Day: March 16, 2023

DUBAI, World Logistics Passport (WLP), a Dubai-led global initiative designed to smooth the flow of world trade, has welcomed 14 Vietnamese partners to its global freight loyalty programme, to promote logistics business and benefit the traders and freight forwarders.

The agreements come after collaboration with the Ministry of Industry and Trade of Vietnam (MOIT), Vietnam Logistics Business Association (VLA) and the UAE Embassy in Vietnam.

Launched in 2020, the programme now has strategic partners in 29 global hubs in over 45 countries worldwide, offering customised benefits for its members to reduce costs, save time, remove trade barriers, unlock multimodal trade, smooth the overall trade journey for traders and facilitate access to global markets.

The two signing ceremonies were held in Ha Noi and Ho Chi Minh cities, and signed by Abdulla AlSuwaidi, WLP’s Global Hubs and Partners Manager, with dignitaries and representatives from public and private sector in the logistics industry. It was attended by Dr Bader Abdulla AlMatrooshi, UAE ambassador to Vietnam, Tran Hoang Hai, Deputy Director General of MOIT, Le Duy Hiep, Chairman of VLA, alongside other government officials.

In Hanoi city, WLP signed five partnership agreements with; Vietnam Airlines (VNA), Railway Transport and Trade Joint Stock Company (Ratraco), TandY Superport Vinh Phuc Joint Stock Company (Vietnam SuperPortTM), Vietnam Shippers’ Council (VNSC), and Vietnam Coffee and Cocoa Association (Vicofa).

In Ho Chi Minh city, WLP signed other agreements with; TandM Forwarding Limited (TandM Forwarding), Asean Cargo Gateway Joint Stock Company (ACG), DTK Logistics Solutions Limited Liability Company (DTK), VietJet Aviation Joint Stock Company (Vietjet Air), Sotrans Logistics One Member Company Limited (Sotrans Logistics), Lotus Joint Venture Company (Lotus Port), Gemadept Corporation (Gemadept), Saigon Premier Container Terminal (SPCT) and Saigon Port Joint Stock Company (SGP).

These bring the total number of partners in Vietnam to 20.

Dr Bader Abdulla AlMatrooshi, UAE Ambassador to Vietnam, said, “The UAE is Vietnam’s biggest trade partner in the Middle East with approximately US$8 billion of trade last year. With unique business initiatives like WLP, we will see even bigger trade volumes by enhancing the economic and trade benefits to the member partners of its network. Therefore, we expect more partners to join. We look forward to further working with the Ministry of Industry and Trade and other Vietnamese government entities to take our bilateral relations to new heights.”

Tran Hoang Hai, Deputy Director General of MOIT, said, “Facilitating trade and improving national competitiveness has always been important to the trade industry and the national logistics ecosystem in Vietnam. With the launch of the WLP programme in the country, I hope our logistics industry will achieve a lot of success and enhance Vietnam’s logistics connectivity with the world through WLP’s network.”

Le Duy Hiep, Chairman of Vietnam Logistics Business Association, said, “The successful implementation of the WLP programme will help conduct trade and logistics activities between Vietnam and the countries in WLP’s network more smoothly, especially the markets of Africa and Latin America, where Vietnamese businesses do not have strong direct logistics relationships. As WLP’s partner in Vietnam, VLA will make every effort to promote WLP to a great success.”

bdulla AlSuwaidi, WLP’s Global Hubs and Partners Manager, said, “WLP is a network of multilateral trade that aims to create frictionless trade beyond borders. We provide tailored benefits to help traders save costs and time and open new market opportunities. We are strategically selecting the right partners in the logistics and supply chain industry to address trade barriers and work towards increasing various import and export commodities across all hubs.”

Source: Emirates News Agency

DUBAI, 16th March, 2023 (WAM) — Etihad Credit Insurance (ECI), the UAE Federal export credit company, recently held its first Board of Directors meeting in 2023, chaired by Abdullah bin Touq Al Marri, Minister of Economy and Chairman of the Board at the company’s headquarters in Dubai.

The meeting discussed broader alignment to the initiatives outlined under the “We in the UAE 2031” strategy, which focuses on further developing the UAE’s non-oil exports and offering solutions to address challenges related to trade credit, project financing, and SME development.

bdullah bin Touq Al Marri said, “ECI has played an integral role in supporting the UAE’s economic development, thereby demonstrating the UAE’s capabilities as a global hub for businesses and trade. We take pride in our ability to offer innovative credit solutions and forging strategic partnerships that bolster UAE companies’ competitiveness on a global scale, thereby diversifying the country’s economic development and driving UAE non-oil exports.”

“ECI supports key sectors that enable non-oil domestic projects and will continue to focus on strengthening sectors that are aligned with national priorities. We also will support projects that offer sustainable growth to realize the nation’s ambitious strategy and contribute to achieving the UAE’s vision as it ventures into the next phase of its transformative strategy,” he added.

l Marri praised ECI for its efforts in securing AA- international rating by Fitch for the fourth consecutive year, reflecting on the company’s ability to mitigate potential risks; and reiterating its strong presence in global markets.

Raja Al Mazrouei, Managing Director, and Acting CEO of ECI, stated, “ECI has undergone a rigorous review of its strategy and 2023 business plans in line with the vision and aspirations of the UAE’s leadership. Our efforts align with the four pillars that make up the ambitious ‘We in the UAE 2031’ vision. We will focus on the adoption of the latest technologies and the development of a global interconnected ecosystem and a diverse portfolio of transformative projects, all of which will drive national exports geared towards diversifying the country’s economic streams.”

The Board discussed the company’s milestone achievements in 2022 and reviewed its annual report; which recorded an increase of 26 percent from 2021 in the value of non-oil insured turnover secured for exporters and SMEs, reaching AED 14.4 billion in 2022. The credit export agency also disclosed issuing 8,140 revolving credit limits in 2022; a 23 percent hike from the 6,620 revolving credit limits issued in 2021. Additionally, the value of the company’s underwritten exposure reached AED 8.1 billion; a 45 percent surge from AED 5.6 billion during the same period.

ECI has also protected and facilitated UAE’s non-oil exports to 106 countries, compared to 92 in 2021, while entering new markets, including Egypt, Iraq, Senegal, Kingdom of Saudi Arabia (KSA), India, Ghana, Angola, United Kingdom (UK) and Oman for companies operating across 16 sectors.

The meeting was attended by members of the Board including Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade and Deputy Chairman of ECI; Omar Ahmed Al Suwaidi, Under-Secretary of the Ministry of Industry and Advanced Technology; Sameh Al Qubaisi, Director-General, Department of Economic Development in Abu Dhabi; Saed Mohammed Al Awadi, Chief Executive Officer, Dubai Industries and Exports; Marwan Ahmed Al Ali, Director-General, Ajman Department of Finance; H.H Sheikh Omar bin Saqr Al Qasimi, Executive Director, Investment and Development Office in Ras Al Khaimah; Ahmed Salem Al Yamahi, Deputy Director Department of Finance in Fujairah; Amer Abdul Rahim Kazem, Head of Internal Audit, Emirates NBD; Raja Al Mazrouei, Managing Director, and Acting CEO of ECI; and Omar Mohammd Al Humaidi, Board Secretary and Director, Trade Remedies, Ministry of Economy.

Source: Emirates News Agency

DUBAI, Top regional and global information security officers discussed creating a ‘community of action’ and chalked out strategies to help digital businesses in the region build cyber-resilience at the GISEC CISO Circle, part of GISEC Global 2023.

Held on day two of the event under the theme of ‘Building a united cyber frontier’, the CISO Circle agreed that collaboration and information sharing within the cybersecurity industry is critical to tackling cybercrime, now a constant threat in the digital age.

Since its launch last year, the CISO Circle has brought together like-minded security experts from diverse sectors to exchange insights on tackling cybersecurity challenges and address critical priorities reinforcing business, economic, and national security agendas. The panellists at this year’s CISO Circle were Dr. Mohamed Al-Kuwaiti, Head of the UAE Cybersecurity Council; Dr. Aloysius Cheang, CSO, Huawei Middle East and Central Asia; and Hadi Anwar, Chief Cyber Defence Officer, CPX.

ddressing the CISOs in his keynote speech, Dr. Al-Kuwaiti, stressed the importance of partnerships and collaborations based on the values of trust and transparency to achieve the common goal of building better cyber resilience.

The UAE Cybersecurity Council is showcasing its National Security Operations Centre (NSOC) at GISEC, with Dr. Al-Kuwaiti highlighting its importance, stating: “We cannot control what we cannot measure and we cannot measure without having that visibility, and the NSOC brings us that visibility.” He explained that by connecting all Security Operations Centres (SOCs) across all sectors at a national level, the UAE Cybersecurity Council could deliver greater visibility for the nation’s leadership.

Hadi Anwar, Chief Cyber Defense Officer at CPX, added: “CISOs are faced with many cybersecurity challenges in today’s rapidly changing world. Having a trusted advisor to counsel on best practices is crucial to fight against cybercrime, and now more than ever, it is important to collaborate. A platform such as the CISO Circle enables us to join forces and discuss ways to combat cyber threats and protect the UAE’s cyber landscape.”

Speaking at the GISEC Mainstage, Amer Sharaf, Director, Compliance, Support and Alliances, Dubai Electronic Security Center, discussed the public and private sectors’ efforts to digitally transform Dubai into the safest city in the world.

“It is no surprise that cyber threats are evolving at the same pace as emerging technologies,” said Sharaf. “That’s why we must work together, private and government sectors alike, to develop practices to protect ourselves from potential threats that may arise from these technologies. This is in line with the Dubai Cyber Security Strategy, which aims to place Dubai among the most secure cities electronically in the world.”

Hardware hacker, tech wizard, and author, Joe ‘Kingpin’ Grand, explained to the audience his hardware hacking mindset and showed live demonstrations of some of the more common hacking techniques.

“Cyber-attacks are continuously evolving,” said Grand. “Complex attacks such as Fault Injections and Side-Channel Analysis, which were earlier limited to mostly those with knowledge in engineering, are now more common.” Grand added that it is, therefore, important for organisations to have proper mitigations in place to tackle these attacks. “With the knowledge of hardware hacking, organisations can get into the mindset of an attacker and make their products more secure.”

Dr. Al-Kuwaiti was meanwhile recognised and celebrated by hundreds of cyber leaders from across the world for his outstanding contributions towards advancing global cybersecurity and digital transformation. Dr. Al-Kuwaiti, who is also the Head of Cyber Security for the UAE Government, was presented with the Cybersecurity Excellence Awards’ Global Leadership Award at GISEC Global’s Mainstage, in recognition of his bold mission to spread cyber awareness and culture, develop cyber talent, empower cross-border collaboration, and position the UAE at the forefront of international cyber resilience

ISEC Global, the Middle East’s largest and most impactful cybersecurity event, has grown in size by 50 percent year-on-year, and runs until tomorrow (16 March 2023) at the Dubai World Trade Centre (DWTC), hosting a record 500 exhibiting brands from 53 countries, 300 leading InfoSec and cybersecurity speakers, and 1,000 of the world’s top ethical hackers, to dismantle and demystify the world’s greatest digital threats.

The annual three-day super-connector is hosted by the UAE Cybersecurity Council and organised by DWTC, and takes place amid a rapidly expanding Middle East cybersecurity market that, according to analysts Frost and Sullivan, will grow in value from US$7.5 billion in 2022 to US$31 billion by 2030, clocking 20 percent annual growth.

Source: Emirates News Agency

ABU DHABI, 16th March, 2023 (WAM) The Federal Tax Authority (FTA) has launched the “Muwafaq Package” initiative, which aims to facilitate doing business and tax compliance in the small and medium-sized enterprises (SMEs) sector by offering them a set of customized services, incentives, and privileges.

The initiative is part of the FTA’s strategy to support the Government Accelerators Project, launched by the UAE government to embody the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai. The project aims to apply a new approach to government work and implement major and rapid transformational projects that focus on building the world’s best and most dynamic economy, spearheading major transformations in the economy and across various areas of government work.

In a press statement issued today, the FTA announced that the Muwafaq Package can be accessed by SMEs registered in the tax system in the UAE through the digital tax services platform EmaraTax. The Package offers innovative tax solutions for SMEs registered in the tax system, as well as educational materials about tax systems. It was specifically tailored to SMEs and designed to empower the people behind these projects to be a driving force for the national economy, promoting entrepreneurship and innovation.

Khalid Ali Al Bustani, Director-General of FTA, said the launch of the Muwafaq Package is aimed at supporting the youth in the small and medium-sized enterprises sector. The initiative is in line with the directives of the wise leadership to promote youth empowerment and enable them to play their part in various sectors, including the economic sector.

The Muwafaq Package provides many advantages for SMEs, which they can access by participating in FTA’s training programmes on the basics of tax procedures. These programmes will raise their awareness about and help them comply with tax legislation, especially since SMEs represent the largest category of companies operating in the UAE. The Authority prioritises this important sector in its awareness activities while maintaining contact with other industries.

The Muwafaq Package offers users a set of incentives and privileges to encourage tax compliance, including access to tax accounting programmes and software at competitive prices, immediate appointments with tax relationship managers, special offers on Tax Agent services, and priority for registered SME representatives when completing certain services provided by the Federal Tax Authority.

The Package also allows the FTA to identify the challenges the sector may face, develop solutions to address and overcome them, and provide registrants with tailored educational materials about tax procedures to encourage self-compliance. Additional advantages will be offered to SMEs and will be announced at a later stage.

The FTA aims to ensure an ideal tax environment that encourages self-compliance and adheres to the highest standards of governance and transparency. The Authority also aims to contribute to government efforts to support entrepreneurs and SMEs, given the essential role they play in the success of policies to diversify sources of income, as well as strategies to develop and upskill national human resources.

The Authority expects that implementing Muwafaq Package will raise the level of tax awareness among the people running these companies, and provide proactive services to this large segment of the customers.

Source: Emirates News Agency

DUBAI, Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, Dubai International Horse Fair (DIHF), tml;uDubai International Equestrian Conference and Dubai International Arabian Horse Championship will be held from March 17th to 19th 2023 at Dubai World Trade Centre. Organisers say over 60 exhibitors from 35 countries will participate in the DIHF, which connects a diverse range of equestrian suppliers with horse enthusiasts, owners, breeders, stables and clubs. Suppliers include equipment specialists, veterinarians and feed experts all serving the needs of professional and leisure riders. The annual Fair is one of the largest horse fairs in the world, offering a wide range of horse and equestrian products. It is the most important event in the horse sector in the Middle East and North Africa, attracting more than 10,000 visitors every year. Among other things, horse health and care, horse breeding and husbandry, equestrian sports, riding clothing and equipment, as well as new trends in horses and riding, are presented.

With $4 million in prize money, the Dubai International Arabian Horse Championship will present majestic Arabian horses worth an estimated $1-2 million to horse enthusiasts the world over, displaying the beauty, agility and heritage of purebred Arabian horses

The 2023 edition will finally give the equine industry the opportunity to meet once again, showcasing some of the world’s finest horses and providing an opportunity for the finest breeds to perform on an international stage.

Tariq Al Fahaam

Source: Emirates News Agency

DUBAI, 16th March, 2023 (WAM) — Dubai Culture and Arts Authority (Dubai Culture) has announced its plans to host the first-ever Dubai Calligraphy Biennale, which will take place from 1-31 October 2023. The event will bring together calligraphers and artists from all over the world to showcase their creations and celebrate the significance of calligraphy as an expressive and aesthetic tool.

The Dubai Calligraphy Biennale will build on the success of the Dubai International Arabic Calligraphy Exhibition, which has completed 10 editions. The Biennale aims to offer a unique platform for calligraphy enthusiasts and open up new horizons for talent by showcasing different elements of calligraphy. The event aligns with Dubai’s cultural vision of positioning the emirate as a global hub for culture, creativity, and talent.

The inaugural edition of the Dubai Calligraphy Biennale will feature calligraphy from different languages and cultures. Participants can enter various categories, such as traditional calligraphy, modern calligraphy, ornamentation, digital art, typography, jewellery design, product design, sculpture and public art, textile, and performance. Internationally renowned artists and calligraphers will also present artistic and educational workshops.

Dr. Saeed Mubarak bin Kharbash, CEO of the Arts and Literature Sector at Dubai Culture, said that the Dubai Calligraphy Biennale represents a global platform for discovering human interaction with calligraphy and promoting cultural exchange between societies. He described the event as a landmark in the history of Dubai’s interest in calligraphy art and emphasised the importance of enhancing creative climates in Dubai and supporting the cultural and creative industries.

Dubai Culture invites local, regional, and international creatives to participate in the Dubai Calligraphy Biennale, with an open call from 16th March to 13th May. A committee comprising curators and experts will select the artists and creatives who qualify to participate in the Biennale. The activities of the event will be held in heritage and cultural sites belonging to Dubai Culture, in addition to the Dubai Public Library branches and specific art galleries across Dubai.

Source: Emirates News Agency