Day: October 18, 2021

DUBAI, DP World’s leading trade and logistics hub Jebel Ali Free Zone (Jafza) signed a Memorandum of Understanding (MoU) with Arab Bank for Investment and Foreign Trade (Al Masraf) as part of its support to the business operations of SMEs and other licenced enterprises within Jafza.

The agreement strengthens DP World’s commitment to facilitate the business activities of more than 8,700 customers operating within the free zone, helping Jafza achieve its goal of empowering SMEs and attracting entrepreneurs from around the globe.

Abdulla Bin Damithan, CEO and Managing Director of DP World UAE and Jafza, and Charles Doghlass, Acting CEO of Al Masraf, signed the MoU in the presence of senior officials from both parties. Through this partnership, Jafza will enable SMEs to streamline their financial processes, such as account opening, financial documentation, and automation of the remediation process for its partners. The MoU will fully support Jafza and Al Masraf in the record-keeping of licenced businesses in the free zone.

Ahmad Al Haddad, Chief Operating Officer, Parks and Zones, DP World UAE, said, “The SMEs sector contributes to more than 53 percent of the UAE’s non-oil GDP. As per the Ministry of Finance, this figure is set to rise to 60 percent by the end of 2021. We have countless success stories of SMEs that are now international companies with a global reach. To maintain our growth momentum and adhere to the national goals, we are committed to supporting new start-ups through our trade accelerators, business incubators and partnerships with financial institutions.”

Al Haddad added, “Our agreement comes at an important time as Expo 2020 Dubai, a gateway for many business opportunities for SMEs and start-ups has commenced successfully.”

Doghlass remarked, “In line with UAE government’s ambition to enhance the contribution and performance of the SME sector that represents 94 percent of the total number of companies operating in the country providing jobs to more than 86 percent of the private sector workforce, Al Masraf is proud to partner with DP World in its efforts to enhance the business setup and operations of SMEs within Jafza. We have been assigned as a Long-Term Issuer Default Rating (IDR) of ‘A’ in 2020 and 2021 by the leading global credit rating agency Fitch Ratings, and this achievement only demonstrates the bank’s resilience and efficiency.”

Jafza has over the years joined hands with several financial institutions, underpinning its business community that is one of the largest in the region.

Source: Emirates News Agency

DUBAI, The tiny island of Dominica in the Caribbean is promoting itself as a virgin paradise, and as a country open to investments from all over the world, through its pavilion at Expo 2020.

Kenneth Darroux, Minister of Foreign Affairs, International Business and Diaspora Relations, toured the pavilion, which provides a glimpse of the island nation’s plans for development, including sustainable tourism.

Darroux said: “We have full diplomatic relations with the UAE, having set up an embassy in Abu Dhabi. We admire the achievements of the UAE in the past 50 years, and we believe we have a lot to learn from them. We’re inspired by the Expo subtheme of Sustainability, because for several years Dominica has been giving high importance to nature conservation. Our pristine unspoilt environment is perfect for eco-tourism.”

Denise Charles, Minister of Tourism, International Transport and Maritime Initiatives, said: “We want Expo visitors to know the real Dominica, with its 355 rivers, numerous waterfalls, pristine forests, wildlife and nature trails. We’re committed to sustainable tourism, and very soon we’ll have an eco-resort powered by solar and green energy. We also want to promote ourselves as an ambassador of global peace and unity – values we share with the UAE.”

The delegation highlighted several initiatives, including a new airport, currently under construction, that will facilitate direct flights to the island from all parts of the world. The country also has plans for producing geothermal energy.

Ian Douglas, Minister of Trade, Commerce, Entrepreneurship, Innovation, Business and Export Development, said: “The people of Dominica are a resilient lot, as proven by their ability to recover from devastating cyclones that hit the country from time to time. Expo is the right place to raise awareness about our people, as well as the investment opportunities available, including the Citizenship by Investment programme. Through our exposure at Expo 2020, we aim to reach out to new markets, including those in the Middle East and Asia.”

Source: Emirates News Agency

DUBAI, du, from Emirates Integrated Telecommunications Company (EITC), has announced a new collaboration with Digital DEWA, the digital arm of Dubai Electricity and Water Authority (DEWA) and its subsidiary, InfraX, to develop a new 5G use case for smart grids in the city.

The leading UAE telco provider has made invaluable 5G contributions to Emirati society since rollout activities began, providing residents, businesses, and industries with valuable connectivity benefits through the technology.

With 5G housing the capabilities to drive transformative and sustainable impacts, InfraX will now access a highly capable 5G network to deliver a seamless use case that bolsters on-site operational efficiency. The collaboration was announced at GITEX Technology Week 2021, which is currently taking place at Dubai World Trade Centre.

Commenting on the new collaboration, Fahad Al Hassawi, CEO, EITC, said, “du has always been immensely proud of its track record for supporting government entities on integral sustainability projects and ensuring they integrate the necessary technological capabilities for desired outcomes. Therefore, we are delighted to be honouring this tradition once more alongside Digital DEWA and its subsidiary Infra X. This year, we have worked together to deliver numerous tech-based use cases for digital transformation purposes, and the shared success we have enjoyed means we enter this latest project even more prepared. 5G is a fundamental pillar of our society now and in the future, and we are enthused by the prospect of facilitating 5G benefits to propel the industry to new heights.”

Inspired by a shared vision to drive digital transformation through 5G, du will support InfraX and Digital DEWA with 5G use cases integration for operational purposes. With boosting efficiency and reducing water and power supply industry costs topmost priorities in the years ahead, the two parties will deliver on these obligations by automating related processes through the use of robots and drones. With these key enablers set for immediate implementation, project deliverables will subsequently be met through a series of 5G network features and functionalities, including cloud-based artificial intelligence (AI), intelligent power distribution systems, edge computing analytics, thermal cameras, site inspections, video streams, and live broadcasting.

From his side, Marwan bin Haidar, Vice Chairman and Group CEO of Digital DEWA, said, “As Digital DEWA looks to the future, new technologies will be crucial to supporting the government’s vision to promote sustainable development and drive energy and water usage efficiency. We are delighted to announce our collaboration between InfraX and du to meet upcoming technology and transformation aspirations for the local community .”

Source: Emirates News Agency