Colonel Saeed bin Belailah, Director of DNRD recently met with Jordan's corporate community to highlight potential business opportunities available in Dubai. The meeting, attended by prominent Jordanian industry leaders and trade representatives was held at the Rotary Club, Jordan.
Speaking at the meeting, Colonel bin Belailah stated, "I am greatly honoured to address this distinguished audience to discuss ways in which we can partner for mutual progress. Dubai represents a thriving commercial center, a city geared towards great progress and innovation, and we are keen to invite Jordan's corporate community to explore the exciting business prospects that this city has to offer".
Colonel bin Belailah stated that the exemplary vision of the late ruler of Dubai, Sheikh Rashid bin Saeed Al Maktoum, now continued by his son, the current Crown Prince of Dubai and UAE Minister of Defence Sheikh Mohammed bin Rashid Al Maktoum, has made Dubai the successful Emirate that it is today. "From a small fishing village of the early 19th Century, Dubai has evolved into one of the busiest commercial centres in the Middle East."
"The vision of these two leaders has initiated extensive social and commercial development in Dubai. Sheikh Mohammed bin Rashid Al Maktoum has, on several occasions, underlined the importance of a widespread acceptance of change; a key factor in achieving economic progress. He has urged Dubai's citizens and corporate community to accept and adapt to change in order to advance in the global economy," continued Colonel bin Belailah. "This drive towards change makes Dubai one of the foremost global commercial centers in the world. Our economy is no longer based solely on oil and mineral wealth, especially with the maturing of the trade and tourism sectors."
Highlighting the infrastructure and facilities offered by Dubai to promote trade, Colonel bin Belailah stated, "Dubai Free Zone has received ISO certification in the field of export and import of cargo for more than 2,800 companies
from over 100 countries. Several multi-national companies, such as Siemens, Nokia, Philips, Shell, Tata and Sony, are attracted to this free zone due to the flexible regulations and the provision of an efficient transport and communication system. Equally important, is the development of the Jebel Ali port that has resulted in a 23 percent increase in the revenues of the Dubai Ports Authority (DPA) in 2003."
The Dubai government has also launched a series of free zones or 'Cities' to promote different trade and business activities such as Dubai Media City for advertising and media companies and Dubai Sports City for sporting events and training programmes. Dubai International Financial Centre (DIFC) offers companies operating in these cities world-class facilities with zero tax and 100 percent foreign ownership.
Expanding on the projects initiated by the government of Dubai, Colonel bin Belailah stated, "In keeping with this tradition of constructing commercial theme zones, Dubai is also in the process of constructing 'Dubailand', a landmark tourist attraction designed to provide a further boost to Dubai's flourishing tourism industry. To capitalize on our rich marine tradition, we are also building a 'Maritime City', 25 million square feet has been designated to this project, which will provide all kinds of marine services to international and national companies. The project also will include a museum for marine research.
"The premium quality of facilities offered by Dubai International Airport (DIA) have also helped us attract business and leisure tourists from across the globe. Having been judged as the best airport in the Middle East region,
DIA is also one of the largest airports in the world, with an annual passenger traffic of over 15 million passengers. The airport is currently undergoing an expansion programme to handle the anticipated increased volumes of passenger
traffic. An estimated 60 million commercial and leisure tourists are expected to visit Dubai by the year 2010," said Colonel bin Belailah.
"Dubai has an annual gold consumption of 150 tons, making it the fastest growing jewellery market in the world Information Technology is also a fast developing field in Dubai and most international IT companies have established their presence here. The liberal economic policies and strong IPR protection laws adopted by Dubai have positioned the city as a hub for the regional Information and Communication Technology (ICT) sector. Worldwide, the ICT sector contributes nearly US$ 1.1 trillion dollars to the global economy," he added.
Emphasizing the government's role in Dubai's economic progress, Colonel bin Belailah concluded, "While Dubai, UAE, enjoys a distinct location advantage, as it is central to the Europe and Asian markets, it is the liberalised
and far-sighted policies adopted by the government of Dubai that have greatly contributed to securing its position as the hub for business in the Middle East."
© 2004 Mena Report (www.menareport.com)
