The American Business Council o f
D u b a i & t h e N o r t h e r n E m i r at e s CHAPTER, U.S. CHAMBER OF COMMERCE
Where Business Gets Done The Year
in
Review
2013 - T h e y e a r D u b a i w a s a w a r d e d Expo 2020!
Table of Contents Who We Are......................................................................................................................3
Mission...............................................................................................................................3
2014 Board of Directors.............................................................................................4
Thank You to our Supporters..................................................................................5
Affiliations
U.S. Chamber of Commerce................................................................................6
Dubai Chamber of Commerce & Industry..........................................................6
U.S. Mission in the U.A.E..........................................................................................6
MECACC...................................................................................................................7
Doorknock Washington, DC..................................................................................7
U.S.-U.A.E. Business Council.....................................................................................7
Publications
Membership Directory.............................................................................................8
Quarterly Newsletter................................................................................................8
Website......................................................................................................................8
ABC Highlights..............................................................................................................9
Community Celebrations..........................................................................................34
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ABC 2014
Who We Are The American Business Council of Dubai & the Northern Emirates operates under the auspices of the Dubai Chamber of Commerce & Industry and functions as a Chapter of the U.S. Chamber of Commerce. Since its founding in 1985, the American Business Council has supported U.S. business interests in Dubai & the Northern Emirates and acts as a liaison between government and commercial enterprises. The American Business Council is a 500 plus member-driven organization. Fortune 500 companies and key business leaders are well represented among the members of the American Business Council. The American Business Council provides a forum for understanding and interaction between the local business community and members of the American Business Council. Members are supported through a robust calendar of informational programs, roundtable discussions, and business networking opportunities.
Mission We exist to: Act as the catalyst of American Business in Dubai & Northern Emirates. Be the consolidated voice of the American business community. Coordinate networking among Americans and with regional business communities. Drive knowledge sharing and information distribution to facilitate and improve American business.
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A B C 2 014
2014 Board of Directors
Ramsey Jurdi President
Bilal Sabouni Executive Vice
Huw Gilbert Board Member
Paul L. Smith Board Member
Sammy Bousaba Vice President of Programs
Antoine Tayyar Vice President of Membership
Mohamad Itani Board Member
Zubair Razzaq Board Member
Matthew Ficco Vice President of Financial Affairs & Treasurer
Charles Laubach Vice President of Legal Affairs & Secretary
Kathleen Jones Board Member
President
Robert Bannerman Principal Commercial Officer U.S. Consulate Dubai
4
John Podgore Ex-Officio
Cara Nazari Executive Director
ABC 2014
Thank You to Our Supporters
President’s Club
Vice President’s Club
Strategic Partner
5
A ffil iat ion s
U.S. Chamber of Commerce The United States Chamber of Commerce (USCC) is the world’s largest business organization representing the interests of more than three million businesses of all sizes, sectors, and regions. Members range from mom-and-pop shops and local chambers to leading industry associations and large corporations. The Chamber is staffed with policy specialists, lobbyists, and lawyers. Politically, the Chamber is generally considered to be a conservative organization. The Chamber is one of the largest lobbying groups in the U.S., spending more money than any other lobbying organization on a yearly basis. The U.S. Chamber of Commerce was created on April 22, 1912 by President Taft and celebrated it’s 100th anniversary in 2012. www.uschamber.com
Dubai Chamber of Commerce & Industry Dubai Chamber of Commerce & Industry is a leading chamber of commerce in the Middle East and has kept pace with the rise of the Emirate of Dubai as one of the fastest growing cities in the world. This apex facilitator of business serves over 100,000 members with world-class services and helps the business community develop its commercial activities and compete in the global market. Dubai Chamber’s mission is to represent, support, and protect the interests of the business community in Dubai, while, its strategic objectives are to create a favorable business environment, support the development of business, and promote Dubai as an international business hub. The Chamber plays a significant role in enhancing competitiveness, voicing, and influencing policies of interests to its members and to local, regional and international authorities. Dubai Chamber established 24 business groups representing different economic sectors in Dubai, 39 business councils which represent the Dubai-based foreign companies according to nationality, and 70 trade centers for a number of countries. www.dubaichamber.com
U.S. Mission in the U.A.E. In 2014, the U.S. celebrated 43 years of diplomatic relations with the United Arab Emirates. Working in cooperation with public and private partners across the U.A.E., the U.S. Consulate General in Dubai, along with the U.S. Embassy in Abu Dhabi, supports a range of programs reflecting the depth and breadth of the U.S.-U.A.E. diplomatic relationship. The new Consulate General is a LEED-certified green building, with facilities that dramatically enhance its abilities to serve the public in Dubai and the Northern Emirates. The Consulate General hosts a public educational advising center, a service of the global EducationUSA advising program; each year, EducationUSA assists thousands of students in the U.A.E. who are considering study at one of the more than 4,000 accredited colleges and universities in the U.S.
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A ffili ation s
MECACC In recent years, the Middle East Council of American Chambers of Commerce (MECACC) has established itself as the voice of American business in the vital Gulf Region. An affiliate of the United States Chamber of Commerce, the MECACC comprises ten American chambers of commerce (AmCham) operating in the region. MECACC was officially established in 1989. Since its inception, this voluntary, nonpartisan, and nonprofit organization has actively fostered improved economic relations between the U.S. and the GCC countries through trade and investment, as well as cross-cultural exchange and mutual understanding. The MECACC is widely recognized for its contributions in these areas, both in the U.S. and the Gulf, and it continues to play an instrumental role in building economic, political and cultural bridges between the two regions. Together with its AmCham members, the MECACC has also worked hard to assist U.S. companies competing for a share of the region’s lucrative export market. Many of America’s competitors have developed sophisticated export strategies which provide strong, direct government support for their citizens and companies in overseas markets. The MECACC, working closely with the U.S. Government, is committed to leveling the playing field for American companies and going head-to-head with global competition. www.mecacc.org
Doorknock Washington, DC Every year a “Doorknock” delegation from ABC and MECACC visits Washington, DC and the U.S. Chamber of Commerce to represent American business interests. In 2014 MECACC continued their everlasting work to educate Congress and their staff about the Foreign Earned Income Exclusion (FEIE) in the context of job creation, exports, trade and economic growth. This effort remains a defensive play as well as an attempt to level the playing field for Americans living and working abroad. MECACC’s presence on the Hill again reinforced the message: Americans Abroad = U.S. Exports = Jobs at Home
U.S.-U.A.E. Business Council The U.S.-U.A.E. Business Council is a progressive business advocacy organization solely committed to the advancement of the trade and commercial relationship between the United States and the United Arab Emirates. The U.S.-U.A.E. Business Council provides its diverse membership unparalleled access to senior decision makers in business and government in the U.A.E. and in the U.S. The Business Council actively works to ensure that the U.S. and U.A.E. remain attractive destinations for foreign direct investment by conducting effective policy advocacy, undertaking various trade promotion initiatives, providing ongoing updates on the business climate in both countries, and helping develop strategic relationships between U.S. and U.A.E. business and government officials.
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P u blic at ion s
Membership Directory
,
As a valuable benefit to our members, the ABC publishes an annual membership directory, both in hard copy and with current updates online at www.abcdubai.com. The directory includes detailed information about members, both business and individuals, important information on doing business in the U.A.E., as well as contact information for regional AmChams and U.S. Government offices. This directory has proven to be an invaluable resource for business professionals, dignitaries and other interested parties within the U.A.E. and around the world.
RSHIP
MEMBE
TO R Y D IR EC 2013
Quarterly Newsletter ABC’s quarterly online newsletter includes relevant business topics, a calendar of events, U.S. Chamber of Commerce news and corporate news from ABC member contributors. The newsletter has a wide circulation including members, local and U.S. Government offices, friends of the ABC and regional AmChams. Advertising opportunities are available.
Website The ABC website is the best resource for getting the most out of the ABC. The website gives the opportunity to join, generate business, raise awareness, create value, network, set up alliances and work together. The ABC creates valuable benefits to the membership through the online directory, business resources, advertising opportunities, member rewards, and event payment and registration. The ABC continues to enhance the site with the members in mind. www.abcdubai.com
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A B C H ighl ig h ts
ABC EVENTS The American Business Council actively represents U.S. business interests in Dubai & the Northern Emirates, while maintaining strong ties with the leaders of the communities in which their members live and work. This past year the ABC held an array of business events including: Our productive seminars from our popular Knowledge Exchange Series; Numerous business roundtables where member voices were heard; Most recently, the hugely successful, American Business Forum, I.D.E.A.S.; And in the spring we hosted the highest level Cabinet member in recent history, the U.S. Secretary of Commerce, Penny Pritzker.
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A B C H ighl ig h ts
Knowledge Exchange: ABC Hosts Sanctions Compliance Seminar October 23, 2013
O
n Wednesday, October 23 rd, the ABC
Mr. Jones remarked: “It is more important than ever for
hosted
and
companies and financial institutions operating in the
an
Economic
Compliance
Seminar
Sanctions
its
Middle East and beyond to remain vigilant and take
Knowledge Exchange Series. The speakers
as
part
of
a proactive approach to sanctions and other counter
- ABC President and Chadbourne & Parke International
illicit finance compliance matters.” Mr. Jurdi added:
Partner, Ramsey Jurdi; Ernst & Young Executive
“The U.S. Government continues to focus on enacting
Director, Stuart Jones Jr.; and United States Treasury
legislation and enforcing existing laws with respect to
Financial Attaché for the Gulf Region, Katherine Bauer
blocking access to the U.S. market for non-U.S. entities
- discussed in detail the intricacies of U.S. sanctions in
that continue to conduct significant transactions with
the Middle East and compliance challenges facing
Iran.”
businesses in the U.A.E. Each speaker, coming from three different industries, brought unique perspectives to the event.
ABC Hosts American Business Forum, I.D.E.A.S. November 10, 2013
T
he ABC, in strategic partnership with the Dubai
the Strata Global Foundries investment in New York State.
Economic
business
The principle behind the Forum is to bring together all
leaders from the U.S. and the U.A.E. to discuss
Council
(DEC),
joined
stakeholders in Dubai in order to explore ways to support
important business issues and solutions at the
trade and investment between the U.S. and the U.A.E.
annual American Business Forum, I.D.E.A.S., on Sunday, November 10, 2013 at the Grand Hyatt Dubai.
A major highlight of the Forum was the panel of experts discussion moderated by ABC President and Chadbourne
Hosted and organized by the ABC, the conference
& Parke International Partner, Ramsey Jurdi. The panel
highlighted the ongoing Economic Policy Dialogue (EPD)
included:
between the U.S. and the U.A.E., which served as the inspiration for the Forum. Since March 2012, the EPD has
His Excellency Hani R. Al Hamli
served as a government to government umbrella for new
Secretary General
and ongoing initiatives that are aimed at deepening
Dubai Economic Council
economic and commercial ties between the U.A.E. and U.S. The ABC, in seeking to actively engage all parties
Jeffrey L. Johnson
for the maximum benefit of the business community,
President
signed a Memorandum of Understanding with the DEC
Boeing Middle East
during the annual Forum, creating a solid partnership. Given the close relationship between the U.S. and the
Imad Benmoussa
U.A.E., reinforcing the bond between the two countries
General Manager
is a priority, both economically and politically. Total trade
The Coca-Cola Export Corporation
between the U.S. and the U.A.E. reached a record-high of $24.8 billion in 2012, making the U.A.E. the largest trading
Frank J. Kemnetz
partner regionally with the U.S. Additionally, the U.A.E. was
Vice President
the 17th largest export destination for U.S. goods worldwide
ExxonMobil Upstream Ventures (Middle East)
in 2012. American businesses continue to capitalize on
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this momentum, while also strengthening the U.A.E.’s
Timothy J. Richards
economy. U.A.E. businesses are also increasing their
Managing Director, Government Affairs & Policy
investment opportunities in the U.S., for example through
General Electric
A B C H ighl ig h ts The panel discussed how challenges to the U.S.-U.A.E.
“In 2009, President Obama launched the National
bilateral trade relationship have been overcome to
Export Initiative to double U.S. exports in five years, thus
generate today’s strong and growing bilateral trade
creating jobs at home and economic opportunity
figures. The panelists’ dialogue consisted of topics
abroad. I’m pleased to report that here in the U.A.E.,
ranging from supply chain to education and how they
thanks in part to public and private advocacy, we are
successfully integrated into the U.A.E. business arena. This
not only on track to meet that goal but to exceed it.
distinguished panel cited many factors that contributed
Thanks to all of you here, we are ahead of schedule and
to their accomplishments including how the U.A.E. has
the National Export Initiative is alive and well here in the
employed farsighted leadership that is open to working
U.A.E.” His Excellency, Hani Al Hamli added, “The U.A.E. is
with international companies and is committed to
committed to promote bilateral cooperation with dozens
infrastructure and the best technology.
of countries around the world from the east to the west; however, we look at the United States as a strategic
The sector specific roundtables were facilitated by industry
partner, given the historic relationship between the two
leaders and focused on identifying challenges facing
countries. Furthermore, the structure and sophistication
particular sectors and harnessing potential synergies
of this relationship exceeds mere goods and services,
going forward. These break-out sessions included:
to cover a spectrum of activities including education, training, culture, healthcare, science and technology.”
Health Sector
Mr. Al Hamli praised the ABC for its enthusiasm and efforts
Hospitality, Travel, & Tourism
to underpin a concrete foundation for long-term and
Transportation, Logistics & GCC Customs
strategic partnership and also for the ABC’s initiative of
Technology & Interactive Media
holding a forum that brought together all stakeholders in
Oil, Gas, & Petrochemicals
Dubai and the Northern Emirates.
Infrastructure & Construction The event was sponsored by DynCorp International The opening remarks were given by U.S. Consul General
with support from the International New York Times and
in Dubai, the Honorable Robert Waller. Mr. Waller stated,
Khaleej Times.
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A B C H ighl ig h ts
ABC and AmCham Abu Dhabi Host Dubai Airshow Breakfast Featuring Assistant Secretary of Defense November 18, 2013
“The Department of Defense is improving the U.S. Government’s and U.S. industry’s
T
he
Abu
Acquisition, Technology and Logistics. Ms.
Dhabi held a breakfast meeting
ABC
and
McFarland began her civil service career
on
Monday,
AmCham
18,
at Headquarters Marine Corps, which
2013 at Dubai World Central
November
lead her to the Department of National
Headquarters on the sidelines of the
Defense in Ontario, where she performed
13th Dubai Airshow. Prominent members
Procurement Head of Electronics duties.
of the American business community
Her career progressed to Director for
came to hear insights from Ms. Katrina
Acquisition for the Missile Defense Agency,
G. McFarland, U.S. Assistant Secretary of
where Ms. McFarland’s advice led to over
Defense (Acquisition), regarding the U.S.
$37 billion of sole source procurement
defense
activity being opened up to competition.
sector.
Prior to becoming Assistant Secretary
ability to promote
The ABC-AmCham joint breakfast is held
of Defense (Acquisition) she served as
during each Dubai Airshow to support
President of the Defense Acquisition
and implement
the local American and Emirati business
University, where she continued to build
communities and their interaction with
the university’s outstanding reputation
defense exports
the many visiting U.S. aerospace and
as the Department of Defense’s primary
defense industry executives.
learning institution.
in support of our
profile event has become a tradition among U.S. military, diplomats, and local
The
foreign policy
and visiting industry CEOs. Attendees
showcase of aviation and air defense
included: U.S. Ambassador to the U.A.E.,
products in the Middle East and typically
and national
The Honorable Michael Corbin; U.S.
results in billions of dollars of aircraft and
Ambassador to the State of Qatar, The
defense contracts. This year’s show was
Honorable Susan L. Ziadeh; U.S. Consul
the largest in its history and was held at
General in Dubai, The Honorable Robert
the new Al Maktoum International Airport
Waller; Federal Aviation Administration
in Dubai. Matthew Byrd and Ramsey Jurdi
Director of Europe, Africa & Middle East,
expressed their enthusiasm for the strong
Catherine Lang; AmCham Abu Dhabi
presence of U.S. aviation and defense
Chairman, Matthew E. Byrd; and ABC
companies, which are key components
President, Ramsey Jurdi.
of American industry. ABC Dubai and
security objectives. Current and future efficiencies achieved through these efforts will help us build, field, and support better defense equipment for ourselves, our allies, and our friends.”
This high-
Airshow
is
the
premiere
AmCham Abu Dhabi are proud to During
her
McFarland of
Defense
keynote stated, is
address,
“The
Ms.
partner with the Dubai Airshow, which
Department
uniquely showcases American businesses
improving
the
U.S.
operating in the U.A.E.
Government’s and U.S. industry’s ability to promote and implement defense
This joint event was sponsored by Aerojet
exports in support of our foreign policy
Rocketdyne, Lockheed Martin, Boeing,
and national security objectives. Current
DynCorp International, Bell Helicopter,
and future efficiencies achieved through
with support from Kallman Worldwide
these efforts will help us build, field, and
and Dubai World Central.
support better defense equipment for ourselves, our allies, and our friends.” Ms. McFarland currently serves as the principal adviser on matters relating to acquisition to the Secretary of Defense and the Under Secretary of Defense for
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Dubai
A B C H ighl ig h ts
13
A B C H ighl ig h ts
Arab Health Breakfast January 28, 2014
“The U.S. pavilion in 2014 is the largest ever. Surely a clear indication
During his keynote address, Mr. Abuissa
Dubai & the Northern Emirates
highlighted a few of the opportunities
hosted industry leaders from all
the ABC Health Sector Task Force was
areas of the health sector, Arab
focusing on, and gave recommendations
Health exhibitors, local representatives,
for further expanding U.S. healthcare-
and government officials at its annual
related business in the U.A.E. In his
Arab
Tuesday,
comments, Mr. Abuissa noted “The task
January 28, 2014 at The Oberoi in Dubai.
force is charged with maximizing U.S.
Last year U.S. exhibitors at the Arab Health
business engagement in the U.A.E., and
Expo posted more than $200 million dollars
we need to work towards fostering a more
in sales and this year are on track to
informed conversation about health,
exceed this number. This strategic event
disease and treatments between patients
is held each year on the sidelines of the
and their healthcare practitioners. Seeing
Arab Health Expo and highlights the work
these challenges addressed will become
of the ABC Health Sector Task Force. The
a cornerstone of the health sector task
breakfast welcomed U.S. Ambassador
force for 2014.”
Health
Breakfast
on
to the U.A.E., The Honorable Michael Corbin; U.S. Consul General in Dubai,
As a key supporter of the Arab Health
The Honorable Robert Waller; Country
Breakfast and long term partner of the
Manager at Pfizer and Chairman of the
ABC, Tom Kallman stated, “The U.S.
ABC Health Sector Task Force, Zeydan
pavilion in 2014 is the largest ever. Surely
Abuissa; and host of the U.S. International
a clear indication that U.S. exporters are
Pavilion at Arab Health 2014 and CEO of
looking to the region for further growth.”
Kallman Worldwide Inc., Tom Kallman. Other key guests included Regional ABC President, Ramsey Jurdi opened the
General Manager of the Middle East &
that U.S.
breakfast by saying “The U.A.E. has moved
Africa at Aetna International, Hisham
from a regional hub to an international
Radwan; President of the U.S.-U.A.E.
hub
Business
exporters
continues to offer significant business
Executive Director for the Center for Trade
opportunities for American business, and
Development, Office of International
the future is very optimistic. American
Business Development at the Pennsylvania
are looking
contributions will ease the transition to
Department of Community & Economic
the next level, and ABC’s objective to
Development, Peter O’Neill; Managing
be the voice of American business will
Director, Export Office at the Michigan
to the
bring added value to our members by
Economic
acting as an advocate for U.S. business
Deanna Richeson; and Deputy Secretary
interests in the U.A.E.” U.S. Consul General
and COO at the Wisconsin Economic
in Dubai, The Honorable Robert Waller
Development Corporation, Ryan Murray.
region for further growth.” 14
T
he American Business Council of
and
the
U.A.E.
health
sector
also addressed the group by noting the local business environment and the surge in bilateral trade between the U.S. and the U.A.E. over the past several years has contributed to the success of many American businesses at home. Following Mr. Waller’s remarks Mr. Jurdi introduced Zeydan Abuissa.
Council,
Danny
Development
Sebright;
Corporation,
A B C H ighl ig h ts
From left to right: Executive Director for the Center for Trade Development, Office of International Business Development at the Pennsylvania Department of Community & Economic Development, Peter O’Neill; Regional General Manager of the Middle East & Africa at Aetna International, Hisham Radwan; Deputy Secretary and COO at the Wisconsin Economic Development Corporation, Ryan Murray; Country Manager at Pfizer and Chairman of the ABC Health Sector Task Force, Zeydan Abuissa; U.S. Consul General in Dubai, The Honorable Robert Waller; U.S. Ambassador to the U.A.E., The Honorable Michael Corbin; Managing Director, Export Office at the Michigan Economic Development Corporation, Deanna Richeson; ABC President and Chadbourne & Parke International Partner, Ramsey Jurdi; host of the U.S. International Pavilion at Arab Health 2014 and CEO of Kallman Worldwide Inc., Tom Kallman; and President of the U.S.-U.A.E. Business Council, Danny Sebright.
15
A B C H ighl ig h ts
U.S. Secretary of Commerce Penny Pritzker Meets ABC Members March 10, 2014
T
he American Business Council
and politically. Total exports from
The luncheon featured keynote
of Dubai & the Northern
the U.S. to the U.A.E. reached
speaker H.E. Reem Al Hashimy who
Emirates, Dubai Chamber,
a record-high of $24.6 billion in
is also a decreed member of the
U.S. Chamber of Commerce,
2013, making the U.A.E. the largest
Expo 2020 Preparatory Committee,
Business
trading partner regionally for the
the executive body responsible
Council co-hosted U.S. Secretary
U.S. Additionally, the U.A.E. was
for the U.A.E.’s international bid
of Commerce Penny Pritzker at a
the 17th largest export destination
to host Expo 2020. Ramsey Jurdi,
luncheon in her honor on March 10.
for U.S. goods worldwide in 2013.
President of the American Business
Her Excellency Reem Al Hashimy,
American businesses continue to
Council and Chadbourne & Parke
U.A.E. Minister of State delivered a
capitalize on this momentum, while
International Partner stated, “Expo
keynote address that focused on
also
U.A.E.’s
2020 will showcase Dubai and the
Expo 2020 and the opportunities
economy. In Secretary Pritzker’s
U.A.E. in a way that will further
it will create. Among the 200 plus
initial press release announcing the
solidify Dubai’s reputation as an
guests, the luncheon welcomed
names of the 21 U.S. companies
infrastructure,
senior business executives, U.S. and
joining
and logistics hub. The American
U.A.E. government officials, and
states, “As the country’s Chief
business
local
Commercial
key
and primed to strengthen their
and
the
U.S.-U.A.E.
representatives.
strengthening
her
trade
the
mission
Advocate,
financial,
community
is
tourism, excited
part of my job is to promote trade
investments in Dubai and help
Secretary Pritzker was in the region
and investment and connect U.S.
deliver this event to the world.
leading a week long Infrastructure
businesses with potential customers
Secretary
Trade Mission to the Middle East
across the globe. The fact is that 95
Middle East further motivates U.S.
along with a high-level delegation
percent of customers worldwide
businesses to focus on this region
of diverse U.S. firms. This was the
live outside U.S. borders, and that is
and the opportunities that Expo
first visit of a sitting Secretary of
why promoting exports is essential
2020 will bring.”
Commerce with an accompanying
to our economic growth and job
trade mission to the region in fifteen
creation. The three countries we
President of the U.S.-U.A.E. Business
years.
are visiting on our trade mission to
Council, Danny Sebright stated,
The
mission
highlighted
Pritzker’s
visit
to
the
U.S.
the Gulf Region are among the top
“Trade is a key pillar supporting
businesses in three leading industry
50 export markets for the United
a strong, multi-dimensional, and
sectors with an emphasis on project
States. Since the launch of the
growing
management
National Export Initiative in 2010,
between the U.S. and U.A.E. The
export
opportunities
and
for
engineering,
bilateral
relationship
grid
exports have increased 111% to
U.A.E. is a critical hub through
and
the United Arab Emirates, 65% to
which the U.S. connects to key
environmental technologies. Given
Saudi Arabia, and 57% to Qatar.
markets in the broader Middle East,
the close relationship between the
Clearly, the Gulf region is a critical
Africa, and Asia.”
U.S. and the U.A.E., reinforcing the
area of focus for our nation and its
bond between the two countries
businesses.”
renewable and
energy,
energy
smart
efficiency,
is a priority, both economically
Co-hosted by The American Business Council o f
16
a
she
D u b a i & t h e N o r t h e r n E m i r at e s CHAPTER, U.S. CHAMBER OF COMMERCE
A B C H ighl ig h ts
David Chavern, Executive Vice President and Chief Operating Officer of the U.S. Chamber of Commerce; Ramsey Jurdi, President of the American Business Council and Chadbourne & Parke International Partner; H.E. Reem Al Hashimy, U.A.E. Minister of State; and Penny Pritzker, U.S. Secretary of Commerce.
17
A B C H ighl ig h ts
Farewell to Bob Bannerman March 18, 2014
goodbye au-revoir
ma’a as-salaama toodle-oo bye-bye cheers s a y o n a r a adios adieu
arrivederci thank you
ciao farewell best
O
regards
so long
cheerio aloha
auf-wiedersehen
n March 18th the ABC staff and members came together to honor the years of service that Robert Bannerman has dedicated to the United States Government. Bob will be leaving his post as the Principal Commercial Officer at the U.S. Consulate General in Dubai to build his dream house in North Carolina and partake in
some very well deserved fishing and rest and relaxation. Previously, Bob served as the Deputy Senior Commercial Officer in Rome, Italy; the Principal Commercial Officer in Ho Chi Minh City, Vietnam; and as Commercial AttachĂŠ in Manila, Philippines and Beijing, China.
Thank you Bob! You will be missed but your work will always be remembered! The ABC will forever be grateful for your contributions to the organization!
18
A B C H ighl ig h ts
Maryland Delegation Forum & Dinner April 23, 2014
T
he ABC in conjunction with the University of
Ramsey Jurdi, President of the American Business
Sharjah hosted an evening forum and dinner
Council and Chadbourne & Parke International Partner
at the Al Murooj Rotana Dubai in honor of a
stated, “Expo 2020 will showcase Dubai and the U.A.E.
delegation from the State of Maryland visiting
in a way that will further solidify Dubai’s reputation as an
Dubai. The delegation included John McDonough,
infrastructure, financial, tourism, and logistics hub. The
Maryland Secretary of State and Khalil Zaied, Baltimore
American business community is excited and primed to
City Deputy Chief of Operations.
strengthen their investments in Dubai and help deliver this event to the world. The State of Maryland’s Delegation visit
The delegation was visiting the U.A.E. on a mission from
to the U.A.E. further motivates U.S. businesses to focus on
Maryland to expand their economies in the region for
this region and the opportunities that Expo 2020 will bring.”
Expo 2020. Industries represented in the delegation include investment, academic and research institutions,
Other key guests included: The Honorable Michael
expansions services, construction equipment and parts,
Corbin, U.S. Ambassador to the U.A.E.; Nasir Abbasi,
and telecommunications equipment. Welcome remarks
Principal Commercial Officer at the U.S. Consulate
were given by The Honorable Robert Waller, U.S. Consul
General for Dubai; Dr. Hamdi Saleh, former Egyptian
General in Dubai. The forum highlighted the many
Ambassador and current Director of the International
opportunities that Expo 2020 will bring and how American
Relations Program at the University of Sharjah College of
businesses will be able to capitalize on this momentum,
Arts, Humanities and Social Sciences; Ahmed Al Banna,
while also strengthening the U.A.E.’s economy.
former Labour Ministry Assistant Under-Secretary; Anne Jafery, Managing Partner at June; and Tariq Nizami, founder and CEO of the CEO Club U.A.E.
Country Spotlight Series: Saudi Arabia April 29, 2014
S
potlight on Saudi Arabia was the third in a series of Country Spotlight events aimed at maximizing Dubai’s potential as a regional business hub. Spotlight on Saudi Arabia provided companies and individuals with the knowledge and contacts necessary to do business in Saudi Arabia, which is the largest market in the GCC. Discussions included the opportunities Saudi Arabia has offered, how to export to Saudi Arabia, how to establish a presence in Saudi Arabia, and what are the legal, tax and practical considerations. Keynote Speaker, James Phipps shared insights based on his 20 years of work with Saudi Arabia and the region. Mr. Phipps lives in Riyadh and is the Principal Advisor to His Royal Highness Prince Abdullah bin Mosaad bin Abdulaziz Al Saud. A major highlight of the conference was the panel of experts discussion including:
Nasir Abbasi - Principal Commercial Officer in Dubai at the Consulate General of the United States of America & Formerly the Principal Commercial Officer in Dhahran, Saudi Arabia Mohammed Al-Ghamdi - Partner, Mohammed Al-Ghamdi Law firm in Association with Fulbright & Jaworski LLP, Riyadh John C. Boehm - Partner, Fulbright & Jaworski LLP, Dubai. Tax Speakers: Abdulkhamid Muminov - Tax Partner, PricewaterhouseCoopers, Saudi Arabia Ebrahim Baeshen - Managing Partner, KPMG, Jeddah Offices Nauman Ahmed - Middle East Tax Leader, Deloitte, Saudi Arabia Labor Speaker: Paul Lockyer - Senior Associate, Mohammed Al-Ghamdi Law firm in Association with Fulbright & Jaworski LLP, Riyadh Banking Speaker: Marcel Luckman - Assistant Vice President, Riyad Bank
“Country Spotlight events aim at maximizing Dubai’s potential as a regional business hub.” 19
A B C H ighl ig h ts
The 23rd Annual American Business Council Golf Tournament April 3, 2014
L
ast Thursday more than 100 ABC members and friends gathered for the 23rd Annual Golf Tournament at The Montgomerie. The day kicked off at 1:30 pm with a shotgun start in the Texas Scramble style tournament and ended with a BBQ dinner and fabulous door prizes. All players played an excellent game!
Results
1st Place - Fulbright & Jaworski Putting Pirates 2nd Place - DynCorp 3rd Place - Kellogg’s Nearest to the Pin - Alex Munro Longest Drive - David Anderson
A special thanks to Subway for providing lunch, Abella for providing the shawarma station, PepsiCo for providing the refreshments, and Yalda Trading for providing the fresh fruit.
Presented by
Sponsors
Strategic Partner
20
A B C H ighl ig h ts
21
A B C H ighl ig h ts
ABC & DIFC Co-host Atlanta Federal Reserve Reception May 11, 2014
T
he ABC in conjunction with the Dubai International
reduced. They may have to make policy and business
Financial Centre hosted a morning reception for
adjustments. This was the situation earlier this year, but
Dennis Lockhart, President and CEO of the Federal
since then conditions in most affected countries have
Reserve Bank of Atlanta. Mr. Lockhart discussed
stabilized or at least calmed.” Mr. Lockhart continued
the outlook for the U.S. economy and monetary policy
with his positive outlook; “I believe it is in the world’s
along with how developments in global markets
interest that the U.S. economy strengthens and that
influence his views as a policymaker.
the Federal Reserve pursues policies appropriate for, and supportive of, improving conditions. Also, with my
Jeff Singer, CEO of the DIFC gave opening remarks and
expectation that the United States will experience better
introduced Mr. Lockhart. Mr. Lockhart discussed in detail
economic growth over the medium term, I believe the
the intricacies of America’s effect on global monetary
outlook for emerging economies is also improved.”
policy; “The world watches U.S. monetary policy closely, and global capital flows are influenced by expectations
Other key guests included: The Honorable Robert Waller,
of Federal Reserve policy. Recent turbulence in certain
U.S. Consul General in Dubai and Ramsey Jurdi, President
emerging markets led to substantial controversy over
of the American Business Council and Chadbourne &
the effect of U.S. policy on the rest of the world. I’ll give
Parke International Partner.
you my perspective as one U.S. policymaker. Changes in U.S. financial conditions do affect interest rates and
The event was covered by Al Bayan, Bloomberg, CNBC,
asset prices in other countries through various channels.
CNN, Dow Jones, Gulf News, and Thomson Reuters.
U.S. central-bank policy influences capital flows and their effects, in turn, on the foreign exchange rate,
To read the entirety of Mr. Lockhart’s speech, please
equity markets and debt markets, both external and
follow
domestic. As a result, some emerging economies may
speeches/140511_speech_lockhart.cfm.
this
link:
http://www.frbatlanta.org/news/
face pressures when U.S. monetary accommodation is
The Honorable Robert Waller, U.S. Consul General in Dubai; Jeff Singer, CEO of the DIFC; Dennis Lockhart, President and CEO of the Federal Reserve Bank of Atlanta; and Ramsey Jurdi, President of the American Business Council and Chadbourne & Parke International Partner.
22
A B C H ighl ig h ts
Governor of Massachusetts, Deval Patrick Morning Reception June 4, 2014
T
he ABC hosted a morning reception honoring the Governor of Massachusetts, Deval Patrick and his delegation. Governor Patrick led a coalition of government and industry leaders on an innovation mission to the United Arab Emirates to expand opportunities between the Commonwealth of Massachusetts and the U.A.E. for economic development and job creation in the innovation economy sectors. The purpose of the mission is to strengthen
relationships with key global centers of growth and foster new partnerships in the U.A.E. Governor Patrick’s delegation included representatives from: Adage Capital Management MassChallenge Grantham, Mayo, Van Otterloo & Co Massachusetts Competitive Partnership SolarOne Solutions Mintz Levin Cambridge Innovation Center Nano Terra Inc Foundation Medical Partners FastCAP Systems Corporation
Nasir Abbasi, Principal Commercial Officer at the U.S. Consulate General for Dubai; The Honorable Robert Waller, U.S. Consul General in Dubai; Governor of Massachusetts, Deval Patrick; Ramsey Jurdi, President of the American Business Council and Chadbourne & Parke International Partner; and Senator William Cowan, Senior Vice President and Chief Operating Officer of ML Strategies and Of Counsel to Mintz Levin.
23
A B C H ighl ig h ts
Spotlight Series: Africa September 15, 2014
O
n September 15 the ABC and the U.S.
chosen the U.A.E. as
Department of Commerce – International
their hub. American
Trade Administration (ITA) co-hosted the fourth
businesses
in a series of Spotlight events aimed at maximizing Dubai’s
continue to pick
potential as a regional trade hub: Spotlight on Africa.
the U.A.E. because of exactly the same
The seminar highlighted the importance of maximizing
factors that Davos considers, such
those unique opportunities given to companies operating
as infrastructure, macroeconomic
in Dubai and using Dubai as a business gateway to the
stability, and a capable workforce.
region, which serves as the inspiration for the Spotlight
U.S.-U.A.E. bilateral trade outpaces
series. The conference featured a panel of experts who
that of much bigger economies,
discussed the business climate, logistical, legal, financial,
such as Saudi Arabia and India,
security and safety aspects of doing business in the Sub-
precisely because of the competitive
Saharan and eastern regions of Africa. The presenters
stable
included: Zeydan Abuissa, Country Manager at Pfizer;
U.A.E. remains extremely well positioned for American
Ludwika Alvarez, International Trade Specialist at ITA; Zaki
businesses, and in particular doing business in Africa.”
economic
environment
in
and
the
U.A.E. The
Khoury, Regional Manager of International Organizations, Middle East & Africa at Microsoft; Donald Nay, Regional
Deputy
Senior Commercial Officer at ITA; *John Podgore, Partner
Corporation, Mohammad Ali Lootah, who addressed the
at Dechert LLP; and Robert Telchin, Senior International
attendees, stated: “I think the event is a good opportunity
Trade Specialist at ITA.
to highlight the opportunities for American companies in
CEO
of
the
Dubai
Export
Development
Africa. There are many promising figures here today, and Ramsey Jurdi, President of the American Business Council
the approach that ABC and American businesses are
and Chadbourne & Parke International Partner stated:
taking is good to encourage companies to do business
“The U.A.E. offers American businesses a fantastic
with Africa. There will definitely be obstacles in Africa
platform to expand in Africa. Given the recent upgrade
because it’s an emerging market, but I believe American
in the competitiveness ranking of the U.A.E. in the World
businesses can utilize the services of the U.A.E. and Dubai
Economic Forum Global Competitiveness Report from 19
government to better penetrate the region.”
to 12 is no surprise to me or that American businesses have Additionally, as part of the seminar, participants were able to book one-on-one meetings with the speakers on the following day. Jim Cramer, Office of the Middle East and North Africa, Global Markets at ITA stated, “This certainly takes the seminar to the next level. By hosting personal meetings participants were able to focus on identifying specific challenges facing their particular sectors and harnessing potential synergies going forward.”
Deputy CEO of the Dubai Export Development Corporation, Mohammad Ali Lootah, addresses the attendees.
24
*You can find John Podgore’s presentation article on the following pages.
FEATURE/ Africa
A B C H ighl ig h ts
Law Africanus
Africa teems with exciting prospects for those seeking to venture into this evolving global business hub. John Podgore and Tom Renwick of Dechert on lessons learned operating in the continent from Dubai. Dubai in particular) as a hub. According to the Dubai Chamber of Commerce and Industry (the “Dubai Chamber”), Dubai’s non-oil trade with Africa increased by 141 per cent from AED37.9bn to AED91.3bn between 2008 and 2013. The Dubai Chamber recently opened its first ‘foreign’ office in Ethiopia, and it plans to open another in Ghana this year. Additional offices are envisioned for Mozambique, South Africa, Kenya, Uganda and Angola to further strengthen the business links between Dubai and Africa. The rise of Dubai as a hub for African business is nothing short of astounding.
“Africa represents our fastest-growing region in the world. If you want to be relevant, you need to be in this part of the world.” – Dominic Barton, global managing director of McKinsey & Company
C
ultural and commercial links between the Middle East and Africa have existed from time immemorial and have always been strong. The Arabic-speaking North African countries aside, Arabic place names down the East Coast of Africa evoke a prior golden age of Arab trade, and the great mosques and universities of West Africa – well known to the great 15th century diplomat/adventurer/geographer Leo Africanus – all bear testament to the spread of Islamic culture across the continent. Today, these links are being rapidly reinforced by modern businesses using the Arabian Gulf (and 32
ExCiting OppOrtunitiEs At the macro level, Africa presents some of the most exciting opportunities for investment in the world today. Private equity investment in Sub-Saharan Africa reached a five year high of USD1.6bn in 2013, according to the Emerging Markets Private Equity Association, and the World Bank forecasts an increase in economic growth in Sub-Saharan Africa from 4.7 per cent in 2013 to 5.2 per cent in 2014. Expanding middle classes hungry for consumer goods, healthcare and technology, countries eager to improve outdated infrastructure, as well as the traditional trade in Africa’s natural resources are all combining to propel Africa into the top rankings for growth. As a result, African countries now occupy no fewer than 10 of the top 25 slots for countries ranked by economic growth in 2013 by the CIA’s World Factbook, with seven of the 10 fastest growing economies in the world being African. Dubai has without doubt become a major hub driving this growth, particularly in respect of “Equatorial Africa”, by which term we refer to the central swathe of African countries excluding a) North Africa/Greater Maghreb (with its traditional European links) and b) the “Southern Cone” of Africa (essentially the Republic of South Africa and the countries adjacent to it, with its natural hub in Johannesburg). Interestingly, there is no natural hub for business within Equatorial Africa – and for a number of reasons companies doing business in that region (whether or not from the region) have increasingly turned towards Dubai as a base. These companies benefit from Dubai’s gateway geographical location, world-class logistics and infrastructure, business-friendly environment, the presence of major offices for regional and international banks and professional firms (lawyers, consultants, tax advisors, etc.), straight forward visa registration, stable currency and the ability to offer business travellers
Issue 32 • JULY/AUGUST 2014
25
Africa
A B C H ighl ig h ts or residents (and their families) a mix of comfort, security and entertainment not available in parts of Equatorial Africa. Dubai’s free zones offer easy set-up, 100% foreign ownership and a favourable tax regime, whilst Dubai’s airline, Emirates, offers routes to 25 destinations in Africa, with plans for further expansion in the future. Investors looking to buy into Africa are setting up alongside African companies present in Dubai looking to do business with the rest of the world. Dubai now finds itself sitting comfortably astride the flow of investment into the continent. Arif Naqvi of Dubai’s Abraaj private equity group, which has approximately USD7.5bn in assets under management in Africa, says the continent represents “…an extremely exciting and compelling investment opportunity…”. Top-tier Dubai-based conglomerates, the Al Futtaim Group and Majid Al Futtaim both plan to enter or expand in Equatorial Africa, with other Arabian Gulf-based, family-owned investment vehicles and international private equity houses set to follow suit. Dubai’s port operator, DP World, has operations in five African countries, representing both investment into the continent and dedication to improving logistics links between Africa and the Arabian Gulf (to facilitate, amongst other things, the flow of food from African agribusiness to Arabian Gulf consumers). Dubai’s banks, too, are focusing on Africa, with banking revenues for African business for some banks quadrupling in the space of five years, across conventional and Islamic banking. Chinese banks are setting up in the Dubai International Financial Centre with an eye on Africa as well, and Bank of China has positioned a dedicated Africa team in Dubai to service the business of Chinese companies investing in Africa’s resources, infrastructure and consumer market. WOrds Of AdviCE From our own experience of operating in Equatorial Africa from Dubai, we offer the benefit of some lessons learned: » Do make sure that you are prepared to travel to the region – a credible Equatorial Africa practice comes from the capability and willingness to deploy resources at a moment’s notice. This means, amongst other things, being up-to-date on vaccinations and being able to prove it, so as not to be faced with the choice upon arrival at an airport in Equatorial Africa of (a) paying USD25 for a yellow fever jab (which doesn’t provide protection from the disease until several days after vaccination) and for the World Health Organisation “yellow certificate” that accompanies it or (b) paying USD15 for a bogus yellow certificate without the jab… » Don’t expect deals to run smoothly – expect the unexpected and be prepared for protracted dealings with governmental bodies and regulators which may be genuinely keen on foreign investment
but vexingly inexperienced at facilitating it. A transactional lawyer with real Equatorial Africa credentials will have spent many a day “camped out” in the reception areas of various government ministries; it’s how the game is played. » Don’t assume what has worked in one jurisdiction will be accepted in the neighbouring jurisdiction. Unlike the Arabian Gulf, where ‘cross-pollination’ in respect of legal practice is the norm (largely the result of the same lawyers covering multiple Arabian Gulf jurisdictions, coupled with the legacy of Egyptian jurist Abdel Razzaq Al-Sanhouri – and, for example, making major transactions in Qatar very similar to major transactions in Kuwait) – legal practice in the various jurisdictions comprising Equatorial Africa has developed very independently. Be prepared for very different approaches to transactions across the various jurisdictions, even from one civil law jurisdiction to the neighbouring civil law jurisdiction – and between neighbouring common law jurisdictions. » Don’t fall foul of extra jurisdictional anti-corruption legislation. The use of payments to facilitate business is not always viewed as dimly in parts of Equatorial Africa as it is in other jurisdictions; be mindful of the restrictions that apply to you, your company and your client, and be prepared to explain them to others, including to those who might request such payments. » On a related note, do not be surprised if a due diligence question to a seller concerning payments to government officials is met with a “Yes, of course we make payments to officials!”. » Do choose local legal advisers very carefully. Many truly great, and truly local, law firms are found in Equatorial Africa, but the standard of local legal advice is not uniform across the region or even across the various offices of firms present in multiple jurisdictions within Equatorial Africa. Having international legal counsel with Equatorial Africa credentials, and existing local counsel relationships, at your side helps to navigate through a potential minefield of local law and legal practice.
1
2
Text by: 1. John Podgore, partner, Dechert LLP 2. Tom renwick, associate, Dechert LLP theoath-me.com • the Oath
26
33
A B C H ighl ig h ts
Knowledge Exchange: Foreign Corrupt Practices Act September 24, 2014
O
n September 24 John Lonsberg and Stephen Matthews both Partners at Baker Botts examined the latest on the Foreign Corrupt Practices Act (FPCA). The experts discussed the complexities of the FCPA and emphasized recent trends in FCPA enforcement including the use of monitors and deferred prosecution. The objective was to show the risks in the FCPA arena as well as the high cost of defending actions
under the FCPA to encourage corporate clients to utilize compliance programs.
“Historically, U.S. business felt that the U.S. FCPA put it at a disadvantage in the global marketplace. The current reality is that anti-corruption enforcement on both a domestic and international basis has become a major focus of governments across the world, including in the Middle East. In view of this development and the current enforcement strategies being employed by the U.S. Department of Justice and the Securities Exchange Commission, it is fundamental for persons operating in high risk environments that they have a strong working knowledge of the application of both U.S. and other applicable anti-bribery regimes.“ -John Lonsberg
27
A B C H ighl ig h ts
Emirati Alumni of U.S. Universities - Renewing the Connection September 30, 2014
“Education
T
his annual event highlighted
Americans through travel, tourism,
the strong bonds that exist
and study at colleges and universities
between the U.A.E. and the
across the United States.”
U.S. and stressed the role that higher
is the most important thing in any civilization,
education
bringing
The impressive turnout of distinguished
communities closer together. Since
can
play
in
guests included a host of senior level
2009, the number of Emirati’s studying
Emiratis
in the U.S. has increased by 40%. From
National alumni from U.S. universities,
2012 to 2013 there was an increase of
and representatives from American
2,256 Emirati students studying in the
University in Dubai, EducationUSA,
U.S., roughly 7.6%. With this number
and NYU Abu Dhabi. The ABC was able to hold this
and U.A.E. and will be reflected in
complimentary
American business and bilateral trade
National alumni and ABC members
between the two countries.
thanks to the gracious support of the
His Excellency Hisham Al Shirawi, Vice Chairman of Dubai Chamber of Commerce & Industry presented keynote
importance Excellency
address of
stressing
the
education.
His
received
an
MBA
in
and BS in Electrical Engineering from University of Southern California. At
no sustainable
the
reception,
highlighted
the
His
Excellency
importance
of
education: “Education is the most important thing in any civilization,
civilization,
without education there would be no sustainable civilization, no sustainable growth, no sustainable development.” He continued to elaborate specifically
no sustainable
on the impact of attending university in the U.S. had on him: “…the impact of those years I spent in the States are
growth, no
irreversible they are carved into my memory, my personality.” The Honorable Robert Waller, U.S.
sustainable
Consul General in Dubai, noted, “Our strategic partnership is made more resilient by the number of Emiratis who have come to know America and
development.” 28
event
for
U.A.E.
American Hospital Dubai and Carian
Finance from California State College
there would be
executives,
the relationship between the U.S.
a
education
business
increasing every year, it solidifies
The honored guest of the evening,
without
and
College
Advisors.
A B C H ighl ig h ts
29
A B C H ighl ig h ts
The 3rd Annual American Business Forum, I.D.E.A.S. October 28, 2014
between the two countries is a priority,
I. D. E. A .S.
both economically and politically. The U.A.E. was the 17th largest export destination for U.S. goods worldwide, and the bilateral trade balance stands
I dentif y D efine E xecute A nalyze S trengthen
at $22.30 billion as of 2013, making the U.A.E. the largest trading partner
American Business Forum
T
regionally with the U.S. American businesses continue to capitalize on
he
ABC
brought
together
Director, Government Affairs & Policy,
business leaders from the U.S.
at General Electric; Paul L. Smith,
and the U.A.E. to participate
Corporate Vice President, MEA at
in the third annual American Business
Emerson;
Forum, I.D.E.A.S. (I.D.E.A.S.), designed
President & Managing Director of
to Identify Define Execute Analyze
General Motors Middle East Operations.
and
Strengthen
regional
and
Maurice
Williams,
business
opportunities, on Tuesday, October
During the keynote address presented
28, 2014.
by Nenad Pacek, Co-founder of CEEMEA Business Group, Mr. Pacek
I.D.E.A.S.
challenged
to
examined the future of business in
think critically about the American
the Middle East and Africa region,
competitive advantage in the Middle
and what companies need to do to
East and how to leverage the U.S.-U.A.E.
outperform competition in the coming
bilateral trade relationship. Business
years. He also provided an economic,
leaders were able to capture these
business, and political outlook per
insights to aid their own organizations
market
and harness potential synergies going
Pacek briefly talked about the global
forward.
Antonio
business and economic environment
Carvalho, Partner at Oliver Wyman,
and how this might impact business
the
dialogue
operations in this region. Furthermore,
covered a range of topics including:
he highlighted which issues regional
utilizing Dubai as a hub; planning
directors are struggling with at the
for
moment
Moderated
executive
regional
leaders
by
panelists’
security
and
health
for
the
and
whole
offered
area.
some
Mr.
best
concerns; preparing for EXPO 2020;
practices for how to handle those
and examining diversity and inclusion.
challenges.
The panel cited many factors that contributed to their accomplishments,
I.D.E.A.S. sought answers to critical
such as how the U.A.E. has employed
business issues in support of the
farsighted leadership that is open to
ongoing Economic Policy Dialogue
working with international companies
(EPD) between the U.S. and the U.A.E.,
and is committed to infrastructure
which served as the inspiration for
and the best technology, evidenced
the forum. Since March 2012, the
through its Smart City vision and
EPD has served as a government to
commitment to the space program.
government umbrella for new and
The
ongoing initiatives that are aimed at
distinguished
Jeffrey
30
L.
panel
Johnson,
included: of
deepening economic and commercial
Boeing Middle East; Nenad Pacek,
ties between the U.A.E. and U.S. Given
Co-founder
Business
the close relationship between the U.S.
Group; Timothy J. Richards, Managing
and the U.A.E., reinforcing the bond
of
President
CEEMEA
this momentum while continuing to strengthen Dubai’s economy. Ramsey Jurdi,
President
of
the
American
Business Council and International Partner
at
Chadbourne
&
Parke
stated: “With the recent upgrade in the competitiveness ranking of the U.A.E. in the World Economic Forum Global
Competitiveness
Report
from 19 to 12, it is no surprise that American businesses have chosen the U.A.E. as their hub. American businesses
continue
to
pick
the
U.A.E. because of exactly the same factors that Davos considers, such as
infrastructure,
macroeconomic
stability, and a capable workforce. U.S.-U.A.E. bilateral trade outpaces that of much bigger economies in the region, precisely because of the competitive and stable economic environment in the U.A.E. The U.A.E. remains extremely well positioned for American
businesses.”
A B C H ighl ig h ts
Nenad Pacek, Co-founder of CEEMEA Business Group; Timothy J. Richards, Managing Director, Government Affairs & Policy, at General Electric; Jeffrey L. Johnson, President of Boeing Middle East; Ramsey Jurdi, President of the American Business Council and International Partner at Chadbourne & Parke; Paul L. Smith, Corporate Vice President, MEA at Emerson; Antonio Carvalho, Partner at Oliver Wyman; and Maurice 31 Williams, President & Managing Director of General Motors Middle East Operations.
A B C H ighl ig h ts
American Citizen Services Day & General Meeting October 15, 2014
ABC welcomed members and friends to American Citizen Services Day. Guests were able to meet and greet the U.S. Consul General in Dubai, The Honorable Robert Waller and his team to learn what they do at the Consulate for American citizens. The Consulate provided specific services for including passport renewals for drop off, additional visa pages for drop off, notaries, authentications, social Security Number applications, and voting materials. Additionally, as a part of the program, Dr. Houriya Kazim briefed guests on breast health and care in the U.A.E. as a part of Breast Cancer Awareness Month. Dr. Houriya Kazim attended medical school at the Royal College of Surgeons in Ireland, obtained her fellowship in General Surgery, then sub-specialized in Surgical Oncology and, in particular, Breast Surgery and reconstruction at the Royal Marsden Hospital in London and the MD Anderson Cancer Centre in Houston, Texas. Dr. Kazim is a U.A.E. national and the country’s first female surgeon. She is the Medical Director and founder of the Well Woman Clinic. Additionally, she founded and runs the only breast cancer support group in the city called “Brest Friends” as well as a breast cancer charity, also known as, “Brest Friends.”
Community Partners
32
A B C H ighl ig h ts
ABC Co-hosts Sharjah-U.S. Roundtable with Shurooq November 16, 2014
C
ontinuing its commitment to promoting Sharjah
The welcome notes were followed by a presentation on
as a world-class destination for international
investment and tourism projects by Shurooq CEO Marwan
investment, Development
the
Sharjah
Authority
Investment
and
Al Sarkal, which gave an overview of the four key sectors
(Shurooq)
held
identified by Shurooq as major areas of potential growth,
a Sharjah-U.S. Business Roundtable, which was in
namely travel and tourism, environment, healthcare,
collaboration with the American Business Council of
and transport and logistics. The presentation also
Dubai & the Northern Emirates at the Sharjah Chamber of
highlighted a number of projects the groundbreaking
Commerce and Industry on November 16, 2014.
tourism projects being undertaken by the Authority, including: Al Jabal Resort – The Chedi Khorfakkan, Sir
The Roundtable formed the most recent of a number
Bu Nair Island, Mlieha Eco-tourism project, the Heart
of initiatives and events by Shurooq to encourage
of Sharjah, Al Bait Hotel, Al Majaz Waterfront, the Flag
investment from the U.S. Speaking during her opening
Island, the Kalba Eco-tourism project, Al Montazah
address, Sheikha Bodour bint Sultan Al Qasimi reaffirmed
Amusement and Water Park, and Al Hisn Island – Dibba
the strong ties that exist between Sharjah and the U.S.
Al Hisn. Al Sarkal emphasised that through these projects
“Sharjah and the U.S. are no strangers. We have a long
Shurooq aims to stimulate the local economy, while also
and successful shared business history that has brought
providing foreign investors with unique opportunities to
benefit and progress to both our countries. Our emirate
leverage on the exceptional development that Sharjah’s
is growing, and I am very pleased that the American
tourism and leisure sector is currently experiencing.
business communities have been and continue to be very important partners in this growth.”
Ramsey Jurdi, President of the American Business Council and Chadbourne & Parke International Partner commended the efforts of Shurooq in promoting Sharjah within
the
American
business
community,
stating,
“Shurooq has done a remarkable job in building the U.S. – U.A.E. relationship. There are very few organizations operating in the U.A.E. that are as active, as ambitious, or as successful in their investment activities as is clearly evident from the numerous events such as this one today and the high level of interest in Sharjah that the Authority has created within the American business community.”
Knowledge Exchange: Real Estate in the U.A.E. - the Amazing Decade November 19, 2014
S
hahram Safai, Partner at Afridi & Angell, who is a leading authority on property law in the U.A.E., will surveyed the introduction and development of the freehold market in real estate in the U.A.E., focusing on Dubai which has experienced phenomenal growth in the past decade. Participants walked away withe answers to: is
foreign ownership of real estate the same as that of U.A.E. nationals? Where are real estate prices headed – up or down? What about rent? How much power do landlords have over tenants? What are the laws regarding off-plan purchases?
33
Com m u nit y Ce l e br at ions
Christmas in the Desert December 14, 2013
M
ore than 150 ABC members and their families gathered in the desert for the annual ABC Christmas celebration. The desert camp served as our own winter wonderland, complete with a Christmas tree garden, Christmas shops, Santa Claus, Christmas activities for the kids, carolling during the Christmas tree lighting ceremony, and a delicious Christmas meal that was catered by, the famous, Abela.
34
Comm unit y Celebr ation s
35
Com m u nit y Ce l e br at ions
Independence & Memorial Day Celebration May 30, 2014
T
he ABC celebrated the 4th of July early this year. More than 500 members, family, and guests gathered for fun with our traditional events including: fireworks, a BBQ dinner, DJ & dancing, and fun Olympic games. Turn the page to check out all the pictures!
Presented by
Red Sponsors
Blue Sponsors
Strategic Partner
Grand Prize Sponsors
Media Sponsors
Support Sponsors
36
Comm unit y Celebr ation s
37
37
30 Keep
watch to see what
ABC
has in store for you as we turn
30
in
2015.
M a r c h 6, 2015 J o i n u s a t t h e ABC G a l a a s w e C e l e b r a t e 30 y e a r s o f s u cc e s s !
The American Business Council o f
D u b a i
&
t h e
N o r t h e r n
E m i r at e s
Chapter, U.S. Chamber of Commerce
PO Box 74648, Dubai, U.A.E. Tel: +971 4 379 1414 • Fax: +971 4 379 1515 www.abcdubai.com • info@abcdubai.com