Author - Truth Consultancy

April 2021

10 components that placed the UAE among the first in global competitiveness indicators

The director of the “Truth” Economic and Management Consultancy Company, Reda Mosallam, said: The progress of the Emirates’ classification on the global competitiveness indicators was not the result of the moment, but this is due to several factors, foremost of which is the sustainable development of its work in government and semi-government departments, and the state’s spending on security and its security network which guarantees the protection of investor funds and the safe life of every expatriate on its land. In addition to its possession of a modern road network and airlines ranked among the largest airlines in the world and developed ports.

He pointed out that among those factors also is the presence of advanced legislation that attracts investors and the state’s spending of billions to confront the Corona pandemic, in a way that guarantees health safety and immunizes the population from the virus.

Among those factors also is the state’s possession of sovereign wealth funds that are among the top ten in the world, in addition to being one of the easiest countries to do business globally.

 

 

March 2021

5 Economic benefits to the UAE by expanding its “logistical passport”

The director of the “Truth” Economic and Management Consultancy Company, Reda Mosallam, said that the logistical passport initiative aims in the first place to revitalize the major economic sectors in the country by increasing the activity of the transport sector of all kinds, with good storage advantages and providing facilities for merchants from all over the world.
He pointed out that the announcement of the expansion of this initiative confirms that the wise leadership in the UAE has many and many initiatives that will dazzle the world and give it a better ranking among the countries of the world in a short time.
He explained that the UAE has successful components for this initiative before its launch and before expanding it as well, as it has a strong infrastructure network supported by multiple and different transport lines, including air and sea freight, giant aircraft, and various warehouses, in addition to having the largest container port in the world, which is Jebel Ali port and land ports with the Gulf Cooperation Council.

10 factors behind Dubai topping the list of the best financial centers in the region

The Partner Manager of the “Truth” economic and management consultancy, Reda Mosallam, said that one of the most prominent things that Dubai enjoys and has made it have a global position among the global financial centers is that it has strong and easy navigation and water lines, as you can travel to Dubai easily from anywhere and at any time as you get a visit visa in a few minutes, which is indeed the main reason that made it a regional and international hub for airlines and navigation lines.

He pointed out that among those factors also is the strong infrastructure that Dubai possesses and qualifies it successfully in holding international exhibitions, in addition to keeping pace with global events and developments, and the government race to be number one in all fields.

January 2021

Experts: Increasing the percentage of foreign ownership in “Etisalat” and “Du” increases foreign investment in the financial markets

The Managing Partner of the “Truth” economic & Management Consultancy, Reda Mosallam, said that: “The decision to raise the foreign ownership rate to 49% in (Etisalat) and (Du) will lead to an expansion of the investor base and an increase in foreign investment in the capital market as a whole, as well as raising the value of shares generally traded during the coming period ».

Mosallam expected that the UAE financial markets would succeed in gaining huge foreign investments, estimated at billions of dollars during the coming period, with the support of the decisions to raise foreign ownership rates, indicating that attracting foreign investment has become one of the most important goals of the UAE during the next stage, and all the necessary decisions are being taken to achieve This goal.

He noted that raising the percentage of foreign ownership in the telecommunications sector is a major step on the road to upgrading the UAE financial markets from “emerging” to “advanced.”

The UAE strengthens its forefront in Islamic finance globally after Corona

Reda Mosallam, partner and general manager of the “Truth” economic and management consultancy, said that the UAE and Dubai have declared that it is the capital of the Islamic economy, which is an economy as we know that depends on the instructions of the tolerant Sharia and adopts indicators such as murabahah.

He explained that the UAE issued to that position to be the capital of the world for the Islamic economy was not overnight, as it started since the seventies of the current century, when it developed legislation for the field of Islamic banking, indicating that it is as a result of the accumulated experiences of banks in the country and with the assistance of the Islamic Development Bank for excellence in The field of finance for all economic fields The UAE has been distinguished as a leading country in this field.

He indicated that targeting the state to develop legislation in the field of Islamic economics, especially the requirements for financing operations, enhances the role of the UAE in the same field in light of finding permanent solutions commensurate with modern economic developments. He pointed out that Islamic finance always fills the deficit that other types of financing, such as commercial financing or international financing, do not provide to meet the requirements of all economic sectors.

December 2020

Experts: The law provides a healthy economic environment to face the emergencies

Economic expert Reda Mosallam said, the law is in the matter of consumer protection, the sustainable development of a series of legislations and laws that support and enhance the global competitiveness of the state, entrench the concepts of the state’s protection of the consumer against fraud and imitation, and instill confidence in the souls of local and international consumers, who are in the state to shop.

He added: The law has closed some gaps in the previous laws, the most important of which are: ensuring the quality of the good or service, ensuring that the commodity is obtained at the declared and approved price by the official authorities, and ensuring that there is no hidden increase, in addition to the consumer obtaining his full rights before the seller, advertiser or agent After-sale service, as per years of warranty.

The launch of a unified tourist identity rediscover the fortunes of UAE

A recent report issued by the “Truth” Economic and Management Consultancy said that the launch of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, “May God protect him”, the unified tourism identity initiative, which contributes mainly to discovering the wealth of the UAE.

The report that the company assigned to the newspaper “The Vision” indicated that in light of the pandemic of the “Covid-19” virus that has swept the world and struck all over the globe and the whole world has been sitting in their homes for more than 4 months, flights have completely stopped, and all international tourism delegations have been canceled. Among the destinations of those delegations is the United Arab Emirates.

The partner and general manager of the company, Reda Mosallam, said that from here, the unified tourism identity initiative was launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister and Ruler of Dubai, “may God protect him”, to move strongly towards domestic tourism and rely on it. During the current period until the world’s life returns as it was before the pandemic, and then restructuring the tourism sector to face global tourism, including the local airlines (Etihad – UAE and others) to bring in those delegations.

He pointed out that the campaign “The Most Beautiful Winter in the World” has been launched, which is the first unified campaign for domestic tourism at the level of the UAE, and will continue for a period of 45 days, with the participation of all tourism agencies in the country, under the coordination of the Ministry of Economy, and with the support of the Media Office of the UAE government.

He explained that the campaign targets various groups of Emirati society, including citizens, residents and visitors, to encourage domestic tourism in the regions and emirates of the country as a whole, as one destination, while highlighting the characteristics and features of each emirate, and rediscovering the country’s natural, geographical and historical wealth, and the multiple attractions throughout the emirates of the state.

He emphasized that the state’s tourism sector is one of the most important sectors of the state’s domestic product, and this is due to several things, foremost of which is the state’s possession of the various types of tourism, for example marine tourism and the practice of marine mathematics, as it has the most beautiful beaches, their extension, diversity and calm waves.

He pointed out that one of those elements is conference tourism, as there are large areas and various places equipped with the latest means that help the two conferences to rest and reach the best decisions, adding that among those elements is shopping tourism and desert sports, because the state has advanced and large shopping centers that allow displaying the largest commodities. And others.

He explained that this sector contributes a large percentage to the gross domestic product, and also contributes to a strong and real addition to soft power, as the state exerts all efforts to form the mental image of the state regionally and internationally.

He indicated that among the most important of these efforts is the development of a unified identity of the state in all humanitarian, economic, tourism, media and scientific fields, and the strengthening of the UAE’s position as a gateway to the Arab region and its cultural stock and as the capital of the Arab world for culture, art, media, tourism and science.

He added that among those efforts is also the development of effective international networks with individuals and institutions around the world to serve the goals and interests of the state, in addition to consolidating the country’s reputation as a modern, open, tolerant and loving country for all peoples of the world.

8 factors enhancing the UAE’s position in the Arab and global competitiveness index

Reda Mosallam, director of the company “Truth” economic and management consultancy, told “alroeya” that the UAE has the two largest aviation networks in the region, “Etihad Airways” and “Emirates Airlines”, and has airlines with most countries of the world, as well as two commercial ports, “Jafza.” “And” Jebel Ali “, and we also do not forget the largest oil export port in the region on the Arabian Sea, which is the port of Fujairah, and this helped the country to be at the forefront of countries competing to attract foreign investment.

He pointed out that a series of legislations had been issued that help with competitiveness, for example the Competitiveness Law, which transformed the National Statistics Center into the Federal Competitiveness and Statistics Authority.

Mosallam explained that the UAE is characterized by high quality, and that it takes into account and exerts significant costs in quality and maintaining quality, safety standards and discipline, so any product in the Emirates is an internationally approved product and is known for its quality and compatibility with standards, whether in the foodstuff or manufacturing sector, all of this. Help the UAE to be at the forefront of the Arab countries.

The UAE economy.. Exemplary resilience to the repercussions of the pandemic

The economist, partner and general manager of the “Truth” Economic Consultancy Company, Reda Mosallam, identified a number of factors that enabled the UAE to preserve its position as a model for emerging markets in the Middle East region despite the Corona pandemic crisis and its severe repercussions.

The first of those factors that Mosallam spoke about in statements to “Sky News Arabia” is the state’s important location in the Arabian Gulf, in addition to the superior infrastructure, especially with regard to ports such as Kizad Port in Abu Dhabi and Jebel Ali Port in Dubai. As well as the very important free zones, in addition to the two largest airlines in the region (Etihad and Emirates).

He explains that “the UAE is a rich country, and it has strong financial surpluses, and at the same time its progress stems from the conviction of all that is new and innovative that is applied. The UAE maintains strong relations with all countries of the world.

Among the factors that Mosallam highlighted, is the factor of “legislation” that facilitates foreign investment, which are “clear and easy” legislation and laws.

The economist stresses that all sectors of the GDP in the Emirates are superior, in addition to the fact that the country has soft power and a positive mental image in the whole world, and is making huge efforts to make the world know that it is a state of happiness and tolerance.

The economist touched on Abu Dhabi, which ranked ninth in the world in the axis of economic performance, indicating that it is rich in financial surpluses represented by the sovereign funds that exceeded a trillion dollars, in order to protect them and strengthen their position, to the point that some countries maintain the dirham as a currency reserve currency.

Mosallam added, “The oil surpluses that the state enjoys suffices for long periods and large quantities. The UAE in general produces about three million barrels per day, has a huge surplus of natural gas, and God has blessed it with energy resources, in addition to that it has occupied an important position in foreign aid since the sheikh. Zayed bin Sultan Al Nahyan, who has always had white hands on poor Arab and Islamic countries, has provided generous aid to the needy. “

November 2020

Experts: Providing investment options that support the economy with quality projects

Reda Mosallam, partner, and general manager of the “Truth” Economic and Management Consultancy said that the adoption of amendments to the Companies Law to allow the introduction of new forms of companies while allowing foreigners to fully own projects and thus attract more investments and permanent foreign inflows that pump into the arteries of the national economy.

Mosallam added that these amendments will strengthen the legislative environment in the country, especially in the economic aspect, and will have several positive effects, as the establishment of companies with foreign ownership will provide more job opportunities as well as the availability of new products and services, which will be reflected in the growth of the foreign domestic product.