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UAE Freezones Biz News Updates
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Dubai businesses geared up for Expo 2020
Small and Medium Enterprises are ready for a successful Expo 2020 bid come
November as they look to boost their operations
Small and Medium Enterprises (SME) are prepared to get into high gear if
Dubai is successful in its bid for Expo 2020.
Navin M. Valrani, chief executive of Leminar, an SME, said that €4.5 billion
(Dh22.4 billion) earmarked for Expo 2020 infrastructure investment coupled
with private sector initiatives would be a tremendous boost for Dubai.
Leminar is a Dubai-based air conditioning firm providing services to the
construction sector.
A successful bid for Dubai — with the winner to be announced in November
2013 — is expected to attract foreign investment, companies, and human
capital to the emirate.
Valrani said he is not fazed by the idea of more companies entering Dubai
following a successful bid.
“The beauty of Dubai is that it has always been a competitive environment.
It is an entrepreneur’s dream city,” he said.
However, Valrani said there would be challenges for smaller companies
entering the market on the back of Expo 2020 because “it’s not always easy
to get start-ups up and running.”
“I think the more established SMEs will take good piece of the cake...[but]
there will be enough business for everyone,” he said.
Camilla d’Abo, Managing Partner at Dubai-based communication agency Dabo &
Co, said hosting Expo 2020 in Dubai would be a fantastic opportunity.
“We are perfectly situated to be able to help many global cities and
countries that would be coming to Expo 2020,” she said.
The emergence of new competitors in the market in the lead up to the event
would be a significant boost for Dubai and UAE, d’Abo said.
She said that competitiveness among companies in the UAE was already
increasing year-on-year.
It is not a threat, she said speaking about more companies operating in the
UAE, and it benefits the market because it increases the level of
professionalism.
“The more businesses setting up here ultimately mean more benefits for the
economy,” she said.
Hazel Cowling, Partner & Consultant Director at management consultancy SME
biz-group, agrees with D’abo. “Sophisticated training and events companies
coming into the market...raises the bar for clients and gets them...recognising
our industry,” she said.
S. Raghavan, CEO at Emitac, a healthcare SME, said that the Expo would
attract more expatriates and tourists to the UAE leading to a demand in
healthcare facilities. He said this would generate a “great opportunity” for
the healthcare sector.
The economic injection generated by Expo would be a significant boost to
SMEs who have already established themselves in the local and regional
market.
The business and growth opportunities are going to be big, Raghavan said,
this could mean that in the lead up to Expo, companies like ourself might
not come under the SME category and become one of the bigger companies in
the market, Raghavan said.
Cowling said a successful Expo 2020 bid would help put Dubai and UAE-based
companies on the map exposing them to international players.
Dubai is bidding for the event against Turkey’s Izmir, Russia’s
Yekaterinburg, and Brazil’s Sao Paulo.
Oct 6, 2013 |
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Courtesy Al Nisr Publishing LLC
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