Dubai – 6 December 2011: The Dubai International Financial Centre (DIFC), the financial and business hub connecting the region’s emerging markets with the developed markets of Europe, Asia and the Americas, today hosted “Developments Along the New Silk Road - Venturing with and Investing in Chinese Companies”, a high-profile conference in collaboration with Latham & Watkins. The event, held in partnership with Falcon Associates and Financial Times, took place in DIFC’s Conference Centre on Tuesday, 6th December 2011. It discussed the two-way trade & investment routes between the Middle East and China, and the means to deepen financial and economic relationships between the two regions.

The UAE is one of China’s top two trade partners in the Middle East, with bilateral trade expected to reach US$ 100 billion by 2015. Around 4,000 Chinese companies are operating in the UAE, utilizing the country’s favourable business environment to tap into new markets across the Middle East and Africa, while Dubai is home to 150,000 Chinese residents.

Opening the conference, Abdulla Mohammed Al Awar, CEO of DIFC Authority, said: “As the west decreases as a global superpower and primary consumer, new trade and capital market connections is seeing the emergence of a New Silk Road, led by China. This new road could see trade between Asia, Middle East, and Africa eclipse trade between developed nations and emerging nations, or even among developed nations.”

He added: “With the shift of global power to the East, I believe that DIFC is in a unique position to continue to contribute to the strong trade and investment links between Asia and the Middle East. We have been connected for centuries, let us revive the old and also start something new!”

Dr. Nasser Saidi, Chief Economist at DIFC, said: “The timing for such an event couldn’t be better. From the Great Financial Crisis a new global economic & financial geography is emerging. Today, the Middle East is the biggest exporter of crude oil and China is the biggest importer. , Over the past decade China has become the major trade partner of the GCC countries. A number of strategic initiatives are required in order increase the economic and financial integration and partnership between the GCC and China for the benefit of both parties. In particular, we need to re-orient our banking relationships towards Asia and China and the MENA and GCC countries need to prepare themselves for the coming of the Redback as a third global currency.”

Financial experts from leading regional and international companies discussed investments in China’s most promising sectors and the main drivers of China’s massive investments in the Middle East and Africa, and also debated whether China will take the necessary steps to allow the globalisation of the Renminbi. As part of the discussions on this topic, Dr. Saidi issued DIFC Economic Note 18, titled “The Redback Cometh: Renminbi Internationalization and What to Do About It”.

He added: “Despite the growing economic & financial international role of China, its currency, the Renminbi (RMB) remains largely a domestic currency.  There are increasing calls for the RMB to become an international payment, investment and reserve currency. However, the move towards internationalisation necessitates the development of an onshore capital market complemented by domestic policy reforms leading to a changed financial structure, with lower dependence on bank financing”.

A separate session at the conference looked into China’s global leadership in the green energy sector, and the opportunities for Middle East companies to joint venture with China on renewable technologies.

Private equity firms were also able to get valuable insights on how to get deals done in China through a dedicated session by leading industry professionals. In addition, the conference shed light on China’s long-term prospects, its potential transformation from an export and investment-driven to a consumer driven growth model and the underlying challenges it could face.

The conference also highlighted the UAE’s position as China’s gateway to the Middle East and Africa, and looked at Dubai’s role as a regional hub and what it really means to Chinese firms.

Speakers at the event included David Miles, Chair of Asia Practice, Latham & Watkins, Hong Kong; Abdul Kadir Hussain, Head of  Asset Management, Mashreq; Marios Maratheftis, Head of Research, Standard Chartered Middle East; Xiaodong Zhou, General Manager, Abu Dhabi Branch, Industrial and Commercial Bank of China (Middle East) Limited; Rowland Cheng, Office Managing Partner, Latham & Watkins, Shanghai; William Chen, Managing Partner, DT Capital Partners; Olivier Glauser, Co-founder, Board Member, CFO, Shankai Sports; James Kralik, Chief Executive Officer, Linden Street Capital; Matthew Miller, Managing Director, Peach Tree Far East Advisory; Mark McFarland, Emerging Markets Strategist, Emirates NBD; Villiers Terblanche, Office Managing Partner, Latham & Watkins, UAE & Qatar; Aaron Bielenberg, Senior Associate, Latham & Watkins, Dubai, and Co-Founder, Clean Energy Business Council ─ MENA; Faisal Rabee Al Awadhi, Director Demand Management, Supreme Council of Energy; Vahid Fotuhi, Director, BP Solar; Robin Mills,Head of Consulting, Manaar; Ian Zhu, Principal – China Environment Fund, Tsing Capital; EAllen Wang, Office Managing Partner, Latham & Watkins, Beijing; Chih Cheung, Managing Partner, C2 Capital Limited; Francis Killory, Vice President – Development in Asia Pacific, Jumeirah Group; Bryant Edwards, Chair of Middle East Practice, Latham & Watkins, Dubai; Stanley Chow, Partner, Latham & Watkins, Hong Kong; Nicholas Levitt, Head of Commercial Banking, HSBC Bank Middle East Limited.

Dubai, UAE: H.E. Hamad Buamim, Director General, Dubai Chamber of Commerce and Industry, provided the keynote address on the state of Dubai’s economy for the 5th Arabian Business Forum, held today at the Armani Hotel in Dubai.

His Excellency said that despite external pressures from the worsening European debt crisis and weak American economy, Dubai’s outlook was positive.

“As we come to the end of 2011, Dubai’s economy is on track to reach its forecast growth of between 3-5%, driven by trade and services sectors, specifically, tourism, aviation and retail. We are also cautiously optimistic about next year’s performance given current global pressures,” H.E. Buamim said.

H.E. Buamim said that despite global pressures Dubai’s exports and re-exports had increased. At the same time, tourism was thriving, with Dubai’s hotels seeing 80% occupancy in the first nine months of this year. Tourism is also driving growth in the retail sector, His Excellency said, which is supporting Dubai’s economic recovery.

His Excellency said that Dubai’s next phase of growth was likely to come from tourism and trade sectors, driven by new demand in the GCC, China, India and Africa.

Highlighting the importance of Africa as a potential driver for Dubai businesses, H.E. Buamim said: “One of Dubai’s key selling points is its strong network with high growth areas, particularly Africa and this continent will focus a lot of attention over the next six to 12 months.

“Dubai’s close proximity to Africa and its modern business environment make it the ideal gateway into and out of these markets. We are seeking to attract more African businesses to Dubai while at the same time working to establish strong bilateral relations to create more opportunities for Dubai businesses,” he said.

His Excellency said that Dubai was working hard to continuously improve its business environment and was due to approve shortly new laws or amendments to existing laws governing Competition, Foreign Investment, Arbitration, Intellectual Property, Companies, Industries and SMEs. He added that he hoped these would be introduced within the first six months of next year.

Following his keynote speech, H.E. Buamim answered questions from the veteran television presenter and journalist Andrew Neil, Chairman of ITP Group, the publishers of Arabian Business.

Dubai, United Arab Emirates;  Senior flydubai executives and members of the Russian Business Council in Dubai and Northern Emirates met today at the Dubai Chamber of Commerce and Industry to discuss the impact of increasing air links to emerging destinations in Russia on inter-country economic development.

Chaired by Ghaith Al Ghaith, CEO of flydubai and Dr. Igor Egorov, Chairman of the Russian Business Council, which operates under the auspices of Dubai Chamber, the meeting was attended by the media and Atiq Juma Nassib, Senior Director, Commercial Services Sector, Dubai Chamber. With the UAE increasingly being viewed as an ideal platform for Russian businesses to extend their reach to new markets, the roundtable was organised to examine the existing UAE/Russia trade and tourism relations and discuss ways in which to strengthen bilateral ties.

flydubai’s presence in Russia was highlighted as one of the foremost contributing factors to the growth of investment and economic development between the two nations. Dubai’s pioneering low cost airline recently doubled its network in Russia to four points with the addition of flights to Kazan and Ufa. The new routes along with existing destinations Yekaterinburg and Samara provide direct, affordable and convenient flights to the four cities that have had no or few direct air links previously.

Other noteworthy topics discussed were the UAE’s role as a platform for Russian businesses to extend their reach to new global markets; the key elements required to achieve successful market penetration in Russia; as well as the importance of increasing access to developing regions within the federation.

“Dubai offers Russian businesses an enormous opportunity to reach out to a global audience, given the city’s central location relative to emerging markets in Asia, Africa and Latin America. flydubai’s new and existing air links will play a critical role in not only expanding investment opportunities in both countries but in opening up fields for collaboration, including oil and gas; manufacturing; general trading; and media to name a few,” stated Dr. Egorov.

With its new routes to Ufa and Kazan, flydubai links Dubai to two of Russia’s most buoyant economic regions. The Dubai Chamber welcomed the expansion of the network as an important step in advancing bilateral ties between the UAE and Russia.

“Dubai’s high connectivity with the rest of the world is one of its advantages and a reason why the city attracts significant foreign investment. flydubai has played a major role in increasing Dubai’s status as an international business hub through its rapid network expansion to key emerging markets and we congratulate them on their achievements. And flydubai’s new routes to Ufa and Kazan will help provide even more opportunity to attract Russian investment and new business in Dubai,” said Mr. Nassib from the Dubai Chamber.

“Russia is ranked Dubai’s 38th top trading partner, with non-oil trade in 2010 worth AED 4.2 billion. Dubai offers Russian businesses a fertile environment for investments and partnerships and at present, there are 412 Russian partnership and ownership companies among Dubai Chamber’s membership – a figure we would like to see increase. The recently established Russian Business Council is doing an excellent job in representing the interests of the Russian business community in Dubai and helping Dubai Chamber create stronger business relationships between our two countries,” Mr. Nassib said.

As a UAE-based company that has established operations in Russia, flydubai CEO Ghaith Al Ghaith also outlined the intricacies of setting up business and discussed the demand generators for the routes. “Russia is a very important market for us, both in terms of business and tourist travel. With Dubai being home to more than 18,000 Russian expats there is a growing need for quality, low cost, direct flights to these destinations. Russia is a growing economy, having grown by four per cent in 2010 and a further 3.8 per cent in the first five months of 2011. Previous air links to Russia have been seasonal and centred on established economic centres but by providing regular and reliable flights to emerging destinations we are expanding scope for growth in business and tourism.” stated Ghaith Al Ghaith, CEO of flydubai.

Figures released this week by Dubai International Airport also credits flydubai for a 33.9% growth in Russian passengers to Dubai from January – September 2011 compared to the same period last year.

“Before flydubai launched in Samara in October 2010, the route was only being served during the winter period. Since our twice weekly flights began, the route has seen a 627% increase in overall traffic while the other carrier has seen a 79% growth (year to date 2011 v 2010). Similarly, a year on from flydubai’s launch of services to Yekaterinburg, passenger numbers on the route have grown by 175% and 6% for the other carrier (year to date 2011 v 2010). Our Russian flights are popular because we offer all travellers, whether flying to the UAE for business, leisure or to visit friends and family, a greater number of reliable, affordable and convenient travel options,” added Ghaith Al Ghaith.

Dubai: The Dubai International Financial Centre (DIFC), the financial and business hub connecting the region’s emerging markets with the developed markets of Europe, Asia and the Americas, today hosted the launch of the updated International Monetary Fund (IMF) Regional Economic Outlook titled “IMF Outlook for MENA, Afghanistan, and Pakistan (MENAP)”. The IMF’s outlook for MENAP takes into consideration the unparalleled uncertainty and economic pressures witnessed by the region from both domestic and external sources including the worsening global economy.

According to the report, continued high energy prices have improved the economic activity for most of the region’s oil exporters[1], along with their fiscal and external situations. Their real GDP growth is expected to pick up in 2011 to reach almost 5%, then fall back to about 4% in 2012. For the GCC, who have stepped up production temporarily in response to higher oil prices and shortfalls in production from Libya, growth continues to be projected at more than 7%.

In 2011, the oil exporters’ combined external current account surplus is expected to increase from US$202 billion to US$334 billion (excluding Libya), and from US$163 billion to US$ 279 billion for the GCC. With increased fiscal budgetary room, many countries intensified their expenditures on investments and social programmes and escalated their spending and support to the non-oil sector, which is projected to grow at 4.5% in 2011 – 2012.

Masood Ahmed, Director of the IMF’s Middle East and Central Asia Department, said: “Oil exporting countries in the region have stepped up oil production in the wake of disruptions in Libya, making an important contribution toward global energy market stability. They have understandably increased fiscal spending to address social needs. Looking forward, the widening of non-oil fiscal deficits makes many countries more vulnerable to swings in oil prices, at a time when the world economy is facing heightened risks.”

Dr Nasser Saidi, Chief Economist at DIFC commented: “Recent developments in the region highlight the need to guarantee that economic growth is both inclusive and has a trickle-down impact. An inclusive medium-term growth agenda will ensure the establishment of strong institutions to stimulate private sector activity and avoid potential crowding-out. It will also open up greater access to economic opportunities and address chronically high unemployment, especially for youth. Structural reforms and developmental policies are needed to promote growth and development through institutional rebuilding using new channels for financing countries in transition. Creating such a dedicated bank for reconstruction and development would be a constructive way to route financial resources to regional countries in transition and would serve as a catalyst to attract other investors. This in turn will lift economies to higher growth trajectories over the longer term.”

The IMF’s outlook for oil importers[2] highlights the fact that, although the benefits of the Arab Spring are indisputable over the longer term, the political and economic transformations are advancing slowly and are expected to extend well into 2012. With global activity and confidence weakening, there is a marked increase in economic uncertainty in the region. IMF expects the average real GDP growth for MENAP oil importers to drop from 4.33% achieved in 2010 to below 2% in 2011. The recovery in 2012 is also expected to be weaker than previously anticipated, with growth projected at just over 3%.

Besides the deterioration of external and financial conditions, the report highlights the sizable declines in tourism and capital inflows as a cause for the weakening in external reserves for oil importers. Fiscal deficits are expected to widen by about 1.5% of GDP in 2011-2012.

“Despite the uncertainty and economic pressures we have been witnessing since the beginning of the Arab Spring, we should not lose sight that the region is going through a historical transformation that ultimately should result in improved living standards and a more prosperous future for the people in the region,” Mr. Ahmed noted. “However, the year ahead will be challenging for many countries, with continued political uncertainty, a deteriorating global economic outlook, and higher financing costs impeding a quick economic recovery,” he added.

Software AG to discuss how to harmonize technology & talent to achieve strategic goals at ProcessForum Dubai 2011

www.ProcessForumDubai.com

October 19, 2011

Organizations are under increasing pressure to optimize major resources such as IT infrastructure to cope with tighter budgets and greater competition. Software AG, the global leader in Business Process Excellence, will discuss how enterprises can effectively harmonize their technology & human assets to achieve their strategic goals during ProcessForum Dubai 2011, a convention focusing on Business Process Management (BPM) success to be held on October 25, 2010 at the Habtoor Grand Beach Resort & Spa in Jumeirah Beach, Dubai.

BPM is a holistic management approach that aligns organizations with the wants and needs of their clients. Although BPM immensely benefits industry and commerce in general, it is particularly essential to the efficient performance of transaction-oriented sectors such as banking and financial services, insurance, telecommunications and government. BPM deployments have been steadily rising in the UAE due to the country’s emphasis on technology-enabled business which has made it the second largest enterprise application software market in the GCC region.

Organized by Software AG, ProcessForum Dubai 2011 will enlighten participants on the impact of Business Process Excellence and how to transform towards it; the best enterprise BPM strategies; and the proper management of complexity in today’s challenging times. The forum will also include project presentations by Deutsche Borse, the Islamic Development Bank and Saudi Basic Industries Corp. as well as a panel discussion on the latest BPM trends, best practices, challenges and solutions.

“How can we make IT more of a business enabler rather than an expensive tool? That is the question faced by enterprises that have to make do with smaller budgets while fighting for bigger market shares. The answer is to make technology, business structures and people work fluidly together to achieve the desired results; BPM systems not only make this possible, but efficient and sustainable as well. ProcessForum Dubai 2011will gather the best BPM practitioners to share their experiences and suggestions on how information systems can be tapped to more effectively support businesses,” said Marco Gerazounis, Senior VP Middle East North Africa & Turkey, Software AG.

ProcessForum Dubai 2011 is a must-attend event for learning how to operate smarter, better and faster; delivering on the corporate vision while budgets are tight and staffing is lean; and addressing business challenges through the use of market-leading software. Complete details are available at http://www.ProcessForumDubai.com

First ever ‘Cairo WoodShow’ to showcase stability of Egypt’s wood and wood working machinery segment  

October 3, 2011

The Egyptian wood working sector, which was affected by the political turmoil that occurred earlier this year, is now confident that the country’s move towards economic recovery will help usher in more opportunities, according to Strategic Marketing and Exhibitions (SME), one of the leading exhibition and conference organizers in the United Arab Emirates. The Egyptian government has implemented key programs and initiatives aimed at positioning the country as an attractive investment destination in the next five years. Eyeing to render strong support to these government sponsored initiatives, SME will be organizing the first ever ‘Cairo International Wood & Wood Machinery Show’ (Cairo WoodShow), which will be held from October 9 to October 12, 2011 at the Cairo International Convention Centre (CICC).

The country has maintained its leading position in the Middle East and African (MEA) region’s wood market, which is expected to post over USD 5 billion in the domestic wood production segment by the end of this year. Likewise, Egypt was also able to key in more than USD 3 billion in furniture production and USD 1 billion in furniture exports already this year. The vibrancy demonstrated in these segments, particularly in furniture and wood products, has also shown that the country has been importing 100 per cent of wood panels, machines and tools. To date, Egypt has been dubbed as one of the most promising markets in construction for the MEA region with a yearly spend of USD 7.3 billion. Aiming to spark in more growth for the country’s wood sector, ‘Cairo WoodShow’ is being presented as a key venue to showcase the stability of Egypt’s wood and wood working machinery segment and bring in more growth by acting as a strategic trading platform for Egypt and nearby countries.

“The political unrest that happened earlier this year has managed to affect a lot of workers across various industries. One particular example are workers from the wood working sector, who have found themselves displaced by the protests,” said Dawood Al Shezawi, CEO, Strategic Marketing and Exhibitions. “However, the country’s efforts to regain economic foothold has given these workers the confidence of seeing more opportunities in the next few months. ‘Cairo WoodShow’ is aimed at helping the government showcase the stability of the wood market and thereby attract more opportunities into the country.”

The event will feature exhibitors coming from countries like Romania, Italy, USA, China and Germany. One of the highlights for the exciting four-day event will be the ‘Auction on Fire’ activity, which is an exciting two-hour daily auction of the latest wood products and wood working machinery that will be held at the CICC’s ‘Auction Zone.’ The first day of ‘Cairo WoodShow’ will be exclusively for VIP business personalities coming from 60 countries featuring high profile representatives from the wood business looking for importing and negotiating potential opportunities. The next three days are open to all specialized visitors.

“We are overwhelmed with the positive response that we have received for ‘Cairo WoodShow.’ So far, we have already received a lot of confirmations from companies and organizations participating in Egypt’s first of its kind wood and wood machinery exhibition. We remain upbeat that ‘Cairo WoodShow’ will help spark new opportunities between exhibitors and potential partners, which can ultimately drive in more growth and development for the country,” concluded Al Shezawi.

Dubai, United Arab Emirates, 6 June 2011 – Zarca Interactive, a leading provider of next generation online survey solutions has partnered with Sharjah Chambers of Commerce and Industry to garner real time feedback from the participants and winners of the prestigious Sharjah Economic Excellence Awards, which were held recently at Sharjah Chamber of Commerce and Industry Head Quarter – Al Majarah Hall.

Zarca Interactive, which has been a reliable associate for the Sharjah Chamber of Commerce and Industry for several industry events, is responsible for sourcing response from the distinguished guests during and after the awards ceremony, which is critical for evaluating the overall performance of the event.

“We are proud to be the preferred partner for the prestigious Sharjah Economic Excellence Awards towards supporting its vital survey component. Our sustained partnership with Sharjah Chamber of Commerce and Industry is a testament of Zarca’s strategic capabilities to address diverse survey requirements across key industry sectors.” said Javed Farooqui, Executive Director & Head Middle East and Africa Zarca Interactive.

The Sharjah Economic Excellence Award is a key initiative of the Sharjah Chamber of Commerce and Industry towards motivating and encouraging private sector establishments and businessmen to continue investing in the economic success of the Emirate of Sharjah. The key categories for the Excellence Award encompass Gold, Large, Small and Medium Firms across manufacturing, trade and service sectors.

A dedicated award for entrepreneurship initiatives is also a key component of the event. The awards are held under the patronage of H.H Sheikh Sultan Bin Mohammed Bin Sultan Al Qassimi, the Crown Prince and Deputy Ruler of Sharjah.

Commending Zarca’s role towards the success of the awards, Ms. Nada Al Hajri, Quality & Development Senior Executive, SEEA General Coordinator said, “An in depth analysis of the real time feedback received from our diverse set of stakeholders is vital for the success of our awards initiative. Zarca, with its innovative and custom built survey capabilities has over the years helped us achieve these strategic objectives and has proven to be a vital catalyst towards establishing our desired positioning”.

Zarca Interactive offers a flexible, highly user-friendly and feature-rich solution which can handle multiple languages, provide anonymity to respondents where needed and allow multiple user/role based access in a cost effective manner. The patented survey platform also allows the user to import data from scanned paper-based surveys so that reports can be generated on one platform. 

The US-based outfit is the pioneer in online feedback management in the UAE. Zarca Interactive first came into the scene to bridge the gap that existed between small boutique research agencies and the bigger industry players.

Through its innovative approach to feedback management and its patented technology platform, the company has since established a position of thought-leadership in the areas of data-driven decision-making in a very short period of time. Today, in addition to Dubai Quality Group, Zarca Interactive has a vast portfolio of over 75 clients in the government and private sectors, including Ministry of Social Affairs, Dubai Customs, Dubai Ports Authority, Dubai Municipality, Dubai Real Estate Corporation, ADCB, Emirates NBD and NBAD.
 

Middle East Business Leaders Summit and Awards 2011’ urges private sector to live up to challenges of recovering from downturn

March 09, 2011

Rapid population growth, the continued depletion of natural resources and the need to drive in economic development have been identified as the three biggest challenges that the Middle East and North African (MENA) region will be facing in the next ten years, according to My Events International, organizers of the Middle East Business Leaders Summit and Awards (MEBLSA) 2011. In line with this, the region’s leading business leaders forum is calling on the local business community to live up to the challenges and demands brought about by current efforts in the move to recover from the recent economic downturn. The call is one of the many challenges that the forum is issuing to the region’s industry and business leaders who will be attending the event, which will be held on April 17 to April 18, 2011, at the Armani Hotel, Burj Khalifa. The theme for this year’s event is ’Thriving Leadership and Sustainability of Business in the Middle East’ and will include key business networking sessions, presentations, and workshops aimed at promoting the adoption of best practices across various industry verticals and to help promote better leadership skills.

According to My Events International, the recent upturn has raised new ways of looking at leadership dynamics, capitalism and human resource management, which has altogether raised a series of challenges that the region should learn to address. These challenges include the pressure on resources brought about by the region’s growing population and rapid economic development; the emergence of a new capitalist model; the need for more quality education and healthcare and the need to maintain and develop human capital. Recent studies have shown that the MENA region’s population is posed to grow by 40 percent over the next two decades - highlighting an increased demand for education resources, healthcare services, water, sanitation services, housing, and energy.

“A fast growing population, the depletion of natural resources and the need to drive in more economic development are three of the top challenges that the MENA region will be facing in the next decade,” said Shahul Hameed, Group Chief Executive Officer, My Events International. “In line with this, the Middle East Business Summit and Leaders Awards 2011, aims to provide the region’s business leaders with key insights on how to face these challenges. We have invited some of the region’s most distinguished business and thought leaders to lead and facilitate discussions that can address these challenges we have presented. Further, MEBLSA remains steadfast in its commitment to develop new ways of looking at leadership dynamics, the evolving nature of capitalism and human capital development.”

One of the key concerns to be raised in the summit is the region’s growing population and rapid economic development and the impact it has left on resources, which has so far led to socio - economic implications like the depletion of water supplies, environmental pollution and an increased demand for public services. Another challenge that will be addressed in the forum is the advent of a new capitalist shift, which shows the momentum being gained by public - private partnerships and corporate citizenship. In addition, other issues to be raised and discussed include the need to address the demand for more quality education in the region and the development and maintenance of human capital.

“The chief objective is to help in the development and training of the region’s new breed of business leaders. In line with this, the forum is encouraging both the private and public sector to equip themselves with new technology, business strategies and programs as a means to be more globally competitive. We look forward to seeing increased participation in this year’s edition of MEBSLA and help realize meet our objective of developing a stronger business community for the Middle East region, “concluded Shahul Hameed.

MEBLSA 2011 is firmly established as a strategic platform for the region’s top corporate leaders and officials to discuss and share important and essential breakthroughs in today’s business world. The event, which is now in its second year, also aims to facilitate the development of business leaders by providing opportunities for its members and guests. Attending the leaders forum will help create business advantages like learning best practices strategies and initiatives from outstanding practitioners in the market; increased quality of human capital in your organization or company and the creation of new human capital leadership, One of MEBSLA’s main attractions is the Master Class and Organization Leadership Awards, which honors and pays tribute to the region’s best business leaders. The awards aim to serve as a catalyst for the growth of new leaders and entrepreneurs to spur the industrial growth, apply best practices and to drive the region’s economy. Previous winners have included Mohammad Hassan Omran, CEO, Etisalat; Osman Sultan, CEO, Du; Dr. Khater Massaad, CEO, RAK Ceramics; and Prabissh Thomas, Managing Director, PTL Solar.

Fourth edition of Big 5 PMV to draw top manufacturers and suppliers looking to capitalise on Middle East construction growth

Dubai, UAE, 6th June, 2010:  Demand for construction machinery in the Middle East is set to soar as the construction industry recovers from the economic downturn and the region forges ahead with major development.

According to industry experts, there are positive signs of recovery in the GCC construction industry and there are a number of factors which will drive ongoing demand for machinery.

Humaid Salem, General Manager of the UAE Contractor’s Association said: “As major developers start to repay contractors, they will be able to repay their sub-contractors and suppliers, giving a major boost to the industry as a whole. This will lead to more growth in the sector, and create a renewed demand for construction machinery as new projects get underway.”

Dr Nasser Hamad Al Hajeri, Chairman of Gulf Automobile Industry Corp said the scale and number of development projects, particularly in Saudi Arabia, will increase demand for construction machinery. “We are witnessing high demand in Saudi Arabia and Qatar due to the large number of major construction projects there, and demand is also growing in the UAE.  To meet market demand, we are launching a light duty truck with capacity from 1 to 10 tonnes and a wheel loader towards the end of the year.”

With more than US$1.3 trillion projects on the horizon in the GCC, according to the latest data from MEED Projects, manufacturers and suppliers of plant, machinery and construction vehicles will have an excellent opportunity to capitalise on Middle East construction growth when the Big 5 PMV (www.big5pmv.com) returns to Dubai in November.
Big 5 PMV 2

Now in its fourth year, the event will take place from 22-25 November in The Arena, Sheikh Saeed Halls at the Dubai International Convention and Exhibition Centre as part of the Big 5, the Middle East’s largest and most influential construction industry event, organised by dmg World Media.

Nick Webb, Director of Streamline Marketing Group, organisers of the Big 5 PMV said despite a tough year for the global construction industry in 2009, the outlook for the region’s construction industry is positive. “Many major projects have been announced in 2010 to date and manufacturers and suppliers of plant, machinery, construction vehicles and equipment are actively pursuing opportunities worth millions of dollars.

“Now in its fourth year, the Big 5 PMV brings together construction industry professionals, plant and mechanical engineers, consultants, architects and contractors from the Middle East, Europe, Asia and Africa.  It offers unparalleled opportunities for manufacturers and dealers of construction machinery to access the construction and building community,” he said.

According to Ventures Middle East, more than US$14 billion worth of construction contracts were awarded in the GCC during April and May, with around US$8.7 billion awarded in the UAE. The firm has also forecast 10 to 15 per cent growth in contracts awarded in 2010.

Proleads Global, a UAE-based market research company has reported that nearly 1,300 projects valued at more than US$418 billion are under construction in the UAE, with an additional 303 projects worth US$143 billion in the design, planning or bidding stage.

In April 2010, projects worth millions of dollars commenced including the Water Garden City in Bahrain (US$6.6billion), Musheireb in Doha, Qatar (US$430million), the Al Ain Convention Center District (US$953million), Saadiyat Island Development Cultural District – New York University (US$865million) and Business Bay Development, The Opus Tower (US$469million), in the UAE.

Big 5 PMV 3

Government spending on infrastructure projects is also giving the sector a considerable boost. The UAE federal government earmarked almost US$12 billion from the 2010 budget for infrastructure projects, according to Business Monitor International. Saudi Arabia allocated US$3.17 billion in its 2010 budget for construction of 6400 kilometres of roads.

The largest and most important construction machinery event in the region, the Big 5 PMV features a new live demonstration area and allows key buyers from across the region and oversees to meet face-to-face with leading manufacturers and suppliers and to experience the latest innovations and technology first-hand.

Highlighting the strong international interest in the Middle East construction market, the event has already attracted exhibitors from Asia, Europe and the Middle East. The Korean Construction Equipment Manufacturers Association (KOCEMA) has most recently confirmed their support for the event.

Running alongside the exhibition, the organisers are also planning a free industry conference, providing trade professionals with a platform to share best practice, learn about the latest industry developments, and discuss challenges facing the region’s construction industry.

For the first time, visitors will be able to travel to the Big 5 PMV via the Dubai Metro, with the Dubai World Trade Centre metro station conveniently located adjacent to the Big 5 PMV venue.

Dubai, 9 February, 2010: The Dubai Department of Economic Development (DED) and The German Emirati Joint Council for Industry & Commerce (AHK) organised a joint business networking meeting recently. The event aimed at discussing opportunities for investment and cooperation between businessmen from both countries and contributing to sustainable economic development in the emirate.

Over 200 representatives from major private sector companies and corporations attended the meeting, which highlighted the need for sustained cooperation in achieving viable and sustainable economic growth for Dubai. The meeting also saw discussions on enhancing communication between members of the Council of the Emiratis and the Germans and overcoming obstacles they may face in pursuing investment opportunities.

Representatives from DED including His Excellency Mr Sami Al Qamzi, Director General of DED, as well as CEOs of DED’s agencies - the Foreign Investment Office, the Export Development Corporation, Dubai Events and Promotions and the Mohamed Bin Rashid Establishment for SME Development - presented an overview of DED’s vision and mission and services for investors and businessmen.

“We are pleased to cooperate with AHK, which serves as the umbrella overseeing the economic and trade development, as well as exchange expertise and investment between the UAE and Germany. The meeting confirms Dubai and Germany’s keenness to find the appropriate mechanisms and vast investment opportunities available in both economies,” said Al Qamzi. “Businessmen and investors play a vital role in strengthening the relations between the two economies and this meeting supported the economic cooperation taking place in various areas.”

Al Qamzi confirmed Dubai government’s commitment to continue its diversification policy and create opportunities for German companies to establish more projects in the emirate. “Dubai and Germany enjoy strategic relations at all economic levels. The meeting contributed to promoting trade and economic relations between Dubai, which enjoys a leading position in the Gulf region, and Germany, the third largest economy in the world.”

“Through our various agencies, we will contribute to achieving DED’s objectives, supporting Dubai’s economy, and improving the investment environment to attract more foreign investments. Additionally, we continue to support small and medium enterprises, export development, and revitalization of the retail sector through our ongoing initiatives,” added Al Qamzi.

Dr Peter Goepfrich, CEO of the German Emirati Joint Council, welcomed the DED group and stressed on the importance of this event as a good opportunity for both German and Emirati companies to get acquainted with Dubai’s key governmental agencies that execute the DED’s strategies. “The interaction between economy and politics as well as economic management is very important. This is especially true in a relatively different kind of environment as in the UAE, in particular Dubai, which is indeed a regional and transitional trade hub to its neighboring countries in the Gulf and which under the influence of the latest acute economic situation is repositioning itself,” said Goepfrich.

The Department of Economic Development seeks to achieve sustainable economic development and upgrade the competitive advantage of Dubai through the development of policies, laws and economic legislation in the emirate, creating a favorable environment conducive to doing business, and maintaining a high standard of living for citizens and residents of Dubai.