Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, issued a law bringing Dubai’s economic zones under one umbrella, a move designed to further strengthen the emirate’s status as a global and regional investment hub.
The Dubai Airport Free Zone, Dubai Silicon Oasis and Dubai Commerce City will be supervised by the newly-created Dubai Integrated Economic Zones Authority, starting on January 1, 2022, the Dubai Media Office said in a statement on Monday.
The new authority will be chaired by Sheikh Ahmed bin Saeed Al Maktoum, and Mohammed Al Zarooni will be its chief executive, the statement added.
The creation of the integrated body is part of Dubai’s efforts to introduce frameworks for “further improving services provided to businesses and investors, which in turn will help accelerate economic growth”, Sheikh Mohammed said in the statement.
“The establishment of the Dubai Integrated Economic Zones Authority is a vital move to enhance Dubai’s global competitiveness and raise its investment attractiveness.
“The private sector is a major partner in our development journey over the next 50 years. Our objective is to make Dubai the destination of choice for global investors and a major focal point for global commerce,” he said.
The idea is to facilitate greater access to global markets through an “accelerated transition to a digital environment”, he added.
Dubai, the Middle East's financial, transportation and trading hub, attracted Dh24.7 billion ($6.7bn) in foreign direct investment in 2020 through 455 projects, according to data from the Dubai FDI Monitor released in April by the Dubai Investment Development Agency (Dubai FDI), an agency of Dubai Economy.
The pace of Dubai’s recovery has picked up on the back of wide-scale coronavirus testing and vaccinations. Dubai’s economy is expected to grow by 4 per cent this year, according to government data.
More than 5,000 international firms, covering 20 key economic sectors and employing 30,000 people from across the world, will operate under the Dubai Integrated Economic Zones Authority, the media office said. Economic activity regulated by the new authority generates 5 per cent of Dubai’s gross domestic product, it added.
The new authority has been given the task of attracting local and international companies to set up base in Integrated Economic Zones in Dubai.
It will also be responsible for promoting the emirate’s economic competitiveness in retail, technology, Islamic economy, e-commerce, industrial, logistics and shipping sectors, while also supporting small and medium enterprises.
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What is Folia?
Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.
Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."
Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.
In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love".
There are also plans to take Folia to several more locations throughout the Middle East and Europe.
While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."
Changing visa rules
For decades the UAE has granted two and three year visas to foreign workers, tied to their current employer. Now that's changing.
Last year, the UAE cabinet also approved providing 10-year visas to foreigners with investments in the UAE of at least Dh10 million, if non-real estate assets account for at least 60 per cent of the total. Investors can bring their spouses and children into the country.
It also approved five-year residency to owners of UAE real estate worth at least 5 million dirhams.
The government also said that leading academics, medical doctors, scientists, engineers and star students would be eligible for similar long-term visas, without the need for financial investments in the country.
The first batch - 20 finalists for the Mohammed bin Rashid Medal for Scientific Distinction.- were awarded in January and more are expected to follow.
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LA LIGA FIXTURES
Friday (UAE kick-off times)
Levante v Real Mallorca (12am)
Leganes v Barcelona (4pm)
Real Betis v Valencia (7pm)
Granada v Atletico Madrid (9.30pm)
Sunday
Real Madrid v Real Sociedad (12am)
Espanyol v Getafe (3pm)
Osasuna v Athletic Bilbao (5pm)
Eibar v Alaves (7pm)
Villarreal v Celta Vigo (9.30pm)
Monday
Real Valladolid v Sevilla (12am)
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
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The bio
Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.
Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.
Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.
Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.
