Day: September 20, 2021

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AD Ports Group, General Company for Ports of Iraq sign MoU to promote cooperation and investments

ABU DHABI, AD Ports Group, the leading global driver of trade and logistics, signed a Memorandum of Understanding (MoU) with the General Company for Ports of Iraq (GCPI) to promote increased cooperation between the two organisations within the fields of transportation and maritime.

Facilitated during a recent visit of a high-level delegation led by the Iraqi Minister of Transportation, the MoU was signed by Captain Mohamed Juma Al Shamisi, Group CEO, AD Ports Group, and Dr. Farhan Muhesen Al Fartosi, Director General of the General Company for Ports of Iraq, in the presence of Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, and Nasser Hussein Al Shebly, Iraq’s Minister of Transportation. Also present at the signing were Taleb Abdullah Bayesh, Under-Secretary of the Ministry of Transportation for Technical Affairs; Dr. Mudhafar Mustafa Al Jubouri, Iraq’s Ambassador to the UAE; Shadi Malak, CEO of Etihad Rail; and Saif Al Mazrouei, Head of Ports Cluster, AD Ports Group.

Set for an initial period of 12 months with a clause for automatic renewal, the MoU will see the exchange of expertise and best practices by both organisations. Additionally, AD Ports Group will conduct feasibility studies on the management and operation of the General Company for Ports of Iraq’s ports and economic zones and other infrastructure, while also exploring potential investment opportunities.

As part of its scope, AD Ports Group will also develop national infrastructure, such as roads and rail networks, which will connect Al Faw Ports in Iraq with markets in Jordan and Turkey, while simultaneously financing the feasibility studies stated in the MoU.

Commenting on the MoU, Al Mazrouei said, “In line with the wise leadership’s vision, the signing of this MoU exemplifies the UAE’s drive to enhance cooperation with sister Arab states. Leveraging the lessons learned as part of our nation’s pursuit to develop strategic sectors and build frameworks that contribute to the economic and social development of the UAE, we are transferring this invaluable knowledge to our kin in Iraq in order to support the formulation of a diverse and sustainable economy in Iraq.”

For his part, Al Shebly said, “It is our privilege to announce the start of this new cooperation with AD Ports Group. The MoU will serve as the starting point for future collaboration that will drive the development of a wide range of services, while also supporting investors across both our proud nations. It also sets the foundation to foster an Arabi ports’ ecosystem that can cater to the increasing global demands of this sector and keep pace with ambitious plans of the governments in Iraq and the UAE.”

Captain Al Shamisi noted, “The signing of this strategic MoU with the General Company for Ports of Iraq is a vital step in the efforts to enhance our regional and global status within the maritime transportation and logistics industries. We are confident that the cooperation with Iraq will serve as the foundation of a promising future of success and developmental opportunities that will benefit both nations. It will also enhance trade and the flow of foreign investments to Iraq and will elevate the quality of maritime transportation and logistics services available in the region.”

Dr. Al Jubouri said, “The Iraqi Embassy succeeded in convening this meeting at a very short notice, and it led to the signing of this MoU that will benefit the two sister states. The embassy was also successful in promoting cooperation between the Iraqi Ministry of Transportation on the one hand, and the Ministry of Energy and Infrastructure in the UAE and AD Ports Group on the other, and we would like to extend our deepest gratitude to the active collaboration of our Emirati peers, and we are aiming to strengthen our close ties in the near future.”

Dr. Al Fartosi commented, “We are pleased to sign this MoU with a leading entity like AD Port Group, a titan with a rich history within the Middle East’s maritime transportation and logistics segment. Capitalising on its robust portfolio of service capabilities and world class infrastructure, we fully expect to see our ports and transportation ecosystem in Iraq rise to new heights in the coming years. We look forward to promoting our cooperation with the UAE in order to foster the strategic position of the Arab Gulf region across the global supply chain.”

Source: Emirates News Agency

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Minister of Economy briefs US-UAE Business Council on UAE’s new investment incentives

ABU DHABI, Abdullah bin Touq Al Marri, Cabinet Member and Minister of Economy; and Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, met with the UAE-US Business Council in Washington, DC, during the high-level UAE delegation’s visit to the United States.

The meeting was attended by the UAE delegation accompanying the two ministers, in addition to representatives of 85 American companies that are members of the Council. The two sides underlined the importance of the role played by the Council in strengthening ties, forging trade and investment partnerships between the companies of the two countries, and facilitating the exchange of experiences, in addition to reviewing investment trends and opportunities in both markets.

From the UAE side, the meeting was attended by Mohamed Ali Al Shorafa Al Hammadi, Chairman of Abu Dhabi Department of Economic Development; Eng. Saed Mohamed Alawadi, Chief Executive Officer of Dubai Exports; Mohamed Juma Al Musharrkh, Chief Executive Officer of Sharjah FDI Office (Invest in Sharjah); and Fahad Al Gergawi, Chief Executive Officer of the Dubai Investment Development Agency (FDI).

During the meeting, the UAE and US discussed ways to develop prospects for cooperation, new strategies and directions; and intensify efforts and cooperation during the next stage to diversify and develop trade exchanges and increase the volume of mutual investments. These discussions focused on the sectors of infrastructure, healthcare, manufacturing, artificial intelligence, agricultural technology, and clean and renewable energy.

Bin Touq briefed the Council on the developments in the UAE’s economic environment during the past stage, including the ‘Projects of the 50,’ new economic legislation and qualitative initiatives launched by the country. These initiatives are aimed at aiding the UAE’s transition into a new knowledge-based economic model that is flexible, competitive and sustainable, and embraces talent and pioneering projects. He pointed out that the modernization of the economic system ensures the generation of new and promising incentives and opportunities for investments and partnership with various global markets, particularly American companies.

In addition, Bin Touq reviewed the UAE’s efforts in dealing with the economic impact of the Covid-19 pandemic, accelerating the pace of economic recovery, supporting and resuming business activities in various sectors. These were achieved through the adoption of a systematic response and integrated plans based on the principles of proactivity, long-term development and enhancing productivity. He also presented the indicators and positive results achieved by the country in this regard.

Bin Touq said: “The pioneering and fundamental measures taken by the UAE to enhance its current and future position as a preferred destination for business and investments add further value to its position as one of the most vibrant and dynamic trade and investment hubs regionally and globally.” He then noted that such unique economic developments in the region open up promising opportunities and prospects for American companies to establish their presence in the UAE and make it the base for their operations and activities across the region, and to access key markets in Asia and Africa.

Furthermore, he reviewed the most prominent measures and efforts adopted by the country in this regard, including the amendments to the Commercial Companies Law to allow 100% foreign ownership of projects and investments, the developments in the residency system that now provide many and easy options for living, working, investing in and visiting the UAE, and the country’s projects in the field of export development and attract investment, economic agreements and others.

Bin Touq added: “The UAE today is an economic hub that is the most dynamic, most developed and fastest growing in the region, boasting a distinguished strategic location, strong financial reserves, large sovereign wealth funds, robust spending on development projects, a solid, stable and flexible economy, and an attractive and flexible tax policy that does not include any income taxes, as well as its political stability, safe and open environment, tolerant and a multicultural society. It is among the top 20 countries in the world as an ideal place to live, according to global opinion polls.”

Bin Touq further highlighted the strength of the UAE-US economic relations, which is reflected in the volume of mutual investments. The UAE’s investments account for the largest share of the total Arab investments in the US markets, with a cumulative balance of USD 44.7 billion until the end of 2020 and ranking first in the Arab world and 20th globally. The UAE is one of the leading investors in America, as the UAE companies’ investments in the United States in research and development activities related to innovation and technology amount to about USD 1.7 billion. These investments have contributed to supporting American exports with a value of USD 1.3 billion, and in turn, the volume of foreign direct investments from the US to the UAE by the end of last year stood at nearly USD 19.4 billion.

Meanwhile, Al Zeyoudi called on American companies to closely study the UAE’s recent economic initiatives, projects and the broad development prospects that they open up to build sustainable partnerships during the next stage. He urged them to learn more about the incentives offered by the new investment environment in the country, in order to achieve growth and mutual benefit for both parties.

He added: “The UAE offers an attractive and integrated investment climate with its advanced infrastructure, globally competitive transport sector, pioneering logistical services and a strategic location, which offer a myriad of possibilities for trade and investment flows for companies and projects in the UAE. The country provides absolute flexibility to conduct business and commercial and economic activities anywhere in the country including free, industrial and economic zones and commercial complexes.”

He further underlined the country’s keenness to develop its partnerships with the American business community and facilitate American investment flows to new and promising sectors in the UAE, especially in agricultural technology, manufacturing, logistics, health care, education, information and communication technology, digital economy and renewable energy.

The UAE and US also noted the importance of the United States’ participation in the Expo 2020 Dubai next month. The American pavilion is one of the largest pavilions hosted by the exhibition, which will display the latest American products, services, innovations and industries across various activities and sectors, thus enhancing opportunities to develop its trade and partnerships with the UAE and global business community.

Source: Emirates News Agency

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86% of UAE travellers seek international holidays in 2021/2022 with Europe set to dominate: dnata Travel survey

DUBAI, dnata Travel, the UAE’s longest-standing travel provider, has revealed the results of a survey conducted with thousands of UAE travellers in July and August 2021, during the busiest time for travel from the UAE the brand has seen since the onset of the COVID-19 pandemic.

Revealing insights on UAE residents’ travel plans for 2021 and 2022 so far, 86 percent of the respondents expressed the desire to travel internationally during this period.

Of these respondents, 56 percent indicated a plan to travel to Europe for their next holiday, with more than a half planning to stay for a duration of one to two weeks. This represents a significant increase in stays compared to previous years, with dnata Travel reporting a past average of three- to four-day stays in European destinations for UAE travellers.

Emily Jenkins, Head of Leisure UAE at dnata Travel, commented, “We conducted the latest dnata Travel survey in July/August 2021, as international travel witnessed significant growth with many countries opening up to vaccinated travellers ahead of the summer, including destinations across Europe, North America, parts of the Indian Ocean, and Asia.

“Since the start of the pandemic, we have witnessed a pent-up demand for travel, particularly in the wake of the UAE’s impressive vaccination drive. Much of Europe has eased restrictions for vaccinated travellers offering a wealth of options, with something for every type of traveller, from beach retreats to island escapes and city breaks.”

According to the survey, the top five most sought-after destinations in Europe for 2021/2022 holidays with UAE residents include Switzerland, UK, Italy, Greece, and Georgia, respectively.

Outside of Europe, survey respondents expressed interest in planning travel to Asia, with Thailand making up the vast majority, followed by the Middle East, North America, and the Indian Ocean.

Source: Emirates News Agency

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UAEU granted patent for innovative low-energy desalination system

AL AIN, Researchers at the United Arab Emirates University (UAEU) have made an unprecedented scientific advance that has the potential to revolutionise the water desalination industry.

Scientists in the university’s National Water and Energy Centre have invented a new desalination system that dramatically reduces energy consumption during the desalination process.

The low-energy desalination system has been granted a patent by the US Patents and Trademarks Office. This adds to the total of more than 178 patents obtained by scientists at the United Arab Emirates University in areas of national priority. It is further evidence of the support provided by the university for the sustainable development plans of the UAE.

Traditional desalination systems involve processes of heating, re-condensation, and evaporation as well as the use of fine membranes that allow the water to pass without salt. These processes, including Thermal and Reverse Osmosis desalination systems consume vast amounts of energy.

In contrast, UAEU scientists made a direct application of the theoretical principles of thermodynamics and the conservation of mass and energy to discover that water can be desalination by using a combination of high and low pressures.

Saline water is first pushed at high pressure through a pipeline with the venturi device in which the speed of the water is increased and its pressure is reduced to allow for evaporation with no or minimum heating. The water is then turned into steam by containing it at very low pressure. After re-condensation, the water is fully desalinated.

Source: Emirates News Agency

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UAE Gender Balance Council signs MoU with Expo 2020 Dubai

DUBAI, The UAE Gender Balance Council and Expo 2020 Dubai have committed to strengthening engagement on gender balance and women empowerment, with the signing of a significant memorandum of understanding (MoU) to enhance cooperation during the historic Expo 2020 Dubai event.

Through the MoU, the UAE Gender Balance Council will be able to use Expo 2020 Dubai, and the global spotlight it brings, to showcase the UAE’s outstanding achievements in gender balance.

H.H. Sheikha Manal bint Mohammed bin Rashid Al Maktoum, President of the UAE Gender Balance Council, President of Dubai Women Establishment, and wife of His Highness Sheikh Mansour bin Zayed Al Nahyan, UAE Deputy Prime Minister and Minister of Presidential Affairs, said, “Expo 2020 Dubai is a milestone in the UAE’s journey of continuous development, a journey that can be seen in our country’s record of pioneering projects and achievements across many important fields. With the participation of 191 countries creating a truly global platform, the event will also serve as a celebration of the UAE’s Golden Jubilee and the beginning of a new era of exceptional achievements for the next 50 years.”

She added, “The daily successes we are witnessing in social, economic, political and cultural spheres, signifies the shared vision of the late Sheikh Zayed Bin Sultan Al Nahyan and our founding fathers. Together, they laid the foundation for a country guided by national identity, humanitarian values, and sustainable development, where coexistence and harmony serve as the bedrock of society. Our leadership today continues their wisdom, including a commitment to the principles of gender balance and the advancement of women across diverse fields, and also recognises the important role women will play in bringing to life the ‘towards the next fifty’ strategy.”

The MoU was signed virtually by Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation and Director-General of Expo 2020 Dubai, and Mona Ghanem Al Marri, Vice President of the UAE Gender Balance Council.

Al Hashimy said, “This memorandum was made possible with the support of H.H. Sheikha Manal bint Mohammed bin Rashid Al Maktoum, and the tireless efforts of the UAE Gender Balance Council. The progress and success of Emirati women are key to enhancing the UAE’s global standing, and are the result of the foundations laid by our founding fathers that continue to be implemented by our wise leadership.”

She added, “Expo 2020 Dubai will be a global gathering during the UAE’s Golden Jubilee when we celebrate the achievements of our nation and look forward to the next fifty years. We will share our vision with the world and showcase the strength of cooperation through our country’s achievements over the past five decades. We will work with participating countries, organisations and the international community to shed light on our achievements and future goals in promoting gender balance worldwide, utilising history’s most comprehensive Expo 2020 Dubai as a platform.”

For her part, Al Marri emphasised how Expo 2020 Dubai will highlight the tolerance of the UAE and its approach to coexistence between cultures and religions, and how its economy creates opportunities for all people and attracts investors, creators, and talented people from all over the world.

She also thanked Reem Al Hashimy and the Expo 2020 Dubai team for their efforts and commitment to bringing the event to fruition. Al Marri said that Expo 2020 Dubai will create meaningful impact through its cultural, artistic and social initiatives and programmes. The event will also play a key role in stimulating the global economy and facilitating new connections across borders.

Al Marri added that the UAE Gender Balance Council will amplify the UAE’s success stories and share the country’s experience in gender balance and women empowerment during Expo 2020 Dubai. The UAE is a regional and global model in gender legislation, as reflected by the country’s rankings in global indices and testimonies from international organisations. These achievements are driven by the Council’s hard work and commitment since its establishment in 2015 and under the guidance of Sheikha Manal; efforts which serve to achieve the country’s commitment to the UN Sustainable Development Goals (SDGs) 2030.

Al Marri concluded by saying that Expo 2020 Dubai will present an ideal platform to promote knowledge sharing with international organisations and countries working to advance gender equality. The UAE Gender Balance Council will host an array of activities, sessions, and meaningful discussions throughout Expo 2020 Dubai.

Source: Emirates News Agency

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Dubai CommerCity announced as Title Sponsor for Seamless Middle East

DUBAI, Dubai CommerCity, the first and leading e-commerce free zone in the region, has been announced as a Title Sponsor for Seamless Middle East, the exhibition and conference that brings together global e-commerce, retail, and fintech leaders.

This comes in line with the free zone’s mission to support the growth of the e-commerce industry in the UAE and the wider region, and establish Dubai’s position as a global e-commerce hub.

Dubai CommerCity, the joint venture with the property developer Wasl, will be making keynote presentations and taking part in panel discussions, covering topics and trends that are key for shaping the future of the e-commerce industry. These topics include building a profitable online business, the digital commerce shift, cross-border opportunities, enabling e-commerce in the Middle East Africa and South Asia (MEASA) region, among others.

Amna Lootah, Assistant Director General of the Dubai Airport Free Zone Authority (DAFZA) and Board Member at Dubai CommerCity, said: “As the first and leading free zone dedicated to e-commerce in the region, Dubai CommerCity is setting the benchmark for enabling e-commerce, with its unique solutions, state-of-the-art facilities, and world-class expertise, to support the growth of the industry. Dubai CommerCity ensures providing e-commerce businesses with a unique ecosystem, to establish and expand their business in Dubai, the global financial hub.”

“Our sponsorship of the Seamless Middle East Exhibition and Conference comes as part of our commitment to support the e-commerce sector and propel its growth, as well as support the exchange of knowledge and expertise with other members of the industry. We are currently witnessing a strong economic recovery especially that e-commerce has established a strong position in the market despite the challenges of the pandemic. The rapid digital transformation that the world has witnessed during the past year created major opportunities which supported the growth of the e-commerce sector,” Lootah added.

DeVere Forster, Chief Operating Officer at Dubai CommerCity, said: “Being a Title sponsor for Seamless Middle East for the third consecutive year highlights our commitment to supporting the growth of the e-commerce industry and establishing Dubai’s position as a global hub for e-commerce. We look forward to being part of the event and have Dubai CommerCity’s industry experts share their valuable insights on the latest market trends and technologies, and provide an overview of the future of e-commerce.”

Dubai CommerCity is the first and leading free zone dedicated exclusively to e-commerce. With an area covering 2.1 million square feet and an investment of around $1 billion, it is uniquely designed to support new and existing e-commerce businesses across the MENA region. Dubai CommerCity includes state-of-the-art offices, as well as warehousing and last-mile delivery services. With its world-class infrastructure, the free zone provides flexible office sizes and scalable fulfilment centres, which offer various dedicated solutions for e-commerce businesses.

Seamless Middle East will take place on 29-30 September, 2021. The conference and exhibition will reunite global industry leaders to discuss the future of payments, fintech, identity, retail and e-commerce.

Source: Emirates News Agency

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