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Stay tuned with the Italian Chamber of Commerce in the UAE!

Newsletter 09/2019

THE IICUAE VICE PRESIDENT MEETS VICE MINISTRY, ON. DARIO GALLI
On Thursday, the 9th of May 2019, the Vice President of the IICUAE, Mr. Silvano Martinotti, met the Vice Ministry of the Italian Minister of the Economic Development, On. Dario Galli at the Ministry offices in Rome. During the long and rich meeting, there have been discussed several topics. Thanks to the long presence and experience of the Chamber in the UAE territory (we remind that the Chamber, this years, celebrates 20 years of activity), the Vice President was able to give updated information to On. Galli about the commercial relationships working between the two Countries. It has been discussed, in addition, the activity of the Italian companies in the UAE; it has been underlined the dynamism of the Chamber on the territory and the exceptional relationships on work with the local authorities. About this, it has been underlined the important agreement juts signed with the local body belonging to the UAE Government, Dubai Future Foundation, that was highly appreciated by the Vice Ministry for the prospective it opens to Italian companies and startups. A big space of the meeting has been dedicated to Expo 2020 and, about it, Mr. Martinotti discussed the presentation of the two projects made by the Chamber, “Country In Residence” and “Italian Start Up towards Dubai Expo 2020” that will be done in collaboration with Dubai Future Foundation and the University of Turin in favor of the Italian startups, which will be hosted in the Italian Pavilion in Expo 2020. The meeting was closed with reciprocal appreciation both for the topics that have been discussed and for the prospective that it has opened to the Italian companies in the UAE. They agreed to stay in touch about the updating of the projects, wishing to have other opportunities to meet each other.

A selection of news articles that featured in official publications in UAE and Italy related to the business, economy and culture of the two countries.

Newsletter 09/2019

DFZ COUNCIL PLANS SINGLE LICENSE FOR ALL FREE ZONES
Starting a business within Dubai’s free zones will become much more economical and easier with this fresh initiative. The members of the Council have reached a preliminary agreement whereby companies operating in a free zone can operate in other free zones in Dubai without the need for a second license. The DFZ Council aspires to position Dubai as regional driver of economic growth: with the introduction of the rule which allows 100% foreign ownership in mainland companies, free zones have to be competitive in their rents and costs and also have to find some other efficiencies.
Source: Khaleej Times

Newsletter 09/2019

NEW 6 MONTH INTERIM VISA FOR LONG-TERM RESIDENCY SEEKERS
The UAE has introduced a 6-month visa for non-UAE residents who are seeking long-term investor visa in the Country. Investors, experts and talented students who are eligible for the long term visa (ranking fro 5 to 10 years) may avail of the interim visa to identify opportunities in their field and make appropriate decisions for them and for their families. Actually the authority has activated 3 new services on its portal: a six month visa with multiple entry entrepreneurs and outstanding students to complete long term residency procedures and sic month visa with a single entry for talented individuals to complete the residency procedures.
Source: Khaleej Times

Newsletter 09/2019

DUBAI OFFICE RENTS MORE AFFORDABLE
Barring Dubai Design District, office rents fell across the Emirate in the first quarter of 2019: Dubai Science Park recorded the highest decline of 11.3%, followed by the old Dubai areas of Bur Dubai and Deira where rents dropped of 11.1% and 6.7%, receptively. Dubai design District bucked the trend as office rents jumped 13.8% in the last quarter, while DIFC offices stay the highest with approximately Dh200 per square foot annually.
Source: Khaleej Times

Newsletter 09/2019

DUBAI WELCOMES 4.75M TOURISTS
Dubai welcomed 4.75 mln international overnight visitors in the first quarter of 2019, a 2% increase in tourism volumes compared to the same period last year. Dubai Tourism said tourism sector saw optimistic indicators from its top volume generators and its emerging growth drivers. India drew the highest visitation with 564.836 visitors, followed by a strong 411.586 tourists from Saudi Arabia ad the UK which retains its third position with 326.586 travelers. Dubai Tourism’s data also showed that growth from China continued at 13% year-on-year, followed by Oman in fifth place, topping the chart as the fastest growing source Country with a 27% increase to deliver 236.182 visitors.
Source: Khaleej Times

Newsletter 09/2019

UAE’S FIRST FLOATING STATION INAUGURATED IN DUBAI
The Country’s first floating transport station is now open in Dubai festival City (DFC). The new station links the Jadaf-DFC line with public buses and Creek Metro Station. With the capacity to accommodate more than 25 passengers a t a time, DFC’s gloating marine transport station is equipped with high-tech devises that can provide real-time passengers information, timetables of marine transport services and weather conditions. It also has a smart kiosk where you can plan your journey with other marine transit modes. The construction of this station, commented Mattar Al Tayer, director general and chairman of BoD of RTA, is part of RTA master plan for improving Dubai marine transit systems, which are used by more than 14 mln riders annually.
Source: Khaleej Times

Newsletter 09/2019

EXPO 2020 DUBAI BENEFITS TO EXTEND LONG AFTER EVENT
While the Expo2020 Dubai event will prove to be a substantial contributor to the UAE’s economy during its peak activity period. Sanjive Khosla, deputy chief for sales and marketing at Expo2020, says that the Country will continue to reap the benefits of the event long after it is over. “We are working very closely with tourism authorities, not just in Dubai, but across the various Emirates to ensure that we met the targets that we have set for ourselves. Expo 2020 Dubai will raise the tourism industry in the UAE to a whole new level. In the period between May 2021 and December 2031, the Expo site is going to be redeveloped  and launched into District 2020 which is going to be a mixed-use development that will house businesses, residential units, schools, universities and an expanded Dubai Exhibition Centre.
Source: Khaleej Times

Newsletter 09/2019

SKYWAY TRAVEL TO LIFT DUBAI PROFILE
A 15km urban transit system that would transport passengers along Dubai’s skyscrapers was among the several developmental projects. The “happiness projects” aim to transform Dubai into the world’s best city. The “Skyway” projects is a suspended transit system that would link vital spots such as DIFC, Downtown and Business Bay through 21 stations. Passing through the Happiness Street and running up to City Walk, the sky pods can transport 8400 riders per hour per direction.
Source: Khaleej Times

Newsletter 09/2019

EXPO 2020 TICKETS PRICES, DETAILS
Excited to see Expo2020 spectacle next year? Take not of the tickets prices: a day pass for one adult will cost Dh120 and a three days pass – which can be used of any three days through – out the event’s 173-day run – will be priced at Dh260. Considering that there will be 60 live shows a day and performances from international artists, organizers said one visit will bot be enough to see, hear and taste all that Expo 2020 has to offer. Children aged five and younger as well as seniors aged 65 and older, may enter the site for free. Tickets will go on sale for the general public in April 2020, although visitors will be able to buy monthly and season passes directly from the Expo starting the last quarter of 2019.
Source: Khaleej Times

Newsletter 09/2019

MALLS TO EVOLVE IN AGE OF DISRUPTION
As disruption continues to impact industries across the UAE, malls have to evolve and brand themselves as destinations that have something unique for every type of shopper and visitor. At retail destinations today, Dubai’s residents are demanding experiences that deliver moments that resonate beyond the immediate satisfaction of retail therapy. Meydan One has announced its partnership with E-Karting, to launch the Region’s first indoor electric go-karting track. The track will be the first in Dubai to use karts powered entirely by electricity; each engine will boast increased toque to provide racers with a high-powered karting experience that is completely free of noise pollution and exhaust fumes, making it the most advanced and eco-friendly experience around.
Source: Khaleej Times

Newsletter 09/2019

192 COUNTRIES FOR EXPO2020
Expo 2020 Dubai confirmed that 192 countries have announced their participation in the event, making it the most exclusive and diverse Expo to b organized. For more than 170 years, World Expo have been the showcase of innovation and inspiration to all humankind. By inviting all countries of the world to take part the organizers of Expo2020 are genuinely reflecting the universal spirit of World Expos. Expo 2020 has surpassed the 180-nation commitment set out in its successful 2013 bid to host the Middle East, Africa and South Africa region’s first ever World Expo. For the first time in the 167-year history of World Expos, each anticipating country will have its own pavilion at Expo 2020, giving all nations the opportunity to showcase their achievements, innovations, aspirations and cultures to the world.
Source: Khaleej Times

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