Day: November 2, 2021

DUBAI, The Indonesia Investment Authority (INA) have signed a strategic alliance agreement with DP World to enhance Indonesia’s maritime and port sector within the global manufacturing ecosystem. The economic value of this partnership could reach up to US$7.5 billion over the long term.

This partnership will improve the operation of ports, reduce logistics costs, and advance national competitiveness.

As a global leader of data-driven logistics expertise and global infrastructure, Dubai-based DP World will bring world-class technology and best practices to develop new port terminals and assets, enabling greater shipping efficiency and enhancing inter-island and international connectivity.

DP World and INA will form a consortium and working team to explore investments into the logistics infrastructure in Indonesia, including hinterland investments, inland terminals, cargo parks, feeder network systems, landside transport, and industrial zones. They will also explore collaboration with the Indonesia Port Corporations (Pelindo). DP World will seek to leverage its joint investment platform with Caisse de dépôt et placement du Québec (CDPQ) which since its launch in 2016 has invested in 12 port terminals globally across various stages of the asset lifecycle.

INA’s CEO, Ridha Wirakusumah, said this strategic partnership with DP World aligns with INA’s mission to optimise investment in Indonesia’s infrastructure and resources to deliver long-term economic development. INA’s investment focuses on several key sectors, such as airports, ports, toll roads, industrial estates, digital infrastructure, healthcare services, and renewable energy.

Indonesia is the largest archipelago in the world with more than 17,000 islands. Its vast geography makes it reliant on a strong domestic shipping network. Despite historically trailing neighbouring countries in containerisation rate and currently facing issues of high logistics costs, Indonesia is already among the top 15 countries in terms of container traffic and has much potential to grow further. Furthermore, containerisation rate in Indonesia will only increase given the burgeoning domestic consumption and production.

“Indonesia’s maritime and port sector is key to support trade and consumption across the archipelago, and this collaboration with DP World will enable us to resolve issues of high logistics costs and port inefficiencies. Following INA’s rigorous partner selection process, we are confident that DP World can work well with us to create a strong domestic shipping network and add value to investors, businesses and employees. We would like to extend our gratitude to the Ministry of State-Owned Enterprises, Ministry of Finance, Ministry of Transportation, other government agencies and Pelindo for their strong support,” said Wirakusumah.

DP World Group Chairman and CEO Sultan Ahmed Bin Sulayem said, “DP World recognises the vast potential of Indonesia as one of the fastest-growing economies in the world, as well as projects undertaken by the government to improve port facilities. Through our partnership with INA, we are committed to supporting national initiatives that create value and bring in expertise to modernise the Indonesian maritime infrastructure.”

DP World CEO and MD Asia Pacific and Australasia Glen Hilton said, “Together with INA, we will focus on building mutually beneficial relationships with local governments and stakeholders to create value across Indonesia’s supply chain. By combining our experience and disruptive technology with INA’s mandate to maximise economic impact, we are optimistic that we can elevate Indonesia’s supply chain performance.”

DP World will also introduce its global best practices to Indonesia, including operations optimisation, service innovation, disruptive technologies, and safety principles. Cutting-edge logistics technology includes fully automated stacking to eliminate inefficiency, hyperloop systems for fast cargo delivery, and 100% electric sustainable means of cargo transport.

Source: Emirates News Agency

DUBAI, H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, Minister of Finance, announced that the Dubai Electricity and Water Authority (DEWA) will be listed on the Dubai Financial Market (DFM) in the coming months.

The listing is part of the Securities and Exchange Higher Commission’s strategy to increase the size of the stock market in the Emirate to AED3 trillion, raise the competitiveness of bourses and encourage initial public offerings (IPOs).

Sheikh Maktoum highlighted the pivotal role that DEWA has played over the past decades and praised its contribution to Dubai’s development. “DEWA is a key pillar of the development in Dubai. Investing in DEWA is an investment in Dubai’s future.”

His Highness added that the listing will be carried out gradually due to DEWA’s huge asset portfolio.

The DEWA listing, which will allow investors to access shares in profitable companies, represents a major step that will support the financial markets in the Emirate. Dubai plans to list other state-owned companies on the DFM as part of a broader strategy.

Source: Emirates News Agency

DUBAI, Dubai SME has extended AED75.6 million in financial facilities to the Global Village under an agreement to support Emirati business initiatives.

The agreement, signed for the 26th season of Global Village, which runs until 10th of April 2022, aims to provide emerging national projects with an exclusive space in one the best business platforms in Dubai. Under the agreement 25 kiosks have been allocated for Emiratis within Global Village to launch and grow their business.

Dubai SME, through its online registration portal, received more than 200 applications for Global Village. The eligible candidates were selected by a committee comprising representatives of Dubai SME and the Global Village. The 25 kiosks were allocated for startups in the food and beverage (F&B) sector, chiefly restaurants and cafes, wholly owned and operated by UAE nationals. Priority was given to Dubai SME members, existing restaurants/cafes located in Dubai, new concepts, and entrepreneurs seeking to participate in Global Village for the first time.

Being present at Global Village will provide ambitious Emirati entrepreneurs with a stimulating experience and opportunity to experiment with their spirit of innovation and excellence as well as business development skills. The unique exposure will also enable Emirati entrepreneurs to enhance competitiveness and sustainability of their business while also supporting economic development in Dubai and the UAE.

One of the focal points for Dubai SME is to augment the presence of Emirati products in various local and global forums, thereby creating more opportunities for entrepreneurs to turn their ideas into reality and gain further knowledge and experience in successful enterprise.

Abdul Baset Al Janahi, CEO of Dubai SME, commented: “Dubai SME and the Global Village have remained partners for more than 15 seasons. During this period we have supported 689 varied projects, with food and beverage being a strong component in the past five years. The total value of support we have extended under this partnership has now reached AED 75.6 million. We thank the Global Village team for extending their platform to aspiring entrepreneurs.”

Participation in Global Village entitles entrepreneurs to special incentives in addition to various forms of support each season. Average sales achieved by Emirati projects participating in each season is eight million dirhams, which in itself is an incentive for Emirati youth, especially fresh graduates, to become successful and empowered.

Expressing his happiness at the continuing partnership with Dubai SME Bader Anwahi, CEO of Global Village, said: “We believe in the importance of entrepreneurship and its role in promoting innovation, driving economic growth and creating opportunities for the young people of our Nation. Global Village is an exceptional platform for SMEs to gain the necessary expertise to optimally manage projects, develop their business and ultimately achieve their goals.”

Anwahi said that Global Village is also offers great propspects for international businesses. “It’s an ideal platform for any business or project, providing endless opportunities to introduce, and incubate, concepts to the region. Supporting ambitious Emirati youth as they explore new business opportunities in various sectors and build partnerships is important to the economic prosperity of the UAE. We are proud to play a role in strengthening the SME ecosystem in Dubai, enabling SMEs to make remarkable returns on their investment, and supporting the UAE government’s strategy to develop a stronger entrepreneurial ecosystem.”

Entrepreneurs who were part of Global Village during previous seasons have benefitted significantly from the exposure and the support provided by Dubai SME. Marwan Falaknaz, owner of TripX project, said: “Global Village is a unique business platform for launching a new project. The advantages offered by Dubai SME is encouraging too, as it provides working spaces at competitive prices and provides valuable guidance to entrepreneurs in operations and marketing.”

Source: Emirates News Agency

DUBAI, The UAE accounts for 40% of the Netherlands’ exports to the GCC and there is huge potential to expand economic cooperation between the two countries, Tom de Bruijn, the Dutch Minister for Foreign Trade and Development Cooperation has said.

His comments came during a business forum hosted today in Dubai as part of a high-level trade mission to the UAE joined by 50 leading Dutch companies active in key sectors such as water, energy, food, urban design and logistics. The forum was organised by the Consulate General of the Netherlands in Dubai in cooperation with Dubai Chamber.

The minister described the forum and Expo 2020 Dubai as key highlights and components of the trade mission. He referred to Dubai Chamber as an “important and longstanding” partner to the Netherlands and explained how a solid economic foundation has been established under this bilateral partnership. The UAE is home to over 350 Dutch companies, a majority of which are based in Dubai, he noted.

“Trade missions such as these are an important instrument to further enhance our economic ties, to inform companies and connect them to new partners. Therefore, I am happy to introduce these fifty Dutch companies present here today, active in sectors such as water, energy, food, urban design and logistics. They bring sound knowledge and expertise and are well-positioned to cooperate with UAE partners on the challenges of today and tomorrow,” said the Dutch minister.

Addressing participants during the forum, Faisal Belhoul, Board Member of Dubai Chamber of Commerce, said companies specialising in sustainable solutions are well represented in Dubai, and described Expo 2020 Dubai as an ideal platform for forging cross-border partnerships that promote sustainability and sustainable business solutions.

The UAE’s non-oil trade with the Netherlands has grown steadily in recent years, reaching about $3 billion in 2020, Belhoul revealed, calling for UAE and Dutch businesses to align their efforts in key sustainability-focused sectors. He added that the Netherlands ranked as the fifth largest foreign investor in Dubai in terms of the number of FDI projects launched in the emirate.

In addition, Belhoul reiterated Dubai Chamber’s commitment to supporting Dutch businesses and creating new channels for these companies to network with their UAE counterparts and access investment opportunities in the Dubai market.

Source: Emirates News Agency

DUBAI, Dubai Industries & Exports (Dubai IE), the exports promotion and industrial development agency of Dubai Economy, led a team of 13 companies from the UAE to Anuga, the leading global trade fair for the food and beverage (F&B) industry that took place in the German city of Cologne.

Dubai IE led the companies to the event as part of its mandate to accelerate exports out of Dubai and enable the local industrial sector to achieve the targets set in the Dubai Industrial Strategy 2030 as well as the national strategy to raise the industrial sector’s contribution to the GDP to AED 300 billion by 2030 (Operation 300bn) The international trade fair was an opportunity for the UAE companies to present the capabilities they have acquired in manufacturing and meeting the growing global demand for new and diverse food and beverage products. Dubai IE also co-ordinated bilateral meetings between the UAE companies and international buyers from Europe at Anuga.

Dubai FDI, the investment development agency of Dubai Economy, as well as Jebel Ali Free Zone Authority (Jafza) and the Dubai Airport Free Zone also attended the international trade fair as part of the Dubai IE pavilion, which was opened by Hafsa Al Ulama, UAE Ambassador to Germany.

Commented Hafsa Al Ulama: “We are pleased to have the UAE pavilion at Anuga World Expo 2021 as the presence of Emirati companies in this international gathering confirms the importance of the food and beverage sector as well as companies and factories opening in the sector in the UAE. Events like this are critical to bringing together potential partners, particularly during the present global recovery phase after COVID-19.”

She added: “UAE-German relations are witnessing remarkable developments at various levels, and economic and trade cooperation is the most important priority for both countries. The two countries are well-positioned to accelerate bilateral trade exchange, and Dubai Industries & Exports is an important body capable of contributing significantly in this regard. The UAE Embassy in Germany is working closely with Dubai Industries & Exports in converting all potential into opportunities, and creating new ones, for exporters and importers in both countries.”

“The food and beverage industry is one of the most important sectors in Dubai, and one among the six priority sub-sectors identified in the Dubai Industrial Strategy 2030. The food and beverage sector in Dubai has the potential to play a major role in global trade as communities worldwide are increasingly focusing on competitive source markets and food security,” said Engineer Saed Al Awadi, CEO of Dubai Industries & Exports.

Al Awadi added that exports of food and beverage sector in Dubai had witnessed 27.8% growth in 2020 compared to the previous year despite the COVID-19 crisis. Dubai achieved a 90.7% growth in food and beverages exports and 73.1% growth in re-exports of the same during the first half of 2021 compared to the same period in 2020. Overall, the sector contributed 6.1% to non-oil foreign trade in Dubai during this period. Exports had a share of AED9.42 billion and re-exports, AED6.37 billion, in total AED 41.04 billion worth of food and beverage trade in Dubai during the first half of 2021.”

Abdulla Bin Damithan, CEO and Managing Director, DP World UAE and Jafza, said: “At DP World and Jafza, we have a lot to offer to the food and beverage industry and all those participating in Anuga. Our strategic location, which allows access to over 3.5 billion consumers, represents an ideal base for companies operating in this sector. In addition to our facilities in Jebel Ali, companies benefit from the Food and Agricultural terminal at the port. The ample storage capacity for grain and oil silos and advanced covered, temperature-controlled warehouses are suitable for various types of food products. This is complemented by several packaging and assembly facilities. The proximity of Jafza to the Al Maktoum Airport and connections to global ports gives companies easy access to raw materials and the ability to export its products to the whole world via land, sea and air.”

Bin Damithan added: “The food and beverage industry can take advantage of our digital systems to increase the efficiency of the global supply for food and agricultural products. We are committed to our goal of improving the quality of life in the UAE and around the world. Hence, we look forward to inviting global companies to benefit from the sea of opportunities available and share the value it provides.”

Ahmed Al Omari, Director of the Export Markets Development Department at Dubai IE, said: “The number of local food and beverage companies joining us since our first participation in Anuga until the 2021 session has reached 120. This year we had 13 local companies with us at the event from diverse segments such as dates, coffee, soft drinks and edible oils, in addition to various commercial activities related to food and beverage.”

Food and beverage products exported or re-exported from Dubai chiefly include sugar, raw oils of rapeseed, fresh or dried nuts, milk and cream, spirits, vegetables (leguminous) and dates, Al Omari said.

Source: Emirates News Agency