Business & Money | Monday 16 December, 2019 12:18 pm |

The third Doing Business Technical Deep Dive has concluded its activities in Dubai, hosted over the course of four days by the Federal Competitiveness and Statistics Authority (FCSA) in coordination with the UAE Ministry of Finance.

 

The event focused on the Ease of Doing Business Report, published by the World Bank Group. It brought together more than 350 economics experts from over 45 countries in the region and the world, covering Sub-Saharan Africa, the Middle East and North Africa (MENA), and Asia.

 

FCSA Director General and head of the event’s organising committee His Excellency Abdulla Nasser Lootah delivered a closing speech, saying: “We were delighted to host the World Bank team and all participating delegations, ministers, lawmakers, and economists. The event included panel discussions and in-depth debate, where attendees exchanged expertise and best practices in the ease of doing business sector, strengthening efforts to enhance investment and business environments in participating economies.”

 

Lootah thanked partners from federal and local government entities in the UAE, as well as the private sector, for their contributions and support for the third High-Profile Doing Business Technical Deep Dive, whether by providing resources and talent, or welcoming participating delegations for field visits to showcase the UAE’s pioneering experience in the ease of doing business sector.

 

Meanwhile, the World Bank team extended its gratitude for the warm welcome participating delegations received, commending Emirati hospitality and the impeccable organisation of the event over its four days. World Bank officials underlined the importance of these meetings in providing a common platform for dialogue among participating countries – all included in the Ease of Doing Business Report – where they can exchange knowledge, best practices, and success stories in the field.

 

The sessions and workshops on the event’s agenda witnessed significant turnout from participants in the third High-Profile Doing Business Technical Deep Dive, who attended 20 workshops, prepared and delivered – in English and French – by renowned economists and experts tasked with compiling the World Bank’s Ease of Doing Business Report.

 

H.E. Lootah lauded the great turnout at the event’s activities, saying that it reflects the quality of the knowledge content it provides. “The workshops were referred to as ‘Technical Clinics’, seeing as their main objective was to remedy the challenges and obstacles facing policymakers in their plans to enhance the work environment in their countries,” he said. “The sessions are organised by World Bank experts in government policy, economics, investment, foreign trade, and mass communication.” 

 

The event discussed the opportunities and challenges facing the drafting and improvement of laws, legislation, and procedures surrounding doing business, as well as the basic stages that all economic establishments go through, from launching operations, to securing construction permits, registering property, getting credit, protecting minority investors and legal rights, paying taxes, cross-border trade, enforcing contract, and handling cases of insolvency.

 

 

The organising committee sought to ensure international delegations have an authentic Emirati experience, where groups of Emirati children, dressed in traditional clothing, welcomed them with traditional rose water sprinklers to the tone of Emirati folk music during breaks between sessions. Visitors were also treated to traditional local dishes such as Batheeth, Rangeena, and Arabic coffee, served during authentic Yola and Ayala performances. Organisers presented their visitors with souvenirs inspired by the UAE’s heritage such as wicker baskets made especially for the occasion by members of the Productive Families Programme.

 

 

Prominent Visitors Applaud ‘Well Organised’ Event

 

The third High-Profile Doing Business Technical Deep Dive received extensive praise from renowned international visitors for being well organised, as well as for the warm welcome visitors received, which reflected Emirati values of hospitality and the UAE’s professionalism in organising global knowledge events.

 

The visiting dignitaries, including several ministers, convened in bilateral meetings with the FCSA team on the side lines of the Deep Dive, held in Dubai this week.

 

H.E. Pholile Shakantu, Minister of Justice -Eswatini, stated that the third High-Profile Doing Business Technical Deep Dive is particularly important for developing and facilitating business, offering a platform for dialogue and the exchange of creative ideas to utilise the Report and its indexes to improve laws and procedures.

 

Meanwhile, Senator Manqoba Khumalo, Minister of Commerce, Industry & Trade from Eswatini, applauded the event and the advanced level of communication and interaction among participants, saying that Dubai impressed him with its opulence and generosity. 

 

For his part, HE. Oumarou Alma, Minister - Special Adviser to the President of the Niger Republic, said: “As the third High-Profile Doing Business Technical Deep Dive draws to a close, I cannot help but express my sincere gratitude to the United Arab Emirates, and to the World Bank delegation, for the warm reception and impeccable organisation. The event is a must-attend function and an unparalleled occasion for exchanging expertise, opinions, and best practices for the entities tasked with rolling out economic reforms in Africa and the Middle East.”

 

“I thank the UAE and the World Bank once again,” H.E. Oumarou added, “and a special thank you goes to H.E. Abdulla Lootah, Director General of the Federal Competitiveness and Statistics Authority, and his team for their constant support and their efforts to organise this event, which has made our stay in Dubai – the city of the future – all the more advantageous.”

 

The organising team presented visiting dignitaries with copies of ‘My Story’, the book authored by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai. 

 

The UAE ranks among the world’s top 20 economies, and came in 16th place on the annual Ease of Doing Business Report, which tracks 190 countries around the world. The Emirates led the entire Arab region on the ranking for the seventh consecutive year. Furthermore, the UAE ranked among the international top 10 on four of the Report’s 10 categories, ranking first in the world in terms of ease of connecting to the electrical grid; third in terms of ease of securing construction permits; ninth in terms of enforcing contracts; and tenth in terms of ease of registering property.