THE STORY OF UAE BY MOHD BIN RASHID AL. MAKTOUM PART IV (FINAL PART)

 

MY VISION - CHALLENGES IN THE RACE OF EXCELLENCE- THE STORY OF UAE BY MOHD BIN RASHID AL. MAKTOUM


Excellence in Investment

What really interest an investor is enabling environment for business and return on investment. If an investor comes to Dubai, invest in a certain project and makes a million, he will respond by investing two million e.t.c and the story of success spread fast.

Dubai is not an oil dependent Emirate. Oil represent a tiny percentage of our GDP. Our development projects are either self-financed, financed through Islamic Banks loans, or through bonds floated in Dubai or Europe financial markets.

Attracting foreign investment requires accountable, transparent and ethical government sector. Unless government eradicate corruption they will never attract genuine foreign investment that will benefit their country.

An investor not only invest, establish companies and provide job opportunities, he promotes expertise, competition, diversity and excellence. It brings in modern business culture and new professional practices, it expands the prospects of ushering new markets, provides resident investors with new opportunities and contribute to finding solution flexible enough accommodate our own situations.

Foreign investors contribute to promoting our international reputation and pave way for us to enter new markets overseas, that is why we respect our investor and do all to make them succeed.

Dubai offers one of the world best investment opportunities in terms of the under listed trade incentives, exemptions and many more.

·        No corporation income tax

·        No income tax

·        No withholding tax

·        No tax on capital projects

·        No conversion restriction

·        No trade barriers

·        Low import duty (5%) many custom exemptions

·        Competitive salaries, home, office rent and operational cost

·        Additional reference advantage for investors in Dubai free zones such as Jebeel Ali free zone, Dubai internet city, Dubai media city, Dubai international airport. Allowing foreign investors 100% ownership rights of assets, repatriation of capital and properties, tax or custom duties exemption e.t.c- over 4000 or more companies in some trade zones with investment in excess of $15 billion or more

            ·        Investment return in Dubai among the best in the world

·        Advance infrastructure- Ultra fast commercial system network, airports, hotels e.t.c

·        Benefitting from the commercial/marketing potentials of one of the middle East best trade manufacturing, finance and marketing hub with amount of over $15 billion

·        Consistent growth in GDP, no of passengers using Dubai international airport, airfreight business, containers handled by DP, making it the middle east largest port operator and world fastest growing port operator.

·        Consistent growth in the number of interracial exhibition and conferences hosted by Dubai e.g the Dubai air show are one of the world three most important

    ·       Real estate investment very rewarding

    ·       -Value of tourism, hospitality and catering services in context ---

    ·       Growth in manufacturing etc.

Our marketing strategies target four categories: visitors, residents, trade, manufacturing and services, export market.

Dubai reputation for excellence is a treasure we must cherish and protect. We also always market the positive aspects of the emirate.

Dubai is the world’s largest re-export market and we have a sector for promoting that, i.e the Dubai tourism and marketing Department- which handles that

among other trade activities.

Excellence in managing resources and cost efficiency.

Providing quality service is more profitable than normal service i.e. Emirate airline, hotel world class hotels etc. In public sector efforts aimed at upgrading its performance and services involves a strong commitment to cost efficiency and maximizing the benefits resulting from the labour of human resources and other available resources such as work places and computer systems.

The efficiency of the government does not only affect performance of public sector, it affects that of the whole economy, including private sector.

Excellence in co-existence- living in harmony together. A friendly, tolerant atmosphere and established traditions, when everybody respects, prevail in Dubai. There is self-respect, mutual respect, sobriety, excellence and civilization.

Dubai is distinguished by its clean streets, beautiful buildings, delightful public infrastructures. Dubai is one of the safest city in the world. There is constant change in Dubai because excellence does not know idleness. Dubai abounds with initiatives, with the will to innovate and constant action day and night. Women are held in great esteem, not only because they constitute half the society, but also because they are the mothers of the society. Women are taking part in the great race of changing fortunes and winning in all spheres on merit.

 

Dubai also creates home coming for a lot of Arabs expatriates, who wants to enjoy the same lifestyle in western world where they ply their trade.

Dubai respects the religion and faith of other people, they respect ours. God says in His Holy Book “let there be no compulsion in Religion”. Dubai is a blend of Arab civilization and global aspiration of excellence.

Whoever talks today about a war between civilization and about an enmity between Islam and the west, claiming that the West cannot co-exist with Islam and that Muslim glorify death and life have evidently not visited Dubai or heard about the history of Cordoba or even that of all the great Arabian cities.

All those cities were living examples of successful co-existence between all religions. We in Dubai are doing same and providing proof once again that co-existence is what Islam calls for. The history of our civilization stands witness to this.

Made in Dubai

We announced 47 months ago about the extension of the Dubai metro red line at a cost of 11 billion Dirhams. Today, we Are launching our project with 50 trains, 7 stations, 125,000 passengers daily, 12,000 engineers and technicians and 80m hours of work to complete our work on time as we pronounced. We say what “we do and we do what we say”. “This is Dubai”. By HH Sheikh Mohammed.

As we speak Dubai has become a Tourist haven, recording a traffic volume in 2021 of about 86.3m. about the 4th busiest airport in the world.

-          A few years ago, there were two (2) structures that could be seen from Space, - the Great Wall of China and the Hover Dam in USA. In 1979, Dubai commissioned the 67 berth Jebel Ali Port, the world longest man made port, which can be seen from space.

 

-          The world best horses are now trained in Dubai, we fly them to Europe to take part in races and fly them back to their training base. Godolphin has become renowned in global horse racing operation winning horse races.

 

-          Dubai internet city – the Dubai media city etc number of tech and media company in Dubai today has reached the mark of 700, turning the city to middle East most important internet, technology and media hub.


-          The Dubai international finance center was conceived in 2002. Money is the nerve centre of any economy both new and traditional – this centre is to help in quick response to financial transactions and movement of international capital. It also

-          complements Dubai internet city, Dubai e-government, Dubai e-commerce and other hi tech ventures.

 

-          More than a trillion US dollars’ worth of Arabs assets are invested in US & Europe. The Dubai international financial centre will help channel some of these resources to help in developing the Arab world and Islamic banking services.


-    To support the centre, we are developing Dubai Stock Exchange, to make the region prime market for financial papers bonds and other financial tools, matching the New York Stock exchange.

        -        UAE has over eight championship golf courses constantly increasing.

-      UAE is the world largest re-export market for right hand drive cars, largest for re-export market.

        -          Dubai houses the largest office tower in Middle East.

        -          Dubai is the world first largest airport and duty free.

        -          UAE houses the world independent aluminum shelter.

        -          UAE houses Middle East largest concentration of IT companies.

        -          UAE houses the world Tallest – most luxurious hotel.

        -          It houses the world largest man-made Island etc,

        -          Most of our projects and edifice reflects our heritage and culture.

 

 

INSTITUTIONALIZING EXCELLENCE

When community reach a certain stage in growth, the support and sponsorship of the leader become vital for consistent development. The development process must therefore be accompanied by building institutions, because civilization is only as excellent as the institutions that sustain it.

When we talk about Dubai’s programs for upgrading performance of the Government, it’s about development institution who stature has gradually become an integral part of the functioning system of our Government.

The concept of quality is taking root in the mind of our people, many departments are organizing qualitative surveys to measure the public opinion about their services and designing their training programs and cost efficiency 

PLAN ACCORDINGLY.

Training programs now goes beyond traditional public sector courses to include development of team spirit, customer service efficiency and productivity, international conferences, workshop and seminars that actually take place in Dubai allows civil servants have chance to meet experts and specialist in field of management, economy and Technology. They can then transfer the knowledge and experience to next managerial level in their various departments. Such approach institutionalizes excellence in public sector by promoting awareness among civil servants and motivating them to keep pace with institutional progress.

The continuity of this calls for institutionalization, in order to consolidate it and secure full commitment to it. It can also be back by legislative and executive orders so it becomes a way of life.

The Culture of Excellence

The best way to institutionalize excellence is to enshrine it in the society, to develop it into a social conduct, so it becomes an integral part of people behavior and psyche. We must make it an implicit part of trading, manufacturing and farming, in work place, entertainment centers, homes, schools everywhere else. It must become part of people lives, so they never accept anything less. When excellence becomes a natural extension of people psychological constitution, their links with mundane life will be severed and reverting to old ways will become symbols of backwardness and regression. If we want excellence to prosper we must grow it in our people’s minds, linking its interest to people and their future, their performance and social status. We cannot stop the global race for excellence- we just join it. Once we do, we must invest in the right efforts, time and tools. Everyone will then have a vested interest in protecting those investments.

People are intelligent and everyone who tries to sell inferior service at price of an

excellent one will have no place in our market. Excellence is not an act, but a habit. We are what we repeatedly do. We all must be committed to excellence; it is either we are best at what we do or nothing.

Even The Holy Book supports it; “whatever we lay our hands, we should commit excellence to It.

One single condition for successful development process, its LEADERSHIP. If the leadership is not committed to change, then change will not take place. The Government sector will not be energized and there will be no excellence, quality improvement or True Development.

 

 

 

Book reviewed by TT

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