Dubai Chamber - 50 Years

SPECIAL REPORT

OCTOBER 4, 2015

SPECIAL REPORT

OCTOBER 4, 2015

EDITORIAL

Editor Rohit Saran Supplements Editor Suchitra Steven Samuel Sub-Editor Sadiq Shaban Reporters Farhana Chowdhury Suneeti Ahuja-Kohli

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Designers Mohammad Ejaz Khan Sidharthan Imaging Venugopal Prabhu

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Pillar of support for the business community Dubai Chamber's achievements strengthen Dubai’s reputation as a leading investment destination

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iFty years ago, Dubai set out to create a business-friendly environment that would make it a leading business hub. since then Dubai Chamber of Commerce and industry has become an integral part of Dubai’s growth story. the 50th anniversary of Dubai Chamber this year is a time to reflect upon its achievements over the years and look at its evolution as a major entity with global potential.

Back in 1965, Dubai Chamber started as a majlis hosting traders, businessmen, government officials and ambassadors. thirty years later, in 1995, the Chamber unveiled its iconic Dubai Creek headquarters, which became a physical landmark celebrating the place where Dubai’s trading heritage was born. By the time it turned 40, the Chamber had become the hallmark of Dubai’s

phenomenal growth — its infrastructure and ingenuity. starting its activities with just 450 members, the Dubai Chamber today comprises more than 170,000 members.

While in 1975 the number of registered members was less than 2,000, this figure increased to 10,934 in 1985. the Chamber achieved 18 per cent increase in new members during the last year with the addition of 16,198 new companies in 2014 compared to 13,692 in 2013. Over the past 10 years, the Chamber’s membership has gone up by 125 per cent.

Besides, what began as a provider of just 10 services in 1965, Dubai Chamber has grown to a major driver of business growth in Dubai, offering more than 70 services and initiatives. While in 1975, over 10,000 certificates of origin were issued by the Chamber, this figure grew to 823,792 in 2013 and further to 887,078 in 2014. the Chamber identified long back that participation in outbound delegations is critical to enhance business growth in Dubai. even as far back as 1983, it organised 17 exhibitions with more than 70 delegations visiting Dubai from as many as 28 countries.

in 2014, the Chamber organised delegations to 37 different countries and 47 cities. the delegations also attended 73 events during the year. the period also witnessed 427 inbound delegations with 2,000 visitors.

Playing an active role in mediation, the Chamber received 389 cases in 2014. it also received 174 arbitration cases during the year.

With the Uae marking 2015 as the ‘year of innovation’, Dubai Chamber is focusing on innovation as the main pillar of development as it celebrates its 50th anniversary this year. the launch of an indicator to measure innovation, and a laboratory to produce innovative ideas in the private sector are among the initiatives launched under the innovation theme of the Chamber’s celebrations. today, up to 60 per cent of the Chamber’s services are offered on smart platforms.

Being an integral component of the Dubai community, Dubai Chamber has launched the ‘tawazun’ programme to establish a culture of balance in the community. the programme is part of the Chamber’s ‘My Happiness’ initiative, aimed at

KHALEEJ TIMES | SPECIAL REPORT | OCTOBER 04, 2015

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raising the level of staff and customer satisfaction.

Dubai Chamber served about 315,000 customers in 2014. Over the years, the Chamber has been focused on improving customer service and the efforts have paid off as 73 per cent of its customers were served within six minutes.

The Chamber has made notable achievements in economic research with the preparation of 17 business intelligence reports, and 11 market, sector and economic trends reports. Its economic research department also published 48 economic bulletin articles and 24 trade and investment briefs.

Dubai Chamber has made significant contributions to entrepreneurship development, and its Tejar Dubai entrepreneurship development programme witnessed heightened activity in 2014 with the recruitment of more than 500 candidates. During the year, 61

The Chamber has made notable achievements in economic research with the preparation of 17 business intelligence reports, and 11 market, sector and economic trends reports. Its economic research department also published 48 economic bulletin articles and 24 trade and investment briefs. projects were assessed under the programme while 170 one-to-one consulting sessions were organised with Tejar Dubai candidates.

Having embraced everything that Dubai has stood for, Dubai Chamber has shown that Dubai’s success is its own success. Its crucial support to the business

community in the emirate all through the last 50 years has contributed to making Dubai a leading regional commercial hub with state-of-the art infrastructure and a world-class business environment.

Today, Dubai Chamber’s ambitious plans have taken it to overseas markets where it is

actively involved in efforts to connect Dubai’s business community to a range of markets from central Asian countries and West Africa to Latin America. With its global potential, the Chamber will continue to represent Dubai’s development agenda and strengthen Dubai’s reputation as a leading investment destination.

Shaikh Rashid Al Maktoum (left photo) at an exhibition of products from Pakistan in 1977 and His Highness Shaikh Mohammed bin Rashid Al Maktoum (right), Vice-President and Prime Minister of the UAE and Ruler of Dubai, inaugurating a Chinese exhibition in 1978.

A crucial link in Dubai’s success story Inspired by the UAE's leadership, Dubai Chamber aims to continue its pursuit for excellence and take Dubai’s business community to new levels of growth

His Excellency Hamad Buamim president and CeO, Dubai Chamber of Commerce and Industry

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n an attempt to explore the history and development of Dubai’s business environment over the past decades, Khaleej times met His excellency Hamad Buamim, president and CeO, Dubai Chamber of Commerce and Industry, as the Chamber celebrates the 50th anniversary of its founding. Dubai Chamber has been the voice of the private sector in Dubai and has helped enhance partnerships and cooperation between the private and public sectors.

Speaking to the newspaper, H.e. Buamim said the success and expansion of Dubai Chamber is a crucial element in Dubai’s growth story from a small town, where people lived on fishing and trading, to a thriving international commercial hub where people from all parts of the world come to live and work. During the last 50 years, Dubai Chamber has taken major leaps, progressing from an entity that offered just 10 services in 1965 to an institution offering more than 70 services and initiatives today. What is more, as much as 60 per cent of these services are smart services, which have contributed significantly to the growth of Dubai’s private sector in the highly competitive global markets. excerpts: Fifty years is not a short period of time. How did the Dubai Chamber begin its journey, and

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KHALEEJ TIMES | SPECIAL REPORT | OCTOBER 04, 2015

1979: Queen Elizabeth of the UK during a visit to the UAE.

1981: Saif Al Ghurair with Indira Gandhi, former Prime Minister of India.

what are the main stages and success milestones during this period? there is no doubt that these five decades have seen huge efforts, especially considering that Dubai Chamber has moved from resolving trade disputes and

reviewing local legislation to a key entity that contributes to every development aspect of the private sector in Dubai. Its growth from an organisation with just 450 members in 1965 to more than 170,000 members reflects the significant status of the Chamber

in Dubai’s business community.

When it was founded, Dubai Chamber functioned from a small apartment with just 10 employees.

At that time, its main effort was to facilitate the business operations of Dubai traders. Today, we have specialised departments, operating from one of the most prominent and eco-friendly offices in the world. We have more than four overseas offices and our strong external relations network has become a focal area of our strength. Through these offices we have been able to drive growth and development policies, especially since we represent the International Chamber of Commerce and its World Chambers Federation in the region.

The vision of our country’s leadership and their support has brought us to where we are today.

Our pursuit for excellence has been inspired by them. At this point, we are not content to rest on our laurels, as we are aware that our future lies in taking Dubai’s business community forward to new levels of growth; at the forefront of an innovative and successful business communities.

Can you summarise for us a statistical view of the most notable achievements of Dubai Chamber?

The number of our members has increased from 450 in 1965 to 170,000 members at the end of 2014. While we issued 7,800 certificates of origin in 1973, by the end of 2014 this figure grew to 877,000. In 1965, we offered only 10 services but today we offer more than 70 services and initiatives. From a Dubai-focused entity in the 1960s and 70s, Dubai Chamber has today expanded its reach to central Asian countries, West Africa and all the way to Latin America. Our efforts in attracting exhibitions, conferences and international meetings have transformed Dubai into a hub of exhibitions and international conferences.

We have not only attracted the most prominent global exhibitions and meetings to Dubai but also launched special forums such as the Africa Global Business Forum and the Global Islamic Economic

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Old building of Dubai Chamber.

In the 80s and 90s, Dubai Chamber began to focus on the growing commercial role of Dubai in the Middle East, and received and sent out business delegations, inviting countries and private sector entities from around the world to make use of Dubai’s capabilities and infrastructure as a regional business hub.

Construction of the new Dubai Chamber building.

Summit, which take place in the presence of top decision makers.

In terms of visiting delegations, we witnessed remarkable growth from 50 delegations annually in the 70s to more than 400 delegations in 2014, which point to our key role in the growth of Dubai’s economy.

How has Dubai Chamber progressed in terms of the quality of services provided in the last 50 years?

Ever since its founding 50 years ago, Dubai Chamber has been the main engine of trade growth in Dubai, contributing to the development of the emirate’s economy by helping resolve trade disputes, reviewing local legislation and creating a favourable atmosphere for investment and business. In the early years, the Chamber was focused on arbitration initiatives between conflicting parties, providing recommendations and studies to the Ruler and working

KHALEEJ TIMES | SPECIAL REPORT | OCTOBER 04, 2015

Dubai Chamber building

on certification and documentation, as well as receiving various delegations daily.

Later, Dubai Chamber was involved in the study of new laws related to Dubai Customs and bounced cheques. The Chamber also looked at issues related to commercial agencies and monitored market prices.

In the 80s and 90s, Dubai Chamber began to focus on the growing commercial role of Dubai in the Middle East, and received and sent out business delegations, inviting countries and private sector entities from around the world to make use of Dubai’s capabilities and infrastructure as a regional business hub. The results were impressive as the Chamber initiatives led to 30 countries establishing trade centres in Dubai, while more than 100 multinational companies opened their representative offices in Dubai to manage their regional operations.

At the turn of the century, Dubai Chamber began to establish official-level contacts around the world to study the concept of e-commerce and launched its website, which contributed to a major leap in the quality of

50 YEARS

Congratulations on your half-centenary!

Emirates NBD extends warm wishes to Dubai Chambers for completing 50 years.

business services, not only at the local level, but also at the regional and global levels.

During this period, Dubai Chamber services to the business community in Dubai included the issue of certificates of origin, commercial and export documentation and provision of legal services. The Chamber also received delegations and businessmen and provided support for groups and business councils.

What distinguishes the work of Dubai Chamber and its activities in the last decade?

Dubai Chamber has not swayed away from its fundamental pillars with regard to the current and future strategies. The Chamber is focused on customer service, smart transformation, external expansion and efforts to establish the reputation of Dubai as a major business hub. We have achieved major breakthroughs in the diversification of services and

improvement in the quality of services. Customer satisfaction is the foundation of all our services and our efforts to enrich the customer experience has helped more than 70 per cent of our customers to perform their transactions in less than six minutes. We are trying to reduce this time period further to enhance the experience of the business community.

The most distinguishing feature of our operations is our transition to smart services in line with the vision of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai a smart city. As part of our smart shift, more than 60 per cent of our services are being offered on smart platforms. We have launched a smart membership application that eases the membership and documentation process for our customers. Our

‘Africa Gateway’ smart application helps promote business in Africa by providing detailed information and data on a number of investment opportunities in African markets.

We are currently working on a smart application to facilitate communication between companies and support business growth by building new business relations through meetings. We are also developing smart applications to review investment opportunities in our target markets such as CIS (Commonwealth of Independent States) and Latin American markets.

Certainly, our overseas expansion is an essential part of our efforts to be at the forefront of outstanding business communities. Our offices cover most of the world markets, while foreign commercial missions highlight our global potential and draw the attention of businessmen and investors in

Dubai to the promising opportunities in these markets.

Our effort is to strengthen the competitiveness of our companies and Dubai’s reputation as a leading investment destination.

What are the main initiatives launched by Dubai Chamber that will support your efforts in the coming period?

We have recently launched the ‘Tawazun’ programme as part of the Chamber’s ‘My Happiness’ initiative to raise the level of staff and customer satisfaction. The ‘Tawazun’ programme seeks to establish a culture of balance in the community in harmony with the dynamic economic development of Dubai.

The programme is based on three main pillars addressing various segments of the society.

The first pillar aims to promote a balance between social and professional life, while the second pillar targets balance between real

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and digital life. The third pillar focuses on balance in work and business environment. The Chamber will activate the three pillars through a series of campaigns, activities and services in order to achieve the targeted balance in the community.

We have also launched an indicator to measure innovation, and a laboratory to produce innovative ideas in the private sector. These initiatives have been launched within the framework of Dubai Chamber's Innovation Strategy to stimulate economic growth based on three pillars, which are — create a conducive environment for business in Dubai; support business growth; and promote Dubai as an international business hub. Dubai Chamber’s innovation strategy highlights our deep understanding of the role of innovation and its importance in all sectors in Dubai.

This new strategy will be the focal point of our efforts in the

coming years in line with the strategic objectives of Dubai as envisaged in the themes of the Dubai Strategic Plan 2021, especially to become a pivotal hub in the global economy. The strategy will also contribute to attracting foreign direct investment and enhancing the competitiveness of the business community.

Dubai Chamber plans to invest Dh100 million in the next three years in projects and innovative initiatives, and also develop the innovation laboratory and smart applications to enhance customer experience and strengthen Dubai’s reputation as a global business centre.

Dubai Chamber has always been keen on establishing a favourable ground to inspire the business community to implement global best practices in various fields. The Chamber’s Centre for Responsible Business, which last year celebrated its 10th anniversary, is moving from

strength to strength as a platform to instill a culture of responsible and sustainable business strategies. Also, the Mohammed bin Rashid Al Maktoum Business Award, which recently celebrated its eighth cycle and expanded its scope to include GCC companies, was transformed from a local award to a regional award and is set to become an international event by 2020.

Another of our initiatives, the Dubai Business Women Council has become a comprehensive umbrella for Emirati businesswomen, who have been contributing to the growth of Dubai. Among other initiatives, University of Dubai has become a

prominent higher education academic institution in the region, and the Dubai International Arbitration Centre has emerged as a leading global entity in settling trade disputes.

Among our newer initiatives, the ‘Tejar Dubai entrepreneurship development programme ’ is a model initiative that supports young men and women to enter the world of business, enabling them to build on the success of the first generation of Dubai traders. We have launched six projects under the initiative so far.

The launch of Dubai Association Centre is another major effort by Dubai Chamber to support Dubai’s future. The Centre is the outcome of cooperation between Dubai Chamber and the Department of Tourism and Commerce Marketing and the Dubai World Trade Centre to consolidate Dubai's position as an attractive destination for economic and professional trade bodies.

Building a legacy

Dubai Chamber highlights 50 years of excellence as the largest chamber of commerce and industry. The last five decades have been a period of extraordinary achievements for both Dubai as well as the Dubai Chamber.

1985 - 1995

1965

Founded by the late Shaikh Rashid bin Saeed Al Maktoum to serve as the main engine of growth for trade in Dubai and establish laws and regulations on commercial and economic matters.

Delegations over 10-year period contributed significantly to setting up over 30 trade centres from different countries and more than 100 commercial companies opening regional offices in Dubai.

1970

1995

New headquarters inaugurated by Shaikh Maktoum bin Rashid Al Maktoum, accompanied by His Highness Shaikh Mohammed bin Rashid Al Maktoum, VicePresident and Prime Minister of the UAE and Ruler of Dubai.

Dubai Chamber membership increased to 1,164. This growth was achieved due to the visionary policies of the UAE leadership and the discovery of oil, with Dubai beginning oil exports by 1969.

1973

Hosted the Conference of Arab Chambers to promote the emirate as a leading destination for exhibitions.

1975

Under a new law issued by the late Shaikh Rashid bin Saeed Al Maktoum, industrial and service sectors were brought under the chamber in addition to the commercial activities. Dubai Chamber members increased to 1,796, while over 10,000 certificates of origin were issued.

1979

Dubai World Trade Centre opened its door to become the heart of Dubai’s business district. Dubai Chamber hosted major global and regional events to encourage trade, tourism and investment in various sectors.

1980

Dubai Chamber welcomed Cecil Parkinson, UK’s Secretary of State for Trade and Industry, in April, and Prince Albert of Belgium in

1996

November. Certificates of origin rose to 41,392.

Member count rose to 36,000.

Dubai Chamber hosted 63 exhibitions, conferences, and seminars during this year, and issued more than 145,000 certificates of origin with daily average of 468 certificates, and re-exports to 166 countries around the world.

1981

Welcomed leading political and economic officials such as Margaret Thatcher, Prime Minister of the UK (April); Indira Gandhi, Prime Minister of India (May); and Turkish Foreign Minister Waheed Ihsanoglu (1985).

1983

Around 17 exhibitions were organised with more than 70 delegations visiting Dubai from as many as 28 countries, encouraging foreign investments into all economic sectors.

1985

Registered members rose to 10,934.

1990

Members further increased to 20,000, reminiscent of Dubai’s strong position as a leading regional and international hub.

1997

Launched its official website that revolutionised business community services at local, regional and global levels. Also launched the University of Dubai to support local talents and develop their skills and capabilities.

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Celebrating 20 years of ongoing success Cavotec Middle East owns a 6,000-metre warehouse, and has offices in Abu Dhabi, Bahrain and Qatar, enabling the group to cover the entire wider region

2002

Dubai Chamber established the Dubai Business Women Council to raise the profile of women in business, which has further helped fight the negative stereotypes of women in the Arab world.

2004

Established the Centre for Responsible Business (CRB) to engage the business community with Dubai’s social and environmental needs.

2005

Launched the Mohammed Bin Rashid Al Maktoum Business Award in 2005 to set a world-class business culture and create a competitive business environment that will ultimately contribute to sustainable growth.

2012

Dubai Chamber opened its first overseas representative office in Baku, Azerbaijan.

2013

The growth picked up speed by 20 per cent to reach Dh164 billion.

2014

Exports and re-exports of Dubai Chamber members to GCC countries rose to Dh180 billion, compared to Dh17 billion in 1998.

Dubai Chamber represented over 170,000 businesses by the end of the year.

2015

Dubai Chamber celebrates its 50th anniversary, marking a major milestone in the growth of the emirate’s business community.

2007

Exports and re-exports within the member nations peaked to 44 per cent, following the implementation of customs unification. The average annual export growth reached 34 per cent, with total exports rising to Dh87 billion.

2010

Dubai makes a quick recovery after the economic crisis with a growth in total exports to the region by 12 per cent at a total value of Dh101 billion.

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Leading global engineering group, Cavotec, is celebrating 20 years of ongoing success in the Middle East. It established its regional operations in Jebel Ali Free Zone in 1995, and over the years the group’s UAE-based subsidiary, Cavotec Middle East, has played a fundamental role in enabling regional industries to improve productivity, safety and sustainability.

The group delivers power transmission, distribution and control technologies that form a seamless link between fixed and mobile equipment for the region’s ports and maritime, airports, mining and tunnelling and general industry sectors.

Being one of the very few companies that were established early in Jebel Ali, Cavotec Middle East currently owns a 6,000-metre warehouse, and has offices in Abu Dhabi as well as Bahrain and Qatar, enabling the group to cover the entire wider region, including India. Cavotec’s regional operations are supported by 80 highly experienced personnel and enjoy unparalleled support from eight Cavotec Centres of Excellence, and sales companies in 35 countries worldwide.

The company places very strong emphasis on innovation and quality, ensuring durability of solutions and quick turnaround times that improve operational efficiency.

In the Middle East, the group focuses primarily on aviation, maritime and oil and gas sectors. Many of Cavotec’s innovative systems and solutions automate operations and connections from electrical power to mobile equipment. The group has worked on major projects across the region with its innovative systems serving the leading regional airports and ports in Abu Dhabi, Bahrain, Dubai, India, Jordan, Kuwait, Oman, KSA and Qatar.