He stressed that the gains of "Expo 2020 Dubai" are moral, not just material
Al Ghurair: Corporate tax is lower from abroad and the consumer will not feel it
Dubai Chamber of Commerce opened foreign offices in Brazil, Argentina and Panama.
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Abdulaziz Al Ghurair: “We continue to study the most promising markets that provide appropriate opportunities to expand trade exchange.”
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The Chairman of the Board of Directors of Dubai Chambers, Abdulaziz Al Ghurair, confirmed that “Expo 2020 Dubai” scored a great success during its holding, revealing that many countries that do not have diplomatic representation in the country expressed their desire to open embassies in the country, which reflects the importance of presence In the Emirates, even for small countries, in terms of area and population, similar to the “Caribbean” countries.
Al Ghurair told reporters that the Expo's gains are not only material, but also moral, and that its positive impact will continue over the coming years, expressing his optimism about the prospects for the national economy, in light of the performance achieved during 2021 and early this year.
corporate tax
On the impact of corporate tax on consumers, Al Ghurair said that the corporate tax rate is low, compared to international rates, pointing out that it will be deducted from profits, and the consumer will not feel it.
He stressed that the government continues to spend to develop and provide integrated services to investors, and to develop infrastructure, stressing that the tax will not constitute a burden on sectors, because it will be directed to investment in improving the investment environment, and the system of business practice and development, which will ultimately reflect positively on companies' businesses and profits.
He said that there is a permanent review of government fees, especially with the approaching introduction of the corporate tax.
international challenges
On the mechanisms of dealing with international challenges, Al Ghurair told reporters, on the sidelines of the Latin American Business Forum, which was held last week, that international challenges will not stop, and the world will always witness new challenges, and there is no fund for ready-made solutions that suit everyone, calling for the adoption of flexibility. necessary, and develop the ability to take appropriate decisions to keep abreast of developments and face difficulties.
Latin America
Al Ghurair pointed out that the emirate's trade volume with Latin American countries increased to 39 billion dirhams during 2020, thanks to the efforts made by Dubai and the UAE, in addition to the efforts of the Dubai Chamber of Commerce, to enhance trade exchange.
He added that the number of Latin American companies registered with the Dubai Chamber of Commerce reaches 400, and it is recording a steady growth annually, while the volume of Dubai's exports to the countries of the region reached two billion dirhams during 2020, pointing out that all these data confirm that Latin American markets will play a major role. In achieving the objectives of the Dubai Foreign Trade Plan, by raising the value of its trade to two trillion dirhams during the next five years.
Al-Ghurair considered that comparing the current trade figures with their rates 10 years ago, highlighting the significant growth achieved, noting that it can grow by four times in light of the fact that Dubai and the UAE provide an ideal platform for business and trade for Latin companies wishing to expand in regional markets.
External offices
Al Ghurair pointed out that the Dubai Chamber of Commerce took the initiative during the past years to open foreign offices in Brazil, Argentina and Panama, with the aim of stimulating the growth of economic, trade and investment relations with Latin American countries, indicating that few chambers of commerce in the world support the expansion of their members internationally through foreign offices. , similar to what the Dubai Chamber is doing.
In response to a question about plans to open more offices globally, he said: "We continue to study the best and most promising markets that provide appropriate opportunities to expand trade exchange."
Traders Support
Al Ghurair stressed that the Chamber’s priorities during the coming period will focus on supporting the economic sectors and traders and enabling them to grow, while building a better business climate, improving the investment environment, and enhancing its competitiveness to enhance Dubai and the UAE’s lead in the first place, in terms of competitiveness.
He added that the food sector is at the forefront of the important sectors in Dubai's trade with Latin America, pointing out that these countries need all the services provided by Emirati companies, with the need to closely familiarize themselves with the reality and requirements of each country.
He stressed the existence of many opportunities in the countries of the region for distinguished national companies, particularly Emirates Airlines and DB World.
He explained, "We not only want Dubai and the UAE to be a center for the distribution of services, products and trade, but we also aim to grow the business of traders internationally."
Al Ghurair stressed the importance of direct flights between Dubai and many destinations in Latin America, pointing out that the emirate continues to strengthen its position as a logistics center for warehousing and re-exports of Latin goods and products to the markets of the Indian subcontinent, the Middle East and North Africa.
Integrated system for companies
The Chairman of the Board of Directors of Dubai Chambers, Abdulaziz Al Ghurair, confirmed that the participation of more than 1,700 people in the activities of the "Global Business Forum for Latin American Countries" reflects Dubai's importance to the countries of the region.
He added, "We aim to provide an integrated system for Latin companies, including the speedy completion of business licenses," noting that the confidence of international investors is a vital factor in stimulating the growth of foreign trade for Dubai and the UAE in general.
He revealed that the Dubai Chamber of Commerce is keen to provide all services and facilities to companies from all over the world, pointing out that it took the initiative to invite Latin American countries to open commercial offices at the Chamber's headquarters, and to provide all requirements free of charge for two years.
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