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UAE 2018 | UMM AL QUWAIN | INTERVIEW

TBY talks to Saeed Nasser Al Talay, Chairman of Umm Al Quwain Chamber of Commerce and Industry, on the biggest land investment opportunities, boosting investment in IT and construction, and on best PPP collaboration practices.

 Saeed Nasser Al Talay
BIOGRAPHY
As the First Deputy Chairman of the board of the Chamber of Commerce and the industry of Umm Al Quwain, Saeed Nasser Al Talay is a member of the board of the Federation of Chambers of Commerce and Industry, a Member of the Board of Directors of Umm Al Quwain National Bank, and Deputy Chairman of the Board of Directors of the Charitable Society in Umm Al Quwain.

Which economic sectors in Umm Al Quwain have the greatest potential for growth in the coming years?

In terms of its natural geography, Umm Al Quwain has a distinct port and many natural islands. Its deserts offer some potential for tourism, as we have seen in other Emirates. We are also expecting there to be a lot of urban development work in the coming years, with transport infrastructure expecting a boost in particular. We expect this to be followed by the retail sector, which is complemented by the port of Umm Al Quwain and proximity to the northern Emirates.

What are the competitive advantages of investing in Umm Al Quwain compared to other Emirates?

In general, Umm Al Quwain is not too different from the other Emirates in terms of the privileges it offers investors and its legal procedures. However, it is witnessing remarkable development at the moment and offers many encouraging opportunities for investment, especially in the land development field for industrial sites, commercial complexes, land leasing, and delivery of basic services at affordable prices. Umm Al Quwain has a seafront and a good commercial port that brings competitive advantages to investing in the Emirate. There is great potential for businesses that meet the needs of the Emirate, especially in the fields of information technology, education, and expertise related to the construction sector, in particular.

How has FDI from the US developed over the past few years?

We in the Emirate welcome these investments, particularly FDI related to technology, which has developed remarkably over the past few years. There are already some joint ventures in the Emirate with American companies, as well as in the free zone, and we hope that economic development in the Emirate will lead to further contributions from US investors, especially in construction and software development. The chamber is ready to welcome US investments in the Emirate and provide advice and assistance in this field.

What role do technology and e-services play for the Chamber of Commerce and Industry?

In recent years and in accordance with the strategies and directions of the UAE and the government of Umm Al Quwain, the chamber has started to develop electronic services by building a website for the chamber and the provision of services in certification of origin for exports, as well as the implementation of systems and programs related to registration. We have also installed an advanced accounting program for the chamber.

In what way can the private and public sector collaborate to further enhance the economic development of the Emirate?

From the beginning, the UAE's strategy has been based on full cooperation between the public and private sectors. One depends on the other, and the state has benefited economically from this cooperation. This is particularly reflected in the investment sector, and the government intends to further encourage the private sector, especially through youth projects. Every day we see remarkable developments in every aspect of the Emirate, and we will continue to develop ourselves as part of the UAE. The UAE must strengthen its presence in the world.