point plan unveiled to boost Dubai businesses

The Dubai Economy announced on Tuesday the launch of four initiatives aimed to strengthen ties with the private sector and empower the business community.

The new initiatives include EngageDXB, an app to connect the leadership of all business group entities; the Dubai Quality Appreciation Award for Business Groups & Councils; Legal Status for Business Groups and Councils, and a Future Industry and Foresight initiative to serve as a resource for business groups.

Sami Al Qamzi, director-general of Dubai Economy, speaking at the second Business Community Engagement (BCE) Forum urged the business community to be part of the new initiatives so they can take advantage of the opportunities to improve performance, provide better services to members and attract new members.

Al Qamzi reminded of the need to strengthen the collective voice and efforts aimed to develop business in Dubai. "We are working tirelessly to raise the concept of a business-supporting government to a new level of understanding, partnership and mutual respect, and we will continue to co-operate with business groups and regulatory bodies to address the various issues and challenges, and help businesses to be future-ready."

To be future-ready means to be prepared for new opportunities, growth, development and investments. The outcome is a better economy, an efficient business environment, an effective organisation and an advanced quality of life for all, said Al Qamzi.

The annual BCE Forum, under the theme 'Enabling a Future-Ready Business Environment, is a strategic event for Dubai Economy to position itself as a prime facilitator and enabler for businesses in all sectors to grow sustainably.

The Forum was aimed to strengthen the partnership between Dubai Economy and the business community in Dubai, and particularly support businesses to be future-ready, said Al Qamzi.

The BCE Forum brought together representatives of business councils and groups in Dubai and diplomatic delegations along with chief executives of major companies operating in the UAE.

The BCE initiative was launched in April 2016 to deepen the strategic engagement between the Department of Economic Development and the business groups, councils, associations and corporate sector.

Al Qamzi added that Dubai has come a long way in achieving sustainable development based on innovation and high productivity, by building a diverse base of high value-added economic activities, which has also enabled the national economy to grow and adjust to internal and external shocks.

"GDP growth in Dubai is expected to reach 3.2 per cent this year, 3.5 per cent in 2018 and 3.7 per cent in 2019, supported by a stimulating business environment that is the best in the Arab world and 21st among 190 global economies, according to the latest Doing Business report of the World Bank," said Al Qamzi.

Mohammed Shael Al Saadi, CEO, Corporate Strategic Affairs Sector in Dubai Economy, said Engage DXB is the first virtual networking platform that connects all Dubai business groups and key stakeholders to communicate and share information on Dubai Economy and group activities. 

"The app serves as a communication channel to gather feedback and suggestions, network and share information on events or industry insights. It enables real time surveys administered by Dubai Economy to check feedback and can perform fast analytics."

Al Saadi said the Future Industry & Foresight Initiative has been launched in partnership with Frost & Sullivan Global to serve as a resource for businesses and industry on the trends, technologies and developments happening globally and locally. 

"Through the initiative, Dubai Economy will also work with various government entities in the emirate to ensure a future-ready business environment."

Wael Osman, director, strategy department in Dubai Economy, presented the Dubai Economic Strategy 2018-2021, with emphasis on its main axes of which the most important is enhancing the role of Dubai Economy in developing the overall economy in the emirate and positioning Dubai as a global economic research centre.

Alexandar Williams, director of Future Economy, presented preliminary findings of a survey on the state of future-readiness of Dubai's companies as well as the strategies to enable a future-ready economy.