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BUSINESS INTELLIGENCE FOR INTERNATIONAL TRADE www.tradeandexportme.com
Contents
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58 ADVISORY BOARD Key personalities sharing their expertise to ensure that we bring you the latest trends and issues in the field of trade. Hospitality & tourism 60 Expo 2020 - what does it hold for SMEs? We examine how the Expo 2020 has supercharged the Dubai economy and why this is only just the start… 62 When #InAbuDhabi, tell your story Associate Editor Zenifer Khaleel explains the way that the hashtag is becoming a core tool in one of the region’s biggest public sector promotions. Trade & growth 64 THE bottom line A spotlight on Dubai Silicon Oasis’ journey to success as the leading free
According to the Dubai Economic Department (DED) SMEs hope to generate a windfall of AED 90 billion from Expo 2020 p60
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zone dedicated to the development of technology in the UAE. VIP interview 68 Onwards and upwards! Trade and Export Middle East caught up with Rt. Hon. Arlene Foster, Minister for Enterprise, Trade and Investment, Northern Ireland, to discuss the key role that Northern Ireland plays in progressing the thriving UK-UAE relationship. Strategy 72 Innovation – The Apple Way Dr. Ashraf Mahate, underlines the success of the world’s leading innovator – Apple Inc. – and discusses how SMEs can learn from this worldclass entity. Event review 76 ARE YOU FOLLOWING THE ROADMAP? We bring you the coverage of the
The importance of creativity and innovation in generating and ensuring a competitive advantage has meant that many companies have sought ways of increasing these two aspects within their organisations. p72
most practical and provocative SME event of the year, which brought together key SME Champions – Roadmap for Growth. 80 Recipe for success A snapshot of the 2014 cycle of the Dubai World Hospitality Championship. 81 Empowering change: 10th World Islamic Economic Forum Exclusive insights on the role of the Islamic banking sector in improving stability across the Muslim world. 82 In the spotlight: Women in Leadership Economic Forum We bring you the highlights of this thought-provoking event that underlines the changing role of women in the global economy.
TRADE and export middle east
ADVISORY BOARD Trade and Export Middle East presents a dynamic group of industry experts and leaders as part of its Advisory Board. The following key personalities will help add value to our analysis and ensure that we bring you the latest trends and issues in the field of trade.
H.E Saed Al Awadi CEO, Dubai Exports, Department of Economic Development, Dubai
Dr. Adeeb AlAfeefi Director, Foreign Trade & Export Support International Economic Relations Sector, Department of Economic Development, Abu Dhabi
Khalil Saqer Bin Gharib Corporate Communications Director, Dubai Customs
Lakshmanan Sankaran Chairman, Regional Banking Commission (MENA)- ICC Paris
Moin Anwar Trade & Investment Commissioner (Middle East), New South Wales Government, Australia
Peter Fort CEO, Ras Al Khaimah Free Trade Zone
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HOSPITALITY & TOURISM
Expo 2020
what does it hold for SMEs?
The hugely significant Expo 2020 win can be a major catalyst for the SME sector, especially via the role of public/private partnerships. Yet businesses have to be smart to see where the opportunities really lie and shrewd enough to put them to good use. We examine how Expo 2020 has supercharged the Dubai economy - and why this is only just the start…
John Martin St. Valery, Founding Partner, The Links Group
Mark Gillings, Vice President – Hotels and Leisure, SFC Group
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Last November, Dubai made another glorious stride in the global economic field by winning the bid to host the Expo 2020. This victory meant that it was the first time that a World Expo would be hosted in the Middle East, North Africa and South Asia (MENASA). It is also touted to be the first Expo in which the majority of visitors stream in from international spots, making it the most inclusive international event in World Expo history. The underlying objective of Expo 2020 is the power of partnership and collaboration in pioneering new paths of development and innovation. This is reflected by the strategic public and private sector partnerships that will be built during the planning and delivery of the event. The innovative site design and the tangible solutions that Expo 2020 Dubai will deliver is based around themes of mobility, sustainability and opportunity. According to the Dubai Economic Department (DED) SMEs hope to generate a windfall of AED 90 billion windfall from Expo 2020. Dubai expects a 10 per cent growth in visitor numbers every year, mounting to 20 million by 2020. 95 per cent of the total enterprises in the state is comprised of SMEs and they contributes 42 per cent of the total workforce and 62 per cent of the GDP. Following the world economic crisis, the Expo 2020 is the perfect platform for SMEs to expand, be more creative and improve their business. They have a vital role to play in ensuring that the event is a resounding success. As SMEs and entrepreneurs across the UAE look to take advantage of this opportunity by starting, growing and diversifying their businesses; the challenge to stay ahead of the competition is more aggressive than ever. Partnership is the key to Dubai’s successful business environment. Enhancing the ties between the public and private sectors will support the business community at large and improve the emirate’s competitiveness. As a young country, the UAE is currently undergoing rapid expansion and the
government has made a number of very good public commitments to strengthen the country’s various sectors. A mutual partnership with the private sector will strengthen and speed up the fulfillment of these stellar commitments. The power of Public Private Partnerships (PPP) The UAE investment environment has improved significantly after the Expo 2020 win. An estimated USD 8.8 billion will be spent on developing the infrastructure and facilities necessary for this event. This creates enormous opportunities for SMEs, particularly those operating in the construction, transport, tourism and hospitality sectors. Consulting firms will also bring much needed expertise to the planning, building and management of Expo 2020. SMEs with these capabilities may do well by tending for such government contracts through a consortium bid. Beyond supporting the event build, SMEs also stand to benefit from boost in tourist arrivals such as increased retail sales or F&B trade. “Public-Private Partnerships (PPP) not only have the potential to develop SMEs, but if structured correctly they can also help stimulate economic
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economic growth. Opportunities give birth to SMEs. So by creating these opportunities through the PPP model, enterprises can contribute much more to the GDP of the country.”
growth in the UAE,” says John Martin St. Valery, Founding Partner, The Links Group. “The UAE government recognises the value of SMEs, which currently contribute 60 per cent to non-oil GDP and 86 per cent to private sector employment; and the importance of unlocking this potential. The recently passed regulation that 10 per cent of government contracts be awarded to SMEs reinforces this commitment. With the UAE being rated as the world’s second most small businessfriendly government we expect to see more initiatives to foster public private partnerships between SMEs.” “For the UAE to remain a globally competitive nation against other leading economies around the world, the government must continue to drive public/private sector liaison and help to promote and grow business activities within the country,” says Mark Gillings, Vice President – Hotels and Leisure of the SFC Group. “SMEs are the engine of growth in this prosperous and thriving economy and will play a very important role in creating future economic growth for the UAE. So creating an apt ecosystem for SMEs to develop is very important. Also having PPP in the SME sector will give extra mileage for
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Cashing in on opportunity The majority of the new mega-projects initiated at the wake of Expo 2020 will be from large-scale developers such as Meraas, Emaar, Nakheel, Dubai Properties and Damac. Some of the major infrastructure projects expected over the next few years include the expansion of the Dubai Metro Red line; new concourses at the Maktoum International Airport; interchanges on the Sheikh Mohammed bin Zayed road; and the construction of the main Expo 2020 centre. Emaar is also developing an integrated urban centre and golf destination in a prime location at Dubai World Central which will be the home to Expo 2020. The sheer magnitude of these projects has unleashed a veritable goldmine for SMEs. Expo 2020 is expected to produce 300,000 direct new jobs and it is estimated that one million indirect opportunities will also be created. SMEs can capitalise on this opportunity by • Strengthening and building existing relationships with clients/customers • Developing competitive advantages • Emphasising on business development • Being price and brand competitive • Ensuring your company has the required strengths and resources. While small business owners are eagerly looking forward to the Expo 2020 they are aware that event will throw up challenges as well. Even with the positive surge of Expo 2020, availability of funding for the SME community remains a challenge. According to the latest industry figures, SMEs represent almost 95 per cent of the UAE’s total registered companies, yet receive only three per cent of the total loans given by banks. The UAE’s prominent banks currently charge high rates for SME loans, perceiving them as a risk. This is a
region-wide problem, with little respite expected without greater transparency and accessibility to financial information. Another challenge faced by SMEs is scaling their operations to reach up to more competent players in the market and keeping pace with them. Big developers don’t look at SMEs to deliver in terms of quality and reliability. SMEs will have to be clear on their goals to achieve, focus on quality, and update according to the demands. Along with every opportunity, comes fresh competitive challenges, new markets and the requirement for every SME to raise its game to everhigher standards. Achieving a mutually beneficial agreement through the PPP interface can solve these challenges - to an extent. PPP initiatives will help to showcase the best in the eyes of the world and which in turn will improve the economic atmosphere of the whole region. “SMEs in diverse industries and activities such as contracting, hospitality, travel, wholesale, retail, logistics & transport, F&B and related services will share the benefits of Expo 2020. It is a golden opportunity which allows SMEs to expand their consumer base from a local platform to an international one. PPP enabled SME initiatives here will get a chance to display themselves and mark their foothold in the global arena.” Says Gillings “As the expected audience for the Expo 2020 is around 25 million people, the Expo can bring in a significant impact on the Food and Beverage Industry. The major economic growth is also expected to roll in from this area. So more thrust at a PPP level can boost the economic growth of the country and the region.”
For an online version, please visit: www.tradeandexportme.com/2014/11/expo2020-what-does-it-hold-for-smes/
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When #InAbuDhabi, tell your story Is your business going to be part of the latest initiative to come from the capital? Associate Editor Zenifer Khaleel explains the way that the hashtag is becoming a core tool in one of the region’s biggest public sector promotions. hashtag means that real-time, authentic social content posted by visitors and residents will highlight Abu Dhabi’s attractions and experiences and inspire others to plan their vacations in this happening destination. The authorities are aiming for the new scheme to be implemented for emirate-wide public and private sector use. Abu Dhabi is a city which has been growing at a steadier pace than its ‘cooler’ cousin Dubai. Over the turn of the decade, it has shaped its infrastructure and resources to become one of the most important venues for business and global events; which has attracted more visitors and tourists as well. Industry experts claim that the tourism sector in Abu Dhabi is expected to achieve around 15 per cent growth during 2014 to attract an average of 3.2 million tourists. In order to cash in on the popularity of the social media, Abu Dhabi has implemented a new destination hashtag - #InAbuDhabi – which is an initiative to encourage visitors and residents to share their experiences of the emirate through social media channels. Launched this October by Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi), the unique
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Why hashtag? Hash tags are becoming more mainstream on social media, but not everybody knows why they matter. The hashtagged word or phrase acts as the keyword in the content, which is searchable, and allows the phrase to become part of a larger conversation with a larger audience. Developing a hashtag strategy is an important part of social media success. Just as with other aspects of social media marketing, this must be done correctly to avoid damaging the reputation of the organisation or causing other problems. Hashtags also mean that an offline campaign can be tracked using the online measurement tools that make digital marketing so compelling. Now that many of the major social media channels (Facebook, Twitter,
YouTube, Instagram and Google +) support hashtags, using them in social media promotions is becoming more popular - and beneficial to brands looking for greater engagement. No option is better known than the famous “Branded Hashtag” which gives immediate recognition across millions of viewers for a particular entity. “This hashtag has ease of recognition, will help us better manage online content, nurture a larger audience discussion base, keep content lively and give the destination greater visibility in organic search engine results,” said Mouza Al Shamsi, Acting Executive Director Marketing & Communications, TCA Abu Dhabi. “The #inAbuDhabi campaign will be wide-reaching and rolled out across all communication channels of our visitabudhabi online resource. It will be used across social media for maximum reach and impact and will be a tool to tell the destination story locally, regionally and internationally.” Creating a capital buzz #inAbuDhabi is supposed to represent and resonate the emotion of an emirate which is rich and diverse in culture as
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well as all imaginable modern luxuries. #inAbuDhabi was selected for its instantaneous recognition qualities and its ease of implementation by a full range of destination stakeholders. The central theme of the initiative is an intensive three-month promotional campaign which will include PR, advertising and promotional engagement across a range of media. It also includes a ‘Tell Us Your Story #inAbuDhabi’ campaign, where visitors are urged to share their experiences of the exotic locations in the capital like Liwa desert, Ferrari World , Yas island etc in various social media platforms like Facebook, Twitter or Instagram. On Facebook’s #inAbuDhabi page, there are already dozens of events happening in the emirate being promote; from Mubadala’s World Tennis Championship from January 1 to 3 to UAE Offroaders Pink Drive charity and awareness campaigns for breast cancer. Celebrities like Volvo Ocean Race sailor Adil Khalid, American illusionist David Blain and India’s Bollywood singer Sunidhi Chauhan have played their part in promoting the #InAbuDhabi campaign. “We are looking for people to showcase the best attractions, hotels, restaurants, activities and events in Abu Dhabi and for
stakeholders to use #inAbuDhabi across their own communication platforms. Creating a buzz means #inAbuDhabi must be used by message creators and destination promoters but most importantly by visitors and residents as they experience the emirate,” explains Al Shamsi. Tell your tale The hashtag has a dedicated website – StoryInAbuDhabi.ae – that will feature user generated stories #InAbuDhabi to help spread word about the emirate. So far the campaign has garnered the attention of an eclectic mix of people including rugged adventurists in the Gharbia desert to the suave diners at the Emirates Palace. The campaign aims to position the emirate as a world-class tourist destination by promoting its exciting attractions, luxurious hotels, stunning architecture, unmissable events and unforgettable experiences. Many hotels, restaurants and tourist agencies have picked the hashtag to promote their deals and campaigns for easy visibility amongst customers. Hashtag adventures While #inAbudhabi is just finding its wings, it hopes to soar the ambitious skies of tourism and escalate Abu Dhabi’s popularity as the most happening place to be. Strategic promotional tactics, excellent
infrastructural facilities, global ease of travel and the myriad attractions make Abu Dhabi a one stop destination for all your holiday dreams. Add to this the undeniable commanding power of the social media, and #inAbu Dhabi and TCA Abu Dhabi are all set to please the 3.2 million average visitors who will set foot in the capital. Carpe Diem The euphoria surrounding the Expo 2020 has already provided a major boost for the economy and workforce confidence. According to the quarterly business survey conducted by the Department of Economic Development, the Dubai business community has been significantly more optimistic during the first quarter of 2014, compared to the same period of last year. SMEs in the region are rising up to the occasion and capitalising on this market confidence. The performance of the SMEs is expected to bring a level of increased competition into the local market. This will in turn drive the need for dynamic approaches, embracing new channels of customer acquisition and retention and keeping ahead of the technological innovation. SMEs that thrive in the Expo period will be able offer their peers healthy competition in terms of quality and competency. There are a few trade pundits who argue that Expo 2020 is a bubble waiting to burst and all the money, effort and innovation put into the event will be redundant after its culmination. What SMEs have to realise is that opportunities of this magnitude should not be ignored. It is time to put your best foot forward and seize the moment. The global attention and involvement that the Expo has generated for the country is an opportunity for SMEs to achieve their optimum cumulative potential by working together.
For an online version, please visit: www.tradeandexportme.com/2014/11/wheninabudhabi-tell-your-story/
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the Bottom Line Bill Chappell occupies a rare space as the CFO of Dubai Silicon Oasis, a free zone dedicated to the development of technology-based SMEs. In the following interview he shares with SME Advisor how far along technology has come in the UAE and why the figures are the most important aspect of his role as Chief Financial Officer.
Bill Chappell, CFO, Dubai Silicon Oasis
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SILICON OASIS OFFERS A PRIME AND FERTILE ENVIRONMENT FOR SMEs.
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Dubai Silicon Oasis (DSO) occupies a vast 7.2 million square metre stretch of land in the northern reaches of the UAE’s most globally recognised emirate. Established in 2005 as a government-owned free zone devoted to the development of technology, DSO has in the time since welcomed over 1,087 companies into a space of which more than 59% of has been developed. Responsible for liaising with DSO’s companies both large and small whilst overseeing the free zone’s balance sheet, CFO Bill Chappell mans a unique station as a finance executive with a keen eye for technological growth. “I’ve been with Dubai Silicon Oasis for nine years and my role is rather split. I am the finance director but I’m also responsible for our initiatives on technology incubation and investment which is all very interesting,” Chappell said. Despite Chappell’s years of experience in the technology industry granting him an imperatively strategic purview as CFO, he makes clear what is most important as Chief Financial Officer. “Getting the numbers right must always be the number one thing. People talk about strategy and a number of other things, but you must focus on the numbers,” Chappell offered. “My background is in technology companies for over ten years previous to coming here, so I have a knowledge of technology which I brought to Dubai above all. My overlap personally involves understanding technology whilst being a CFO.” When Dubai Silicon Oasis first came into existence, the area was undeveloped with no roads, customers or residents. Today the oasis acts as both a home for industry and residence whilst the Dubai Silicon Oasis Authority operates a number of services unique to companies which operate within the free zone. A business incubation centre, venture capital
funding structure and various forms of entrepreneurial support are among DSO’s many aspects available to tenants. Said Chappell: “There are three categories of companies at DSO. There are smaller companies which deal more largely with our entrepreneur and incubator ecosystem. The other extreme involves global firms such as Fujitsu or SAP, and we look at their needs and make sure they’re satisfied as customers. They want our help to get setup. And then there is the middle group and I meet them if they need my help as CFO.” DSO counts SAP, Porsche, Fujitsu and Qordoba among its vast bank of companies, each of which are granted access to the Chappell’s well-honed expertise. “Bill has been involved in several meetings to gain updates about the company and offer input on what he thinks we should be focusing on whilst asking questions about our financial processes. He also sits with the board on occasion,” said Loulou Khazen Baz, founder of Nabbesh, an online marketplace which connects professionals with work opportunities. “Dubai Silicon Oasis has been an important Investor at various stages of Nabbesh’s journey and a vital stamp of approval. Our company has found priceless value in DSO’s support and the approachable nature of an involved CFO like Bill.” Chappell faces a number of challenges related to investment due to the region not ranking tech developments as high as traditional platforms such as real estate. Additional concerns related to innovation have found themselves increasingly entering the CFO’s remit as related to encouraging ideas specific to the region. Chappell is confident however that certain companies based in DSO are addressing these issues “In this region, one of my biggest challenges is getting people to
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Dubai Silicon Oasis headquarters
Within five years we’ll be further down the path and recognised for our contributions to the smart city and the Islamic economy.
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understand the complexities of tech. Technology is a good investment class, but the region is focused very much on real estate whilst the investment class of technology doesn’t rank as high,” said Chappell. “In order to widen the general understanding, we want to be developing solutions which address problems specific to the region. We have one or two gems, for example Qordoba, a translation company which translates content in multiple languages. The programme utilises artificial intelligence and as a result is getting smarter and smarter each time it is asked to translate so that it understands the meaning of what it’s translating.” Another key variable for DSO is centred on supporting Dubai’s goals based around becoming the world’s capital for Islamic finance. Chappell describes his role as CFO as one with “two thousand hands”, a multilayered position which he seems to relish being held responsible for.
While DSO has grown tremendously in its near decade of existence, the free zone’s exuberant CFO sees lots more to come. Said Chappell: “I see us going from strength to strength. We’ve been in existence for nearly ten years. When I joined it was empty desert. Now we have over 1,000 companies and an estimated 43,000 living on site. Within five years we’ll also be further down the path and we’ll be recognised for our contributions to the smart city and the Islamic economy.”
For an online version, please visit: www.tradeandexportme.com/2014/11/ the-bottom-line/
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WILL YOU GO BEYOND BORDERS? IT’S NOW OR NEVER. Nov.30 - Dec.1, Dubai SME Beyond Borders makes business history in the UAE. It’s the first-ever occasion assessing the impact of international trends on the local SME scene - looking at whether companies in the GCC can be world-class innovators or whether they are destined to be followers, buying-in innovation at a price they can’t control. You’ll find out about the ‘East/West Corridor’: how all SME business is now interconnected around the world and that regional SMEs are in effect competing in challenging global markets. We’ve brought together top-name, global VIPs, regional champions and local captains of industry. To debate key themes like: • How to be competitive in a global market and ensure you’ve got the data and intelligence you need • Finance beyond borders – getting the solutions you need by thinking international • Customer loyalty and how you create it In the spectacular setting of the Madinat Arena, Dubai, this is an occasion like no other - focusing the eyes and ears of the region. Register as a delegate now - and discover life Beyond Borders.
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Onwards and upwards!
Spotlight on the growing mutual economic relationship between the UAE and Northern Ireland
Trade and Export Middle East caught up with Rt. Hon. Arlene Foster, Minister for Enterprise, Trade and Investment, Northern Ireland, to discuss the key role that she plays in progressing their thriving economic relationship with the UAE.
Arlene Foster, Minister for Enterprise, Trade and Investment, Northern Ireland
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The United Kingdom and the UAE enjoys a very strong bilateral economic rapport. Latest forecasts show that the UAE-UK trade balance is expected to exceed AED 73 billion by 2015, which means that country members of the UK will continue to harness the burgeoning business and investment potentials of this relationship. Northern Ireland is among these countries that contributes significantly in the growing mutual cooperation between these two big economic key players.
Can you please describe the bilateral trade relationship between the UAE and Northern Ireland? We’ve been present in Dubai since 1994, mainly focused on trade, but more recently, I’ve spent more time raising the profile for Northern Ireland as a region of the UK, with local families, particularly through the Dubai and Abu Dhabi Businesswomen’s Councils, who have visited Northern Ireland and have become great advocates for us. Our First and deputy First Minister visited in 2012 and since then we’ve had further engagement with Ministers about how we can share ideas about the growth of small businesses and innovation. It’s very much a work in progress but I am hoping they will visit Northern Ireland and see for themselves how much we have to offer in terms of investment, support for Research & Development and tourism.
Which areas of trade and investment do you wish to enhance through your relationship with the UAE? www.tradeandexportme.com
We are very focused on what we are good at and what sells well in UAE. Historically, we have a great agriculture sector and there are lots of Northern Ireland food products on the supermarket shelves and in restaurants here. But, for us it’s been about innovation in that sector and as the top region in the UK for the Great Taste Awards, we are developing products that we know will sell well. And, of course, the burgeoning dairy and poultry sectors in UAE and across the GCC provide great opportunities for our supply chain. After all, it was two Northern Ireland scientists that were the founders of Al Marai and our largest private sector employer in Northern Ireland is Moypark, part of the Brazilian Marfrig Group. We are very much part of the region’s drive for food security. Two other sectors, transportation and specialist construction and interiors and are also growing rapidly and we know these are key sectors for Dubai Expo 2020. Northern Ireland makes one in three London buses (the famous Boris Bus); one in three buses in Hong Kong and one in four buses in Singapore. But, we just don’t want to sell, we are equally interested in supporting economic development and diversification in UAE - and these buses can be assembled locally providing high value jobs in the region. Every Eddie Stobart trailer in the UK is made in Northern Ireland and the same trailers are now in UAE and Saudi Arabia. There’s every chance (one in three) that you will sit on an aircraft seat made in Northern Ireland if you fly with Etihad or Emirates. You will likely leave the flight on a staircase, or be served a meal that has been delivered on a truck made in Northern Ireland by Mallaghan Engineering. Some additional interesting facts which demonstrate the expertise on offer in Northern Ireland: • One in five of the world’s computer drives has a part created in Northern Ireland • One in four of the world’s full scale
marine energy prototypes have been developed, tested or manufactured in Northern Ireland • Belfast is the world’s top destination city for financial technology R&D investment Most people don’t know that the Dome of the Rock in Jerusalem was refurbished by Northern Ireland. Today the same companies, who work globally, and others like them are developing relationships in UAE to support the ambitious plans to entertain the 20 million tourists that are forecast to come here in the next ten years. We are good at building theme parks and fitting out ships, royal boxes in stadiums and the best hotels in the world. Five years ago, Ulster Carpets Mills set up in a Free Zone in Dubai and today they are one of the primary suppliers to projects across the whole region, from the Burj Al Arab, to the new Sofitel on Sheikh Zayed Road, to the Flame and new airport in Baku, in Azerbaijan, to name a few. Their success is based purely on quality, design and innovation. We know that Emiratis are interested in property and there is a lot going on in that area in Northern Ireland at the minute, with many opportunities for investors. We also know there’s an interest in investing in small innovative companies and we’ve a lot of those thanks to the ecosystem around our two universities and the focus on the commercialisation of technology. We are exploring and will continue to explore how we can attract new investments from the UAE. What I would really like to see is a direct air route between Northern Ireland and UAE, but, of course, these are commercial decisions and we do engage with the region’s three main carriers both locally and at the major Routes Conferences. We want to accelerate business and create the cargo traffic alongside the tourists and businesspeople that are either visiting UAE or transiting to further afield. It’s an integral part of my growth strategy for Northern Ireland generally and
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we are building more business in key hubs around the world to support our proposition and make it more attractive to the main airlines.
What kind of presence do UAE businesses have in Northern Ireland? While there are none at present, I hope to change that. I would like to think that the work we are doing along with my personal commitment and support for our team in Dubai, which is based both in the British Embassy and in Dubai Internet City, will attract UAE businesses and investors to Northern Ireland in the future.
What steps are you taking in terms of inviting UAE businesses to Northern Ireland and vice versa, what are the initiatives that you have in encouraging Northern Irish businesses to expand to the UAE? We have a strategy of encouraging buyers and potential investors to visit Northern Ireland. All of the major supermarkets have visited recently and they are often surprised by our hospitality and the quality of what they find. My Department’s support, through Invest Northern Ireland, assists companies to innovate, to grow and to trade and invest internationally. Tourism also plays a critical part in developing a proposition for business visitors. We have some fantastic places to visit and see and, of course, we like to tell the world about our golfing product. The world’s No. 1 golfer, Rory McIlroy hails from Hollywood, Co, Down, and we have two of the world’s top ten golf courses. Just in case you thought Rory was unique, Northern Ireland golfers, Rory, Graeme McDowell and Darren Clarke have
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won six of the last 12 golf majors so we really are the ‘Home of Major Champions’. Tourism Ireland has an office in Dubai and we want to work more closely with them on developing VIP tourism packages. The new Titanic Belfast centre, and the success of “Game of Thrones”, which is largely filmed in Northern Ireland, are not only great attractions for tourists, but also for business people, when lifestyle is often part of the deciding factor on where to invest. Part of our strategy is to tell people in UAE more about how smart our workforce is. Every year, Northern Ireland schools attain the highest percentage of pass rates across the UK at GCSE (aged 16) and A-level (age 18). We are working on potential collaborations, which will give our universities the profile they need and what UAE investors are seeking - local world class education and training. Countless Northern Ireland companies have offices and warehousing in UAE, taking full advantage of Dubai as a regional business hub and we have a number exploring local manufacturing. My teams in Dubai and in Belfast practically work as Ambassadors for UAE as their job is to promote UAE to Northern Ireland companies and facilitate their growth by helping them to establish representation and, in some cases, investment. Our participation in the major shows is not just about UAE. We know they are gateways to the world, so our presence year on year has increased at Gulfood and Arab Health. This year, we have stands at specialist food shows and GITEX as well for the first time.
Please tell us something about your relationship with the Dubai Business Women’s Council (DBWC). My relationship with the DBWC began last year when I first met
with President Raja Al Gurg. I was inspired by how much empowerment there is for women in Dubai and wanted to explore some key areas on which we could work together. In May, DBWC formed part of a Women in Business trade mission to the UK which saw the group visit Belfast and join an international women in business conference, at which Nadine Halabi, Coordinator at the Council, gave the audience a real insight into life in Dubai. I was very pleased to be able to spend time with the ladies and to discuss with them ways in which we can work together. Since then, we have continued to develop our relationship and see more common ground between our two countries. As women, whether we are in Dubai or in Northern Ireland, we face similar challenges in the field of business. During my visit in September, the DBWC offered to host a luncheon for me and invited some of their key members along. It was a great occasion where my team and I were able to share some more about Northern Ireland and I was able to talk with some of the
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Very often bottlenecks are perceived and it’s my Department’s job to help businesses along the right path and to understand which approach is best suited to ensuring business runs smoothly. For every product we sell here, everyone benefits and that’s the way it should be, however, it can be difficult for very small businesses which have real market potential to manage the cost of doing business in UAE.
For GCC companies keen on investing in the Northern Ireland what advice would you give them and which sectors do you wish to highlight?
women about their work and the entrepreneurial spirit in Dubai. I’m really impressed by the work of the DBWC and the support they are giving to women in this city through events, advice and networking opportunities.
Do you have any specific project that you are working on with DBWC that focuses on developing the capabilities of women in the field of business? If so, can you please tell us something about it? There are a number of areas where I can see us working together to develop the capabilities of women in business. At the moment my team in Dubai is exploring these opportunities.
In your view what are the bottlenecks faced by current traders and exporters dealing with this region? www.tradeandexportme.com
It’s a bit like a horse race with one jump. The perception of Northern Ireland and its past sometimes doesn’t help, but when we get people to actually see Northern Ireland for themselves, then that’s the hurdle jumped and it’s usually a flat ride after that. Companies and individuals really should look at the commercial and residential property market and also perhaps invest in the funds that support innovative companies; companies which could use the GCC as their regional hub for development of the Middle East and African markets. UAE’s growth as an aviation hub is being quickly followed by the development of a local aerospace sector. We would like companies to explore collaborative opportunities in a sector where Northern Ireland has over 100 years experience. Our aerospace sector is at the leading edge in composite engineering, with all the major plane makers sourcing from us, not to mention a recent GBP 500 million investment by Bombardier Aerospace, European Union and the UK and Northern Ireland government in a wing factory for the new CSeries jet.
How do you see the bilateral economic relationship between GCC countries and Northern Ireland in the coming years especially with the UAE? Of course, Northern Ireland, as part of the United Kingdom, benefits from the excellent UK-UAE relationships across all areas. The British Embassies in UAE work closely with my team to support our drive to promote Northern Ireland and put it on the radar of the major trading families and Ministries. I would like to see stronger promotion of the UK regions – we are a little behind on that, but I’ve visited UAE a lot in the last few years and I am determined that UAE nationals and the Government get to know about the success and re-emergence of Northern Ireland. As I’ve said before, its very much work in progress, but whether its business, tourism, education or bilateral relationships we are forging ahead and its opportunities like this one with you today, which help us tell the real Northern Ireland story.
For an online version, please visit: www.tradeandexportme.com/2014/11/ onwards-and-upwards-minister-arlene-foster/
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Strategy
Innovation The Apple Way Innovation is a subject that is being strongly discussed in various industries. Presenting something new to the market that consumers want and need can lead to a million dollar success. In the following article, Dr. Ashraf Mahate, Head of Exports Market Intelligence, Dubai Exports, underlines the success of the world’s leading innovator – Apple Inc., and discusses how SMEs can learn from this world-class entity.
“It’s not a faith in technology. It’s faith in people.” – Steve Jobs
On November 14, 2014 Bloomberg reported that the value of Apple Inc.’s shares was more than the combined market capitalisation of the Russian stock market. From the start of 2014 to mid-November the world’s most-valuable company increased its market capitalisation by USD 147 billion and by November it has reached USD 652 billion. Meanwhile, the combined value of Russian equities has fallen
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by USD 234 billion to USD 531 billion during the same period. The recent release of Apple’s iPhone 6 and iPhone 6 Plus have considerably helped increase the market value of the company. The question that arises is how can a company like Apple which is only operating for less than 40 years become one of the most-valued in the world? The answer to this question lies in Apple’s ability to continuously extend the boundaries of innovation. So what can SMEs learn from Apple’s success story? At the core of every successful business is the ability to harness creativity and innovation in a profitable and sustainable manner. This is usually associated with ensuring that innovation delights
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Strategy
The importance of creativity and innovation in generating and ensuring a competitive advantage has meant that many companies have sought ways of increasing these two aspects within their organisations.
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the consumers and inspires the employees to generate greater value from their creativity. On the surface it seems a very easy process in that one simply needs to generate ideas which can translate to profitable outcomes. However, the reality is far from this as the process leading to the generation of ideas cannot simply be switched on or off on demand. Creativity and innovation do not occur neither at will nor in a vacuum. It needs the right environment which includes appropriate strategies, frameworks and incentives. Various studies have found that creative organisations are those that encourage an open and honest exchange of ideas between their staff and key stakeholders. As such organisations need to take risks at a certain extent so that the ideas generated are put into practice. Of course not all implemented ideas will be successful, nevertheless the ones that are will go on to help support an innovative workplace. The same studies have found that organisations that are rigid in nature and are not open to testing new ideas stifle and at some point kills creativity and innovation. What the management team needs to understand is that the creativity process is not something that can be instructed. Instead they should build an environment that supports the creativity process. The reason for this is that creativity may start in an individual’s head but at times it can only be developed and structured through interactions with other people in and out of the organisation. Creativity and innovation is mostly driven by two key factors, first is the demands in the market whereby it seeks to satisfy customer needs. Second, innovation is supply led whereby firms develop a particular product or service and then push it onto the market. Of course, technology plays a pivotal role in allowing certain innovations in the market but this alone is not sufficient for creativity to take place.
The importance of creativity and innovation in generating and ensuring a competitive advantage has meant that many companies have sought ways of increasing these two aspects within their organisations. Of course large organisations can spend large sums of money on hiring highly-capable people and installing specialised infrastructure to support their innovative process. However, this option is not always available in the SME sector. More often than not SMEs need to be resourceful in devising ways in which to be creative and spur the innovative process. The main technique that is commonly applied to increase creativity and innovation in the workplace is creating group-based assignments and tasks that allows individuals to analyse the demands and opportunities from a certain idea. It is generally accepted that group based tasks can lead to a high level of interaction which can be transformative for both the creative process and the execution of a product or service. Individuals participating in a group have different perspectives regarding issues that they will encounter, hence the interaction between them can lead to a discourse that promotes changes and the adoption of new ideas. Having different individuals in a group discussing a certain idea would mean that the insights that built the foundation of that particular innovation is from a diverse knowledge and skill-set. The need for diversity then implies that a problem requires the perception of not just a single individual but more likely a mix of varying knowledge and skills. Creativity and innovation are important elements for an organisation to maintain their national competitive advantage and it can also encourage them to enter foreign markets. In fact, at the basic level exporting one’s product or
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service to other countries can also lead to innovation as the company will seek to satisfy different tastes in the market they wish to venture into. At the microeconomics level exporting allows the firm to recoup the investment incurred in arriving at the innovation as well as profiting from economies of scale. Therefore, in many respects innovation is closely tied to exporting. If this is the case the real question is – why is there not enough emphasis on building creative and innovative organisations within the SME sector? This question can be answered by looking at the pre-requisites to a conducive environment for creativity and innovation. Some of the important aspects towards such environment are as follows: i) a clear mission statement that allows for taking calculated risks that values innovation and promotes individuals to challenge the status quo in a structured and constructive manner. ii) integration across the organisation so that employees understand how a particular situation or problem can impact the organisation as a whole. Also, the integration brings about a greater diversity of knowledge and skills which promotes creativity and innovation as highlighted earlier. iii) to make all staff responsible for innovation and provide them with the appropriate resources. iv) to create a physical environment that enhances creativity and innovation within the workplace such as meeting points, quite areas for thought and the like. v) communication tools that facilitate knowledge management and sharing throughout the organisation so that new ideas are widely dispersed to ensure their adoption and feedback. vi) a performance measurement system that evaluates the
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creativity and innovation within the organisation so that the outcomes and impact become a learning tool within the firm. It is vital for firms to have a creative vision to produce great ideas however this needs to be translated into profits through product development and marketing. Therefore, the focus has to be on value innovation which is all about developing products and services that give customers what they want and need. So how can resource constrained SMEs get into value innovation? The answer is simple – it can be done through a strong leadership that is willing to embrace risk and make the necessary organisational changes to facilitate the innovation. Strong innovation leadership will ensure that the firm has a clear and focused strategy and that it knows exactly which areas it targets to reach to be able to generate higher profits. Apple Inc. certainly makes it look easy to innovate and deliver amazing products that put the competition to shame. But bear in mind that since its establishment Apple Inc. has built a management system that is focused to create distinctive products. Apple Inc.’s history show that its success was a product of a strong innovation led leadership.
Dr. Mahate received his doctorate from Cass City University Business School in London (UK). He read Economics at University College London, followed by a Masters in International Economics and Banking at the University of Wales in Cardiff. Dr. Mahate is a professional educator and received his training at the Institute of Education (University of London). He is a member of the Chartered Institute of Managers (UK) and a Member of the Institute of Commercial Management (UK). He is also a member of the Association of Certified Anti-Money Laundering Specialists (ACAMS). He can be reached at ashraf.mahate@ dedc.gov.ae.
For an online version, please visit: www.tradeandexportme.com/2014/11/ innovation-the-apple-way/
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Event review
Are you following the roadmap? ROADMAP FOR GROWTH HAS RAPIDLY BUILT A REPUTATION AS PERHAPS THE MOST PRACTICAL AND PROVOCATIVE SME EVENT OF THE YEAR, BRINGING TOGETHER KEY SME CHAMPIONS IN THE SAFINAH BALLROOM, JUMEIRAH BEACH HOTEL, DUBAI - AND IDENTIFYING THE PIVOTAL MOMENTS IN AN SME’S AMBITION AND EVOLUTION.
How do we trace and identify the evolution path of an SME from startup, to micro, emerging business, developed business and then an IPOready (and perhaps international) enterprise? Plus, once we track the landmark moments, how can we effectively say what is the best route that an SME should take in order to grow, prosper and fulfil its founder’s entrepreneurial goals? This was the purpose of Roadmap for Growth, held on September 29 and bringing together more than 300 SME owners and directors to witness a series of keynote presentations from leading authorities on the SME agenda. The event featured two refreshingly new conference formats, rarely seen in discussions around the SME space. Firstly, a new ‘head to head’ concept, in which the event’s two leading keynote speakers - HE Abdulla Al Otaiba, Senior Managing Director & Group Head of Retail and Commercial Gulf, National Bank of Abu Dhabi (NBAD), and Salvador Anglada, Chief Business Officer, Etisalat, agreed to searching one-on-one sessions with the session’s Moderator, Paul Godfrey, Group Director of Editorial, CPI Media Group. Secondly, a highly successful ‘adversarial panel’ concept in which two panels comprising five industry experts debated whether it is best to be an SME led by Equity or Debt financing.
The most practical and provocative SME event of the year
In alliance to empower your business Another key feature of the occasion was that SME Advisor’s two leading sponsors, National Bank of Abu Dhabi and Etisalat, entered into a joint partnership to host the event, with the phrase ‘in alliance to empower
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Event review
More than 300 SME owners and directors witness a series of keynote presentations
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your business’. This enabled a fresh, dramatic scale of event with an especially strong agenda and quality of speaker, with both NBAD and Etisalat fielding world-class, senior VIPs. The structure of the event was designed to follow the contours and ‘twists and turns’ of the life cycle of an SME - the journey being led by the two challenging areas of finances and digital connectivity. So, for example, HE Abdulla Al Otaiba looked at how banks will look for very credible evidence of sound financial management before advancing funds to a young SME, but at the same time emphasised that there is a wide raft of options whereby the bank can provide significant help to a growing firm - especially in terms of Trade Finance, designed to smooth the path to overseas transactions and providing a significant boost to commercial credibility. These same aspects surfaced again during the head-tohead session, with HE Abdulla Al Otaiba dealing admirably with some stiff questioning from Paul Godfrey, and being adamant that the bank was completely justified in looking for a ‘two-way street’. The fact is, he commented, that if you do not have three years’ audited accounts for your business, you are clearly not taking your business seriously - so why should the bank? Meanwhile, Salvador Anglada looked at the key aspects whereby today’s businesses need to avail themselves of string and comprehensive levels of connectivity, and the best ways of doing so. He focused on how, for Etisalat, no business was too small or their needs too unique - again, admirably expressing this position during the head-to-head session. One of the key aspects here was his recognition that the region’s leading provider was now focusing on the SME sector in a much more proactive way than in the last, and that it had developed special ways of interacting with small and medium businesses so as to accelerate set-up and implementation of telecoms and data packages.
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Event review
The power of Leadership The second session of the day featured the role of Leadership, and what it takes to motivate and dynamise growth. A fascinating presentation from Jehan Abdulkarim, Director - Marketing & Communications, Accenture, looked at some of the statistical data round what good leadership can achieve, presenting remarkable findings from organisations where all the factors were equal except the quality of leadership. This was clearly demonstrable, for example, in a retail context, where outlets in demographically equal settings provided an extremely enlightening ‘litmus test’ model for the power of leadership. The well-known local entrepreneur and business tycoon, Jassim AlBastaki, Director-General, Midex Airlines, explained how the leadership training he had received from his father has served him in good stead for building and launching a chain of major businesses. He especially focused on the role of the leader as someone with an intrinsic understanding of every aspect of the business, who was not afraid to learn from doing the most humble jobs in the company - how else could the true leader know what to do, how long it took, and how much it cost? This same theme was then developed by Robert Keay, CEO, Ethos Integrated Solutions LLC, who explained the role of the business leader in successfully navigating the key landmarks along the route. He focused especially on the importance of understanding the critical ‘hotspots’, where the business was likely to encounter crises because of cashflow and lack of business in the incoming revenue pipeline. Another factor he highlighted was the importance of good client selection: an account may seem highly promising, but not if the client always pays dangerously late! Another factor of leadership - often not given the attention it warrants – it’s the importance of choosing the right people for the pivotal jobs in your business. A provocative and well-argued presentation on this topic came from Martin McGuigan. Partner
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and Head of Reward Consulting, Aon Hewitt. In the same way as the presentation on leadership and its impact on performance, he looked at ‘control test’ scenarios, where businesses faced with ostensibly similar challenges responded in markedly different ways, as a result of the varying skills of the staff heading up key departments. Play to your strengths, not your weaknesses! One of the most significant themes emerging from the day was the importance of playing to your strengths - using the resources you already have as wisely as possible before expanding your business’ liabilities. Among the high-profile personalities giving expert input here were Mikkel Kannegaard, Chief Operations Officer, 36-Strategies; Dr. Ashraf Mahate, Head of Export Market Intelligence, Dubai Exports; Firdaus Shariff, VP Marketing, SAP Middle East; and Kory Thompson, Country Manager - UAE, Regus. The critical advice they had for SMEs included – • Tighten and streamline procurement procedures: this is where substantial sums can easily be lost and it pays to use dedicated software solutions that centralise and simplify re-ordering. • Look for flexible office solutions that can expand according to your needs and won’t commit you to more expensive, traditional lease arrangements. This can also reduce your overheads for aspects such as IT and web connectivity. • Invest on gathering sound market intelligence before taking a business overseas. The process can be more complicated than you might imagine and can easily result in wastage of precious resources. Nonetheless, handled correctly, overseas expansion can be a vital tool for growing a regional SME. The adversarial panel equity or debt? One of the key innovations of Roadmap for Growth was a session pitting two panels against each other and debating
whether a debt-based model or an equity-driven model is preferable for growing a business. Moderated by Paul Godfrey, a number of intriguing conclusions emerged from what ended up as a ‘dead-heat’; between the two contrasting views. For example: • Nilanjan Ray, Managing Director & Head of Global Commercial Banking, NBAD, commented that the expected 100 per cent return on equity made this the most desirable financial tool. • Chris Thomas, CEO and CoFounder, Eureeca, made the point that many SMEs would not be eligible for debt financing anyway so they have no choice but to pursue an equity-linked model! • Meanwhile, there’s no doubt that a debt-based template can accelerate growth and has proven to be a useful tool for businesses with ambitious expansion plans. It enables a ‘second try’ at previously thwarted objectives - a point made by John Merrigan, Director, Tamayyaz FZ LLC and Andreas Borgmann, Founder and Co-CEO, Kcal. • However, the inability to meet the obligations of debt can produce spectacular failures and media attention; it’s never a completely safe route, as Archie Berens, Partner and Managing Director, Bell Pottinger, commented. The key consideration, as he noted, is the financial gearing taken on board, which can prove a lethal ingredient in times of limited cashflow. A guide to the challenges Roadmap for Growth was designed to be an effective guide for SMEs looking to grow their commercial footprint. Generating more than 1,500 follow-ups in social media, it has proven to be a powerful catalyst for debate and future strategy.
For an online version, please visit: www.tradeandexportme.com/2014/11/are-youfollowing-the-roadmap/
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The largest business awards in the GCC 30th November, Dubai
Stars of Business has become an iconic awards brand like no other in the region. It recognizes the very best SMEs across 26 business categories. It’s universally respected as scientifically assessed and unimpeachably judged.
327,000 SMEs across the UAE $234 billion estimated total revenue of the SME sector 4,974 Awards entries in 2013 1,856 Individual company applicants
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Event review
Recipe for success
With five competitions International Competition, Emirati Competition, Gulf Products Competition, Hospitality Sector Competition and Gulf Exhibition - the second Dubai World Hospitality Championship showcased the best creations from local and international cuisine.
An exhibitor showcasing Emirati tradition at the Heritage Village
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During the chef’s competition of DWHC 2014
Organised by Za’abeel Palace Hospitality in co-operation with the Government of Dubai and The Emirates Culinary Guild, the second Dubai World Hospitality Championship offered a real opportunity to highlight Emirati food and culture, as well as providing Dubai as a stage for the world’s culinary talent to compete. According to HE Ahmed bin Hareb, President of DWHC: “The number of participants in the second cycle of the Championship witnessed a remarkable growth which exceeded our expectations. The 2014 cycle of the Championship will attract 3,385 participants compared to the previous cycle. After a series of evaluations, 2,588 participants have been qualified to compete in the championship, which reflects the success of DWHC and its increased reputation in the Gulf and Arab societies. Increasing the categories in the Hospitality Sector Competition from last year’s 14 to 21 has doubled the challenge for the participating chefs. The contestants will have to qualify based on various judging criteria and regulations such as taste, method of preparation, course of time elapsed, quantity of food, presentation, cleanliness, colour, smell and consistency.”
Ahmed Sharif, Vice President of DWHC, added: “The International Competition is one of the main highlights of the second cycle of DWHC. It attracts wide participation from the GCC and Arab countries, as it features a wide range of hospitality and culinary contests and activities. The competition will highlight the rich culture and authentic heritage of the GCC and the UAE. The event aims at spreading knowledge of UAE’s culinary traditions and Gulf hospitality and maintaining and passing them on to the next generations.” DWHC has played a vital role in maintaining the rich heritage and traditional culinary arts and promoting handmade products, shedding light on the authenticity of the UAE’s heritage and culture and the warm hospitality of its people. Sharif added: “The Championship is a global platform that aims at highlighting the top Emirati young talents and showcasing their achievements and creation in hospitality and culinary arts.”
For an online version, please visit: www.tradeandexportme.com/2014/11/ recipe-for-success/
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Event review
Empowering change
10th World Islamic Economic Forum
The 10th World Islamic Economic Forum (WIEF), held at the Madinat Jumeirah Conference Centre Dubai on 28 - 30th October 2014, addressed a myriad of current economic and business related issues with the objective of generating innovative and creative solutions to transform the global economy.
Speaking during the opening session of the three-day forum, HE Mohammed Al Gergawi, UAE Minister of Cabinet Affairs and Chairman of the Dubai Islamic Economy Development Centre, highlighted the role the Islamic banking sector can play in helping to improve stability across the Muslim world. “The world is facing many reasons for tense [relations] and regression in terms of development and this is happening in many of the Islamic countries. One of the reasons and purposes of Islamic banking is investment in land, the investment for the prosperity of nations and the happiness for human beings everywhere in the world,” he said. “The Islamic economy, together with economic partnerships and
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HE Mohammed Al Gergawi
the resources that can be devoted to the development of societies, are a key element towards the stability in the world. We can achieve this if we establish innovative partnerships and if we foster and promote cooperation and lead policies towards development that conform to Islamic rules. Islamic banking and the achievements made so far are very strong proof of the fact we can achieve this,” he added. The Hon. Tun Musa Hitam, Chairman of WIEF Foundation, said: “We do hope that holding this year’s annual Forum in Dubai symbolically indicates our best wishes and confidence in Dubai’s success.” “We are convinced that taking into account the connectivity of religion, politics and economic development, there needs to be increased attempt to bridge gaps by working on common denominators that could unite us all in order to create the changes of conflict. The most obvious common denominator is business collaboration through a win-win situation,” he added. Prime Minister of Luxembourg, Xavier Bettel, said: “We have a unique opportunity and responsibility to create bridges and partnerships between all of us, for the better good of our societies. While technological developments have revolutionised our means of communication and have dramatically accelerated globalisation, I would like to reaffirm the necessity of dialogue on our cooperation. We need to constantly
Hon. Tun Musa Hitam, Chairman of WIEF Foundation
evaluate our current relationships, to agree on new visions and to develop new, innovative partnerships for economic growth.” “This Forum plays a critical role in encouraging dialogue and trust between people and nations. This great city of Dubai provides an inspiring role in bringing people together in business and in friendship. The worldwide community recognises new global prosperity through international business cooperation,” added HE Kay Rala Xanana Gusmao, Prime Minister of Timor L’este. Focus on SMEs In an insightful, often self-critical and highly optimistic debate on the role of Islamic finance in enabling trade, high ranking international banking professionals observed that Islamic finance will become a norm rather than an alternative – as it is currently- in the near future, driving the growth of small and medium enterprises (SMEs) and Islamic trade.
For an online version, please visit: www.tradeandexportme.com/2014/11/ empowering-change10th-world-islamiceconomic-forum/
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Event review
In the spotlight
Women in Leadership Economic Forum Held under the patronage of the UAE Ministry of Economy, the 16th global edition of the Women in Leadership (WIL) Economic Forum (November 1920, 2014 at Meydan Hotel, Dubai) convened 300 global influential business and thought leaders to discuss key issues surrounding women empowerment.
Quick snapshot The Women in Leadership Forum has been actively promoting economic empowerment of women as well as diversity and inclusion in the workplace since its launch in 1999. The 16th edition looked at issues such as women shaping the future of investments, role of women in corporate governance, and the media’s role in positioning women in business, politics and leadership. The event serves as a platform to explore opportunities for female corporate leadership in the light of Dubai’s Expo 2020 outing.
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Self-made women who have successfully incorporated gender parity within the private sector, as well as women from the public sector who have made a difference to the community advocating for female entrepreneurship and innovation, gathered at the Meydan Hotel from 19-20 November. Under the patronage of the UAE Ministry of Economy, the current edition of the forum is organised by naseba, a French business facilitation company with on-the-ground presence in major cities across the Middle East, Africa and Asia. The two-day Forum saw Her Excellency Sheikha Bodour bint Sultan Al Qasimi, Chairperson of the Sharjah Investment and Development Authority and Founder, present an inspirational speech on female entrepreneurs in the UAE and women’s leadership in local and international markets. She made a case for the empowerment of women and youth through various social initiatives. Her Excellency Sheikha Bodour said: “Human capital is the most valuable asset for any nation. There is no doubt that our world is facing real and pressing challenges, which is why collective effort is needed in creating solutions and why supporting women’s leadership is a socially and economically vital undertaking. The WIL Forum provides an excellent platform for women who have already proved themselves as successful leaders to come together and find concrete ways to empower other women and tap into the vast pool of potential that women represent women represent. I look forward to taking part in this very important event.” A leading advocate of women empowerment and distinguished as one of the 100 most powerful women in the region, Her Excellency Fatima Al Jaber, Board Member, Al Jaber Group and Chairperson, Abu Dhabi Businesswomen’s Council, served as a panellist on ‘Women Game Changers: Vision 2020 and the Future of Business’. Dr Leila Hoteit, Partner and Managing Director, the Boston
Her Excellency Fatima Al Jaber, Board Member, Al Jaber Group and Chairperson, Abu Dhabi Businesswomen’s Council Her Excellency Sheikha Bodour bint Sultan Al Qasimi, Chairperson of the Sharjah Investment and Development Authority
Consulting Group, explored human capital development in a multicultural environment as a panelist on ‘What next best D&I practices look like – tools for cultural transformation and leadership’. Dr Hoteit said: “In the Middle East, gender diversity – especially across leadership roles – should no longer be considered optional. It must be unequivocally and imperatively part of a company’s DNA. Today, senior business leaders are using diversity as a point of strategic differentiation and as a powerful instigator of growth. After all, given the growing number of female customers across markets, there is certainly a strong need for a diverse leadership team that can connect with this specific audience segment. As the pipeline of female talent continues to expand, it is up to corporate stakeholders to make a ‘business case’ for investing in women and act as catalysts for change.” Cherie Blair, a leading lawyer, women’s rights campaigner and wife of former British Prime Minister Tony Blair, and Her Excellency Datin Paduka Seri Rosmah Mansor, wife of the Prime Minister of Malaysia, led the conference as keynote speakers.
For an online version, please visit: www.tradeandexportme.com/2014/11/ in-the-spotlight-women-in-leadershipeconomic-forum/
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