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News & Updates <strong>NAFL</strong> REVIEW Dubai Crown Prince launches transportation innovation indicator His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, has launched an indicator for innovation in modern transportation, seemingly the first of its kind in the world. “This indicator is the first of its kind and our aim is to be among the top countries in this field,” Sheikh Hamdan was quoted as saying on the UAE's official news agency, WAM. Sheikh Hamdan said the urban transportation innovation index, the first of its kind, reflects the emirate's plan for 2021, a vision set in place last year by his father, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. The vision aims to boost Dubai as a global destination on various levels. The new indicator is part of Dubai's Strategy for Innovation, a strategy comprising 20 initiatives set to be rolled out over the course of three years and aiming to transform Dubai into the world's most innovative city, Sheikh Hamdan added. Keeping his eyes on a better future, the Crown Prince unveiled Dubai Future Accelerators last July. The launched prog-ramme aims to boost private and public collaboration by connecting “the world's most innovative companies with leading figures in government to create breakthrough solutions for the world's most exciting opportunities and pressing challenges,” a statement post on His Highness' website read. Collaborative topics would include Artificial Intelligence, 3D printing, robotics, genomics and biotechnology, among others. “Our goal is to transform the city of Dubai into a global test-bed for leading ideas and technologies,” His Highness said in a statement signaling the future of the city. US$100m petroleum storage terminal opens at Hamriyah Free Zone Saud Salim Al Mazrouei, Director of Hamriyah Free Zone Authority, HFZA, and Sharjah Airport International Free Zone, SAIF Zone, recently inaugurated a US$100 million petroleum storage terminal for Sharafco Group at the Hamriyah Free Zone. With 16 storage tanks, the new facility has a capacity to store 80,000 cubic metres of oil. It is equipped with sophisticated equipment, instruments with a high rate of pumping capacity and has a wide berth as well. Al Mazrouei, who toured the facility along with other officials, said, "Due to our excellent facilities and services, several companies within the free zone have expanded their operations, which just reinforces the fact that Hamriyah Free Zone is the ideal hub. We work closely with all government departments to give investors the right platform to conduct their businesses." "The free zone has always had a reputation as a logistics centre for the upstream oil and gas industry, a chief hub for the Gulf service sector," he added. Sharfudheen Mohammed, Sharafco Group Managing Director and CEO, said, "The starting of operations reflects Sharafco's strength and determination to continue our ambitious growth plans into the international market. We are confident that, with continued support from Hamriyah Free Zone and our staff, we will achieve our ambitious goals." 09 / Sep-Oct 2016
<strong>NAFL</strong> REVIEW News & Updates DAFZA signs MoU with China (Guangdong) Pilot Free Trade Zone The Dubai Airport Freezone Authority (DAFZA) recently signed a Memorandum of Understanding (MOU) with China (Guangdong) Pilot Free Trade Zone (GDFTZ) – Nansha Area of Guangzhou (Nansha FTZ), which is aimed to further enhance bilateral cooperation between the two parties. The landmark agreement was signed by Nasser Al Madani, Assistant Director General, DAFZA and Pan Yuzhang, General Director of the General Affairs Office of GDFTZ and the Chief Economist of the Administrative Committee of the Nansha Economic and Technological Development Zone, in the presence of He Zhongyou, Vice-governor of Guangdong Province; Zheng Jianrong, Director General of the Commerce Department of Guangdong Province; Amna Lootah, Assistance Director General – Finance and Commercial, DAFZA, and other senior officials from both sides. The MoU signing was attended by the CEOs of several multinational corporations that were participating in the recently held China (Guangdong) Pilot Free Trade Zone Multi-National Corporation Summit in the Nansha District of Guangzho, the capital and largest city of Guangdong Province in southeastern China, under the theme 'New Rules, New Concepts, New Opportunities: The Construction of the Pilot Free Trade Zone and the Develop-ment of Multinational Companies. Under the terms of the MOU between DAFZA and Nansha FTZ, both parties will collaborate on expanding bilateral trade exchange; promote mutually-beneficial investments and business partnerships as well as cooperation in information technology, cross-border e-commerce and shipping logistics; exchange expertise and experiences in planning, strategy, general operations and employment models; and engage in other areas of cooperation they jointly agree on. This strategic agreement will help in further advancing the implementation of China's Belt & Road Initiative, a development strategy launched by the Chinese G o v e r n m e n t t o f o s t e r e c o n o m i c cooperation among countries along the proposed Belt and Road routes. The strategy has aided the countries engaged in the initiative in achieving US$100 billion as value of cooperation. DAFZA's agreement with Nansha FTZ will consolidate their respective strengths as leading free trade zones to mutually pursue business and investment growth. It also positions DAFZA as a major contributor to the Belt & Road Initiative which aims to extend China's global commercial ecosystem and reenergize the trade routes of Central and West Asia, the Middle East, and Europe. The new partnership complements the promotion of the strengths of DAFZA as an effective trade and economic partner for the business community and for global investments, particularly with China and the rest of Asia. This complements DAFZA's own ongoing global expansion strategy to reach new and promising markets as part of efforts to drive economic growth in Dubai and the UAE. After the signing ceremony, DAFZA delegates toured the Guangzhou Nansha Economic and Technological Development Zone to examine the Nansha port and learn more on the most important services and facilities offered as well as its expansion plans and the strategic role it plays in supporting China Belt & Road Initiative. Dubai Intn’t registers new record in air traffic Passenger traffic at Dubai International has exceeded all previous records in July surging to an historic high of 7.6 million, according to the monthly traffic report issued by operator Dubai Airports. Passenger numbers in July totalled 7,616,792 compared to the 6,682,676 handled in July 2015, a significant increase of 14 per cent. During the first seven months of the year, DXB welcomed 48,123,248 passengers, up 7 per cent compared to 44,981,967 passengers recorded during the same period last year. Eastern Europe was the fastest growing region in July up 33.4 per cent, followed by Asia which grew by 20.8 per cent, and the Indian subcontinent at 17.1 per cent. GCC traffic rose 16.2 per cent while North America registered a 13.9 per cent increase. Traditionally a strong market, India was the top destination country with 990,213 passengers, followed by the UK (573,025 passengers), and Saudi Arabia (475,841). London, Doha, Mumbai, Kuwait and Bangkok headed the list of the most popular destinations served from DXB. Aircraft movements during July reached 35,832, up 5.8 per cent compared to 33,855 recorded during July 2015. Year to date flight movements totalled 243,035 compared to 231,081 aircraft movements recorded during the same period last year, an increase of 5.1 per cent. The passengers per movement remained at world-beating levels at 220 during July as DXB's rising ratio of wide-bodied aircraft continues to drive airport efficiency. Freight volumes up 3.2 per cent Freight volumes at Dubai International contracted 1.2 percent in July to total 203,153 tonnes compared to 205,526 tonnes recorded during the corresponding month last year. During the first seven months of 2016, DXB handled 1,485,177 tonnes of cargo, up 3.2 per cent compared to 1,438,904 tonnes recorded during the same period in 2015. Meanwhile, DXB has also welcomed another increase in passenger numbers in the second week of August when millions observed the Islamic festival of Eid Al Adha and performed the annual pilgrimage of Hajj. Sep-Oct 2016 / 10
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