Wednesday, December 12, 2018

UAE-Based Gulftainer and US port deal to Create thousands of Jobs

UAE-based independent port operator and logistics company Gulftainer’s $600 million concession to develop and operate the port of Wilmington in the US state of Delaware is a “really big deal” for the state and has the potential to create thousands of jobs, according to Delaware Secretary of State Jeffrey Bullock.

The ports deal, which was signed by Gulftainer subsidiary GT USA in late September, marks the largest ever run by a UAE company in the United States, as well as the largest investment ever made by a private UAE company in the country.

Speaking to Arabian Business during a recent visit to the UAE, Bullock said that the deal has the potential to create “double-digit growth in the number of jobs”, although he declined to give a specific forecast. 

“If you just run the models, the economic activity can double the growth of jobs [in and around the port,” he said. “Current direct and indirect unemployment around the port is currently about 5,000 or 6,000.

“Our first priority is to maintain the employment we already have, and then provide a path forward for the port to grow. We’ve accomplished [these goals] and the third is to create new jobs. We’ll see job creation. Whether it’s 1,000 jobs or 5,000 jobs remains to be seen,” he added

Plans for the port also include the development of cargo terminal capabilities, as well as the establishment of a training facility for the ports and logistics industries that are expected to train and upskill as many as 1,000 people each year.

Bullock added that the deal – and others like it – can help bridge the cultural gap between the US and UAE.

“It’s very powerful. Some of the hesitation in the United States is kind of from the fear of the unknown,” he said. “We are different and that’s okay. But we have a lot more similarities than differences.”

Thursday, December 6, 2018

Dubai's dnata expands US services creating more than 350 local Jobs

Dubai-based air services provider dnata has launched operations at Los Angeles International Airport as it continues to expand in the United States. The company said it now provides ground handling and cargo services at 20 airports in the country.

To establish operations in Los Angeles, dnata said it has invested $8 million in infrastructure and resources, creating more than 350 local jobs.

Serving six airlines, including Austrian Airlines, Iberia, Japan Airlines, Lufthansa, Swiss International Air Lines and Qantas, dnata will initially handle 4,600 flights a year.

David Barker, CEO of dnata USA, said: “Adding Los Angeles International Airport to our growing network underlines our strong commitment to the US market, where we have significantly expanded our operations through massive investments in our facilities and resources in the past two years.”

dnata commenced ground handling and cargo operations in the United States by the acquisition of industry players in 2016. Since then, the company has invested more than $35 million in facilities, equipment, training and technology.
 
Earlier in 2018, dnata has opened a cool-chain perishable cargo facility at Dallas Fort Worth International Airport, established operations at Nashville International Airport, diversified its service portfolio by launching passenger handling services at New York JFK Airport, and most recently commenced services at Concourse G at San Francisco International Airport.

Including Los Angeles International Airport, dnata’s global ground handling and cargo network now consist of 87 airports in 13 countries.

Sunday, December 2, 2018

GEMS Education Create 16,000 Jobs in Saudi Arabia

GEMS Education and Hassana Investment Company
GEMS Education and Hassana Investment Company – a Saudi asset management firm that is part of the General Organization for Social Insurance – have penned an $800 million deal to build a network of new schools across the kingdom.

According to a statement, the joint venture is a first of its kind in Saudi Arabia and “will open up the Saudi education sector to foreign investment.”

The partnership was announced on the sidelines of the Future Investment Initiative (FII) conference in Riyadh. Officials said the educational network will be able to accommodate up to 130,000 students and create jobs for 16,000 people, around 40 per cent of whom are expected to be Saudi nationals.

“This partnership is driven by our view that the education market in Saudi Arabia is one of the most attractive growth markets over the long term,” Hassana chief executive Saad Al-Fadhli said.

“Both partners expect to create a strong and successful education platform in Saudi Arabia.”
Additionally, GEMS KSA CEO Majed Al Mutairi said that the company is a “strong supporter of Saudi Arabia’s Vision 2030.”

“The Vision’s focus on opening up public service sectors such as education highlights a commitment to developing human capital and allowing the private sector to enable long-term positive change for Saudi citizens,” he said.

Al Mutairi added that “the education sector, acknowledged as a major catalyst for change, will help create a new generation of Saudi citizens with a global perspective that is strongly rooted in the Kingdom’s culture.”

At the FII conference, the Saudi Arabian General Investment Authority (SAGIA) also announced a series of MoUs worth $2.4 billion, including a $1.6 billion deal between NMC Health and Hassana to develop medical facilities in Saudi Arabia.

The joint venture will become one of the largest private healthcare operators in Saudi Arabia and is expected to employ up to 10,000 employees over the next five years.

Monday, November 26, 2018

UAE Cabinet approves Long-term Visa system

The UAE Cabinet approved long-term visa system for investors, entrepreneurs, specialised talents and researchers in the fields of science, knowledge and outstanding students to facilitate business and create an attractive and encouraging investment environment for the growth of business for investors, entrepreneurs and professional talents.

The decision of the Cabinet follows the decision approved earlier this year to grant investors a ten-year residency visa, as well as to grant residency visas of up to 10 years for specialists in the medical, scientific, research and technical fields, and for scientists and creative talents of culture and arts, including their spouses and children. The decision aims to maintain the position of the UAE as an optimal business environment.

The decision includes the terms and conditions for obtaining long-term visas for investors, entrepreneurs, specialized talents, researchers in the fields of science and knowledge, and outstanding students to attract talents in all vital sectors of the national economy. The visa benefits also include the spouse and the children to ensure a cohesive family and social structure and to create a stimulating environment for stability and growth.
Investors

The decision includes the provisions to grant investors from UAE and broad a long-term visa. It defines two categories for investors: Investors in a property of a value of 5 million dirhams or more will be granted a residence for five years, and investors in public investments through a deposit, an established company, business partnership of 10 million dirhams or more, or a total investment of not less than 10 million dirhams in all areas mentioned as long as non-real estate investments are not less than 60per cent of the total investment, will be granted a renewable residency visa every 10 years.
 
The Cabinet decision outlines the following conditions for both categories:
  1. The amount invested shall be wholly owned by the investor and not loaned and should be proven by supporting documents
  2. Investment retention for at least 3 years A standard financial liability with a financial solvency not exceeding Dh10 million
  3. The long-term visa could also be extended to include business partners, provided that each partner contributes Dh10 million, the spouse and the children, as well as one executive director and one advisor.
  4. The decision allows investors to enter the country for a six-month period, multiple entries, to apply for the long-term visa requirements.
 Entrepreneurs

The decision also includes the terms to grant a long-term visa to two categories of entrepreneurs: those having a previous project with a minimum of Dh500,000, or having the approval of an accredited business incubator in the country. Entrepreneurs will be granted a five-year visa with a possibility for upgrading to an investor’s visa provided they meet the requirements.

The benefits of the entrepreneurial visa include entrepreneurs, partners, three executive directors, spouse and children. The entrepreneur is allowed entry into the country for six months, multi-entry visa period, with renewal for another six months.

Specialised talents and researchers in the fields of science and knowledge

The decision also includes provisions for granting a 10-year visa for specialized talents and researchers in the fields of science and knowledge for doctors, specialists, scientists, inventors. As well as creative individuals in the field of culture and art. The visa's advantages include the spouse and the children.

All categories are required to have a valid employment contract in a specialised in fields of priority for the UAE, and the conditions for each category are defined as follows:
Doctors and specialists (at least 2 of the conditions mentioned below must be met)
  1. The holder of a PhD degree from one of the top 500 universities in the world
  2. The holder of an award or certificates of appreciation for the work in the applicant's jurisdiction
  3. Contribution to a major scientific research related to the work of the applicant
  4. Published articles or scientific books in distinguished publications in the field of work of the applicant
  5. Membership in an organization related to the work of the applicant, which requires excellent work to accept membership
  6. PhD degree in addition to 10-year professional experience in the applicant's field of work.
  7. Specialization in areas of priority to the UAE (additional requirement for doctors)
  8. Scientists must be accredited by the Emirates Scientists Council.
  9. Holders of the Mohammed bin Rashid Medal for Scientific Excellence.
Creative individuals in culture and art must be accredited by the Ministry of Culture and Knowledge Development Inventors. Obtain a patent of value added to UAE’s economy with the approval of the Ministry of Economy Exceptional Talents. Those who have exceptional talents that are documented by patents or scientific research published in world-class journals.

Executives: Owners of leading, well-known and internationally recognised companies - Holders of high academic achievement, professional experience, and position (eg, an engineer in a rare speciality with a university degree and working in a private company in the UAE). The inclusion of this category aims at maintaining current competencies and attract new competencies.

Outstanding students: The decision also includes provisions for granting a five-year visa to outstanding students with a grade of at least 95per cent in public secondary schools in public and private schools, and a distinction of at least 3.75 GPA upon graduation from universities within and outside the country. Benefits include families of the outstanding students.