UAE Government launches ‘United Global Emirates’ campaign

ABU DHABI, The UAE Government has unveiled a global campaign, entitled ‘United Global Emirates’, to attract foreign investment and talents and promote the features that distinguish the UAE as one of the world’s most dynamic, competitive and innovative business hubs.

The ‘United Global Emirates’ campaign will champion the world-class capabilities, services, infrastructure, legal frameworks and resources available to international investors, entrepreneurs and professional talents. The campaign will also highlight the benefits to entrepreneurs, start-ups and investors of all sizes and stages of choosing the UAE as a launch platform for their enterprises.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, tweeted, “We are launching ‘United Global Emirates’, an international campaign to highlight the benefits and incentives that the UAE offers to help entrepreneurs go global. We invite talents from all over the world to make their ideas a reality in the #United_Global_Emirates.”

His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, tweeted, “The launch of our new economic campaign aims to secure the UAE’s position as one of the strongest global economics over the next 50 years. Our nation will build on its entrepreneurial achievements to reinforce its status as a prime destination for talent, expertise and investments.”

The United Global Emirates comes as the UAE enters a new phase of its growth, with aims to establish the country as one of the best in the world over the next 50 years in the run up to the UAE Centennial. It will emphasise the most promising sectors for investment and the outstanding lifestyle in the UAE, positioning the country as an ideal destination to live in, work and invest.

With open skies policies, competitive investment benefits, free zones for 100% foreign ownership, and advanced airports that connect the East with the West, the UAE has become the globe in one country in less than five decades.

The “United Global Emirates” will build on the UAE’s “Impossible is possible” brand to reassert the nation’s status as a magnet for investment, creativity, innovation and achievement – a place where big ideas can be transformed into reality. It will highlight the features that make the UAE a global nation, attractive to more than 190 nationalities.

Ranking among the leading countries in the world in 100 global development indicators, the UAE benefits from significant economic stability and conducive business environment, owing to its strategic location, strong financial reserves, large sovereign wealth funds and sustained government spending. It has direct airline routes to more than 250 cities around the world and is a major player in the international trade networks with shipping lines to more than 400 cities.

There are more than 40 free zones in the UAE that have competitive capabilities and advantages, making it ideal long-term investments. Moreover, the UAE does not impose income tax on individuals, investors or corporates, with the exception of oil companies and branches of foreign banks, with custom tariffs ranging from 0 to 5 percent.

Source: Emirates News Agency

Dubai Customs ranked among top 10 Best Workplaces 2021 in Middle East

DUBAI, “Great Place to Work”, the global authority on workplace culture, ranks Dubai Customs among the top 10 Best Workplaces in the Middle East 2021.

In the largest collection of employee experiences in the Middle East, thousands of employees from across the region were surveyed to determine the Best Workplaces.

More than 450 private and public organisations competed to be on the list. This recognition is based on confidential survey data assessing employee experiences of trust, innovation, company values and leadership. Companies are also evaluated on how well they are creating a For All workplace experience, inclusive of all employees no matter who they are or what they do. This year, COVID-19 brought physical and mental well-being to the forefront for both employers and employees.

Commenting on the achievement, Mohammed Al Ghaffari, Executive Director, Human Resources, Finance and Administration Division said; “Dubai Customs is committed to continually and sustainably enhancing and developing its workplace boosting levels of positivity and happiness among its employees. Following and inspired by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, we all work together to make Dubai Government the happiest workplace in the world and to fulfil the national uncompromising plans including the UAE Centennial 2071.

“Human capital is the most important asset and the top success factor in every organisation. Being recognised among the top best places to work reflects our dedication and hard work in providing a happy and positive work environment to our employees. At the same time, we highly appreciate the hard work of our employees because without their dedication this achievement would not have come true.”

Eman Al Tahir, Head of Corporate Culture at Dubai Customs said, “The organisation applies the world’s best practices to ensure a happy and competent workplace following the aspirations and vision of the Dubai Government. This was translated into the implementation of several bold projects and plans in HR management.”

Great Place to Work is the global authority on workplace culture. Since 1992, they have surveyed more than 100 million employees worldwide and used those deep insights to define what makes a great workplace – trust.

Source: Emirates News Agency

OPEC daily basket price stands at $72.58 a barrel Friday

VIENNA, The price of OPEC basket of thirteen crudes stood at US$72.58 a barrel on Friday, compared with US$71.64 the previous day, according to OPEC Secretariat calculations.

The OPEC Reference Basket of Crudes is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

Source: Emirates News Agency

21 companies to offer ICV certificates: Ministry of Industry and Advanced Technology

ABU DHABI, The Ministry of Industry and Advanced Technology has announced the details of registration and evaluation services offered through the In-Country Value (ICV) Programme, noting that 21 companies are certified to issue national value-added certificates to suppliers.

In his statement to the Emirates News Agency (WAM), Omar Suwaina Al Suwaidi, Under-Secretary of the Ministry of Industry and Advanced Technology, said that registering in the programme is optional, but suppliers wishing to benefit from the programme must obtain an ICV certificate, which would help drive their businesses.

These companies implement the highest transparency and efficiency standards when issuing certificates, after measuring the supplier’s in-country spending on manufacturing, products and services, its net investment capital in the UAE, wage spending, employee expenses, spending on advanced technology, and research and development, he added.

Moreover, Al Suwaidi explained that the existence of several certification companies ensures various pricing options for applicants, noting that the ministry is currently considering signing an agreement with these companies to provide micro and small enterprises with a fixed price for obtaining the certificate.

Suppliers who join the programme can benefit from the growing demand for local products and services to expand their businesses. Small and medium-sized enterprises (SMEs) and entrepreneurs can also benefit from the opportunity to localise their supply chains and expand their businesses. Under this framework, the Emirates Development Bank allocated AED5 billion from its financing portfolio to support these companies.

The programme offers many competitive advantages, including financing incentives for certificate holders, facilitating the adoption of advanced technologies, and creating opportunities to establishing international partnerships with global companies.

Since His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, of the UAE’s industrial strategy, “Operation 300bn”, in March 2021, the ministry has intensified its efforts to highlight all features of strategy, especially the ICV Programme.

The programme also empowers Emirati industries by assigning more than 42 percent of procurement and specialist services activities of the federal, government and private entities in the UAE to local suppliers, in addition to the attractive incentives associated with the ICV certificate. It will also help drive local industrial activities by leveraging enablers available in the country.

Since its inception, the ICV programme resulted in the redirection of nearly AED88 billion of spending to the local economy, helped create more than 2,000 jobs for UAE nationals in the private sector, while the number of certified suppliers exceeded 5,000 across various sectors.

Source: Emirates News Agency

MoCD organises workshops on international standards for countering money laundering, terrorist financing

DUBAI, The Ministry of Community Development (MoCD) has organised remote workshops targeting regulatory authorities responsible for overseeing and monitoring non-profit associations in Dubai, as part of its efforts to highlight international standards for money laundering, terrorist financing and weapons proliferation issued by the Financial Action Task Force (FATF).

The workshops were attended by 18 specialists representing three regulatory authorities, which are the Community Development Authority, the Islamic Affairs and Charitable Activities Department and the International Humanitarian City.

The workshops highlighted the competence of regulatory authorities based on supervisory and monitoring legislations covering the non-profit associations’ sector, in line with Decree-Law No. 20 of 2018 on countering money laundering crimes, combatting the financing of terrorism and illegal organisations. They also discussed the obligations of non-profit associations and reviewed the mechanisms and evaluation systems adopted by the MoCD.

Nasser Ismail, Assistant Under-Secretary of Social Welfare and Member of the National Committee for Combatting Money Laundering, said, “The workshops are part of a series of awareness and training programmes organised by the ministry to increase and enhance awareness among the regulatory authorities responsible for supervising and monitoring the non-profit associations’ sector, through laws, measures and regulations covering the methods of combatting money laundering, terrorist financing and illegal organisations in the UAE, to reduce the abuse of this sector in terms of supporting and financing terrorism and speeding up social work in the UAE.”

He also stressed the need for all regulatory authorities to achieve the objectives and competencies assigned to them under the enforced legislation, especially risk assessment and activate supervision and monitoring, to increase the efficiency of mutual assessments in the UAE.

Source: Emirates News Agency

Abu Dhabi Golf Club set to host 2021 Women’s Amateur Asia-Pacific Championship

ABU DHABI, Golf in the UAE has received another major boost after the R&A and the Asia-Pacific Golf Confederation (APGC) announced that the 2021 Women’s Amateur Asia-Pacific (WAAP) Championship will be staged at the Abu Dhabi Golf Club in the United Arab Emirates (UAE) from 10-13 November.

The announcement follows on from last month’s news that Dubai Creek Golf & Yacht Club will host this year’s Asia Pacific Amateur Championship, where the region’s best male amateur golfers will go head-to-head for a spot in the Masters Tournament and Open Championship The WAAP, won by home favourite Yuka Yasuda of Japan in 2019, makes a return to the international golf schedule for the first time since the global pandemic interrupted golf championships around the world.

Martin Slumbers, Chief Executive at The R&A, said, “After the disruption caused by the pandemic over the last 18 months, we are excited to be staging the Women’s Amateur Asia-Pacific championship at such a fantastic venue in Abu Dhabi. It is more important than ever to provide opportunities for elite women amateurs to compete in Asia-Pacific and we look forward to another thrilling championship in November.”

Taimur Hassan Amin, Chairman of the APGC, said, “The Women’s Amateur Asia-Pacific championship has been a wonderful addition to the APGC’s golfing calendar and we very much look forward to welcoming it back to the schedule following last year’s postponement due to COVID-19. Not only does the WAAP present our leading female players the chance to compete against their peers but it also acts as an inspiration for all up-and-coming golfers.

“This year’s historic win at the US Women’s Open by Yuka Saso, joint runner-up in the inaugural WAAP, served to underline the importance of this championship as a platform for the game’s development and rising talent in the region.”

Source: Emirates News Agency