News

November 2021

World experts discuss the new energy agenda at ADIPEC today

Reda Mosallam, an economist and Managing Partner of the “Truth” economic and management consultancy, confirmed in exclusive statements to “Albayan” that ADIPEC 2021 is one of the most important exhibitions and conferences specialized in energy in the world. He explained that the UAE is one of the most important countries in the world, not only in oil production but also in developing production processes in the energy sector as a whole. It is always looking for sustainable development in this sector. He pointed out that the importance of the major event comes after a year of hiatus due to the “Covid 19” pandemic, which affected various sectors in various countries of the world, and the new session “ADIPEC 2021” comes as an opportunity for the energy sector to discuss the main decisions of the United Nations Climate Summit “COP 26”, . He added that all companies specialized in the energy sector meet in one time and place to discuss a common vision for the development of the sector.

September 2021

Doing Business in the UAE. Business Laws and Ease of Procedures

Reda Mosallam, an economist and general manager of “Truth” economic and management consultancy company, confirmed that the factor of laws and ease of procedures got the highest percentage in a survey because it concerns many businessmen, for example, if a person wants to extract a license that can be extracted within a few hours, the UAE It deals intelligently in this aspect to attract businessmen.

He explained that the four factors make the UAE the best environment for business, there is a lifestyle, or new laws and legislation, then infrastructure and digitization, in addition to the lack of taxes.

He pointed out that the UAE adopts a free economy system, and the most important characteristic of it is an easy lifestyle and doing business without harassment, and whoever works in the country’s investment climate enjoys complete freedom.

He added that the UAE is very advanced regarding the factor of laws and ease of procedures, and I believe that it is the first country in the world in this aspect, pointing out that the factor of infrastructure and digitization is very important as well, and the UAE occupies an advanced position in this, as there are modern and organized road projects and advanced traffic laws, and ease Moving on roads and linking them with industrial areas, ports and airports.

As well as warehouses and logistic areas, they are all factors provided by the state. As for digitization, there is something new every day, even in renewing licenses with ease and through mobile phones with easy procedures.

Mosallam explained that the UAE is free of tax legislation, and there is no specific authority to hold businessmen accountable for public income, for example, as happens in many countries, and this facilitates business, and contributes to making the UAE an attractive environment for investments.

facilities and grants

Private Sector in the UAE. Facilities to Atract Investors

The partner and general manager of Truth Economic & Management Consultancy, Reda Mosallam, said that the UAE, since its inception, has always supported its youth and those who are about to work through two main axes; The first is to rehabilitate young people in all ways that include raising their awareness, raising their mental efficiency and taking care of their physical fitness, and the second is providing the necessary means of science and knowledge by providing all facilities and grants to reach their young people to high levels of science.

Mosallam pointed out that the state cares about young people at the scientific, physical, and psychological levels, which is what many countries lack.

Reda Muslim explained that the labor market is largely based on the private sector, which represents about 95% of the labor market, stressing that the private sector considers the future of the labor market, which prompted the government to encourage young people to work in it.

The General Manager of Truth pointed out that the private sector in the UAE is very competitive and highly qualified from various countries, as it is characterized by relatively low salaries, which prompted the government to provide many advantages and incentives to be able to encourage them to work in the private sector.

Reda Mosallam continued: “The benefits offered by the government encourage young people to work in a highly competitive sector that requires more effort and time, and rehabilitates them psychologically and scientifically to withstand the difficulties of working in the private sector, in addition to bearing a large part of the difference between their salaries and the wages of their peers in the government sector for a certain period until they are able to excel and develop in the sector.”

Reda Mosallam stressed that the psychological, scientific, and material support that the UAE is making in this sector by pumping billions of dirhams in order to achieve its goal, which many countries are unable to implement.

enhance the position of Abu Dhabi

Abu Dabi and Dubai as the Safest Cities in the Middle East

The Managing partner of “Truth” company for economic and management consultancy, Reda Musallam, said that the global lead that the UAE achieved in facing the economic and health repercussions of Corona enabled it to launch strongly to re-establish international events, especially the global travel market, which witnessed a resounding success, noting that the launch of Expo 2020 Dubai World Expo next month indicates economic superiority and the high confidence of international institutions.

He pointed out that the recovery of foreign tourism and the return of activity in the retail sector and the high occupancy rates in hotels and malls confirm the world’s desire to visit Dubai and the country as a whole, and confirm the health safety rates that the world feels towards the UAE, and stressed that activating the legal amendments regarding foreign ownership of companies by up to 100 % of the main assets owned by the state and rated as the safest for investors and visitors.

emirati investments and exports

10 Tips to Increase Emirates Investments and Export

The economist, the general manager of the Truth Economic Consultancy Company, Reda Mosallam, called for issuing open, indefinite residences for investors, to contribute to achieving the goals of the Fifty-Year Plan on investment and trade, provided that these residences continue as long as the projects exist.

He said that this encourages more investors to invest in the UAE, and encourages existing investments for expansion, especially since the UAE is one of the best countries to reside, live and work in.

 

Mosallam noted the importance of many of the facilities issued by the state regarding investment, in accordance with the best practices issued in this regard, such as opening activities to 100% foreign ownership, canceling the sponsor, and announcing the issuance of golden and green residencies.

 

Mosallam called for continuing to reconsider government fees to cancel some and reduce some, to attract more investments to reach the target in the fifty projects, especially since the government has already made strides in this regard, expressing his confidence in the UAE’s ability to attract large investments during the coming years after the end of the pandemic.

 

Mosallam stressed the need for the banking sector to provide a credit on easy terms to new investors, especially since investors in the world do not rely on investing only on their money, but on obtaining soft loans from the banking system of the country in which they invest, especially since investors suffer from obtaining new loans, especially during a pandemic.

 

Mosallam called for reducing the cost of production in order to increase trade exchange and raise the competitiveness of UAE exports to foreign markets, and to reconsider the cost of basic services such as water, electricity, and gas, in addition to reducing the rent of land in industrial areas for investors so that the rent is symbolic, or the land is owned by them through annual installments.

antidote for recovery

Expo Dubai 2020. Opportunities to Attract More Investors

Reda Mosallam, Economist, Partner, and General Manager of Truth Economic Consulting said that all companies in the world will benefit from participating in Expo 2020 Dubai, especially European countries, which will allow the exhibition to display their products, innovations, and progress in various sectors.

The economist pointed out that European countries are taking advantage of Expo 2020 Dubai as an opportunity to bring together all the world’s companies in various sectors in the presence of producers and investors to show the extent of the development of their companies’ products and the science they have reached in all sectors, which supports the establishment of long-term joint partnerships and contracts.

Mosallam stated that the European countries will be in a race to impress the world and attract the largest number of investments from all over the world, and they will compete to show the progress of their companies in ways and methods of production and the quality of goods, and the exhibition will provide them with more opportunities to attract more investors wishing to invest in Prominent companies owning modern technologies.

July 2021

June 2021

The UAE Leads the Recovery of Tourism Globally

Reda Mosallam, partner and general manager of Truth Economic and Management Consultancy, confirmed that one of the most important tourism activities is conferences and events in attendance, pointing out that any country or international institution is currently considering holding an event or international conference that is holding in the Emirate of Dubai because it mediates all continents. with easy access and the availability of direct airlines to all countries of the world.

He pointed out that Dubai and the UAE, as a country, are reaping the harvest of the strength of their infrastructure in this distinguished sector, as they provide all hotel and hospitality services in accordance with international standards, which is beneficial to the sector and the country’s economy, which we expect to increase during the preparation for the Dubai Expo next October.

policies that support investment

UAE is the Best in the Competitiveness Index Due to its Policies

The Managing Partner of the “Truth” economic and management consultancy, Reda Mosallam, said that these ratings confirm the country’s progress in providing services to investors quickly and with incentives that are not comparable regionally and make it one of the competitors globally, noting that this classification was obtained by the state because of the infrastructure through which it can keep pace. With all the variables.

He pointed out that the country’s possession of strong infrastructure that includes a diverse transport network that includes the largest airlines in the Middle East and the world, as well as ports of the largest size, and easy-to-implement legislation and procedures that enhance the activity of the import and export movement in the country and will attract more investors and traders around the world to the country.

He pointed out that digital transformation, quick and easy travel procedures, the availability of health and technological infrastructure, a stable currency, security, and safety are among the advantages that will push the country to compete with the countries of the world for the first ranks in the competitiveness index during the next year.

liberalizing foreign ownership

Liberalizing Foreign Ownership Attracts New Investments

The partner economist and general manager of Truth Economic Consultancy, Reda Mosallam, said that the decision to own foreigners will reflect on the improvement of the investment climate in general and is an important step in liberalizing the national economy.

Mosallam indicated that the decision will be positively reflected, especially at the level of financial markets, which can contribute to their promotion from emerging to advanced markets, with the liberalization of restrictions on foreign investment, which was considered a major requirement in the promotion of markets.

Mosallam pointed out that the decision will contribute to an increase in the flow of foreign investment, with the removal of previous restrictions that was suffering from, with the necessity of having a local partner in investment.

He stated that the decision will add to the privileges enjoyed by the UAE, foremost of which is security and political stability, the stability of the local currency exchange rate, the rise of foreign reserves and the stability of inflation levels within safe limits.

Mosallam pointed to the quality of the infrastructure that the UAE enjoys, including advanced sea and air ports, a strong banking sector and digital technology, which makes it a qualified country to be an incubator for global foreign investment looking for a safe haven.

qualify the UAE economy

10 Factors That Qualify the UAE Economy for Growth in 2021

The Partner manager of “Truth” economic and management consultancy, Reda Mosallam, said that these ratings issued by international institutions confirm the country’s economy has fully recovered and is on the path of growth, in light of the odds that oil prices will rise to more than $62 a barrel.

He pointed out that the UAE Central’s estimates of growth this year are more than those of the World Bank, and therefore the World Bank is expected to reveal estimates of growth in the second half of the year of more than 2.1% in light of the increase in economic activity and the low rates of spread of infection with the Corona virus and the high pace of activity of real estate companies It is expected that with the preparations for the launch of the Expo, those estimates will inevitably change and will be higher than the current estimates.

He noted out that the easing of precautionary measures starting next July and the complete restoration of foreign tourism, activity in the retail sector and operating rates in hotels and malls qualify growth factors for more than what is currently estimated. He stressed that activating the legal amendments regarding foreign ownership of companies by up to 100% will attract more international investments to the state in all economic sectors and will also increase flights and thus contribute to the growth of the country’s economy.

April 2021

weapon in the face of climate change

Climate Changes. The UAE’s Green Economy

Reda Mosallam, Director of the “Truth” Economic Consultancy Company, confirmed that the UAE, since its inception, has paid special attention to preserving the climate, and this is evident in the sincere efforts made by the late Sheikh Zayed bin Sultan Al Nahyan, may God rest his soul, founder of the UAE, from In order to preserve the environment within the country, as it was alerted quickly to the issue of the environment being affected by climate change, pointing out that the developed countries are the main causes in this change, through the unprecedented and unexpected industrial development, growth rates and population increase, in the emission of millions of tons of polluting carbon dioxide for air quality.

He stated that as a result of irresponsible human behavior, this was reflected in the deterioration of the environment and the climate at the same time, as the components of the environment are now suffering from the effects of climate change represented by high temperatures and high water levels, which cast a negative shadow on the decrease in natural food security, air quality, and composition. Where harmful carbon dioxide has become prevalent in it, referring to the expectations of scientists and experts confirming that if human behavior continues at the same pace, all of humanity will be affected by severe impacts that will affect the various sectors that they deal with on a daily basis, such as health, economy, food, and others.

He stressed that those in charge of decision-making in the Emirates at the present time are still continuing to make more efforts to preserve the local environment by mitigating the effects of climate change, through insistence and emphasis on the need for international cooperation and international participation in preserving the climate and not spoiling the international environment. And finding real solutions to meet them even if huge sums of money are spent protecting people.

Reda Mosallam pointed out that as part of its efforts to persuade some countries to join the international forum on climate change, the best evidence of this is the international consensus that shows that the UAE was and still is one of the bright and positive signs and is seen as a unique model in this forum and to be emulated, and as a result of its keenness to preserve In light of its local environment and limited climate framework, it plays a pivotal role in the real contribution to the preservation of the global climate by providing assistance and support to international organizations specialized in this regard, and it is generous in this field, as the UAE spares no effort related to its neighboring countries, regional countries in the Middle East and other countries in the world.

global competitiveness indicators

UAE Among the First in Global Competitiveness Ranking

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

logistical passport

UAE’s 5 Economic Benefits of 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.

office buildings

10 Factors of Dubai as the Best Financial Center 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

Partnerships in the Energy Sector Achieve Reliability of Supply

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 Takes Leadership in Islamic Finance 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

UAE has a Healthy Economic Environment to Face 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.