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An agreement defining the mechanisms for granting gold accommodation to investors in Dubai

2019-11-19T22:08:21.512Z

Dubai Chamber of Commerce and Industry (DCCI) has signed a strategic partnership agreement with the General Directorate of Residency and Foreigners Affairs in Dubai and the Free Zones Council in Dubai to launch the “Be Part of Dubai” initiative.



Dubai Chamber of Commerce and Industry (DCCI) has signed a strategic partnership agreement with the General Directorate of Residency and Foreigners Affairs in Dubai and the Free Zones Council in Dubai to launch the 'Be Part of Dubai' initiative to define the mechanisms for granting golden residency to business leaders and investors wishing to establish Commercial activity for them in Dubai.

The agreement was signed on the sidelines of the African Business Forum, which ended in Dubai yesterday, and was organized by the Dubai Chamber of Commerce and Industry.

Dubai Chamber of Commerce and Industry (DCCI), as the official business partner of Expo, revealed its preparations to organize the next session of the African World Business Forum during the Expo 2020, through preparations to transform the Forum into an extraordinary session of its kind. And the most comprehensive in terms of participation and attendance from all over the world.

Strategic partnership

The Dubai Chamber of Commerce and Industry (DCCI) signed a strategic partnership agreement with the General Directorate of Residency and Foreigners Affairs in Dubai and the Free Zones Council in Dubai on the sidelines of the African International Business Forum. The directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to activate the permanent residence "Gold Card" for investors and entrepreneurs, in order to facilitate Ululation business, creating an attractive investment environment and encouraging growth in Dubai and the UAE.

Under the agreement, the three parties will work together to identify the priority sectors for attracting investments to Dubai to serve the diversification of the national income sources of the emirate, in addition to working to familiarize investors and members of visiting delegations from the African continent, the nature and size of investment opportunities available in each sector, and stimulus package And facilities provided by the Government of Dubai to facilitate doing business.

The Be Part of Dubai initiative also seeks to attract and retain high net worth individuals by providing a simple and easy way to obtain a golden visa as an incentive to attract and retain them as a major contributor to Dubai's economy.

The agreement was signed by Director General of Residency and Foreigners Affairs in Dubai, Major General Mohammed Ahmed Al Marri, Director General of Dubai Chamber of Commerce and Industry, Hamad Buamim and Secretary General of Dubai Free Zones Council, Dr. Mohammed Al Zarouni.

Relevant authorities

Major General Mohammed Ahmed Al Marri said, “Through this agreement, the Department seeks to join forces with various stakeholders to facilitate the issuance of entry and residence permits to serve the various vital sectors in the Emirate and to contribute as a joint team with the Dubai Chamber and the Dubai Free Zones Council. To facilitate the work environment and make it easier for investors and traders, which would contribute to the promotion and encouragement of entrepreneurship and foreign investment, to make a qualitative leap for the economy in the country ».

The next version

The African Business Forum, organized by the chamber and concluded yesterday, continued with the Director General of the Dubai Chamber of Commerce and Industry, Hamad Buamim, pledging that the next edition of the African World Business Forum will be the most exceptional and comprehensive. In cooperation with the International Chamber of Commerce (ICC), which represents more than 12,000 chambers of commerce around the world, to attract participants and encourage them to participate effectively and distinctly, to take advantage of investment opportunities during the «Expo 2020», where the Chamber will organize 33 global events.

Buamim stressed that the growth in the number of participants, coupled with the increase in the number of bilateral meetings between investors, reflects the global position reached by the Forum, as a platform that brings together decision makers and investors in the UAE and the African continent.

economical development

Zimbabwean President Emerson Mnangagwa called on the world to help the country stimulate economic development in the hope of fulfilling the hopes and aspirations of his people, who took to the streets two years ago in a spirit of peace, unity and hope, and demanded a new beginning.

"We must never give up until we achieve our goals, and we are investing in economic development as never before," Mnangagua said during a session on the sidelines of the fifth session of the African Global Business Forum.

"In Zimbabwe we have a lot of resources, such as lithium, cotton and others, but we will not be able to improve our national economy without the potential to turn these raw materials into products that can accelerate the economy," he said.

"Zimbabwe is open today to agriculture, mining and energy, and we are working to create better conditions for our people, and we ask the international community to contain us again," Mnangagwa said.

Provide jobs

For his part, the Prime Minister of the Republic of Uganda, Ruhakana Ruganda, his country seeks to create more than 600 thousand jobs annually over the next 10 years, with the transformation of East Africa to what looks like «Silicon Valley» on the continent, and work hard to launch many innovations Quality in various fields.

He said during a session held yesterday at the African Global Business Forum, that Uganda is strengthening its position as a center of innovation by launching smart government initiatives, to register births and facilitate the educational process, and rely on innovative solutions to meet the challenges.

business men

The Secretary General of the International Chamber of Commerce in Paris, John Denton, praised the pioneering steps taken by the UAE in promoting investment, saying that «the most distinguishing feature of the UAE and Dubai, they form a link between many countries around the world, which opened the door wide "There is a lot of investment."

Denton added: “By learning about Dubai's experience, the emirate has provided advanced technology and facilities that have enhanced investment in it. I hope to see this model applied in many countries of the world.”

In turn, Executive Director of World Customs, Nadia Abdulla Kamali, stressed that Dubai has put in its strategy to communicate with four African regions has shown a significant development in facilitating the arrival of goods to end consumers, due to the advanced infrastructure and the provision of concrete logistical facilities, noting the need to promote trade African and with the outside world.

Investment opportunities

Mozambique's Prime Minister, Carlos Agostino de Rosario, said that his country welcomes UAE investment opportunities and is ready to provide all necessary facilities.

Majid Saif Al Ghurair, Chairman of the Dubai Chamber of Commerce and Industry, said that Mozambique is a promising destination for investment, and we are interested in building bridges of economic cooperation with it, which started three years ago, when Dubai Chamber headed a trade delegation to Maputo, the capital of Mozambique, and opened a representative office. Dubai's non-oil trade with Mozambique grew at a staggering 107% between 2015 and 2018, reaching $ 407 million (AED 1.5 billion) in 2018.

Kenyan «Twiga»

The co-founder and CEO of Twiga Foods in Kenya, Peter Ngongo, discussed the success story of his company Twiga, an online platform that brings together 5,000 retailers and connects them with farmers during a “Startup Stories, Success at Large” session.

Ngongo pointed out that "Twiga" informs farmers of the market need, and the quality of crops required, and then delivered directly to the shops without the need for a large number of intermediaries.

the black Continent

Rasim Nabil Al Zouk, CEO of Standard Bank of South Africa Limited in the Middle East and North Africa, said that the UAE is one of the leading countries of interest in Africa and that UAE traders have been present for many years in the markets of the continent, especially in Kenya, Tanzania, Uganda and Mozambique. Zouk said the bank plays a vital role in the economies of African countries, pointing out that Africa provides high returns on investment.

2500 participants

This year's edition of the Africa Global Business Forum saw a remarkable growth in the number of participants, reaching 2,500 participants from 76 countries, representing a growth of 67% compared to the previous edition, which was held in 2017. The Forum also witnessed a record number of bilateral meetings Among UAE investors and their African counterparts, I have reached 350 bilateral meetings, a growth of 75% compared to the number of investment meetings during the previous session, reflecting the importance of the Forum as a bridge to launch joint investments.

• Organizing the next session of the African World Business Forum during the Expo 2020.

Source: emara

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