head dubai, Author at The Dubai Headlines

Food & Beverages

HOW CAN THE FOOD AND BEVERAGE SUPPLY CHAIN IN THE UNITED ARAB EMIRATES ADDRESS PRESENT MARKET DIFFICULTIES?

head dubai August 16, 2023 No Comments

One of the industries in the UAE that is expanding the quickest is the food and beverage (F&B) sector. The fact that Dubai is the melting pot of a people from all over the world with cosmopolitan tastes, high disposable income, luxury, and flashy lives in addition to a thriving tourism industry is driving this sector’s continued expansion. The COVID-19 epidemic caused a significant setback for the entire sector, but things have swiftly recovered. In certain areas, the rebuilding process has further accelerated thanks to people’s retaliation travel, dining, and shopping. A sector that has had significant growth also faces a number of difficulties that raise important concerns about how this business can keep up its momentum.

However, given how the UAE Government has dealt with these obstacles—in addition to encouraging the development of a number of industrial sectors and shipping firms (logistics will be crucial to maintaining the food supply chain)—it should come as no surprise that the F&B sector is well-positioned to overcome these difficulties.

The Obstacles That Raise Some Important Questions

The food and beverage (F&B) business is not only the most lucrative in the world, but it is also the most cutthroat. In the UAE, the same holds true. Newer trends and smart ideas to draw in more clients continue to develop in this area as a number of new companies enter the market at a quick rate, leaving firms with little time to unwind. In order for businesses in this sector to continue experiencing the unprecedent growth they are known for, a number of additional challenges to supply chain management, including rising costs, food safety, product traceability, secured supply chains, and a constant need to keep up with the evolving technology, must be skillfully addressed. Let’s take a closer look at these difficulties.

Cost increases: There has never been a time when it was more important than it is today to maximize productivity and cut costs throughout the supply chain. The grocery retail business is becoming increasingly consolidated, and labor costs are rising. Because fewer retailers are carrying the lion’s share of the burden in a concentrated retail sector, they have more control over cost. Additionally, consumers are growing more cost-conscious and favor larger stores that offer inexpensive goods. This scenario has the potential to completely eliminate smaller market players, placing total control of the supply chain in the hands of a select few major firms.

Secure Supply Chain: Food firms must comprehend and get to know everyone engaged in the manufacture and distribution of the products in order to identify the dangers in the supply chain. The informed consumer of today also wants to know where the food and other products are coming from. End-to-end transparency will improve the process’s transparency, trustworthiness, and efficiency while also reducing inventory.

Product traceability: The UAE government closely monitors the production, processing, and distribution of all food items. This is done to make sure that only the highest-quality items are delivered to clients and that there are very few opportunities for contamination or other wrongdoing. Food firms must have a plan in place that will allow them to track their orders and the entire supply chain of the food goods in order to ensure that all of this is recorded and handled. Implementing this is a tremendous task.

Food safety: It is challenging to produce and preserve food because of the climate and other geographical factors, such as the intense heat and small amount of fertile land. Most of the food that the UAE needs is imported, which makes the supply chain more difficult because food tends to spoil during cross-border shipping.

Measures To Address These Issues

Despite the numerous obstacles, the UAE government is making every effort to improve the F&B industry’s supply chain. Here are a few steps you may take to improve your supply chain management.

Use of the Logistics Sector Efficiently: The UAE must rely on its thriving and capable logistics sector, which has multiple operators deserving of being trusted with managing this intricate supply chain process. The supply chain issue for food goods can be effectively solved by logistics companies thanks to their extensive global networks, top-notch infrastructure, and knowledge.

Government Rules And Regulations: The UAE government has been proactive in assisting the food and beverage sector, particularly logistics firms to ensure that the supply chain is maintained and that there is a low amount of food waste. Making rules and regulations even more streamlined can guarantee that there are no gaps in the procedures.

Consumption and Supply: The F&B sector offers a wide variety of food options. Different locales and time zones have varying levels of demand for these goods. Due to the need to monitor demand and supply, this presents a huge problem for supply chain management. Companies utilize smart devices such as shelf sensors, smart bottles, smart labeling, and developing technologies to address this issue in order to deliver good outcomes.

Demand forecasting: is a strategy that has the potential to significantly address the problem of supply chain disruption. Numerous businesses in the United Arab Emirates are using sophisticated systems to forecast demand and supply as a result of the wide variety of products available on the market and their fluctuating demand in order to make sure that they can provide and supply the necessary products at the appropriate time to the appropriate customers.

Food & Beverages

Challenges Facing The UAE’s Restaurant Industry And Solutions

head dubai August 16, 2023 No Comments

UAE is not just one of the world’s most profitable marketplaces for the food sector, but it’s also one of the most cutthroat. The good news is that as the market becomes saturated, service providers are developing more complex ideas, new trends are emerging, and consumers have an abundance of options. The bad news is that the restaurant business in Dubai, Abu Dhabi, and the rest of the UAE is facing more difficulties than ever.

Regardless of your existing expertise, here is a list of the top hurdles you will encounter in the restaurant sector in the United Arab Emirates. We also go through how you might handle these challenges to open your restaurant. Here are some difficulties restaurants may encounter and solutions!

Higher Rents
While expensive rent seems to be the rule elsewhere in the world, UAE, and particularly Dubai, suffer the most. Depending on the size and format, the typical cost to open a small, independent restaurant in Dubai ranges from AED 500,000 to AED 1.25 million. Even these numbers are based solely on restaurants with 500 square meters to 1,200 square meters of space. Furthermore, capital expenses, rent, and working capital account for 78% of the restaurant industry’s cash outflow. Therefore, the biggest and most immediate problem you will have in Dubai’s restaurant market is exorbitant rentals.How to Avoid Sky-High Rental Prices in the UAE
As for the solutions, you must first realize that there is no getting around this problem, therefore your business might as well bear the entire brunt of it. What we’re trying to say is that while you might be tempted to shop on the cheaper side of the city because Dubai has so many little towns with diverse populations, doing so will only squander your money. Money invested with the right mindset and a clear plan can be recovered.

Consider your target market, restaurant format, cost of obtaining raw ingredients, and menu prices while choosing your site. Look for areas that still meet your needs. Examine the NOC and additional legal documents thoroughly. High rents are unavoidable, therefore you must account for them in your spending plan. In addition, you can cut costs in other areas of running your restaurant, balancing your budget.
Too little business and too much competition
With the “Diversification Pan” in place, Dubai Expo 2020 approaching, and the hospitality and restaurant business occupying the central role in the plan and the associated economic changes, two things have occurred:-

There is now intense competition.
The ratio of customers to restaurants has increased
The basic conclusion of these two impacts is that cannibalization makes it difficult for eateries to compete in the market. Here, cannibalization is distinct from that of rivals. Cannibalization occurs when rivalry intensifies to the point where the entire sector begins to see a general decline in customer demand.

Due to its special place in the country’s shifting economic landscape, the restaurant industry in the UAE has drawn both investors and businesspeople. The outcome was straightforward—too many service providers saturated the market—as there were few actual entry barriers and increased global trade.

The second side of the same coin is that, despite a rise in visitors, the speed of new restaurants opening up shop could not keep up with it. In the end, this led to “The Problem Of Plenty”—a paradoxical scenario in which consumers had too many options since there were too many service providers, making it difficult for them to choose what to invest their money in. Due to increased rivalry, problems and difficulties in the foodservice industry keep becoming worse.

How to Win in the UAE’s Toughest Market
Let’s first simplify this problem and challenge for the restaurant industry. The phrase “The Problem of Plenty” simply refers to the fact that there are so many restaurants that, even while the number of customers generally is growing, the effect of this growth is being spread out throughout the various establishments, which reduces individual profitability.

Now turn your attention to your customers. Customers are still making purchases; they are just doing them in various areas. As a result, the problem can be solved by concentrating on both acquiring new consumers and keeping existing ones. 20% of restaurant patrons account for 80% of business, and all are repeat patrons.
Absence of a USP
The UAE restaurant markets are currently experiencing a distinct issue. Most people looking to enter the restaurant industry lack a USP because it is almost completely saturated. Consumers are bored of the sameness and low quality of the experiences and meals being offered, even when no one is overtly mimicking another. Everything has been done since the UAE is so far ahead in the restaurant business. As a result, it is challenging to develop a completely new offering, in part because of the fierce competition and in part because of the variety of customers, making it challenging to foresee what will succeed and what will fail. How To Be Different From The Competition In The UAE
Conducting thorough market research, finding out what clients want, and tracking industry trends are all feasible solutions to this problem. When a market reaches a specific maturity level, it is struck by certain trends brought on by a shift in consumer habits. Because of this, no market is ever totally steady for an extended period of time, and no industry is ever truly saturated. You will be able to identify gaps in the ostensibly tight-knit market and seize the initiative there as long as you keep an eye on the trends propelling the hospitality sector.

Food & Beverages

Saudi Arabia draws $61.8 million in investments in the food sector.

head dubai August 16, 2023 No Comments

Following the signing of investment agreements worth SR232 million ($61.8 million) by the Saudi Authority for Industrial Cities and Technology Zones, the production of chocolate, yogurt, and fish will rise in Saudi Arabia.

The company, also known as MODON, has won seven contracts totaling 99,400 square meters, mostly benefiting the food and beverage industry in the Kingdom.

During the inaugural iteration of the Saudi Food 2023 show, MODON also finalized two additional agreements to help streamline financing options while encouraging and enabling entrepreneurship.

In the words of Executive Vice President of Business Development at MODON Ali Al-Omeir, these agreements are in line with the goals of the National Industrial Strategies and Saudi Vision 2023, aimed at accomplishing food security for the Kingdom and luring investment projects worth $20 billion into the sector by 2035, as reported by the Saudi Press Agency.

One of the latest investment agreements is for the SR140 million manufacturing of milk and fresh yogurt on 27,400 square meters of industrial land in Jeddah’s Third Industrial City.

Additionally, a space of 25,027 square meters has been designated in Qassim’s Second Industrial City for an SR22 million investment in the production of cocoa, chocolate, and confectionery goods.

Another SR10 million contract was signed, allocating 11,051 square meters in Jeddah’s Third Industrial City for the localization of the fish preservation business and fish products. A separate SR11.8 million contract was signed, allocating 7,400 square meters for the drying, smoking, and salting of fish and fish products.

There was also a contract worth SR40 million to set aside 16,500 square meters at Sudair City for Industry and Business for the production of food boxes, medications, perfumes, and dishes, among other things.

In February of this year, MODON signed contracts and memorandums of understanding for localizing the food and beverage sector in Saudi Arabia with investments up to SR1 billion. This was done on the sidelines of the Gulfood Exhibition 2023 in Dubai, United Arab Emirates.

Additionally, it showed that by the end of 2022, there would be 1,171 food factories with a combined total size of almost 10 million square meters.

entreprenuership

Tips for business setup in Dubai

head dubai August 14, 2023 No Comments

Are you wanting to start up a successful business this year? UAE offers a wealth of business prospects for aspiring entrepreneurs because it is one of the top business destinations in the world. The UAE economy is anticipated to develop annually, and you can even participate in this remarkable growth. A business setup in Dubai is a fantastic opportunity to grow your company and build a reputable brand. In just three to four days, you may start up your firm in 2023. You must have the required paperwork and government approvals, though.

But with significant knowledge and expertise, Flybiz company setup advisors can assist you in setting up a firm in Dubai. To start up a business in Dubai quickly and successfully, use the advice below.

A very attractive business idea

Create a thorough business strategy before opening a company in Dubai. How are you going to draft this business plan? Learn about your rivals and decide what makes you different. Additionally, consider how they were carried out and make a decision regarding how to improve it. Depending on your business activity, choose the type of business. In Dubai, the DED offers more than 2000 business opportunities; pick the most successful one and submit it with your application.

2. Excellent location

Finding a very lucrative location offers a variety of company prospects. Whatever your line of work, location in Dubai is a major source of income. Businesses can be established in the city’s freezone and on the mainland. However, based on your business, you must pick the best location.

It’s a separate area with its own laws and rules when it comes to free zones. The free zone authorities will keep an eye on the businesses and provide the necessary business license. For new businesses and other types of institutions, the freezone offers more benefits. Companies operating in free zones enjoy numerous benefits, including full profit repatriation, single window clearance, and tax exemption.

For investors and company owners, setting up a business on the mainland is a sophisticated alternative. Within the limits of Emirati sovereignty, the enterprises are permitted to conduct business. A mainland license enables your company to reach out to potential customers and guarantees flexible business growth. You must follow the laws and ordinances of the UAE government when conducting business on the mainland.

Therefore, pick the ideal location for results for your business and launch it.

3. Business Permit

Starting a business in Dubai is not possible without a business license. The UAE government offers business-friendly regulations, expedited timescales, and straightforward approval processes. As a result, investors and new businesses frequently choose to operate under a Dubai business license. According to the new FDI law, you won’t need a local sponsor to start your business in Dubai mainland in 2023. As a result, the entrepreneurs are the sole owners of the onshore business.

There is no requirement for a real office space to register your business. The greatest DED package is provided by the Flybiz business setup team for obtaining your business license. Additionally, we collaborate with government agencies to streamline the procedure and deliver the required paperwork for prompt approval.

The four most popular licenses offered in the United Arab Emirates are commercial, industrial, professional, and tourism. You can choose any license and begin doing business in Dubai.

4. Stunning name

Having a reputable name will attract more customers. When a brand name is ingrained in our memory, we return to it repeatedly. However, you must adhere to all naming guidelines while choosing a company name. For instance, you should refrain from using acronyms, references to religion, vulgar language, etc. Ensure that it concludes with the name of your legal entity, such as LLC or Pvt. Ltd. Once you’ve decided on a name, submit a DED registration form to finish the trade name registration process.

5. Decide on a budget.

When starting a business, every dollar counts, so you need to have a predetermined budget. The cost of incorporating a business includes salaries, stock inventories, unreported expenses, licenses, marketing, and advertising. The costs could change, so you should set up money for unforeseen charges. Think big and make future plans while starting a business in Dubai. Make sure your budget allows for potential capital-intensive opportunities and future development.

These are a few suggestions to keep in mind as you prepare to launch your business in Dubai. However, receiving assistance from a knowledgeable startup consultant in the UAE will streamline the procedure and save you time.

entreprenuership

How to Launch a Business in the UAE as a Foreigner

head dubai August 14, 2023 No Comments

There are several procedures involved in starting a business in the UAE as a foreigner, including securing the required visas. Here is a thorough explanation of the procedure:

Choose Your Business Activity: The first step is to choose the type of business you will be running. The kind of license you need to apply for will depend on this.
Select a Business Name: Your company should have a distinctive name that adheres to the UAE’s naming customs.
Select a Business Structure: There are a number of business structures available in the UAE, including the Limited Liability Company (LLC), Free Zone Company, and Sole Proprietorship. The decision is based on your business activities, the amount of control you wish to keep, and your financial situation.
Select a Location: You have the option of establishing your company in one of the several free zones or on the UAE’s mainland. Each has distinct benefits and rules.
Publish Your Company :After deciding on the aforementioned, you can move on with registering your firm. This entails delivering the required paperwork to the appropriate agencies, which may include an application form, a business plan, and copies of passports.
Obtain a Business License: Submit an application for the correct license based on your line of work. This might be a license for a business, profession, industry, or tourism.
After your business has been registered, you can open a corporate bank account. Your business registration paperwork as well as any other conditions required by the bank must be provided.
Acquire visas
STEPS IN VISA PROCESSING: Infographics
To live and work in the UAE as a foreign business owner, you’ll require a visa. Learn the procedure from infographics.

Please keep in mind that the procedure can change based on the particulars of the economic activity and the jurisdiction (mainland or free zone). It is always advisable to speak with a company setup advisor to make sure you adhere to the proper protocols and laws.
Documents Needed for Foreigners Starting a Business in Dubai
The particular paperwork needed for foreigners to open a business in Dubai depends on the license type selected. The following are some essential documents you will normally require:

A copy of your passport is required for all business-related operations in Dubai. A copy of your passport will need to be provided.

Visa Copy: If you are not a resident of the United Arab Emirates, you must present a copy of your visa.

Business Plan: In this document, you should describe the objectives, plans, and budget for your company. It’s a crucial step in the establishment of your company.

If you’re submitting an application for a license on the mainland, you must include a letter of intent from a local sponsor. A letter of intent from a regional sponsor is required. Please be aware that only a small number of activities call for this.

This certificate of good conduct attests to your lack of criminal history. It’s a crucial step in the process of setting up your firm.

Your financial assets and liabilities are displayed in your financial statement. It’s essential for displaying your ability to manage a business’s finances.

Depending on the particulars of the company you have selected license and operating area, you might also need to produce additional documents in addition to these.

Considerations for Expats Before Starting a Business in the UAE or Dubai
Prior to opening a business in Dubai, take into account the following:

Recognizing Local Business Practices: Acquaint yourself with the conventions and procedures that apply locally.
Select the Ideal Location: Since each offers unique advantages, decide whether to locate in the mainland or a free zone.
Recognize the costs associated with launching a business, such as license fees, visa charges, and operations expenditures.The price of launching a business in the UAE as an expat
Depending on the sort of business, the location, and other elements, there are different beginning costs in Dubai. However, you should budget between AED 15,000 and AED 25,000 for a trade license.

entreprenuership

A Guide to Starting a Business in Dubai as a Foreigner or Non-Resident 2023

head dubai August 14, 2023 No Comments

Global business hub Dubai is well known for its friendly business climate, advantageous location, and strong economy. It provides an abundance of options for business owners everywhere, including visitors and non-residents. This article examines the steps involved in launching a business in Dubai as a foreigner, the advantages it provides, and the factors to take into account.

In most cases, foreign business owners can now retain 100% ownership of their companies while also taking advantage of the UAE’s reduced corporation tax rate and 0% personal income tax. One of the most recent developments is the long-term visa, which permits foreigners to reside in the UAE for extended periods of time and perhaps retire here once their jobs are over.

With the right guidance, even non-residents can establish enterprises in the UAE and manage them from anywhere in the globe.
Here are some study results that demonstrate why foreigners choose to call the UAE their home:

In the UAE, 37% of expats intend to retire. This is an increase from 28% in 2021, and the introduction of the Golden Visa and Retirement Visa programs is probably to blame.
In the UAE, 68% of expats are happy with their lives. This shows that the UAE is a well-liked place for expats to settle, even though it is somewhat below the global average of 72%.
The employment prospects, the standard of living, and the climate are the main draws for expats to relocate to the UAE.
Dubai, Abu Dhabi, and Sharjah are the most well-liked cities in the United Arab Emirates for foreigners.
Over 2,000 residents and expatriates were polled in 2023 by the National Bonds.
Here are a few more intriguing survey results:
The UAE is regarded as an excellent place to save money by 76% of respondents.
64% of respondents said they were close to establishing a trustworthy fund.
In the UAE, 80% of respondents said it was simple to get a visa.
Overall, the study revealed that expats enjoy living in the UAE and are typically content with their life there.
Does Dubai Allow Foreigners to Open Businesses?
Yes, Dubai aggressively promotes international investment and permits non-residents to create and run their own companies. The government has put in place rules that encourage foreign direct investment, making it a desirable location for businesspeople everywhere.

Here are some pertinent recent news and updates:

The Dubai Department of Economic Development (DED) stated in January 2023 that it will streamline the application procedure for company licenses for non-residents. The new procedures are intended to facilitate non-resident business establishment in Dubai and increase international investment in the emirate.
The Dubai government stated in April 2023 that it will exclude non-residents who are launching firms in specific industries from the obligatory local sponsorship requirement.Technology, media, and healthcare industries are excluded from the local sponsorship requirement.
The Dubai government is making it simpler than ever for people who are not citizens to open enterprises there. I advise anyone thinking about launching a business in Dubai to follow recent news and updates to be informed about the most recent rules and specifications.
Benefits of Foreign Entrepreneurship in Dubai
The United Arab Emirates (UAE), the second most appealing nation internationally for millionaires, is predicted to draw 4,500 millionaires by the end of 2023, according to an article from Arab News. This is due to the UAE’s cheap taxation system, one of the quickest immunization rates in the world, and Dubai’s role as the site of the first World Expo following COVID-19.

This flood of ultra-wealthy people has also been facilitated by the UAE’s immigration policy, which are intended to draw in private money and foreign talent. Notably, wealthy Russians are beginning to immigrate in huge numbers to the UAE in an effort to avoid the effects of Western sanctions on their nation.

However, China will see the highest net exodus of millionaires, with 13,500 leaving the nation in 2023. By the end of this year, over 6,500 millionaires are anticipated to leave India, while just 3,200 will leave the UK, primarily as a result of post-Brexit economic developments and regulatory changes influencing tax status.

Dubai provides a variety of advantages for international businesspeople, including:

Dubai is one of the world’s fastest-growing and most diverse economies, which offers a stable business environment.
Tax-Effective Economy: The UAE has one of the world’s most competitive tax systems, with a low income tax and no VAT on residential property for companies operating from free zones.
Dubai’s strategic location makes it simple to access new markets.

World-class Amenities: The city provides first-rate public spaces, healthcare, and infrastructure, which raises the standard of living for business owners and their staff.

Dubai consistently ranks as one of the world’s safest travel destinations thanks to its low crime rate and strict adherence to the law.
Low corporation tax rate: The UAE has one of the lowest company tax rates in the world at 0%. You won’t be required to pay corporate taxes on your profits as a result.

There are no limits on foreign ownership of firms in the United Arab Emirates. This implies that regardless of your nationality, you can own 100% of your company.

Dubai is a prominent global center for trade and commerce.

Government that is open to business: Dubai’s government is quite open to business. They are dedicated to fostering a smooth and effective business climate and provide a number of incentives to entice international investment.

Overall, there are more advantages to beginning a business in Dubai as a foreign national than disadvantages. Dubai is a fantastic choice if you’re searching for a business-friendly climate with a low corporate tax rate and no limits on foreign ownership.

Development in Dubai

Dubai is on course to become the world’s first metropolis powered by blockchain

head dubai August 12, 2023 No Comments

Dubai’s infrastructure continues to be the key to its prosperity, and the government has recognized this by dedicating 46% of its 2020 budget to its growth. This dedication to infrastructure development involves work on airport and port facilities as well as public transportation and is essential to assisting a number of economic sectors.
Businesses in Dubai and beyond can apply for e-business residency.
Dubai’s government has made significant infrastructural expenditures, and it also fully supports innovative programs that aim to create an environment where enterprises of the future may prosper.

Dubai, a real-world test site for the future, collaborates with visionary leaders from around the globe to encourage genuine collaboration and creativity. This backing is shown in the government’s establishment of e-business residency, this enables business owners, wherever they are based, to establish virtual firms in Dubai.

Up to ten-year residency permits
Additionally, the city now grants professionals in the medical, scientific, research, and technical domains resident visas valid for up to 10 years. Additionally, Dubai is home to a burgeoning network of incubators and accelerators for startups that are perfectly situated to support companies during their initial phases of growth.

Ideally situated, serving as a testing ground for new ideas

Dubai is strategically situated and can serve as an incubator for a wide variety of enterprises, making it ideal for innovators and those looking to build globally competitive businesses. These four industries are ideal for Dubai.

Healthcare and medicine

By the end of 2021, it is expected that Dubai’s medical and healthcare sector would increase to a value of US$28 billion. According to a report by Fitch Solutions, the healthcare industry in MENA is predicted to increase at a rate of 11.7% compound annual growth rate (CAGR) at constant currency rates, from US$185.5 billion in 2019 to US$243.6 billion in 2023.

Dubai Healthcare City (DHCC), the largest medical free zone in the world, and Emirates SkyPharma, the first and largest multi-airport hub exclusively for temperature-sensitive pharmaceutical shipments, are both located in the city.

A major force behind ICT and technical advancements is health tech.
In order to enable the licensing of new facilities and the application of cutting-edge technology, Dubai Health Authority provides proactive investment facilitation supports and promotes discourse on policies and regulations. This will encourage rollout and increase community access to patient care. Over 75% of outpatient services and over 65% of inpatient services in Dubai are utilized by private sector healthcare providers.

The city is engaged in a number of projects to implement cutting-edge technology in healthcare, including 3D modeling, precision medicine, robotic pharmacy, digitization, health apps, smart fitness, and many others.

Technological innovation
The UAE is one of the top 10 nations in the world, according to KPMG’s Autonomous Vehicles Readiness Index (AVRI), in terms of readiness for driverless vehicles.

Leading logistics technologies will power trade in the future.
The city is also spending a lot of money on incentives to promote the switch to electric vehicles, including free public charging stations, toll-fee exemption, and reductions on vehicle registration.

The fastest transit system in the world moves freight at breakneck speeds.
For instance, the Dubai government is collaborating closely with Virgin Hyperloop One to build the fastest transit system in the world, which would transport both people and freight at previously unfathomable speeds. The cooperation between Virgin Hyperloop One and DP World, which manages Dubai’s ports, is expected to transform Dubai into a regional logistics and support powerhouse.

It is a component of the Cargospeed project of DP World, which seeks to provide superior priority service for on-demand commodities. Not only will freight be delivered at record-breaking speeds, but trucking-like prices will be used to accomplish this. Cargospeed will enable customers to respond swiftly to unexpected needs and keep flexibility at times.

One of the top cities in the world for fashion spending per person

Dubai had one of the highest per-person fashion spending rates in the world last year, at $1,600 USD.Due to its proximity to African and Indian production centers, Dubai makes logistics for the fashion industry more easier. The government of Dubai has reacted by opening the College of Fashion and Design to establish a top-notch educational institution that will promote the rise of both local and international talent in light of the growing presence of international brands and the upsurge in popularity of regional brands such as Elie Saab, House of Nomad, and more.

Development in Dubai

UAE’s economic development will slow in 2023 as a result of market difficulties.

head dubai August 12, 2023 No Comments

A reduction in oil output as a result of OPEC-agreed production limits, a slowdown in the non-oil sector due to increased interest rates, and weak foreign demand are some of the major challenges facing the UAE’s prospects for economic growth in 2023. Global Data predicts that the UAE’s real GDP will rise at a lesser rate of 3% in 2023 compared to the strong 7.6% growth rate seen in 2022.

The oil and gas sector contributes over 30% of the UAE’s GDP and 13% of all exports, according to GlobalData’s most recent research, “Macroeconomic Outlook Report: UAE.” The year 2022 saw a major economic recovery, fueled mostly by rising oil prices, with a growth rate of 7.6%, the highest since 2007.

However, the UAE’s prospects for the current year’s economic growth are directly impacted by the fall in oil and gas prices that has been occurring since the start of 2023 and is predicted to continue throughout the year.

Economic research analyst at GlobalData Indrajit Banerjee makes the following observation: “The government must continue to pursue its goal of diversifying the economy if it wants to reduce the economy’s sensitivity to outside shocks. The UAE Circular Economy Policy 2031, with an emphasis on manufacturing, food, green infrastructure, and sustainable transportation, as well as Abu Dhabi’s plan to invest US$2.7 billion to double the population of the manufacturing sector by 2031, reflect the government’s desire to shift to a more diversified economic base.

The industries that contributed the most to the gross value added (GVA) in 2022 were mining, manufacturing, and utilities, which made up 31.2% of the total. Next came financial intermediation, real estate, and business activities, which made up 22% of the GVA, and the wholesale, retail, and hotel sectors, which made up 15%. GlobalData predicts that these three industries will expand nominally by 2.9%, 3.7%, and 2.5%, respectively, in 2023 as opposed to 9.6%, 12.4%, and 8.4% in 2022.

With an investment of US$23 billion in July 2022, the UAE has started a number of development projects that will open up employment possibilities and greatly increase the construction and related industries. The building of Dubai’s urban tech center and the AED40 billion (US$11 billion) railway network project are only a couple of the ongoing initiatives,

the Rashid Solar Park’s capacity being increased by 2025. The construction activities, which GlobalData predicts will increase by an average of 2% between 2023 and 2025, are anticipated to be driven by these projects.

Export growth is anticipated to drop from 4% in 2022 to 2.6% in 2023 on the international front. Real household consumption spending is anticipated to increase domestically at a slower rate of 4% in 2023 compared to 8.4% in 2022.

In the GlobalData Country Risk Index (GCRI Q4 2022) of 153 countries, the UAE is categorized as a very low risk country and is rated 10th overall. In comparison to other countries, the country has a lower risk score in terms of the macroeconomic, social, and environmental risk criteria, as compared to average of middle east and north African nations.

In 2021, the UAE will hold 4% of the world’s natural gas reserves and 7.2% of the oil reserves, according to a GlobalData study based on statistics from the OPEC database. ADNOC found 650 million bbl of onshore crude oil reserves in Abu Dhabi in May 2022, which was a huge discovery. The hydrocarbon reserves base in the UAE has grown as a result of this discovery. As a result, it is anticipated that the nation will continue to play a significant role as an important producer and exporter of hydrocarbons in the near future.

The UAE’s economic growth projection for 2023 confronts hurdles, but continuous diversification efforts and development initiatives targeted at bolstering the economy will play a crucial role in lessening its sensitivity to outside shocks, according to Banerjee.

Development in Dubai

Plans for biotech in the Middle East are taking form.

head dubai August 12, 2023 No Comments

For the first time in human history, we are fortunate to live at a time where life extension is actually a possibility. Even though we still cannot escape death, science has dramatically increased life expectancy, first with vaccines and subsequently with new medications to treat chronic illnesses.

The Hevolution Foundation in Saudi Arabia announced plans to invest up to $1 billion annually in basic research on the biology of aging and potential pharmacological inhibitors in 2021.

The UAE, a neighboring country, has begun a national initiative to map each Emirati’s DNA in order to provide individualized medical care for each resident. This initiative paves the way for local production, design, and manufacture of cutting-edge medicines for diseases like cancer and diabetes in the future.

For more than 10 years, the area has been interested in biotech as a potential growth sector.

While governments in the area have prioritized research into diseases, extending life expectancy, and producing treatments, investors and regulatory agencies have been investing to establish public-private partnerships with big pharma and upstart biotechs during the past few years. Players in the biopharma industry are developing inventive manufacturing capabilities.

In addition to signing partnerships with top-tier global pharma partners, local drug makers are expanding their local production capacity with new creative therapies for diseases with high frequency due to lifestyle factors, rare genetic abnormalities, and malignancies.

The strategy worked well. As an ecosystem is developed, the biotech and life sciences sector in the area is expanding to new heights.

Proactive healthcare prevention
“Pharma and life sciences developed to the forefront in the Middle East over the pandemic when the supply chain got disrupted, and life-saving medication was not accessible, putting millions of lives at risk,” says Abbas Berdi, a partner at PwC Middle East who specializes in the healthcare sector with a focus on pharmaceutical and life sciences. The inclusion of supply chain resilience and medication supply security in national agendas was sparked by this, according to regional governments.

Instead of combating disease, Berdi contends that proactive preventative healthcare is the main goal. And this quality is especially useful in areas where diabetes and heart disease place a heavy strain on healthcare providers and lead to high rates of hospital admission.

Due to its extensive talent and investor pools, Abu Dhabi, the largest biotech hub in the UAE, attracts both major pharmaceutical corporations and the most promising biotech startups.

According to Kareem Shahin, Chief Business Officer of G42 Healthcare, a major health tech business with offices in Abu Dhabi, “The UAE government made investments in infrastructure, research facilities, and universities to promote innovation in the sector.” Public and private institutions collaborate in the “life science ecosystem” to advance innovation, R&D, and medicines production.

Spending on healthcare

According to recent data, the biotechnology industry is growing rapidly in the area. The biotechnology market in the area is anticipated to reach $2.6 million by 2028, with the UAE and Saudi Arabia holding the highest part of the industry, according to a report by the Dubai Chamber of Commerce. The UAE included $1.3 billion on healthcare and community protection in the federal budget for 2023. According to Marwan Abdulaziz Janahi, Senior Vice President of Dubai Science Park, “the country is currently a regional leader in attracting FDI in the biotechnology sector.”

“With strategic clients like Pfizer, Insulet, and Bayer, our community supports Dubai as an international hub for medical tourism, healthcare excellence, and innovation,” continues Janahi. The neighborhood has purpose-built centers for R&D by himalaya wellness ,Firmenich.

AstraZeneca has revealed intentions to construct headquarters at Dubai Science Park, joining a neighborhood of business titans that already includes GE Healthcare, Sobi, and Bio-Rad. There is also an innovation hub for Zimmer Biomet Holdings. The rise in chronic diseases, in the opinion of experts, is one of the major factors influencing investment in biotechnology in the region.

According to Shahin, the MENA region’s chronic illnesses and pressing demand for better healthcare have produced a large opportunity for biotechnology investment.

Due to a number of causes, such as an aging population, urbanization, and shifts in lifestyle and food, the prevalence of chronic diseases has been continuously rising, placing a considerable load on healthcare systems.

A study found that although the amount spent on healthcare in the area has been expanding quickly, the standard of care has not improved due to poor access to basic services and a lack of qualified healthcare workers. According to Shahin, this has increased demand for fresh and cutting-edge medical treatments, including biotechnology.

Several nations in the region have started population health programs to better healthcare outcomes and lessen the burden of chronic diseases in response to this demand.

The King Abdullah International Medical Research Center, which carries out cutting-edge research in genetics, immunology, and cancer, is located in Saudi Arabia, which is also investing heavily in biotech infrastructure, R&D, and talent acquisition.

Travel & Explore

Dubai Economy & Tourism Welcomes Indian Visitors for a Summer Quick Getaway

head dubai August 11, 2023 No Comments

Celebrities Poonam Dhillon, Divyanka Tripathi, and Vivek Dahiya are featured in the summer advertising campaign for Dubai Economy & Tourism, which highlights an action-packed family vacation! Dubai Economy & Tourism has announced amazing “Kids Go Free” offers at all of the city’s best hotels, hotspots, and attractions.

The season of summertime fun is back, and Dubai is inviting Indian families to visit the city for a break they won’t soon forget. The newest summer advertising campaign for Dubai’s Department of Economy and Tourism debuted with Poonam Dhillon, Divyanka Tripathi, and Vivek Dahiya as a celebrity couple.

The advertisement showcases the abundance of indoor and outdoor activities that families must partake in when visiting the location in order to create lifelong memories. The central theme of the movie is the importance of family ties as it unites three generations in an original plot. Poonam Dhillon portrays a likeable, sporty mother figure who ushers the audience into the multicultural city of Dubai.

Poonam Dhillon and her grandchildren are shown in the creative advertising video “Do you believe it?” as they eagerly recount their day of adventure-filled exploration of the modern metropolis in the sun. With eye-catching, vibrant images of a variety of activities, such as time travel in a shuttle spaceship at Museum of the Future and heart-pounding experiences like the Edgewalk experience at Sky Views.

After a hot air balloon ride to chase the clouds and a desert drive in vintage four-wheel drives, the day is finished at record-breaking speeds on the Storm Coaster.
In discussing the campaign, Bader Ali Habib, Head of South Asia, Dubai Department of Economy and Tourism, said: “With increasing demand for family-friendly experiences among Indian tourists, we seek to promote Dubai’s broad spectrum of services for all travelers, no matter what time of year. With the onboarding of outbound Indian travelers this summer, we hope to highlight the city’s distinctive offerings and draw tourists of all ages, making it an interesting summer vacation destination. This campaign will be launched in India, and we’re excited to see what Indian family tourists will think of it immense value., as they continue to cure their summer itineraries.

Dubai’s Department of Economy and Tourism (DET) is charged with assisting the Government in positioning the emirate as an important transportation hub for global economy and tourism and in raising the city’s economic and tourism competitiveness indicators. The ultimate goal is to make Dubai the world’s leading commercial center, investment hub, and tourist destination. Under this mandate, DET is leading initiatives to further develop Dubai’s innovative, service-based economy in order to draw top talent from around the world, provide a top-notch business environment, and boost productivity development. Additionally, DET is promoting Dubai’s broad destination offering, distinctive lifestyle, and exceptional overall quality of life in order to promote Dubai’s aim of becoming the best city in the world to live and work in.

The primary organization responsible for Dubai’s commercial and tourism sectors’ planning, oversight, development, and marketing is DET. Additionally, it is in charge of classifying and licensing all forms of business, including lodging facilities, tour companies, and travel agencies. In addition to Dubai College of Tourism, Dubai Calendar, and Dubai Business Events, the DET portfolio additionally includes Dubai Corporation for Tourism and Commerce Marketing, Dubai Festivals and Retail Organization, Dubai Industries and Exports, Dubai Investment Development Agency (Dubai FDI), and Dubai SME.