Tag Archives: economy

H.E. Abdulla bin Touq Al Marri, Minister of Economy, held a bilateral meeting with H.E. Nicolás Grau, the Minister of Economy, Development, and Tourism of Chile, to explore new avenues to strengthen economic ties between the two countries in the fields of new economy, tourism, aviation, entrepreneurship, e-commerce, renewable energy, technology, and agriculture. H.E. Bin Touq emphasized the UAE’s robust and expanding economic relations with the Republic of Chile, highlighting that the two countries have successfully forged sustainable and diverse partnerships and agreements across various economic and investment domains. The meeting highlighted the significance of signing the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and Chile as a major step towards strengthening the existing economic cooperation in various sectors. The primary objective of the agreement is to enhance investment flows, create opportunities, expand trade, and encourage partnerships at the private sector level. Furthermore, it will streamline the access of companies from both countries to promising markets and opportunities in Asia and South America. H.E. Bin Touq said: “We consider the Republic of Chile as a valuable economic partner for the UAE in South America, as it boasts a favourable investment environment. We look forward to elevating our economic relations to new heights at both government and private sector levels, as well as exploring promising opportunities in sectors and areas of mutual interest.” The discussions focused on the significance of strengthening collaborative efforts to introduce new programs for small and medium-sized projects in both markets. The two ministers agreed on the importance of empowering the SMEs sector and facilitating the entry of their exports to foreign markets. Furthermore, they highlighted the importance of enabling Chilean entrepreneurs and startups to leverage …

At the recent celebration of International Women’s Day by TTME, CEO and Founder of Elaxiom Tourism Elmira Heshmati shared that post covid has taught the world that tourism is the way forward and the most resilient. “Today we see the results as travel bounces back and it is the largest contributor which not just helps boost the economy of every country but also provide job opportunities, benefit communities as the infrastructure is also well planned out. Tourism is the most resilient industry when you compare it to other industries. It is the most long lasting one when compared to other industries. We are also very lucky to live in a country where various destinations are also promoted and tourism contributes to the economy and boosts the communities in every country.”

In line with Dubai Economic Agenda D33’s objective of solidifying the emirate’s position as one of the top three global cities for business and travel, business tourism accelerated its role in fostering economic growth during 2022. Continuing to drive Meetings Incentives Conferences and Exhibitions (MICE) sector growth in Dubai in a post-pandemic new market, the largest operator across the wider region, Dubai World Trade Centre’s (DWTC) event calendar remained an economic catalyst for the nation – generating sustainably high returns for adjacent industries connected to the MICE ecosystem. The latest 2022 Economic Impact Assessment (EIA) Annual Report estimates DWTC’s total economic output across 63 large-scale events at AED 13Bn, of which a substantive AED 7.4Bn was retained within the local economy. These business events hosted, organised and delivered at the venue, welcomed nearly 1.2MM attendees with 40% being international – an impressive 49% YOY increase in foreign participation, emphasising Dubai’s leadership as a global mega-event hub. The study further observed that direct investments in an event at DWTC generated 7.4x in impact across the wider economy, meaning that every AED 1MM spent at these MICE events, drove circa AED 7.4MM of economic output for Dubai across other interlinked sectors. “Guided by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and the recently launched Dubai Economic Agenda D33, DWTC remains committed to furthering its contribution to the targets of doubling GDP over the next decade, particularly in consolidating its position as a top three global city,” said His Excellency Helal Saeed Almarri, in his capacity as Director General, DWTC Authority. “The MICE sector has long been an integral pillar of …