The Year in Review October 2013 - October 2014

The American Business Council o f

D u b a i & t h e N o r t h e r n E m i r at e s CHAPTER, U.S. CHAMBER OF COMMERCE

Where Business Gets Done The Year

in

Review

2013 - T h e y e a r D u b a i w a s a w a r d e d Expo 2020!

Table of Contents Who We Are......................................................................................................................3

Mission...............................................................................................................................3

2014 Board of Directors.............................................................................................4

Thank You to our Supporters..................................................................................5

Affiliations

U.S. Chamber of Commerce................................................................................6

Dubai Chamber of Commerce & Industry..........................................................6

U.S. Mission in the U.A.E..........................................................................................6

MECACC...................................................................................................................7

Doorknock Washington, DC..................................................................................7

U.S.-U.A.E. Business Council.....................................................................................7

Publications

Membership Directory.............................................................................................8

Quarterly Newsletter................................................................................................8

Website......................................................................................................................8

ABC Highlights..............................................................................................................9

Community Celebrations..........................................................................................34

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ABC 2014

Who We Are The American Business Council of Dubai & the Northern Emirates operates under the auspices of the Dubai Chamber of Commerce & Industry and functions as a Chapter of the U.S. Chamber of Commerce. Since its founding in 1985, the American Business Council has supported U.S. business interests in Dubai & the Northern Emirates and acts as a liaison between government and commercial enterprises.

The American Business Council is a 500 plus member-driven organization. Fortune 500 companies and key business leaders are well represented among the members of the American Business Council. The American Business Council provides a forum for understanding and interaction between the local business community and members of the American Business Council. Members are supported through a robust calendar of informational programs, roundtable discussions, and business networking opportunities.

Mission We exist to: Act as the catalyst of American Business in Dubai & Northern Emirates.

Be the consolidated voice of the American business community.

Coordinate networking among Americans and with regional business communities.

Drive knowledge sharing and information distribution to facilitate and improve American business.

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A B C 2 014

2014 Board of Directors

Ramsey Jurdi President

Bilal Sabouni Executive Vice

Huw Gilbert Board Member

Paul L. Smith Board Member

Sammy Bousaba Vice President of Programs

Antoine Tayyar Vice President of Membership

Mohamad Itani Board Member

Zubair Razzaq Board Member

Matthew Ficco Vice President of Financial Affairs & Treasurer

Charles Laubach Vice President of Legal Affairs & Secretary

Kathleen Jones Board Member

President

Robert Bannerman Principal Commercial Officer U.S. Consulate Dubai

4

John Podgore Ex-Officio

Cara Nazari Executive Director

ABC 2014

Thank You to Our Supporters

President’s Club

Vice President’s Club

Strategic Partner

5

A ffil iat ion s

U.S. Chamber of Commerce The United States Chamber of Commerce (USCC) is the world’s largest business organization representing the interests of more than three million businesses of all sizes, sectors, and regions.

Members range from mom-and-pop shops and local chambers to leading industry associations and large corporations.

The Chamber is staffed with policy specialists, lobbyists, and lawyers. Politically, the Chamber is generally considered to be a conservative organization. The Chamber is one of the largest lobbying groups in the U.S., spending more money than any other lobbying organization on a yearly basis.

The U.S. Chamber of Commerce was created on April 22, 1912 by President Taft and celebrated it’s 100th anniversary in 2012. www.uschamber.com

Dubai Chamber of Commerce & Industry Dubai Chamber of Commerce & Industry is a leading chamber of commerce in the Middle East and has kept pace with the rise of the Emirate of Dubai as one of the fastest growing cities in the world. This apex facilitator of business serves over 100,000 members with world-class services and helps the business community develop its commercial activities and compete in the global market.

Dubai Chamber’s mission is to represent, support, and protect the interests of the business community in Dubai, while, its strategic objectives are to create a favorable business environment, support the development of business, and promote Dubai as an international business hub. The Chamber plays a significant role in enhancing competitiveness, voicing, and influencing policies of interests to its members and to local, regional and international authorities.

Dubai Chamber established 24 business groups representing different economic sectors in Dubai, 39 business councils which represent the Dubai-based foreign companies according to nationality, and 70 trade centers for a number of countries. www.dubaichamber.com

U.S. Mission in the U.A.E. In 2014, the U.S. celebrated 43 years of diplomatic relations with the United Arab Emirates. Working in cooperation with public and private partners across the U.A.E., the U.S. Consulate General in Dubai, along with the U.S. Embassy in Abu Dhabi, supports a range of programs reflecting the depth and breadth of the U.S.-U.A.E. diplomatic relationship.

The new Consulate General is a LEED-certified green building, with facilities that dramatically enhance its abilities to serve the public in Dubai and the Northern Emirates. The Consulate General hosts a public educational advising center, a service of the global EducationUSA advising program; each year, EducationUSA assists thousands of students in the U.A.E. who are considering study at one of the more than 4,000 accredited colleges and universities in the U.S.

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A ffili ation s

MECACC In recent years, the Middle East Council of American Chambers of Commerce (MECACC) has established itself as the voice of American business in the vital Gulf Region. An affiliate of the United States Chamber of Commerce, the MECACC comprises ten American chambers of commerce (AmCham) operating in the region.

MECACC was officially established in 1989. Since its inception, this voluntary, nonpartisan, and nonprofit organization has actively fostered improved economic relations between the U.S. and the GCC countries through trade and investment, as well as cross-cultural exchange and mutual understanding. The MECACC is widely recognized for its contributions in these areas, both in the U.S. and the Gulf, and it continues to play an instrumental role in building economic, political and cultural bridges between the two regions.

Together with its AmCham members, the MECACC has also worked hard to assist U.S. companies competing for a share of the region’s lucrative export market. Many of America’s competitors have developed sophisticated export strategies which provide strong, direct government support for their citizens and companies in overseas markets. The MECACC, working closely with the U.S. Government, is committed to leveling the playing field for American companies and going head-to-head with global competition. www.mecacc.org

Doorknock Washington, DC Every year a “Doorknock” delegation from ABC and MECACC visits Washington, DC and the U.S. Chamber of Commerce to represent American business interests. In 2014 MECACC continued their everlasting work to educate Congress and their staff about the Foreign Earned Income Exclusion (FEIE) in the context of job creation, exports, trade and economic growth. This effort remains a defensive play as well as an attempt to level the playing field for Americans living and working abroad. MECACC’s presence on the Hill again reinforced the message: Americans Abroad = U.S. Exports = Jobs at Home

U.S.-U.A.E. Business Council The U.S.-U.A.E. Business Council is a progressive business advocacy organization solely committed to the advancement of the trade and commercial relationship between the United States and the United Arab Emirates. The U.S.-U.A.E. Business Council provides its diverse membership unparalleled access to senior decision makers in business and government in the U.A.E. and in the U.S. The Business Council actively works to ensure that the U.S. and U.A.E. remain attractive destinations for foreign direct investment by conducting effective policy advocacy, undertaking various trade promotion initiatives, providing ongoing updates on the business climate in both countries, and helping develop strategic relationships between U.S. and U.A.E. business and government officials.

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P u blic at ion s

Membership Directory

,

As a valuable benefit to our members, the ABC publishes an annual membership directory, both in hard copy and with current updates online at www.abcdubai.com. The directory includes detailed information about members, both business and individuals, important information on doing business in the U.A.E., as well as contact information for regional AmChams and U.S. Government offices. This directory has proven to be an invaluable resource for business professionals, dignitaries and other interested parties within the U.A.E. and around the world.

RSHIP

MEMBE

TO R Y D IR EC 2013

Quarterly Newsletter ABC’s quarterly online newsletter includes relevant business topics, a calendar of events, U.S. Chamber of Commerce news and corporate news from ABC member contributors. The newsletter has a wide circulation including members, local and U.S. Government offices, friends of the ABC and regional AmChams.

Advertising opportunities are available.

Website The ABC website is the best resource for getting the most out of the ABC. The website gives the opportunity to join, generate business, raise awareness, create value, network, set up alliances and work together. The ABC creates valuable benefits to the membership through the online directory, business resources, advertising opportunities, member rewards, and event payment and registration. The ABC continues to enhance the site with the members in mind. www.abcdubai.com

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A B C H ighl ig h ts

ABC EVENTS The American Business Council actively represents U.S. business interests in Dubai & the Northern Emirates, while maintaining strong ties with the leaders of the communities in which their members live and work. This past year the ABC held an array of business events including: Our productive seminars from our popular Knowledge Exchange Series; Numerous business roundtables where member voices were heard; Most recently, the hugely successful, American Business Forum, I.D.E.A.S.; And in the spring we hosted the highest level Cabinet member in recent history, the U.S. Secretary of Commerce, Penny Pritzker.

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A B C H ighl ig h ts

Knowledge Exchange: ABC Hosts Sanctions Compliance Seminar October 23, 2013

O

n Wednesday, October 23 rd, the ABC

Mr. Jones remarked: “It is more important than ever for

hosted

and

companies and financial institutions operating in the

an

Economic

Compliance

Seminar

Sanctions

its

Middle East and beyond to remain vigilant and take

Knowledge Exchange Series. The speakers

as

part

of

a proactive approach to sanctions and other counter

- ABC President and Chadbourne & Parke International

illicit finance compliance matters.” Mr. Jurdi added:

Partner, Ramsey Jurdi; Ernst & Young Executive

“The U.S. Government continues to focus on enacting

Director, Stuart Jones Jr.; and United States Treasury

legislation and enforcing existing laws with respect to

Financial Attaché for the Gulf Region, Katherine Bauer

blocking access to the U.S. market for non-U.S. entities

- discussed in detail the intricacies of U.S. sanctions in

that continue to conduct significant transactions with

the Middle East and compliance challenges facing

Iran.”

businesses in the U.A.E. Each speaker, coming from three different industries, brought unique perspectives to the event.

ABC Hosts American Business Forum, I.D.E.A.S. November 10, 2013

T

he ABC, in strategic partnership with the Dubai

the Strata Global Foundries investment in New York State.

Economic

business

The principle behind the Forum is to bring together all

leaders from the U.S. and the U.A.E. to discuss

Council

(DEC),

joined

stakeholders in Dubai in order to explore ways to support

important business issues and solutions at the

trade and investment between the U.S. and the U.A.E.

annual American Business Forum, I.D.E.A.S., on Sunday, November 10, 2013 at the Grand Hyatt Dubai.

A major highlight of the Forum was the panel of experts discussion moderated by ABC President and Chadbourne

Hosted and organized by the ABC, the conference

& Parke International Partner, Ramsey Jurdi. The panel

highlighted the ongoing Economic Policy Dialogue (EPD)

included:

between the U.S. and the U.A.E., which served as the inspiration for the Forum. Since March 2012, the EPD has

His Excellency Hani R. Al Hamli

served as a government to government umbrella for new

Secretary General

and ongoing initiatives that are aimed at deepening

Dubai Economic Council

economic and commercial ties between the U.A.E. and U.S. The ABC, in seeking to actively engage all parties

Jeffrey L. Johnson

for the maximum benefit of the business community,

President

signed a Memorandum of Understanding with the DEC

Boeing Middle East

during the annual Forum, creating a solid partnership.

Given the close relationship between the U.S. and the

Imad Benmoussa

U.A.E., reinforcing the bond between the two countries

General Manager

is a priority, both economically and politically. Total trade

The Coca-Cola Export Corporation

between the U.S. and the U.A.E. reached a record-high of $24.8 billion in 2012, making the U.A.E. the largest trading

Frank J. Kemnetz

partner regionally with the U.S. Additionally, the U.A.E. was

Vice President

the 17th largest export destination for U.S. goods worldwide

ExxonMobil Upstream Ventures (Middle East)

in 2012. American businesses continue to capitalize on

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this momentum, while also strengthening the U.A.E.’s

Timothy J. Richards

economy. U.A.E. businesses are also increasing their

Managing Director, Government Affairs & Policy

investment opportunities in the U.S., for example through

General Electric

A B C H ighl ig h ts The panel discussed how challenges to the U.S.-U.A.E.

“In 2009, President Obama launched the National

bilateral trade relationship have been overcome to

Export Initiative to double U.S. exports in five years, thus

generate today’s strong and growing bilateral trade

creating jobs at home and economic opportunity

figures. The panelists’ dialogue consisted of topics

abroad. I’m pleased to report that here in the U.A.E.,

ranging from supply chain to education and how they

thanks in part to public and private advocacy, we are

successfully integrated into the U.A.E. business arena. This

not only on track to meet that goal but to exceed it.

distinguished panel cited many factors that contributed

Thanks to all of you here, we are ahead of schedule and

to their accomplishments including how the U.A.E. has

the National Export Initiative is alive and well here in the

employed farsighted leadership that is open to working

U.A.E.” His Excellency, Hani Al Hamli added, “The U.A.E. is

with international companies and is committed to

committed to promote bilateral cooperation with dozens

infrastructure and the best technology.

of countries around the world from the east to the west; however, we look at the United States as a strategic

The sector specific roundtables were facilitated by industry

partner, given the historic relationship between the two

leaders and focused on identifying challenges facing

countries. Furthermore, the structure and sophistication

particular sectors and harnessing potential synergies

of this relationship exceeds mere goods and services,

going forward. These break-out sessions included:

to cover a spectrum of activities including education, training, culture, healthcare, science and technology.”

Health Sector

Mr. Al Hamli praised the ABC for its enthusiasm and efforts

Hospitality, Travel, & Tourism

to underpin a concrete foundation for long-term and

Transportation, Logistics & GCC Customs

strategic partnership and also for the ABC’s initiative of

Technology & Interactive Media

holding a forum that brought together all stakeholders in

Oil, Gas, & Petrochemicals

Dubai and the Northern Emirates.

Infrastructure & Construction The event was sponsored by DynCorp International The opening remarks were given by U.S. Consul General

with support from the International New York Times and

in Dubai, the Honorable Robert Waller. Mr. Waller stated,

Khaleej Times.

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A B C H ighl ig h ts

ABC and AmCham Abu Dhabi Host Dubai Airshow Breakfast Featuring Assistant Secretary of Defense November 18, 2013

“The Department of Defense is improving the U.S. Government’s and U.S. industry’s

T

he

Abu

Acquisition, Technology and Logistics. Ms.

Dhabi held a breakfast meeting

ABC

and

McFarland began her civil service career

on

Monday,

AmCham

18,

at Headquarters Marine Corps, which

2013 at Dubai World Central

November

lead her to the Department of National

Headquarters on the sidelines of the

Defense in Ontario, where she performed

13th Dubai Airshow. Prominent members

Procurement Head of Electronics duties.

of the American business community

Her career progressed to Director for

came to hear insights from Ms. Katrina

Acquisition for the Missile Defense Agency,

G. McFarland, U.S. Assistant Secretary of

where Ms. McFarland’s advice led to over

Defense (Acquisition), regarding the U.S.

$37 billion of sole source procurement

defense

activity being opened up to competition.

sector.

Prior to becoming Assistant Secretary

ability to promote

The ABC-AmCham joint breakfast is held

of Defense (Acquisition) she served as

during each Dubai Airshow to support

President of the Defense Acquisition

and implement

the local American and Emirati business

University, where she continued to build

communities and their interaction with

the university’s outstanding reputation

defense exports

the many visiting U.S. aerospace and

as the Department of Defense’s primary

defense industry executives.

learning institution.

in support of our

profile event has become a tradition among U.S. military, diplomats, and local

The

foreign policy

and visiting industry CEOs. Attendees

showcase of aviation and air defense

included: U.S. Ambassador to the U.A.E.,

products in the Middle East and typically

and national

The Honorable Michael Corbin; U.S.

results in billions of dollars of aircraft and

Ambassador to the State of Qatar, The

defense contracts. This year’s show was

Honorable Susan L. Ziadeh; U.S. Consul

the largest in its history and was held at

General in Dubai, The Honorable Robert

the new Al Maktoum International Airport

Waller; Federal Aviation Administration

in Dubai. Matthew Byrd and Ramsey Jurdi

Director of Europe, Africa & Middle East,

expressed their enthusiasm for the strong

Catherine Lang; AmCham Abu Dhabi

presence of U.S. aviation and defense

Chairman, Matthew E. Byrd; and ABC

companies, which are key components

President, Ramsey Jurdi.

of American industry. ABC Dubai and

security objectives.

Current and future efficiencies achieved through these efforts will help us build, field, and support better defense equipment for ourselves, our allies, and our friends.”

This high-

Airshow

is

the

premiere

AmCham Abu Dhabi are proud to During

her

McFarland of

Defense

keynote stated, is

address,

“The

Ms.

partner with the Dubai Airshow, which

Department

uniquely showcases American businesses

improving

the

U.S.

operating in the U.A.E.

Government’s and U.S. industry’s ability to promote and implement defense

This joint event was sponsored by Aerojet

exports in support of our foreign policy

Rocketdyne, Lockheed Martin, Boeing,

and national security objectives. Current

DynCorp International, Bell Helicopter,

and future efficiencies achieved through

with support from Kallman Worldwide

these efforts will help us build, field, and

and Dubai World Central.

support better defense equipment for ourselves, our allies, and our friends.”

Ms. McFarland currently serves as the principal adviser on matters relating to acquisition to the Secretary of Defense and the Under Secretary of Defense for

12

Dubai

A B C H ighl ig h ts

13

A B C H ighl ig h ts

Arab Health Breakfast January 28, 2014

“The U.S. pavilion in 2014 is the largest ever.

Surely a clear indication

During his keynote address, Mr. Abuissa

Dubai & the Northern Emirates

highlighted a few of the opportunities

hosted industry leaders from all

the ABC Health Sector Task Force was

areas of the health sector, Arab

focusing on, and gave recommendations

Health exhibitors, local representatives,

for further expanding U.S. healthcare-

and government officials at its annual

related business in the U.A.E. In his

Arab

Tuesday,

comments, Mr. Abuissa noted “The task

January 28, 2014 at The Oberoi in Dubai.

force is charged with maximizing U.S.

Last year U.S. exhibitors at the Arab Health

business engagement in the U.A.E., and

Expo posted more than $200 million dollars

we need to work towards fostering a more

in sales and this year are on track to

informed conversation about health,

exceed this number. This strategic event

disease and treatments between patients

is held each year on the sidelines of the

and their healthcare practitioners. Seeing

Arab Health Expo and highlights the work

these challenges addressed will become

of the ABC Health Sector Task Force. The

a cornerstone of the health sector task

breakfast welcomed U.S. Ambassador

force for 2014.”

Health

Breakfast

on

to the U.A.E., The Honorable Michael Corbin; U.S. Consul General in Dubai,

As a key supporter of the Arab Health

The Honorable Robert Waller; Country

Breakfast and long term partner of the

Manager at Pfizer and Chairman of the

ABC, Tom Kallman stated, “The U.S.

ABC Health Sector Task Force, Zeydan

pavilion in 2014 is the largest ever. Surely

Abuissa; and host of the U.S. International

a clear indication that U.S. exporters are

Pavilion at Arab Health 2014 and CEO of

looking to the region for further growth.”

Kallman Worldwide Inc., Tom Kallman.

Other key guests included Regional ABC President, Ramsey Jurdi opened the

General Manager of the Middle East &

that U.S.

breakfast by saying “The U.A.E. has moved

Africa at Aetna International, Hisham

from a regional hub to an international

Radwan; President of the U.S.-U.A.E.

hub

Business

exporters

continues to offer significant business

Executive Director for the Center for Trade

opportunities for American business, and

Development, Office of International

the future is very optimistic. American

Business Development at the Pennsylvania

are looking

contributions will ease the transition to

Department of Community & Economic

the next level, and ABC’s objective to

Development, Peter O’Neill; Managing

be the voice of American business will

Director, Export Office at the Michigan

to the

bring added value to our members by

Economic

acting as an advocate for U.S. business

Deanna Richeson; and Deputy Secretary

interests in the U.A.E.” U.S. Consul General

and COO at the Wisconsin Economic

in Dubai, The Honorable Robert Waller

Development Corporation, Ryan Murray.

region for further growth.”

14

T

he American Business Council of

and

the

U.A.E.

health

sector

also addressed the group by noting the local business environment and the surge in bilateral trade between the U.S. and the U.A.E. over the past several years has contributed to the success of many American businesses at home. Following Mr. Waller’s remarks Mr. Jurdi introduced Zeydan Abuissa.

Council,

Danny

Development

Sebright;

Corporation,

A B C H ighl ig h ts

From left to right: Executive Director for the Center for Trade Development, Office of International Business Development at the Pennsylvania Department of Community & Economic Development, Peter O’Neill; Regional General Manager of the Middle East & Africa at Aetna International, Hisham Radwan; Deputy Secretary and COO at the Wisconsin Economic Development Corporation, Ryan Murray; Country Manager at Pfizer and Chairman of the ABC Health Sector Task Force, Zeydan Abuissa; U.S. Consul General in Dubai, The Honorable Robert Waller; U.S. Ambassador to the U.A.E., The Honorable Michael Corbin; Managing Director, Export Office at the Michigan Economic Development Corporation, Deanna Richeson; ABC President and Chadbourne & Parke International Partner, Ramsey Jurdi; host of the U.S. International Pavilion at Arab Health 2014 and CEO of Kallman Worldwide Inc., Tom Kallman; and President of the U.S.-U.A.E. Business Council, Danny Sebright.

15

A B C H ighl ig h ts

U.S. Secretary of Commerce Penny Pritzker Meets ABC Members March 10, 2014

T

he American Business Council

and politically. Total exports from

The luncheon featured keynote

of Dubai & the Northern

the U.S. to the U.A.E. reached

speaker H.E. Reem Al Hashimy who

Emirates, Dubai Chamber,

a record-high of $24.6 billion in

is also a decreed member of the

U.S. Chamber of Commerce,

2013, making the U.A.E. the largest

Expo 2020 Preparatory Committee,

Business

trading partner regionally for the

the executive body responsible

Council co-hosted U.S. Secretary

U.S. Additionally, the U.A.E. was

for the U.A.E.’s international bid

of Commerce Penny Pritzker at a

the 17th largest export destination

to host Expo 2020. Ramsey Jurdi,

luncheon in her honor on March 10.

for U.S. goods worldwide in 2013.

President of the American Business

Her Excellency Reem Al Hashimy,

American businesses continue to

Council and Chadbourne & Parke

U.A.E. Minister of State delivered a

capitalize on this momentum, while

International Partner stated, “Expo

keynote address that focused on

also

U.A.E.’s

2020 will showcase Dubai and the

Expo 2020 and the opportunities

economy. In Secretary Pritzker’s

U.A.E. in a way that will further

it will create. Among the 200 plus

initial press release announcing the

solidify Dubai’s reputation as an

guests, the luncheon welcomed

names of the 21 U.S. companies

infrastructure,

senior business executives, U.S. and

joining

and logistics hub. The American

U.A.E. government officials, and

states, “As the country’s Chief

business

local

Commercial

key

and primed to strengthen their

and

the

U.S.-U.A.E.

representatives.

strengthening

her

trade

the

mission

Advocate,

financial,

community

is

tourism, excited

part of my job is to promote trade

investments in Dubai and help

Secretary Pritzker was in the region

and investment and connect U.S.

deliver this event to the world.

leading a week long Infrastructure

businesses with potential customers

Secretary

Trade Mission to the Middle East

across the globe. The fact is that 95

Middle East further motivates U.S.

along with a high-level delegation

percent of customers worldwide

businesses to focus on this region

of diverse U.S. firms. This was the

live outside U.S. borders, and that is

and the opportunities that Expo

first visit of a sitting Secretary of

why promoting exports is essential

2020 will bring.”

Commerce with an accompanying

to our economic growth and job

trade mission to the region in fifteen

creation. The three countries we

President of the U.S.-U.A.E. Business

years.

are visiting on our trade mission to

Council, Danny Sebright stated,

The

mission

highlighted

Pritzker’s

visit

to

the

U.S.

the Gulf Region are among the top

“Trade is a key pillar supporting

businesses in three leading industry

50 export markets for the United

a strong, multi-dimensional, and

sectors with an emphasis on project

States. Since the launch of the

growing

management

National Export Initiative in 2010,

between the U.S. and U.A.E. The

export

opportunities

and

for

engineering,

bilateral

relationship

grid

exports have increased 111% to

U.A.E. is a critical hub through

and

the United Arab Emirates, 65% to

which the U.S. connects to key

environmental technologies. Given

Saudi Arabia, and 57% to Qatar.

markets in the broader Middle East,

the close relationship between the

Clearly, the Gulf region is a critical

Africa, and Asia.”

U.S. and the U.A.E., reinforcing the

area of focus for our nation and its

bond between the two countries

businesses.”

renewable and

energy,

energy

smart

efficiency,

is a priority, both economically

Co-hosted by The American Business Council o f

16

a

she

D u b a i & t h e N o r t h e r n E m i r at e s CHAPTER, U.S. CHAMBER OF COMMERCE

A B C H ighl ig h ts

David Chavern, Executive Vice President and Chief Operating Officer of the U.S. Chamber of Commerce; Ramsey Jurdi, President of the American Business Council and Chadbourne & Parke International Partner; H.E. Reem Al Hashimy, U.A.E. Minister of State; and Penny Pritzker, U.S. Secretary of Commerce.

17

A B C H ighl ig h ts

Farewell to Bob Bannerman March 18, 2014

goodbye au-revoir

ma’a as-salaama toodle-oo bye-bye cheers s a y o n a r a adios adieu

arrivederci thank you

ciao farewell best

O

regards

so long

cheerio aloha

auf-wiedersehen

n March 18th the ABC staff and members came together to honor the years of service that Robert Bannerman has dedicated to the United States Government. Bob will be leaving his post as the Principal Commercial Officer at the U.S. Consulate General in Dubai to build his dream house in North Carolina and partake in

some very well deserved fishing and rest and relaxation.

Previously, Bob served as the Deputy Senior Commercial Officer in Rome, Italy; the Principal Commercial Officer in Ho Chi Minh City, Vietnam; and as Commercial AttachĂŠ in Manila, Philippines and Beijing, China.

Thank you Bob! You will be missed but your work will always be remembered!

The ABC will forever be grateful for your contributions to the organization!

18

A B C H ighl ig h ts

Maryland Delegation Forum & Dinner April 23, 2014

T

he ABC in conjunction with the University of

Ramsey Jurdi, President of the American Business

Sharjah hosted an evening forum and dinner

Council and Chadbourne & Parke International Partner

at the Al Murooj Rotana Dubai in honor of a

stated, “Expo 2020 will showcase Dubai and the U.A.E.

delegation from the State of Maryland visiting

in a way that will further solidify Dubai’s reputation as an

Dubai. The delegation included John McDonough,

infrastructure, financial, tourism, and logistics hub. The

Maryland Secretary of State and Khalil Zaied, Baltimore

American business community is excited and primed to

City Deputy Chief of Operations.

strengthen their investments in Dubai and help deliver this event to the world. The State of Maryland’s Delegation visit

The delegation was visiting the U.A.E. on a mission from

to the U.A.E. further motivates U.S. businesses to focus on

Maryland to expand their economies in the region for

this region and the opportunities that Expo 2020 will bring.”

Expo 2020. Industries represented in the delegation include investment, academic and research institutions,

Other key guests included: The Honorable Michael

expansions services, construction equipment and parts,

Corbin, U.S. Ambassador to the U.A.E.; Nasir Abbasi,

and telecommunications equipment. Welcome remarks

Principal Commercial Officer at the U.S. Consulate

were given by The Honorable Robert Waller, U.S. Consul

General for Dubai; Dr. Hamdi Saleh, former Egyptian

General in Dubai. The forum highlighted the many

Ambassador and current Director of the International

opportunities that Expo 2020 will bring and how American

Relations Program at the University of Sharjah College of

businesses will be able to capitalize on this momentum,

Arts, Humanities and Social Sciences; Ahmed Al Banna,

while also strengthening the U.A.E.’s economy.

former Labour Ministry Assistant Under-Secretary; Anne Jafery, Managing Partner at June; and Tariq Nizami, founder and CEO of the CEO Club U.A.E.

Country Spotlight Series: Saudi Arabia April 29, 2014

S

potlight on Saudi Arabia was the third in a series of Country Spotlight events aimed at maximizing Dubai’s potential as a regional business hub. Spotlight on Saudi Arabia provided companies and individuals with the knowledge and contacts necessary to do business in Saudi Arabia, which is the largest market in the GCC. Discussions included the opportunities Saudi Arabia has offered, how to export to Saudi Arabia, how to establish a presence in Saudi Arabia, and what are the legal, tax and practical considerations.

Keynote Speaker, James Phipps shared insights based on his 20 years of work with Saudi Arabia and the region. Mr. Phipps lives in Riyadh and is the Principal Advisor to His Royal Highness Prince Abdullah bin Mosaad bin Abdulaziz Al Saud.

A major highlight of the conference was the panel of experts discussion including:

Nasir Abbasi - Principal Commercial Officer in Dubai at the Consulate General of the United States of America & Formerly the Principal Commercial Officer in Dhahran, Saudi Arabia Mohammed Al-Ghamdi - Partner, Mohammed Al-Ghamdi Law firm in Association with Fulbright & Jaworski LLP, Riyadh John C. Boehm - Partner, Fulbright & Jaworski LLP, Dubai.

Tax Speakers: Abdulkhamid Muminov - Tax Partner, PricewaterhouseCoopers, Saudi Arabia Ebrahim Baeshen - Managing Partner, KPMG, Jeddah Offices Nauman Ahmed - Middle East Tax Leader, Deloitte, Saudi Arabia Labor Speaker: Paul Lockyer - Senior Associate, Mohammed Al-Ghamdi Law firm in Association with Fulbright & Jaworski LLP, Riyadh Banking Speaker: Marcel Luckman - Assistant Vice President, Riyad Bank

“Country Spotlight events aim at maximizing Dubai’s potential as a regional business hub.”

19

A B C H ighl ig h ts

The 23rd Annual American Business Council Golf Tournament April 3, 2014

L

ast Thursday more than 100 ABC members and friends gathered for the 23rd Annual Golf Tournament at The Montgomerie. The day kicked off at 1:30 pm with a shotgun start in the Texas Scramble style tournament and ended with a BBQ dinner and fabulous door prizes. All players played an excellent game!

Results

1st Place - Fulbright & Jaworski Putting Pirates 2nd Place - DynCorp 3rd Place - Kellogg’s Nearest to the Pin - Alex Munro Longest Drive - David Anderson

A special thanks to Subway for providing lunch, Abella for providing the shawarma station, PepsiCo for providing the refreshments, and Yalda Trading for providing the fresh fruit.

Presented by

Sponsors

Strategic Partner

20

A B C H ighl ig h ts

21

A B C H ighl ig h ts

ABC & DIFC Co-host Atlanta Federal Reserve Reception May 11, 2014

T

he ABC in conjunction with the Dubai International

reduced. They may have to make policy and business

Financial Centre hosted a morning reception for

adjustments. This was the situation earlier this year, but

Dennis Lockhart, President and CEO of the Federal

since then conditions in most affected countries have

Reserve Bank of Atlanta. Mr. Lockhart discussed

stabilized or at least calmed.” Mr. Lockhart continued

the outlook for the U.S. economy and monetary policy

with his positive outlook; “I believe it is in the world’s

along with how developments in global markets

interest that the U.S. economy strengthens and that

influence his views as a policymaker.

the Federal Reserve pursues policies appropriate for, and supportive of, improving conditions. Also, with my

Jeff Singer, CEO of the DIFC gave opening remarks and

expectation that the United States will experience better

introduced Mr. Lockhart. Mr. Lockhart discussed in detail

economic growth over the medium term, I believe the

the intricacies of America’s effect on global monetary

outlook for emerging economies is also improved.”

policy; “The world watches U.S. monetary policy closely, and global capital flows are influenced by expectations

Other key guests included: The Honorable Robert Waller,

of Federal Reserve policy. Recent turbulence in certain

U.S. Consul General in Dubai and Ramsey Jurdi, President

emerging markets led to substantial controversy over

of the American Business Council and Chadbourne &

the effect of U.S. policy on the rest of the world. I’ll give

Parke International Partner.

you my perspective as one U.S. policymaker. Changes in U.S. financial conditions do affect interest rates and

The event was covered by Al Bayan, Bloomberg, CNBC,

asset prices in other countries through various channels.

CNN, Dow Jones, Gulf News, and Thomson Reuters.

U.S. central-bank policy influences capital flows and their effects, in turn, on the foreign exchange rate,

To read the entirety of Mr. Lockhart’s speech, please

equity markets and debt markets, both external and

follow

domestic. As a result, some emerging economies may

speeches/140511_speech_lockhart.cfm.

this

link:

http://www.frbatlanta.org/news/

face pressures when U.S. monetary accommodation is

The Honorable Robert Waller, U.S. Consul General in Dubai; Jeff Singer, CEO of the DIFC; Dennis Lockhart, President and CEO of the Federal Reserve Bank of Atlanta; and Ramsey Jurdi, President of the American Business Council and Chadbourne & Parke International Partner.

22

A B C H ighl ig h ts

Governor of Massachusetts, Deval Patrick Morning Reception June 4, 2014

T

he ABC hosted a morning reception honoring the Governor of Massachusetts, Deval Patrick and his delegation.

Governor Patrick led a coalition of government and industry leaders on an innovation mission to the United Arab Emirates to expand opportunities between the Commonwealth of Massachusetts and the U.A.E. for economic development and job creation in the innovation economy sectors. The purpose of the mission is to strengthen

relationships with key global centers of growth and foster new partnerships in the U.A.E. Governor Patrick’s delegation included representatives from: Adage Capital Management MassChallenge Grantham, Mayo, Van Otterloo & Co Massachusetts Competitive Partnership SolarOne Solutions Mintz Levin Cambridge Innovation Center Nano Terra Inc Foundation Medical Partners FastCAP Systems Corporation

Nasir Abbasi, Principal Commercial Officer at the U.S. Consulate General for Dubai; The Honorable Robert Waller, U.S. Consul General in Dubai; Governor of Massachusetts, Deval Patrick; Ramsey Jurdi, President of the American Business Council and Chadbourne & Parke International Partner; and Senator William Cowan, Senior Vice President and Chief Operating Officer of ML Strategies and Of Counsel to Mintz Levin.

23

A B C H ighl ig h ts

Spotlight Series: Africa September 15, 2014

O

n September 15 the ABC and the U.S.

chosen the U.A.E. as

Department of Commerce – International

their hub. American

Trade Administration (ITA) co-hosted the fourth

businesses

in a series of Spotlight events aimed at maximizing Dubai’s

continue to pick

potential as a regional trade hub: Spotlight on Africa.

the U.A.E. because of exactly the same

The seminar highlighted the importance of maximizing

factors that Davos considers, such

those unique opportunities given to companies operating

as infrastructure, macroeconomic

in Dubai and using Dubai as a business gateway to the

stability, and a capable workforce.

region, which serves as the inspiration for the Spotlight

U.S.-U.A.E. bilateral trade outpaces

series. The conference featured a panel of experts who

that of much bigger economies,

discussed the business climate, logistical, legal, financial,

such as Saudi Arabia and India,

security and safety aspects of doing business in the Sub-

precisely because of the competitive

Saharan and eastern regions of Africa. The presenters

stable

included: Zeydan Abuissa, Country Manager at Pfizer;

U.A.E. remains extremely well positioned for American

Ludwika Alvarez, International Trade Specialist at ITA; Zaki

businesses, and in particular doing business in Africa.”

economic

environment

in

and

the

U.A.E. The

Khoury, Regional Manager of International Organizations, Middle East & Africa at Microsoft; Donald Nay, Regional

Deputy

Senior Commercial Officer at ITA; *John Podgore, Partner

Corporation, Mohammad Ali Lootah, who addressed the

at Dechert LLP; and Robert Telchin, Senior International

attendees, stated: “I think the event is a good opportunity

Trade Specialist at ITA.

to highlight the opportunities for American companies in

CEO

of

the

Dubai

Export

Development

Africa. There are many promising figures here today, and Ramsey Jurdi, President of the American Business Council

the approach that ABC and American businesses are

and Chadbourne & Parke International Partner stated:

taking is good to encourage companies to do business

“The U.A.E. offers American businesses a fantastic

with Africa. There will definitely be obstacles in Africa

platform to expand in Africa. Given the recent upgrade

because it’s an emerging market, but I believe American

in the competitiveness ranking of the U.A.E. in the World

businesses can utilize the services of the U.A.E. and Dubai

Economic Forum Global Competitiveness Report from 19

government to better penetrate the region.”

to 12 is no surprise to me or that American businesses have Additionally, as part of the seminar, participants were able to book one-on-one meetings with the speakers on the following day. Jim Cramer, Office of the Middle East and North Africa, Global Markets at ITA stated, “This certainly takes the seminar to the next level. By hosting personal meetings participants were able to focus on identifying specific challenges facing their particular sectors and harnessing potential synergies going forward.”

Deputy CEO of the Dubai Export Development Corporation, Mohammad Ali Lootah, addresses the attendees.

24

*You can find John Podgore’s presentation article on the following pages.

FEATURE/ Africa

A B C H ighl ig h ts

Law Africanus

Africa teems with exciting prospects for those seeking to venture into this evolving global business hub. John Podgore and Tom Renwick of Dechert on lessons learned operating in the continent from Dubai.

Dubai in particular) as a hub. According to the Dubai Chamber of Commerce and Industry (the “Dubai Chamber”), Dubai’s non-oil trade with Africa increased by 141 per cent from AED37.9bn to AED91.3bn between 2008 and 2013. The Dubai Chamber recently opened its first ‘foreign’ office in Ethiopia, and it plans to open another in Ghana this year. Additional offices are envisioned for Mozambique, South Africa, Kenya, Uganda and Angola to further strengthen the business links between Dubai and Africa. The rise of Dubai as a hub for African business is nothing short of astounding.

“Africa represents our fastest-growing region in the world. If you want to be relevant, you need to be in this part of the world.”

– Dominic Barton, global managing director of McKinsey & Company

C

ultural and commercial links between the Middle East and Africa have existed from time immemorial and have always been strong. The Arabic-speaking North African countries aside, Arabic place names down the East Coast of Africa evoke a prior golden age of Arab trade, and the great mosques and universities of West Africa – well known to the great 15th century diplomat/adventurer/geographer Leo Africanus – all bear testament to the spread of Islamic culture across the continent.

Today, these links are being rapidly reinforced by modern businesses using the Arabian Gulf (and 32

ExCiting OppOrtunitiEs At the macro level, Africa presents some of the most exciting opportunities for investment in the world today. Private equity investment in Sub-Saharan Africa reached a five year high of USD1.6bn in 2013, according to the Emerging Markets Private Equity Association, and the World Bank forecasts an increase in economic growth in Sub-Saharan Africa from 4.7 per cent in 2013 to 5.2 per cent in 2014. Expanding middle classes hungry for consumer goods, healthcare and technology, countries eager to improve outdated infrastructure, as well as the traditional trade in Africa’s natural resources are all combining to propel Africa into the top rankings for growth. As a result, African countries now occupy no fewer than 10 of the top 25 slots for countries ranked by economic growth in 2013 by the CIA’s World Factbook, with seven of the 10 fastest growing economies in the world being African.

Dubai has without doubt become a major hub driving this growth, particularly in respect of “Equatorial Africa”, by which term we refer to the central swathe of African countries excluding a) North Africa/Greater Maghreb (with its traditional European links) and b) the “Southern Cone” of Africa (essentially the Republic of South Africa and the countries adjacent to it, with its natural hub in Johannesburg).

Interestingly, there is no natural hub for business within Equatorial Africa – and for a number of reasons companies doing business in that region (whether or not from the region) have increasingly turned towards Dubai as a base. These companies benefit from Dubai’s gateway geographical location, world-class logistics and infrastructure, business-friendly environment, the presence of major offices for regional and international banks and professional firms (lawyers, consultants, tax advisors, etc.), straight forward visa registration, stable currency and the ability to offer business travellers

Issue 32 • JULY/AUGUST 2014

25

Africa

A B C H ighl ig h ts or residents (and their families) a mix of comfort, security and entertainment not available in parts of Equatorial Africa. Dubai’s free zones offer easy set-up, 100% foreign ownership and a favourable tax regime, whilst Dubai’s airline, Emirates, offers routes to 25 destinations in Africa, with plans for further expansion in the future. Investors looking to buy into Africa are setting up alongside African companies present in Dubai looking to do business with the rest of the world.

Dubai now finds itself sitting comfortably astride the flow of investment into the continent. Arif Naqvi of Dubai’s Abraaj private equity group, which has approximately USD7.5bn in assets under management in Africa, says the continent represents “…an extremely exciting and compelling investment opportunity…”.

Top-tier Dubai-based conglomerates, the Al Futtaim Group and Majid Al Futtaim both plan to enter or expand in Equatorial Africa, with other Arabian Gulf-based, family-owned investment vehicles and international private equity houses set to follow suit.

Dubai’s port operator, DP World, has operations in five African countries, representing both investment into the continent and dedication to improving logistics links between Africa and the Arabian Gulf (to facilitate, amongst other things, the flow of food from African agribusiness to Arabian Gulf consumers).

Dubai’s banks, too, are focusing on Africa, with banking revenues for African business for some banks quadrupling in the space of five years, across conventional and Islamic banking. Chinese banks are setting up in the Dubai International Financial Centre with an eye on Africa as well, and Bank of China has positioned a dedicated Africa team in Dubai to service the business of Chinese companies investing in Africa’s resources, infrastructure and consumer market.

WOrds Of AdviCE From our own experience of operating in Equatorial Africa from Dubai, we offer the benefit of some lessons learned: » Do make sure that you are prepared to travel to the region – a credible Equatorial Africa practice comes from the capability and willingness to deploy resources at a moment’s notice. This means, amongst other things, being up-to-date on vaccinations and being able to prove it, so as not to be faced with the choice upon arrival at an airport in Equatorial Africa of (a) paying USD25 for a yellow fever jab (which doesn’t provide protection from the disease until several days after vaccination) and for the World Health Organisation “yellow certificate” that accompanies it or (b) paying USD15 for a bogus yellow certificate without the jab… » Don’t expect deals to run smoothly – expect the unexpected and be prepared for protracted dealings with governmental bodies and regulators which may be genuinely keen on foreign investment

but vexingly inexperienced at facilitating it. A transactional lawyer with real Equatorial Africa credentials will have spent many a day “camped out” in the reception areas of various government ministries; it’s how the game is played. » Don’t assume what has worked in one jurisdiction will be accepted in the neighbouring jurisdiction.

Unlike the Arabian Gulf, where ‘cross-pollination’ in respect of legal practice is the norm (largely the result of the same lawyers covering multiple Arabian Gulf jurisdictions, coupled with the legacy of Egyptian jurist Abdel Razzaq Al-Sanhouri – and, for example, making major transactions in Qatar very similar to major transactions in Kuwait) – legal practice in the various jurisdictions comprising Equatorial Africa has developed very independently.

Be prepared for very different approaches to transactions across the various jurisdictions, even from one civil law jurisdiction to the neighbouring civil law jurisdiction – and between neighbouring common law jurisdictions. » Don’t fall foul of extra jurisdictional anti-corruption legislation. The use of payments to facilitate business is not always viewed as dimly in parts of Equatorial Africa as it is in other jurisdictions; be mindful of the restrictions that apply to you, your company and your client, and be prepared to explain them to others, including to those who might request such payments. » On a related note, do not be surprised if a due diligence question to a seller concerning payments to government officials is met with a “Yes, of course we make payments to officials!”. » Do choose local legal advisers very carefully. Many truly great, and truly local, law firms are found in Equatorial Africa, but the standard of local legal advice is not uniform across the region or even across the various offices of firms present in multiple jurisdictions within Equatorial Africa. Having international legal counsel with Equatorial Africa credentials, and existing local counsel relationships, at your side helps to navigate through a potential minefield of local law and legal practice.

1

2

Text by: 1. John Podgore, partner, Dechert LLP 2. Tom renwick, associate, Dechert LLP theoath-me.com • the Oath

26

33

A B C H ighl ig h ts

Knowledge Exchange: Foreign Corrupt Practices Act September 24, 2014

O

n September 24 John Lonsberg and Stephen Matthews both Partners at Baker Botts examined the latest on the Foreign Corrupt Practices Act (FPCA). The experts discussed the complexities of the FCPA and emphasized recent trends in FCPA enforcement including the use of monitors and deferred prosecution.

The objective was to show the risks in the FCPA arena as well as the high cost of defending actions

under the FCPA to encourage corporate clients to utilize compliance programs.

“Historically, U.S. business felt that the U.S. FCPA put it at a disadvantage in the global marketplace. The current reality is that anti-corruption enforcement on both a domestic and international basis has become a major focus of governments across the world, including in the Middle East. In view of this development and the current enforcement strategies being employed by the U.S. Department of Justice and the Securities Exchange Commission, it is fundamental for persons operating in high risk environments that they have a strong working knowledge of the application of both U.S. and other applicable anti-bribery regimes.“ -John Lonsberg

27

A B C H ighl ig h ts

Emirati Alumni of U.S. Universities - Renewing the Connection September 30, 2014

“Education

T

his annual event highlighted

Americans through travel, tourism,

the strong bonds that exist

and study at colleges and universities

between the U.A.E. and the

across the United States.”

U.S. and stressed the role that higher

is the most important thing in any civilization,

education

bringing

The impressive turnout of distinguished

communities closer together. Since

can

play

in

guests included a host of senior level

2009, the number of Emirati’s studying

Emiratis

in the U.S. has increased by 40%. From

National alumni from U.S. universities,

2012 to 2013 there was an increase of

and representatives from American

2,256 Emirati students studying in the

University in Dubai, EducationUSA,

U.S., roughly 7.6%. With this number

and NYU Abu Dhabi.

The ABC was able to hold this

and U.A.E. and will be reflected in

complimentary

American business and bilateral trade

National alumni and ABC members

between the two countries.

thanks to the gracious support of the

His Excellency Hisham Al Shirawi, Vice Chairman of Dubai Chamber of Commerce & Industry presented keynote

importance Excellency

address of

stressing

the

education.

His

received

an

MBA

in

and BS in Electrical Engineering from University of Southern California.

At

no sustainable

the

reception,

highlighted

the

His

Excellency

importance

of

education: “Education is the most important thing in any civilization,

civilization,

without education there would be no sustainable civilization, no sustainable growth, no sustainable development.”

He continued to elaborate specifically

no sustainable

on the impact of attending university in the U.S. had on him: “…the impact of those years I spent in the States are

growth, no

irreversible they are carved into my memory, my personality.”

The Honorable Robert Waller, U.S.

sustainable

Consul General in Dubai, noted, “Our strategic partnership is made more resilient by the number of Emiratis who have come to know America and

development.”

28

event

for

U.A.E.

American Hospital Dubai and Carian

Finance from California State College

there would be

executives,

the relationship between the U.S.

a

education

business

increasing every year, it solidifies

The honored guest of the evening,

without

and

College

Advisors.

A B C H ighl ig h ts

29

A B C H ighl ig h ts

The 3rd Annual American Business Forum, I.D.E.A.S. October 28, 2014

between the two countries is a priority,

I. D. E. A .S.

both economically and politically.

The U.A.E. was the 17th largest export destination for U.S. goods worldwide, and the bilateral trade balance stands

I dentif y D efine E xecute A nalyze S trengthen

at $22.30 billion as of 2013, making the U.A.E. the largest trading partner

American Business Forum

T

regionally with the U.S. American businesses continue to capitalize on

he

ABC

brought

together

Director, Government Affairs & Policy,

business leaders from the U.S.

at General Electric; Paul L. Smith,

and the U.A.E. to participate

Corporate Vice President, MEA at

in the third annual American Business

Emerson;

Forum, I.D.E.A.S. (I.D.E.A.S.), designed

President & Managing Director of

to Identify Define Execute Analyze

General Motors Middle East Operations.

and

Strengthen

regional

and

Maurice

Williams,

business

opportunities, on Tuesday, October

During the keynote address presented

28, 2014.

by Nenad Pacek, Co-founder of CEEMEA Business Group, Mr. Pacek

I.D.E.A.S.

challenged

to

examined the future of business in

think critically about the American

the Middle East and Africa region,

competitive advantage in the Middle

and what companies need to do to

East and how to leverage the U.S.-U.A.E.

outperform competition in the coming

bilateral trade relationship. Business

years. He also provided an economic,

leaders were able to capture these

business, and political outlook per

insights to aid their own organizations

market

and harness potential synergies going

Pacek briefly talked about the global

forward.

Antonio

business and economic environment

Carvalho, Partner at Oliver Wyman,

and how this might impact business

the

dialogue

operations in this region. Furthermore,

covered a range of topics including:

he highlighted which issues regional

utilizing Dubai as a hub; planning

directors are struggling with at the

for

moment

Moderated

executive

regional

leaders

by

panelists’

security

and

health

for

the

and

whole

offered

area.

some

Mr.

best

concerns; preparing for EXPO 2020;

practices for how to handle those

and examining diversity and inclusion.

challenges.

The panel cited many factors that contributed to their accomplishments,

I.D.E.A.S. sought answers to critical

such as how the U.A.E. has employed

business issues in support of the

farsighted leadership that is open to

ongoing Economic Policy Dialogue

working with international companies

(EPD) between the U.S. and the U.A.E.,

and is committed to infrastructure

which served as the inspiration for

and the best technology, evidenced

the forum. Since March 2012, the

through its Smart City vision and

EPD has served as a government to

commitment to the space program.

government umbrella for new and

The

ongoing initiatives that are aimed at

distinguished

Jeffrey

30

L.

panel

Johnson,

included: of

deepening economic and commercial

Boeing Middle East; Nenad Pacek,

ties between the U.A.E. and U.S. Given

Co-founder

Business

the close relationship between the U.S.

Group; Timothy J. Richards, Managing

and the U.A.E., reinforcing the bond

of

President

CEEMEA

this momentum while continuing to strengthen Dubai’s economy. Ramsey Jurdi,

President

of

the

American

Business Council and International Partner

at

Chadbourne

&

Parke

stated: “With the recent upgrade in the competitiveness ranking of the U.A.E. in the World Economic Forum Global

Competitiveness

Report

from 19 to 12, it is no surprise that American businesses have chosen the U.A.E. as their hub. American businesses

continue

to

pick

the

U.A.E. because of exactly the same factors that Davos considers, such as

infrastructure,

macroeconomic

stability, and a capable workforce.

U.S.-U.A.E. bilateral trade outpaces that of much bigger economies in the region, precisely because of the competitive and stable economic environment in the U.A.E. The U.A.E. remains extremely well positioned for American

businesses.”

A B C H ighl ig h ts

Nenad Pacek, Co-founder of CEEMEA Business Group; Timothy J. Richards, Managing Director, Government Affairs & Policy, at General Electric; Jeffrey L. Johnson, President of Boeing Middle East; Ramsey Jurdi, President of the American Business Council and International Partner at Chadbourne & Parke; Paul L. Smith, Corporate Vice President, MEA at Emerson; Antonio Carvalho, Partner at Oliver Wyman; and Maurice 31 Williams, President & Managing Director of General Motors Middle East Operations.

A B C H ighl ig h ts

American Citizen Services Day & General Meeting October 15, 2014

ABC welcomed members and friends to American Citizen Services Day. Guests were able to meet and greet the U.S. Consul General in Dubai, The Honorable Robert Waller and his team to learn what they do at the Consulate for American citizens. The Consulate provided specific services for including passport renewals for drop off, additional visa pages for drop off, notaries, authentications, social Security Number applications, and voting materials.

Additionally, as a part of the program, Dr. Houriya Kazim briefed guests on breast health and care in the U.A.E. as a part of Breast Cancer Awareness Month. Dr. Houriya Kazim attended medical school at the Royal College of Surgeons in Ireland, obtained her fellowship in General Surgery, then sub-specialized in Surgical Oncology and, in particular, Breast Surgery and reconstruction at the Royal Marsden Hospital in London and the MD Anderson Cancer Centre in Houston, Texas. Dr. Kazim is a U.A.E. national and the country’s first female surgeon. She is the Medical Director and founder of the Well Woman Clinic. Additionally, she founded and runs the only breast cancer support group in the city called “Brest Friends” as well as a breast cancer charity, also known as, “Brest Friends.”

Community Partners

32

A B C H ighl ig h ts

ABC Co-hosts Sharjah-U.S. Roundtable with Shurooq November 16, 2014

C

ontinuing its commitment to promoting Sharjah

The welcome notes were followed by a presentation on

as a world-class destination for international

investment and tourism projects by Shurooq CEO Marwan

investment, Development

the

Sharjah

Authority

Investment

and

Al Sarkal, which gave an overview of the four key sectors

(Shurooq)

held

identified by Shurooq as major areas of potential growth,

a Sharjah-U.S. Business Roundtable, which was in

namely travel and tourism, environment, healthcare,

collaboration with the American Business Council of

and transport and logistics. The presentation also

Dubai & the Northern Emirates at the Sharjah Chamber of

highlighted a number of projects the groundbreaking

Commerce and Industry on November 16, 2014.

tourism projects being undertaken by the Authority, including: Al Jabal Resort – The Chedi Khorfakkan, Sir

The Roundtable formed the most recent of a number

Bu Nair Island, Mlieha Eco-tourism project, the Heart

of initiatives and events by Shurooq to encourage

of Sharjah, Al Bait Hotel, Al Majaz Waterfront, the Flag

investment from the U.S. Speaking during her opening

Island, the Kalba Eco-tourism project, Al Montazah

address, Sheikha Bodour bint Sultan Al Qasimi reaffirmed

Amusement and Water Park, and Al Hisn Island – Dibba

the strong ties that exist between Sharjah and the U.S.

Al Hisn. Al Sarkal emphasised that through these projects

“Sharjah and the U.S. are no strangers. We have a long

Shurooq aims to stimulate the local economy, while also

and successful shared business history that has brought

providing foreign investors with unique opportunities to

benefit and progress to both our countries. Our emirate

leverage on the exceptional development that Sharjah’s

is growing, and I am very pleased that the American

tourism and leisure sector is currently experiencing.

business communities have been and continue to be very important partners in this growth.”

Ramsey Jurdi, President of the American Business Council and Chadbourne & Parke International Partner commended the efforts of Shurooq in promoting Sharjah within

the

American

business

community,

stating,

“Shurooq has done a remarkable job in building the U.S. – U.A.E. relationship. There are very few organizations operating in the U.A.E. that are as active, as ambitious, or as successful in their investment activities as is clearly evident from the numerous events such as this one today and the high level of interest in Sharjah that the Authority has created within the American business community.”

Knowledge Exchange: Real Estate in the U.A.E. - the Amazing Decade November 19, 2014

S

hahram Safai, Partner at Afridi & Angell, who is a leading authority on property law in the U.A.E., will surveyed the introduction and development of the freehold market in real estate in the U.A.E., focusing on Dubai which has experienced phenomenal growth in the past decade. Participants walked away withe answers to: is

foreign ownership of real estate the same as that of U.A.E. nationals? Where are real estate prices headed – up or down? What about rent? How much power do landlords have over tenants? What are the laws regarding off-plan purchases?

33

Com m u nit y Ce l e br at ions

Christmas in the Desert December 14, 2013

M

ore than 150 ABC members and their families gathered in the desert for the annual ABC Christmas celebration. The desert camp served as our own winter wonderland, complete with a Christmas tree garden, Christmas shops, Santa Claus, Christmas activities for the kids, carolling during the Christmas tree lighting ceremony, and a delicious Christmas meal that was catered by, the famous, Abela.

34

Comm unit y Celebr ation s

35

Com m u nit y Ce l e br at ions

Independence & Memorial Day Celebration May 30, 2014

T

he ABC celebrated the 4th of July early this year. More than 500 members, family, and guests gathered for fun with our traditional events including: fireworks, a BBQ dinner, DJ & dancing, and fun Olympic games. Turn the page to check out all the pictures!

Presented by

Red Sponsors

Blue Sponsors

Strategic Partner

Grand Prize Sponsors

Media Sponsors

Support Sponsors

36

Comm unit y Celebr ation s

37

37

30 Keep

watch to see what

ABC

has in store for you as we turn

30

in

2015.

M a r c h 6, 2015 J o i n u s a t t h e ABC G a l a a s w e C e l e b r a t e 30 y e a r s o f s u cc e s s !

The American Business Council o f

D u b a i

&

t h e

N o r t h e r n

E m i r at e s

Chapter, U.S. Chamber of Commerce

PO Box 74648, Dubai, U.A.E. Tel: +971 4 379 1414 • Fax: +971 4 379 1515 www.abcdubai.com • info@abcdubai.com