ABC Newsletter Third Quarter 2013 by AmCham Dubai

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American Business Forum American Business Forum American Business Forum Third Quarter 2013

American Business Forum American Business Forum American Business Forum

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I dentif y D efine E xecute A nalyze S trengthen American Business Forum American Business Forum American Business Forum

American Business Forum American Business Forum American Business Forum

November 10, 2013

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Table of Contents Looking Ahead American Business Forum, I.D.E.A.S.....................................................2 Dubai Airshow Breakfast.......................................................................3 ABC Elections........................................................................................3 Emirati Alumni........................................................................................4 The US Is Open for Business-Michael H. Corbin, US Ambassador to the UAE...............................................................5 Looking Back Knowledge Exchange Series: Economic Sanctions and Compliance Seminar...........................................................................7 The Battle for Unlimited Foreign Earned Income Exclusion..............8 Country Spotlight Series: Iraq & Pakistan...........................................9 US Consul General and Consulate Team Host American Citizen Services Day and Networking Event.................10 Inter-council Networking Event.........................................................11 Community Health Fair in Conjunction with Aetna........................12 The Making of the UAE Flag.....................................................13 Membership Rewards Program..................................................15

Save the Date! ABC invites you to Christmas in the Desert! December 14, 2013

Looking Ahead... ABC in Strategic Partnership with the Dubai Economic Council Brings you the American Business Forum , I.D.E.A.S. November 10, 2013

ince March 2012, the Economic Policy Dialogue (EPD) has served as a government to government umbrella for new and ongoing initiatives that are aimed at deepening economic and commercial ties between the UAE and US. ABC President, Ramsey Jurdi recently traveled to Washington, DC to represent the ABC at programs taking place on the sidelines. In the spirit of the EPD, the American Business Council (ABC) will be holding our annual American Business Forum, I.D.E.A.S. The Dubai Economic Council (DEC) seeks to reinforce the foundation for long-term partnership with the ABC and bring together all stakeholders in Dubai to explore ways to strengthen the trading ties between Dubai and the US. The DEC encourages the contribution of Dubai based American businesses in the interest of the Emirate’s economic agenda. We hope that you will secure a spot for yourself, your colleagues, and your guests at the event. You don’t want to miss your chance to play a pivotal role, as we share insights and identify solutions to help shape the collective voice of American business in Dubai & the Northern Emirates.

This event is sponsored by

I. D. E. A .S. I dentif y D efine E xecute A nalyze S trengthen

American Business Forum Date: Sunday, November 10, 2013 Location: Grand Hyatt Dubai Registration & Networking: 12:00 pm - 12:30 pm Program Begins: 12:30 pm Welcoming Remarks & MOU Signing Cost: ABC Members - 400 AED & Non-members - 600 AED

Panel of Experts Hani R. Al Hamli, Secretary General, Dubai Economic Council (Invited) Jeffrey L. Johnson, President, Boeing Middle East Imad Benmoussa, General Manager, The Coca-Cola Export Corporation Frank J. Kemnetz, Vice President, Exxonmobil Upstream Ventures (Middle East) Khozema Shipchandler, Vice President & CFO, General Electric International

Break-out Sessions There will be six sector meetings on the following topics: • Health Sector • Hospitality, Travel, & Tourism • Transportation, Logistics & GCC Customs • Technology & Interactive Media • Oil, Gas, & Petrochemicals • Infrastructure & Construction

Additionally, there will be four cross-sector/cross-council meetings on: • Labor, Immigration, & Emiratisation • Managing Distribution Chains: Agents & Distributors • Dubai as a base for cross border management • Real Estate: Development, Leasing, & Investment

To register for ABC events please visit us at www.abcdubai.com.

Dubai Airshow Breakfast November 18, 2013 Join ABC Dubai & AmCham Abu Dhabi for this prestigious meeting of senior US military officials, executives from American defense and aerospace industries, diplomats, and participants in the Dubai Airshow.

Monday, November 18, 2013 6:45 am to 9:00 am Dubai World Central Headquarters Gold Sponsors

Silver Sponsor

ABC 2014 Elections November 2013

he ABC elections are just around the corner! The 2014 slate of candidates will be announced during the General Meeting on Tuesday, November 5, 2013. Following the conclusion of the General Meeting the ABC will host a networking event where members can meet and personally talk with the candidates. The election results will then be announced at the Annual General Meeting on Wednesday, November 27, 2013.

To register for ABC events please visit us at www.abcdubai.com.

Emirati Alumni January 2013

he ABC will be hosting the annual Emirati Alumni Event, in association with the US Mission, for UAE Nationals who have studied at US universities. This event highlights the strong bonds that exist between the UAE and the US and

representing 60 alumni groups, as well as young UAE National students seeking the opportunity to study in the US. With attendance for this annual event increasing on a yearly basis, it is clear that the shared belief in the importance

emphasizes the role that higher education can play in bringing communities closer together. Last year’s guests included UAE National alumni from US universities

of education is a crucial element of the strong bilateral relationship between the UAE and US.

This event will be taking place in January, please watch for the invitation!

“Education is a critical tool for building the future. It is no longer possible for countries to build their futures independent from one another. This event celebrates the many connections between the UAE and America that have been fostered through higher education – connections that make each of us stronger, better, and more capable of meeting the challenges facing our world.” 2012 Keynote Speaker, His Highness Sheikh Saud Bin Saqr Al Qasimi, Member of The Supreme Council and Ruler of Ras Al Khaimah

This is event is sponsored by

To register for ABC events please visit us at www.abcdubai.com.

The US Is Open for Business-Michael H. Corbin, US Ambassador to the UAE

The United States is one of the world’s top destinations for foreign direct investment, with nearly $161 billion flowing into the United States in 2012. From CEOs to new entrepreneurs, those looking to expand their operations overseas should know: the United States is open for business. In today’s globalized world, companies can’t afford not to do business with the United States, and the best way to do business with the United States is by being in the United States. Along with highlighting the benefits of investing in the United States, we want to give Emirati businesses the specific tools and help them build the connections they need to make it happen. I invite you to sign up for the inaugural SelectUSA 2013 Investment Summit (www.selectusasummit. com), which will be held in Washington, DC on October 31 and November 1, 2013. Hosted by President Obama, the Summit will include participation by Secretary of State Kerry, Secretary of Commerce Pritzker and Secretary of the Treasury Lew. The United States continues to be a top investment destination for the UAE because of an unparalleled 5

business environment – an environment where research and development and subsequent intellectual property are safe and protected. An environment that is transparent with a predictable legal system that resolves disputes quickly. And an environment with a highly-educated work force, considered the world’s most productive, and an extremely large domestic consumer market with ties to hundreds of millions more. Just as it is in the economic interest of Emirati companies to consider investments in the United States, it is also in our interest to welcome them. UAE investment in the United States is a win-win and reinforces our close bilateral ties. It is in recognition of the positive influence of foreign direct investment that, in 2011, President Obama created the SelectUSA Initiative to facilitate foreign direct investment into the United States and reaffirm the US government’s ongoing and unwavering commitment to an open, welcoming investment climate. For foreign companies and investors wanting to expand their activities to the United States or to use the United States as a base for worldwide exporting initiatives, the Summit is an excellent place to start. The Summit will address practical, nuts-and-bolts issues that new investors need to know, like procedures for applying for business-related visas, innovation safeguarding, and how to export products. Most importantly, the Summit provides access. Participants can meet with senior US government officials, economic development organizations, state officials, and venture capitalists, all of whom are

eager to do business. Participants can meet one-on-one to discuss how to smooth their entries into the American marketplace. Evidence of the successful partnership between the United States and United Arab Emirates business community can be found in the multi-billion Fab 8 Global Foundries campus in the State of New York. With a direct investment from the Mubadalaowned, Advanced Technology Investment Company, construction began in 2009 on this advanced semiconductor manufacturing facility and production is scheduled to begin this year with the aim of producing nearly 60,000 high-tech semiconductor wafers per month at full operation. These wafers are formed into chips that are used in everyday electronic devices such as laptops that are used everyday across the globe. The Fab 8 facility is billed as the most advanced semiconductor manufacturing facility in the world and, thanks to direct investment from the UAE business community, is expected to create at least 2,000 jobs in an area of the United States with limited employment opportunities. To those who want to invest in the United States, or have questions or concerns about investing in the United States, I also invite you to contact SelectUSA through http://www.selectusa.gov, which can help provide information, link your business with economic development organizations at the state, local and regional levels, and provide ombudsman and advocacy services for potential investors. We are working hard to make it simpler for businesses to invest in the United States and to take advantage of the wealth of opportunities available in the United States. Taking your business to the United States doesnâ&#x20AC;&#x2122;t have to be daunting. The size of our country should not serve as a

deterrent, rather as an enticement. Our land is rich in resources and opportunity. Home to some of the most dynamic and diverse cities in the world, our towns and suburbs also offer unparalleled hospitality. Whether youâ&#x20AC;&#x2122;re considering the high-tech corridors of Silicon Valley or the industrial heartland; the gleaming financial towers on Wall Street or the retail shops on Main Street, thereâ&#x20AC;&#x2122;s a place for you in the United States. The U.S. Embassy in Abu Dhabi and US Consulate in Dubai are ready to help you take that first step in expanding your business by investing in the United States. To read the original press release please visit, www.abudhabi.usembassy.gov.

Looking Back... Knowledge Exchange Series: Economic Sanctions and Compliance Seminar October 2013

n Wednesday, October 23rd, ABC hosted an Economic Sanctions and Compliance Seminar as part of its Knowledge Exchange Series. The speakers - ABC President and Chadbourne & Parke International Partner, Ramsey Jurdi; Ernst & Young Executive Director, Stuart Jones Jr.; and United States Treasury Financial Attaché for the Gulf Region, Katherine Bauer - discussed in detail the intricacies of US sanctions in the Middle East and compliance challenges facing businesses in the UAE. Each speaker, coming from three different industries, brought unique perspectives to the event.

Mr. Jones remarked: “It is more important than ever for companies and financial institutions operating in the Middle East and beyond to remain vigilant and take a proactive approach to sanctions and other counter illicit finance compliance matters.” Mr. Jurdi added: “The US Government continues to focus on enacting legislation and enforcing existing laws with respect to blocking access to the US market for non-US entities that continue to conduct significant transactions with Iran.”

“It is more important than ever for companies and financial institutions operating in the Middle East and beyond to remain vigilant and take a proactive approach to sanctions...”

The Battle for Unlimited Foreign Earned Income Exclusion September 2013

n September, ABC’s Executive Vice President, Mr. Bilal Sabouni attended the Middle East Council of American Chambers of Commerce (MECACC) September Steering Committee Meeting and Gala in Bahrain. Mr. Sabouni said that, “MECACC covered many issues in the meeting but the highpoint was Congressman Mick Mulvaney’s announcement that based on MECACC’s appeal, he has been able to place language into Congressman Camp’s Territorial Tax Plan that calls for an unlimited Foreign Earned Income Exclusion. This has been one of MECACC’s toughest battles on Capitol Hill over the years and if it were to pass, it would be great news for all US expatriates.” Mr. Sabouni added that there was a standing applause for Congressman Mulvaney when he stated that he strongly feels trade and US exports create good jobs back in the US and he would support overseas Americans however he could. Congressman Mulvaney made it a point to say that his Washington, DC office door was wide open to MECACC and all MECACC chapters, especially key MECACC members such as the American Business Council of Dubai & the Northern Emirates.

As a call to action for individuals who wish to get involved, MECACC strongly suggests that you reach out to your local representative and make sure they support this bill.

Country Spotlight Series: Iraq & Pakistan April & June 2013

his past April the ABC launched their series of Country Spotlight events aimed at maximizing Dubai’s potential as a regional trade hub. Iraq Iraq was the first county in this captivating series. The conference featured a panel of experts who discussed the business climate as well as logistical, legal, security, and safety aspects of doing business in Iraq. Dubai Exports closed the conference with an overview of the Dubai export/ import market and their contributions to developing long-term growth strategies to expand businesses and maximize the opportunities given by Dubai’s position as a natural trade gateway.

Pakistan In June, ABC held the second Country Spotlight event focusing on Pakistan. This event was designed to provide companies and individuals with the knowledge and contacts necessary to do business in Pakistan. Participants were able to learn about Pakistan’s business climate from multinational corporations that have succeeded there. The expert panel also discussed how businesses could use Pakistan as a hub to export to its neighbors and how to export to Pakistan. Additionally, participants were also able to meet and talk with representatives from the Pakistani and American governments. What country do you want to see spotlighted next? Send your request to events@abcdubai.com.

US Consul General & Consulate Team Host American Citizen Services Day & Networking Event - September 2013

he ABC hosted The United States Consul General, The Honorable Robert Waller, and his team, for American Citizen Services (ACS) Day and

was not looking forward to spending a half day at the Consulate in Bur Dubai. It was a pleasure to zip into the lobby of the Ritz-Carlton and have my service done

networking event on September 9th. The ABC and US Consulate team collaborated to host an event that brought the American community together and kicked off a great afternoon with ACS Day. American Citizens were able to have various Consulate services performed in the convenience of the Ritz-Carlton Dubai International Financial Centre without waiting in lines or requiring an appointment. Long time expat, Carmen Clarke commented, “I was so glad to hear about the ACS Day at the Ritz-Carlton this week. I had a document that I needed to have notarized and I

in a snap by the friendly Consulate Staff. Thank you to the ABC and the Consulate for putting together such a nice outreach for our community. I really appreciated it!” The guest of honor, United States Consul General, The Honorable Robert Waller, closed ACS Day and opened the Monday Mixer with a short speech. The evening continued with the ABC’s monthly networking event, where ABC members networked among each other and were able to speak personally with The Honorable Robert Waller.

Inter-council Networking Event September 2013 “The Inter-Council Networking Event provides a great platform for anyone looking to network with like-minded professionals. Businesses from all sectors in Dubai are represented here tonight.”

he ABC, in conjunction with the Netherlands Business Council of Dubai hosted the quarterly Inter-council Networking Event this past September at the new JW Marriott Marquis on Sheikh Zayed Road. More than 20 councils participated and approximately 1000 guests attended the event, including the United States Consul General, The Honorable Robert Waller, many top executives, and board members from the councils present at the event. Ramsey Jurdi, President of the ABC and International Partner at Chadbourne & Parke remarked: “The Inter-Council Networking Event provides a great platform for anyone looking to network with like-minded professionals. Businesses from all sectors in Dubai are represented here tonight.” The event kicked off at 6:30 in the evening and every half hour fabulous door prizes were given away by Emirates Airline, Emirates Holidays, Maldives Tourism Board, Qantas, Arabian Adventures, Ascots and Chapels, and Shirts by Hand.

Community Health Fair September 2013

eptember was a busy month for ABC with many events, and we ended the month with a successful Community Health Fair. In partnership with Aetna International, ABC invited ABC members, employees of Corporate Members and their HR departments for a morning of free health screenings that included Glucose, BMI, and blood pressure. Additionally, vendors

In partnership with

from various companies offered healthy lifestyle options, memberships and exciting give aways. Participants were able to get advice on anything from healthy eating habits, to exercise, to tips on improving their golf swing.

Community Health

Fair

The Making of the UAE Flag

he ABC has many unique members, all with a story to tell. We recently learned the father of our members stitched together the very first UAE flag. Mr. Mohammad Al Madani, Chairman and CEO of Al Madani Group of Companies is the son of Sheikh Abdul Rahman Al Madani. Sheikh Abdul Rahman is one of the most reputed and oldest tailors in Dubai, who started his one shutter tailoring shop in the mouth of the Dubai creek, facing the Ruler’s office. He was known for his excellent finish and quality of stitching, which made him a favorite among the royal family. He quickly became close to the Dubai Ruler, the late Sheikh Rashid Bin Saeed Al Maktoum, cofounder of the UAE along with late Sheikh Zayed Al Nahyan the first UAE president. Gradually he came to be known as the famous tailor for Dubai’s ruling family, including the late Sheikh Maktoum Bin Rashid and currently Sheikh Mohammad Bin Rashid, Vice President and Prime Minister of the UAE and Ruler of Dubai. Due to his reputation and close relationship to the royal family, Sheikh Abdul Rahman was granted the honor of stitching the very first flag of the UAE. Naturally, the Ruler’s office manager Mr. Humaid Ben Dari, in November of 1971, approached Sheikh Abdul Rahman and requested he stitch the first UAE Flag. This flag was raised by the UAE founder late Sheikh Zayed Bin Sultan Al Nahyan, along with all the seven Emirates’ rulers on December 2nd 1971, announcing the birth of UAE. Sheikh Abdul Rahman still remembers the amount of pressure that he was under to find the material from the

market, and also to complete the job in 24 hours. It was difficult to find the green color, as the black, red and white part were available, since he used to make the Dubai Flag consisting of red and white color. The flag was completed on the night of December 1st, just a day before it was raised by His Highness late Sheikh Zayed Bin Sultan Al Nahyan. Mohammad Al Madani said, “We were all very excited, happy, and proud that the first flag was stitched by us, especially the next day when we watched it on the news as it was raised by the first president of the UAE, late Sheikh Zayed Al Nahyan. We still feel proud, whenever we pass by the flag at the union square in Jumeirah. We still feel a sense of pride as the first flag was stitched by our family and that is our share of contribution to the formation of the UAE. We, as UAE nationals, are very proud of our achievements in this past four decades from a sparsely populated country, not known on the world map, to such glory and the fast growth that we have experienced which is not heard of on the globe. As per the vision of our leader, Sheikh Mohammad Bin Rashid, we want to ensure that the UAE is always number one in every aspect of life including health, education, technology, and infrastructure.”

Membership Rewards Program The American Business Council Membership Rewards Program is an expanding initiative designed to enhance your membership investment and is a benefit open to all members. Our goal is to support American businesses within the United Arab Emirates by promoting an American business referral network, while at the same time enriching the value of membership in the American Business Council.

Current Participating Companies

Dr. Leila Hariri

To see what each company is offering, please visit our membership rewards page at www.abcdubai.com. 15