EMBASSY OF THE UAE BERLIN ECONOMIC BULLETIN

Nr. 24 | December 2019 Content

P. 3 ’s Mubadala Fund

P. 5 Embassie’s Activities

P. 6 News

Building Arab Strategy Forum Mubadala A second great recession highly unlikely, says new global economic report produced by Arab Strategy Forum, Good Judgement Inc. From a tragic childhood - his father was assassinated when he was 8 years old - Al Mubarak, The global economy is not likely to wit- ture leading up to 2030 – a crucial time who turns 44 in January, has ness another Great Recession-style col- for many Middle Eastern economies risen to become one of the lapse, despite several indicators to the whose visions are set to come to fruition ruling ’s most contrary in recent months, according by that year. trusted advisers. He’s also chief to a newly-published report by the Arab executive officer of Mubadala Strategy Forum in partnership with ‘11 Questions for the Next Decade’ anal- Investment, a $229 billion state- Good Judgement Inc., the world’s lead- yses 11 major political and macro-eco- owned holding company. His ing geopolitical and economic forecast- nomic situations – or ‘mega-trends’ as broad remit - it even includes the ing institution. the report terms them – and their likely chairmanship of Manchester City consequences to determine where the Football Club - is particularly Titled ‘11 Questions for the Next Dec- world is headed, come 2030. Topics important now as Abu Dhabi ade’, the wide-ranging and far-reach- covered range from the global recession seeks to reduce its dependence ing findings and themes of the report, to the fragmentation of superpowers on oil and Mubadala works to have been discussed in depth by former and Brexit to the Iranian regime and diversify its investments. ministers, decision-makers and politi- America’s anticipated fall from domi- page 3 co-economic thought leaders, including nance, to the emerging US-China tech former US Vice President Dick Cheney, war and the prospective “Splinternet”, at the 12th edition of the annual Arab water scarcity in the region and the Strategy Forum in on December growing crop of gas fields in the East 9 at the Ritz Carlton, DIFC. Mediterranean region.

The ‘state of the world’ style report– Qualitative and quantitative feedback tackles 11 vital mega-trends and ques- and data was garnered for the report’s 11 tions that will define the global social, sections following rounds of discussions political and economic landscape in the on Good Judgement’s platform, with a 10 years ahead. Unlike previous editions, series of ‘ignition questions’ posed to this year’s report looks to predict the fu- “Superforecasters”: 150 experts from Energy

diverse backgrounds ranging from po- ings from the ‘11 Questions for the Next After the fall of empires in the 20th cen- litical scientists, economics researchers, Decade’ report. tury, the question lingers over whether scholars, subject-matter experts with countries and blocs will fragment in the professions ranging from finance to in- Based on current global economic per- 21st century. The Superforecasters an- telligence, management and medicine. formance records and data from the last ticipate a 5 percent likelihood that the The ignition questions for each topic 100 years of economic cycles, the report EU will lose 0.5 percent or more of its seek answers to the issues at the heart sought to find out whether the next re- territory or population before 2030, a 2 of major economic change in the years cession will be a repeat of the Global Fi- percent likelihood that Russia or China ahead. nancial Crisis / Great Recession (2007- will, and 1% likelihood that the United 2009) or whether we are likely to see a States will. Though the uncertainties The Superforecasters’ answers serve as return to an earlier pattern of a brief and problems hanging over the United indicators and monitors of predicted economic downturn followed by resur- Kingdom are mainly considered ‘peace- change based on the outlined global me- gent and steady growth. ful’, market volatility and decreased con- ga-trends. sumer confidence could have an impact The report’s Superforecasters said there on the EU’s territory and population in Mohammad bin Abdullah Al Gergawi, is a 76 percent chance that the world will the next decade. The Superforecasters Minister of Cabinet Affairs and The not undergo another Global financial also said that a split or fragmentation in Future, and President of the Arab Stra- crisis similar to the Great Recession of China or Russia, will only occur through tegic Forum, said: “The report provides 2007 in the next decade, citing central a violent disruption. answers to the most pressing questions banks’ improved technological ability today, the consequences of which will to adapt and steer skidding economies Despite being the largest economy in the have a great impact posed on regional out of difficulty. In their analysis of the world since the beginning of the 20th and global policies. It explores a range last 100 years’ of business cycles, the Su- century, the US’s position as the world’s of scenarios that will support the deci- perforecasters concluded that the Great number one is under threat from the sion-makers of today and tomorrow to Recession was an outlier rather than the formation of a multipolar system and guide progress and prosperity for gener- expected norm. the emergence of several countries and ations to come. regions that contribute today to the in- Considering the emerging tendency of ternational community. “Unlike previous years, this year’s re- two, or a group of countries, setting out ports predict the future of the region to establish new regional trading sys- The report claims that there is a 65 per- and the world over the next decade in tems, such as the US-backed Trans-Pa- cent chance that the US will still be the the context of the current events that cific Partnership or the Russian-backed world’s largest economy a decade from will have a major impact. They provide European-Asian Economic Union, the now, and a 33 percent likelihood it will an up-to-date analysis of the increasing report noted that such new trading enti- be second, after China. need for decision-makers to understand ties pose a populist threat to long-estab- future scenarios on which to base their lished global trading systems. The most prominent countries compet- p l an s .” ing with the United States, in terms of It goes on to rule out the possibility of nominal GDP, the report adds, are Chi- As the world’s first platform for forecast- China, Russia or one of the G7 countries na, the European Union bloc, and India. ing geopolitical and economic events, withdrawing from the World Trade Or- And, as the US economy shrinks to the both regionally and globally, and tar- ganisation by 2030, as doing so would size of other countries, it will be less able geting the most influential leaders and cost more than the gains are likely to be to influence other nations of the world. decision-makers in the Arab World worth in the long run. and beyond, the Arab Strategy Forum The Organisation of Petroleum Export- provided invaluable insights from the However, considering the relentless ing Countries, OPEC, currently holds a world’s foremost thought leaders on the pressure on the WTO in the face of pop- share of about 40 percent of the world’s crucial topics addressed in the report ulism, the post-World War II trading crude oil production. But the future of and beyond. There is a list below of the body faces a big challenge in maintain- the organisation and its domination is mega-trends, their related ignition ques- ing its status and platform in the next 10 likely to be called into question, with the tions, and a brief summary of the find- years. emergence of ‘hydraulic fracturing’ and

2 Energy Finance

new oil discoveries outside the Middle gion or pose a security risk. The report said is a small, 1 percent chance of a conflict East and North Africa. there’s a risk that offshore gas fields could on the flow of water between Jordan and inflame tensions between nations over dis- Israel, according to the Superforecasters. There is a 90 percent chance that OPEC puted drilling rights, but potential energy Meanwhile, the chance of a conflict be- will supply more than a third of the revenues are worthwhile, and will lead to tween and Ethiopia or Turkey and world’s crude oil supply in 2030. Howev- a strengthening of the region’s economic Iraq during the next decade will reach er, its fiscal revenue is likely to result in stability, internal stability of the concerned 3%. a decline in its production. Given its re- countries and reduce risk of war. silience and adaptation to multiple chal- The Superforecasters, “overwhelmingly lenges in past decades, including wars, Following signs of regime fatigue in Iran, agree that Israel will remain a nuclear revolutions and global recessions, the coupled with the unrelenting pressure of power, that Iran and Saudi Arabia are organisation is viable in a carbon-free strict US economic sanctions since its the two states most likely to make at- world, but new and innovative adapta- formation in 1979, there has been specu- tempts to join the club. tion measures are needed later, the re- lation that the intensity of the sanctions port pointed out. could lead to a collapse of the Iranian The report warns as a caution that any regime. However, the report stated that MENA country that pursues the nuclear The Superforecasters see a 66 percent “sanctions are more likely to lead to be- route may risk provoking unrest in the likelihood of a cyberattack shutting haviour change than regime change”, and region. Israel has repeatedly said it will down a major infrastructure system in could see Iran come to the negotiating attack Iranian facilities if it believes the a G7 country for at least one day before table with a different approach. Howev- regime in Tehran is about to cross the 2030. Outside of the G7, there are coun- er, Iran has overcome many challenges nuclear weapon threshold. tries perhaps more vulnerable. “It will be in the midst of regional and internation- worth monitoring these situations as har- al tensions, and its ability to move for- The Superforecasters offer an 80 percent bingers of larger-scale attacks elsewhere. ward productively should never be un- chance that a ‘splinternet’ - one Internet For instance, in the Philippines, govern- derestimated. And, although the status led by the United States and one led by ment hearings recently raised concerns quo is expected to remain well through China will not be in place by 2030. “In- that China could remotely ‘turn off pow- to 2030, lessons from the past few years formation will continue to flow across er’ in the country,” the report noted. in the region are ever-present in the zeit- global networks, even as other types of geist, and should provide a warning that political or ideological information will After the discovery of the East Mediter- no leadership is impervious to change. be blocked,” the report pointed out. ranean gas fields off the coast of Cyprus, Lebanon and Egypt, questions have arisen Water scarcity is unlikely to drive any re- https://wam.ae/en/de- over whether the East Mediterranean gas gional conflict in the MENA region over tails/1395302808585 fields will enhance the stability of the re- the next decade, the report stated. There

Khaldoon Al Mubarak: Building Abu Dhabi’s $229bn fund for post-oil era

For an Emirati who’s not a member of Abu Dhabi’s ruling royal family, Khal- doon Al Mubarak is remarkably influen- tial. Photos of him with Barack Obama and Donald Trump decorate his desk. Around the time of our interview with him in October, he’d hosted Russian President Vladimir Putin and caught up with former US Secretary of State John Kerry and retired US Army General Da- vid Petraeus. From a tragic childhood - his father was assassinated when he was 8 years old - Al Mubarak, who turns 44 in January, has risen to become one of the ruling Al Nahyan family’s most trusted advisers. He’s also chief execu- tive officer of Mubadala Investment, a $229 billion state-owned holding com- pany. His broad remit - it even includes the chairmanship of Manchester City

3 Oil & Gas

Football Club - is particularly important electric-scooter-sharing company, and a mature assets and exploring new sectors. now as Abu Dhabi seeks to reduce its de- Canadian data centre. Al Mubarak has Technology is a “priority area where I pendence on oil and Mubadala works to sought to put a new gloss on the emir- personally spend a lot of time,” he says. diversify its investments. ate’s sometimes tangled financial af- fairs. Mubadala was formed in 2017 by In 2017, Mubadala committed $15 bil- Transition the merger of its predecessor, Mubadala lion to SoftBank Group Corp.’s $100 bil- Development Co, and International Pe- lion Vision Fund. Al Mubarak says he’s Al Mubarak, wearing a traditional white troleum Investment Co. That year, Al monitoring the fund’s performance be- ankle-length kandura, says his challenge Mubarak, who had been CEO of the pre- fore deciding whether to sign up for the is to navigate the transition. “A divorce decessor company since 2002, took over second round. “Tech is inherently risky,” from oil and gas is not going to happen,” the new holding company. he says. In November the Vision Fund he says. “This is always reported a loss of about going to be a core part $9 billion on its stake in of our economy. How do We Co. and other tech you get the best out of companies. In an emir- that with a view to the ate as rigidly hierarchi- future, while at the same cal as Abu Dhabi, Al time building the rest? Mubarak’s ascent was far My focus is on building from preordained. His the rest.” father, a UAE diplomat, was living in Paris as am- Power in Abu Dhabi, bassador to France when the wealthiest of seven he was killed by Pales- sheikdoms that make up tinian militants in 1984. the United Arab Emir- Al Mubarak was raised ates, flows from Sheikh by his grandfather, the Mohammed bin Zayed UAE’s first chief justice, Al Nahyan, the UAE’s de and became close to the facto ruler and chairman royal family. of Mubadala. Al Mubar- ak, says Christopher After graduating from Davidson, associate fel- Tufts University in Mas- low of the Royal Unit- sachusetts in 1997, he ed Services Institute in started out as a sales London, “represents the executive for Abu Dha- new generation of savvy bi National Oil Co. and urbane technocrats the eventually landed at crown prince has sought Mubadala Development to surround himself as its first CEO. There, with.” Abu Dhabi, with and later at Mubadala In- a population of about vestment, he’s overseen 2.9 million, is home a series of high-profile to roughly 6% of the investments in compa- world’s oil reserves. As it nies such as EMI Music adjusts to a less petro-centric future, the In doing so, he inherited IPIC’s trou- Publishing, General Electric, and Carlyle emirate’s financial industry has begun bles. IPIC had gotten caught up in a se- Group. Al Mubarak has had his share a wave of consolidation that’s seen the ries of investigations over whether and of narrow escapes. In 2012, Mubadala megamerger of two of its largest banks how money flowed from the Malaysian Development invested $2 billion in the and three of its four investment funds. government’s scandal-ridden 1MDB business empire run by the Brazilian se- development company through fraudu- rial entrepreneur Eike Batista, who at Al Mubarak has been central to these lent shell companies to corrupt officials. the time was one of the world’s richest efforts as chairman of the Abu Dha- Today, across the way from Mubadala’s people. When Batista’s edifice collapsed bi Executive Affairs Authority, which fairly modest headquarters, IPIC’s flashy later that year, Mubadala was one of the advises the crown prince, known col- office tower looms as a reminder of pet- few investors to come out relatively un- loquially as MBZ, on strategic issues. rodollar-fuelled excesses before prices scathed. (The fund sold its stake in the Mubadala is part of the evolution. The nose-dived in 2014. Mubadala Invest- company that owns Burger King, a hold- fund, started as a means of diversifying ment reported total comprehensive in- ing acquired through the Batista deal, for the economy by attracting expertise and come of 12.5 billion dirhams ($3.4 bil- a substantial profit this summer.) jobs to the emirate, is now a global pow- lion) for 2018, a 21% increase from the erhouse. This year alone, it’s invested previous year. Under Al Mubarak, the “That was a challenge,” Al Mubarak in Greek fish farming, Europe’s biggest fund has been selling some of its more says. “If it wasn’t for the well-structured

4 Embassie’s Activities

deal that we did, the outcome would Vader bust in a traditional Arab head- This gives me a perspective that’s very have been very difficult -substantially dress. helpful to me as I run the organisation.” negative.” As the photos and assorted memorabilia in his offices suggest, Al These items - along with two big paint- In the end, the most telling photo of all Mubarak’s interests extend well beyond ings, one French, one Korean - point to is probably the one of Al Mubarak with the financial world. There’s a framed, a man with deep connections inside and MBZ, given that the source of Al Mubar- sky-blue soccer jersey: a nod to Man outside the Gulf. Last year, Al Mubarak ak’s power is closer to home. “I’ve been City, which, thanks to massive cash in- became a special envoy to China, a new lucky to work with very incredible peo- fusions from Abu Dhabi, has become post signalling growing ties between Bei- ple throughout my professional career, one of the world’s most successful foot- jing and the Gulf in oil and gas, banking, incredible leaders,” he says. “This starts ball teams. There’s a scale model of a and logistics. All of this reinforces his with His Highness.” : Mubadala once had a stake in day job at Mubadala, Al Mubarak says: the automaker, and Al Mubarak nego- “I’m hearing from US private equity. I’m www.arabianbusiness.com/banking-fi- tiated the deal that brought the Grand hearing from European public compa- nance/435091-khaldoon-al-mubarak- Prix race to Abu Dhabi. nies. I’m dealing with Chinese compa- building-abu-dhabis-229bn-fund-for- And there’s a touch of humour: a Darth nies. I’m listening to Russian companies. post-oil-era

UAE Embassy hosts potential investors from the Senate of Economy

On December 5th 2019, the Embassy by Mr. Khalfan Al Matrooshi, Head of given showing how foreign investors of the United Arab Emirates in Berlin the Economic & Trade relations at the have an optimal environment to invest in conjunction with Etihad Airways UAE Embassy, Dr. Christoph Brüssel in the UAE. Most notably, the new For- and the Senate of Economy hosted and CEO of Senate of Economy and by eign Direct Investment Law has been an evening for roughly 40 Senators of Mr. Gianni Tronza, Regional Director presented to the potential investors. the Senate of Economy. The Embassy of Etihad Airways [DACH]. A pres- The new Law allows foreign investors showcased the United Arab Emirates entation about the investment oppor- to own up to 100% in UAE incorporat- as the ultimate investment destination. tunities as well as the legal and com- ed companies outside the designated The evening started by welcome notes mercial framework in the UAE was free zones.

5 News

Positive regulations such as the Cen- tral Bank removing the 3 percent early settlement fee for mortgages, relax- ing the maximum age requirement to repay mortgages and lifting the 20 percent cap on real estate lending for banks have also inspired confidence in the property market, the research said.

“It is a combination of all of the above as to why sales transactions have in- creased this year and consumer con- fidence is building up in the market. This, coupled with declining prices and an excess amount of supply, has given the buyer much choice, attractive prices and incentives,” said Lynnette Abad, director of Data and Research, Property Finder. Business Bay has emerged as the top pick for buyers, with an overall 1,160 property trans- actions recorded in the three months of September, October and November. Other communities which registered the highest number of overall proper- ty transactions in this timeframe were Dubai Creek Harbour (1,057), Dubai South (838), Jumeirah, with projects REAL ESTATE 5,051 property sales were recorded with such as La Mer (647), and Downtown the Dubai Land Department (DLD) Burj Khalifa (560). in November, hitting a 11-year high Dubai property deals hit new 11- on a monthly basis. This eclipsed the Off-plan properties continued to dom- year high in November 4,774 overall property sales registered inate transactions with Dubai Creek in October and the 4,007 real estate Harbour seeing the most transactions Dubai property sales transactions transactions recorded in September. (1,030) in the three-month timeframe, have scaled record highs since the Cumulatively, this amounted to 13,832 followed by Business Bay (863), Dubai government announced forming a transactions in the three-month time- South (696), Jumeirah (586) and Vil- committee to ensure that semi-gov- frame. lanova (508). November also recorded ernment real estate companies do not brisk activity for off-plan sales, clock- compete with private investors, new It added that the DLD also registered ing in 3,053 such transactions, the research showed on Tuesday. The the sale of Burma Island, part of the second highest since September 2015, committee, which will be chaired by World Islands, for AED112.77 million which registered 3,258 such deals, Sheikh Maktoum bin Mohammed bin on December 8. According to the data, added Data Finder. Rashid Al Maktoum, Deputy Ruler of it appears that the announcement of Dubai, aims to develop a comprehen- the committee has had a positive im- In the secondary market, Internation- sive strategic plan and vision for all pact on market sentiment in the three al City topped in terms of the number major real estate projects in the emir- months since September. This comes of transactions (443), followed by Du- ate for the next 10 years. on the back of several stimuli such as bai Marina (359), Business Bay (297), extended visas, streamlined processes Jumeirah Village Circle (282) and According to Data Finder, the real and fee relaxations announced by the Bluewaters Island (262). estate insights and data platform government to boost investment in the under the Property Finder Group, property market this year. www.arabianbusiness.com/

INDUSTRIALIZATION Steel Conference 2019 in Dubai. The con- role and importance of the iron and steel ference, which has taken place until 11th sector in urban and economic develop- December, brings together professionals ment. Addressing the conference, Dr. Al Heavy industry a vital component from the Middle East metals industry to- Neyadi said, “Heavy industry, including in UAE’s economic diversification gether from the GCC to discuss current the steel sector, is a vital component and agenda: Al Neyadi trends, challenges and opportunities with- contributor to the UAE’s economic di- in the regional and global steel markets. versification agenda and to our nation’s Dr. Matar Al Neyadi, Under-Secretary of transition to a knowledge-based economy. the UAE Ministry of Energy and Industry, Dr. Al Neyadi also delivered the keynote The sector has matured since its founda- has inaugurated the Middle East Iron and speech during which he spoke about the tion decades ago, and today, the Ministry

6 News News

of Energy and Industry is working closely procedures as well as cost and time of drive up its position further, Ms Ha- with the steel sector to harness the poten- doing business to further boost oper- cibeyoglu said the information is still tial of 4IR and stimulate downstream in- ating conditions for the private sector, under process but that the country gen- dustries.” Abdulla Lootah, general director of erally performs well in categories such Federal Competitiveness and Statistics as construction permits and connecting “There is no doubt that coordinated ac- Authority (FCSA) said at a press con- electricity. For the first time in May, the tions are needed to address the current ference on Sunday. “There are so many UAE was ranked among the top five market challenges; however, looking things that need to be done,” said Mr competitive economies out of 63 coun- further ahead, regional investments in Lootah. “We need to maintain that fire tries ranked by the IMD World Com- hospitality, healthcare, education and in- and not rest.” petitiveness Rankings. frastructure are likely to continue on an ever-growing scale. From Expo 2020 to The Arab world’s second biggest econ- The UAE also maintained its top spot numerous other mega-projects within the omy is already implementing an array for the fourth year as the most competi- region, opportunities exist for companies of reforms aimed at improving the ease tive economy in Mena, according to the able to offer unique products, services and of doing business, attracting foreign in- . Globally, the solutions that enhance sustainability and vestors, creating jobs and diversifying country jumped two places to rank 25th incorporate 4IR technologies and innova- its economy away from oil. The UAE out of 140 countries in the 2019 Global tions,” Dr. Al Neyadi added. has allowed a 100 per cent foreign own- Competitiveness Report published an- ership of companies in 13 sectors from nually by the organisation. On Decem- Saeed Ghumran Al Remeithi, CEO of manufacturing to renewable energy. It ber 10 to 13, Dubai hosted the World Emirates Steel, said, “In the Middle East, also eased visa restrictions, provided Bank’s third Doing Business Technical we are witnessing a varied and unfolding incentives for small and medium enter- Deep Dive, a global meeting of experts situation. The GCC construction sector prises and introduced a new insolven- to discuss reforms suggested by the continues to offer strong opportunities cy law to help UAE residents clear bad Washington-based lender in its Doing for growth for the steel sector, with Expo debts. In the 16th place, the UAE has an Business report. The idea is to share 2020 in the UAE; Al Qiddiya, the Red Sea ease of doing business score of 80.9 out knowledge, inspiration, good practis- Project, and the NEOM project in Saudi of 100 and is the strongest performer es, lessons and challenges among peers, Arabia; and the King Hamad Causeway overall in the Middle East and North while highlighting the methodology of Project in Bahrain, all producing rich op- Africa region, according to the World the report, said Ms Hacibeyoglu. portunities for growth in the metals sec- Bank’s Doing Business 2020 report re- tor. However, as other major infrastruc- leased in October. www.thenational.ae ture projects are coming to completion, demand is expected to drop.” The top five countries to do business globally are New Zealand in first place “The steel sector is typically understood as with a score of 86.8, followed by Singa- DIGITALIZATION a bell-weather industry for understanding pore, Hong Kong, Denmark and South the operation of wider macro-economies, Korea. “If New Zealand can do it, we and in the context of apprehension of a can do it,” Mr Lootah said. Dubai brings in new paperless visa global economic recession, it is interesting residency applications to meet with colleagues from the metals The government official said the target sector to discuss how they are finding busi- to jump to the top spot, which was set Dubai residents can now apply for vi- ness. I look forward to discussing with del- in 2010, is achievable within the time sas without having to queue up at a egates their current attitudes on the global frame and that all stakeholders involved government service centre. A new fea- steel sector,” Al Remeithi concluded. are intensifying efforts to meet that ture on the Dubai Now app or website goal. There is competition with many allows for residency visa applications www.wam.ae other countries vying for the No 1 spot, to be submitted online, taking 30 min- Cemile Hacibeyoglu, senior private sec- utes to two working days for approval. tor specialist at the World Bank Group, Under the first phase, people and or- said during the conference, noting that ganisations can check whether their INVESTMENT FRAMEWORK the UAE is the highest ranked economy residency application is valid, as well in the region. as renew their residencies or those of their spouse, children, and parents. Un- UAE aims to top World Bank’s ease The Doing Business report, which be- til now, residents faced the prospect of of doing business list in 2021 gan in 2003, covers regulations affect- travelling to Amer service centres dot- ing 10 areas of the business life cycle ted around the city. In a bid to boost competitiveness, the which are, starting a business, dealing UAE is working on a series of reforms with construction permits, connecting More than 350 people have used the to meet its target of topping the World electricity, registering property, secur- Dubai Now application to issue or re- Bank’s annual ease of doing business ing credit, protecting minority inves- new residency visas since the launch ranking in 2021, moving up from the tors, paying taxes, trading across bor- of the service last month. Dr Aisha 16th position it currently holds. ders, enforcing contracts and resolving Bint Butti Bin Bishr, director general of insolvency. Smart Dubai, said the move is part of New Zealand is currently the easiest a paperless strategy by the Dubai gov- place to do business. The government is When asked about the World Bank’s ernment, which aims to save more than taking measures to improve legislation, recommendations to the UAE to help one billion pages of paper every year.

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“Developing the bundle of government ing push notifications to alert users “Whether it’s delivering a 21 metre services offered through the Dubai when residency renewal dates are ap- entry way or a small package for an Now app is in line with the Dubai Pa- proaching. international visitor at the Expo 2020 perless Strategy 2021, through which site, our world-class logistics are Dubai government is looking to digitise www.thenational.ae made possible by a dedicated team all internal and external government that will grow to up to 600 for this transactions,” she said. It will also make EXPO 2020 global undertaking.” people’s lives easier, saving them time and effort, she added. The 21x30 metre, carbon-fibre struc- UPS delivers Expo 2020 Dubai’s tures were placed at the three main en- “It is a notable new addition to the bun- largest shipment trances to the site, roughly a year be- dle of services we offer through the app, fore Expo 2020 opens on 20th October where our objective has always been UPS announced today the completion 2020. The entryways will transform to positively affect people’s lives in the of a series of multi-modal deliveries the skyline of the Expo 2020 site and emirate,” said Dr Bishr. The service is for Expo 2020 Dubai’s entry portals in symbolize the futuristic spirit of the operated in partnership with the immi- the run-up to next year’s official open- international exposition. Sanjive Kho- gration agency, the General Directorate ing. UPS, the official logistics partner sla, Expo 2020 Dubai’s Chief Commer- of Residency and Foreigners Affairs. of Expo 2020 Dubai, choreographed cial Officer, said, “Transporting the Services available on the app include multiple shipments from Germany iconic entry portals to our fast-devel- issuance, renewal, amendment, and through Belgium’s Port of Antwerp oping site in Dubai was a major organ- cancellation of residencies, in addition and into Dubai’s major commercial izational and logistical challenge but to amendment of status and transfer of port in Jebel Ali. as ever our Official Logistics Partner, sponsorship. “All these services are now UPS, delivered without a hitch. We will available on the Dubai Now applica- “These extraordinary entry portals be continuing to rely on their expertise tion,” said Maj Mohammed Ahmed Al will welcome 25 million visits -- and unmatched network all the way to Marri, head of the authority. equal to the population of Australia 20 October 2020 when those portals -- and, likewise the logistics required will welcome millions of visitors to the It guides users through the steps they for these shipments, is nothing short World’s Greatest Show.” need to complete, such as medical tests of monumental,” said Nando Cesar- and Emirates IDs, in addition to send- one, President of UPS International. www.wam.ae/en

Imprint

Publisher Ambassador Editor Embassy of the Ghorfa Arab-German Chamber H.E. Ali Abdullah Al Ahmed Khalfan Al Matrooshi United Arab Emirates of Commerce and Industry e.V. Ahmed Shalaby Hiroshimastr. 18-20 Garnisonkirchplatz 1 Secretary General D-10785 Berlin D-10178 Berlin Abdulaziz Al-Mikhlafi

Telefon: + 49 (0)3051651451 Telefon: + 49 (0)30278907-0 Layout: www.uae-embassy.ae www.ghorfa.de @uaeembassyger Fadhl Al-Romaima Marcus Schoft @uae_berlin @Ghorfa_Germany

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