chamber, said that the broad-based nature of the emirate’s recovery sits well with investors.

He said: “While 2013 brought heightened activity on the trade front and across Dubai’s tourism industry, we also witnessed positive performances in real estate, retail and manufacturing. I expect our partnership with OBG to look at what’s next for these areas of business and how investors can benefit in light of the opportunities arising from the build-up to Expo 2020.”

OBG’s Regional Director, Jana Treeck, said 2013 brought several indications that Dubai’s recovery was gathering momentum, led by the upgrades awarded to the United Arab Emirates (UAE).

“The decision taken by the New York-based MSCI Global Equity Indices last June to elevate the UAE from frontier to emerging market status was particularly significant and paved the way for other agencies to follow suit,” she said. “Our new report will explore the significance of the upgrades, with a focus on the new investment channels which are now available to the emirates. I am delighted that the Dubai Chamber of Commerce and Industry’s team will contribute to our analysis on this and other topics, which are of huge importance to them also.”

Renewed activity in projects previously hit by delays was another hallmark of Dubai’s financial turnaround, said OBG’s Country Director Basak Pasali.

“Investors will note with interest the new regulations governing the emirate’s property market and the introduction of business-friendly measures, such as the Dubai Smart Government initiative,” she added. “The strength of Dubai’s recovery, which comes as the emirate’s preparations for Expo 2020 begin in earnest, is evident; as I’m sure our research with the Dubai Chamber of Commerce and Industry will show.”

The Report: Dubai 2015 will be a vital guide to the many facets of the emirate, including its macroeconomics, infrastructure, banking and other sectoral developments. It will also contain a wide range of interviews with leading political, economic and business representatives, including the Secretary General of the Gulf Cooperation Council (GCC) Abdul Latif Al Zayani, Singapore’s Minister of Trade and Industry Lim Hng Kiang and the Director General of the Dubai Land Department Sultan Bin Mejren. The publication will be available in print or online.

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