November Commerce 2013

Dubai Update
Welcome to the Dubai Commerce newsletter

The first phase in the development of Dubai’s second airport was completed in October as the new passenger terminal at Al Maktoum International welcomed its first commercial flight. The airport will be the largest in the world with an annual passenger capacity of 160 million when it is fully finished.

It is part of the Dubai World Central site, a £19.4 billion project that is due for completion in 2020. The new Aviation District which surrounds the airport, will function as a free zone specialising in logistics as well as providing residential clusters.

To commemorate the occasion, Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai unveiled a ceremonial plaque in the entrance of the departure terminal. In his speech, he said, ‘Al Maktoum International will play a vital role in the future development of Dubai as a centre for trade, commerce, transport and logistics and tourism’.

The opening of Dubai’s second airport is timely as the winner of the host city of Expo 2020 is due to be announced at the end of November. The emirate’s position as a two-airport location can only help to strengthen its bid.

For further information, please visit the Dubai Airports website.

Dubai’s flourishing cultural scene is sometimes overlooked, so the SMCCU has a packed programme of tours and activities for visitors to explore:

- Step back in time with a heritage tour of the historic Al Fahidi District.

- Enjoy a traditional Emirati meal in an authentic Bastakiya house.

- Jumeirah Mosque visits gives guests a unique opportunity to learn about Islam in this beautiful building.

- On a Creekside Tour, guests will cross the water on a traditional Abra taxi, explore the wonderful souks and be treated to Arabic tea, coffee and dates.

- A great way to integrate with the locals and get on in business meetings is to take an Arabic language course .
Recent DTCM News and Other Dubai Events
Dubai continues on economic fast track
The emirate is headed for its fastest economic growth in six years, with an expansion of 4.9 per cent recorded in the first half of 2013. The growth is broad-based, with manufacturing and tourism contributing significantly, as well as property and financial markets.

Dubai’s position as a regional and global trade and financial hub continues to strengthen; one indicator is the 18 per cent growth in emirate’s foreign automobile trade in the first six months of 2013.

Another is the improvement in company results, which in turn is boosting business and consumer confidence and fuelling local and foreign investment in the emirate.

DTCM participates in World Travel Market
Staged annually in London, the World Travel Market is recognised as one of the leading global events for the major players in the travel industry. It provides opportunities for destinations, hotels, attractions and DMCs to meet with trade professionals and buyers from around the world.

DTCM was represented with a fantastic stand including a falconry display, henna tattoos and some delicious Emirati cuisine.

How to get around Dubai

Dubai has long been recognised as the leading trading hub in the Middle East. However, by locating in the emirate, businesses are in prime position to expand into the surrounding emerging markets including Central and South Asia and North and East Africa.

Additional benefits to establishing your business in Dubai include no taxes on profits or incomes, complete freedom of capital movement, sophisticated financial and services sector and excellent communication facilities.

To find out more on how to expand your business by setting up in Dubai, please click on this link.

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Dubai Update is a digest of economic, industrial, commercial, travel and tourism and other news, some of which have appeared in the Dubai press. Items have not been independently verified by the Department. It is sent free of charge to organisations in the UK and Ireland wishing to keep abreast of major developments in Dubai.

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