RAK Business Magazine, Issue (20), 2023

‫مجلــة أعمــال رأس اخليمــة‬

ISSUED BY RAK DED, ISSUE NO. 20, SEP. - OCTOBER2023

FISH SECTOR

Boosting Economy and Expanding Revenues

SAUDI ARABIA

Sustainable Growth and Common Prospects

UAE

Abdulaziz Al Melhem...

Start your online business in a day with Packman platform

leads global development indices New Half-Year Record for Ras Al Khaimah Tourism

Marjan Island Hosts the First “W” Hotels in Ras Al Khaimah

ALAIN

AHMAD GOLCHIN

RAKDED Launches “Entrepreneurship Forum 2023”

The Entertainment Industry is a Gateway to Cultural Enlightenment

Infatuation at first sight

Department of Economic Development

Where Business Starts Follow us on : Rakded_ae

RAK Business issued by Ras AlKhaimah Department of Economic Development to support and develop the business environment and highlight best practices in Ras Al Khaimah.

SUPERVISION SH. Mohamed bin Kayed AlQasimi EDITOR IN CHIEF Dr. Abdulrahman Alshayeb Alnaqbi MANGAGING EDITOR Aisha Obaid Alayyan EDITORS Nebras Shafik AboZidan Mayyasa Sultan AlKendi Musa Abdel Moneim Metwally

NEW GENERATION TEAM Khawla Ibrahim Abdulaziz Alelewi Zina Abboud Zainab Shieha Dareen Abu AlKheer Maher Safyeldin

VISION: Ras Al Khaimah to be the preferred destination for doing business.

MISSION: Organizing economic activities and augmenting efforts for business growth and sustainability in a competitive environment that achieves sustainable economic development in the Emirate.

STRATEGIC OBJECTIVES: • Promote diversified and sustainable economic growth • Contribute to the organization of the business sector according to the global standards.

• Developing the services provided to clients, strategic partners and the business community.

• Expanding and enhancing the institutional efficiency of institutional support services and excellence and boosting the culture of creativity and knowledge.

INSTITUTIONAL VALUES: • Positive Citizenship: Taking responsibility and meeting all customers’ needs and beyond- If possible.

• Institutional happiness: Continuously strive to win the happiness of our employees, customers, partners, and community.

• Creativity and Innovation: We want our employees to take initiative with every new, creative and innovative idea.

• Integrity and Transparency: We deal transparently with all stakeholders within an integrated institutional governance framework.

• Sharing Knowledge: One team with unified knowledge we all share.

Media consultancy

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ngmedia.ae@gmail.com The topics mentioned express the opinion of its author, and do not necessarily represent the opinion of the Department of Economic Development in Ras Al Khaimah. Despite efforts to investigate accuracy, the magazine does not accept responsibility for any errors in the information provided.

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FROM THE EDITOR

COP28 MARKS ANOTHER UAE SUCCESS STORY

Dr. AbdulRahman Al-Naqbi

he UAE will host the 28th Conference of the Parties to the UN Framework Convention on Climate Change (COP28) from November 30 to December 12, 2023. This global event brings together representatives of participating countries to focus on addressing the repercussions of climate change.

COP28 comes in line with the UAE vision in building bridges of communication and cooperation as it is an effective platform for achieving the highest climate ambitions. It aims to promoting sustainable economic and social development for the benefit of present and future generations.

Over 70,000 participants, including world leaders, NGOs, private sector representatives, indigenous people, and young people, are expected at COP28, which will reshape the global climate action.

The UAE will lead a process for all stakeholders to agree upon a clear roadmap to accelerate progress towards a just, orderly, and equitable global energy transition and a “leave no one behind” approach to inclusive climate action. The conference aims to achieve tangible change and move the Conference of the Parties from being a platform for dialogue and negotiation to taking actual actions to bring about positive change at all levels. COP28 reflects the UAE’s wider activity to ignite public engagement in supporting climate action in a way that contributes to achieving actual, effective, and lasting progress.

The Conference also highlights the UAE’s projects and investments in the clean and renewable energy sector, as the UAE leads global efforts in this sector through its strategies and investments. The renewable energy sector in the UAE is witnessing a huge boom. The UAE Energy Strategy 2050 was launched in 2017, as it is the first unified energy strategy in the country based on supply and demand.

The strategy aims to increase the share of clean energy within the total energy mix from 25% to 50% by 2050, reduce the carbon footprint of electricity generation by 70%, and save AED 700 billion ($190.63 billion) by 2050.

The UAE is a global leader in green energy, having invested more than $50 billion in such projects in 70 countries, and it also plans to invest another $50 billion in renewable energy in the next decade locally and globally. .

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CONTENTS

Issue No. 20 SEP., OCT. 2023

06

PANORAMA Ahmad Golchin..

The Entertainment Industry is a Gateway to Cultural Enlightenment 10 Discovering new opportunities in Dubai led to the establishment of many successful businesses.

Saudi Arabia... Sustainable Growth and Shared Horizons 16 The relationship between the two countries has witnessed an increase in trade volume after the COVID-19 pandemic.

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BUSINESS

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UAE leads global development indices

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22 UAE has maintained its progress in human development indicators due to increased spending on education and healthcare, with short-term effects from economic crises..

Fish Wealth... Boosting the Economy and Diversifying Revenues

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6

26

26 The strategy for the future sustainability and inclusiveness of fish wealth is about ensuring the continued and enhanced use of natural resources.

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COLUMNS 21

32

40

32

32

Abdulaziz Al Melhem...

New Half-Year Record for Ras Al Khaimah Tourism

OVER THE TOP Start your online business in a day with Packman platform 32 The idea for the Bakman platform came to secure solutions for e-commerce issues that entrepreneurs may face in terms of cost and experience.

Marjan Island Hosts the First “W” Hotels in Ras Al Khaimah 39 The hotel will be located on the main Marjan Island, amidst the stunning natural landscape of the Arabian Peninsula.

TOURISM

The direct and indirect effects of international economic sanctions.

24 UAE Joins World Economic Forum EDISON Alliance

40 Achieving the highest tourism-related revenues ever during a half-year period. To enhance its position as a future destination.

35 Transforming Outdoor Living: How 3D Printing is Shaping the Future of Furniture

ALAIN... Infatuation at first sight

37 Your paved path to success”

40 it welcomes you with a broad smile, and trees on its sides cheer your arrival, making your heart open and your soul calm. You feel as if you’ve been here before.

The world of business and the art of communication.

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PANORAMA ECONOMIC

NEWS SPOTLIGHT PARTNERS

Ruler of Ras Al Khaimah: Promoting economic growth is a key pillar in the sustainable development drive HH Sheikh Saud bin Saqr Al Qasimi, UAE Supreme Council Member and Ruler of Ras Al Khaimah made the remarks in the presence of Sheikha Amneh bint Saud Al Qasimi, Chairwoman of Ras Al Khaimah’s Investment and Development Office, while welcoming a delegation from the World Economic Forum, an international body that has maintained a strategic partnership with the UAE Government for more than 20 years.

During the meeting, the Ruler of Ras Al Khaimah discussed various topics related to emerging economic trends and explored ways to enhance cooperation and leverage best practices for the benefit of all nations.

“We are actively contributing to national and global efforts that will positively impact the future, and we are committed to building a diverse, vibrant economy that leverages the potential of technology to create exceptional opportunities for sustainable development,” added Sheikh Saud.

“Our vision for continued economic growth is based on a number of key factors, notably supporting innovation and advanced

Diversifying sources of national income and driving economic prosperity are key pillars for building a sustainable future for the nation’s citizens and residents 8

technology, promoting sustainability and empowering skills development in sectors such as artificial intelligence, digital technology, the environment, climate, governance and the community.

Additionally, we aim to enable our creative minds to realise their dreams and contribute to shaping a bright future,” he continued.

The visiting delegation expressed their gratitude and appreciation to H. H. Sheikh Saud for his generous hospitality and warm reception. They also conveyed their

admiration for the impressive economic development taking place across the Emirate of Ras Al Khaimah and the UAE in general.

The World Economic Forum, drawing on its rich history spanning over 50 years, serves as a vital platform to promote international cooperation, build successful partnerships between governments and private enterprises, and bring together experts, entrepreneurs and technologists to discuss, design and shape future trends while innovating to address global challenges.

ECONOMIC PANORAMA

NEWS

stores, licensed social media influencers, pharmacies, cooperative and consumer societies, Al-Ghad licenses, Chance licenses, and university students who are about to enter entrepreneurship.

Al-Ayyan stated that the Forum presented many packages, advantages, and facilities for the business sector in Ras Al Khaimah.

She pointed that the participation in this event was a golden opportunity to meet companies and investors in various fields, learn about their skills and practices, exchange experiences, and build investment bridges between each other.

RAKDED Launches “Entrepreneurship Forum 2023” Under the patronage and presence of Sheikh Mohammed bin Kayed Al Qasimi, Chairman of Ras Al Khaimah Department of Economic Development, and aiming at promoting diversified and sustainable economic growth, the Department of Economic Development (RAKDED) launched the first edition of the Entrepreneurship Forum 2023, on September 13, at Hilton Garden Inn Hotel in Ras Al Khaimah. The Forum hosted a group of local, regional, and international companies in various sectors and fields.

Aisha Obaid Al-Ayyan, Director of the Business Development Department, stated that the Forum was the culmination of many gatherings, meetings, and workshops held by RAKDED with various business sectors during this year. These meetings came to address the challenges of these sectors and collect sufficient data to help study business and business development in Ras Al Khaimah. The goal of this forum, therefore, is to enhance the business environment by hosting a wide range of companies and investors under one roof. It is an opportunity to showcase businesses whose owners can communicate in a stimulating and promising business atmosphere, thus creating an incubating environment for projects and driving the growth and technological development of the emirate’s economy.

The forum, as Al-Ayyan said, was divided into two main parts. The first part was for the category of speakers represented by nine major local, regional, and international companies. These companies organized several workshops and discussion sessions in which they presented various economic and technical topics, including marketing skills, media, delivery, devices, modern technologies, payment solutions, banking services, and other topics related to investment and entrepreneurship. This category included the following companies: Snapchat, Google, Network, Foodics, Makane, Talabat, Noon, Packman, and the Emirates Development Bank.

The second part of the forum was to provide the opportunity for participating companies and entrepreneurs to meet each other and present their services and businesses, which contributes to consolidating investment relations in the emirate locally, regionally, and globally. That may allow them to reach agreements or sign contracts that contribute to strengthening their businesses.

It is worth noting that the forum aimed to receive more than two hundred (200) small and medium emerging companies, from various sectors and fields, including but not limited to: restaurants, cafes, retail stores, perfume, fashion and gold

Sharjah Islamic Bank Enables Screen Reader for Mobile Banking App Sharjah Islamic Bank (SIB) has introduced a screen reader integration for its mobile banking app, becoming the first bank in the UAE to provide this service for people with visual disabilities. SIB worked closely with individuals with visual disabilities to ensure the screen reader service would meet their banking needs, such as checking balances and making money transfers.

The Digital Banking Department conducted user testing to guarantee the app’s usability and security, enabling visually impaired customers to perform all their banking transactions through the SIB app while maintaining privacy and security.

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RAKEZ welcomes innovative climate-tech company Carbon Alert Carbon Alert, an innovative climate technology company, has joined the Ras Al Khaimah Economic Zone (RAKEZ), marking its presence as the first climate-tech business in the Northern Emirates. Carbon Alert focuses on reducing global carbon emissions by offering high-quality carbon credits to regulated markets. The signing ceremony took place at the Compass Coworking Centre in Ras Al Khaimah and was attended by RAKEZ Group CEO Ramy Jallad, Carbon Alert Co-Founder Jacobus Merksteijn, and RAKEZ strategic advisor Ayman Al Yamani.

RAKEZ welcomes Carbon Alert into its ecosystem of companies providing sustainable solutions. As the UAE prepares to host COP 28, Carbon Alert’s presence is timely, offering its solutions to international firms striving to reduce their carbon footprint and support global efforts to achieve net-zero emissions by 2050.

Carbon Alert is initially providing high-quality, high-additionality carbon credits from selected trusted projects. The company plans to explore opportunities for deploying its proprietary Carbon Dioxide Removal (CDR) technology in the UAE’s desert terrain and assisting local industrial companies with carbon certification, thus contributing to the region’s sustainable development and carbon reduction goals.

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Ras Al Khaimah Economy organizes a workshop on intellectual property laws The Ras Al Khaimah Department of Economic Development, in collaboration with Saba Property Company, held a workshop on intellectual property laws. The training focused on differentiating between genuine and counterfeit products, highlighting the risks of fake goods to consumers. The workshop involved participation from the public and employees of both government and private entities. The goal was to educate and prepare individuals to identify authentic products and combat counterfeits. This initiative aims to safeguard society, preserve its economic and commercial integrity, and protect intellectual property rights for businesses and organizations.

92 million dirhams, the value of intellectual property seizures in Ras Al Khaimah The Director of the Commercial Control and Protection Department at Ras Al Khaimah Department of Economic Development (RAKDED), Mr. Faisal Alyoon, revealed that the original estimated value of the intellectual property seizures accomplished by RAKDED during the first half of this year amounted to about AED 92 million, resulted from 35 complaints by major brands. The confiscated goods varied, including gold, accessories, children’s toys, shoes, clothes, wristwatches, mobile phones, phone accessories, and some food products.

ECONOMIC PANORAMA

RAKDED Completes Electronic Linkage with the Public Services Department Ras Al Khaimah Department of Economic Development (RAKDED) announced the completion of the electronic linkage project with the Public Services Department. This project came following the directives of Ras Al Khaimah visionary leadership to accelerate the pace of work and achieve electronic connectivity between all government agencies. Thiselectronic link ensures the speedy completion of transactions, and thus meeting the customer satisfaction.

The electronic linkage included three (3) digital classifications for services. These include inquiring about licenses, approvals for activities, and entering /collecting violations.

His Excellency Dr. Abdul Rahman Al-Shayeb Al-Naqbi, Director General of the Department of Economic Development, said that the Department continues to develop work procedures through innovative tools and new smart systems that contribute to improving and strengthening work mechanisms and reflects positively on the satisfaction and happiness of customers. “All efforts are combined to achieve the electronic linking with the partners to simplify procedures and easily complete related transactions between the concerned authorities. This aims to reduce the

NEWS

customer’s journey, shorten time and effort, facilitate government procedures, and develop information technology capabilities through smart connectivity between the participating entities,” His Excellency said.

For his part, His Excellency Engineer Khaled Fadl Al-Ali, Director General of the Department of Public Services, confirmed that the signing of this agreement with the Department of Economic Development, especially in using modern technologies, gives a special character to joint economic work. This is done through the application of a new technical program that leads to digital communication between the two sides to shorten the time of joint procedures and automate the service of entering and collecting violations.

His Excellency also explained that the current memorandum focuses on supporting the foundations of technical linkage between the two parties. This cooperation has an added value to the department plans and efforts toward its electronic transformation in all its dealings with local and official authorities in line with the rapid development in Ras Al Khaimah. This step, as His Excellency said, is a blessed step that enhances the role of the Department of Public Services in raising the efficiency of performance and qualitative improvement in work that finally contribute to achieving the happiness and satisfaction of community members.

Ducab Group’s Remarkable Progress in Emiratisation” Ducab Group, a major energy solutions provider in the UAE, highlights its commitment to Emiratisation, with 72% of upper management, 26% of middle management, and 40% of office staff being UAE Nationals. Furthermore, 62% of all engineers and 75% of factory managers are Emiratis. The company is expanding its recruitment sources to include foreign universities, aiming to attract exceptional talents to enhance its leading position.

Ducab offers training programs, including ‘Bidayiti’ for fresh graduates, a Scholarship Program, Graduate Trainee Program, and a National Service Program, allowing young Emiratis to gain experience. The Group’s focus on Emiratisation supports the UAE’s vision for sustainable growth.

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Ahmad Golchin

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ECONOMIC PANORAMA

SPOTLIGHT

Ahmad Golchin

THE ENTERTAINMENT INDUSTRY IS A GATEWAY TO CULTURAL ENLIGHTENMENT He is Credited as The Father of The Middle East Cinema, has been felicitated & honoured many times by the Movie Industry & the UAE Government. Ahmad Golchin is the Founder & Chairman of the Phars Film Group. He landed on UAE’s Shores In 1963. Since that day, he has been building the foundations to what is now the largest and most successful film distribution network in the Middle East. Mr. Golchin’s partnerships and investments span the Middle East and operate in as diverse sectors as Distribution, Exhibition, Post-production, Media, Hospitality, Property development and Property management. RAK Business magazine met with him to highlighted on his inspiring career, and the following interview was:

The UAE, specifically Dubai, was a transit station, but it became the center for launching and incubating success.

How did that happen? How did it start?

Dubai’s meteoric ascent from a mere transit station to a global hub of innovation and success can be attributed to the country’s visionary leadership and strategic investments. Historically, Dubai thrived on its pearl diving and trade economies. However, it evolved to become the region’s premier trade and tourism destination, charting a path toward a diversified economy. It’s now the go-to destination for businesses and significant deal-making.

Oil provided the initial capital for infrastructure, but it was the Al Maktoum family’s dedication to their people, forward-thinking approach, and appreciation for expatriates like myself, combined with their holistic vision of

Dubai in a post-oil future, that fuelled Dubai’s diversified growth. By embracing the aspirations of younger generations and understanding global trends, they crafted a shared dream. Their investments in sectors like tourism, aviation, real estate, and finance were pivotal. Moreover, their commitment to cutting-edge technologies and the development of world-class infrastructure positioned Dubai as a fertile ground for businesses. Iconic landmarks, such as the Burj Al Arab and the Jumeirah Beach Hotel (which replaced the old Chicago Beach Hotel), were masterstrokes in marketing, spotlighting the ‘Golden’ city as a place where dreams manifest. By the time expansive free zones with myriad incentives were introduced, Dubai had already established itself as a strategic bridge between the East and West— an ideal trade and tourism nexus. The leadership’s progressive policies, avant-garde mindset, and aptitude for storytelling transformed Dubai from a transient point into the world’s meeting place to nurture dreams and opportunities.

When circumstances meant you had to extend your stay in Dubai, you recognized its promising future and chose to settle. What convinced you of Dubai’s potential?

Dubai’s magnetic appeal lies in its vibrant energy and abundant opportunities. Anyone who spends time in Dubai can feel the city’s vitality and its potential for turning dreams into reality. The visionary plan set forth by His Highness Sheikh Rashid was a powerful draw. It created a solid foundation for investment and growth. Even though entertainment infrastructure like cinemas was absent,

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Dubai’s bustling atmosphere offered ample promise.

When I first arrived in Dubai in 1964 at the age of 22, I was on my way to Canada. I had little more than the clothes on my back and a dream.

However, I quickly realized that Dubai held the potential for a promising future. The city was teeming with opportunities in various sectors, and its leadership was deeply connected with the people, driven by vision and determination to create an extraordinary future. The city, though smaller in those days, was always buzzing with energy, and there was a sense that it was destined for greatness.

Despite initial challenges, such as not securing a job in book publishing and starting as an acrylic sign-cutter, I grew familiar with the city’s pulse. I noticed a significant gap in entertainment options and, drawing from my background in publishing, recognized the power of storytelling. This realization led me to introduce films to Dubai. The city welcomed entrepreneurs and encouraged them to be part of its evolving success story. Hard work and perseverance were not only recognized but also rewarded.

During those early years, Indian films dominated the entertainment scene, a trend that continues today. However, films from various other languages also found audiences. The allure of watching movies on the big screen was irresistible, even though the viewing experience back then was relatively basic. Films offered a unique opportunity to virtually travel, share captivating stories with loved ones, and connect expatriates to their homelands. Beyond mere ticket sales, the joy of entertainment was about the happiness and smiles it brought to people’s faces. These early experiences laid the foundation for my life’s journey in the cinema industry.

Words and stories captivated you until they became the nucleus of your investment. How vital is it to invest in this domain?

I believe that the most rewarding investments are driven by passion. For me, I’m most passionate about film, doesn’t matter what language, doesn’t matter the genre, every film has a story, and it’s my belief that every story has a place, whether the big screen, small screen, streaming, or even books. What I enjoy most is the effect 14

I discovered new opportunities in Dubai and established many successful businesses, starting with small ventures and eventually entering the film industry; hard work and determination resulted in success in this opportunity-rich environment these stories have on people, the curiosity they cause. Cinema adds another level to this because of the shared experience it offers. Cinema can make people laugh together, smile together and even cry together. which brings them closer to the story and adds impact because whatever the story, they’re experiencing it ‘Together’.

That’s why I’m so passionate about cinema. You could watch a great movie at home, and you’ll remember it for a couple of days, when you’re talking to your friends or family but if you experienced the story on the big screen, you’ll remember scenes, emotions, and laughter, how it made you feel because of the shared experience.

Since I was a teenager, I was very lucky to understand that stories build bridges between people, surpassing both geographic and language barriers. Films reflect our hopes, dreams, fears, and loves. It goes far beyond just entertainment. The fact that they entertain is a bi-product of the film-making craft and the creative talents behind great storytelling. Investing in the film industry is investing in a worlds most loved story-telling engine,

SPOTLIGHT rations, and both film and music are prolific creators of such figures. Engaging emotionally with on-screen performers naturally leads to a bond. This shared experience predisposes us to connect, elevating these personalities to iconic stature. If such status is rooted in a universally shared belief, then this art form, along with the celebrities it spawns, can shape narratives, introduce trends, offer fresh perspectives, and drive essential societal messages.

Presently, you stand as one of the foremost film distribution entities in the Middle East. How did you achieve this, especially given your moniker as the “godfather of cinema” in the UAE and the Middle East?

Since the time I distributed my inaugural movie, a Mexican film dubbed in Persian titled “Fight to Death”, my passion for movie distribution has only intensified. The title “Godfather of UAE Cinema” is quite theatrical and stems from my dominance in distributing Bollywood and South Indian films over the years. My involvement extends to other languages too, including Hollywood, independent English, Arabic, Tagalog, and French films, either directly or through enduring partnerships. These are distributed via my company, Phars Film, which leads in multi-language film distribution in the UAE, the Middle East, and globally for an expanding range of Indian titles.

How crucial is the entertainment sector in refining people’s sensibilities and in societal progression?

Movies, much like books, expand our horizons, introducing us to diverse ideas and customs. The entertainment industry serves as a potent instrument for education and cultural enlightenment. Before the digital age, films were our windows to the world, providing insights into varying cultures and traditions. They promote unity amidst diversity, facilitated by the collective experiences they offer. When diverse individuals, hailing from varied backgrounds, find a resonance with a narrative, it bridges divides, highlighting our shared humanity. Society needs icons and inspi-

What are the most significant milestones in your career in the cinema industry?

Several milestones have defined my career in the cinema industry. Pioneering the first air-conditioned cinema in Dubai in 1971 was a game-changer. This seemingly small innovation revolutionized the cinematic experience, providing relief from the region’s heat and humidity.

The introduction of the first Dolby sound theater at Al Nasr cinema in the 1990s marked a major quality milestone. It offered Indian cinema fans an immersive audio experience, enhancing the cinematic journey.

Opening the first 12-screen multiplex in the Middle East was a source of pride. It initiated the shift from single-screen to multiplex cinemas, offering diverse film choices and a customized viewing experience.

The launch of the first 21-screen megaplex with the Middle East’s inaugural IMAX at Ibn Battuta Mall was a groundbreaking milestone.

IMAX’s larger-than-life visuals and sound elevated the cinematic experience and set new industry standards.

Challenges have been an integral part of my journey. Navigating the complexities of film distribution, adapting to evolving technologies, and changing audience preferences were ongoing challenges. The most recent and formidable challenge was the COVID-19 pandemic.

The pandemic led to temporary theater closures and a rapid shift to digital streaming. While it posed significant challenges for cinema operators, it accelerated the adoption of streaming-based consumption habits.

Despite the obstacles, the cinema industry is evolving to embrace these new dynamics.

The cinema industry has a history of resil-

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entire project, it has a big impact on earnings, which can make the difference between profit and loss.

The revenue loss due to piracy directly impacts the filmmaker or studio’s capability to invest in new projects, which limits productivity and income throughout the creative pool and suppresses new or unproven talents. It’s a ripple effect; when filmmakers can’t recover their investments, it leads to a reduction in the production of quality content over time. We all lose.

We’re in new digital age, in which technology is moving faster than business’s ability to keep up. We don’t want to stifle positive technological change, but we do need to react proactively. We have to educate audiences about the importance of consuming content legally. We need to ensure robust digital rights management systems, collaborate and work with governments and key digital players to limit loss through piracy. It’s a shared responsibility for all industry stakeholders if we want to preserve the sanctity of this industry we all love and make sure it can thrive for generations to come.

ience. It has weathered disruptions in the past, and I believe it will continue to do so. Cinema offers a unique and irreplaceable experience, and as long as filmmakers create spectacular movies designed for the big screen and people seek shared experiences, the future of the cinema industry remains bright. Challenges drive innovation and progress, and I’m optimistic about the industry’s ability to adapt and thrive.

The great technical development and the superiority of the millennial generation in online piracy has led to facilitating access to many films via the Internet, making them accessible to everyone. Does this pose a challenge to your business?

Rapid technical advancements and the rise of online piracy posed immense challenges to the film industry. While the democratization of the internet has been a boon in many ways, it has also made it easier than ever before for people to access to copyrighted content. It has a considerable knock-on effect that affects the movie business at large.

Piracy undermines the immense effort, dedication, and resources that go into making a film. From scriptwriters to directors, from actors to production crews, hundreds, even thousands of professionals put in countless hours to bring a story to life. When people watch these films illegally, it doesn’t just devalue their hard-fought recognition of the 16

Has the emergence of platforms such as “Netflix” and others affected the prosperity of your business?

The rise of streaming platforms like Netflix, Amazon Prime, and Disney+ has undeniably reshaped the entertainment landscape, offering an expansive library of both Hollywood and international films, including Bollywood and South Asian cinema. These platforms grant audiences the convenience of accessing diverse content from the comfort of their homes. While this shift to digital consumption has influenced traditional cinema-going habits, the cinematic experience remains unparalleled.

Big-ticket movies, whether they hail from Hollywood, Bollywood, or other film industries, have an allure that’s unmatched. Films like “NO TIME TO DIE,” “AVATAR,” “MISSION IMPOSSIBLE,” “OPPENHEIMER” from Hollywood, or “Pathan,” “RRR,” “Jailer,” and “KGF” from Bollywood and the broader South Asian cinema, are not just movies — they’re experiences. Their narratives, visuals, and soundtracks are often best enjoyed in the immersive environment of a theater. The magnitude of these spectacles, combined with the communal emotion they evoke, showcases the enduring magic of cinema.

The collective experience of movie-watching, with shared reactions and emotions, is a phenomenon unique to theaters. While streaming platforms cater to a different kind of convenience, they coexist with cinemas rather than replace them. Major releases, irrespective of their origin, continue to draw audiences, solidifying the cinema’s position as a cultural mainstay in the realm of entertainment.

SPOTLIGHT

a movie and blockbusters are designed to offer that experience. As long as filmmakers continue to make spectacular made for cinema movies, and as long as people want to share experiences, I’ll be optimistic about the future of my investments in the cinema industry.

You have invested in other sectors besides your work in the entertainment sector, such as real estate development, property management, etc. How important is this diversity in achieving financial security for investors?

These platforms provide easy access to movies that are watched at home. With this matter, how do you see the future of your investments in cinema industry?

Cinemas have held strong over a century, adapting and thriving through so many disruptions. From television, which was once thought of as a threat, to cinema, to home video, to piracy and now the streaming platforms, the cinema industry has faced its fair share of competitors and will inevitably have to face more. That’s business. Adapt or go extinct. But we’re still standing.

Cinema itself can’t be copied. It’s a shared experience.

Watching a film on the big screen with state-of-the-art sound is a fully immersive experience that you can’t enjoy at home. It’s the collective energy of an audience that’s the real cherry on the cake; laughing together, crying, and jumping. Add to this, the unmistakable aroma of the popcorn, the larger-than-life trailers, and the feeling you get when the lights go dim and it’s a total experience that streamers can’t replace.

Blockbusters are designed for the big screen. They’re events in themselves, with a buzz and anticipation strong enough to bring people out of their homes.

Streaming platforms cater to the convenience of immediate, diverse content at home, they cater to a different niche, smaller independent and made for streamer titles will definitely thrive. Cinemas offer an experience, not just

Diversification is a fundamental principle of investment.

The more you diversify, the less risk you encounter, it’s a philosophy has driven many of my business decisions over the years. While people may primarily recognize me for my contributions to the regional film and cinema landscape, my endeavors span a growing number of industries.

Beyond the entertainment industry, I’m also the owner of a growing business group which does includes my Film Distribution Company and Cinema Group as well as real estate development and management companies, general trading, and publishing business. I’ve recently ventured into hospitality investment by acquiring ‘Abshar Restaurants,’ one of the UAE’s most renowned Iranian Restaurant Groups.

Each of these venture carries its unique set of challenges and rewards, but together they offer a strong safety net, ensuring financial security and stability. By investing in a diverse array of sectors, I can capitalize on the strengths and opportunities of one industry when another might be facing challenges, which I see as fundamental to building a robust portfolio.

What are the factors that made the UAE an ideal incubator for your business and an attractive destination for investment?

The growth that the UAE has seen, since the seventies. The stability and the welcoming environment that was created.

“No matter how many times I fell, I got up and found a way to move forward,” said Ahmad Golchin. How did Golchin see and find this way to help him move forward?

What is your advice to young entrepreneurs in this regard?

It is very simple. We learn from our mistakes, and we try to do better. We should never stop.

God gave us time and it is priceless. With experience you will learn how to better use time and benefit others with your knowledge. Never give up in your life. I go by “THANK GOD & GOD WILLING”

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KINGDOM OF

SAUDI ARABIA SUSTAINABLE GROWTH AND COMMON PROSPECTS

Musa Abdel Moneim Metwally Economic advisor

The Kingdom of Saudi Arabia ranks third in the world after Russia and the United States of America in terms of wealth from natural resources, with an estimated value of about US$ 34.4 trillion. The Kingdom has the second largest proven oil reserves after the United States of America and is the largest oil exporter in the world. It has the fifth largest reserves

18

of natural gas and is considered an energy superpower. It also occupies thirteenth place in the world in terms of its total area, amounting to about 2.1 million square kilometers. The Kingdom of Saudi Arabia is one of the twenty largest economies in the world, ranking seventeenth with a total gross domestic product of US$ 1.1 trillion. It is the largest economy in the Arab world and the Middle East.

KSA economy, according to the report, is witnessing a strong recovery from the recession result-

ECONOMIC PANORAMA

ing from the Corona pandemic. Support was provided through liquidity and public finance, the momentum of reforms within the 2030-Vision, and the rise in oil prices and production. These factors contributed to the economic recovery and the achievement of strong growth rates considering the containment of inflation and the solidity of the financial sector. The receding effects of the pandemic, the increase in oil prices and production, and the growing power of economy also led to an improvement in the Kingdom’s public finances and external position.

PARTNERS

Emirati-Saudi relations The United Arab Emirates celebrates with the Kingdom of Saudi Arabia on the Saudi National Day on September 23 of each year. Both countries are linked by eternal, ancient and historical relations, strengthened by ties of blood, heritage, and common destiny. The late Sheikh Zayed bin Sultan Al Nahyan and his brother King Faisal bin Abdulaziz Al Saud, the King of Saudi Arabia at the time, established the foundations of these relations. The founding fathers of the two coun-

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19

tries sought to consolidate bilateral relations that are continuously developed. The leaderships of both countries were keen to

The most important economic indicators included in the country report

strengthen such relations and imbue them in

Description

the memory of successive generations. These

Estimated

Estimated

Projected

2021

2021

2023

relations, therefore, would continue in the

GDP growth rate (real)

3.2%

7.6%

3.7%

same approach and goals.

Non-oil (real) GDP growth rate

4.9%

4.2%

3.8%

As for the trade and economic relationship between the two countries, it is the largest among its counterparts in the GCC countries.

The UAE is considered one of the most important trade partners of Saudi Arabia in the Arab world, and at the level of the GCC coun-

Inflation rate (average consumer prices)

3.1%

2.8%

2.2%

Trade balance/GDP

5.3%

17.2%

13.8%

Total unemployment rate

6.9%

6.0%

---

GDP growth rate (real)

11%

10.1%

Source: International Monetary Fund on the Kingdom of Saudi Arabia in August 2022

tries. The UAE ranks first in the world as a market for Saudi exports, accounting for 13% of total Saudi exports. In terms of imports, the UAE ranks third after China and the United States of America, where its share in total Saudi imports reaches 8.2%.

The importance of the Kingdom of Saudi Arabia to the UAE economy is highlighted by its being the third trading partner of the UAE in terms of the total volume of bilateral trade between both countries during the three years from 2019 to 2021. The Saudi market ranks first in terms of its importance for UAE

The development of foreign trade between the United Arab Emirates and the Kingdom of Saudi Arabia.

Re-ExTrade Trade Total Year Imports Exports Balance Balance ports Export 2019 62.98 113.26 88.12 57.19 30.93 25.14 2020 56.35 103.92 80.14 54.57 25.57 23.78 2021

70.46

124.65

97.56

59.73

37.83

27.10

Ratio 2019/2021

107.8%

122.3%

104.4%

110.7%

110.1%

111.9%

Source: Federal Center for Competitiveness and Statistics

exports, and as for UAE imports, the Kingdom ranks sixth.

The development of foreign trade between the UAE and KSA Non-oil trade exchange between the two

‫ﺗﻄﻮر اﻟﺘﺠﺎرة اﻟﺨﺎرﺟﻴﺔ ﺑﻴﻦ دوﻟﺔ اﻹﻣﺎرات واﻟﻤﻤﻠﻜﺔ اﻟﻌﺮﺑﻴﺔ اﻟﺴﻌﻮدﻳﺔ‬

62.98

countries has regained its previous levels

70.46 57.19

56.35

54.57

after the decline caused by the Corona pandemic, reaching AED 124.6 billion in 2021,

37.83

110% the level achieved in 2019. This is after the decline that occurred in the volume of

30.93

trade exchanges in 2020, amounted to about AED 104 billion, due to the repercussions of

59.73

25.14

23.78

COVID-19 pandemic.

25.57

27.1

The level of trade exchange increased in 2021 due to the increase in UAE exports to the Kingdom, reaching AED 97.6 billion in 2021, compared to a total of AED 88.12 billion in 2019, an increase of 10.7%. Moreover, the value of UAE imports from the Kingdom increased to AED 27.1 billion in 2021, compared to AED 25.14 billion in 2019, an increase of 7.8%.

The trade balance of non-oil goods achieved a surplus in favor of the UAE amounting to

20

2019 Imports

2020 Exports

Re-Exports

2021 Trade Balance

ECONOMIC PANORAMA

The economic cooperation between UAE and KSA has witnessed tangible success, after the COVID-19 pandemic, leading to the enhancement of both economies and deepening the bilateral relations between the two countrie

UAE exports to KSA (exports + re-exports) in 2021 Million AED Electrical machines, devices, and equipment

17.5%

Natural pearls, gemstones, or precious metals

15.1%

Boilers, machines, appliances, and tools

15.0%

Vehicles, tractors, parts, and accessories

5.3%

Essential oils and perfume or cosmetic extracts

4.6%

Plastics and their products

4.0%

Copper and its articles

3.3%

Clothes and clothing accessories other than knitted

2.8%

Iron and steel

2.2%

Knitted clothing and clothing accessories

2.1%

Ships, boats, and floats

2.0%

Emirati exports to the Kingdom of Saudi

Products of cast iron, iron, or steel

2.0%

Arabia diversified during the year 2021, as

Others

24.2%

about AED 70.4 billion, compared to about AED 63 billion in 2019, an increase of 11.9%, and compared to AED 56.35 billion in 2020, an increase of 25%.

UAE exports to the KSA:

PARTNERS

Emirati exports of machinery, appliances, and electrical equipment constituted the largest portion of exports, at a rate of 17.5%, AED 17 billion. In second place are exports of pearls, gemstones, and precious metals, at a rate of 15.1%, about AED 14.7

Emirati imports from Saudi Arabia in 2021 Million AED

billion, followed by exports of boilers, machinery, and devices, at a value of AED 14.7 billion, a rate of 15%, then exports of

Plastics and their products

automobile vehicles and tractors, their

Fuels, mineral oils, and their distillation products 19.9%

parts, and supplies, at a value of about

Organic chemical products

AED 5.2 billion, a rate of 5.3%. Exports of

7.9%

Natural pearls, gemstones, or precious metals

7.7%

essential oils and perfume or cosmetic

22.8%

Cast iron and steel

5.9%

Dairy and dairy industry products

3.9%

Electrical machines, devices, and equipment

3.5%

Soap, washing lotions and candles

3.3%

Regarding imports from the Kingdom

Products of cast iron and steel

2.3%

of Saudi Arabia, imports of plastics

Products based on cereals, flour, and starch

1.9%

and their products constituted the larg-

Copper and its articles

1.6%

est percentage of total imports, with a

Pharmacy products

1.6%

value of about AED 6.19 billion, 22.8% of

Others

17.7%

extracts come in fifth place, with a value of about AED 4.46 billion, a rate of 4.6%.

UAE imports from KSA in 2021

the total. Followed by imports of fuel, mineral oils, and their distillation products, at a value of about AED 5.4 billion, about 20% of the total, then imports of organic chemical products, at a value of

Saudi Arabia -Ras Al Khaimah Economic Relations

AED 2.1 billion, a rate of 7.9%. Imports of

The areas of economic cooperation vary between the Kingdom of Saudi Arabia and

natural pearls, gemstones, and precious

the Emirate of Ras Al Khaimah. The latest report issued by Ras Al Khaimah Statis-

metals come in fourth place, with a value

tics Center on “Foreign Direct Investment” showed that the volume of the Saudi

of about AED 2.1 bill

foreign direct investment in Ras Al Khaimah amounted to about AED 925.8 million,

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ECONOMIC PANORAMA

PARTNERS

representing 8% of the total foreign direct investment in the emirate, and thus the Kingdom ranks third. The high volume of foreign trade shows the strength of trade relations between Ras Al Khaimah and the Kingdom of Saudi Arabia. The Kingdom is considered the eighth trading

Economic cooperation between Saudi Arabia and Ras Al Khaimah has flourished, with Saudi investments in the emirate accounting for around 8% of foreign direct investment, making Saudi Arabia the eighth-largest trading partner for Ras Al Khaimah

partner of the emirate during the past five years. In terms of the trade balance surplus, Saudi Arabia ranks fifth among the countries with which the emirate achieves a positive surplus.

Ras Al Khaimah exports to Saudi Arabia (exports + re-exports) 2019-2022 Million AED

Ras Al Khaimah exports to Saudi Arabia

Vehicles, tractors, parts, and accessories

51.0%

The total volume of exports (exports +

Copper and its articles

14.7%

re-exports) between Saudi Arabia and

Tobacco and manufactured tobacco substitutes

9.2%

Ras Al Khaimah during the period from

Boilers, machines, appliances and machine tools... 4.9%

2019 to 2022 amounted to about AED 1.58

Ships, boats, and floats

3.6%

billion. It is concentrated in exports of

Earth, stones, plaster, lime, and cement

3.0%

automobile vehicles, tractors, parts, and

Articles of cast iron and steel

2.2%

supplies, at a value of AED 806 million,

Inorganic chemical products and organic compounds 1.7%

constituting about 51% of the total export

Rubber and rubber products

1.4%

movement. Followed by exports of copper

Furniture

0.9%

and copper products at a value of AED

Others

7.4%

231.7 million, or 14.7% of the total. In third place are exports of tobacco and manufactured tobacco substitutes amounted to AED 145.7 million, representing 9.2% of the total. In fourth place are exports of boilers, machinery, and appliances with a percentage of 4.9%.

Million AED

Ras Al Khaimah imports from Saudi Arabia

Plastics, rubber, and their products

33.7%

The total volume of Ras Al Khaimah

Organic and inorganic chemical products

26.1%

imports from Saudi Arabia during the

Sugar and sugar products

13.1%

period from 2019 to 2022 amounted to

Extracts for tanning and dyeing

7.5%

about AED 319.1 million. Imports are

Fuels, mineral oils, and their distillation products 3.3%

concentrated in plastics, rubber, and their

Cast iron (smelting), iron and steel

products, with a value of AED 107.7 million,

3.2%

Soaps and washing preparations, lubricating ...

2.4%

Products of cast iron(smelting)and steel

1.6%

Albumin materials, starch-based products, ....

1.3%

Paper and cardboard

1.2%

Other

6.7%

constituting about 33.7% of total imports, followed by imports of organic and inorganic chemical products at a value of AED 83.4 million, representing 26.1% of the total. In third place are imports of sugar and sugar products amounted to AED 41.7 million, representing 13.1% of the total.

Fourthly, imports come from tanning and dyeing extracts, at a rate of 7.5%

22

Ras Al Khaimah imports from Saudi Arabia (2019 – 2022)

.

ECONOMIC PANORAMA

LEGAL CONSULTANT

Department of Economic Development - Ras Al Khaimah

Direct and Indirect Impacts of International Economic Sanctions (2/2) In 1948 the Universal Declaration of Human Rights was issued, as it stipulated international social, economic, and cultural rights in Articles 12 to 27. A special covenant on economic, social and cultural rights was issued in support of the International Covenant on Civil and Political Rights in 1966, which entered into force in 1977 including thirty-one articles. The most important provisions of these articles: the right to work and protection of workers, especially women and children, the right to form trade unions and social security, the right to adequate food, the right to enjoy physical and mental health, issues of education, the right to participate in cultural life, scientific progress and freedom of scientific research.

The International Covenant on Economic, Social and Cultural Rights permitted the submission of reports on the penalties taken by the signatories regarding the implementation of the provisions thereof. That contract also authorized the United Nations Economic and Social Council (ECOSOC) to supervise and take care of the issues contained therein. Economic, social and cultural rights are considered the most vulnerable to illegitimate unilateral economic sanctions, which in turn affect the economic situation of the state.

It should be noted that international economic sanctions negatively affect the international trade of the country on which the illegal sanctions were imposed. This is done by imposing restrictions on exports and imports and preventing the transfer of modern technology. As a result, the country’s foreign remittances sector will be affected, represented by restricting the remittances of workers abroad and hitting foreign investments in the country.

These sanctions also affect the country’s foreign exchange reserves, causing turmoil in the local currency exchange rate and an imbalance in the balance of payments, and thus causing inflation and an unjustified rise of prices and affecting the tourism sector.

State membership in the United Nations obliges states to comply with the provisions of the United Nations Charter and international social, economic and cultural covenants. Since the legitimate economic sanctions imposed in accordance with the Charter of the United Nations 1945 or under a legal cover thereof are issued by international consensus, the state on which the sanctions were imposed has no choice but to comply. If any other country objects to these sanctions, it shall be subject to international accountability and a target of similar penalties.

In this regard, the Ministry of Economy in the United Arab Emirates and the economic development departments in each emirate play a key role by ensuring compliance and respect for international resolutions. This role is highlighted by prohibiting import and export to and from countries subject to international economic sanctions.

Moreover, any attempt to circumvent these sanctions by establishing multinational entities or international companies to avoid the ban shall be prohibited. Countries deals with such companies shall accordingly be in a critical situation that may result in the

imposition of economic sanctions for helping the country subject to economic sanctions.

At the local level, the Department of Economic Development in Ras Al Khaimah, represented by the Compliance Office, plays a major role by ensuring the compliance of international entities, companies, and individuals with the implementation of the decisions of international bodies. The Department also plays a pivotal role in preparing substantive economic studies implemented by the Economic Studies and Policies Office thereof. These studies aim to clarify the emirate’s economic position in particular and the UAE position in general regarding the indirect effects of economic sanctions, which may be positive or negative.

The negative effects of international economic sanctions are represented by losing countries that have common economic interests with the countries subject to the sanctions. This is because they are markets for commercial exchange, whether by exporting or importing. This may result in an increase in the cost of goods due to the high cost of transportation or the hike of raw-material prices.

Hence, the Department of Economic Development undertakes issuing appropriate economic decisions on establishing alternative local commercial markets or adopting imports from multiple sources to ensure price stability.

The economic impacts of the indirect international sanctions may be positive if the imposition of the economic embargo on the country where sanctions are imposed results in an exit of international investments or a ban on imports from that country. In this situation, the Department of Economic Development has the right to follow and formulate appropriate economic policies in issuing decisions that attract international capital and activate incentives for local industries and internal/ international trade that compensate for the absence of the country subject to the sanctions.

Finally, Ras Al Khaimah Department of Economic Development is recognized for its leadership in making appropriate economic decisions for each stage, to ensure the economic superiority of Ras Al Khaimah as a major factor in the superiority of the UAE economy in the short and long term

.

Judge/ Walid ElRefai RAK DED Legal Consultant

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BUSINESS

TECHNOLOGY MAE IN RAK STUDIES

Mouza Almarzooqi, Head of Economic Studies at “Trends Research & Advisory

IGCF 2023: UAE LEADS GLOBAL DEVELOPMENT INDICES 24

Recent study conducted by Abu Dhabi-based Trends Research & Advisory, titled “Human Capital Management in a Crisis-ridden World: How to Preserve and Develop Wealth in Light of Global Economic Challenges,” highlighted the UAE’s consistent prominence in international human development indices. This achievement can be attributed to the nation’s unwavering commitment to the development of public expenditures in education and healthcare, significantly enhancing the population’s quality of life and socio-economic well-being.

Presented at the 12th annual International Government Communication Forum (IGCF 2023), organized by the Sharjah Government Media Bureau (SGMB), the study analyzed investment trends in healthcare and education from 2000 to 2020.

Mouza Almarzooqi, Head of Economic Studies at Trends Research and Advisory, emphasized the UAE’s longstanding dedication to education. Over the years,

BUSINESS

TECHNOLOGY

UAE has maintained its progress in human development indices thanks to increased spending on education and healthcare and its short-term impact on economic crises public spending on healthcare increased from 7.5% in 2000 to 10.4% in 2020, with its share of GDP rising from 1.6% in 2000 to 3.4% in 2020. These findings underscore the UAE’s commitment to enhancing the quality of education and providing continuous learning opportunities for all.

The study further emphasized that consistent and high-quality investments in training and education act as a safeguard for human capital during economic crises. The expansion of the working-age population, coupled with the provision of good healthcare services, ultimately strengthens a nation’s economic resilience in the face of international crises.

Government expenditure on population health serves the greater purpose of safeguarding human capital during cross-continental crises, such as pandemics. This highlights the importance of supporting the private sector’s role in improving human capital indices, ultimately increasing per capita income and reducing poverty.

The study concluded with several recommendations. These include enhancing the efficiency of public and private spending by directing investments toward human capital, continually assessing the effectiveness of public expenditure on education and health, and supporting the banking sector’s role and social funds in providing emergency support during crises.

The study suggested the development of national plans based on successful international experiences to preserve human capital in the long term. It also recommended increasing investment in education and training, considering technological advancements, and fostering the localization of technology to expand local job opportunities.

World of Coffee Dubai 2024 to shape a more sustainable future for the industry The World of Coffee Dubai 2024, scheduled for January 21 to 23, 2024, is poised to make significant strides in bolstering the sustainability of the global coffee industry. The exhibition, organized by DXB Live, will converge thousands of coffee professionals, aficionados, and experts from around the world to address the growing demand for sustainable coffee production. This event has solidified its reputation as one of the coffee industry’s most prominent international exhibitions.

This third edition of the exhibition marks substantial growth in the regional coffee market and serves as a crucial platform for unveiling innovations, sustainable practices, and solutions in coffee cultivation, production, and distribution.

The coffee market is projected to expand by 15 to 20 % in the coming months, creating a pressing need for certified sustainable coffee production.

Participants and exhibitors at the World of Coffee Dubai 2024 will underscore the significance of eco-friendly practices in the coffee industry. Focus areas include the use of biodegradable and recyclable coffee packaging, carbon-neutral coffee production through renewable energy and waste management, and reduction of waste during production via advanced drying techniques, optimized supply chains, organic farming, and pesticide alternatives.

The exhibition’s overarching objective is to empower and support coffee farmers and workers by offering guidance on sustainable farming practices and essential resources through source verification programs. The event will also explore the sustainable coffee movement’s role in water conservation, as the coffee industry is a substantial water consumer, aiming to boost coffee quality and market value.

Key elements of the sustainable coffee movement include environmentally friendly farming methods, such as reduced pesticide and chemical fertilizer use, and cultivating coffee under tree canopies to mimic natural forest conditions, thereby enhancing ecological balance, biodiversity, and coffee quality. Labels like ‘Shade-Grown Coffee’ and ‘Direct-Trade Coffee’ are instrumental in promoting these practices, ensuring fair compensation for farmers and high-quality beans for roasters and consumers RAK BUSINESS

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UAE JOINS WORLD ECONOMIC FORUM EDISON ALLIANCE

T

The UAE has joined the EDISON Alliance, a global initiative launched by the World Economic Forum (WEF) to advance digital inclusion and accessibility, to be a key partner in its Lighthouse Countries Network in adopting advanced technology and digital solutions.

The UAE along with Honduras, and Togo join the existing founding members – Bahrain, Bangladesh

26

and Rwanda – which are already making significant progress in advancing digital inclusion. These countries are actively working to improve millions of lives in their respective regions, by 2025, through measures such as sponsorships, provision of digital devices, and digital literacy and training. Together, they form a united front in the network’s mission to accelerate the achievement of national digital inclusion goals in connectivity, health, education and finance.

His Excellency Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, said: “The UAE’s inclusion in the EDISON Alliance is proof of our commitment to ensuring the well-being of its society and its proactive steps and goals”.

Al Olama added: “In the UAE, we believe that everyone deserves to be empowered and leverage digital means for better education while simultaneously addressing key barriers to universal digital inclusion. The alli-

BUSINESS

ance’s goals align with the UAE’s approaches in the fields of technology, education, healthcare, finance and the future, enhancing our national initiatives to expand the impact of digital reach and ensure accessibility, increase digital literacy and create a significant global impact.”

“We are firmly committed to including all social actors in the digital economy,” said Luther Castillo Harry, Minister of Science, Technology and Innovation of Honduras. “Honduras’s integration into the EDISON Alliance will strengthen synergies with global collaborators to achieve this common vision.”

Cina Lawson, Minister of Digital Economy and Transformation of Togo, said: “By leveraging technology, Togo is paving the way for an effective and efficient social protection program that fosters socio-economic advancement and gender equality. By leveraging the alliance’s global network and resources, Togo aspires to accelerate its digital transformation agenda, ensur-

DEVELOPMENT

ing that every citizen benefits from the power of digital technology and achieves a life of dignity and empowerment.”

Sebastian Buckup, Head of the World Economic Forum’s Centre for the Fourth Industrial Revolution, said: “The EDISON Alliance Lighthouse Countries Network is gaining momentum with the inclusion of the UAE along with Honduras and Togo, intensifying our mission to impact one billion lives. Our founding Lighthouse Countries, such as Rwanda, are utilizing EDISON’s partners to move toward a cashless society.

Bangladesh is fortifying its education system through digital technology, and Bahrain is promoting gender equality in STEM. As we broaden our reach, we bridge the digital divide and foster global connections.”

As estimated 2.6 billion people worldwide still lack internet connectivity, which denies them access to crucial life services such as education, healthcare and financial opportunities, the EDISON Alliance has reached a significant milestone by crossing the halfway mark in its ambitious endeavour to positively impact 1 billion lives through over 200 digital inclusion initiatives spanning 90 countries.

The Lighthouse Countries Network was established in May 2022 in collaboration with the United Nations Development Programme (UNDP) and the Government of Rwanda, serving as a global platform for implementing alliance projects on a local scale. The expansion of the network marks a significant step forward in advancing the goals of the alliance’s 1 Billion Lives Challenge. The network is poised to foster new partnerships, scale initiatives and further digital inclusion objectives at the national level.

The World Economic Forum’s EDISON Alliance brings together leaders from across industries and governments to mobilize a global movement for digital inclusion. The alliance is working with partners to empower policy-makers and relevant stakeholders with the tools they need to accelerate the implementation of the UN 2030 Agenda for sustainable development.

The World Economic Forum’s Sustainable Development Impact Meetings 2023 are taking place in New York. More than 1,000 business leaders, policy-makers, leaders from international and civil society organizations, innovators and social entrepreneurs will come together in person to advance concrete progress on the SDGs.

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F

FISH SECTOR

ECONOMIC ENHANCEMENT AND REVENUE DIVERSIFICATION PRESENTED BY DR. TALIB HASSAN HAYALI ECONOMIC EXPERT, RAK CENTER FOR STATISTICS & STUDIES

More than 400 species of fish live in the waters of Ras Al Khaimah, in addition to other types of living organisms. This diversity enhanced the emirate’s productive capabilities in fish wealth and helped securing a financial resource for both government and private sectors. This also contributed to providing job opportunities, not only for approximately 1,446 citizens, but also for expatriates whose number was even more in 2021. These jobs include boat owners, fishermen, and fishing workers. There are 1,267 officially registered fishing boats, of which the production reached 17,235 tons of fish in the same year, 44 kilograms per boat, compared to 7 kilograms at the state level and 20 kilograms globally, with an annual average of 14 tons per boat.

The agriculture, forestry, and fishing sector contributed about 5% of the emirate’s gross domestic product in 2021, while fishing contributed about 25% in the sector. The contribution of fishing to the emirate’s gross domestic product was approximately 1.2% in the same year.

This study attempts to shed light on the reality of this key sector and its role in the emirate’s economy

28

for the period 2017-2021, as it is one of the sectors that made an effective contribution to providing basic food for the population in general and citizens in particular.

A. Fish Production in Ras Al Khaimah The distinguished location of Ras Al Khaimah helped having wide bodies of water with different depths. This helped diversify fishing sites, increase quantities of fish caught, and provide a basic and important daily food.

In addition to increasing trade exchange with local and foreign markets, Ras Al Khaimah produced approximately 17,235 tons of fish in 2021 compared to 17,051 tons in 2020, an increase of 1%. The production capacity is estimated at about 25% of the country’s production, with an annual average of 44 kilograms per capita of the emirate’s population, compared to 7 kilograms at the country level and about 20 kilo-

BUSINESS

Figure (1) Quantity of fish caught in Ras Al Khaimah according to boat type 2017-2021

75,615

75,287

17,046

17,032 14,567 2,456

14,579 2,467

2017

2018

Diesel

Petrol

72,117

71,388

17,056

17,051

17,235

16,560

15,569

16,240

496

1,482

995

2019

2020

2021

RAK

UAE

67,944

STATISTICS STUDIES

grams globally. This means that the average per capita share of fish in Ras Al Khaimah is double more than its counterpart at the global level and six times more at the state level. Note that the emirates of Sharjah and Ras Al Khaimah are the main source of fish production in the country, as they produced about 46% of its fish production in 2021. The UAE ranks third in the Gulf in fish production, accounting for 17% of Gulf production after the Sultanate of Oman and Saudi Arabia. See Figure (1).

B. Fishing boats and numbers of fishermen The licensed fishing boats in the emirate reached 1,267 boats in 2020 and 2021, including 1,250 boats powered by petroleum (99% of the total boats) with a production capacity of 16,240 tons in 2021. As for diesel boats, their

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number reached 17 boats, producing 995 tons at a rate of 1%. Ras Al Khaimah comes in second place after Sharjah, with a share of 22% and 25%, and together they own about 48% of the fishing boats in the country. The average annual production per boat in the emirate was about 14 tons of fish.

As for Emirati fishermen, their number jumped from 1,100 fishermen in 2020 to 1,446 in 2021, an increase of 31%. Ras Al Khaimah comes in second place after Sharjah at the state level, with a rate of 23% and 27%, respectively, as there are about 50% of fishermen at the state level in 2021. See Tables (2) and (3), and Figure (2- A, B))

Figure (2A) Fishermen in the Emirate to the State 2021

Table(1) : Fishing boats by type of fuel in Ras Al Khaimah 2017-2021

Total

UAE

%

UAE

1147

5976

19.1

Ras Al Khaimah

15

1268

6025

21.0

1253

15

1268

5961

21.2

2020

1250

17

1267

5692

22.2

2021

1250

17

1267

5672

22.3

Years

Petrol

Diesel

2017

1124

23

2018

1253

2019

(RAK)

Figure (2B) Emirate boats to state boats 2021

Source: Federal Competitiveness and Statistics Authority

Table (2): Number of Emirati Fishermen in Ras Al Khaimah 2017-2021/ Tons Years

Emirati fishermen in Ras Al Khaimah

Emirati fishermen in the UAE

%

2017

985

5262

18.7

1471

6523

22.6

1092

6152

17.8

1100

5136

21.4

1446

6218

23.3

2018 2019 2020 2021

UAE Ras Al Khaimah

Source: Federal Competitiveness and Statistics Authority

Table (3): Contribution of fish to Ras Al Khaimah GDP 2017-2021 /million AED

Years

2017 2018 2019 2020 2021

Agriculture and Fishing forestry (2) (1)

Agriculture production (3)

GDP

1,381

461

1,842

39,751

75

25

1,429

476

1,905

41,015

74

25

1,450

510

1,960

40,813

74

26

1,477

519

1,996

38,156

74

26

1,536

512

2,048

39,911

75

25

Source: Federal Competitiveness and Statistics Authority

30

Percentage Percentage of agriculture of fishing %% and forestry (2 /3) % (1 /3)

C. Contribution of fish to the agricultural sector and GDP: The agricultural, forestry and fishing sector contributes 5% of Ras Al Khaimah gross domestic product, amounting to AED 2048 million in 2021. The average annual contribution of fish wealth was AED 496 million, with an average rate of 25% in agricultural production during the period 2017-2021. The average annual contribution to the emirate’s gross domestic product was 1.2% for the same period. Note that the value of the sector’s fishing production declined slightly (0.01%) in 2021 compared to 2020, and the contribution to the sector decreased by one point. See Table (4) and Figure (3 - A, B).

BUSINESS

STATISTICS STUDIES

D. Fisherman and boat productivity in Ras Al Khaimah 2017-2021: Fishing effort during the study period 2017-2021 was based on three main variables: fish production/quantity of fish caught, number of fishing boats, and number of fishermen. By reviewing these variables, some observations were drawn as follows: 1. There is a continuous change in the numbers of citizens working in the fishing profession at the emirate and state levels. This change resulted in a decrease in fisherman’s productivity in Ras Al Khaimah from about 17 tons in 2017 to 12 tons in 2018, and from 16 tons in 2020 to 12 tons in 2021. The reason was the jump occurred in the number of Emirati fishermen in 2018 and 2021 despite the increase in production in these two years - but at a lower rate than the increase in the number of fishermen - with fishermen’s productivity stabilizing at around 16 tons in 2019 and 2020, see Table (5) and Figure (4).

2. The total number of fishing boats, both petroleum and diesel, witnessed a kind of stability, especially after their number increased by 11%. in 2018 compared to 2017. But this increase did not lead to an increase in the boat productivity that year, but rather led to a decrease in it from about 15 tons in 2017 to 13 tons in the following year, after which the boat productivity stabilized at around 14 tons for the rest of the period. See the same table and figure.

Figure (3A) Contribution of fish to agricultural domestic product 2021

Fishing percentage Agricultural percentage

Figure (3B) Fish contribution to GDP 2021

Fish contribution to GDP 2021

E. Evaluating the performance of Ras Al Khaimah Fishermen Cooperative Society: According to the statements of the Fishermen Cooperative Society, there are some observations summarized as follows: 1. There is one society for fishermen in Ras Al Khaimah, with an annual average of 310 members during the period 2017-2021. It had 298 members in 2017, and it increased to 315 members in 2021, an increase of 6%. See Table (8).

2. The Society’s average annual capital amounted to AED 435 thousand for the same period, and there were no major changes in it, but rather they were simple and limited. See the same table.

3. The Society’s annual revenues declined by about 57% from 2018 to 2021. Revenues reached AED 1,016 thousand in 2018, but they declined to AED 436 thousand in 2021.

For the last two years, revenues decreased by (3%) from AED 449 thousand in 2020 to AED 436 thousand in 2021.

See the same table.

4. The decline in the Society’s revenues had a negative impact on its annual profits. The losses amounted to about AED 79 thousand in 2020 and 2021, respectively, after losing AED 106 thousand in 2019, at a rate of (3%).

Table (4): Boat and fisherman productivity in Ras Al Khaimah 2017 - 2021 / tons Fish produc-

Boat

Number

Fishing

Number of

produc-

tion

of Emirati

Productivity

In tons

fishermen

in tons

2017

17032

985

17.3

1147

14.9

2018

17046

1471

11.6

1268

13.4

2019

17056

1092

15.6

1268

13.5

2020

17051

1100

15.5

1267

13.5

2021

17235

1446

11.9

1267

13.6

Years

boats

tivity In tons

Source: Federal Competitiveness and Statistics Authority

These losses are modest compared to those incurred in 2018, amounting to AED 440 thousand. Note that the Society recorded annual profits amounting to AED 351 thousand in 2017, and since that time it has not recorded any profits until 2021. In general, these losses are being weathered since 2019, see Table (8).

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F. Fish Foreign trade in Ras Al Khaimah From the data in Table (5) on foreign trade in fish and crustaceans, the following can be noted: 1. There is a fluctuation in the value of fish supplied to the emirate during the years 2017-2021. After it was AED 66 million in 2017, it rose to AED 84 million in 2019, and declined to AED 46 million in 2020. A year later, it increased to AED 49 million, an increase of 7%, noting that the quantity of fish caught reached about 17 thousand tons in 2021.

2. The value of total exports of fish and crustaceans increased from one million dirhams in 2020 to 3 million dirhams in 2021, an increase of 149%. The reason for this is the increase in the value of re-exports compared to the value of exports.

3. Fish trade balance suffers a clear and significant imbalance during the years 2017-2021 because of the increase in imports over exports. The increase in local demand for fish, particularly for rare species, is the reason behind this imbalance, especially after the expansion of tourism and hotel sector in Ras Al Khaimah. despite the increase in the per capita share in the emirate to 44 kg annually, which exceeds the share of its counterparts at the state level and the world, as we mentioned previously. The per capita share in Ras Al Khaimah is also considered high, reaching 44 kg annually, which exceeds the share of its counterparts at the state and world levels, as previously mentioned.

4. The Sultanate of Oman ranks first in foreign fish trade with Ras Al Khaimah, in terms of imports and total exports during the years 2019-2021. This trade controls about two-thirds of imports and most of the exports and re-exports for the years mentioned, followed by Somalia, Iran, and Japan, respectively. See Table (10).

G. Potential of fish sector development in Ras Al Khaimah To regulate the fishing craft and raise the efficiency of performance in Ras Al Khaimah, one must be open to the experiences of others to learn about the best practices. This will help in making decisions, and therefor, developing and improving the performance of this vital sector. This includes: 1. Providing federal and local government financial and technical support for this sector, especially for fishermen, to preserve this profession and ensure its development and sustainability.

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Figure 4- Fisherman and boat productivity in Ras Al Khaimah 2017-2021 14.9

2017

17.3 11.6

2018

13.4 13.5

2019

15.6 13.5

2020

15.5 11.9

2021

15.6

Boat productivity

Fisherman Productivity

Table (5): Economic performance of Fishermen Society 2017-2021 Thousand dirhams Year

Members of Society )individuals(

Capital

298

298

431.2

956.4

350.5

310

310

437.6

1015.5

)439.5(

310

)105.7(

Annual revenue

Annual profits

310

435.6

740.9

315

315

435.6

448.7

)78.5(

315

315

435.6

435.6

)78.5(

Source: Federal Competitiveness and Statistics Authority

Table (6): Structure of foreign trade in fish and crustaceans in Ras Al Khaimah 2017-2021 Trade balance

Total Exports

Re-Export

Exports

Imports

298

)64,986,777(

730,478

699,369

31,109

65,717,255

310

)70,179,358(

1,131,764

707,171

424,593

71,311,122

310

)82,834,917(

714,906

622,526

92,380

83,549,823

315

)45,232,528(

1,047,062

1,047,062

0.0

46,279,590

315

)46,699,109( 2,608,909

2,379,996

228,913

49,308,018

Year

Source: Federal Competitiveness and Statistics Authority

The sustainability and inclusivity strategy for future fishery wealth pertains to ensuring the continued use and development of natural resources in a way that meets the needs of the current generations without negatively impacting the ability of future generations to meet their needs.

BUSINESS

STATISTICS STUDIES

CONCLUSION

2. Fish farming inside and outside the sea in cooperation with the Ministry of Climate Change and Environment. This aims at providing rare quantities and types of fish that meet the satisfaction of consumers and tourists and increase exports.

3. Providing fishing means, areas, and ports in Ras Al Khaimah, as these are important for the sector infrastructure.

4. Regulating fishing and determining its rates to preserve and protect fish stocks in accordance with the Ministry’s laws and instructions, which must have a scientific reference based on accurate statistical information and data.

5. Supporting and activating the role of the Fishermen Cooperative Society toward the transition from a loss-making Society to an effective one governed by federal and local laws and regulations. The Society, therefore, will serve the sector and consumers, preserve fish wealth, and contribute to planning and innovating modern methods of management and production.

6. Focus on fish data and statistics in the emirate and the country in general. These statistics are very important to decision makers as part of the country’s strategic food stock. they include production data by type, consumption, prices, investment, production, labor force - whether national or expatriate - and fishing boats, in addition to foreign trade and others.

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Million Fish Foreign trade in Ras Al Khaimah in 2021

149%

The value of total exports of fish and crustaceans in 2021

To preserve this important natural wealth and ensure its sustainability, several steps must be taken, the most important of which are the following: 1. The competent authorities in Ras Al Khaimah should coordinate with the Ministry of Climate Change and Environment to contribute to reducing the gap of fish import. This is done by pumping more investments and using modern technology in fish farming and fishing activities as it is an essential and reliable source for protecting food security. In addition, the marine environment must be preserved, and job opportunities must be provided.

2. The role of the Fishermen Society must be revitalized in Ras Al Khaimah. The Society activities must also be diversified to overcoming the losses thereof.

This may take place through coordination with other cooperative societies to market their products, as well as reviving the fish delivery service to homes, restaurants, and hotels at affordable prices. The Society, moreover, should be financially supported by local and federal authorities.

3. Relevant government institutions should cooperate with the Fishermen Society to tackle the issue of monopolization of fish trade by certain nationalities.

Emiratization of this profession, therefore, should be enhanced in Ras Al Khaimah fish markets.

4. Marine Environment Research Center of the Ministry of Climate Change and Environment should be upgraded the to become a center specialized in information, research, and scientific studies on fish.

This center must be managed by specialists working in research and development. They must be able to transfer the results of their research, experiences, and expertise to the various emirates of the country and follow them up in the field. They must also provide advice and training to fishermen and others.

5. Smuggling of fresh fish must be eliminated.

Control and punishment on smugglers must be tightened to ensure market balance, fish quality, and price stability.

6. Emphasize the necessity of providing a safe and cool place on fishing boats to store the caught fish, while adhering to the specified lengths and standards to preserve the fish wealth.

7. The method of paying fish sale lists from fishermen to fish sellers in the market must be reconsidered. They must be paid directly or no later than the end of the working day in the market.

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OVER THE TOP

Abdulaziz Al Melhem

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ENTREPRENEURS OPINION DEVELOPMENT

BUSINESS

ENTREPRENEURS

Abdulaziz Al Melhem

PACKMAN PLATFORM....

START YOUR ONLINE BUSINESS IN A DAY Interviewed by/Khawla Ibrahim

significant shift has taken place in people’s trends. The majority are now shifting towards electronic shopping.

E-commerce, therefore, has begun to compete with the traditional one. It has become necessary for young entrepreneurs to master the principles of online business to ensure success.

From this standpoint, the young entrepreneur Abdulaziz Al Melhem came up with the idea of establishing an e-commerce platform. The platform aims to support youth entrepreneurs and fill the gaps facing them according to their projects and needs. For more about this pioneering project, RAK Business Magazine met with Abdulaziz Al Mulhim - founder and CEO of “Packman”.

Tell us about the beginnings and the launch of your project!

As a child, I have been passionate about entrepreneurship, trade, and marketing. I kept asking myself, how were major companies able to achieve the tremendous growth that led them to develop into international markets?! how did they achieve continuity and sustainability in their businesses, expand into other projects, and enter global financial markets?! I followed up their business activities and growth plans, and I let my passion leading me into entrepreneurship. We established Packman platform in 2020 to provide innovative solutions and services in e-commerce. The goal is to support the development of small and medium enterprises and enable young entrepreneurs to start their online business within one day and from one place. We provide

them with all their needs, according to subscription packages at prices suitable for all, which include designing websites, electronic payment, providing local and international delivery services, preparing sales reports, and providing storage and packaging services. Thus, they will be provided with a rapid qualitative leap towards the world of online business in a timely, cost-effective manner.

Why Packman?

The idea of Packman platform came to provide solutions to e-commerce problems that entrepreneurs may face. These problems may stem from the low technical expertise and from the SMEs lack of their own costly website. These enterprises, therefore, resort to promoting their products through social media applications in an irregular manner that is effort and time consuming.

Packman addresses all these obstacles to help and enable entrepreneurs to start their business in the right way and put it on the right track. We guarantee the growth and continuity of their business and enable them to enter the world of online business and global markets easily, cheaply, and fast.

Who are Packman customers and what do you offer them?

The largest percentage of Packman subscribers are young entrepreneurs from the UAE and the GCC. It is noteworthy that women are interested in starting their own businesses, constituting 70% of subscribers.

As mentioned, this initiative coincides with the increasing demand among consumers for electronic

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BUSINESS

ENTREPRENEURS

purchasing options. It makes it easier for entrepreneurs to launch and follow up their businesses through an elegant and smooth website with online payment service and local and international delivery services, in addition to complete customer management and delivery operations. This will enhance their businesses by reaching the largest segment of targeted consumers via the website.

If you provide all these benefits and services, what are the duties of entrepreneurs then?!

What we offer are just tools that assist entrepreneurs in directing their project in the right direction. Entrepreneurs, in the other hand, possess creativity and seek growth and continuity in marketing and creating daily content to be published on social media platforms. They need to focus on entering new markets and excelling in products or services they provide.

With rapidly developing technologies, how do you keep up with this tremendous evolution? Are there any challenges faced?

From the very moment of launching “Packman,” and because of the specificity of the sector in which we work, that is closely linked to the rapid developing technology, it was necessary to keep pace with this development. This is to gain the trust of our customers and meet their expectations by programming and adding new features to Packman platform.

Every work has obstacles, and these are basic things that push us to be aware of the challenges to face. We have set big goals that push us towards greater creativity.

Thank God, we are in a country that does not know the impossible, and our rulers are our role models.

Today, online business seems to be accessible to everyone. Based on your experience, how true is this?

Yes, online business is an integral part of the “extra income” concept. The start-up costs are relatively reasonable in terms of finding a product for a target segment of customers to be sold to by creating appro36

priate and attractive content on social media platforms. Entrepreneurs must constantly develop themselves, especially since information has become accessible to everyone. They must take the initiative to acquire the knowledge that develops their businesses and ideas.

The government provides huge facilities for young people to do business, in addition to the advanced technical infrastructure. How did you benefit from these facilities?

Thanks to the wise directives of the UAE rulers, young people have been provided with a suitable and developed environment that contributes to the success of their projects. At Packman, we are proud to be part of the pioneering business system that is thriving and growing with the support and supervision of our visionary leadership.

We are committed to continuing this journey of success in a way that meets the goals of government initiatives. This is done by providing an integrated platform that offers all online-business requirements for enterprises to enter the global competitive scene.

Praise be to God, there has been cooperation with official bodies such as Dubai Economic Department, Ras Al Khaimah Department of Economic Development, and Abu Dhabi Businesswomen Council to support business projects fall under their competences.

Where do you see Packman in the future?

We are passionate about working around the clock to achieve our goals towards more expansion and success. We are working on several plans that will enable Packman to provide its services worldwide.

What is your advice to youths?

Your time is valuable, don’t waste it in vain. Set lofty goals for yourself and take advantage of your youth by planning to implement these goals. Later, live your life after achieving your goals.

Do not let capital stand in the way of your business. If you have a strong idea supported by a clear plan, you must find the hands of investors extended.

Do not forget that our visionary leadership has provided youths with all the facilities and overcome all difficulties to launch their own projects. This is your opportunity to get started.

BUSINESS

Transforming Outdoor Living: How 3D Printing is Shaping the Future of Furniture The 3D printing revolution is poised to redefine the landscape of outdoor furniture, offering a range of benefits and opportunities. In this article, Mr. Badar Rashid AlBlooshi, Chairman of 3DXB GROUP, highlights how 3D printing technology is set to transform the outdoor furniture industry.

Design Freedom: One of the most significant advantages of 3D printing is its capacity to push the boundaries of design. Unlike traditional manufacturing methods that impose constraints on intricate details and complex shapes, 3D printing liberates designers to explore innovative and imaginative designs. This newfound design freedom allows for the creation of outdoor furniture with intricate patterns, ergonomic contours, and visually striking forms that were previously unattainable. Designers can now offer unique and personalized outdoor furniture pieces.

Personalization and Customization: 3D printing offers an unprecedented level of customization for outdoor furniture. Collaborating with companies like 3DXB Group enables designers to craft pieces tailored to individual preferences, reflecting personal styles and tastes. This technology empowers consumers to express their creativity and preferences, leading to a more personalized and engaging outdoor living experience.

Sustainable Manufacturing: The demand for sustainable manufacturing practices is on the rise. Traditional furniture manufacturing often involves resource-intensive processes, wastage, and transportation costs.

In contrast, 3D printing allows for on-demand production, reducing material waste and the carbon footprint associated with transportation. By using sustainable materials like recycled plastics or biodegradable fila-

AN OPINION

ments, 3D printing contributes to eco-friendly outdoor furniture solutions. This shift towards sustainable manufacturing aligns with global efforts to adopt greener practices and offers a more environmentally conscious approach to furnishing outdoor spaces.

Durability and Material Innovation: Initial concerns about the durability and strength of 3D-printed objects have been addressed through advancements in materials and techniques. Modern 3D printers can produce outdoor furniture pieces with robust structural integrity and weather resistance.

High-performance materials like reinforced polymers can be used to ensure that 3D-printed outdoor furniture can withstand the elements. This means that 3D-printed outdoor furniture can offer longevity, reliability, and performance on par with, if not surpassing, traditionally manufactured pieces.

As 3D printing technology continues to advance, its transformative potential in the outdoor furniture industry becomes increasingly evident. From groundbreaking designs to sustainable manufacturing practices, 3D printing allows us to reimagine outdoor spaces and redefine how we interact with outdoor furniture. As this technology matures, we can look forward to a future where customized, durable, and environmentally friendly outdoor furniture is just a print away, revolutionizing the way we experience and engage with the outdoor living environment

By : . Badar Rashid AlBlooshi Chairman of 3DXB GROUP ‫ــــــــــــــــــــــــــــــــــــــــــــــــــــــــ‬

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BUSINESS

EVA SKIDMORE THURAIYA ALHASHMI

Joins the Board of Directors of New Development Bank Thuraiya Hamid Alhashmi, Director at the UAE Ministry of Finance, has been elected as a member of the Board of Directors and Constituency Director at BRICS’ New Development Bank (NDB). This appointment, resulting from an internal voting process during NDB’s 8th Annual Meeting in Shanghai, marks her as the first Emirati and Arab woman in such a position. Alhashmi’s role will enable her to represent the UAE’s interests and contribute to financial matters globally, setting an example for Emirati women in international leadership roles. Her expertise will enhance the UAE’s support for infrastructure projects and sustainable development goals through its participation in NDB, which plays a vital role in promoting international collaboration for sustainable development across emerging and developing economies.

The UAE became a member of BRICS’ NDB in 2021.

AHMED FATEEN

Deputy to the Chief Commercial Officer for Distribution Channels at “Schneider Electric Schneider Electric has appointed Ahmed Fateen as Channel Commercial Vice President for the UAE, Oman, and Bahrain markets. He will lead business growth, oversee commercial strategy, and enhance customer integration. Fateen, previously Vice President of Power Systems for the Gulf region, brings expertise in sustainable utility designs from his experience in various geographies. His role aligns with Schneider Electric’s mission to assist customers in optimizing energy use as Oman, the UAE, and Bahrain aim for net-zero emissions by 2050 and 2060, respectively. Fateen joined Schneider Electric in 2006 and has held diverse roles, making him well-suited for this position.

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NEW HIRIGN

New Chief Marketing Officr at JAGGAER, JAGGAR the global leader in Autonomous Commerce, today announces the appointment of Eva Skidmore as Chief Marketing Officer. Skidmore will oversee global marketing for the organisation and focus on driving customer demand as the company enters a new phase of growth.

Eva joins JAGGAER from Salesforce, where she served as CMO Public Sector and Vice President of Field Marketing for Public Sector, Education and Nonprofit – sectors in which JAGGAER also excels. She was responsible for creating growth marketing plans, driving brand awareness, and leading demand generation globally. Prior to her time at Salesforce, she held marketing and channel roles at Socrata, Oracle (RightNow) and Microsoft.

BUSINESS

The World of Business and Communication

Part (2)

YOUR PAVED ROAD TO SUCCESS In today’s fast-paced business environment, effective communication is a critical component of success. With the advent of remote communication technologies and the challenges posed by varying time zones and geographical locations, it has become increasingly important to schedule communication appropriately. Additionally, embracing truthful conversations, paying close attention to others, and responding promptly are essential for fostering strong professional relationships. Let’s explore the fundamental aspects of scheduling and conducting effective communication.

Scheduling for Success Communication technologies have revolutionized the way we interact, but they also present challenges such as distractions, a lack of focus, and limitations in effective communication. One of the key issues is the conflicting time zones and locations of different stakeholders. To overcome these obstacles, it is crucial to set convenient times and locations for meetings, whether they are held online or in person. Agreement on mutually suitable schedules ensures that communication channels remain efficient and that participants are not burdened by inconvenient timing.

Honesty and Respect Effective communication is not just about delivering good news. Business leaders and stakeholders must be prepared for challenging discussions that may involve delivering unfavorable information. When addressing such issues, it is important to ask appropriate questions, listen attentively, and anticipate potential negative reactions. By investigating and understanding all aspects of an issue, perspectives may change, leading to better solutions that benefit all parties involved. Respect for differing opinions is essential, and the goal should always be to reach a positive outcome.

DEVELOPMENT

behind them. This level of attentiveness demonstrates care for individuals, both as stakeholders and on a personal level. Building trust, establishing strong professional relationships, and gaining a deeper understanding of others’ perspectives are possible when we actively listen to one another.

Timely Responses Responding promptly is vital in the business world. Delays in communication can lead to project setbacks and impact overall operations. A recent survey revealed that 68% of respondents reported experiencing business delays due to waiting for information from others. The average waiting time was 3.5 hours per week, a significant amount of time in the business context. Poor communication was cited as a leading cause of project delays by 28% of respondents.

Responding within a reasonable time frame is critical to maintaining efficiency and productivity.

Identifying Target Audiences and Communication Channels Effective communication can be challenging when you are unsure about your audience’s preferences and the best channels to use. Therefore, it is essential to understand who you are communicating with and how they prefer to interact. Determining your target audience, their communication preferences, and options helps streamline your communication strategy, making it more efficient and effective.

References: http://.slack.com/blog/collaboration/ effective-business-communication-techniques

The Power of Attention Paying attention is a fundamental step in improving communication skills. It involves not only hearing the words spoken but also recognizing the emotions and tone

Imad Eddine Oubiri Business Development Advisor, United Arab Emirates ‫ــــــــــــــــــــــــــــــــــــــــــــــــــــــــ‬

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TOURISM

The Highest Ever Half-Year Arrival Numbers,

RAS AL KHAIMAH WELCOMING 600K VISITORS TO THE NATURE EMIRATE

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UPDATE DEVELOPMENT MARKETS

Ras Al Khaimah Tourism Development Authority (RAKTDA) announces a record-breaking first six months, with the Emirate reporting its highest ever half-year arrival numbers.

The impressive performance saw Ras Al Khaimah welcome 600K visitors between January and June 2023, a total increase of 14.8% versus H1 2022 and the highest ever tourism-related revenue achieved for a half-year period.

Reinforcing its position as a destination of the future, the results follow a series of strategic investments, partnerships and initiatives to boost tourism, setting a path for continued growth in 2023 and beyond. First half achievements include: • International tourism rebound accounting for over 52% of all visitor arrivals to the destination

TOURISM

• Took a step closer to becoming the regional leader in sustainable tourism by 2025, Ras Al Khaimah Tourism Development Authority achieved Silver Certification, becoming the first EarthCheck certified tourism board in the Middle East • Expanded its aviation strategy by partnering with Qatar Airways to leverage its 150+ country global network to provide direct access to the Emirate • Signed an agreement with FTI GROUP, one of Europe’s leading outbound tour operators, to drive inbound traffic from Germany and increase visitation from one of the Emirate’s top five visitor source markets • Unveiled the design vision for the USD $3.9 billion Wynn Al Marjan Island, the largest foreign direct tourism investment project, set to open in early 2027 • Significant increase in demand (room nights) with year-on-year growth of +33.6%, thanks to the addition of new hotel brands in the Emirate in 2022 • Announced the addition of Earth Hotels, Le Meridien and Nobu Hotels to its growing hotel portfolio, with plans to double the number of guest rooms over the coming years – one of the highest growth rates in the region • Received six calls by four luxury cruise liners, welcoming over 2,500 passengers and crew • Increased MICE room nights by 26% vs.

H1 2022 driven by international incentive groups • Hosted several key events including the 16th edition of the Ras Al Khaimah Half Marathon, Arab Aviation Summit, DP World Tour and Exotic Wedding Planners Conference (EWPC) • Held the official draw for the region’s first ever WMF Minifootball World Cup, taking place from October 26th to November 4th • Introduced civil law marriage licenses, and new wedding incentive and certification programmes to bolster the Emirate’s position as a wedding destination • Raki Phillips, CEO of Ras Al Khaimah Tourism Development Authority, named one of Forbes Middle East’s Top 100 Travel

UPDATE

& Tourism Leaders and Businessperson of the Year by Arabian Business earlier this year • Launched ‘Get More’, a brand-new digital-first summer campaign, which generated more than half a billion impressions and over 2.5 million clicks, exceeding industry benchmarks.

“2023 is shaping up to be the Emirate’s best year to date, with our first half results proving the efficacy of moving fast, staying relevant and just getting things done,” said Raki Phillips, CEO of Ras Al Khaimah Tourism Development Authority. “It’s essential we remain agile and continue to develop Ras Al Khaimah’s tourism offering and create diverse and inspiring experiences for all. We have big ambitions and are confident that we will exceed our targets for 2023”.

Al Marjan Island to feature Marriott International’s second hospitality offering on its shores; W Al Marjan Island Marjan, a prominent property developer in Ras Al Khaimah, has revealed a significant collaboration with Marriott International, Inc., and Dalands Holding to introduce a W Hotel on Al Marjan Island. This venture is scheduled to open its doors in early 2027 and holds a dual distinction. Not only is it Marriott International’s second hospitality project on the island, but it also marks the debut of a W Hotel in Ras Al Khaimah, bringing the brand’s renowned design, top-tier service, and vibrant programming to the northern emirate.

Situated on Marjan’s flagship archipelago island, against the backdrop of the Arabian Peninsula and surrounded by the Yanas and Jais Mountains, W Al Marjan Island promises to further enhance the appeal of this thriving leisure destination.

With an offering of 300 hotel rooms and suites boasting breathtaking sea views, the property will feature signature spaces such as the Living Room, WET deck, W Lounge, AWAY Spa, and FIT fitness center, in addition to three restaurants and retail outlets.

This development comes at a time when Ras Al Khaimah is emerging as a prominent tourism destination in the region, with ambitions to achieve net zero emissions by 2050, while Bahrain has set its target for 2060.

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Alain

Infatuation at first sight It was the first visit, and at their entrance; it welcomed for you with a big smile and with trees on the both side of it which they have cheering to your coming, so you feel happy and yourself will be at rest, then you will feel like you had been here before, and you will be surprised how you have delayed the visit to Al Ain,It has a lot fields with a dry weather,it covered by green which is studded by golden sand,although it is thousands of years old and still young, it blends without dissonant between modernity and traditions of its people and its cultural heritage. It has its own unique, it is light shade so it will be loved at first sight.

It is rich in many natural tourism potential and ancient heritage which meet the passion of all people. The city attract everyone who seek for tranquility and comfort away from the hustle and bustle of big cities. And although of its small area but it has many events and tourist sites,entertainmentand heritage which fill the day of the visitors without any tiredness or repletion. Here we want to tell you how you could spend the weekend in this city.

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A journey through the history of the UAE: The journey starts by diving in the history of the UAE and learn about the culture since its inception.Al Ain city is rich with many museums, castles and forts, which tell the story thoroughly,starts with Al Ain National Museum which tells the story and the stages of son of UAE before the oil discovery, also it is it has a documentation of the methods and tools of agriculture and trips for searching for Pearl. In addition to that, the monuments section which contains archaeological finds ranging from distant eras dating back to the stone ages, right up to the era of Islam.

While Al Ain Balance Museum was the former home of the founder of the United Arab Emirates late His Highness Sheikh Zayed bin Sultan Al Nahyan. It contains a wide of special and private things of the royal family. Visitors can explore the private rooms and gardens where was the “father of the nation” stayed and wandered around in the past.

Also, the forts in the city attest to the authenticity of the people of the UAE and its depth of the connection with history.

They were restored and taken over in order to convert it into tourist destinations to make the visitors happy.

Al Ain Zoo It is home to abundant numbers of rare animals around the world, and also for all aquatic animals that have been provided with an environment similar to its original one to reserve its life.

Jebel Haffet: To have enjoy to the Stunning views over the city from a height of 1240 meter, you have to go to the rocky summit of Jebel Hafeet by your car, which has an overlook over the entire city and you should pass through the winding road to reach it, or take a taxi or even a bike if you an endurance.

Ain Al Faida Resort: Behind Jebel Haffet you will find a green oasis that contains groups of family gardens and chalets which surrounded by lake with area up to 3km that has boats “Duasih” for ramble and it is the only one in UAE. Also, there are many playing area for kids and adults, gym and bowling hall.

Alain Zoo

Al Ain Oasi

44

Jebel Jafeet

Ain Al Faida Resort

Al Ain Oasis: It characterized by its shady and refreshing pathways and with the Falaj Irrigation System which dates back to the 3000 years.

As well as the only beauty market in AL Ain, which joins the list of the few remaining beauty markets in UAE. Recently Al Ain Oasis has been recognized within the global agricultural heritage sites due to it is officially importance.

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MY DESTINATION

Hilton AL Ain: As one of the witnesses of Al Ain improvement, and so it is as a tourist attraction as it is the first hotel establishments in the city, a place of Sheikh Zayed God rest his soul, to hold meetings and symposiums in private conference building of the hotel. The hotel is located at the middle of gardens with a natural views,it provides a calm setting for guests, it is characterized by an elegant wide foyer and contains three swimming pools, tennis courts andtreatment rooms at the highest level. Also, the hotel provides different flavors of Arabic and Italian cuisine and Mexican cuisine as well as the Middle East dishes, but the most important thing that distinguishes is the view for the sunset where the sun lights illuminate Jebel Hefet as an incredible view which this scene remains very much stuck in the memory.

Where : Khatam Al Shikla St. Tel : 03 768 6666

Motorsports (Go-karts): A mix between speed and enthusiasm, after the completion of the registration procedure and have a detailed explanation by the expert about the components of the vehicle and ways to safety, the adventure begins, led vehicle by a speed of 80 km for 15 minutes in the arena which is considered as the longest in the region, but the moment will not beforgotten when you pressed the provider speed enthusiasm to fill all your senses to reach a climax in an attempt to get you to the best number can be achieved, so to prevent your competitor from outstrip who will not stash any efforts to end the last lap first.

Where: Khatm Al Shakla Tel: 03 768 666 2

Al Ain Equestrian & Shooting & Golf Club: There are many sports and leisure options within this club, beginning with Equestrian Club which aims to improve Horse riding for all levels, and Shooting Club, which has a wide range of fields that are match with the Olympic archery and the International Shooting Federation system, Golf Club, which allows a wonderful and challenging experience for all golfers at various levels, finally it includes three modern stadiums and lit gym, swimming pool, tennis courts and a children’s area.

Where: Khaled Ben Zayed St. Tel: 03 7684888

Wadi adventure: For lovers of water sports, it is necessary to visit the Wadi adventure; the first artificial water park to ride the raft and rowing boats, windsurfing, note it is on the awful tops of Jebel Hafeet.The height of the synthetic waves is up to 3.3 it is the highest one in the world. The garden also has exclusive by itsspecial rowboats channel with length of 1.7 km which is also the longest in the world.

Where: Jabel Jafeet Tel: 03 781 84 22 RAK BUSINESS

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3DXB Group Named ‘Sustainable 3D Printing Company of the Year’ 3DXB Group, a leading regional provider of 3D building solutions, was named the ‘Sustainable 3D Printing Company of the Year’ at the Sustainability Innovation Awards 2023 in Dubai. These awards recognize outstanding achievements and contributions to sustainability initiatives in the Middle East. This accolade acknowledges 3DXB Group’s dedication to advancing the construction industry through cutting-edge 3D printing and sustainable practices, highlighting its role in promoting sustainability and innovation in the region as it strives to meet ambitious sustainability targets.

Al Ansari Financial Services leads the way in Emiratisation: Employs over 360 Emiratis in 9 months Al Ansari Exchange, a subsidiary of Al Ansari Financial Services PJSC, a prominent financial services group in the UAE, has achieved a remarkable milestone by welcoming over 360 UAE nationals in the first nine months of this year, elevating Emirati representation in its workforce to an impressive 13.3%. This accomplishment seamlessly aligns with the UAE’s ‘Projects of the 50,’ reinforcing the group’s commitment to Emiratisation. Moreover, it diversifies the group’s human capital, enhancing the skill and competency levels across its workforce. Rashed A. Al Ansari, Group CEO of Al Ansari Financial Services, expressed his enthusiasm about this milestone, stating, “We firmly believe in the potential and capabilities of our nation’s talent. Our commitment to Emiratisation goes beyond mere numbers; it reflects our sincere belief in the importance of nurturing local expertise and contributing to the development of the financial sector. Each Emirati employee at Al Ansari brings unique skills and perspectives that enrich our corporate culture and strengthen our position in the market.”

Cannon Artes Wins Contract to Build Major ETP for Global Polyolefin Manufacturer in UAE. Cannon Artes, a global water treatment engineering and construction firm, secures a project for building a versatile effluent treatment plant (ETP) for a major polyolefin manufacturer in the UAE. This ETP accommodates diverse influent streams with various pollutants, utilizing up to fifteen unit-operations for flexibility

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in managing changing conditions from upstream processes. The plant complies with stringent standards for organics, oils, suspended solids (TSS), phenols, nitrogen, and more.

Importantly, the plant’s construction aligns with the UAE’s sustainability goals, contributing to a cleaner, greener future, addressing rising water and energy demands. It promotes a circular economy, resource reuse, sustainable industrial wastewater management, and supports the UAE’s sustainability objectives.

Cannon Artes, a global firm with 40+ years of experience in custom ETPs and wastewater treatment, showcases its expertise at ADIPEC 2023 in Abu Dhabi, emphasizing its commitment to sustainability.

TOURISM

Arsenal and Sobha Realty announce new multi-year partnership at signing ceremony in Dubai Arsenal has recently forged a global partnership with Sobha Realty, a renowned luxury real estate developer based in Dubai. This multi-year agreement designates Sobha Realty as the Official Global Real Estate Partner of Arsenal. As part of this collaboration, Sobha Realty will enjoy prominent visibility during all domestic men’s and women’s games held at Emirates Stadium.

The partnership goes beyond the realm of football, with Arsenal and Sobha Realty

MARKETS

joining forces to contribute to the growth and development of the sports industry in Dubai and its surrounding areas. Their cooperative efforts will include hosting various football-related activities such as youth football clinics, tournaments, and seminars. Sobha Realty will also gain naming rights to The WM Club, a premium matchday hospitality suite at Emirates Stadium, which will be officially known as ‘The WM Club, Presented by Sobha Realty.’

Arsenal and Sobha Realty are both enthusiastic about their future collaborations, which will reflect their shared commitment to progress and excellence. To celebrate this exciting partnership, a spectacular drone show featuring 1000 drones will illuminate the skies above Jumeirah Beach Residences in Dubai. This 15-minute performance not only celebrates Arsenal’s rich heritage but also highlights the common values that both brands hold dear.

Kanoo Travel amplifies international presence with Travel Leaders partnership

SunKiss Creates Unique Scents for UAE Hoteliers

Kanoo Travel, a prominent IATA member agency in the GCC and a leading player in the Middle East’s travel industry, has entered into a partnership with Travel Leaders, an international network under Internova Travel Group. The alliance expands Kanoo Travel’s international reach, enhancing its service capabilities and future expansion prospects. Announced at a gala event in Dubai on October 5, this collaboration merges Kanoo Travel’s personalized approach with Travel Leaders’ advanced technology offerings. As part of Internova Travel Group, Kanoo Travel gains access to services such as online booking platforms, marketing tools, a global destination marketing network, and exclusive hotel programs. Additionally, a comprehensive technology suite will enhance client servicing, offering tools for profile management, trip authorization, data analytics, meetings technology, and customer reporting.

SunKiss, a UAE-based developer of sustainable suncare products, has introduced the world’s first custom sun protection fragrance for hospitality brands. This innovative offering allows hotels and hospitality groups to create a unique scent for their properties. SunKiss, known for its ocean-friendly and cruelty-free mineral-based SPF products, now serves the hotel industry with specially designed products such as the Waterside range and the Sunbutler to align with corporate hospitality clients’ demands.

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