Abu Dhabi — The Business Year is pleased to announce the launch of its first ever comprehensive edition on the UAE economy, produced in partnership with the Ministry of Economy to mark the Year of Zayed, a series of events over 2018 marking the 100th anniversary of the birth of the country’s founding father.

At the forefront of its research, the publication will pay special tribute to Late Sheikh Zayed bin Sultan Al Nahyan, seeking to portray the impressive economic growth the UAE has undergone as a result of his vision.

Despite being most well-known for its abundance of hydrocarbons both on and offshore, the UAE has grown to become one of the leading countries in terms of ease of doing business and cross-sectorial opportunities, investing in both local and foreign human resources and diversifying its capital allocation to mitigate reliance on oil and gas. Leading the world in the shift toward sustainability and technological advancement, in 1Q2018 the UAE embraced nuclear energy with the opening of the Barakah Power Plant and launched its Yah 3 Satellite, the latest update of the UAE National Space Program, the only one of its kind in the Arab world.

Featuring over 100 interviews, The Business Year: United Arab Emirates 2018 will be opened by a foreword from Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE and Ruler of Abu Dhabi; followed by a foreword of Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai; Sheikh Dr. Sultan bin Muhammad Al Qasimi, Member of the Federal Supreme Council and Ruler of Sharjah; Sheikh Saud bin Saqr Al Qasimi, Member of the Federal Supreme Council and Ruler of Ras Al Khaimah; Sheikh Mohammed bin Saud bin Saqr Al Qasimi, Crown Prince of Ras Al Khaimah; Sheikh Mohammed bin Hamad al Sharqi, Crown Prince of Fujairah; Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Executive Council; Sheikh Rashid bin Saud bin Rashid Al Mua’lla, Crown Prince of Umm Al Quwain. Readers can then explore the wealth of economic opportunities included in specific sections for each of the Emirates.

With oil prices recovering and the government seeking to increase the role of the private sector in driving the country’s growth, the publication will look at the broader impact of Vision 2021 as the major framework for the short-term success of the UAE’s economic rise. Financial and political stability once again prove to be the major competitive advantages for the business community operating in the country, with each of the seven Emirates seeking to brand itself in a unique way leveraging on the strategic geographical location and favorable regulatory environment.

According to TBY Analytics UAE 2018, our unique methodology for parsing C-level opinion into crunchable data, the impacts of this robust economic program, not to mention the preparation for Expo 2020, are already being felt. The average business confidence rating was 4.18, out of a possible 5 points, with a peak of 4.67 expressed by stakeholders in Umm Al Quwain.

“The strategies adopted by the UAE’s 2021 Vision, Abu Dhabi’s Economic Vision 2030, and Dubai’s Plan 2021, are all intended to attract foreign capital to promising activities, especially export-oriented sectors such as manufacturing, transport, logistics, tourism, telecommunications, renewable energies, and aviation,” outlined Mubarak Rashed Al Mansoori, Governor of the Central Bank of the UAE. “Increased incentives, establishment of a common definition, and provision of modern facilities tailored to the needs of SMEs owners have been put in place to initiate growth and development in the sector,” added Mohammed Ahmed bin Abdul Aziz Alshehhi, Undersecretary of the Ministry of the Economy.

These efforts are brought to light in TBY’s extensive sector-by-sector coverage of the country. Knowledge sharing between TBY and DP World has given rise to an informative infographic on the growing infrastructure and network of the UAE import-export destinations. With a market consolidation of USD15 billion, the government-controlled company keeps playing an ever-growing role in facilitating trade exchange between the West and East, gaining particular relevance in Central and South Asia and Latin America. Moreover, as a further proof of the growing ambition of the UAE to increase its business footprint beyond the Gulf and MENA region, Dr. Sultan Al Jaber, Minister of State in the UAE Cabinet and CEO of ADNOC Group, “we see great potential for overseas investment and expansion in Asia, where we recently signed the first concession agreement between the UAE and India… [and] we are increasing our commitment to China…to develop our relationships with our Chinese and Asian partners further”.

Ties—both diplomatic and economic—between the UAE, Europe, and the Middle East are also brought to the fore in the publication. Theresa May, Prime Minister of the UK, makes a guest appearance speaking of the importance of consolidating old alliances between the UK and GCC countries and on the need to elevate trade partnerships encouraged by Abu Dhabi’s vision for 2030. This edition also highlights how the UAE’s ties with Egypt will continue to increase in prominence, with the two countries seeing the implementation of development projects in vital sectors including energy, housing, education, and defense.

The Business Year: United Arab Emirates 2018 features many key government and private-sector figures. The Abu Dhabi chapter will thus have as exclusive contributors Dr. Sultan Al Jaber, Minister of State in the UAE Cabinet and CEO of ADNOC Group; Khalifa Bin Salem Al Mansouri, Undersecretary of the Department of Economic Development-Abu Dhabi; Maryam Eid AlMheiri, CEO of the Media Zone Authority–Abu Dhabi & twofour54; and Khaldoon Khalifa Al Mubarak, Group CEO and Managing Director of Mubadala Investment Company.

The Dubai chapter will include Fahad Al Gergawi, CEO of Dubai FDI; Hamad Buamim, President & CEO of Dubai Chamber of Commerce and Industry; Osman Sultan, CEO of du; and Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World.

As for the Sharjah chapter, it will feature comments by Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Sharjah Investment and Development Authority; Dr. Faisal Ali Mousa, Chairman of FAM Holding, Badr Jafar, CEO of Crescent Enterprises; and Khalid Jasim Al Midfa, Chairman of Sharjah Commerce and Tourism Development Authority.

The Emirate of Ras Al Khaimah will have a chapter enriched by contributions of Sheikh Mohamed bin Kayed, Chairman of Ras Al Khaimah Department of Economic Development; Abdallah Massad, Group CEO of RAK Ceramics; and Ramy Jallad, Group CEO of Ras Al Khaimah Economic Zone (RAKEZ).

The Fujairah chapter incorporates comments by Sharief Habib Al Awadhi, Director General of Fujeirah Free Zone Authority; Mohammed O. Bin Majed Al Aleeli, Managing Director of Fujairah Department of Industry and Economy; Khalid Mohammed Al Jassim, Director General of Fujairah Chamber of Commerce and Industry; and Antoine Maalouli, General Manager of Al Fujairah National Insurance Company.

The Ajman chapter, among others, will combine interviews of Ali Eissa Alnuami, Director General of the Department of Economic Development–Ajman; Faisal Ahmed Al Nuaimi, Deputy Director General of Ajman Free Zone; and Imad Dana, CEO of Al Zorah Development.

Finally, the Umm Al Quawain chapter includes Sheikh Khalid bin Rashid Al Mua’lla, Chairman of UAQ FTZ and Saeed Nasser Al Talay, Chairman of Umm Al Quwain Chamber of Commerce and Industry.

Ayşe Valentin, CEO of TBY, commented, “The Business Year: United Arab Emirates 2018 embodies something that has never been achieved before by any research firm, and its release during the Year of Zayed adds a further special flavor. For half a decade, we have been covering extensively in successive editions the different investment opportunities of Abu Dhabi, Dubai, Ras Al Khaimah, and Sharjah each with a single publication. This time, we sought to pay tribute to the vision of founding father of the UAE, Late Sheikh Zayed, gathering all the Emirates in one platform. The growth and continuous innovation of the UAE across different sectors is testament to a visionary governance and successful management of natural resources. We are thrilled to launch this publication, with details of the latest and greatest business developments here in the UAE.”

© Press Release 2018