August Commerce 2013

Dubai Update
Welcome to the Dubai Commerce newsletter

The Dubai Chamber of Commerce and Industry (DCCI) has launched the International Business Network (IBN), a new online business community for global companies looking to set-up in the emirate. The main objectives of the initiative are to attract foreign businesses to Dubai and promote the emirate in overseas arenas. It is the first of its kind in the Middle East.

There are many benefits to joining the IBN, including access to advice on establishing a company in the city, business matching opportunities with local partners, contract drafting services and discounted rates for the DCCI’s networking events and conferences. In addition, members can view valuable research documents, including specialised country reports and quarterly business outlook updates, credit rating services and economic studies that will help global members to start trading in the emirate.

Hamad Buamim, director of the DCCI explained, ‘It is a unique and innovative product offering easy investment options for overseas businesses, while opening up the doors of opportunities for its members in new markets of the world. The IBN is an integral part of the Dubai Chamber’s new business strategy, which seeks to expand its membership network globally, while promoting Dubai as a lucrative business and investment destination’.

Last month, the Dubai Chamber announced that a total of 7,153 new members had joined, increasing the total members to over 145,000 by the end of June 2013. For more information on the IBN, please go to the dedicated IBN website.
As Dubai’s economy continues to go from strength to strength, the job market has also followed suit. This month, Dubai Update explores more business sectors that will require specialist employment skills.

Green laws, such as the Green Building Regulations and Specifications, have recently been implemented in order to improve the environment. As a result, there has been an increase in sustainability consultants.

There has been an increase in awareness about indoor pollution caused by paints, carpets and furniture. Consequently, there are opportunities for Residential Environmental Assessment specialists. Exhibitions are ideal for specialist businesses to market to their potential audience.

According to a recent survey, more finance jobs are expected to be created in the next six months. Financial management and control, accounting and tax specialists are expected to be in particular demand.
Recent DTCM News and Other Dubai Events
Work starts on Dubai's new cultural quarter project
Situated in Downtown Dubai near the Burj Khalifa, the site will include a museum, two art hotels and an opera house.

HH Sheikh Mohammed Bin Rashid Al Maktoum commented that the project will, ‘not only encourage our talented local artists but also facilitate global cultural exchange’.

The development is due for completion in 2014 and a scale-model of one of the buildings has been on display in a special tent at the Downtown Ramada. To find out more, please visit this page.

Business Competition Winners Selected
Four SMEs have been chosen as winners of the recent competition to win a fact-finding trip to Dubai. There was a shortlisting process and the finalists made a presentation to a panel of judges made up of members from the DTCM Commerce department, British Expertise and the Middle East Association.

Areen Hospitality Design, Pagefield PR, Volatile Media and Beale and Company Solicitors LLP were then selected as winners of the prize, which include flights courtesy of Emirates and accommodation in the spectacular Jumeirah Emirates Towers.

How to get around Dubai

It is always advisable for expatriates to have private medical cover in Dubai and this may be covered by your employer. However, Dubai residents can also apply for a Health Card, which entitles the holder to low cost medical treatment at public hospitals and clinics.

To get the card, an application form must be completed along with a copy of your passport and visa application, a covering letter from your sponsor and two passport sized photos. For more information, please see this dedicated web page.

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