Expo projects energise economic activity - GulfToday

Expo projects energise economic activity


Photo has been used for illustrative purposes.

Since being named the host of World Expo 2020, one of the most famous and advanced exhibitions of our progressive age, the United Arab Emirates (UAE) has left no stone unturned and taken innumerable steps, and some breathtakingly unique, to make the international gathering extraordinary, especially since it will be the first to be staged in the Middle East, Africa and South Asia region, MEASA, in the 168-year history of the event.

With every passing month, week and day, enthusiasm has been building up for the much-awaited mega and meaningful meeting. New export markets and projects being launched ahead of Expo 2020 are energising economic activity in the ever-active, colourful and advancing emirate of Dubai, particularly in the trading and construction sectors. It can be said, and in no uncertain terms, that the leaders of businesses in and around are confident of improved outcomes in the months ahead. They are, as is often said, cocksure about that. 

The quarterly survey of Dubai Economy shows Composite Business Confidence Index, BCI, in the emirate improving 2.2 points to reach 114.9 in the second quarter of 2019, compared to 112.7 points in the same period of 2018, with respondents anticipating higher volumes and profits.

The survey also showed that 83 per cent of the businesses in Dubai rated their situation as ‘good’ or ‘stable’ in Q2, 2018 while the others had to deal with a few obstacles, such as weak demand during the Ramadan season and increasing competition.

As pointed out by Khalid Al Kassim, Assistant Director General for Economic Affairs in Dubai Economy, businesses in the emirate are being innovative and seizing opportunities in spite of a challenging global economic landscape.

Businesses across the emirate have been able to remain competitive and aim for the next level as a series of measures adopted by the government continue to enhance and encourage the ease of business and create new economic opportunities keeping the mood in mind.

The trading sector is most confident about its prospects on sales volumes, selling prices, revenue, profits, hiring and new purchase orders as compared to the manufacturing and services sectors.

Dubai is fast building an advanced transport system through several vital and superclass projects that will serve the expected 25 million visitors of Expo 2020 Dubai.

It goes without saying that the Expo enthusiasm cuts across all segments of our cosmopolitan and throbbing society. In line with the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to support the hosting of Expo 2020, the Zayed Higher Organisation for People of Determination, ZHO, has supported the promotion of the international event through two initiatives.

The first initiative concerns persons with intellectual disabilities from the vocational rehabilitation workshops at Zayed Center for Agricultural and Vocational Rehabilitation who have built a golf cart bearing the logo of “Expo 2020” using the distinctive design adopted by the Expo Executive Office.

Second, the organisation has provided signs in several languages including Arabic, Chinese, English and German to promote this international event and invite participants and visitors from all over the world, especially those interested in participating in Expo 2020 Dubai.

Further cementing its position as a future hub for global innovation when its doors open on October 20, 2020, Expo 2020 Dubai will also host a series of 9 medical conferences and specialised events in a move to foster cutting-edge healthcare innovations and grow the UAE’s knowledge-based economy. The productive events – expected to attract hundreds of attendees from across the world – will be organised during the peak six months of Expo.

They include a Virtual Reality and Robotics Expo, alongside paediatric, orthopaedic and surgery conferences.

Like all events organised by the emirate, Expo 2020 Dubai will offer an ideal platform for all nations to share their collective visions of the future. As the theme “Connecting Minds, Creating the Future” suggests, the historic occasion will provide a great platform for encouraging creativity, innovation and collaboration. Dubai, where the world converges, shall once again prove that nothing is impossible.

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