Dubai indisputably qualifies to host World Expo 2020

February 24, 2013

Dubai_Expo_2020

Dubai, Feb 24: As a host country for more than 200 different nationalities and a vibrant hub of international commerce, trade and tourism, the UAE today is one of the most connected nations on the planet.

Dubai, the bustling nerve centre of the Arab world’s second largest economy and one of the most sought-after shopping, conference and exhibition destinations in the world — well-connected to the rest of the world by land, sea and air — indisputably deserves to be the best qualified metropolis to host World Expo 2020 which is billed as a platform for connectivity to help pioneer new partnerships for growth and sustainability for the future.

Indeed, if the UAE wins the bid, it will not only facilitate an international celebration of new ideas and help open new frontiers of global partnership, but will also ensure enduring benefits for future generations.

World Expo, the internationally renowned event held every five years, features spectacular exhibitions, pavilions and cultural events by international organizations, businesses and nations from around the world. It also provides an opportunity to raise awareness about the issues impacting the global community such as sustainable development, resource management, global economy and the quality of life.

Where else can one find a better place to stage such an event other than the UAE, where these issues are addressed with finesse and poise?

For hosting rights, Dubai is competing against Ayutthaya, Thailand; Ekaterinburg, Russia; Izmir, Turkey; and Sao Paulo, Brazil. Come November 2013, it will be either Dubai Expo 2020 or the end of a nation’s big dreams to act as a critical catalyst for a bold, better and unified world.

While the values and objectives of the World Expo remain strongly aligned with the unique characteristics of Dubai — a city that encapsulates the entrepreneurial dynamism and cosmopolitan spirit of the modern era — its unrivalled track record as one of the most preferred MICE (meetings, incentives, conferences, and exhibitions) destinations not only in the Middle East and North Africa region, but even beyond, can never be more profoundly relevant in making the choice of World Expo 2020 venue.

Given the undeniably unique advantages of the UAE, thanks to its world class infrastructure, logistics and global connectivity, Dubai — now served by more than 150 airlines, and interconnected to the rest of the cities within the region by multi-lane highways and a state-of-the-art Metro system —remains easily accessible to one third of the world’s population in a four hour-flight, and two thirds within eight hours.

With the UAE’s increasingly pivotal role in the global economy, and its strong track record of hosting high profile global events, including the Dubai Air Show, International Defence Exhibition (Idex), Gitex (Middle East’s largest consumer IT and electronics show) and more than 200 other trade shows as well as international sporting events, there can seldom be a better platform of choice for World Expo 2020.

It must be this country’s long-standing passion to bring global citizens together that drives the UAE’s keenness to bring the World Expo for the first time to the region.

Other factors strongly in favour of Dubai Expo 2020 candidacy is the unequivocal status of the UAE as the world’s third largest re-export market and its nine world class seaports, including the flagship port of Jebel Ali, ranked as the largest container terminal between Rotterdam and Singapore.

Just as Reem Al Hashimy, UAE Minister of State and Managing Director of the UAE’s Higher Committee for Hosting World Expo 2020 in Dubai, commented, the UAE’s bid is about an Expo for the world – an opportunity for nations, countries and the business community to get involved.

There is little doubt that this advantage and opportunities offered by Dubai in boosting global trade flows, will stand Dubai in good stead.

Look at some statistics. The UAE conducts international trade with more than 220 countries. It is host to around 65 foreign business councils, and receives hundreds of foreign trade missions every year.

Dubai International, the world’s fourth busiest airport in terms of international passenger traffic, currently serves more than 150 airlines flying to over 220 destinations across six continents.

At present, the collective capacity of the airport’s three terminals is 60 million passengers per annum. It will increase to 75 million passengers when the A380-dedicated Concourse 3 opens. Annual aircraft movements in Dubai are expected to increase to 560,000 by 2020 when over 98 million passengers and over four million tonnes of air freight will pass through the emirate’s airports, a special research study has shown.

Dubai International Airport recorded total passenger traffic in the first 11 months of 2012 at 52.3 million travellers, up 13.1 per cent against 2011, with passenger numbers forecast to reach 56.5 million in 2012, and 98 million by 2020.

Abu Dhabi has recorded similarly buoyant figures with 2012 another record year according to the Abu Dhabi Tourism & Culture Authority. It welcomed 2.3 million hotel guests to the emirate’s hotels and hotel apartments, representing a 13 per cent rise on 2011 figures.

As various industry reports suggest, the UAE’s hospitality market is geared up to record 67 per cent growth in revenue to $7.5 billion by 2016 - up from $4.5 billion in 2011 as visitor demand grows alongside hotel vacancies. Hotel supply is expected to increase from the current 96,992 hotel rooms in Dubai and Abu Dhabi, to a total of 125,383 hotel rooms by 2016.

Last year, the UAE drew an estimated 10 million tourists.

According to a report released by the World Travel and Tourism Council, the UAE accounts for 41 per cent of total investment in the travel and tourism sector in the Middle East.

With the UAE’s tourism map now incredibly diverse, Dubai Expo 2020 would offer an opportunity for millions of transit passengers to visit the Expo.

Together with Dubai and Abu Dhabi, Sharjah and Ras Al Khaimah are building on their own cultural foundations to present a series of unique individual products that will help position the country as a cohesive hospitality hub, with varied appeal.

As Al Hashimy argues, given the great advantages of our country thanks to its strong infrastructure, the geographical positioning between east and west, the seamless operations between our ports and airports, and our global connectivity, “we feel we really can bring people together and do justice to our theme ‘Connecting Minds, Creating the Future’.”

As the gateway to Africa, Asia and Europe, and a nexus for cross-border discussions, Dubai can offer a diverse, exciting and international profile for visitors and participants alike. The Dubai Expo 2020 will be a celebration of innovative partnerships for global progress, she says.

An important part of the Dubai bid to host Expo 2020 is recognising Expos should educate the public, and promote innovation in the service of human progress. The intention is that any Expos should not just be a benchmark for current human progress, but also propose a roadmap for the way forward.

Dubai Expo 2020 is being designed as a significant permanent addition to the facilities in Dubai, and an opportunity to build new partnerships across borders.

Should Dubai be successful in winning the bid for hosting the Expo, it would be the most high-profile and inclusive international World Expo in history with a predicted 70 per cent of the 25 million expected visitors coming from outside of the host nation.

The proposed venue for Dubai Expo 2020 is located in Dubai World Central’s exhibition district (Dubai Trade Centre-Jebel Ali) as the site would be able to fully leverage the advantages of not only the Al Maktoum International Airport but also DWC’s surrounding amenities and facilities that will be online in eight years’ time to welcome the world to this extraordinary emirate.

Ever since the Great Exhibition, held in London in 1851, World Expos remain a key meeting point for the global community to share innovations and make progress on issues of international importance such as the global economy, sustainable development and improved quality of life for the world’s population.

Every five years, World Expos attract millions of visitors who explore and discover pavilions, exhibitions and cultural events staged by hundreds of participants including nations, international organisations and businesses.

Each World Expo is a catalyst for economic, cultural and social transformation and generates important legacies for the host city and nation. Hopefully in 2020 that transportation will happen right here.

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Agencies
June 18,2020

New Delhi, Jun 18: Reliance Industries Ltd on Thursday said it has sold a 2.32 per cent stake in its digital unit to Saudi Arabia's Public Investment Fund (PIF) for Rs 11,367 crore, taking the cumulative fund raising to about Rs 1.16 lakh crore in two months.

Starting with Facebook Inc on April 22, Reliance has sold almost 25 per cent of equity in Jio Platforms - the maximum reports suggest the company intends to dilute to financial investors.

The investment by Saudi sovereign wealth fund is "at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore", the company said in a statement.

With this investment, Jio Platforms has raised Rs 115,693.95 crore from some of the leading global investment powerhouses at a time when the world is deeply impacted by the coronavirus pandemic, resulting in a recession kind of environment for the global economy.

"With the addition of PIF's investment, Jio Platforms has established partnerships with a marquee set of global financial investors, who will contribute to establishing the Digital Society vision for India," the statement said.

Jio Platforms houses India's biggest telecom firm by subscribers, Reliance Jio. With more than 388 million users, Jio has forced out several rivals and driven consolidation in the sector since entering the market in 2016 with free voice services and cut-price data.

Over the past two months, billionaire Mukesh Ambani's oil-to-telecom conglomerate has announced the sale of about $14 billion of assets, completed a Rs 53,124 crore rights issue and slowed the run rate of new investment by a quarter.

These will help Reliance meet its target of paying off Rs 1.61 lakh crore of net debt by the end of the year.
This is PIF's largest investment into the Indian economy to date.

Ambani, chairman and managing director of Reliance Industries, said, "We at Reliance have enjoyed a long and fruitful relationship with the Kingdom of Saudi Arabia for many decades. From oil economy, this relationship is now moving to strengthen India's New oil (data-driven) economy, as is evident from PIF's investment into Jio Platforms."

Yasir Al-Rumayyan, governor of PIF, commented: "We are delighted to be investing in an innovative business which is at the forefront of the transformation of the technology sector in India. We believe that the potential of the Indian digital economy is very exciting and that Jio Platforms provides us with an excellent opportunity to gain access to that growth."

"This investment will also enable us to generate significant long-term commercial returns for the benefit of Saudi Arabia's economy and our country's citizens, in line with our mandate to safeguard and grow the national wealth of the Kingdom," he said.

The transaction is subject to Indian regulatory and other customary approvals.

Morgan Stanley acted as financial advisor to Reliance Industries and AZB & Partners and Davis Polk & Wardwell acted as legal counsels.

Prior to this deal, Reliance had sold 22.38 per cent of Jio Platforms to investors including Facebook Inc, securing Rs 104,326.95 crore in eight weeks.

Facebook kicked off the party, investing Rs 43,573.62 crore for a 9.99 per cent stake on April 22. This was closely followed by a further Rs 60,753.33 crore in investment.

Silver Lake - the world's largest tech investor - bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore on May 4. It invested another Rs 4,546.80 crore for additional 0.93 per cent stake on June 5, taking its total holding to 2.08 per cent
Private equity KKR and Vista Equity Partners have taken 2.32 per cent stake each for Rs 11,367 crore apiece. KKR invested in Jio Platforms on May 22 while Vista invested on May 8.

Abu Dhabi sovereign wealth fund Mubadala Investment Co picked up 1.85 per cent in Jio Platforms for Rs 9,093.60 crore on June 5. Abu Dhabi Investment Authority on June 7 invested Rs 5,683.50 crore for a 1.16 per cent stake in Jio Platforms.

On May 17, global equity firm General Atlantic picked up 1.34 per cent stake in Jio Platforms for Rs 6,598.38 crore.

Global investment firm TPG on June 13 picked up 0.93 per cent for Rs 4,546.80 crore while L Catterton bought 0.39 per cent for Rs 1,894.50 crore.

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News Network
May 3,2020

Dubai, May 3: Over 150,000 Indians in the UAE, who wish to return home amid the coronavirus lockdown, have applied through the online registration process to the Indian missions here, according to media reports.

The Indian missions in the country last week opened online registration for the expatriates who wish to fly back home after getting stuck in the country amidst the lockdown due to the coronavirus pandemic.

As of 6 pm on Saturday, we received more than 150,000 registrations, Consul General of India in Dubai Vipul told the Gulf News on Saturday.

A quarter of them want to return to their homeland after losing their jobs, he said.

According to a report in the Khaleej Times on Sunday, about 40 per cent of the applicants who have registered are blue-collared workers and 20 per cent are working professionals.

"Roughly 20 per cent have suffered job losses and about 55 per cent of the total applicants are from Kerala," Neeraj Aggarwal, Consul, Press, Information, Culture was quoted as saying in the report.

Aggarwal said that the figures would change as they are expecting registrations from workers from other states, including Telangana, Uttar Pradesh, and Bihar.

About 10 per cent of the applicants are visit and tourist visa holders who got stranded here due to the ongoing lockdown in India.

India extended the ongoing lockdown by two weeks from May 4 to contain the spread of the coronavirus that has affected nearly 40,000 people in the country.

Aggarwal said that a small number of the applications constitute those from pregnant women and other medical cases.

Since the online registration process was launched, the Consulate's website crashed several times due to the heavy rush of applicants wishing to register to fly back home.

The site has been working fine now though it took a lot of time for it to stabilise in the initial phase due to the heavy traffic, the counsel general said.

He said that the missions here have not yet received any information from the Indian government about the mode of transport of the stranded citizens, the prices of the tickets or how the COVID-19 test results of applicants would be assessed for their journey.

There are high-level discussions going on regarding these things, he said in the report.

Meanwhile, Norka (The Non Resident Keralites Affairs) said it has received a total of 398,000 applications from Keralites across the globe who wish to return home.

"Of which, the highest numbers are from the UAE. At least 175,423 applicants have signed up from the UAE," Norka said in an official statement on Saturday.

It also received 54,305 registrations from Saudi Arabia, 2,437 from the UK, 2,255 from the US, and 1,958 from Ukraine from those who wish to return to India, the Khaleej Times reported.

The coronavirus has infected 13,599 people and claimed 119 lives in the UAE, the Ministry of Health and Prevention said on Saturday.

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News Network
June 5,2020

New Delhi, Jun 5: As part of global efforts to combat COVID-19, the UAE has provided more than 708 tonnes of medical aid, personal protection kits and supplies to 62 countries, including India, with direct beneficiaries exceeding 708,000 health workers, a UAE Embassy statement said.

The UAE is regarded as the main lifeline for the logistic operations of the international organizations' strategic warehouses in Dubai's International Humanitarian City (IHC) where the UAE is the first responder to the global crises, especially in providing assistance in relation to the current COVID-19 pandemic, it said.

Dubai's IHC has dispatched more than 132 shipments to 98 countries around the world so far since the beginning of this year, and is working as a central hub to distribute the personal protection kits, the statement said.

While the UAE continues its constant work of supporting the global efforts aimed at curbing the spread of the COVID-19 disease, it has provided more than 708 tons of medical aid, personal protection kits and supplies to 62 countries worldwide to date, with direct beneficiaries exceeding 708,000 health workers, it said.

In addition, 65 million indirect beneficiaries profited from the UAE's global efforts in combating the spread of the virus, the statement said.

Meanwhile, Etihad Airways, effective June 10, said it will link 20 cities in Europe, Asia and Australia via Abu Dhabi.

The new transfer services will make it possible for those travelling on the airline's current network of special flights to connect easily through the UAE capital onwards to key global destinations.

Etihad recently launched links from Melbourne and Sydney to London Heathrow, allowing direct transfer connections to and from the UK capital via Abu Dhabi.

Easy transfer connections via Abu Dhabi will now be available from Jakarta, Karachi, Kuala Lumpur, Manila, Melbourne, Seoul, Singapore, Sydney, and Tokyo to major cities across Europe including Amsterdam, Barcelona, Brussels, Dublin, Frankfurt, Geneva, London Heathrow, Madrid, Milan, Paris Charles de Gaulle, and Zurich, the airline said.

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