Magazine (289)
Children categories
Interview with Dr. Simon Galpin, Managing Director of the Bahrain Economic Development Board (EDB)
09 Jul 2019 Written by Admin SAEExclusive Interview for SA Entrepreneurs
Bahrain EDB is the country’s investment promotion agency. In practice, the EDB’s acts as a nerve centre for the Kingdom’s economic ambitions
1. Can you tell us about the role of the economic development board of Bahrain?
On the surface, Bahrain EDB is the country’s investment promotion agency. Although in practice, we have developed the EDB’s network and scope to the extent that it acts as a nerve centre for the Kingdom’s economic ambitions.
The EDB functions as a business development division, but we do not stop at just finding the right investors and business prospects. We offer this through our integrated Team Bahrain proposition. When an opportunity arises, we consider every network, contact and resource that could help the prospect launch and grow successfully. This starts from introducing the prospect to relevant government entities and local private sector businesses. It continues to ensure they have access to funding, infrastructure, and the right talent locally.
At the EDB, we are determined to be anything but complacent in our ability to attract new investments. We go all in and have had great results with this approach. For example, ICT continues to be a focus sector for us as we look at promoting Bahrain’s potential. We have cloud aspirations but only an embryonic data centre network. Knowing this could be a gamechanger for Bahrain, we invited the biggest cloud providers to come see for themselves how we could give them access to the $1.5 trillion regional economy. From regulation to cost-effectiveness, we were able to show a clear advantage over other cities. Today, Amazon Web Services (AWS), the biggest and fastest growing cloud enabler globally, is setting up its regional hub in Bahrain. As the EDB, we have taken every measure to make Bahrain the top choice, and this is the differentiation we bring to every conversation.
2. What are the main sectors in which you have been successful so far in attracting foreign investors? any data on their sectorial distribution in terms of the size of investments?
We have five main sectors and two subsectors that we, as the EDB, are promoting actively to investors. ICT, which accounted for 5% of FDI in 2018 is definitely top on our economic agenda. As with the AWS example, we have been keenly developing the sector to become a key growth generator. As you can imagine, technology cuts across all industries and segments of business, and this is where we see its value.
Another core area that we are focused on is the financial sector. Bahrain has a long-standing tradition of being a financial hub in the region. We were admittedly slower in evolving the sector technologically than other financial hubs, but this is something we believe is changing rapidly. In fact, we are currently the only country in the region to have an onshore regulatory sandbox, which today includes close to 30 FinTech concepts, in cryptocurrency, trade, payments and more.
FinTech is also an important growth segment for Bahrain. One of the key advantages we offer is competitive operating costs, approximately 30-40% less than neighbouring countries. In the Gulf, FinTech startups are expected to attract $2bn in private funding over the next 10 years, compared to $150m over the previous decade. To this end, we have developed Bahrain FinTech Bay as the region’s largest hub for FinTech businesses to come together, collaborate, learn and grow.
As part of our efforts to diversify the economy, we have also built up our profile as a manufacturing hub. The sector, along with logistics and transportation brought in a significant 24% of investments last year. Much of this comes down to the cost advantage, as well as connectivity to the entire GCC and most importantly to the largest market, Saudi Arabia.
Logistics, as it complements manufacturing, is also key to other growth sectors such as ecommerce and regional trade. We have seen tremendous success in this area. In fact, today the occupancy rate of Bahrain’s logistics zone is well above 80%, compared to 39% in 2015. Moreover, the sector has attracted over US$184 million in investments, creating 875 new jobs in the market.
Finally, and most importantly, we’re developing the tourism sector in a big way. The potential here is greatly underestimated. In 2018, for example, Bahrain received a record 13.7 million international visitors, which is 7.9% over the previous year. We have two UNESCO world heritage sites, and a growing number of retail and leisure concepts prompting greater investment into tourism. For Bahrain, we think that if we can ensure we have the right assets we can see significant tourist flows.
3. What are the procedures for foreign companies to enter the market?
Bahrain has a really simplified market entry process in many ways. We have an online registration system, Sijilat, which has digitised and accelerated the entire process of obtaining a commercial registration. On top of that, the change in entry visa procedures now allows for visa on arrival for 66 countries and eVisa’s for 114 countries. In terms of regulation, we reduced the minimum capital requirement from BD 50,000 to BD 100. We at the EDB are here to support companies, and what differentiates us and Bahrain from other business hubs is that we have a private sector approach to business. We like to call it our Team Bahrain approach, it is where the public and private sectors collaborate to create a successful business environment.
4. How can you help businesses and investors to become successful, what is your formula for entrepreneurs to be successful?
I think what is most important is that as the EDB, we recognise that there is no one-size-fits-all solution for businesses to be successful. We have consciously developed various platforms and initiatives to help entrepreneurs get the best value and returns in Bahrain. For one, as our size allows new businesses to test their products or services from here, and then scale beyond borders.
We have also worked tirelessly towards creating a startup hub in Bahrain, not just to spur investments but also to address some of the biggest challenges facing the region, such as youth unemployment. We see startups as job creators and skill enablers. To help fledgling businesses, we introduced a new bankruptcy law to allow entrepreneurs to fail and start again. In addition to that, we are the first country in the region to have a nation-wide cloud first policy, which will allow the government to provide services more efficiently and at a lower cost. Shortly after that came the data protection law which is modelled after global practices.
We believe business success is relative to the ecosystem in which it operates. Our efforts have been consistently directed at making sure Bahrain offers the ideal conditions for entrepreneurs and investors to thrive.
5. What is your vision and your efforts in terms of the 4th industrial revolution and the digital economy?
I think as a nation we are on the right path towards digitalisation and Industry 4.0. Proving this point is the fact that we saw investment levels rise by over 13% in 2018, to approximately US$830 million..
To this end, we have attracted several incubators and accelerators, as well as a substantial flow of financing through the US$100 million Al Waha Fund of Funds. Already, we have deployed 45% across five funds, four of which are technology focused and one FinTech focused.
To add to this, Bahrain is the first country in the region to introduce a cloud-first policy. Our ability to attract big names such as AWS reinforces Bahrain’s willingness and potential to create the perfect environment for 4IR-driven disruption in the region.
We are also developing the skills to complement this evolution. This includes upskilling Bahraini talent to lead the region in highly technical fields, including in programming, coding, industry 4.0 and FinTech. Amazon Web Services has come to Bahrain and has set up their AWS Educate program. A huge number of young Bahrainis have signed up for this – even more than in India and China. Additionally, we are working with Udacity, the Polytechnic University, and Tamkeen to develop local talent as it is a very crucial part of the ecosystem.
6. The fintech industry is gaining momentum globally and in the GCC region. Why has Bahrain chosen to be a hub for FinTech, what type of cooperation do you have with Bahrain FinTech Bay?
Financial services account for close to 20% of Bahrain’s GDP. Even before FinTech became a global phenomenon, Bahrain has had a long tradition of financial innovation that is widely accepted as the leading standard in the region. Naturally, we see a clear parallel between the Kingdom’s historical success as a financial hub, and the emerging technology trends that we are now well-positioned to support, not least because of our advanced digital infrastructure.
Bahrain FinTech Bay is a shining example of how countries can catalyse expertise and innovation. We work very closely with Fintech Bay to ensure a good balance of established names and newcomers in the financial sector. The idea here is to create an environment of collaboration, mentorship and learning that generates new ways of activating financial services. We are looking to develop capabilities in RegTech, InsurTech, and Blockchain technologies. Through its state-of-the-art venture accelerator program, FinTech Bay is bringing exciting new ideas to life. We see the co-working space as a launch pad for realising Bahrain’s FinTech ambitions.
7. According to “Expat Explorer Survey”, Bahrain is in the top of the ranking (5th place) before the USA, UK and Switzerland, how could Bahrain achieve that?
Bahrain offers a very high quality of life that sets it apart from the rest of the region. The population mix here is balanced 50:50 between expats and Bahrainis, which reinforces the Kingdom’s long history of being a cosmopolitan trading centre. Bahrain’s connectivity with the rest of the Gulf region also plays to its strengths, with flights from most cities in the region taking less than hour.
As such, the cost of living in Bahrain is also quite favourable, with estimates showing that it is 45-70% lower than our neighbours. The country also promotes religious tolerance, and is home to a number of mosques, churches, temples, and the GCC’s only synagogue.
From the perspective of workplace diversity as well, Bahrain offers equal opportunities and encourages women to enter the workforce. As an example, women make up 61% of the EDB’s workforce, while 58% of them work in management positions. On the other hand, Bahrain offers flexible worker permits, which allow expatriates to work and live in the country without a sponsor, work full or part-time, and for more than one employer, for a renewable two-year period.
8. Can you give us some examples of the most successful stories that you have?
As mentioned earlier, Team Bahrain’s success in bringing Amazon Web Services to Bahrain is perhaps one of the most notable success stories we have seen recently.
Another notable example is the expansion of the FMCG giant, Mondelez, in Bahrain. The company opened its second facility and it’s 6th global megaplant in the Kingdom in 2018, This was a great moment for EDB, given how closely we worked with the Mondelez team to build their trust in the market.
There were several critical factors that led to this. For one, Bahrain’s talented young workforce allowed Mondelez to build a world-class team here. The other equally important factor was access to Saudi Arabia. Approximately 97% of Mondelez products made in Bahrain are exported, of which 60% goes to Saudi Arabia. Through our Team Bahrain approach, we worked with Mondelez to reduce the transit times from its Bahrain factory to the Saudi market by 70%. This was significant, and stands as a testament to the Kingdom’s strength as a leading manufacturing hub in a fast-growing market.
9. Could you describe the entrepreneurial scene in the country? In terms of entrepreneurship, Bahrain (ranked: 10th) overcome Switzerland (ranked: 21st), what are your expectations in the next 10 years?
Up to 90% of Bahraini companies are SMEs, and Bahrain is top in the global startup ecosystem in terms of female founders, therefore, it’s safe to say that we see entrepreneurship as a fundamental pillar of economic growth. Education is key to develop the next generation of entrepreneurs. This forms a huge part of what we offer as a stepping stone towards entrepreneurship, through platforms such as Startup Bahrain.
We’ve seen the local startup ecosystem grow substantially in the past couple of years, from the number of accelerators and incubators to funding opportunities. This has lead to a growth in the number of startups set up in Bahrain, which has doubled, and an increaed international recognition. We recently signed an MOU with Invest Istanbul to cooperate on ecosystem development and growth and stratup support.
Looking forward, we are transforming the playing field through a comprehensive startup support programme, which is essentially a bespoke concierge for entrepreneurs. New businesses can fast-track registration applications, pitch and access funding, and really cut through the noise of business set-up. One of the more notable benefits of this programme is that it allows Global Entrepreneurship Network (GEN) members access to seed financing programs offered by Tamkeen, including a $13,000 grant and an accelerated activation timeline, alongside Bahrain Development Bank’s seed fuel program which offers up to $25,000 for 15% equity.
--------------------------------------------------------
* Dr. Simon Galpin was appointed Managing Director of the Bahrain Economic Development Board (EDB) in February 2016.
Previously, Dr Galpin was the Director-General of Investment Promotion at Invest Hong Kong (InvestHK), the Government Department responsible for attracting and facilitating foreign direct investment into Hong Kong, and helped establish the Department as one of the world's leading investment promotion agencies.
With senior management experience in both the private and public sectors, Dr. Galpin was also actively involved in promoting Hong Kong’s expanding start-up ecosystem. Prior to joining InvestHK, Dr. Galpin spent ten years with Scottish Enterprise – at that time Europe’s largest economic development agency. He was initially posted to Hong Kong in 1992 but also worked in Glasgow, Taipei, Sydney and London.
Dr. Galpin holds Masters degrees in Business Administration, Local Economic Development and International Business Law and recently graduated as a Doctor of Juridical Science.
Building a business in the modern world can be hard due to the fierce competition in all industries. This competition often forces small-scale businesses, who lack funding, to shut down.
We all know the commonly told statistic that around 90% of startup companies fail within their first few years. Although this may sound daunting, it does not mean that all innovators need to abandon their business dreams—quite the opposite really.
Those individuals who are interested in the business world simply need to understand how much it costs to start up a business.
By knowing the relative costs, they will be able to spend their money wisely and hopefully turnover more profits. This, in turn, ought to allow them to survive in this harsh business climate.
Quite often we see businesses failing as they have failed to pay attention to the finer details. As such, I would like to explore the costs of these finer details which, more often than not, can determine the success or failure of a newly founded firm.
The first thing that any startup business will need is a good website and domain. A website enables you to provide a source of information about your company which is easily accessible for potential consumers. Moreover, a website is easily shareable therefore meaning that it can enable your business to gain more attention from all around the world. Quite often we see websites being created by web designers—individuals who specialize in creating attractive websites.
These individuals are responsible for setting up, designing, building and maintaining your website. The best thing about such individuals is that they can give you a unique design which will make your website stand out. The downside is, however, that they can be quite expensive which can make life tough for startup business owners. According to Website Builder Expert, a web designer has the potential to charge you around $7000 in your first year, however, in my experience, a decent website for a startup is around £750-1500.
Alternatively, you may decide to use a website builder which is far cheaper. These sites offer you templates from which you can build your website and organize your content as you so please.
The issue here is that you will be required to do more work, and your website could come across as far more generic and potentially less professional. Nonetheless, it could be a good strategy for individuals that are interested in bootstrapping in order to save as much money as possible and get the business going.
Another potential cost could be that of business cards. Business cards are an excellent way of spreading the word about your services in a personal manner. They are also useful because they enable potential clients to know exactly how they could contact you.
Just like websites, business cards can be intricately designed or make use of basic templates. Hence, they can cost anywhere in the range of £10-£40 per 100 cards. The important thing to remember about business cards is that they should be straightforward and easy to interpret. You could, for example, outline your basic services and contact details (use a professional email address with your business domain) and then go into greater detail by using a LinkedIn page or through your website. Whichever you go, remember to stick to a clear and precise message.
But I would add as a note, that a business card is a reflection of you and your brand so it makes sense to invest in a designer and a good quality print and card. It says a lot about you!
When you’re starting up your business you may also wish to spend time with a business mentor who will guide you through the early stages of your businesses’ development. Business mentoring is a useful tool to invest in because it can enable business growth, prevent mistakes and develop your knowledge of the business world. According to The Business Mentors, mentoring programs can cost anywhere in the range of £400-£4000 depending on the level of input required.
Consultancy is another essential service that all business owners will require because it means that businesses can receive more expert advice. Consultancy firms often charge large sums of money for their services, but are well-known for providing a good service.
I believe in a consultative mentoring experience with the mentees that I support because want to be able to share my experience, expertise and embed them into a community of like-minded people. Who you surround yourself with in business, is an essential part of your business development. The wrong people, the wrong advice or no advice–can end up costing your £000s.
With all of this in mind, the question is: can you afford a business simply through bootstrapping? Could you, for example, start your business from your kitchen with the aim of spending as little as possible? Although it may be somewhat tougher than starting your business in the regular fashion, I believe that you could bootstrap and start your business from home.
This will, however, require you to do lots of research beforehand. It may also require you to develop some sort of side hustle, in order to accumulate enough funds to build your business. I strongly believe in starting on the journey with a survival budget spreadsheet so that you know exactly how much money you need to have saved or coming in to ‘survive’ during the business development process.
There will, of course, be other expenses but these are the ones which you will have to take care of right at the beginning. There are also other elements required for the business that don’t cost anything to set up like social media but can still be very time consuming and therefore costly–so use it wisely!
It will inevitably be a difficult thing at first; however, through hard work you will be able to succeed. Just like anything else, success in the business world is reliant on four key things: determination, hard work, a decent idea and passion!
source: forbes
Entrepreneurs are frequently thought of as national assets to be cultivated, motivated, and remunerated to the greatest possible extent. Great entrepreneurs have the ability to change the way we live and work. If successful, their innovations may improve standards of living, and in addition to creating wealth with entrepreneurial ventures, they also create jobs and contribute to a growing economy.
Entrepreneurship is important for a number of reasons, from promoting social change to driving innovation.
Entrepreneurs Spur Economic Growth
New products and services created by entrepreneurs can produce a cascading effect, where it stimulates related businesses or sectors that need to support the new venture, furthering economic development.
For example, a few information technology companies made up the IT industry in India during the 1990s. The industry quickly expanded and many other sectors benefited from it.
Businesses in associated industries, such as call center operations, network maintenance companies, and hardware providers flourished. Education and training institutes nurtured a new class of IT workers who were offered better, high-paying jobs.
Infrastructure development organizations and even real estate companies capitalized on this growth as workers migrated to cities where employment was growing.
Similarly, future development efforts in underdeveloped countries require robust logistics support, capital investments, and a qualified workforce.
From the highly qualified programmer to the construction worker, entrepreneurship benefits a large part of the economy.
Entrepreneurs Add to National Income
Entrepreneurial ventures help generate new wealth. Existing businesses may remain confined to existing markets and may hit the glass ceiling in terms of income.
New and improved products, services or technology from entrepreneurs enable new markets to be developed and new wealth to be created.
Additionally, increased employment and higher earnings contribute to better national income in the form of higher tax revenue and higher government spending.
This revenue can be used by the government to invest in other, struggling sectors and human capital. Although it may make a few existing players redundant, the government can soften the blow by redirecting surplus wealth to retrain workers.
Entrepreneurs Create Social Change
Through offering unique goods and services, entrepreneurs break away from tradition and reduce dependence on obsolete systems and technologies. This results in an improved quality of life, improved morale, and greater economic freedom.
For example, the water supply in a water-scarce region will, at times, forces people to stop working to collect water. This will impact their business, productivity, and income. Imagine an innovative and automatic pump that can fill people's water containers automatically. This type of innovation ensures people are able to focus on their jobs without worrying about a basic necessity like water. More time to devote to work translates to economic growth.
For a more contemporary example, smartphones and apps have revolutionized work and play across the globe. Smartphones are not exclusive to wealthy countries or people. As the growth of the smartphone market continues, technological entrepreneurship can have a profound, long-lasting impact on the world.
Moreover, the globalization of technology means entrepreneurs in lesser-developed countries have access to the same tools as their counterparts in richer countries.
They also have the advantage of a lower cost of living, so a young entrepreneur from an underdeveloped country can compete with a multi-million-dollar existing product from a developed country.
Community Development
Entrepreneurs regularly nurture ventures by other like-minded individuals. They also invest in community projects and provide financial support to local charities.
This enables further development beyond their own ventures. Some famous entrepreneurs, such as Bill Gates, have used their money to finance good causes, from education to public health. The qualities that make one an entrepreneur are the same qualities that help motivate entrepreneurs to pay it forward.
Is All Entrepreneurship Good?
Are there any drawbacks to cultivating entrepreneurs and entrepreneurship? Is there a limit to the number of entrepreneurs a society can hold?
Italy may provide an example of a place where high levels of self-employment have proved to be inefficient for economic development. Research has shown that Italy has experienced large negative impacts on the growth of its economy because of self-employment. There may be truth in the old saying, "too many chefs and not enough cooks spoil the soup."
The Role of Government
Regulation plays a crucial role in nurturing entrepreneurship. Unregulated entrepreneurship may lead to unwanted social outcomes including unfair market practices, pervasive corruption, and criminal activity.
Findings from the United Nations University also indicate the possible implications of “over-nurturing" entrepreneurship.
European economist Wim Naudé argues that “while entrepreneurship may raise economic growth and material welfare, it may not always result in improvements in non-material welfare (or happiness). Promotion of happiness is increasingly seen as an essential goal.”
Paradoxically, a significantly high number of entrepreneurs may lead to fierce competition and loss of career choices for individuals.
With too many entrepreneurs, levels of aspirations usually rise. Owing to the variability of success in entrepreneurial ventures, the scenario of having too many entrepreneurs may also lead to income inequality, making citizens more unhappy.
The Bottom Line
The relationship between entrepreneurship and economic development is important to understand for policymakers and business owners. Understanding the benefits and drawbacks of entrepreneurship allows a balanced approach to nurturing entrepreneurship to be taken, which can result in a positive economic and societal impact.
source: investopedia
Foreign direct investment to Africa defies global slump, rises 11%
01 Jul 2019 Written by Admin AdminAfrica escaped the global decline in foreign direct investment (FDI) as flows to the continent rose to US$46 billion in 2018, an increase of 11% on the previous year, according to UNCTAD’s World Investment Report 2019.
Growing demand for some commodities and a corresponding rise in their prices as well as the growth in non-resource-seeking investment in a few economies underpinned the rise.
While FDI in some large economies on the continent – such as Nigeria and Egypt – contracted, this was outweighed by a surge in flows to others, most significantly, South Africa.
“The African Continental Free Trade Area (AfCFTA) agreement will bolster regional cooperation. This, along with upbeat growth prospects, augurs well for FDI flows to the continent,” UNCTAD Secretary-General Mukhisa Kituyi said.
North Africa
FDI flows to North Africa climbed by 7% to $14 billion.
Investments in Egypt contracted (down by 8% to $6.8 billion), but the country continued to be the largest FDI recipient in Africa.
FDI to Morocco increased by 36% to $3.6 billion on the back of sizeable investments in finance and the automotive sector.
Sub-Saharan and Southern Africa
FDI flows to Sub-Saharan Africa climbed by 13% to $32 billion, recovering ground after successive contractions in the two prior years.
Southern Africa saw the biggest turnaround, with flows recovering to $4.2 billion after net divestment of $925 million the previous year.
FDI in South Africa more than doubled to $5.3 billion, although this was largely attributable to intracompany transfers by established investors.
Angola remained negative (-$5.7 billion), mainly as a result of oil and gas firms transferring funds to parent companies through intracompany loans.
East Africa
FDI held steady at $9 billion in East Africa, the fastest-growing region of the continent.
Ethiopia topped the region, even as flows to the country declined by 18%, to $3.3 billion.
Flows to Kenya swelled by 27% to $1.6 billion, due to investment in diverse sectors, including manufacturing, hospitality, chemicals and oil and gas.
West Africa
FDI to West Africa declined by 15%, to $9.6 billion, largely due to Nigeria where flows plunged by 43% to $2 billion.
Flows to Ghana also dipped, albeit by a more moderate 8%, to $3 billion.
Looking ahead
Multinational enterprises from developing countries are expanding their activities in Africa but investors from developed countries remained the key players.
Based on data through 2017, France is the largest investor in Africa, although its stock of investment has remained largely unchanged since 2013, followed by the Netherlands, the United States, the United Kingdom and China.
Growing demand and a corresponding rise in the price of commodities, of which Africa is a key producer, are expected to prop up FDI flows to the continent in 2019.
Closer regional integration aided by the AfCFTA can also draw additional FDI flows.
While investment in manufacturing and services is likely to be sustained, this is expected to be confined to a few countries in North and Southern Africa, and the emerging manufacturing hubs in East Africa.
Special economic zones buttress prospects
The growing number of special economic zones (SEZs) could become another factor in drawing investment to the continent in the coming years.
There are an estimated 237 SEZs in Africa, some still under construction, along with more than 200 single-enterprise zones (so-called free points).
SEZs operate in 38 of the 54 economies on the continent, with the highest number in Kenya (61).
The three largest economies of the continent – Nigeria, South Africa and Egypt – all have well developed SEZ programmes.
Many smaller economies have only established SEZ frameworks in the last decade and tend to have fewer zones.
Stronger regional cooperation also creates scope for more ambitious regional and cross-border zones.
In 2018, Burkina Faso, Côte d'Ivoire and Mali launched an SEZ spanning border regions of the three countries. Similarly, Ethiopia and Kenya recently announced their intention to convert the Moyle region into a cross-border free trade zone.
source:unctad
(English)
دبي تستضيف القمة العالمية للتسامح 14 نوفمبر المقبل
الدكتور حمد الشيباني: الإمارات تجسد نموذجاً حضارياً في الوحدة الوطنية والتسامح
تحت رعاية كريمة من صاحب السمو الشيخ محمد بن راشد آل مكتوم-نائب رئيس الدولة-رئيس مجلس الوزراء- حاكم دبي حفظه الله ورعاه، يُنظم المعهد الدولي للتسامح بدبي -إحدى مبادرات مؤسسة محمد بن راشد آل مكتوم العالمية- الدورة الثانية من«القمة العالمية للتسامح» تحت شعار -التسامح في ظل الثقافات المتعددة: تحقيق المنافع الاجتماعية والاقتصادية والإنسانية وصولًا إلى عالم متسامح- خلال الفترة (16-14 نوفمبر 2019م) بمُشاركة نخبةً من المتحدثين والمختصين المؤثرين.
حيث تُختتم أعمال القمة بالتزامن مع اليوم العالمي للتسامح تكريساً لمفهوم التسامح كلغة للتفاهم و الحوار. ومن المتوقع أن يشارك في القمة مسؤولين وقادة حكوميين وخبراء سلام وأكاديميين و متخصصين ومؤثرين اجتماعيين ومبعوثين من المجتمع الدبلوماسي الدولي والجمعيات والمنظمات الدولية وطلبة جامعات، حيث تسعى القمة لتسليط الضوء على جهود دولة الامارات العربية المتحدة في تعزيز التسامح، وكذلك تسعى القمة لأن تكون فضاءا مفتوحا ومنصة حوارية تستهدف تعزيز القيم الإنسانية ،ونشر مبادىء التسامح والتقارب وقبول الاخر دون تمييز ، وإرسال رسالة محبة وسلام إلى شتى أنحاء العالم ، والتاكيد على الدور الذي تلعبه في مجال تعزيز الحوار والتفاهم بين الأديان، وتعزيز لغة الحوار والتفاهم بين الأديان والثقافات، والتي تأتي متسقة مع دعم مبادئ الاحترام المتبادل وتحقيق الأمن والسلام للبشرية.
وقال الدكتور حمد بن الشيخ أحمد الشيباني-العضو المنتدب للمعهد الدولي للتسامح-، رئيس اللجنة العليا المُنظمة للقمة العالمية للتسامح "تُجسد دولة الإمارات العربية المُتحدة حكومةً وشعباً نموذجاً حضارياً في التسامح ,الذي يعد من أبرز القيم الإنسانية التي أرسى قواعدها المغفور له بإذن الله الشيخ زايد بن سلطان آل نهيان طيب الله ثراه، مستمداً هذا الإرث الحضاري العريق وتلك القيمة النبيلة من الأجداد، الذين تناقلوها جيلاً بعد جيل وصولاً إلى ذلك الجيل الذي ساد العالم بتسامحه وعطفه وعدالته، وأضاف :"بالنظر إلى ما تمثله القمة العالمية للتسامح بدورتها الثانية و ما تحمله من قضايا هامة تطرحها على طاولة النقاش عبر ثلة من المتحدثين البارزين وأصحاب القرار ، تمثل قيم ومبادىء سامية والتزام تام بالتعايش السلمي، ودعا الجميع إلى بذل قصارى جهدهم والمُشاركة والتعاون لإنجاح القمة.
وقال الشيباني إن القمة محطة هامة للتلاقي والتباحث والخروج بأفكار موحدة لتعزيز حماية المجتمعات وتحصينها لا سيما الشباب ،مشدداً على أن الأسرة والمؤسسة التعليمية أحد أهم مفاتيح التعايش والتسامح وبناء مجتمع القيم الإنسانية، كوسيلة حيوية لنشر السلام والاستقرار والحفاظ عليه .
وأضاف العضو المنتدب للمعهد الدولي للتسامح أن أهمية انعقاد القمة العالمية للتسامح في إمارة دبي باعتبارها "الحدث الأول من نوعه" على مستوى المنطقة والعالم، آملاً أن يشكل في نسخته الثانية فرصة للمتخصصين ورجال الفكر والقانون وأصحاب القرار لإيجاد قاعدة للحوار البناء والتفاهم بين الشعوب. وبين أن الرسالة التي تحملها القمة نابعة من نهج دولة الإمارات العربية المتحدة ودستورها القائم على التسامح ،وأن المحاور والجلسات وورش العمل ،ستسعى إلى تأكيد أهمية التقارب بين الشعوب والحضارات، والتركيز على القيم الإنسانية المشتركة بما ينمي روح المحبة والتعايش السلمي.
كما تتضمن القمة خلال جلساتها الحوارية وورش العمل المصاحبة، فرص مهمة للحوار وتبادل الآراء والخبرات وبناء العلاقات والشراكات الإيجابية من خلال المناقشات والأفكار التي يطرحها المفكرين وأصحاب التجارب المبتكرة على مستوى العالم في هذا المجال.
وأكد الشيباني أن القمة في دورتها لاثانية استحدثة عدد من الفعاليات أبرزها المعرض الحكومي للتسامح حيث تعرض عدد من الجهات الحكومية مشاريعها ومبادراتها المتعلقة بالتسامح، والتنوع ، والتعايش السلمي في بيئة العمل، وكذلك تسليط الضوء على مشاركاتهم الفعالة في الأحداث التي تدعم قيم التسامح، أما مشاريع الطلبة للتسامح فتقدم القمة من خلالها منصة مثالية للجامعات والمدارس والمؤسسات والمراكز التعليمية لعرض مشاريع طلابها وتسليط الضوء على جهودهم ووجهات نظرهم حول التسامح، بالإضافة إلى التعرف على أدوار وجهود المؤسسات التعليمية في دمج التسامح مع برامجها ومناهجها الأكاديمية، كما توفر برامج القمة فرصة مثالية للقادة لإجراء حوار مفتوح ومناقشات لتعزيز التعاون والتفاهم بشكل أكبر ، ومن الأنشطة النوعية الجديدة التي تنضوي تحت مظلة القمة"مجالس التسامح" وهي حوارات تفاعلية تناقش موضوعات هامة أبرزها أصحاب الهمم وبث التسامح حول العالم، كما تركز على مساهمة المرأة والأسرة والدور الهام الذي يلعبه الطلبة والشباب في ترسيخ قيم التسامح في المجتمع، أما مكتبة التسامح فستتيح لمرتاديها ، إمكانية الوصول إلى مجموعة واسعة من الكتب المتعلقة بالتسامح من جميع أنحاء العالم،و الحصول على منظور عالمي واسع النطاق، فيما يعرض المعرض الفني والفوتوغرافي أشكال التسامح وصوره في المجتمع من خلال أعمال فنية يقدمها فنانون ومصورون من أنحاء العالم لإبر از مهاراتهم والمنافسة على جائزة أفضل صورة فوتوغرافية وفيلم، بالإضافة إلى تسليط الضوء على أعمالهم في وسائل التواصل الاجتماعي و وكالات الأنباء.
قناة للتسامح عبر اليوتيوب
تتيح القمة العالمية للتسامح ميزة فريدة من نوعها حيث سيتم إجراء المقابلات بشكل دوري مع المقيمين للاستماع إلى أرائهم حول التسامح والتعايش ، كما سيتم عرض الحدث في بث حي ومباشر على قناة اليوتيوب الرسمية للقمة ما يتيح للجميع إمكانية التفاعل والمشاركة من خلال إرسال استفساراتهم للمتحدثين والمشاركين.
جدير بالذكر أن القمة في دورتها الأولى شهدت مشاركة 1866 مشارك من 105 دولة حول العالم، من متحدثين وخبراء ومختصين في مجال التسامح.
(العربية)
Under the patronage of Mohammed bin Rashid Al Maktoum
Dubai to host World Tolerance Summit on November 14
Dr. Hamad Al-Shaibani: The UAE embodies an urban model of national unity and tolerance
Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, the International Institute for Tolerance in Dubai (IIT), part of the Mohammed bin Rashid Al Maktoum Global Initiatives, is organizing the second edition of World Tolerance Summit with the theme “Tolerance in Multiculturalism: Achieving the Social, Economic and Humane Benefits of a Tolerant World”, which will be held on 14-16 November 2019 with the participation of distinguished speakers and specialists.
The summit will coincide with the International Day of Tolerance, in recognition of the concept of tolerance as a language of understanding and dialogue. The summit is expected to include officials, government leaders, peace experts, academics, specialists, social workers, envoys from the international diplomatic community, international associations and organizations, and university students. The summit will highlight the efforts of the United Arab Emirates to promote tolerance, by spreading its principles, encouraging acceptance of others without discrimination, and by sending a message of love and peace to all parts of the world to emphasize the role it plays in the promotion of dialogue and understanding between religions, as well as the promotion of principles of mutual respect, security and peace of mind by promoting interfaith and intercultural understanding.
"The UAE government and people represent a civilized model of tolerance, which is one of the most important human values laid down by the late Sheikh Zayed, may Allah have mercy on him," said H.E. Dr. Hamad Al Shaikh Ahmad Al Shaibani, Managing Director of the International Institute for Tolerance, and Chairman of the Higher Committee of the World Tolerance Summit, on the noble value of the ancestors, who passed it on generation after generation and tolerated the world. "In view of what the World Tolerance Summit represents in its second session, and the important issues that will be raised on the table through a group of prominent speakers and decision-makers represent the values and principles of the sublime and full commitment to peaceful co-existence, and we are calling on everyone to do their best participation and cooperation for the success of the summit.”
Al-Shaibani said that the summit is an important platform for meeting, discussing and coming up with unified ideas to enhance the protection of societies, especially young people, stressing that the family and the educational institutions are one of the keys to peaceful coexistence and tolerance.
The Managing Director of the International Institute for Tolerance said that the importance of holding the World Tolerance Summit in Dubai is "the first event of its kind" in the region and the world, and with hopes to establish in its next edition an opportunity for specialists, intellectuals, law and decision makers to create a basis for constructive dialogue and understanding among peoples. The theme of the summit stems from the UAE's approach and its tolerance-based constitution. The themes, meetings and workshops will seek to emphasize the importance of harmony between peoples and civilizations and focus on common human values in a spirit of love and peaceful coexistence.
The summit will also include important opportunities for dialogue, exchange of views and experiences, and building positive relationships and partnerships through discussions and ideas by innovative thinkers and experts around the world.
Al-Shaibani stressed that the summit will hold a number of activities, including the Governmental Tolerance Exhibition, where a number of government bodies will present their projects and initiatives related to tolerance, diversity and peaceful coexistence in the work environment, as well as highlighting their active participation in events that support the values of tolerance. The summit will also provide an ideal platform for universities, schools, institutions and educational centres to present their students' projects, highlight their efforts and perspectives on tolerance, and learn about the roles and efforts of educational institutions in integrating tolerance with their programs. The summit programs will provide an ideal opportunity for leaders to engage in an open dialogue and discussion to further enhance cooperation and understanding, and new enriching activities under Tolerance Majlis which are interactive dialogues that discuss important topics, most important of which are inspiring and spreading tolerance around the world. The contribution of women and the family and the important role played by students and young people in the consolidation of values of tolerance in society, and the Library of Tolerance will allow its users access to a wide range of books on tolerance from all over the world and access to a broad global perspective. The art and photography exhibition will feature works by artists and photographers from around the world to highlight their skills, compete for the best photo and film award, and highlight their work in social media and news agencies.
YouTube channel for tolerance
The World Tolerance Summit offers a unique feature where regular interviews will be held with residents to hear their views on tolerance and co-existence. The event will be streamed live on the official YouTube channel of the summit, allowing everyone to interact and participate by sending their questions to speakers and participants.
It is worth mentioning that the summit held its first session which was attended by 1866 participants from 105 countries around the world, including speakers, experts and specialists in the field of tolerance.
Entrepreneurs And Investors, It's Not About Bitcoin: Build Or Invest In Blockchain Solutions
31 May 2019 Written by Admin AdminThe recent rise and fall of Bitcoin (slight uptick recently), should give you pause for thought and help you understand where the real potential might be. While the future potential of secure digital payments through crypto currency remains to be seen, the focus should be on building blockchain based platforms and marketplaces. The rapid rise and fall in Bitcoin should remind us of the early Internet days when a new technology arrives but no one really knows how to use it. Early websites were nothing more than brochure ware while companies like Amazon saw the real potential to conduct enterprise-based ecommerce in entirely new ways. Sometimes, it’s not about the product but about the technology. And in this case, that is blockchain.
Here is a simple definition of blockchain. A blockchain is a digital record of transactions. The name comes from its structure, in which individual records, called blocks, are linked together in single list, called a chain. Blockchain can be used for recording transactions made with crypto currencies, such as Bitcoin, but have many other powerful applications. Each transaction added to a blockchain is validated by multiple computers on the Internet. These systems, which are configured to monitor specific types of blockchain transactions, form a peer-to-peer network. They work together to ensure each transaction is valid before it is added to the blockchain. This decentralized network of computers ensures a single system cannot add invalid blocks to the chain.
So why should you as an entrepreneur or investor care more about blockchain than Bitcoin? Bitcoin is still a speculation on a future crypto currency that the world may not yet adopt. Maybe in the future, maybe not. But blockchain is a serious technology that can provide a variety of solutions. Imagine you are an automotive manufacturer and you have a product quality problem. Rather than recall thousands or millions of cars, you can simply recall the cars whose part is potentially defective based on blockchain identification and tracking. Or perhaps you need to track a product or good all the way through the supply chain to verify its source or heritage. Think heirloom tomatoes or cannabis where absolute tracking is critical.
The real potential for blockchain will come from existing companies or startups that actually build the new platforms and marketplaces of the future. Using tokens (values of an asset), here are four potential solutions that companies can build using blockchain.
Source: forbes
5 Ways to Optimize and Accelerate Your LinkedIn Company Page in 2019
31 May 2019 Written by Admin AdminThe latest 2019 LinkedIn statistics support the importance to companies of having a well-established presence on LinkedIn:
- LinkedIn has more than 30 million companies on its platform.
- LinkedIn is almost three times (277 percent) more effective in generating leads than Twitter and Facebook.
Even though LinkedIn can recognize Boolean operators and filter results according to the user’s search requirements to bring up the name of the company in the search results, companies still need to optimize their company page on the platform.
With a focus on following LinkedIn company page best practices and increased competition as the LinkedIn algorithm continues to evolve, here are the top five ways that companies can optimize a company page on LinkedIn in 2019:
1. Optimize for SEO.
Companies need to optimize their company page on LinkedIn for SEO. An SEO-friendly LinkedIn profile will increase online visibility among users searching for information on them, such as the types of products they offer and the services they provide. Companies can optimize their LinkedIn profile doing the following:
- Inserting keywords and phrases into their company profile.
- Creating links to their company profile by adding it to their official website, blog and other marketing and promotional material.
- Sharing relevant and engaging content on a regular basis
2. Create a visually compelling company profile.
Companies need to create a visually compelling LinkedIn profile by combining text with an image -- recommended size is 1200 x 627 pixels. Since the human brain processes images 60,000 times faster than words, adding images will provide companies with 94 percent more views.
Consequently, a company needs to take proactive measures in ensuring that they upload articles with pictures, infographics, charts, presentations and more. They can also consider creating and uploading videos on LinkedIn. They can publish these visuals with text on LinkedIn’s publishing platform as well as on their company page.
Another way a business can create visual interest is to design an appealing header image, changing it after every six months. Lastly, businesses can use their banner image for various promotional services, such as advertising upcoming events, highlighting various teams in the company and announcing seasonal campaigns.
3. Publish and share content on LinkedIn.
Publishing and sharing content on various social media websites, not just LinkedIn, has become pertinent for targeting the right demographic for a company's brand. Companies need to take advantage of this by regularly (two to four times per week) creating and publishing media ranging from articles, slideshows and videos to infographics and more on LinkedIn. The objective of content creation is to engage the audience, compelling them to return.
Further confirming the power of content creation is the statistics, stating that content receives 9 billion impression each week. However, only 3 million users share content each week, and LinkedIn has more than 500 million profiles.
4. Add strategic hashtags to posts.
LinkedIn has encouraged users to post and search for industry-specific hashtags to add to shared posts and comments. The professional networking platform provides users with a maximum of 200 hashtag categories.
Here are a few different ways businesses can use hashtags on the professional networking platform:
- Add tags based on location locally, nationally, or internationally.
- Use hashtags to keep track of clients.
- Create hashtags for prospects businesses can create hashtags for potential clients they want to attract with content creation.
- Reach out to Influencers businesses can create a list of influencers in their industry, using hashtags to draw their attention.
5. Follow the four-one-one rule.
For every four pieces of new content companies publish, they need to repost one post and one self-serving post:
- Companies do not need to create freshly curated content each time but can share content from another website or blog that they perceive as interesting and relevant to their target market. The content shared is classified as new because it has not been introduced to their audience.
- Companies can repost posts of another user that they found as intriguing read or watch with their target market, which allows businesses to build relationships with people and brands.
- Companies can create self-serving posts that have the role of promoting their business to their audience. Self-serving posts include announcements, links to
- content they have created or links to their website.
Finally, as a last hurrah to ensure your company page make a lasting impression, gather recommendations by engaging directly with clients and followers. If someone comments on an article you’ve shared on your Company Page or messages you with an inquiry, use it as an opportunity to create a dialogue and win an endorsement winning.
Source: entrepreneur
When you have a great idea for a business, the thrill can drive you headlong into an energetic launch. But wait. Statistics show that over 50% of businesses fail in their first five years– with 30% failing in the first year alone.
There are several reasons why businesses go down, but this early failure rate is usually the result of poor planning. For a business idea to succeed, you need to follow methodical procedures to ensure you launch from a firm base. And the first question to ask is whether your idea is as smart and original as you think.
- Research the market You may think you’ve come up with a fool-proof idea, but is there a market for it? Many businesses launch, only to find someone else has already had the same idea and has got into the market first. Or the potential market is so small that you’re never going to be able to make a sustainable income from it. You need to carry out a full market analysis of your idea and the target audience to ensure your idea is really going to fulfil a need.
Start by doing a SWOT analysis on your proposal, defining all the strengths, weaknesses, opportunities, and threats associated with it. Involve all your business associates, or friends and family members if you’re working alone. Going through the process will help you to evaluate and refine the concept at a high level- questions to ask include:
- What demand is there for your idea?
- If it is a product, who will buy it?
- If it is a service, who will use it?
- Who else in the UAE does this already?
- Are they successful and, if so, why?
- What price can you put on your product or service?
As you build up answers to these questions, you will form a clearer picture of whether or not your idea is sound. If it’s not, let it go.
- Compile a financial plan If your market research is positive, and you decide to proceed, the next step is to put together a financial forecast. This will become a valuable guide when you’re up and running and is essential if you’re applying for funding. The more thorough your market research and your financial plan, the better chance you stand of securing investment. This also applies if you’re relying on friends and family for launch capital– often the preferable option because the terms are more favorable. But take a professional approach and make sure you have an agreement in writing. There’s nothing like unpaid debts to turn a relationship sour.
Your financial plan is a key part of your overall business plan, forecasting how the figures will add up. It needs to include sound estimates of overheads, cash flow, income, profit/loss and investment stages, usually projected over three to five years. Of course, these figures will be largely theoretical, but they need to be based on reality, so do your research. An accountant or business startup consultant will be able to help you.
- Position your product or service So, you’ve ascertained that there is a market for your idea, and that the figures work out. Now it’s time to prepare your idea for market. You need to be able to describe quickly and clearly what it is you’re selling. Potential customers have a very short attention span, so you need to grab them in a matter of seconds.
Start with the benefits. What will your product or service do for its customers? What need or problem will it satisfy? Explain it in language that your target customers will understand in under 30 seconds. When Steve Jobs of Apple launched the iPod in 2001, he didn’t describe the new device as an MP3 player with a 5GB hard drive. He introduced it as “a thousand songs in your pocket.” The audience understood the proposition immediately. When you’re happy with your messaging, test it on friends and family, or your startup consultant.
- Build your brand The most successful businesses are instantly recognizable in many ways: their name and logo, their strapline, their colors, their use of imagery, their tone of voice. All these factors make up their brand. You don’t have to be a large, established company to have a strong brand. By paying attention to all these aspects, you can build a new brand that quickly catches on and gains recognition.
Consistency is key. Your brand needs to be an unwavering reflection of your values, but it also needs to reflect the values of your target customers. You can develop your brand personality by thinking of your product or service as a person or an animal, for example.
With the help of a branding expert, you can translate your brand personality into a look and feel and tone of voice, with brand guidelines to follow for consistency. It’s the consistent application of these guidelines across all your marketing that gives your idea life as a brand.
- Set up a legal company With your big idea developed and tested, you’re now at the stage to formally set up your business. There are various ways you can do this in the UAE. Cutting corners, though, could jeopardize your company before it even starts. The best approach to setting up a legal company is to use a reputable company formation specialist. They will listen to your needs, explain the options and propose the best way forward. They can also complete all the paperwork, set up a corporate bank account and make sure you stay legally compliant.
Patience is the key when turning a business idea into reality. Applying the above steps in order should help avoid the pitfalls of building your house on flimsy foundations. Most importantly, share the process. Listen to constructive criticism and take professional advice. After all, this could be a life-defining venture.
Source: entrepreneur
Private Investment Forum Worldwide Gathers Global Financial Elite in first Switzerland edition
19 May 2019 Written by Admin SAEThe VII Private Investment Forum Worldwide was held in Zürich on 9th April 2019
Held for the first time in Zürich, Switzerland on 9 April 2019, the VII Private Investment Forum Worldwide attracted senior industry leaders from the global investment and financial community to expand their network, source new business opportunities and grow their investment portfolio in Europe, North America, Asia and the Middle East.
The conference’s first edition for 2019, which was aimed at providing a networking platform for senior decision makers of investment companies worldwide, banks, family offices and project owners, was attended by participants from Australia, Hong Kong, Singapore, Bahrain, UAE, USA, UK, Switzerland, Germany, Italy, France, Austria, Spain, Peru, Mexico, Canada and India.
About 245 official one-on-one meetings and over 500 informal meetings were held among participants throughout the event. According to preliminary data, during the forum, more than $1.5 billion worth of projects were discussed at the forum, with this number expected to grow further in the coming months. The sectors which attracted investment were health care, manufacturing, real estate, IT, blockchain and banking.
Organized four times annually in key international locations, the Private Investment Forum Worldwide attracts senior players from the global financial and investment community. The forums’ past editions have taken place in global financial centers like Dubai and Zurich, with plans to expand into New York, Singapore, London and Tokyo.
Osama Saeed, General Manager at Bin Hamoodah Trading & General Services (BHTGS), UAE, and participant at the Dubai edition of the Forum in 2018, commented: “The UAE economy is one of the most stable in the region, always demonstrating positive signs of growth, a healthy market to invest in and good return on investment; it also provides an open-minded environment and excellent logistics, with an opportunity to travel East and West in a relatively short space of time.”
He added, “I’ve attended the Private Investment Forum for three years in a row. It is a very successful and useful platform to meet investors from all over the world, discuss topics of mutual interest, learn about the latest technologies on the market and share the risks and challenges in investment that we might face in the coming years.”
Exclusive global financial network
The PIFW’s main advantage lies in its exclusivity, as it targets representatives of the global financial and investment elite who are especially invited to the forum. The participants are invited individually in accordance with their business interests, as the organizers’ objective is to match investors with potential investment opportunities to reach specific deals.
Managing Director and CEO at KPM Asset, Anirudh Tripathy commented:
‘It is one of the most amazing forums, it’s quite private, very well crafted. It’s prearranged, preconnected and assessed. Counterparties know each other before their meeting - it is one of the best parts. Secondly, the way it’s been hosted - each guest is attended very personally that gives a very warm feeling, and that’s the reason, I’m here for the second time. I can see substantial growth. And I believe we should take it to more countries.
The app is a success key to the event. It helps to know who you meet beforehand, see their projects, and background, so you don’t have a blind date, instead, it is a prearranged business meeting, which ensures a much higher success rate.’
C-suite executives all in one place
The forum distinguishes itself with the seniority of participants being c-suite executives including CEO, Chairman, Managing Director or President, while the size of transactions reached at the forum starts from 5 million dollars. Forum participants include bankers, institutional investors, sovereign fund managers, investment fund managers and representatives of asset management, family offices, royal family offices, as well as the owners of investment projects in the health care, real estate, mining, IT, blockchain and banking sectors.
Tahnoon Nimer, CEO at The Private Office of H.H. Sheikh Saeed Bin Tahnoun Bin Mohammed Al Nahyan, and participant at last year’s edition of the forum in Dubai, said: “I’m the Chairman of 52 companies. We are among the top ten firms in the world in agriculture involved in 27 countries, providing a unique product on the market. We raise funds for governments and semi-governments across the world currently expanding in the green technology field.”
He added, “If the opportunity is right, we invest in other companies with strong capabilities in their sector. We’ve pursued opportunities in the UAE, Africa and elsewhere. The Private Investment Forum provides an interesting format to meet people from all over the world and I wish the organisers great success moving forward.”
Efficient networking opportunity
A special feature of the PIFW series is a clear focus on establishing direct contact between the most influential decision makers of the global financial and investment industry worldwide. Delegates are introduced to each other and have one-on-one meetings arranged for them, along with a VIP service. The organizers consider this a main advantage of the forum, which they say makes the forum much more efficient and worthwhile compared to traditional forums. The objective is to allow for the participants to undertake discussions and negotiations both formal and informal. A special mobile application allows delegates to enjoy exclusive access to the profiles and investment interests of other attendees, long before the forum, allowing them to get in contact with like-minded professionals and plan their schedule in advance. The result of such meetings is the radical expansion of their business opportunities, the conclusion of transactions and finding a solution to their companies strategic objectives.
Elaine Chow, Principal at Trinity Capital, commented: “It’s a pleasure to be here. I feel that my meetings were really well matched, and every person I meet is presenting something I’m interested in. A number of them I will consider. I’m pleasantly surprised.
It’s a first time I go to the forum, where there is an app where I can look at the profiles of participants who I meet, it’s very convenient to have everything in my phone.
Being a family office myself, I would strongly advise other family offices to join this forum, because it’s something they will be looking for. People that I’ve met are very friendly and professional, they are easy to talk to.”
A special feature of the PIFW series is a clear focus on establishing direct contact between decision makers. Each participant is guaranteed to meet with all other participants according to their interest. Delegates are introduced to each other and have one-on-one meetings arranged for them, along with a VIP service. The organizers consider this a main advantage of the forum, which they say makes the forum much more efficient and worthwhile compared to traditional forums. The objective is to allow for the participants to undertake discussions and negotiations both formal and informal.
Juan Carlos Lara, Managing Partner at Point5 Family Office, said: “It is pretty impressive. I talked to several participants, and I saw 2 projects that I liked. They are very in consensus with my strategies, we are looking to explore them closely with my partners. There is due diligence to be done first, but they sound very promising.
I was also impressed with the app, it’s handy, it works well. I woke up in the morning, I logged in my app, I saw all my meetings, with location, and time - pretty easy to use and well designed.”
The VII Private Investment Forum Worldwide of 2020 will be held on 17 September at the Burj Al Arab in Dubai, UAE.
