DENMARK - 2017

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Denmark S p e c i a l r e p o rt

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W e d n e s day, J u n e 7, 2017

A roaring Nordic economy With a welfare oriented economic canvas, Denmark has new heights to scale as it grows

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♦♦ Ishtiaq Ali Mehkri

enmark has one of the most upbeat economies in the European Union, and despite the downslide it has worked wonders. Fuelled by a strong household consumption, growth rate is projected at 1.9 per cent. Investments and soaring exports are buoying the economy, as the Scandinavian state picks up on the premise of low interest rates and an increasing capacity

utilisation. Higher real wages and rising property prices are other index indicators, which predict bullish trends in the bourses for a nation of six million people. Copenhagen is obsessed with reforms meant to address structural changes as the country goes from one high to another. Agriculture, services sector and manufacturing are the three salient pillars of its economy. The World Bank says Denmark has a per capita income of around $59,000, which is one of the most prosperous among its contemporaries. Similarly, with a GDP of $295 billion in 2016, the country is the 39th largest economy in the world. Its macroeconomic indicators are also quite promising, and with the demand surging in the manufacturing and construction sectors, Denmark is likely to have a stable growth in years to come.

Denmark’s trump cards are a secure legal environment for investment and businesses, coupled with banking regulations and an enterprising entrepreneurship. Banks are doing very good, and the lending policy is one of stringent regulation and business-friendly. This has acted as a catalyst in government taking the lion’s share in investment and public spending, ultimately raising the index of human development in the public sector. The private sector too takes a cue from monetary stability and is eager to pump in money in infrastructure and export-related businesses. Denmark is one of the unique economies in the world whose value of exports and imports taken together equals 100 per cent of GDP. Trade, thus, remains the country’s lifeline, and its strategic geography makes it more invincible. The government’s profoundness to foreign trade

and investment is no secret, an aspect that has helped it excel even during the recessionary days of Europe. This is why Forbes has listed it as the 6th Best country for business. Denmark is a welfare state and enjoys a very high standard of living, which is a testimony of equitable distribution of wealth and an all-found attitude of the state towards its citizens. The country’s obsession for trade liberalisation and its resolve to uphold sovereignty despite being part and parcel of the 28-member union ups its nationalistic credentials. The Nordic state is an emerging middle order power in Europe and what makes it indispensable are its inherent economic potentials and an overtly influencing foreign policy. — mehkri@khaleejtimes.com

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DENMARK

Celebrating the Danish spirit

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Denmark marks its first national day celebrations in the UAE

he first ever Denmark Day was held on May 2 this year at the Emirates Palace in Abu Dhabi. More than 300 people attended the event that jointly celebrated the Queen’s birthday and Constitution Day. In the UAE, it is a tradition for embassies to host national day events. However, until this year the Danish Embassy in Abu Dhabi had never taken part. May 2 was thus a historic day. The event commenced with the UAE and Denmark national anthems followed by a speech by Danish Ambassador, Merete Juhl. In the speech, the Ambassador underlined the strong relationship between Denmark and the UAE, and spoke about happiness, women in power, trade, Danes in the UAE, NATO, and the future.

Speaking about tourism and trade as a pronounced part of Danish history, tradition and culture, Juhl quoted Danish fairytale author, H. C. Andersen, thereby underlining the fairytale atmosphere of the event. Denmark Day was in many ways a celebration of Denmark and Danish values. The event featured ballet dancers resembling Denmark’s national bird, the Little Mermaid made of Peter Beier chocolate, Danish cuisine including open-faced sandwiches (smørrebrød), frikadeller and drømmekage, along with a photo booth with the country’s landmarks as background. The event was sponsored by Danish companies ranging from Arla, Novo Nordisk, Mærsk, Grundfos, KLS, Terma and Rambøll to Jacobsen Bakery, Peter Justesen A/S, Peter Beier, DSV and Rynkeby.

Denmark Day was in many ways a celebration of Denmark and Danish values.

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KHALEEJ TIMES | SPECIAL REPORT | Wednesday, June 7, 2017

Merete Juhl, Danish Ambassador to the UAE.

Little Mermaid made of Peter Beier chocolate. www.khaleejtimes.com


DENMARK

Exilator delivers immediate value to yacht owners in different ways NOXRemoval catalyst

yer Insulation – generation of the a Component in y Noise Reduction

ExiBlock™ -Coated Ceramic Material & Oxidation Catalyst Enabling regeneration at low temperatures 325ºC (soot burning)

High-end Silencer Low Frequency Noise Reduction

Passive NOXRemoval catalyst

Superior 2-layer Insulation – Supporting Regeneration of the ExiBlock™’s & a Component in High Frequency Noise Reduction

The UAE is home to a number of sea-loving residents, where some proudly own a yacht or two to explore the calm waters of the Arabian Gulf, and spend time on board to relax, or even host dinner parties on board. However, there are few factors that may stand as an obstacle to the joy, despite spending millions on a yacht. These range from black smoke, the smell of diesel and low murmuring noise coming from the engines – which can easily ruin any trip or dinner party. Thus, Exilator, a Danish, innovative company, designed and developed a cost-effective exhaust purification system, known as the ExiLencerTM, to combat all these issues and improve the onboard experience, in addition to reducing the environmental impact caused by marine engines. Winner of the renowned Green Ship Technology Award in 2016, ExiLencerTM features a built-in silencer that reduces noise by up to 35 dB, which ensures a quieter and smoother trip, and a high-quality filter material that notably reduces soot particles by 98 per cent, carbon monoxide by 99 per cent. Additionally, it also has a unique coating that eliminates the need for pre-burners, a catalyst for nitrogen dioxide, which is reduced by up to 13 per cent. The solution is easy to install and maintain, bringing a welcome improvement to yacht owners and operators across the UAE and Middle East. The filters only require cleaning after 5,000 hours of operation, and replacement after 50,000 hours of operation, which often exceeds the lifetime of a yacht and will increase the value of the yacht, while postponing the cleaning and re-painting, making the investment worthwhile in a short period of time. Exilator also offers finance options to help vessels install the award-winning ExiLencerTM and pay in instalments of e.g. five years with a combined service contract, while reaping immediate benefits, it seems to be an easy decision to make. The conclusion is that if you want to really enjoy the yacht, reduce operational costs, and maintain the yacht value for longer, or charter out at higher rates, ExiLencerTM seems to be a very good choice.

Accolades • Winner of the prestigious Green Ship Technology Award in 2016 • Finalist at the annual Lloyd’s List Maritime Engineering 2016 competition www.khaleejtimes.com


DENMARK

Celebrating women through jewellery Pandora designs, manufactures and markets its own jewellery. It innovatively combines traditional craftsmanship with modern technology

Pandora is a brand rooted in transparency for more

than 30 years, offering authenticity and dedication. It was founded in Copenhagen, Denmark, in 1982 by Danish goldsmith Per Enevoldsen and his wife Winnie. Since then, the company has made an exceptional journey from a local Danish jeweller’s shop to one of the largest and most loved global jewellery brands. Pandora celebrates women all over the world, and inspires them to express their uniqueness. In a time of rapid expansion, Pandora built a solid global presence. In 2006, the very first Pandora concept store opened its doors. In 2008, private equity fund Axcel acquired 60 per cent of Pandora and during the following years, it acquired full ownership of the distribution in key markets. The company also increased production capacity by opening larger, fully owned crafting facilities in Gemopolis, Bangkok’s jewellery district. In celebration of the Spring/Summer 2017 collection, Pandora has launched “DO”, a new multifaceted campaign that will inspire women to be true to themselves and what they believe in. Encompassing dynamic activations across multiple platforms, the campaign features personalities such as Mamé Adjei, female entrepreneur and America’s Next Top Model contestant. Mentoring young women, pursuing humanitarian work or leading a business, the energetic women introduced in the campaign embody what DO is all about – doing what you feel is worthwhile, aided by the confidence found through a unique Pandora style. Today, Pandora inspires women in more than 100 countries on six continents, including over 11.6 million loyal Facebook followers, 3 million on Instagram and more than 9.4 million Pandora Club members. Their jewellery is available through approximately 7,900 points of sale globally, including more than 2,100 concept stores. The company employs more than 21,500 people worldwide. In 2016, Pandora’s total revenue was DKK 20.3 billion (approximately EUR 2.7 billion).

Central to Pandora’s evolution is a commitment to celebrating women through jewellery by offering affordable luxury and contemporary design, and ensuring an ethical value chain. In October 2016, Pandora inaugurated one of the greenest crafting facilities ever built. Located in Lamphun, Northern Thailand, the Leadership in Energy and Environmental Design (LEED) certified crafting facility sets the standard for the entire jewellery industry. The highly resource efficient crafting facility allows Pandora to lower its average energy consumption, greenhouse gas emissions, and water consumption per unit produced. To Pandora, every woman in the world is unique, beautiful and extraordinary. Inspiring women to embrace their individuality and express their personal style, Pandora’s stylish and feminine jewellery celebrates women for who they are. The fundamental concept behind Pandora’s inspiring jewellery universe is enabling women to express themselves through jewellery using Pandora rings, earrings, necklaces, charms and bracelets. Women can choose from a multitude of exquisite materials, colours, settings, details and finishes from Pandora’s interchangeable collections, and use online bracelet and ring designers to develop their ideal style expression. Pandora’s collections continually evolve to offer new designs and give customers frequent opportunities to update their jewellery collections with fresh, on-trend pieces. Renowned for its high-quality, hand-finished products at affordable prices, Pandora designs, manufactures and markets its own jewellery. For over 28 years, the brand has produced its jewellery in Thailand using unique processes that combine traditional craftsmanship with modern technology. The company is one of Thailand’s largest jewellery

Pandora shares style inspiration and reveals the latest jewellery trends through a multitude of social media platforms, instantly reaching a highly engaged global audience.

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KHALEEJ TIMES | SPECIAL REPORT | Wednesday, June 7, 2017

www.khaleejtimes.com


DENMARK

Hand-crafted statement pieces for the modern woman PANDORA reinforces its position in affordable silver and gold jewellery segment ♦♦ Farhana Chowdhury

manufacturers with approximately 12,400 highly skilled employees working at Pandora’s fully owned jewellery crafting facilities in Gemopolis, Bangkok, and at the new crafting facilities in Lamphun. Pandora shares style inspiration and reveals the latest jewellery trends through a multitude of social media platforms, instantly reaching a highly engaged global audience. Social responsibility The company strives to implement ethical practices into every aspect of its business, from ensuring an inspiring and developing working environment and benefits, to health and safety, environmental impact and energy management. Pandora is bound together by a shared culture. The company’s unique spirit and way of working have crystallised into a set of company values: pride, passion and performance — known collectively as Pandora Life. It provides annual training for its suppliers in issues such as safety, health, environmental management, human rights and worker rights — and uses its facilities in Thailand to showcase best practice solutions.

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Today, Pandora inspires women in more than 100 countries on six continents, including over 11.6 million loyal Facebook followers, 3 million on Instagram and more than 9.4 million Pandora Club members. Their jewellery is available through approximately 7,900 points of sale globally, including more than 2,100 concept stores.

PANDORA has been adorning women with intricate pieces of jewellery since its establishment in 1982 in Denmark, and continues to secure a loyal fan base across the globe with statement designs. The brand made its way to the UAE in early 2010, with a wide collection of exquisite jewellery — ranging from earrings, rings and pendants to bracelets and charms — that resonate with trends of the modern woman. “PANDORA today is considered one of the leading jewellery brands in the affordable segment. We have reached this milestone by consistently offering affordable jewellery to a wide range of customers, available in stores, in which we provide an honest and professional service,” says Peter Mark, President — Emerging Markets, PANDORA. PANDORA’s portfolio features bases made of sterling silver, 14k and 18k gold, leather and textile that are inlaid with gemstones such as diamonds, quartz and topaz, organic gems, including cultured pearls and amber, manmade stones and Murano glass. Speaking about its early days, Mark says that entering a region such as the Middle East was worrying, due to its established tradition of gold and diamonds. However, PANDORA’s hand-finished products, centred on sterling silver and semi-precious stones, were able to gain a presence in the market. “We were to some extent holding our breath when we opened the first two stores in Mercato and Mirdif City Centre, but thankfully our brand and products were very well received. Today, we operate more than 400 branded doors in the region and we are very confident more will follow in the years to come. It has been an absolutely amazing journey so far,” he says. Now the brand has its headquarters in Dubai that oversees operations across the Middle East, Africa, India and Russia. The Danish brand continues to invest in new production technologies, and is armed with a thousand-strong team of highly skilled craftsmen and women at its crafting facilities. “This combined with a growing understanding for fashion trends, I am confident that PANDORA, in the years to come, will continue to be the market leader in the affordable jewellery segment,” Mark adds. Bridging cultural ties between the UAE and Denmark, PANDORA too plays a role in advancing design and technology to enhance customer experience. It finds common ground with the entrepreneurial spirit in the UAE.

Shopping trends in the UAE “For years, the UAE has been a destination for shopping. The variety of brands and number of modern retail schemes is unique, especially with Dubai as a hub where any serious brand must have a strong presence. In the long-term, we continue to see the UAE as a shopping destination attracting consumers from every corner of the planet.” — Peter Mark President Emerging Markets, PANDORA.

Looking ahead, Mark says: “We are in the UAE for the long-term and pursue our ambition to give the consumer an even better shopping experience. This means adding new stores, while upgrading the existing network. We want to give the consumers an even better PANDORA experience with many more ‘moments to celebrate’.” — farhana@khaleejtimes.com

KHALEEJ TIMES | SPECIAL REPORT | Wednesday, June 7, 2017

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DENMARK Lindo Port of Odense

Specialised experience in logistics and handling Lindo Port of Odense serves Northern Europe with unique production and storage facilities for large marine, offshore and wind projects ♦♦ Latha Krishnan

Carsten Aa, CEO of Lindo Port of Odense

Lindo Port of Odense (LPO) is the third largest port in Denmark and consists of the Port of Odense and Lindo Industrial Park. LPO consists of 6.4 million square metres of industrial and harbour area and is situated centrally between the North Sea and the Baltic Sea. LPO has vast and specialised experience in swift and precise handling of very large and heavy construction and machinery parts throughout the facility and over quay. Core ser-

Lindo Port of Odense vices also include renting out buildings and areas, cranes and crews, loading/discharging of ships, lifting and transport jobs of up to 1,000 tonnes. Additionally, the North Terminal has wide areas that can offer various bulk activities handled by cranes up to 150 tonnes. “Handling big specialised projects are our forte and we are fully equipped to serve customers with projects of any size. We are unique in Scandinavia, and in Europe itself, as we have a rare production facility. Instead of doing all kinds of goods handling, we are focused on the huge maritime and offshore industry. We have the largest maritime and offshore cluster in Denmark. More than 160 companies use our production halls and other facilities in the port, which provides over 4,000 jobs to an international mix of employees. Our facilities,

including large production halls, quays and docks with large crane cover area, and a water depth of 7.5 to 11 metres, enable us to offer unique production and storage facilities for large marine, offshore and wind projects,” informs Carsten Aa, CEO, Lindo Port of Odense. Leading names in the wind turbine industry, including Vestas Wind Systems — one of the largest manufacturers of wind turbines in the world, Siemens Wind Power of Germany and others have been using LPO for production and logistics support. “We understand that some former ship yards and international construction companies operating in the Middle East are interested in entering the windmill market in Europe, and we want to tell them about our excellent, specialised and large facilities that can provide the best logistics solution to handle their projects,” says Carsten . In order to enhance these excellent and unique facilities further, LPO is set to launch a major new port extension featuring more than 400,000 square metres of project area and more than a 1 km of quayside. It will be a flexible port terminal specially focusing on special heavy projects like wind turbines, maritime projects and scrapping of infrastructure from oil production, while offering more traditional port activities like dry docking. Carsten confirms: “We intend to begin the expansion project this summer and finish it in about 18 months. Early 2019 should see us ready to provide enhanced facilities and new activities at Lindo Port of Odense.”


DENMARK DSV — Global Transport and Logistics

All-round solution providers for global transport and logistics DSV offers value-added services designed to meet various industry specifications In 1976, 10 independent hauliers joined forces and founded DSV in Denmark. Since then, DSV — Global Transport and Logistics has evolved to become the world’s fifth largest supplier of global solutions within the transport and logistics sectors. Today, the company adds value to its customers’ entire supply chain by transporting, storing, packaging, re-packaging, processing and clearing all types of goods. “We work every day from our many offices in more than 80 countries to ensure a steady supply of goods to production lines, outlets, stores and consumers all over the world. Our reach is global, yet our presence is local and close to our customers,” said Michael Carstensen, Managing Director, UAE

and Regional Manager, Middle East. DSV employs more than 40,000 employees at more than 1,000 branch offices, terminals and warehouse facilities all over the world, providing global transport and logistics through three divisions: Air and Sea, Road and Solutions (contract logistics). DSV has been listed on Nasdaq Copenhagen since 1987, and operates under the guidance of a dedicated CSR profile based on the UN Global Compact. “As Dubai is a global hub, we are aware that our customers’ transport requirements can vary from the extremely complex to the very simple, so the key element for improvement is to think and act according to one of our values, ‘Customers first’,” Carstensen added. “It’s DSV’s 10th anniversary in the Middle East, and in those 10 years, we have been able to expand our operations to include the full range of DSV services: From air and sea freight solutions to GCC road distribution, warehousing, special project transports and full supply chain services for the

MEET THE TEAM: Michael Carstensen (left), UAE MD and Regional Manager Middle East; Alycia Elliott, Head of Strategic Business, and Rikke Thomsen, Head of Commercial. oil and gas, renewable energy and show & event management industry verticals. As part of our global renewable energy vertical, we have taken on solar power projects in the Middle East. The solutions that we are supplying are tailored to the specific needs of our customers, including optimisation of lead times and cost.

“It is increasingly difficult to differentiate yourself in the UAE due to its highly developed infrastructure. We work on the basis of the ingrained DSV culture, maintaining a lean and efficient organisation, empowering our staff to make quick dec isions and encouraging innovation,” said Carstensen.



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