His Excellency Eng. Salah Ben Omeir Al Shamsy – president of the Federation of UAE Chambers of Commerce and Industry and president of Abu Dhabi Chamber of Commerce and Industry – discussed with China's new Ambassador to the United Arab Emirates prospects for enhancing trade and economic relationships and increasing collaboration means between the corporations and the businessmen of Abu Dhabi and China.
Al Shamsy stated that the emphasis in the coming period will be on strengthening industrial cooperation and attracting further Chinese industrial firms to invest in Abu Dhabi, and partnering with local businessmen, corporations and institutions that aim at benefiting from the advanced Chinese industrial and technical expertise. Likewise, Chinese industrial firms will benefit from the facilities, developed infrastructure and exceptional services provided by Abu Dhabi.
His Excellency the Chinese Ambassador to the United Arab Emirates pointed out that the UAE is considered one of the major regional trade partners with China where trade activities between both countries reached 10.7 billion Dollars at the end of 2005. He highlighted that the Chinese community in the UAE is around 100 thousands Chinese and there exist several Chinese firms executing construction and infrastructure projects in the UAE and that lead an important role in these fields.
His Excellency Eng. Salah Ben Omeir Al Shamsy – president of the Federation of UAE Chambers of Commerce and Industry and president of Abu Dhabi Chamber of Commerce and Industry – headed the discussion sessions held in the chamber's premises with His Excellency Mr. Tong – the highest minister and the governor of the Monetary Authority of Singapore – and the accompanying delegation.
Al Shamsy mentioned that, despite the special historical trade ties between Abu Dhabi and Singapore, what has been achieved was not satisfying. While Abu Dhabi's imports from Singapore have been increasing in the previous six years, Abu Dhabi's exports and re-exports to Singapore have witnessed a decrease. Given this fact, mutual efforts need to be stressed to increase trade volume between the two countries.
Al Shamsy added that there is a need to create a strategic alliance between Abu Dhabi and Singapore through effective participation in economic development related projects and investment in the various fields that gave Singapore global competitive advantage and expertise.
As reports indicate, Singapore posses a large portfolio of foreign direct investments. As stated by Al Shamsy, reports show that Singapore' foreign direct investments accounted for 174 billion of dollars at the end of 2004, and it is estimated that they exceed 200 billion of dollars in 2006. His Excellency proposed for Singapore to consider Abu Dhabi one of the countries for its foreign direct investment. Singapore will then be a strategic partner in the economic development process of Abu Dhabi.
The Abu Dhabi Chamber's president mentioned that this Emirate has witnessed noticeable economic advancement lately and has achieved successful improvements in various domains. Based on the Emirate's corporations data, and as per the announced plans and projects, the Emirate of Abu Dhabi will invest 700 billions Dirham in various areas in the following five years, of which 320billion will be invested in the building and construction sector, 120 billion in the tourism and tourist infrastructure sectors, 35 billion in the water and electricity sector, 80 billion in the petroleum and gas sector, and 60billion Dirham in the industrial sector.
He added that Abu Dhabi has announced several plans for the development and construction of Al Saadiyat Island so that it becomes an international tourist site, with investments reaching 100 billion Dirham divide into three stages, in the collaboration between the private and public sectors.
Al Shamsy pointed out that the specialized authority for economic territories is founding 30 industrial compounds (minerals, chemicals, petrochemicals, oil, gas, food, construction materials) and that if the legislation of property ownership is considered, foreign investment is expected to increase.
As for his Excellency Mr. Tong, he stressed on the concern of the participating institutions and corporations in executing the desired investment projects in Abu Dhabi, while encouraged by the entrepreneurial economic atmosphere provided by the United Arab Emirates.
In May 2007, the United Arab Emirates will host the Gulf Tourism Committee emanating from the Federation of GCC Countries, announced Chahine Ali Chahine – Assistant Secretary General of the Federation of UAE Chambers of Commerce and Industry (FCCI), member of the Gulf Tourism Committee. The Emirates will also host a seminar regarding the most important opportunities and threats facing tourism in the Gulf region.
Mr. Chahine participated in the committee's meetings that were held lately in Bahrain. He pointed out that the participation of the UAE in these reunions originates from the desire of the FCCI to support the Gulf private sector in the domain of tourism and to advance it to international standards especially that the tourism sector in the UAE contributes to 22 percent of the gross national income.
He added that the committee discussed varied topics related to the Gulf tourism sector, of which the next meeting that will be given in Muscat Oman in December 2007 and the selection of the UAE to be member of the organizing committee. In addition, it discussed suggestions and ideas related to the establishment of joint projects among GCC countries, as well as the preparations related to the first meeting around tourism and society in the Gulf countries and that will be held in Al Medina in Saudi Arabia.
The Gulf Tourism Committee took responsibility of resolving all threats facing the tourism sector in the Gulf region and to assist in further prospering this vital segment.
From the aim of the Emirates Business Women Council towards achieving its objectives, and with what complies with the future demands of supporting the growing business women sector in the United Arab Emirates, the council, in collaboration with Al Waseet for financial services, holds a gratis training session on December 25th, 2006, in the World Trade Center concerning the electronic stock exchange.
In this occasion, Dr. Rawda Al Mutawa's – President of the Emirates Business Women Council and Chief Executive Officer of the Abu Dhabi Business Women Council – stated that training constitutes an essential novel element in supporting business women and that the council aims at incorporating this element in its year plan 2006-2007.
In addition, Dr. Mutawa's declared that the council aims at firmly establishing its strategy as being opened and exposed to the various economic and investment sectors. Mutawa'a also stressed the importance of this training session and the importance of its content and the quality of its lecturers and trainers. This, she added, would yield the training to attain its goals summarized in developing brilliant human resources in the UAE financial market, making then the investment atmosphere in the Emirates more appealing.
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The Federation of UAE Chambers of Commerce and Industry (FCCI) published the 3rd edition of the Emirates Tourism Directory 2006 – 2007. This directory is considered the first of its kind in the UAE and among all Arab and GCC countries.This directory comes as a contribution from the FCCI to the support of the tourism sector in the UAE by introducing the most prominent tourist sites and tourism investment opportunities in the country, and as a back up to investors and business persons, tourists, and institutions.
Sheikha Lubna Bint Khalid Al Qassimim – Minister of Economy – who forwarded this tourism directory, avowed that the travel and tourism sector in 2005 has reached 3 billion 288 million dollars. In addition, the investment share of this sector in the UAE attained 10 percent of the total investments in the country. Employment in the tourism sector was around 127 thousands jobs, accounting for approximately 5 percent of total jobs. It is expected that by the year 2015 the total numbers of jobs in the tourism sector reach 204 520 jobs, equivalent to 12.3 percent of total jobs in the UAE market. Besides, the tourist shopping played an important role as it has attained 5.2 percent of the total non-petroleum exports to the UAE.
Engineer Salah Salem Bin Omeir Al Shamsi – Chairman of the FCCI Boards of Directors – also presented the Emirates Tourism Directory. He confirmed that the directory reflects the development and prosperity that the private sector achieves in various tourism and service fields. He states further that, aiming at serving all the institutions of the private sector, the FCCI is keen on publishing and improving this directory annually.
Finally, Abdullah Sultan Abdullah – secretary general of the FCCI – who also mentioned the supporting role of the FCCI to the private sector through its various publications hopes that this 3rd Emirates Tourism Directory would constitute an essential support tool for the national and international concerned institutions and persons.
His Excellency Khalifa Bin Muhammad Al Mouwayjii – vice president of the Federation of United Arab Emirates Chambers of Commerce and Industry's (FCCI) board of directors, Vice President of the FCCI executive office, President of Ajman's Chamber of Commerce and Industry – praised the unlimited support of His Highness Sheikh Khalifa Bin Zayed Al Nahyan – President of the UAE – and his brother His Highness Sheikh Muhammad Bin Rashid Al Maktoum – UAE's Vice President, Prime Minister, Dubai's Governor – and their brothers Their Highnesses members of the higher council governors of the UAE for the private sector.
Honor is granted to them especially that the FCCI and through more than twenty nine years since its establishment works hardly to develop and empower the private sector nationally and internationally, through the establishment of joint businessmen council with sister and associate countries and the reinforcement of the FCCI presence in Arab and global assemblies, in addition to its support in all economic assemblies inside the UAE and outside, which leads to a boost in national economy to global level.
This praise was vowed during a meeting for the executive office of the FCCI which he headed at the FCCI site in the presence of each his Excellency Rashid Hamid Al Mazroui – FCCI board member and executive office member – His Excellency Muhammad Sultan Bin Huwaidan – member of the FCCI executive office board –his Excellency Rashid Jassim Al Abdouli – Vice president of Ras Al Khaymah Chamber of Commerce and Industry – His Excellency Abdullah Sultan Abdullah – Secretary General of the FCCI – and his Excellency Chahine ALI Chahine – Assistant Secretary General of the FCCI.
The executive office discussed the minutes of the FCCI general committee concerning the necessary modifications of the human resources regulations based on the FCCI law 22 for the year 200. Furthermore, the office discussed the gross cost of the project of the FCCI new premises in Dubai. Likewise, it acknowledged the year 2007 estimated budget and the yearly plan after discussing it in the light of the FCCI potential financial and administrative capabilities. Finally, it discussed several items on the agenda related to the national economic situation and future performance of the FCCI.