RAK Business Magazine, May - June 2020 by New Generation Media

‫مجلــة أعمــال رأس اخليمــة‬

PUBLISHED BY RAK DED

ISSUE (10) MAY-JUNE, 2020

RAS AL KHAIMAH LAUNCHES INTEGRATED PACKAGES TO SUPPORT ITS ECONOMY

REMOTE WORKING

IS THE KEY TO A FLEXIBLE FUTURE

BOOKS OF SELFDEVELOPMENT FOR YOUR BEST

RAK HEALTH SECTOR WELL EQUIPPED FOR THE GLOBAL

HEALTH CRISES

TRAINING ENHANCES POSITIVE EMPLOYEES’ ATTITUDE TOWARDS INSTITUTIONS

RAKEZ

ALLOCATED AED 50 MILLION TO BOOST ITS CLIENTS’ BUSINESS CONTINUITY

WHAT ARE THE PRIORITIES FOR BUSINESS AFTER

CORONAVIRUS Muhammed Ali Mesbah Al Nauimi Ras Al Khaimah Government Lsupport the Emirate’s economy and to ensure continuity of business

WE SUPPORT THE BUSINESS SECTOR AND EMBRACE ITS DEVELOPMENT TRENDS

EDITORIAL

SUPERVISION

SH. Mohamed bin Kayed Al Qasimi EDITOR IN CHIEF Dr. Abdulrahman Alshayeb AlNaqbi Managing Editor Aisha Obaid Alayyan Editors Nathan Hunter Maryam Haji Mohammed Nebras Shafik Abo Zidan

EDITING & DESIGN

Khawla Ibrahim Zina Abboud Zainab Shieha Dareen Abualkheer Maher Safyeldin

Contacts and Advertising

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+971 7 222 9995 info@ngmedia.ae Opinions expressed in articles are the writer’s own and do not reflect the view of RAK DED Or RAKBusiness Magazine. Although every effort is made to ensure the accuracy of the information published, the publisher also disclaims any legal responsibility towards other parties.

Coronavirus and World Economy 1/3 This year, confrontations between the Chinese aspirations to lead the global economy and the American restraints and obstacles to prevent it was expected to continue. However, everyone knew that this would happen eventually. Yet, with the aspirations of other countries such as India and Indonesia to rise to the front lines on the World’s economic stage, a virus, whether it is a product of nature or laboratories, was not expected to ravage countries’ economies affecting their human living hood and economy in terms of jobs’ losses and restricting movement while spreading fear and becoming a Pandemic. According to economic experts at the United Nations, the adverse effects of this pandemic on the economy and societies may outpace previous economic meltdowns. During February alone, Transformative Industries have diminished around the World by 50 billion US dollars. Another report stated a contraction of 2% in China’s national production has multiplier effects on the overall flow of the global economy, which “so far caused the decline is estimated at 50 billion US dollars” in trade between the countries. Moreover, the report also reveals that the sectors most affected by this decline include “Manufacture of precision tools, Machinery, Automotive Equipment, and Telecommunications Equipment.” Pamela Cook-Hamilton, UNCTAD’s Head of International Trade and Commodities, pointed out that among the most affected economies are regions such as the European Union, the United States, and Japan. The travel and tourism sector has also been affected by the world economic turmoil. This global economic turmoil has also reflected on the travel and tourism sector. The World Tourism Organization confirmed that losses of the tourism sector worldwide, this is due to numerous countries’ decisions to suspend air traffic indefinitely. These losses have so far reached 62 billion US dollars, as well as paralysis of all destinations tourists throughout the World. In this respect, Dr. Saeed Al-Batouti, Economic Adviser at the World Tourism Organization, (ATO) pointed out that so far, Meetings, Incentives, Conferences, and Events (MICE) alone, have accumulated 42 billion US dollars in losses. European tourism alone has so far lost 2 billion euros, and losses continue at a rate of one billion euros a month. In its report, the ATO estimated losses in the Arab World would endure around $30.6 billion US Dollars in losses if the epidemic is not contained by the end of April. Furthermore, according to the organization’s statistical estimations, losses are not only limited to inbound tourism’s revenue but also have affected the domestic tourism spendings in the Arab World, where revenues reached $130.8 billion in 2019. As a consequence of COVID-19, tourism activities and events were suspended; hence by the end of April, losses would reach more than 90% or $15.9 billion US dollars. The scene of tourism middle east regain is gloomy too. The organization expects losses of airlines in the Middle East region will reach $14.4 billion of its total revenues if the crisis extends until the end of April. This loss is due to halting thousands of flights, closure of entry points, and airports to control the epidemic; consequently, confirming losses of the aviation sector worldwide will break the $ 200 billion barrier. Frightening economic losses affected countries, companies, and societies from disturbances in the state’s budgets, inability to fulfill obligations, to reveal the weakness of health structures, in addition to hundreds of thousands of companies filling bankruptcy due to the failure to survive economically, high unemployment rates, and interruption of livelihoods. Dr. Abdulrahman Alshayeb Al Naqbi RAK DED Director General

RAS AL KHAIMAH DEPARTMENT OF ECONOMIC DEVELOPMENT VISION: PRas Al Khaimah to be the preferred destination for doing business in the region. MISSION: Planning and organizing economic activities, augmenting investment promotion efforts and the business environment competitiveness to achieve sustainable economic development in the Emirate by relaying on qualified staff and intelligent integrated systems that are hinged on knowledge and innovation to achieve society happiness.

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STRATEGIC GOALS: ֺ Positive Citizenship: Taking responsibility and meeting all customers’ needs and beyond- If possible. (Serve with a Smile) ֺ Institutional Happiness: Continuously strive to win the happiness of our employees, customers, partners, and the community (Make Everyone Happy) ֺ Creativity and Innovation: We want our employees to take initiative with every new, creative and innovative idea. (Be Proactive and Innovative) ֺ Integrity and Transparency: Develop an institutional governance framework and adopt it as an integrated ideology ֺ Sharing Knowledge: One team with unified knowledge we all share (share your knowledge)

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RGANIZATIONAL VALUES: O ֺ Promoting diversified and sustainable economic growth by attracting and encouraging investments. ֺ Developing a business environment according to the global competitiveness standards. ֺ Developing functions of business control and protection and consumer protection. ֺ Developing services, enhancing the customer’s experience, and providing an added value ֺ Expand and enhance the institutional efficiency of institutional support services ֺ Boosting the culture of creativity, innovation, knowledge dissemination and institutional excellence

CONTENTS

MUHAMMED ALI MESBAH AL NAUIMI Despite the global slowdown, Ras Al Khaimah achieves high growth rates Ras Al Khaimah has become a distinct destination for attracting foreign investments due to its distinguished location and its flexible economic laws and modern infrastructure.

RAS AL KHAIMAH’S HEALTH SECTOR Well Equipped to Protect Residents from Global Health Crises

But how will productivity be measured? also how will people find meaning in work if much of their daily life shifts from the real to the virtual?

MUNIRA ABDULLA... Training enhances positive Employees’ Attitude towards institutions

The private health sector in Ras Al Khaimah has provides promising investment opportunities in light of the promising economic and social expansion of the Emirat.

Training adds to the employees new cognitive skills, which help them get rid of behaviors that affect their job performance.

32 16

5 PRIORITIES FOR BUSINESSES AND COMPANIES POST COVID-19

“Open data, participation, cooperation, and involvement of individuals”.

50 c M Re ien ate ill on ad ts’ B d b ion 34 (FD Fo ing usi y RA Sup Th I) rei in F ne KE po gn e ss r Z pa e 3 Di der Co to t Fu te As B r n a ” ec l D ti oo nd “A n tI ct nv ecr uit st it ,A s es ee- y na tm La lys w e e, nt An tic i-

Ch Im all 24 E-C pac eng Th om ts es C O 33 mo e W me on f C 35 4 B rro orld rce sum OVI oo w’ 4 e D b P FO Boo ks s Pr etw latf r Pe -19 R ks of S oje ee orm rce YO of e n c s pti UR Se lf-D tion Tod on l e s f a BE -D ve Ab y’s ou ST eve lop an t lo m d pm en To en t t

WORKING REMOTELY Asustainable and effective future alternative

SEVERAL SUPPORT INITIATIVES AIMED AT TOURISM INDUSTRY RAKTDA has provided short to medium term solutions to mitigate the negative impact of the Coronavirus on tourism in the Emirate of Ras Al Khaimah.

ECONOMIC PANORAMA

Ras Al Khaimah Government Launches integrated Stimulus Package to support the Emirate’s economy and to ensure continuity of business ‫ـــــــــ‬

Following the directions of His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah, and follow-up from His Highness Sheikh Mohammed bin Saud bin Saqr Al Qasimi, Crown Prince of Ras Al Khaimah, Chairman of the Executive Council, the Government of Ras Al Khaimah has announced the launch of a comprehensive integrated stimulus and incentive package. Introduced in line with the ongoing efforts an4 | RAKBUSINESS

nounced by the UAE aimed at easing the financial burden in the Emirate during the ongoing Covid-19 situation, the package forms part of Ras Al Khaimah’s continuous efforts to help private-sector companies face the challenges presented by the current coronavirus pandemic and to ensure continuity of business in all sectors. Covering every sector involved in economic activities, including tourism, government services, environ-

ECONOMIC PANORAMA NEWS

ment and SMEs, the package was developed in cooperation with all concerned entities, with each entity creating the measurements that suit the nature of the companies they deal with. This ensures that all companies and organizations benefit from the incentives, especially SMEs, which make up the largest number of companies operating in Ras Al Khaimah and which are the most affected by the current situation. The package of initiatives highlights the coordinated approach taken by local government entities and free zones in Ras Al Khaimah to alleviate hardship, including the Municipality Department, Department of Economic Development, Ras Al Khaimah Economic Zone (RAKEZ), Ras Al Khaimah Chamber of Commerce, Ras Al Khaimah Tourism Development Authority, the Environment Protection and Development Authority and the General Resources Authority in Ras Al Khaimah. All the bodies have agreed on three levels of support: payment exemptions, postponement of fees and the provision of consultancy and assistance. One of the most notable incentives introduced by RAK government agencies is a 25% exemption on fees for renewing commercial licenses that were closed as per circulars issued by government agencies, as well as for any sectors affected by the crisis, provided they meet the terms and conditions set by the Department of Economic Development in Ras Al Khaimah. â&#x20AC;&#x153;We are eager to implement the directions of the prudent leadership, which aims to ensure ongoing support to companies operating across Ras Al Khaimah. This stimulus package forms part of our commitment to enhancing partnership between the public and private sectors, which is a central pillar in empowering and developing our national economy in the United Arab Emirates and in Ras Al Khaimah. The current circumstances compel us to act in unison and create practical strategies to deal efficiently with this situation and to prepare ourselves to make the most of available opportunities in the post-Covid-19 period,â&#x20AC;? said H.E. Dr. Mohamed Abdullatif Khalifa, Secretary

General of the Executive Council of the Emirate of Ras Al Khaimah. EXTENDING BUSINESS LICENSE RENEWAL PERIOD FOR 60 DAYS The measures taken by the Department of Economic Development in Ras Al Khaimah include extending the license renewal period for 60 days from the date of expiry. In addition, business establishments will be allowed to operate around the clock for three months and be exempt from marketing permit fees for two months during this year, in case the current situation ends. Hotels, resorts and all tourism activities will also be exempt from commercial registration during the closing period, In addition to exemption from late fines and fines for engaging in activities arising from commercial licenses since the beginning of the year. BUSINESS TENANTS EXEMPT FROM RENTAL FEES FOR 3 MONTHS AND HEALTH CARD FEES REduced Ras Al Khaimah Municipality Department has exempted tenants in markets (owned by the Municipality) from rental fees for three months, including barbershops, beauty salons and shops in Nakheel market. It has also exempted advertising companies from rental fees for three months and companies from the monthly installment fees of municipal rental documentation for the commercial sector for one year from the license renewal date. It has also waived permit

fees for outdoor area occupancy for roads and public facilities and reduced fees for issuing health insurance cards. PLANTING TREES INSTEAD OF PAYING FINES AND FEE REDUCTIONS UP TO 50% As part of the stimulus package, the Environment Protection and Development Authority in Ras Al Khaimah has launched an unprecedented initiative reflecting its ecological mandate and desire to establish a culture of environmental focus in the Emirate. The initiative includes replacing the payment of fines for environmental violations incurred before March 31 this year with the planting of trees. The number of trees will be determined by the severity of each violation and the authority will provide the trees to be planted. In addition, fees incurred by industrial establishments that pay less than AED 50,000 annually will be reduced by 25% for the period April 1 to December 31, while annual fees from industrial establishments that pay more than AED 50,000 annually to the authority (such as crushers and cement factories) for April 1 to December 31, 2020 will be deferred for a period of one year. 50% DISCOUNT ON HEMAYA FINES The General Resources Authority (GRA) has announced the exemption of the fees on commercial vehicles (for investors) until October 1, 2020. Additionally, the GRA is availing a 50% discount RAKBUSINESS | 5

of ‘Hemaya’ fines against different establishments and service providers until October 1, 2020, provided that the violations occurred prior to this announcement. It has also offered small businesses, such as grocers, to place their ads on its website free of charge. The CCTV service providers use this website to renew or issue their licenses, and such a proposition will contribute in marketing for their services.

til September 30, 2020. A financial incentives package is also being launched, targeting private tourism companies including mid-level and four-star hotels and specific tourist destinations, golf courses and other tourism institutions. In addition, the authority’s partners in the hospitality sector will be able to participate in a variety of exhibitions and promotional tours that will be launched in 2020 and 2021, with all fees waived.

SUPPORT FOR 15,000 COMPANIES AND 25% DISCOUNT ON NEW RESIDENCE VISAS FOR FAMILY MEMBERS Ras Al Khaimah Economic Zone (RAKEZ) has launched a package of customizable incentives, aimed at supporting more than 15,000 companies operating under its umbrella. These incentives include a three-month exemption from renewing commercial licenses, flexible options for payment of fees, such as installment plans; a 50% discount on the cost of licenses; full exemption from the amount of insurance on new residency visa applications; a 25% discount on new residency visas for family members of people employed by RAKEZ companies; full exemption from renewal delay fines; full exemption from cheque postponement fees; full exemption from package downgrade fees; full exemption from changing activity fees; a 25% discount on new workers’ housing applications; and complete exemption from entrance fees to centers affiliated with RAKEZ.

EXEMPTIONS INCLUDING SUPPORT FOR LOCAL BUSINESSES AND CITIZEN ENTREPRENEURS: Ras Al Khaimah Chamber of Commerce and Industry is continuing its role of supporting the local business community and enhancing its contribution to sustainable development by approving a set of steps to assist commercial organizations operating in the Emirate. These include 100% exemption from delay fines due on memberships ending on June 30, 2020. In an initiative to support citizen entrepreneurs who benefit from the business incubators program, the Chamber decided to exempt them from rental fees due for the period from April to December 2020.

MOTIVATIONAL AND STEERING COMMITTEES The initiatives launched by Ras Al Khaimah Tourism Development Authority include the establishment of an Incentive Committee and an Internal Steering Committee for the Emirate. Other initiatives supporting the tourism sector include a six-month exemption from tourist license fees and exemption from the ‘tourism dirham’ fee from March to May 2020; full exemption from tourism licensing fees for the second and third quarters of 2020 and from tourism licensing fines un6 | RAKBUSINESS

EXEMPTIONS FOR EXHIBITIONS: In order to restore activity to the exhibition sector, Ras Al Khaimah Chamber of Commerce and Industry introduced a 50% exemption on foreign exhibition permits until the end of 2020 and a 25% exemption on consumer and specialized exhibitions held at Ras Al Khaimah Exhibition Center until the end of 2020. Each of these stimulus incentives from across a variety of sectors are aligned with the strategy of Ras Al Khaimah Government to enhance the attractiveness of the Emirate’s business sector. The authorities involved are keen to highlight the competitive advantages of Ras Al Khaimah, which cater to all forms of economic activity and which enhance the Emirate’s position as an attractive destination for investment, lifestyle and tourism

ECONOMIC PANORAMA NEWS

Six winners in the first Round of the Environmental Sustainability Award in Ras Al-Khaimah 2020 The Environmental Protection Authority of Ras Al Khaimah has announced the names of governmental and private entities that won the, Environmental Sustainability Award 2020 in its first session. Fourteen different governmental organizations and industrial establishments participated in the award. Department of Economic Development, won the first rank in all participating government organization, followed by Ras Al Khaimah Transportation came on the second place, while the Federal Authority for Electricity and Water on the third place. UTICO won the first position, in all the industrial sector, while Ras Al Khaimah Ceramics on the second place, followed by Stephen Rock on third. Dr. Saif Mohamed Al-Ghais, Director General of the Environmental Protection and Development Authority said that the award supports the strategic goals of the authority, which is to enhance governmental and private sectors participation in environmental awareness, reduce their en-

vironmental footprint and involve them in contributing the environmental awareness in all segments of the society. “The Environmental Sustainability Award aims to consolidate the principles of sustainable development, and generalize the concept of environmental culture among various sectors of society. It also aims to

enhance the sense of societal environmental responsibility as well as to activate the targeted and distinguished environmental activities in the environmental field. It seeks to estimate and encourage the outstanding contributions in conservation of environment, by institutions excellence and innovation”

OVER A DECADE OF STABLE OUTLOOK: RAS AL KHAIMAH MAINTAINS ‘A’ RATING BY FITCH

‫ـــــــــ‬

RAKDED organizes online handicrafts workshops for ladies RAK DED finalizes its annual plans to develop the skills of members of the “Al-Ghad license program” through organizing many workshops throughout the year. This move will empower and improve the members’ expertise in many aspects, including handicrafts, the art of professional photography, the art of using cosmetic powders, and more. In the first week of this month, RAK DED has organized a webinar workshop on making Emirati incense (Dakhoon), which had a high turnout of sixty (60) ladies from Al-Ghad license holders and the community. ‘Dakhoon’ is one of the primary traditions of the emirate society associated with welcoming guests and bidding farewell. The workshop incorporated identifying the most sought-after varieties of ‘Dakhoon’ among Emirati families and learning how to make them, including Emirati and French selections of incense. Starting from the essential components of preparing ‘Dakhoon’ dough, the expert, Khadija Al Zaabi, showed the ladies how to form circular ‘Dakhoon’ tablets, which are left to dry and to be packaged later in plastic containers for sale.

With a Stable Outlook, a rating the emirate has now maintained for more than a decade. The positive Long-Term Foreign-Currency Issuer Default Rating (IDR) is driven by several factors, chief among them being the emirate’s low government debt burden and high GDP per capita. The rating affirmation reflects the stability of Ras Al Khaimah’s economy and the sound policies implemented by the government and the leadership. This, in turn, creates an encouraging and promising environment for current and prospective investors and enterprises in Ras Al Khaimah, as the emirate continues to build on its strengths, develop its vital sectors, and strengthen relations with international bodies.

RAKBUSINESS | 7

RAS AL KHAIMAH

Showcases Integrated Package of Smart Services from Government and Semi-Governmental Entities Ras Al Khaimah Government Media Office (RAKGMO) has “Ras Al Khaimah Government Media Office will continue to showcased an integrated package of smart services provided coordinate with all its partners in the Emirate to raise peoby government and semi-government entities in the Emirate, ple’s awareness of the procedures and solutions that allow in sectors including health, business and economy, to enthem to complete essential services remotely, which, in turn, courage the use of smart and electronic channels for customallows them to better comply with national efforts to curb the ers to complete their government transactions. spread of Covid-19,” Fatani added. The efforts introduce customers to the entire bundle of serH.E. Eng. Ahmed bin Saeed Al Sayyah, General Manager of vices offered by participating entities and will see comprehenRas Al Khaimah Electronic Government Authority (EGA) said: sive digital content published on these entities’ social media “The Emirate of Ras Al Khaimah offers an integrated digital accounts to offer in-depth information about each entity’s network to cater to the needs of community members and services. They form part of namaintain business continuity. tionwide efforts to preserve pubTHE SMART TRANSFORMATION PROCESS CONTRIBUTES Our ICT sector has the necessary lic health and curb the spread GREATLY TO ENHANCING RAS AL KHAIMAH STATUS AS A DIS- infrastructure to meet customof coronavirus (Covid-19) by eners’ needs at all times.” TINCTIVE DESTINATION FOR LIVING, WORKING AND INVEST- “The mRAK application offers couraging people to stay home, ING, AS WELL AS IMPROVING GOVERNMENT EFFICIENCY BY 88 smart services from entities practice social distancing and avoid going out except for essensuch as RAK Public Prosecution PROMOTING A CULTURE OF CREATIVITY AND INNOVATION tials. Department, RAK Courts, RAK There are at present about 420 smart and e-services offered Municipality, Public Service Department, Environment Proby government and semi-government entities in Ras Al tection & Development Authority and Customs Department. Khaimah. More than 300,000 people benefit from Ras Al It also allows users to make payments for more than 450 govKhaimah Government’s ambition to enhance the Emirate’s ernment services,” Al Sayyah added. “The app is a milestone competitiveness and quality of life for its people. in the EGA’s smart transformation, enabling the Authority to This reflects RAK Government’s commitment to promoting support Ras Al Khaimah’s Vision 2030.” the Emirate, which utilizes an integrated digital work plat“The application contains a business and employment page form that comprises 27 systems for resolving customer applifor those wishing to work in the Emirate and for businesscations and 10 security and monitoring systems. people wishing to invest, in cooperation with Ras Al Khaimah RAKGMO’s Director General, H.E. Heba Fatani, said: “These Economic Zone (RAKEZ),” Al Sayyah explained. “Additionally, efforts align with the directives of His Highness Sheikh Saud and in collaboration with RAK’s Department of Human Rebin Saqr Al Qasimi, UAE Supreme Council Member and Ruler sources, the app allows users to browse and apply for governof Ras Al Khaimah, who called for the provision of solutions to ment jobs. Finally, in collaboration with the Federal Authority ensure the health and safety of the Emirate’s community, as for Identity and Citizenship, the app offers information about well as business continuity for individuals and corporations.” visas and official documents in the UAE” 8 | RAKBUSINESS

ECONOMIC PANORAMA NEWS

RAKDED

Honors Citizen for Reporting Vehicle Sells Masks without License Ras Al Khaimah Department of Economic Development (RAKDED) received a communication from a citizen reporting a mobile pharmacy selling masks and gloves of unknown origin to people. Accordingly, the inspectors of the Commercial Control and Protection Department investigated and verified the report immediately, where they detected a vehicle selling masks, gloves, sterilizers and some plastic tools in Al Dhait South area. All products were confiscated containing 200 masks and 2,500 gloves, and other quantities of these products were sold in the past days as revealed by interrogating the vehicle owner. In addition, it was found that the trade license owned by the vehicle owner is for selling foodstuffs activity, and it has expired since 2018. Given that, RAKDED will take the necessary measures against this wrong practice.

AL HAMRA SLASHING COOLING CHARGES BY UP TO 20 PER CENT Al Hamra, the leading real estate developer, services provider and investment company in the Northern Emirates, has announced a reduction in the cooling consumption charges, benefiting the residents of the Bayti villas, The Royal Breeze Residences, The Marina Apartments, The Golf Apartments and Bab al Bahr Residences. In light of the global COVID-19 pandemic and as part of Al Hamra’s continuous efforts to support the UAE community and provide cost effective services to its residents, Al Hamra is reducing the cooling consumption charges from 0.28 AED/kwh to 0.22 AED/kwh. Residents will see an estimated reduction of up to 20 per cent in their cooling consumption

RAK ICC

LAUNCHES BUSINESS STIMULUS MEASURES TO SUPPORT ITS CLIENTS RAK International Corporate Centre (RAK ICC), a world-class corporate registry in Ras Al Khaimah, has recently announced unprecedented Business Stimulus Measures to support its Registered Agents and promote new business during these challenging times. RAK ICC’s Business Stimulus Measures are in the form of exclusive discounts to its clients in order to provide reassurance, boost business continuity and help them overcome this uncertain period. The Business Stimulus Measures include: • 50% discount on Agent Registration Fees (valid until 30 June 2020). • 50% discount on New Incorporations (valid until 30 June 2020). • 25% discount on Premium Packages (valid until 30 June 2020). • The extension of the Amnesty Programme to 31 December 2020. • Support in deferred payments and instalments. “The introduction of the Business Stimulus Measures are part of our commitment to be there for our clients, providing them with solutions that are essential for their business continuity during this challenging period. We aim for this initiative to effectively assist our partners in facing business challenges caused by COVID-19,” Dr Sameer Al Ansari. Clients can easily avail the Business Stimulus Measures online from the comfort of their homes via www.rakicc.com. To find out more about the other offers, kindly visit: www.rakicc.com/special-offers. RAKBUSINESS | 9

His Excellency Mohammed Ali Mesbah Al Nuaimi, Chairman of the Board of Directors of Ras Al Khaimah Chamber 10 | RAKBUSINESS

ECONOMIC PANORAMA SPOTLIGHT

Muhammed Ali Mesbah Al Nauimi

WE SUPPORT THE BUSINESS SECTOR AND EMBRACE ITS DEVELOPMENT TRENDS Ras Al Khaimah enjoys flexible laws and advanced infrastructure, and provides the investor with variable options in adopting the legal form of activity and the quality of investment, and it is one of the cheapest places to live in the country while retaining all the elements of major cities from the presence of prestigious schools, universities and modern commercial centers which provide the investor with a stable luxurious life. Such incentives have attracted a lot of investors, so with the slow growth in the global economies, Ras Al Khaimah managed to record high and stable growth rates with an average of 3.8% to 5% during the past yearsâ&#x20AC;?. By: Khawla Ibrahim

His Excellency Mohamed Ali Musabbeh Al Nauimi, Chairman of the Board of Directors of Ras Al Khaimah Chamber, in an interview with RAK Business Magazine, during which he spoke about the business environment in the emirate and its qualifications in the following dialogue:

Al Khaimah Exhibition Centre and the Saud Bin Saqr Foundation for Youth Enterprises Development, the Centre for Conciliation and Arbitration, and economic committees emanating from the Board of Directors and including members from the business sector in the emirate, each committee according to its competence from industrial to commercial ...etc. How about the development of Ras Al Khaimah Chamber? Moreover, we can say that the development of the chamber has Where do you stand today and what was achieved out of Ras Al evolved with the economy in general and the needs of compaKhaimah vision 2030 and towards the next 50 years? nies in the emirate in particular, it was the first chamber to Our wise leadership has always placed the necessity of support- issue certificates of origin in the state, and for many years it ing the business community and overcoming obstacles ahead remained the only chamber that issues it for export and indusof it on its top priority, given try outside the state until it was the importance of economy applied later on by the rest of in supporting the comprehenthe chambers. Ras Al Khaimah has become a distinct destination sive development process in for attracting foreign investments due to its distinthe emirate, and therefore the What distinguishes the econoguished location at the entrance to the Arabian Gulf establishment of a commermy of Ras Al Khaimah and what and its flexible economic laws and modern infrastruccial chamber that embraces are the most prominent highture as well as being the most affordable places for life the business sector and adopts lights that attract international its development orientations, investors? in UAE while retaining all the essentials of major cities so that was in 1967, Ras Al Today, as a continuation of Khaimah Chamber became the a career based on solid founsecond oldest chamber In the country after the Dubai Cham- dations, the emirate has become an attractive destination for ber, and today it is a member of the Emirati Chambers Feder- foreign investment, it offers many components that enhance ation, the umbrella of the seven chambers in the state, and a the sustainability and competitiveness of the business envimember of the World Chambers Federation of Commerce, and ronment, and provides diverse investment opportunities. It is communicates with the members to follow up all the develop- known that the economy of Ras Al Khaimah since the start was ments and to learn about the finest global practices, and with not based on a specific type of commodity, but rather was and the laws development in the commerce chambers worldwide, still a diversified economy comprising large industries and dilaws and directions of the chamber have also evolved, today versified companies, and this made it one of the strongest econitâ&#x20AC;&#x2122;s not only providing services to the members, but has also omies in the region and contributed in turn to the economic taken upon itself to provide many other initiatives to support prosperity of the country since long ago. Itâ&#x20AC;&#x2122;s notable that the and enable the national economy, where it embraces the Ras geographical location of Ras Al Khaimah at the entrance to the RAKBUSINESS | 11

Gulf and its location directly on the sea contributed to the prosperity of maritime trade, and marine transportation has become one of the strongest factors on which it depends, where it includes today an international airport and five seaports connecting it with the outside world. Ras Al Khaimah also enjoys flexible economic laws, freehold laws and a modern infrastructure, and has developed free zones and a transparent economic department, and provides the investor with flexible options in adopting the legal form of activity and the speciality of investment, and it is one of the cheapest places for life in the state while retaining all the components of major cities such as the presence of schools, Prestigious universities and modern commercial centres, which provide the investor with a stable and luxurious life in case if he considered settling in along with his family, such incentives have attracted many investors, and therefore, despite the slow growth in global economies, Ras Al Khaimah managed to record high and stable growth rates of 3.8% over the past years. How do you support and empower Ras AlKhaimah business community? We always strive to support the business environment and empower the private sector and companies in the emirate, by investigating all government legal issues and their impact on these companies, we also work to represent them, communicate their voice to the decision makers, and discuss what the government decides so that all laws are in favour of the commercial sector prosperity being considered as the backbone of the economy and plays an important role in the overall development process, we also inform investors of the available investment opportunities, and provide statistics, reports and research related to the various sectors, and prepare analytical economic studies in coordination with the relevant government agencies in order to promote the investment in both the country and the emirate alike. We emphasize the provision of our services to all members at the same level from the small trader to the largest registered company in Ras Al Khaimah, and the number of new memberships registered during 2019 has increased by 27.2% compared to 2018, including 12% for free zone facilities and 7% of the establishments as new branches of facilities inside and outside the emirate, the number of renewed licenses amounted to 17.08 thousand establishments, and distributed over 14 different 12 | RAKBUSINESS

Ras Al Khaimah Chamber took it upon itself to support and develop SME projects by preparing the appropriate environment to start-up and facilities for obtaining licenses, exemptions, and bank guarantees and holding training courses and workshops sectors in 2019, the trade and repair services sector accounted for the highest percentage of 42%, followed by the construction and building sector with 17.4%, and the hotel and restaurant sector was ranked third with 13.9%. The volume of capital for 2019 reached 1.653 million dirhams, excluding the capital value of 225 free zones establishments, and 127 branches for establishments inside and outside the emirate, while the number of new investors reached 2385 investors from 72 nationalities, bringing the total nationalities invested in the emirate to 138 nationality. What about supporting and adopting small and medium enterprises, national projects, and the size of youth projects that fall under the umbrella of the Chamber? According to the directives of His Highness Sheikh Saud bin Saqr Al Qassimi, Member of the Supreme Council of the Federation, Ruler of Ras Al Khaimah, the chamber took it upon itself to support national projects and spread the culture of entrepreneurship among Emirati youth, so Saud bin Saqr Foundation for the development of youth projects embraced pioneering projects and innovative ideas and created the appropriate environment for it to start and grow, and provided facilities for obtaining licenses from the economic de-

partment and all concerned authorities, in addition to exemptions and bank guarantees, holding training courses and workshops and providing financial and administrative consultations and many other services to overcome obstacles before them, therefore as of December 2019 the number of projects affiliated with the membership of the Foundation reached 1,124 project. In Ras Al Khaimah Chamber, we organized the first commercial delegation for small and medium-sized companies to participate in an international overseas exhibition in China, which was the first initiative to support youth projects in the country and this prompted China in the following year to attend and participate in Ras Al Khaimah, after which the Ministry of Economy thankfully organized a delegation that included Participants from all SME support programs to participate in overseas exhibitions. How about your efforts to enhance the presence of Ras Al Khaimah on the business map and attract global investments? We are constantly working in Ras Al Khaimah Chamber to encourage and stimulate investment between the emirate and the various countries of the world in a way that contributes to supporting economic relations in sectors of mutual interest and building capabilities in priority sectors such as tourism, industry, agriculture, technology and energy in line with the emirateâ&#x20AC;&#x2122;s economic plan and promoting it as an attractive business destination. We are also keen to communicate with the commercial attachĂŠs in the embassies to hold more promotional meetings inside and outside the country to inform investors, officials, foreign and local regulatory entities about investment opportunities and the performance of different economic sectors through direct business meetings, or the preparation of various economic studies and put the results of these studies in the hands of investors and decision makers about the performance of Ras Al Khaimah economy. The conference and exhibition industry is still taking its first steps in the emirate, how about its development? Anywhere in the world, exhibitions industry in particular needs more time to mature and grow, and for several years all organizers of such events at Ras Al Khaimah Expo were going to consumer exhibitions away from specialized exhibitions, and this year we issued a decision to limit consumer exhibitions and

ECONOMIC PANORAMA SPOTLIGHT

distribute them only over four periods over the course of The year including the holy month of Ramadan, Eid Al-Adha, back to schools, and mid-year vacation, we also invited competent companies and offered them incentives to organize such specialized exhibitions and we look forward to controlling and developing this sector in a way that benefits the emirate. Perhaps the presence of two exhibition centers in the emirate (the Ras Al Khaimah Expo, the Al Hamra Exhibition and Conference Center) provides a boost to this sector, as Al Hamra Center hosts international conferences and global events in addition to the specialized conferences, festivals and exhibitions in Ras Al Khaimah Expo, and we have a study to develop it and add other buildings adjacent to it to provide services to exhibitors during the exhibition period and the provision of services for visitors and complementary halls, and we will offer the options to the organizer. In the same context, we took an important step in this direction through the Saud bin Saqr Foundation for Youth Enterprise Development by launching the first Ras Al Khaimah International Exhibition for Small and Medium Enterprises SME in November 2019, and we were able to attract more than 210 companies from 25 countries, and we have plans to become an annual event to get acquainted, exchange experiences and sign agreements. This initiative encouraged exhibitions organizing companies to present other specialized exhibitions. We will have five specialized exhibitions this

year, and in the coming year we will target 12 specialized exhibitions. What is the role of the Commercial Arbitration and Conciliation Center in business stability and growth? Commercial arbitration and conciliation emerges as a consensual alternative for companies away from resorting to the courts to adjudicate cases and disputes that may arise between them firstly by conciliation and to find Arbitration by providing a number of accredited arbitrators in the chamber with accordance to the terms they agreed upon or other laws they accept and they may also choose the arbitrator from the list of arbitrators and experts accredited to the centre, and it takes a maximum of two weeks to six months as a maximum limit to consider disputes, and this of course gives flexibility to work, and the rulings are binding and certified by the court. What addition will the Middle East Stevie Awards offer to Ras Al Khaimah? The Middle East Stevie Awards is one of the most prestigious awards in the world, and after two years of discussions, we were able to agree to host the Middle East Prize for a period of seven years, the first three years in Ras Al Khaimah and the next four years will be transferred between the countries of the region and Ras Al Khaimah alternately with the headquarters remain in Ras Al Khaimah And perhaps our hosting of such an award will improve the level of performance of companies

and institutions in the region, and contribute in its progress from the regional to the global level, which takes part in supporting the regionâ&#x20AC;&#x2122;s economy as a whole and enhancing the concept of excellence and innovation. Also, its presence in Ras Al Khaimah will enhance the notoriety of the emirate not only as a tourist destination, but also as an economic destination for finance and business interested in offering best practices to companies in the Middle East. In light of such great development, how do you foresee the future of business in Ras AlKhaimah? Based on the guidance of our wise leadership, we look forward to the future, drawing inspiration from the past to consolidate the historical legacy left by the founding fathers, and Ras Al Khaimah as part of an integrated and interconnected Emirati fabric strives to occupy prominent positions in the ladder of competition, development and prosperity of the business community with the aim of advancing the UAE and consolidating its leading position through future plans and strategies, application of best practices and services, facilitating transactions for all and keeping abreast of various developments in all fields, Therefore, we are keen to innovate in a way that enhances the business process and its progress. Of course, the goal is there, and the road is clearly defined, and we know our way to the top, inspired by the thoughts and guidance of our wise leadership RAKBUSINESS | 13

INVEST

Mansour Althani, CEO & Co-founder of ITCAN

CHALLENGES OF COVID-19 IMPACTS CONSUMER PERCEPTION ABOUT E-COMMERCE PLATFORMS

‫ـــــــــ‬

The pandemic created by the novel coronavirus (COVID 19) is driving consumers in the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA) to turn to e-commerce platforms in getting their essential needs instead of going to shopping malls and retail stores, demonstrating an overnight shift of consumer behavior from bulk-buying to online shopping, according to ITCAN, a leading e-commerce technology and digital marketing company 14 | RAKBUSINESS

focused on e-commerce performance marketing. The firm has reported that online orders on certain products such as skin care and other personal hygiene items have reflected an upward surge following new regulations by authorities to restrict outside activities and urging people to stay at home to curb the further spread of the coronavirus infection. In UAE, the rate of orders for skin care soared to 143.96 per cent with 99.92 per cent of the increase

INVEST

E-commerce is already a fastgrowing market in the Middle East, however, its essential role in society has been highlighted by the current health crisis, solving people’s problems and potentially saving lives came from orders made by new users, revealing a conversion rate of 33.45 per cent in terms of website visitors or footfall. For the same category, orders in KSA rose to 105.37 per cent with 32.7 per cent by new users and a conversion rate of 63.59 per cent. The makeup category also gained huge orders in the UAE reaching 275 per cent with 148.57 per cent ordered by new users. The conversion rate was 67.93 per cent. In KSA, the orders for makeup products shot up to 769.67 per cent by March 26 with 187.15 per cent of the orders from new users, leading to a conversion rate of 276.48 per cent. Mansour Althani, CEO & Co-founder of ITCAN, said: “The current global health situation is leading consumers worldwide to adapt to alternative ways of getting their goods, particularly through online shopping and they are likely to spike even more as cities raise the level of restrictions on people’s movement outside their homes. This shift in consumer behavior puts e-commerce platforms on the forefront to support people in the region who are still used to shopping their needs in malls and stores to move towards online marketplaces.” ITCAN cited previous studies which showed that up to 55 per cent of shoppers in the UAE and Saudi Arabia favor smartphones when buying online. More than 60 per cent of shoppers in the UAE and Saudi have made at least one online transaction, according to Bain & Company based on a 2017 report. As the virus affects many businesses, many have quickly responded to the need of the hour and improved their online presence to keep their customers and attract newcomers

OPPORTUNITIES

USING THE CLOUD TO ENSURE BUSINESS CONTINUITY DURING UNPLANNED EVENTS

‫ـــــــــ‬

Business leaders dedicate the bulk of their time to strategising for growth and longevity by equipping their organisations with the data and technology required to get things done smarter and faster. However, as is often the case, one small crisis like a security breach or a natural disaster can significantly compromise your business data and disrupt business continuity. Here are six benefits of moving core business lines to the cloud for business continuity purposes and the contingent risks if you have not already migrated. 1 FASTER RECOVERY TIME

All the information, systems and applications are grouped into one software block or to a virtual server for easy recovery. This can be managed in minutes compared to older software with questionable restoration times.

Mansoor Sarwar, Regional Director at Sage ME

It is worth the time and money to invest in migrating to a cloud solution that can ease your business continuity concerns and help you sleep at night.

2 LOWER SET-UP AND RECOVERY COSTS

Traditional backup involves the relatively expensive step of setting up physical servers at a remote location. The cloud, on the other hand, enables you to outsource as many hardware and software resources as you need while paying only for what you use. 3 NO LOCATION TIES

Choosing the right physical location for a disaster recovery facility is critical because if the facility is affected by the same disaster, important information may be lost forever. Having your primary and backup servers in the same location can spell trouble in case of a fire, a hurricane, or a flood. With cloud technology, you can rest assured that your backup facility is located in another part of the world if disaster strikes. 4 EASIER RECOVERY OF FIXED ASSETS

What about the fixed assets of your business – tangible things like desks, chairs, and equipment? You need to give your insurance provider an accurate record of purchasing costs and depreciation to start your recovery pro-

cess. What if that data is damaged in the event as well? Safeguarding that information in the cloud can ensure quick recovery. 5 COVERAGE AS THE BUSINESS GROWS

As your organisation grows, your cloud solution grows with you without risking the additional data workload. In addition to saving money by only paying for the storage space you need, you also have the option of easily adding extra storage. 6 BETTER SECURITY AGAINST CYBER THREATS

Let’s face it: when it comes to physical security of their data and facilities, small and medium-sized businesses can only do so much to prevent breaches. On the other hand, cloud software vendors can employ stronger physical security measures at their facilities to ensure data safety. Likewise, IT support providers are equipped to prevent data loss from natural disasters, power outages, and common errors RAKBUSINESS | 15

DUBAI FUTURE FOUNDATION

WORKING REMOTELY, ASUSTAINABLE AND EFFECTIVE FUTURE ALTERNATIVE

Dubai Future Foundation has launched the first issue from a series of reports to tackle the different challenges that organizations in Dubai and the world will face once the COVID-19 global outbreak subsides. The series comes at crucial time where public and private sector organizations need to be well-prepared for future opportunities and challenges.

Titled “Life After COVID-19: Workspaces”, the first report, launched today, looks into the future of work post the novel virus, the notion of social distancing and what regulatory implications and work models arise from working remotely. The report further discusses the impact of this on productivity, rental and travel costs and employees’ carbon footprint. Through highlighting the current situation, potential opportunities and both short and long term recommendations, the report seeks to support the UAE, along with the rest of the world in their efforts to address the challenges presented by this pandemic. HE. Khalfan Belhoul, CEO of Dubai Future Foundation said, “The launch of these reports comes as part of the Foundation’s efforts to better navigate and anticipate the future of the vital sectors in Dubai and the UAE in light of the current global health challenges, as well as seeks to provide recommendations and future outlooks to mitigate and address these challenges.” His Excellency added: “The outputs of this report will be used to draw a clearer outlook of Dubai’s future in the coming period and deep dives in specific on the future of work, 16 | RAKBUSINESS

looking into the necessary policies and regulations that needs to be implemented to ensure business continuity, and propose new work models that can potentially be exported globally.” The inaugural report focuses on the growing trend of working remotely – it is set to be the new norm for the foreseeable future, with employers developing more flexible ways to conduct work. This will lead to a more agile, human-centered, inclusive system that depends on individuals as much as the management of their companies. To meet this rapid change, key policies and processes will need to be put in place. Organizations need to have a ‘business continuity plan’ to ensure that essential tasks are carried out. Other jobs that are rarely undertaken remotely will need to be rethought, with a view to employees using their skills and knowledge for other forms of work. Changes Imposed by the Current Challenges Abdulaziz AlJaziri, Deputy CEO and COO of Dubai Future Foundation pointed out, “that the shift imposed by the current changes towards working remotely raises many questions on the meaning and nature of work, one of which is whether there is an actual

Companies that have previously established policies for working remotely have found that is practice:

INCREASES PRODUCTIVITY

REDUCE RENTAL AND TRAVEL COSTS

LOWER EMPLOYEES’ CARBON FOOTPRINT Remote work has raised questions about the nature and meaning of work like how will productivity be measured if employees can no longer be assessed according to tot he number of hours work ? also how will people find meaning in work if much of their daily life shifts from the real to the virtual?

H.E. Khalfan Belhoul

need of a physical work space, the nature of employee relationships, how will HR police adapt whilst ensuring employees’ productivity and happiness and finally the potential widespread of events and seminars going digital” AlJaziri added: “The Dubai Future foundation is working on hosting virtual dialogues discussing what the future holds post COVID-19, providing an opportunity for all members of society as well as experts to share their views, ideas and recommendations”. THE SPREAD OF “REMOTE WORK” AND GLOBAL STATISTICS Working remotely has typically been common in certain sectors, such as IT, marketing, app development and some forms of retail. It has led to increased productivity, virtual collaboration, and for some companies, lower costs, including office rental, travel and events. Companies that have adopted remote working policies have also been able to reduce their carbon footprint, with employees commuting less; therefore, using less energy. Working remotely has been proven to be a well-suited solution to certain forms of activity such as ‘deep work’, where intensive research and thinking is required. A study done by Global

Workplace Analytics found that remote workers have grown by 140 percent since 2005. Owl Labs, a leader in immersive video conferencing technology, reported that 16 percent of global companies are exclusively hiring for remote job opportunities. By 2028, a study by UpWork, a work-from-home platform, estimates 73 percent of all department will have remote workers. The report states remote working is appropriate for certain types of businesses, the most important of which time-consuming research and thinking. RECOMMENDATIONS TO KEEP ABREAST WITH THE CHANGES In the short term, the reports finds that HR policies will need to adapt to the current situation, focusing on employee happiness and productivity. In the longer term, employers will need to consider whether working remotely may be beneficial for employees, and whether jobs can be automated or digitized to allow for more multi-disciplinary work. With a clear directive from the government, public entities, private companies and all educational bodies in the UAE have begun working remotely. Given the current situation, flexible working has opened wider questions around the nature of work, including that of whether a permanent office workspace is actually necessary. At a time of global uncertainty, many are questioning how these new changes will affect their careers, and how they will interact with their peers. They are curious to know how remote working will affect their relationships with their employers and how it will affect

Abdulaziz AlJaziri

the visa process that is already in place. They wonder about how productivity is measured and whether people can continue to find value in their work if much of it becomes digital. AN OUTLOOK ON THE FUTURE OF WORK AND EMPLOYMENT Additionally, the report introduces several short and long-term recommendations. On the short-term recommendation (during the COVID-19 outbreak), is to introduce a well-being model, such as happiness indices and activities to promote social interaction. These could take the form of digital community events and will become prevalent in HR policies to ensure employees remain mentally healthy while working from home. Productivity will be measured through outputs rather than inputs, with employees managing their own time, instead of being subject to mechanisms that monitor hours or visibility. In the long-term, working remotely may become an integral part of business models post-COVID-19 with entities maintaining a remote working structure, except for meetings that must be held face-to-face. Large events, seminars and workshops will go digital, with virtual and augmented reality used to create ‘real-life’ inclusive experiences. With automation increasing rapidly, employees will need to diversify their skills or use their existing skills for other jobs. Creativity will increase as traditional jobs are replaced. As well-being workplace models are implemented, they will need to be designed to achieve and maintain happiness at work and avoid mental health issues RAKBUSINESS | 17

RAS AL KHAIMAH’S HEALTH SECTOR WELL EQUIPPED TO PROTECT RESIDENTS FROM GLOBAL HEALTH CRISES

The current Covid-19 pandemic has brought home just how important it is for countries to have the most up-to-date healthcare facilities for the protection of their populations. Ras Al Khaimah’s health sector is a prime example of how continued investment can create a health ecosystem that is equipped to deal with even the most serious and consequential of global health emergencies. Ras Al Khaimah’s health sector has undergone a quantum leap in the past four decades, witnessing a major transformation through the use of the most advanced medical equipment and the upgrading of infrastructure. Thanks to the attention of the UAE Government, Ras Al Khaimah’s healthcare sector is now ranked among the world’s best, according to global indices and international scoring systems. The UAE places enormous emphasis on healthcare, exemplified by the sector’s position as one side of the country’s comprehensive development triangle; the other two being education and the economy. The continuous evolution of the health sector in Ras Al Khaimah and the wider UAE was a priority established by the late Sheikh Zayed bin Sultan Al Nahyan, May God rest his soul, at the very inception of the union in 1971. Today, the health sector is one of Ras Al Khaimah’s jewels and is being continuously developed under the direction of His Highness Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah. Its progress is being driven by the efforts of the Ministry of Health and 18 | RAKBUSINESS

Prevention, which oversees five government hospitals in the Emirate: Shaam Hospital; Ibrahim bin Hamad Obaidullah Hospital; Ibrahim Obaidullah Hospital for the Elderly; Saqr Hospital; and the new Abdullah bin Omran Hospital for Obstetrics and Gynecology. Ras Al Khaimah’s public healthcare sector is also home to 16 centers for primary care, dentistry, family medicine and preventive medicine. Distributed across all regions of the Emirate, these facilities are equipped with the latest medical technology, specialized staff and advanced laboratories to provide healthcare services in an array of specialties. All of these hospitals and centers are internationally accredited and apply best practices in terms of quality, safety and clinical services. THE PRIVATE HEALTHCARE SECTOR Complementing the good work of the public health sector, private healthcare in Ras Al Khaimah is high on the list of local government priorities. Through the efforts of the Ministry of Health and Prevention, the Emirate aims to achieve integration and cooper-

RAK

HEALTHCARE SECTOR

THE NUMBER OF GOVERNMENT HOSPITALS

CENTERS FOR PRIMARY CARE, DENTISTRY, FAMILY MEDICINE AND PREVENTIVE MEDICINE

THE NUMBER OF HOSPITALS AND PRIVATE MEDICAL CENTERS IN RAK

INVEST MADE IN RAK

Ramy Jallad, RAKEZ Group CEO RAKBUSINESS | 19

The private health sector in Ras Al Khaimah has a distinguished presence on the government’s priority list, and the sector also provides promising investment opportunities in light of the promising economic and social expansion of the Emirat ation in the provision of high-quality medical services and the development of the healthcare system in line with global standards. The private healthcare sector also provides promising investment opportunities as a result of the substantial economic and social expansion of Ras Al Khaimah. RAK Hospital, which was inaugurated by H.H. Sheikh Saud in 2007, is a prime example of the success of private healthcare in Ras Al Khaimah, having attained a renowned reputation for its high levels of service. The hospital was the recipient of the Sheikh Khalifa Award for Excellence

in the Business Sector - the only healthcare institution in the private sector that has won the honor. It received the accolade in the award’s 17th edition in 2019 in a list that included more than 50 companies representing various economic sectors in the UAE and abroad. Ras Al Khaimah also includes a network of private hospitals and specialized clinics that provide a variety of services and medical specialties to the population. The desire of the Ruler of Ras Al Khaimah to promote advanced ophthalmology care in the Emirate saw him inaugurate a specialized eye care facility, RAK Eye Care Center. Fully dedicated to the diagnosis and treatment of all eye ailments and conditions, the center provides an array of treatments and therapies, many of which are offered for the first time in the region and considered the best in the Middle East. SHEIKH KHALIFA SPECIALTY HOSPITAL Among the newest and most important medical facilities in Ras Al Khaimah is the Sheikh Khalifa Specialty Hospital, one of the initiatives of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the

UAE. Opened in 2015 under the management of Seoul National University Hospital, South Korea, the facility provides superior treatment services in oncology, neurosurgery and cardiovascular surgery, comparable to those provided at the most advanced international therapeutic centers. The hospital also receives cases referred from hospitals and clinics from outside the Emirate and provides its patients with specialist care in line with the highest global standards. RAK MEDICAL & HEALTH SCIENCES UNIVERSITY H.H. Sheikh Saud identified the need for a continuous supply of highly qualified and specialized medical graduates to ensure the success and stability of the healthcare system, so his vision led to the creation of RAK Medical & Health Sciences University. He saw the need to support the sector with distinguished graduate doctors, nurses, pharmacists and technicians, so under his directives the university was established to offer accredited programs and bachelor’s and master’s degrees in medicine, dentistry, general nursing, pharmacy, pediatrics and mental health nursing. The

SHEIKH KHALIFA SPECIALTY HOSPITAL

65000

SQM IS THE AREA OF THE HOSPITAL

248

NO. OF INPATIENT CARE BEDS THE UNIVERSITY HOSTS STUDENTS FROM

BEDS AVAILABLE FOR RECOVERY AFTER OPERATIONS 20 | RAKBUSINESS

INVEST MADE IN RAK

RAK MEDICAL & HEALTH SCIENCES UNIVERSITY

108

ACADEMIC STAFFS

138

ADMINISTRATIVE STAFF THE UNIVERSITY HOSTS STUDENTS FROM

COUNTRIES

university hosts students from 50 countries, with the faculty and administrative staff comprising people of 33 different nationalities. Adhering to the highest academic standards, RAK Medical & Health Sciences University enjoys a prominent position in medical university rankings across the region. NATIONAL SCREENING CENTER RAS AL KHAIMAH As part of the UAEâ&#x20AC;&#x2122;s proactive efforts to combat the coronavirus outbreak and limit its spread, Ras Al Khaimah is home to a drive-through National Screening Center, which is operated by a subsidiary of Abu Dhabi Health Services Company (SEHA). The center provides prompt and efficient examination services using the latest technologies and a skilled group of healthcare professionals that provide testing services for the community in line with the highest international standards. Examinations take just 5 minutes and the center can test up to 500 people per day. It also houses six clinical rooms, including two examination rooms, two laboratory rooms, an operating room and a store

Breakthrough COVID-19 treatment developed by UAE stem cell center with promising initial results he treatment was developed by a team of doctors and researchers at the Abu Dhabi Stem Cell Center, ADSCC, and involves extracting stem cells from the patientâ&#x20AC;&#x2122;s own blood and reintroducing them after activating them. The patent was granted for the innovative method in which the stem cells are collected. The treatment was administered in the UAE to 73 COVID-19 patients who have all been successfully treated and cured of the virus by inhaling the treatment into their lungs after it has been nebulized into a fine mist. It is hypothesized to have its therapeutic effect by regenerating lung cells and modulating the immune response to keep it from overreacting to the COVID-19 infection and causing further damage to healthy cells. RAKBUSINESS | 21

BUSINESS

Highness Sheikh Ahmed bin Saqr Al Qasimi, Chairman of RAKEZ

AED 50 Million Support Fund Allocated by RAKEZ to Boost its Clients’ Business Continuity ‫ـــــــــ‬ Ras Al Khaimah Economic Zone (RAKEZ) has launched customized bundles of incentives with a total value of AED 50 million to ease the impact of the current global situation to its family of over 15,000 companies and reinforce their business continuity. “Our clients are at the heart of everything we do, and now more than ever, we are here for them,” said His Highness Sheikh Ahmed bin Saqr Al Qasimi, Chairman of RAKEZ. “We understand that these uncertain times present unique challenges to different busi22 | RAKBUSINESS

nesses, so we decided not to rush and launch unevaluated incentives. Instead, we took the time to study the situation from our clients’ perspective – what challenges each sector is facing and how we can lessen their burdens. With the allocation of this AED 50 million support fund, we make it possible to customize bundles of benefits based on each clients’ need to boost their business stability. Our aim is to make sure that when this situation ends, we come out stronger together and ready to bounce back.”

BUSINESS DEVELOPMENT

The new incentives development comes within the framework of customer support and identifying directly their requirements in order to support these companies to continue their business and reduce the burden in light of the current exceptional global conditions Under the allocated fund, the economic zone has introduced Client Support Boosters for the SME and the industrial sectors, offering various incentives and the agility to customise solutions based on its clients’ needs. SME Client Support Boosters for RAKEZ’s co-working and office clients: • 15% discount on total renewal package. • 25% discount on new dependent visas. • 100% waiver of late renewal penalties. • 100% waiver of cheque postponement fees. • 100% waiver of package downgrade fees. • 100% waiver of activity change fees. • 100% waiver of security deposit for new visa requests. • Flexible installment options. Industrial Client Support Boosters for RAKEZ’s industrial clients: • 50% discount on licence fees. • 100% waiver of cheque postponement fees. • 100% waiver of late renewal penalties. • 100% waiver of all RAKEZ gate access fees. • 100% waiver of security deposit for new visa requests. • 25% discount on new labor accommodation requests. • 25% discount on new dependent visas. • Flexible installment options. Commenting on the customization benefits that RAKEZ offers to its clients, HH Sheikh Ahmed, said: “We have always been believers of customisation because we understand that businesses have different needs. On a general level, we have developed a list of incentives to help our clients, but we are here to listen to them and offer exactly the kind of backing they need based on their circumstances”

MyBusiness Package Unveiled to Encourage Entrepreneurship in Times of Uncertainty ‫ـــــــــ‬

Committed to encourage UAE-based entrepreneurs to turn uncertainty into opportunity, Ras Al Khaimah Economic Zone has rolled out its MyBusiness Package, which is bundled with everything an individual needs to bring their ideas to life during these challenging times. RAKEZ’s newest limited-time package has been designed to include a business licence and establishment card valid for a year, a UAE investor visa, and other attractive incentives that are extended to the dependents of entrepreneurs. At an annual rate of AED 11,500, the package offers guaranteed fixed price for the first renewal, and for a more convenient kick-start, investors can register with only half the payment upfront and the rest after six months. “These times can be uncertain but who says we cannot turn this into an opportunity? We introduced MyBusiness Package to bridge individuals to their dreams – giving them a chance to act on their business ideas and flourish. Aspiring entrepreneurs can use the time in their hands to plan their next great idea and go for it,” said Ramy Jallad, Group CEO of RAKEZ. “With this package, we

want individuals to awaken their entrepreneurial spirit, and take charge of their future by setting up their business and nurturing its growth. At RAKEZ, we are committed to stand with them as they transition to the business landscape, just like how we stand with our family of over 15,000 clients.” Investors can easily avail the MyBusiness Package online from the comfort of their homes without requiring any physical presence. To find out more about the package, kindly visit https://rakez.com/Promotions/MyBusiness-Package or call +971 7 2041111. RAKBUSINESS | 23

THE WORLD BETWEEN TODAY’S AND TOMORROW’S PROJECTIONS READING IN THE WORLD ECONOMIC OUTLOOK REPORT, APRIL 2020 The COVID-19 pandemic is inflicting high and rising human costs worldwide. Protecting lives and allowing health care systems to copping have required isolation, lockdowns, and widespread closures to slow the spread of the virus. Thus, its severe impact on people and economic activity is mitigated. In all cases and as a result of the pandemic, the World Economic Outlook Report, issued by the International Monetary Fund April 14, 2020, stated that the global economy is projected to contract sharply by –3 percent in 2020, much worse than during the 2008 financial crisis. Presented by Dr. Talib Hassan Hayali, Economic Expert RAK center for statistics & studies

One of the scenarios assumes that the pandemic fades in the second half of 2020. The global economy is projected to grow by 5.8 percent in 2021 as economic activity normalizes, helped by governments, and banks’ support. These economic scenarios are subject to change according to the feedback variations that economies receive out of the current repercussions, the pandemic pathway, and the increase of international cooperation and coordination. That is away from blaming, naming, and shaming, and also, apart from blocs and taking unilateral decisions that may not ultimately serve even those who make them. Because of the current global economic fallout resulting from coronavirus pandemic outbreaks, decision and policymakers will need to make fast and substantial actions at the level of financial markets and financial and monetary policies to support affected households and businesses. Such actions will help to normalize once the pandemic decreases gradually, and the economic activity starts to recover. The response has been swift in many affected advanced countries, if not all, and in many emerging and developing market economies. Large central banks have taken significant actions in recent weeks, including monetary stimulus and liquidity facilities, to reduce stress on businesses and households. Banks have also been encouraged to renegotiate loans to distressed households and firms while maintaining a transparent assessment of credit risk. These actions have enhanced confidence in those affected and have contributed to limiting the amplification of damage, thus ensuring that economies are in a better place to recover. Measures will need to be scaled up if the stoppages to economic activity are persistent, or the pickup in activity as restrictions are lifted is too weak. That will help to augment confidence, boosting aggregate demand, and reviving the economy. Hence, averting being back to square one. 24 | RAKBUSINESS

GLOBAL ECONOMIC GROWTH FORECAST 2020-2021 According to the International Monetary Fund forecast (Table 1), global growth is projected to drop from 2.9 percent in 2019 to -3.3 percent in 2020 and rise to 5.8 percent in 2021. These projections differ from those in January 2020 WEO Update, where the rate of growth is projected to decline by a 3.3 percent margin in 2020, and a 3.4 percent margin in the 2021 forecast, as it reached 2.4 percent instead of 5.8 percent. As for October 2019 WEO report, the growth rate was low by 0.1 percent for 2020 and 0.2 percent in 2021, compared to January 2020 WEO projections. It is smaller compared to the April 2020 WEO report, with a margin of 3.4 percent for 2020 and 3.6 percent in 2021. As for the growth of the United States economy, April 2020 forecast was more optimistic than January 2020, and October 2019 forecasts, especially after the American administration changed its way of combating the virus and the delay of the prompt mass isolation measures, in addition to the rise in rates of deaths and unemployment. The same applies to the euro area. For emerging and developing economies, the forecasts were less pessimistic, especially in 2020, but more optimistic in 2021, particularly in the estimates of the April 2020 report, compared to the other two reports. Projections were positive for Emerging Asia, especially in the last report. It is projected to have a growth rate of 1.0 percent in 2020 and 8.5 percent in 2021. That is unlike October and January reports, where growth is expected to be negative this year and low in 2021, with an average growth rate of no more than 2.5 percent.

Table 1 : Global Economic Growth Projections 2020-2021 Projection 2019 Details

Projections

October 2019 Pro- January 2020 WEO Update jec- WEO Update Projections tions Projections

2020

2021

2020 -6.3

2021 2.4

2020 -6.4

2021 2.2

4.7

-7.7 -7.9 -8.8

2.9 3.0 3.3

-7.8 -8.0 -8.9

2.9 3.0 3.3

-1.0

6.6

-5.4

2.0

-5.6

1.8

5.5 0.1 0.3 3.1

1.0 -5.2 -3.3 -1.6

8.5 3.4 4.2 4.1

2.4

-4.2

5.4

-4.8 -6.8 -5.9 -5.1 -6.9

2.6 1.1 1.2 0.6 2.6

-5.0 -7.0 -5.7 -5.2 -6.9

2.3 1.0 0.8 0.4 2.6

World output

2.9

-3.0

5.8

Advanced Economies United States Euro Area

1.7 2.3

-6.1 -5.9

4.5 4.7

1.2

-7.5

3.7

Emerging Market and Developing Economies Emerging and Developing Asia Latin America and the Caribbean Middle East and North Africa Sub-Saharan Africa World Growth Based on Market Exchange Rates

(%)

Ref: International Monetary Fund - World Economic Outlook, April 2020 - January 2020 WEO Update- October 2019 WEO Report.

BUSINESS STATISTICS STUDY

In general, the three forecasts indicate that economies in the euro area and the United States will be the most affected with the lowest growth rate in 2020. The growth rate of emerging and developing Asia will be the best, followed by emerging markets and developing economies, then Africa and Sub-Saharan Africa. More details see (Table 1). Amid the world economic circumstances before the pandemic and during the current conditions, the following question arises. Is the world economy able to Recover and achieve high growth rates in 2021? Especially in the United States and the euro area? GROWTH PROJECTIONS OF TRADE IN GOODS AND SERVICES 2020-2021 The International Monetary Fund projections indicate in its three reports a significant decline in the world trade volume in products and services in 2020. In the October 2019 report, it was estimated at almost 15 percent, 3.2 percent more than the April 2020 estimates, and 2.9 percent more than the January 2020 ones. As per April 2020 report, world trade growth is highly expected to reach 8.4 percent in 2021, compared to 4.7 percent in January 2020 report and 4.6 percent in October 2019 report. The World Trade Organization expects in its report issued on Wednesday, April 09, 2020, that the volume of world trading will drop by 32 percent this year, given the pandemicâ&#x20AC;&#x2122;s dramatic economic impact. These expectations are subject to the swift control of the pandemic and the volume of international financial support of boosting commodity supply. This is to meet global demand that will undoubtedly be significant in the third quarter of this year and next year. World import trade is anticipated to be very low in advanced economies, compared to emerging and developing economies. Its rates will reach -11.5 percent and -8.2 percent in 2020, respectively, compared to a rise of 7.5 percent and 9.1 percent in 2021. On the other hand, exports will be high by 7.4 percent and 11.0 percent in 2021 in a row, after being expected to drop more than imports to -12.8 percent and -9.6 percent this year, as per April 2020 report. Other projections indicate that imports and exports will have lower growth in 2020 and 2021 see (Table 2). Oil prices collapsed substantially by about 50 percent these last few weeks. That is attributed to the oil demand crash and immobilizing of transportation, industry, and tourism. Also, oil-producing countries have failed to reach an agreement on production quotas cuts, accompanied by intense competition between some countries that resulted in exceeding the quantities agreed upon previously. The April 2020 report expects oil prices to drop by (-42 percent) this year, compared to an

Table 2 : International Monetary Fund Projections for World Trade Growth 2020-2021 (%) Projections 2019

Details

Projections

Pro- January 2020 October 2019 jec- WEO Update WEO Update tions Projections Projections

2020

2021

2020

2021

2020

2021

World output

2.9

-3.0

5.8

-6.3

2.4

-6.4

2.2

World Trade (goods and services) Imports Advanced Economie Emerging Market and Developing Economies Export Advanced Economies Emerging Market and Developing Economies Commodity Prices (US dollars)

0.9

-11.0

8.4 -13.9

4.7

-14.2

4.6

7.5 -13.8 9.1 -12.5

4.3 4.0

-14.2 -12.5

4.2 4.0

4.4 6.8

-15.3 -13.7

4.3 6.6

Oil Consumer Prices Advanced Economies Emerging Market and Developing Economies

1.5

-11.5

-0.8

-8.2

1.2

-12.8

0.8

-9.6

7.4 -14.9 11.0 -13.7

-10.2

-42.0

6.3 -37.7

11.0

-35.8

10.9

1.4

0.5

1.5

5.0

4.6

4.5

-0.4 0.0

-1.3 -0.2

-0.3 0.0

-1.2 0.0

Ref: International Monetary Fund - World Economic Outlook, April 2020 - January 2020 WEO Update- October 2019 WEO Report.

increase between (6.3 percent - 11.0 percent) in 2021 in the previous two reports. As for consumer prices, the consumption of individuals and families has decreased due to lockdowns, low incomes, the disappearance of many commodities, and high prices, especially prices of essential and necessary products. Moreover, the increase in the unemployment rate following the suspension of tourism, hotels, transportation, trade, restaurants, and services that employ quite a few workers. Nonetheless, the report expects the rates of consumer prices in emerging and developing economies to rise by 0.5% and 4.6% in 2020, respectively, compared to 1.5% and 4.5% in 2021. This remains subject to the magnitude of disparity between supply and demand and the swift recovery of global economies. THE UAE ECONOMY GROWTH 2020-2021: The International Monetary Fund expects in its world economic outlook report, April 14, 2020, that the state economy would be able to face and overcome the Covid-19 crisis and achieve a growth rate of (- 3.5 percent) this year and 3.3 percent in 2021. The value of total exports is expected to reach $ 318.0 billion this year, increasing to $ 369.4 billion in 2021. Imports value is projected to reach $ 278.5 billion this year and $329.9 billion next year. Accordingly, the state balance-of-trade surplus will reach $ 51.4 billion in 2021 compared to $ 39.5 billion in 2020. As for oil prices, they are not expected to exceed $ 32.6 a barrel this year, and are likely to decline to $ 25.7 in 2021. In general, all expectations are contingent on the health and economic status of different countries. Despite the financial challenges, emerging market and developing economies remain in a better situation than advanced economies, euro countries, and other international aggregates, in terms of economic growth rates and world trade in the April 2020 report. The current crisis is a reaction to the consequences of Covid-19 containment measures. Compared to previous crises, this one requires a different role for economic policies and the associated strains in financial and commodity markets. That is in terms of stimulus difficulties and the pandemic continuity, especially for the most affected sectors. In previous crises, decision-makers used to seek to foster economic activity by stimulating aggregate demand as quickly as possible, and thus raising growth rates and bypassing the crisis. Yet, in the current crisis, it is entirely different. It is needed to stop the pandemicâ&#x20AC;&#x2122;s repercussions as soon as possible to achieve stability. This is followed by a recovery phase that requires closer cooperation between countries and overcoming geopolitical tensions. Cessation of both trade conflicts and political uncertainty is also needed, especially between the United States and its trading partners. These conflicts increase challenges facing governments and limit the stability and sustainability of economic growth rates RAKBUSINESS | 25

UNITED IN RIVALRY BMW TEAMS UP WITH WORLD’S LEADING ESPORTS TEAMS The BMW brand is currently engaged in a major expansion of its involvement in the world of computer, online and simulation games (esports), a field that’s been continuously growing in popularity, especially among the next-generation target group. As far back as 2017, BMW first attracted attention in the world of virtual sports as the official partner of the European League of Legends finals in Paris. And by 2019 and the successful SIM Racing season concluded by the BMW SIM LIVE premiere at BMW Welt in Munich, BMW had firmly moved into being a major player in esports. But above all, the BMW brand now supports some of the most influential and successful esports teams and strives to promote 26 | RAKBUSINESS

the esports discipline as a whole. The esports sector has maintained stellar growth rates for years. More and more gamers from a wide variety of countries compete online in both sports and nonsports simulations – as well as in popular offline events held all over the globe. “Esports shows us how sports entertainment can continue to thrive and play a key role considering today’s challenges. Our entry into esports is motivated by a commitment to become a sustainable, global partner, supporting the teams and the discipline as a whole, before, during and after these times of uncertainty,” says Jens Thiemer, Senior Vice President Customer and Brand BMW. “Joining forces with the best

teams in the world, we aim to use our design and innovation skills to help shape the discipline in the long term. Our esports involvement is an important milestone providing, for the first time, a new intersectionality with a dynamic and fast-growing community. We consider esports a promising, growing addition to our marketing activities, helping BMW on its journey to becoming an emotive brand people relate to.” BMW PARTNERS FIVE OF THE MOST SUCCESSFUL ESPORTS TEAMS To firmly establish itself as a new major player in esports, BMW will from now on partner five of the world’s top esports organisations. Cloud 9 (US), Fnatic (UK), Funplus Phoenix (China), G2 Esports (Germany) and T1 (South Korea) each comprise up to 200 players battling it out above all in the incomparable League of Legends. Launched in late 2009, this fantasy multi-player game is without doubt the most popular and influential online game around, with a daily total of up to eight million players from all over the world logged in concurrently. To innumerable fans, League of Legends (LoL) is the premier esports cate-

BUSINESS PARTNERSHIP

gory. Last year’s LoL World Championship Finals in the AccorHotels Arena in Paris attracted an online audience of approx. 44 million fans worldwide viewing the live stream at home. On top of that, there are also other disciplines such as Dota 2, FIFA, Fortnite or Rocket League that the teams compete in all over the world, in tournaments of comparable size that will also be supported and promoted by BMW. The BMW brand will not only act as a strong sponsor for these top teams but also as a powerful partner to introduce the esports discipline to an even wider audience. “Our long-term goal is to grow our team portfolio into true household names within the general sports and entertainment industry,” says Jens Thiemer. WE ARE “UNITED IN RIVALRY” AND “UNITED AT HOME” The teams’ competitive spirit and their historic rivalries have always been part of the esports scene’s lore. At the same time the teams share a boundless passion for gaming and related activities. This is what “United in Rivalry” stands for, even more so in these present times of uncertainty and global challenges. As part of the partnership with BMW and in

The e-sports sector has maintained excellent growth rates for many years. Participation in such competitions is extremely important as it allows access and interaction with a dynamic community that is experiencing continuous growth line with esports’ culture, the teams will challenge and try to outdo each other prior to tournaments, using the #unitedinrivalry hashtag on channels like Instagram, Twitter, Facebook, WeChat and various streaming platforms across the world. These mutual wind-ups are meant to increase each team’s motivation, but above all they also serve to entertain the fans. It goes without saying that the teams’ interactions always stay within the parameters of esports etiquette, reflect the respect they have for each other and of course will take place at home. Therefore, they will use the #unitedathome hashtag in combination with #unite-

dinrivalry. “We’re thrilled to expand our partnership with BMW to the global front and continue to uphold shared pillars of excellence and peak performance. We welcome the outstanding teams that we’ll work alongside to drive competitive excellence forward with BMW!” Jack Etienne, Cloud9 CEO & Co-Founder. “At Fnatic we are dedicated to maximising performance and entertainment through technology and innovation. It is these shared values that make BMW the perfect partner as we seek to level-up every gamer on the planet. As a pioneer in the automotive space, with a history of advancing entertainment in competitive sport and working with the best talent and teams, we are thrilled to be working with BMW to build the future of esports and entertainment together.” Glen Calvert, Fnatic COO. The collaboration between BMW and the esports teams is very wide-ranging and goes far beyond mere sponsorship. Among other things, BMW shares the knowledge and expertise of its engineers and designers, to enable the development of hardware and software products that are perfectly tailored to gamers’ needs. EYE-CATCHING BMW MODELS USED AS FUTURE TEAM VEHICLES. The BMW commitment also includes the provision of official team vehicles. Among these, each organisation will have a team car featuring a custom livery with striking colours, combining motifs drawn in comic-book style with each organisation’s logo. These eye catching liveries form another element of this close partnership and were developed jointly by the teams and BMW. The vehicles thus become an instantly recognisable part of each team. They emphasise the teams’ strengths and lend themselves perfectly to high-profile appearances by the players and organisations – including spectacular images used in the course of #unitedinrivalry and #unitedathome activities RAKBUSINESS | 27

Entrepreneurs

Munira Abdulla

“Proceeding from a sincere desire, yearning for contribution to the development of human beings, and creating an inventive generation. Cognizant of today’s society and individual’s needs for capacity and development programs, along with the scientific and technological progress while keeping up with globalization, it was imperative to care about human evolution. Human evolution is the fundamental pillar in the development and growth of societies. Based on this, the idea of establishing the Innovation Center for Human Development came up to embrace

28 | RAKBUSINESS

the talented, distinguished, and everyone who wishes to develop himself and benefit from the hidden capabilities that almighty God has bestowed upon him, and harnessing them to serve humanity while putting his mark for future generations”. With these words, the educational and psychological counselor and trainer improved the ways of thinking and director of the Innovation Center for Human Development, Mrs. Munira Abdullah started her dialog with RAK Business magazine. She continued, “The idea of establishing the center

ENTREPRENEURS INSPIRATIONAL EXPERIENCES

MUNIRA ABDULLA...

TRAINING

ENHANCES POSITIVE EMPLOYEES’ ATTITUDE TOWARDS INSTITUTIONS Interview: Maryam Haji Mohammed

did not come on the spur of the moment; instead, it was a dream I had from an early age. Since ever my graduation from university with the Arabic language as a major, something was pushing me to self-development and continuous improvement. I was reading development books continuously to improve myself and learn about every new trend in this field. Although I could not find myself in teaching the Arabic language, I still taught for a few years. Nonetheless, I never abandoned my passion for learning the mysteries of the human soul and its secrets. Here where I started applying my self-development skills to my female students during the classroom. After that, I decided to give up teaching and move to the world of training. Hence, H.E. Mr. Ahmed Al-Bagham Al-Nuaimi, Director General of the Center, supported me in establishing the Innovation Center for Human Development in 2009. My master’s degree major was in psychology. I dedicated myself and time to studying everything related to the development and psychological and educational counseling. Thus, the inception of the Innovation Center for Human Development was the first center specialized in providing family and educational consultations and training courses in the Emirate.” So, human talent development is a priority for the Innovation Center for Human Development. How important is that? Since the center’s motto is “innovation and self-development,” it has become necessary to pay attention to individual talent development, especially that each of us has unexploited, unknown, or hidden talents. Based on our belief in that, we focused on devoting classes and programs concerned with discovering, refining, and developing talents from early childhood. A child is like a pure white page that is easy to be formed and directed. For that purpose, several innovative techniques are used to know the talent a child masters, and then develop this talent through practicing and practical application within workshops. That includes workshops such as plastic arts, skills of speaking

and writing stories, recycling and handicrafts, and many other human talent workshops. What are the center’s target group? The center targets all segments of society. Every individual in the community is essential and has a crucial role in building our beloved homeland; therefore, he is the focus of our attention. We concentrate on children, adolescents, women, and men. Each of them has a fundamental need to develop their capabilities and skills according to their interests and desires.

The Innovation Center for Human Development emphasizes self-development in all its programs and training courses, the center also stresses the creation of an educated and creative generation who is aware of its goals and plans his life confidently What are the programs offered to develop children’s skills? The center gives excellent attention to children as they are the future pillars of the nation. We offer summer programs covering skills and cognitive activities that vary depending on the child’s age. These programs aim to develop cognitive skills by providing multiple opportunities to solve problems, through which the child feels his need for information necessary to solve those problems. Thus, he seeks to obtain information and knowledge. We also organize workshops for developing a child’s imagination through imaginative play, in which imaginary situations are created, such as a child imagining himself a train driver, and much more. RAKBUSINESS | 29

ENTREPRENEURS INSPIRATIONAL EXPERIENCES

The yearly Orphan Children Program is one of the most critical annual programs the center provides as charity and community participation. This program includes a yearly summer program where orphan children are provided with all their needs and supported materially and morally. To that end, various applications and workshops are implemented, including handiworks, sewing, making accessories, and recycling. The Orphan Children Program also includes programs for developing childrenâ&#x20AC;&#x2122;s imagination and creativity, drawing and art workshops, and plans for improving thinking abilities, creativity, and innovation. What are the most prominent programs launched by the center since its inception? We launched many essential and unique programs, of which the most important is the coaching program and psychological and family counseling. I provide psychological and family sessions privately to solve problems of society members. The Innovation Center is considered the first center that receives cases inside the center by conducting very private sessions. There, problems are discussed and followed-up until the root problem is solved. Coaching is a recipient-coach participatory process, in which creative ideas are stimulated to enhance personal and professional potentials to the highest degrees. Maybe someone is wondering what benefits a person may get from coaching sessions and psychological counseling in his life! Well, a coach or a counseling psychologist can help you in many situations that you may encounter in your daily life. For example, if you feel lost and unhappy, coaching may help you identify and resolve the causes of your unhappiness. And if you think that you are stuck and do not know what the right thing to choose is, a coaching session may help you when making a crucial decision in your life. Theories do not frame the human self, and the way it is developing and upgrading vary from time to time. So what was suitable in the past may not suit our present time, how do you consider this matter in your work? Indeed, the human self is rapidly developing, and everything is changing quickly. Therefore, we must adapt to this change and keep growing according to the new requirements of every era. Today, traditional training is no longer the same as before in demand and ac30 | RAKBUSINESS

ceptability, and so, what is the most appropriate alternative to a new era of tremendous human development? We have to ride the wave of technological development and distance education. We should provide training programs with new technologies, such as distance education (online). We should choose advanced training programs commensurate with this time. Among these programs are future planning, software programming, and digital development. Also, new programs that benefit the future human intellect and mind development. The world of training is very significant and does not stop at a certain point. How necessary is training and self-development for human resources and business sector development? By training, we mean providing individuals with different job levels in institutions with new skills and knowledge, which helps them perform well in their professional and practical lives in the present and the future. The purpose of that is to achieve institutionsâ&#x20AC;&#x2122; goals and develop the business sector significantly in the specializations needed for each business field. The importance of training lies in helping employees to get rid of any behavior or conduct that leads to poor job performance. The training is carried out through precisely defined programs according to the intended objective of an institution. Knowing that institution management, Human Resources Department and personnel are responsible for training. Institution management must be concerned with conducting training for employees as part of investing in human resources tasks. In contrast, training to the Human Resourc-

es Department is a part of their mission of managing and developing employees. As for employees, successful practice is part of their responsibility towards any institution, where it is necessary to develop their skills and do their best. We can say that training in institutions or companies is essential because it contributes to enhancing productivity and organizational performance. Thus, providing workers with skills helps increasing efficiency of execution and reducing wasted time and material resources used in production. Training also leads to learning about the general policies of organizations and their objectives; therefore, employeesâ&#x20AC;&#x2122; performance is improved. Moreover, it contributes to creating positive trends among workers towards their institutions. What are the most prestigious courses and programs you provide for companies, private establishments, and government bodies? We offer many essential training courses and programs that meet the needs of both the government and private sectors and prepare and implement social, humanitarian, and educational training programs. The center also studies the training needs of individuals and institutions. Among the most valuable professional development programs are: * Human resource management. * Management and supervision. * Financial accounting. * Sales and marketing. * Customer service. * Human Development and job qualification. * Psychological field. * Social field. * Educational field.

ENTREPRENEURS LEGAL OPINION

READING IN FEDERAL DECREE-LAW ON FOREIGN DIRECT INVESTMENT (FDI) & THE CABINET RESOLUTION ON DETERMINING THE POSITIVE LIST On 30 October 2018, His Highness Sheikh Khalifa bin Zayed Al Nahyan issued the Federal Law by Decree No. (19) of 2018 Regarding Foreign Direct Investment (FDI Law). The FDI Law aims to provide exceptions to the provisions of Federal Law No. 2 of 2015 regarding commercial companies. It allows the foreign investor to establish a company in the State unrestricted by a national share percentage as stipulated in Article (10) of the aforementioned commercial companies law and within the sectors and economic activities determined by the Cabinet resolution.

CONSULTANT IHAB AL-KONI Judge and Legal Advisor, Department of Economic Development, Ras Al Khaimah

The FDI Law also aims to increase the flow of foreign direct investment in the priority sectors to achieve balanced and sustainable development and to secure high added values for the State’s economy. On 17 March 2020, the UAE Cabinet issued the Resolution No. 16 of 2020 on the determination of the ‘Positive List’ of economic sectors and activities eligible for foreign direct investment (FDI) and the percentage of ownership. This article deals with: 1- Essential features of Decree-Law No. 19/2018 on FDI in terms of the incentives and guarantees of an FDI project, the procedures for establishing an FDI project, and the concerned authorities set by the law. 2- Essential features of the Cabinet Resolution No. 16 of 2020 in terms of economic sectors and activities stated in the positive list, the ownership percentage allowed for a foreign investor, the essential conditions related to the project capital included in the positive list, and the obligations imposed on some sectors.

INCENTIVES AND GUARANTEES OF FOREIGN DIRECT INVESTMENT PROJECT: The Federal Law by Decree included a set of incentives and safeguards provided to the FDI project, as mentioned in articles (8-9). One of the most preeminent incentives granted to the FDI project is that FDI companies shall be treated as national companies to the extent permitted by legislation in force in the State. FDI companies shall be allowed to be established in the UAE mainland, not only in the free zones, even with no national share percentage. Thus, they shall enjoy the rights and protection provided by the applicable laws in the UAE mainland, including the Commercial Companies Law, the Commercial Register Law, the Labour Relations Law, the Trademarks Law, the Credit Information Law, and other relevant federal laws. An FDI company may carry out any actions needed for the project to ensure its success. These actions include adding a partner/ partners, transferring ownership to a new investor, amending the memorandum of association or articles of association, and changing the legal form within the limits of the authorized types of the FDI project. Besides, FDI companies shall conduct mergers or acquisition actions regulated by the Federal Companies Law - Chapter 7 (Articles 2&3). Among other incentives granted by the FDI, project decree-law is what was stipulated in Article 12, which permits the settlement of disputes that may arise from an FDI pro-

ject by all alternative means of settling disputes. Furthermore, cases relating to FDI projects shall be dealt with on an urgent basis by the State’s competent courts. The alternative means of dispute settlements other than courts, whether arbitration centers, mediation, conciliation, experts, or other means, must be included in agreements, memorandums of association, or contracts concluded between the project and other parties. These means are an option disputants resort to by agreement. Otherwise, a natural judge or the State’s ordinary courts are indispensable for settling a dispute if the alternative means are not stated in the agreement /contract. Concerning the guarantees, we consider that one of the most important items is that funds of an FDI project may not be seized, confiscated, frozen, restricted, or placed in receivership except according to a court judgment. It is a welcome trend that the legislator has made the confiscation of the FDI project funds subject to a court order, which has given the project more protection than what was stated in the State’s constitution. Article (39) of the UAE constitution stated that the private property might not be confiscated except by court judgment and in such cases, as may be stipulated in the law. Whereas in the FDI law, the project funds may not be confiscated unless after a court judgment only. This is a significant guarantee for investors that protects them from seizing the project funds by an administrative authority. PROCEDURES FOR ESTABLISHING AN FDI PROJECT: The FDI Decree-Law listed the conditions and procedures for licensing FDI projects in Article (10), and the Ministry of Economy issued the foreign investor manual, which is a practical guide to the requirements and procedures, as follows: The foreign investor shall apply for approval to license his FDI project to the competent authority in the local government, which is here Ras Al Khaimah Department of Economic Development under the provisions of Law No. 8 of 2016 regarding the regulation of economic activities in Ras Al Khaimah. To be continued... RAKBUSINESS | 31

5 PRIORITIES FOR BUSINESSES AND COMPANIES POST COVID-19 “OPEN DATA, PARTICIPATION, COOPERATION, AND INVOLVEMENT OF INDIVIDUALS”

Many economic and academic bodies and major consulting companies around the world from east to west - around the clock – are conducting studies and research on the economic and social impact of the Corona virus pandemic; in order to mitigate and limit its repercussions on the global economy and the business community. These studies included reviews of systems, procedures and strategies for project and business management, including reviews of previous studies and reports prepared by economic organizations for economic cooperation and development, such as (ESCWA) and other organizations in this field, noting that these studies take into account case studies and best practices in countries from different nationalities and economic level.

IMAD EDDINE OUBIRI BUSINESS DEVELOPMENT EXPERT

32 | RAKBUSINESS

Through this article, we will together identify 5 priorities of best business practices according to the most important recent studies of several economic agencies and major consulting firms, in order to anticipate the next stage, and be able to plan in a way that ensures business continuity, success and sustainability. It should be noted here that some of the distinctive studies that were recently published, including those belonging to an American consulting group called Boston Consulting Group, from which we have extracted 5 most important priorities for business and companies for post COVID-19, that may enable inference and guidance to prepare and be as ready as possible to adapt to the reality of the New World Economic Order. The economic impact on businesses and companies may vary depending on the business nature, scope, size, competitiveness, and market access. While some small companies may consider the

extent to which they may continue their activity and the potential risk of not being able to do so, large companies may consider how to restructure and enhance their capabilities and organization. In any case, there are very important developments imposed by the new reality on the business world that include everyone, and will affect the nature of companies’ work and future, no matter how large or infinitely small in size.

1 HEALTHCARE AND HEALTH PROTECTION FOR COMPANIES AND INSTITUTIONS: It is imperative that all companies and institutions take strict health measures and measures in order to improve hygiene and health protection in the workplace, which may appear at first sight to be temporary precautionary measures, but that the current situation will result in a new reality in which the institutions need to adopt a new health

ENTREPRENEURS SELF-DEVELOPMENT

system, It may require additional financial and human resources within its annual business plans and budgets.

2 WORK SYSTEM DEVELOPMENT Companies and institutions will have to restructure work systems and rearrange administrative procedures in line with the next stage, for example but not limited to: Forming new flexible work teams, permanently approving remote work for some of their departments and divisions as needed, and creating an Emergency Work Team, restructuring of institutional strategies, risk management, recruitment and replacement policies to enhance their organizational structure efficiency and institutional performance. 3 STRUCTURING HUMAN RESOURCES AND ADMINISTRATIVE METHODS Institutions and companies need at this stage to monitor, define and support the critical roles of their human resources, including framing specialized forces and considering rehabilitation and distribution of skills and job rotation according to a new organizational structure that is compatible with the next stage, as well as creating flexible and open leadership methods. This requires enabling skills, job retention, consideration of alternative employment and contingency planning. Also, managing the workforce flexibility is vital and requires analysis and study in order to adapt the workforce to the current situation and the next stage. 4 LEADING AND COMMUNICATING WITH TRANSPARENCY AND EMPATHY: Among the developments is the need to look forward to the future with a vision based on problem solving under a pioneering leadership characterized by emotional intelligence, transparency and flexibility. Also, the focus in business activities will be on the customer and employee at the same time, a relationship characterized by two-way digital interaction. 5 SPEEDING UP DIGITAL READINESS AND SMART WORK: All institutions at this stage should monitor and define their digital needs, consider strengthening their technological infrastructure and providing the required servers, computers, tools and programs, and work on training employees for digital readiness, building technology support work teams and training technicians, and permanently adopting remote work system for part of Its departments and divisions, and virtual meetings technology, which are now part of the emerging adopted work systems

BOOKS OF SELF-DEVELOPMENT FOR YOUR BEST

CREATE YOUR OWN FUTURE - BY BRIAN TRACY Create Your Own Future is a powerful book on self-empowerment that offers a wealth of ideas readers can apply immediately to take complete control of their personal and work lives. Intended for anyone who wants to make more money and get more satisfaction from life, the book offers twelve principles for success and real-world action plans that help you reach your goals. Author Brian Tracy is one of the most renowned and successful self-help authors and speakers in the world; Create Your Own Future presents all his accumulated experience in making success happen for others. Now, it can make success happen for you. 611 WAYS TO BOOST YOUR SELF-ESTEEM - BY JAMIE MCCULLERS AND BRYAN E. ROBINSON What makes things popular? If you said advertising, think again. People don’t listen to advertisements, they listen to their peers. But why do people talk about certain products and ideas more than others? Why are some stories and rumors more infectious? And what makes online content go viral? Wharton marketing professor Jonah Berger has spent the last decade answering these questions. He’s studied why New York Times articles make the paper’s own Most E-mailed list, why products get word of mouth, and how social influence shapes everything from the cars we buy to the clothes we wear to the names we give our children. BE CREATIVE (ESSENTIAL STEPS) - BY GUY CLAXTON Being creative is a state of mind. Techniques may help though some, like brainstorming, can, surprisingly, do more harm than good. And the climate at work and play matters too. But essentially, creativity is an attitude. We either meet life’s challenges with a spirit of adventure or we keep trying to make it fit old habits that don’t work any more. Accountants and receptionists need creativity as much as designers and song-writers. In uncertain times, we all need to be able to come up with fresh ideas, to sort out the good ones, and make them work. THE POWER OF YOUR SUBCONSCIOUS MIND - BY JOSEPH MURPHY Dr. Joseph Murphy asserts that life events are actually the result of the workings of your conscious and subconscious minds. He suggests practical techniques through which one can change one’s destiny, principally by focusing and redirecting this miraculous energy. Years of research studying the world’s major religions convinced him that some great Power lay behind all spiritual life and that this power is within each of us. RAKBUSINESS | 33

THE 3AS

ACT, ANALYSE, ANTICIPATE

The COVID-19 crisis has caused a systemic shock to the global economy. There is even talk of a ‘Pre-COVID-19’ and ‘Post-COVID-19’ world. ACCA’s global research Covid-19 global survey: inside business, impacts and responses data looks at the impact of COVID-19 so far on organisations and the global business community and it’s clear from the findings that this is only the start of the story. Over the coming weeks and months different regions of the world, countries, businesses and organisations in all sectors will seek to navigate a way through the crisis, using different strategies and interventions to respond to the crisis in what will be a continuously and fast-changing situation. ACCA’s report provides advice for organisations in how to respond based on the ‘3As’. 34 | RAKBUSINESS

ACT AND RESPOND IN A SUSTAINABLE MANNER 1. Think ‘people first’: Pay attention to the physical and mental health of employees and develop appropriate plans for the resumption of work. Put in place a communications plan that will engage and update employees regularly and human resources policies that address crisis measures. 2. Accept the short-term focus and demonstrate true leadership: Timelines and targets will need to be refocused on near and mid-term horizons. Senior leaders in organisations need to accept a change of focus from strategic to tactical. 3. Recognise the needs of your customers and other stakeholders: Make sure you do not miss the opportunity to respond to those changing needs. Understand the impact on your supply chains, and wider relationships with stakeholders and partners. 4. Use a crisis-management team with communications skills and establish a resilience plan: Oversee major issues,

formulate business contingency plans, coordinate and align implementation across different departments, and ensure speedy responses and decision-making. Initiate resilience planning to ensure activities across the organisation are connected in response to an event and broader business integrity is protected. ANALYSE THE DIFFERENT INFORMATION SOURCES TO SECURE YOUR ORGANISATION 5. Model scenarios and plan for resumption: In a crisis such as COVID-19, organisational scenarios are not constant and require regular review. It is important to understand how using analytical capabilities to assess both external and internal data can put the organisation in a stronger position and help it understand the operational and financial impact of different scenarios that may arise. Information insight is also critically important for business resumption planning, which aims to get the organisation back up and running properly, planned in manageable phases. This requires analysis of the resources and assets that the organisation

ENTREPRENEURS SKILLS AND TALENTS

APPS CAN MAE YOUR LIFE EASIER

In the event that you want to get rid of a bad habit or gain a new beneficial habit, these applications can change your life for the better.

WAY OF LIFE ... That tool; a beautiful, intuitive habit tracker that motivates you to build a better, stronger, and healthier you! As you collect more and more information, you will be able to spot positive and negative trends in your lifestyle easily,or whatever is essential to you. There are no restrictions on what this App. can help you with when it comes to changing habits.

needs to safeguard in order to be able to resume. 6. Review government and fiscal policies that may be of benefit: Monitor the relief measures and policies introduced by the government and seek to use the benefits fully. Take a lead role and communicate the needs of your industry (leveraging on data insights) to relevant government agencies for appropriate policy formulation, refinement or implementation. 7. Remember: ‘Liquidity is the lifeblood’. Organisations should review their lines of credit and renegotiate their debt financing obligations. Payment periods, for example, may well be extended in the immediate term as businesses recover. Strong focus on cash management and liquidity should be in place to bridge different business scenarios, accepting that recovery to full liquidity is likely to be a long process. ANTICIPATE THE BUSINESS IMPACTS AND FUTURE TRENDS 8. Look for opportunities to innovate. Organisations should consider oppor-

tunities for short or medium-term innovation: This could involve product and service development or thinking innovatively about partnerships. It could mean ensuring that employees have new opportunities for producing innovative ideas or looking again at how the organisation is deploying digital and technological innovations. 9. Review company strategies. Re-examine business models: Explore new channels to market, supply-chain diversification, new approaches to customer services, and opportunities to grow. 10. Don’t forget: fundamental business risks remain: Don’t lose sight of the fundamentals. Even in the face of COVID-19, the organisation will still face not only existing risks (e.g. cybersecurity), but also different ways of working, and strategic reactions to COVID-19 could change these risks or introduce new ones. ACCA’s global research with over 10,000 finance professionals identifies a wide range of financial challenges facing organisations of all sizes and across all sectors

COACH.ME ..The Lift app is designed to facilitate the formation of desired habits. By harnessing the power of habits, human potential can be attained. On Lift, popular habits among its users include Floss, Sleep by Midnight, Run, Eat Breakfast, and Meditate.

BALANCED BALANCED... is designed to encourage you to do all the things you want to do, but can’t always find time for. Whether that’s listening to music, reading a book, playing video games, cooking something new or anything else you think you’d like to do. Simply put, Balanced is there to help you find time for you.

HABITBULL ... Whether you want to read some more, stop smoking, start working out or even just track how many hours you wasted on Facebook, this app lets you do it! HabitBull helps you organize your life and preset goals that you can add.

RAKBUSINESS | 35

TECHNOLOGY

Nidal Abou Zaki, Managing Director, Orient Planet Group

FACEBOOK LAUNCHES SHOPS TO BRING MORE BUSINESSES ONLIN

‫ـــــــــ‬

Facebook is making a major new push into e-commerce. The company today announced the launch of Shops, a way for businesses to set up free storefronts on Facebook and Instagram. The shops, which will be powered by third-party services, including Shopify, BigCommerce, and Woo, are designed to turn the social network into a top-tier shopping destination. In a live stream, CEO Mark Zuckerberg said expanded e-commerce would be important to begin rebuilding the economy while the pandemic continues. “If you can’t physically open your store or restaurant, you can still take orders online and ship them to people,” he said. 36 | RAKBUSINESS

“We’re seeing a lot of small businesses that never had online businesses get online for the first time.” The launch of Shops comes as stay-at-home orders related to the COVID-19 pandemic have led to record sales for e-commerce companies. The pandemic has also been devastating for small businesses, with a third of them reporting that they have stopped operating in a survey conducted by Facebook and the Small Business Roundtable. An additional 11 percent say they could fail within the next three months if the current situation continues.” While Shops are free to create, they could create significant new business opportunities for Facebook in ad-

TECHNOLOGY STUDIES

A major new push into e-commerce will bring an Instagram shopping tab, shoppable live streams, and more vertising, payments, and other services. Businesses will be able to buy ads for their Shops, and when people use Facebook’s checkout option, it charges them a fee. Zuckerberg said Shops will improve on the standard web commerce experience by storing users’ payment credentials in a single place that they can then use on any Facebook or Instagram storefront. There are currently more than 160 million small businesses using the company’s apps. Shops can be found on businesses’ Facebook pages and Instagram profiles, and they can also appear in stories or be promoted in ads. Items that businesses have made available for purchase will appear within the shop, and users can either save items or place an order. (Some businesses enable users to make purchases directly on Facebook, while others will take you to the business’s website to complete the transaction.) Businesses can handle customer support issues through Messenger, Instagram, and WhatsApp. Eventually, the company plans to let you browse store catalogs and make purchases directly from the chat window. It also plans to enable shopping from live streams, allowing brands and creators to tag items from their Facebook catalogs so that they appear on the bottom of live videos. Facebook is also working to integrate loyalty programs with shops. “You’ll be able to easily see and keep track of your points and rewards,” the company said in a blog post. “And we’re exploring ways to help small businesses create, manage and surface a loyalty program on Facebook Shops. Shops will begin rolling out on Facebook today in the United States and are coming to Instagram sometime this summer. Instagram will showcase brands on its existing shop account, which already highlights items that are available for purchase. Later in the year, it plans to add a dedicated shopping tab to its navigation bar

MIDDLE EAST MOBILE GAMING INDUSTRY GROWING AT 25% Consumers’ attention across the globe has turned from outward spaces to the internal spaces of the home, as we all start operating our daily lives within four walls and within the confines of technology – such as our work, communication with others, etc. But what we are looking for has also changed. While social-networking sites are reporting massive spikes in use due to social isolation, the vast majority of that growth is less from users scrolling through feeds. Instead, people are leveraging messaging services such as Messenger and WhatsApp. It’s clear that direct communication with friends and family members is essential and the need for access to digital services like email and internet is crucial nowadays with Zoom and BOTIM trending for voice and video calling. Etisalat offers free internet voice and video calling facility to both existing and new customers to stay in touch with their loved ones during these challenging times. Streaming video overall is also up (20%), demonstrating our need for entertainment at this time. The gaming industry in the Middle East is growing at a rate of 25% each year! According to the Newzoo’s 2019 Global Games Market Report we see that the Middle East region is the home of the world’s most active gaming community. The fastest growing online gaming population in the world is again in the Middle East, with a growth rate of 25% compared to Latin America (13.9%), Asia Pacific (9.2%), North America (4%) and Western Europe (4.8%). The Middle East gaming market is set to triple in size to $4.4 billion by 2022, with gaming revenues in the GCC alone

“Mobile games have always been popular in Middle East and we represent 23% of the total global games market – and games overall have grown faster year over year than the global average.” standing at $1.05 billion in 2016. This is due mostly to the popularity of social gaming, casual games and free-toplay role-playing games – the very types of games that consumers are turning to now, to not only release stress but to connect with other people online. And they’re doing it daily: Nearly half (47%) of respondents are now playing mobile games on their smartphone every day. Some are sticking with the tried-and-true: 31% of respondents are playing mobile games that they already enjoy, just more often. But there are plenty that are branching out and downloading new ones: 32% of mobile users surveyed are playing new games on their phones.

As we shift into a new world, the mobile gaming channel is only going to increase in importance. When we look at the mobile game downloads and the daily average time spent on mobile gaming per user in Middle East, we see that mobile game downloads shot up 28% and the daily average time spent on mobile gaming per user increased by 24% from February 24th 2020 according to AdColony Inventory RAKBUSINESS | 37

Mall of the Emirates is bringing Spring Summer Trends straight to shoppers’ doorsteps Trends At Your Doorstep, will provide residents in Dubai with a seamless online shopping experience. Customers can now for the first time ever peruse the latest Spring Summer 2020 collections from the comfort of their homes and reserve their favourite picks for delivery. With close support from Majid Al Futtaim, select brands from Mall of the Emirates can transfer their rich variety of items online for shoppers to discover through a virtual shopping experience and an online catalogue found on the mall’s website. Once shoppers have browsed the products and made their choice, the brands will deliver directly to customers’ doorsteps. The service will be available for addresses in Dubai, and all deliveries will be made complimentary and contactless to preserve the health and safety of shoppers.

TECNO unveils CAMON 15 Pro via online launch

Mai Dubai unveils UAE’s first Zero-Sodium Alkaline water Mai Dubai, a bottled water company fully owned by the Dubai Electricity and Water Authority (DEWA), has announced the launch of ‘Mai Dubai Zero-Sodium Alkaline Water,’ which combines Zero Sodium with Alkaline. The launch complements the company’s mission for growth by exceeding customer expectations and providing high quality products and services in an innovative, safe, efficient and environmentally responsible manner. The new Zero-Sodium Alkaline water has no sodium additives and has an alkalinity of up to pH8.2. The new 3-1 (three-in-one) product was internally developed and is produced at the Mai Dubai Factory in Al Qudra, Dubai. This highly automated industrial facility is known for having the second-largest solar roof installation in the world and runs on solar energy reducing carbon emissions with 10,000MTs annually. 38 | RAKBUSINESS

Global premier mobile phone brand TECNO Mobile unveiled a new smartphone: the CAMON 15 series to its global audience in its first online product launch in the United Arab Emirates (UAE) since the Covid-19 lockdown took effect. As expected, the new CAMON 15 series did not disappoint. Staying true to its tradition, the new smartphone comes equipped with a 48MP SONY camera and trademarked TAIVOS™ technology, which enables up to 15-frame synth with an imaging time of just 4.68 seconds. “As a pioneer in the smartphone industry, TECNO Mobile is committed to bringing the latest cutting-edge technology smartphone to its global users, and exploring innovative approaches and channels to support consumers discovering its products for the first time. The first online product launch is a new breakthrough that TECNO brings to its fans globally: a real-time hands-on experience and DEMO of what they can achieve with a smartphone camera, powerful imaging hardware, and a device designed to deliver unprecedented performance for mobile photography fans,” said Stephen Ha, General Manager of TECNO.

TECHNOLOGY COMPANIES

Peugeot UAE launches valet test drive and service programs allowing customers to stay home As part of its customer-centric approach and desire to provide a stress-free way to enjoy their models, PEUGEOT showrooms across the UAE have taken measures to protect customers and employees alike, starting valet test drive and remote maintenance services. The program aims to bring a whole new experience to For customers in Dubai and the Northern Emirates, the new approach extends into the Valet Service Program, where they can go on the dedicated website uae.peugeot. com/services/valet-service and have their PEUGEOT cars serviced from the safety and comfort of their own home. The car is then simply picked up and the service advisor speaks to the customer about the time and cost of service. After the service is completed the car is delivered back to the customer having been fully sanitised.

Al Ghandi introduces Stay At Home service Al Ghandi Auto, the sole retailer for Cadillac in United Arab Emirates and GMC and Chevrolet dealer for Dubai and the Northern Emirates, has launched its Stay At Home courtesy service in a bid to curb social interaction and limit the spread of COVID-19. The process for the service begins when Al Ghandi Auto support team contacts eligible customers to have their service booked. Customers can also call in advance and proactively schedule their bookings. The car will then be picked up via flat-bed truck and taken to the nearest Al Ghandi Auto service center. After coordinating the time of delivery with the customer, the car is dropped off after being thoroughly sanitized as a precautionary measure.

Al Masaood Automobiles introduces new Auto Leasing solutions Al Masaood Automobiles, an icon of the UAE’s automotive sector and the authorized distributor of Nissan, INFINITI and Renault in Abu Dhabi, Al Ain and the Western region, has revealed the launch of Al Masaood Auto Leasing, a new service solution aimed at providing personalized leasing solutions that have been specifically designed and developed to meet customer’s needs. The availability of this new financing scheme demonstrates the company’s continuing commitment towards offering world-class services and products to ensure excellent and quality customer experience. Irfan Tansel, CEO, Al Masaood Automobiles, said: “We offer our loyal customers the option to drive the latest vehicles at an affordable price. The new solution falls in line with our commitment to offer customers with strategic and excellent products and solutions and deliver top quality customer experiences. This solution has been developed with the aim of giving customers total peace of mind, which complements our positive outlook that the leasing business will continue to grow substantially in the long term.” Al Masaood Auto Leasing offers auto solutions to both retail and corporate customers according to the highest standards. Customers who are interested in driving Nissan, INFINITI, and Renault vehicles can access two leasing options with attractive monthly payments. RAKBUSINESS | 39

TOURISM

Ras Al Khaimah opment Authori unveils several tives aimed at to

Danielle Curtis, Exhibition Director ME, Arabian Travel Market 2020

Ras Al Khaimah Tourism Development Authority unveils several support initiatives aimed at tourism industry In a move that further reflects the emirate’s ‘ONE RAK’ commitment to transparency, ease of doing business and global community spirit, the tourism authority has sent all business partners and stakeholders a comprehensive contingency plan, which maps out short- to mid-term solutions to mitigate the negative impact of coronavirus on travel to Ras Al Khaimah. Addressing partners and stakeholders via a virtual meeting on April 1st, CEO Raki Phillips highlight40 | RAKBUSINESS

ed that the hospitality industry was facing a grave threat from the coronavirus crisis. The UNWTO estimates losses from international visitor spends to be between USD $30-50 billion globally, while The World Travel and Tourism Council have found up to 50 million jobs have been put at risk. RAKTDA’s prompt robust response sees the creation of an internal Stimulus Committee and Steering Stimulus Committee representing the Emirate. Led by Raki Phillips and top executives across the hos-

TOURISM NEWS

In a move that reflects RAK commitment to transparency and encouraging business under the ONE RAK slogan, RAKTDA has provided short to medium term solutions to mitigate the negative impact of the Coronavirus on tourism in the Emirate of Ras Al Khaimah pitality, leisure and development sectors, specific measures include a six-month waiver of all touristic licenses; waiver of tourism dirhams from March to May; a complete exemption of tourism licensing fees for Q2 and Q3 and tourism licensing fines until September 30th. This support will be further enhanced by a dedicated Financial Incentive Package aimed towards non-government owned touristic entities, including budget, midscale and 4-star hotels as well as attractions, golf courses and other tourism establishments. In addition to this, hospitality partners will be able to benefit from complimentary participation in a diverse array of exhibitions and roadshows set to take place in 2020 and 2021 within the Emirate and abroad. RAKTDA’s move complements 17 government initiatives (10 for individuals and seven for SMEs) announced by the Ministry of Economy, in addition to support by local developers, which includes three- month rental relief for residents and corporations, as well as deferral of fees. Alongside the tourism initiatives, RAKTDA is focusing on tourism development and boosting the international presence of the Emirate through a suite of destination marketing strategies and reinforced promotion of the established MICE facilities, to revive the travel sector. Its four-step road to recovery places initial focus on the domestic market, followed by the GCC and wider Middle East, to then be extended to Asia and Europe. Other promotional tools include a planned UAE “Shortcation” Campaign, whereby guests staying three nights at Ras Al Khaimah hotels will receive two free tickets to attractions spanning the Jais Adventure Peak and the Suwaidi Peal Farm. Further elevating the offering is the return of the “Kids Go Free” promotion across hospitality and dining sectors, to encourage families to travel together, once the restrictions are lifted

h Tourism Develity l support initiaourism industry

RAKTDA Joins forces with the emirate’s public service department to launch the rak ‘stay safe’ hotel certification Deemed as the RAK ‘Stay Safe’ Hotel Certification, the effort aims to boost confidence and rebuild trust in the destination’s tourism once the necessary travel restrictions are lifted. Measures will include a full sterilization programme, conducted alongside the PSD, currently implementing the National Sterilization Program in the Emirate, as well as training on appropriate guest interactions, employee engagement, elevated property hygiene standards, and operational procedures to be actioned in the recovery phase. “ ‘Stay Safe RAK’ campaign, requiring hotels to fulfil a set of measures to attain the RAK ‘Stay Safe’ Hotel Certification’. Achievement of the certification will result in the hotels being endorsed by the relevant authorities, thereby supporting the public’s confidence in their offerings”, shared Raki Phillips, CEO of Ras Al Khaimah Tourism Development Authority. “Though we are facing unprecedented times, the travel industry is resilient, and I have no doubt that if we all work together and focus on recovery, it will come back stronger” he added. Hotels in the Emirate are already planning ahead, ensuring action is underway and documented, to clean and sanitize properties in accordance with the best practices shared by the UAE Ministry of Health and Prevention. Currently the health, safety and wellbeing of guests as well as the Emirate’s hospitality teams remains a priority. Ras Al Khaimah Tourism Development Authority maintains constant dialogue with hotel partners to ensure the highest levels of hygiene are adhered to, whilst complying with the social distancing advisories from the World Health Organization (WHO), the Centers for Disease Control and Prevention (CDC), and the UAE federal authorities. The Authority’s four-step road to recovery places initial focus on the domestic market, followed by the GCC and wider Middle East, to then be extended to Asia and Europe. The first phase of recovery will see the launch of the UAE ‘Shortcation’ Campaign, offering guests staying three nights at Ras Al Khaimah hotels, two complementary passes to attractions such as the Jais Adventure Peak and the Suwaidi Peal Farm. This will be introduced when the necessary travel restrictions are lifted and the federal authorities deem travel safe to proceed and will run in addition to the ‘Kids Go Free’ promotion across hospitality and dining sectors. These efforts alongside the RAK ‘Stay Safe’ Hotel Certification, aim to reinforce the destination’s appeal and highlight the precautions taken, once travel can be facilitated. RAKBUSINESS | 41

UAE participates in extraordinary meeting of tourism ministers of G20 countries His Excellency Sultan bin Saeed Al Mansouri, Minister of Economy, participated in the extraordinary meeting of tourism ministers of the Group of Twenty, to discuss the latest developments of the current crisis and its implications for the tourism sector, and ways to support the sector, through coordinating international efforts and discussing ways to reduce the burden on investors and protect travelers and workers in the sector, and ensure an increase Sector readiness and sustainability in the face of future crises. The remote meeting was held under the chairmanship of His Excellency Ahmed Al-Khatib, Minister of Tourism from the Kingdom of Saudi Arabia, and the representative of the Kingdom of Saudi Arabia â&#x20AC;&#x201C; the country of the presidency and the host of the G20 meetings for the year 2020, in the presence of tourism ministers and sector representatives from the countries of the Group of Twenty, and representatives of international organizations including the World Tourism Organization and the Tourism Council Global Travel and OECD. His Excellency Sultan bin Saeed Al Mansouri affirmed, in his intervention, that the tourism sector is one of the most vital sectors in the country, with a 42 | RAKBUSINESS

total contribution of about 11.9% of the gross domestic product, and that it contributes to providing about 745 thousand jobs, according to the data of the World Travel Tourism Board For the year 2019. He also stressed that tourism is one of the flexible sectors that recover quickly from crises, which we saw in previous global crises, and we will also see it in the current crisis, and although the sector is one of the sectors most affected by the global health implications, we believe that it will be one of the first Sectors that will recover after the crisis, and will play an important role in supporting the national economy. His Excellency called on the ministers to attend the importance of remembering the achievements and contributions made by the tourism sector to our countries, as it is the sector that supports national companies and local communities around the world and helps governments in creating a better life for their citizens and creating jobs for millions around the world, as tourism is one of the most vital tributaries of the national economies of different Countries of the world. His Excellency said that since the beginning of the current crisis, the UAE has taken many measures

TOURISM MY DESTINATION

and measures to reduce its effects, and the country is working around the clock to mitigate the repercussions of this crisis socially and economically, through a team at the national level to manage crises to confront the spread of the virus and support our health infrastructure, and the application of measures Wide precaution, building specialized test centers within a short days, which increased the number of tests and increased the rate of early detection of cases. He pointed out that the state, in order to mitigate the economic impact of the crisis, presented comprehensive and multiple stimulus programs at the federal and local levels, where the central bank announced a comprehensive package of economic incentives worth 283 billion dirhams, in addition to that, the local UAE governments provided incentive packages and initiatives to support their economies These included reducing the cost of doing business, reducing the cost of licenses, and reducing the reduction of electricity and water bills and hotel tourism fees, as well as supporting small and medium-sized companies. His Excellency stressed that the most important priorities at the present time are the security and safety of the resident citizens and visitors and the continuity of the work of the tourism sector and the preservation of workers in the sector, and for this the country welcomes cooperation and coordination with all countries of the world and international organizations, es-

Despite the tourism sector is one of the most affected sectors by the current crisis, it is one of the flexible sectors that recover quickly, which we saw in previous global crises and we will also see it in the current crisis

pecially the World Tourism Organization to address the repercussions of the current crisis. Al-Mansouri said that while governments around the world are intensifying their efforts to tackle the emerging Corona virus â&#x20AC;&#x153;Covid-19â&#x20AC;? in an attempt to reduce its negative effects on their people and economies, the need for international cooperation is today more urgent and more necessary than ever RAKBUSINESS | 43