CAPITAL LETTER Vol. 21 | Issue 2 | Summer 2019 CAPITAL LETTER If the world is getting smaller, Chairman’s Foreword why aren’t legal challenges? Welcome to your new issue of small physical cash transactions Head over to the Events Gallery Capital Letter. It has been a busy without having to be linked to pages to see if you have been first half of the year, without much of a bank account, which will go pictured at one of our events. If not, a slowdown over the Holy Month of no small way to aiding financial make sure you attend those coming Ramadan. We should notice some inclusivity in the UAE. up for your best chance at being cooling off as the weather heats up We reflect on our recent honour snapped by our paparazzi. and summer hits, but for now let’s to be joined by HE Sheikh I wish you all a wonderful take a look at what you can find in Nahayan Mabarak Al Nahayan, summer. Happy reading! the following pages. Cabinet Minister of Tolerance, We are very much looking who generously hosted BBG forward in this issue of the and several Abu Dhabi Business magazine with articles related to Groups for a dinner, and addressed Nick Cochrane-Dyet MBE the Fourth Industrial Revolution – us on the topic ‘The Impact of Major Chairman from the UAE’s steps to becoming Recent Events on the Message of the leading hub of 3D printing the Year of Tolerance.’ Inclusivity is technology, via a joint research appropriate now more than ever in forum on artificial intelligence, to the UAE’s Year of Tolerance and we the future of warfare. It’s certainly a are glad to support the initiatives of dynamic time. the Ministry of Tolerance. Continuing our future focus, we We have our final feature on have the PwC Index focusing on the wonderful Special Olympics, diversity in the MENA region – and we send our congratulations specifically looking at the impact to team GB who take home an of women in the workplace. More incredible 169 medals (63 of them locally, there is exciting news about gold) between the 128-strong a new app that will help to replace squad. Contents BBG and Embassy Update UK Technology Companies Showcase at British Embassy Parties 15 Chairman’s Foreword 1 Great British People in Business 17 Business Briefing 2 UAE-UK Business Council Meeting 4 News, Events & Updates Notes from the BBG Office 4 First DoE Gold Award Ceremony in UAE 18 DIT Update 5 Tolerance Ministry Plans Certification for Companies 19 There is an answer. Insight BSAK Celebrates in Style 19 RTA Renews Serco contract for Dubai Metro Operation 20 We’re here to help you compete around Does the UAE Care About Brexit? 6 EIC Launches GCC Membership Category 21 UK-UAE Research Forum on Artificial Intelligence 7 UAE Employment Lifecycle 21 the world, or just around the corner. Women in Work 8 News in Brief 22 Making Prototype Warfare Effective 9 About the BBG The Law, Advanced. 3D Printing Technology – from UK to UAE 10 Maximise UK Property Tax Breaks 10 Events Gallery 25 Cash Me If You Can 11 Committee Members 28 Join the BBG 29 Get in touch Special Features Corporate Sponsors 30 Richards Davies, UAE Country Managing Partner, Dubai and Abu Dhabi Curtain Falls on Special Olympics in Abu Dhabi 12 New Members 32 [email protected] Early Days in the Emirates 14 Membership Listings 36 +971 (0)2 652 0330 Cover Picture: Image courtesy of Mohammed Bin Rashid Al Maktoum Knowledge Foundation Bryan Cave and Berwin Leighton Paisner have merged to form a new global law firm, Bryan Cave Leighton Paisner. Editorial Submissions or Advertising Enquiries: Editorial Panel: Anna Ali Adib, Steve Martin, Sinéad Whelan, [email protected], British Business Group (BBG) Abu Dhabi Robert Schwarz, David Good, David Spearing and Amy Gilbert PO Box 43635, Abu Dhabi, UAE, : +971 2 445 7234 ☎ Published by: Dar Al Fajr Printing, Publishing & Advertising, BBG Office Mobile: 056 6650582 P.O. Box 505, Abu Dhabi, UAE, ☎: +971 2 4488300 Email: [email protected] Email: [email protected] bclplaw.com Website: www.britishbusiness.org This magazine is distributed among the members of Office Manager: Sinéad Whelan British Business Group and has no commercial value. B CAPITAL LETTER Vol. 21 Issue 2 Summer 2019 Vol. 21 Issue 2 Summer 2019 CAPITAL LETTER 1 BBG AND EMBASSY UPDATE BBG AND EMBASSY UPDATE HMCG: The UAE remains a very Penney, both to develop the largest markets covered by UK significant investor in the UK and relationship with the UAE as well Export Finance with £9 billion is a key market for us across the as to multiply it out across the available, of which less than £3.5 Business Briefing region. Our total trade is worth region. billion is allocated at the moment. £17 billion a year, which flows from To achieve our objectives we That really does help promote both the governmental as well as want to work closely with and listen new business. For example, a commercial partnership we enjoy. to you – the representatives of 17,000-seater arena will open in I am a frequent visitor to the British businesses – and we also Dubai soon, which was supported At his last Business Briefing for BBG members, HM Ambassador to UAE Patrick Moody Expo 2020 site and am impressed need to exploit our partnership with by US$220 million of UK Export was joined by HM Consul General to Dubai and the Northern Emirates Andrew Jackson. with the progress being made, BCB (British Centres for Business) Finance and more than 100 supply The following summarises their remarks. and our involvement in it. Our as well as do more around the big chain contracts from the UK are own pavilion’s strapline is trade fairs here. We are always involved. ‘Innovation for a Shared Future’. adding content and online services Even with some businesses Grimshaw designed the event’s to the DIT website, to help you reporting uncertainty with the Sustainability Pavilion, Foster & make connections in the market, situation in the UK, as I have Partners designed its Mobility engage with events, offer tips for said inward investment overall Pavilion and, with a large number e-commerce and to encourage you is strong. The UAE has been a of other contracts already won, to get in touch with us directly. very significant investor in UK our contribution is evident for all to We try to prioritize where we infrastructure, our ports, off- see. engage. Over the last year we shore wind powered energy and We have established priority worked on accrediting the food regeneration – including portfolios sectors here in oil and gas, and drinks sector, helping the Halal of investment, for example in construction and manufacturing, Food Authority to be recognised in Manchester. Last year Mubadala but as part of our export strategy the UAE. We have also looked at created a new US$400 million tech we want to develop in new ones specific labeling issues and other fund for Europe, which it based in such as education and skills, challenges that affect the food and London. Mubadala also invested artificial intelligence, cyber drinks sector. Additionally we are £30 million in hyper-optics in the security, life sciences, creative working to tackle challenges in the UK, and the Lulu supermarket sectors and clean/renewable recognition of qualifications, and chain invested more in their energy. on specific areas of intellectual warehouses and distribution out Our approach is driven and property. In all areas we are also of the UK. This shows continuing supported by our new regional promoting UK standards. confidence in the UK both as an Trade Commissioner Simon The UAE is still one of the economy and as a trade partner. HMA: I have now been here for The UAE’s foreign policy is international reasons including US/ eight months and have had a dominated by four main concerns: China trade, US sanctions on Iran, chance to see firsthand some of the threat from Iran; the existential and even the time it takes for the the great products and services importance of a successful Saudi UAE’s transformation initiatives to you are all offering in the market. It transformation; the projection take effect. makes my job to ‘sell Britain’ much of their vision for a socially and On Brexit, businesses and easier when I see all of you doing economically liberal but politically the financial sector have, for it. It’s true to say it hasn’t been stable region; and ensuring the most part, priced it in and the easiest six months, politically political, security and economic planned for it. We need to keep and economically, but the alliances at a time of change it in proportion. The UK economy important thing is underneath it the globally. is strong and it will not make a fundamentals remain very strong As for the UAE economy, earlier significant difference to our trading and the UK offers great value. projections of 3.8% growth for this relationship with the UAE. When I spoke to you last I had year have now been tempered to There is a lot of work being done three key messages: be confident estimates ranging from 2.7% to to ensure that EU agreements will in the value of our offer; engage 3.5%. Efforts to drive down costs, roll over and there will be continuity with and be part of the UAE‘s to improve doing business and on trade policy. While a new trade transformation agenda; and to to diversify the economy, as well deal with the UAE and GCC would look for opportunities to grow our as more stable oil prices, have be welcome, it is a very open business out from the UAE to the all helped.