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  • 25 Nov 2021 09:34 | Anonymous member (Administrator)

    On the 8th of November, 2021, Skyne was invited to the awards ceremony at the Address Fountain Views Hotel. Brand owners, packaging converters and manufacturers met to recognise and honour the best in quality, design, innovation and sustainability from the regional packaging industry. Skyne took home an award in Packaging Design and Innovation, in the Plastics in Packaging: Flexibles sub-category.

    Packaging MEA is the first and only technology magazine for the Middle East and Africa packaging industry. The magazine consistently delivers stimulating insights and opinions from authoritative industry figures, primarily professionals in the MEA region and members of the wider global packaging fraternity.

     READ MORE

  • 20 Nov 2021 09:24 | Anonymous member (Administrator)

    Virtual licensing incorporates a number of economic activities in thirteen (13) sectors, namely agriculture, industry, repair, works in procurement, maintenance and installation, retail, transport and service business, leasing services, health management and organization, entertainment and service business support, wholesale and import and export business, subject to local taxes not exceeding AED 1000, with all additional federal taxes payable based on the type of business and other legalities involved at the time of filing. The foreign investor can apply for a license in any of these economic sectors and have 100% ownership by choosing any of the two approved legal forms that is, Limited Liability Company (LLC) or Sole Proprietorship LLC.


    Overall, this initiative contributes to the commercial and service competitiveness of the Emirate of Abu Dhabi. It improves the ease of doing business coupled with foreign capital and cash flows. In addition to this, the aforesaid objective is in consonance with the ten principles of the 50th plan of the UAE which focuses on building the most active and vibrant economy worldwide.

    Virtual licensing does not require obtaining prior authorizations from relevant authorities and focuses on granting a business license to individuals or legal entities resident outside the country to encourage them to conduct business in the Emirate of Abu Dhabi.

    Further, Mr. Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development emphasized on the Government’s efforts to attract Foreign Direct Investments. This is reflected in the ease of licensing procedures for this new virtual license that is, facilitation of economic activity licensing procedures and requirements, regardless of investor’s location and non-residency requirements which shall be met before the issuance of this license.

    The aforesaid initiative was announced by the ADDED during its participation in the Abu Dhabi Government pavilion for the 41st session of the GITEX Global held in Dubai this year, under the auspices of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai.

    The Abu Dhabi Department of Economic Development (ADDED) as a part of its recent cross-border digital trade initiative has launched the “Virtual License” which allows non-resident foreign investors to obtain an economic license for conducting businesses in the Emirate of Abu Dhabi, without any prior residence procedures and from anywhere outside the United Arab Emirates. Abu Dhabi is the second emirate after Dubai to introduce such virtual license mechanism for foreign investors to reap benefits of a lucrative region with low fees and minimal overheads.

    Steps to be taken to issue the virtual license:

    • The investor shall visit the online portal of the Abu Dhabi Business Centre, select “Virtual License”. 
    • The investor shall then choose a name in English, enter his contact details and identify the economic activity to be practiced, fill in the details and then attach a copy of the passport and pay the fees. The virtual license will be then issued.

    Key takeaways from the new virtual license mechanism:

    • Virtual licensing promotes ease of doing business for non-UAE residents without restriction on the location.
    • Individuals or legal entities must not be registered residents of the UAE.
    • The desired business activity must fall under the pre-determined list of economic activities.
    • The type of company must be identified, whether LLC or sole proprietorship.

    Get legal advice relating to Abu Dhabi’s virtual license for non-residential investors with the help of MBG. Their legal advisory team can help navigate you through the dynamic regulatory landscape so that you or your organization do not miss out on potential business opportunities. MBG’s expertise in local laws can ensure that you are in compliance with procedures and timely execution is a core principle that drives our professional delivery. 

    Contact uae@mbgcorp.com, or

    https://www.mbgcorp.com/ae/

  • 11 Nov 2021 10:28 | Anonymous member (Administrator)


    Plug power is one step closer to having an installed electrolyzer capacity of 3GW by 2025 having announced the acquisition of Frames Group in a €85m ($98m) cash and €30m ($35m) earnouts transaction. A strategic move for the New York-based company, the purchase of Frames Group will see the combination of Plug Power stack technology with Frames Group’s system integration capabilities.

    Plug Power to expand electrolyser capacity and European growth with Frames Group acquisition

  • 19 Oct 2021 15:08 | Anonymous member (Administrator)

    On last Oct 10th the Benelux Business Council partnered up with the Netherlands Business Council and MBG Corporation to organize a business breakfast themed "UAE Land of Opportunities". Our Director of Business Development and CEO of RV CONSULTANCY logistics company, Robin Vermaat ,made an overall presentation of the BBC being a business platform to network and exchange experiences about doing business in the region. Mr Joe Harrison, our Vice-Chairman and also joint venture asset manager for Shell (UAE and Iraq), made the closing remarks. He wholeheartedly supported the theme for the day of the UAE as a “land of opportunities” and drew a line right back to Shell’s first activities in the country more than 80 years ago. Initially for oil development, then gas, and now increasingly for decarbonisation opportunities. The UAE is a rich territory both in natural resources but also for human diversity and expertise. He encourages all of us to come to explore Expo 2020, showcasing the profiles of countries from the whole world. View Full article in below link.

    https://www.khaleejtimes.com/business/corporate/uae-ndash-best-place-to-do-business

  • 17 Oct 2021 17:50 | Anonymous member (Administrator)

    On 3 November the Netherlands will hold its national day at Expo 2020 Dubai. King Willem-Alexander and Queen Máxima will attend the official opening of the Dutch Pavilion at the 35th world exhibition. Minister De Bruijn, who is conducting a trade mission for Foreign Trade and Development Cooperation, will also be present.

    https://www.rijksoverheid.nl/actueel/nieuws/2021/10/15/bezoek-koninklijk-paar-dubai-expo

  • 15 Oct 2021 07:08 | Anonymous member (Administrator)

    A $1bn contract for the development of the Guggenheim Abu Dhabi has been awarded by the Department of Culture and Tourism – Abu Dhabi (DCT – Abu Dhabi). The contract has been awarded to a Besix-Trojan joint venture, which is also building the nearby Zayed National Museum.

    The museum is taking shape at Saadiyat island and was designed by Frank Gehry. It is coming up on a 30,000sqm area and will be the largest instalment in the Solomon R. Guggenheim Foundation’s international group of museums, said a report by the Financial Times. It will be the region's pre-eminent museum dedicated to global modern and contemporary art and programming.

    The report noted that Abu Dhabi has earmarked a total of $6bn for the cultural and creative industries over the next five years, as it seeks to boost growth out of the pandemic and prepare for a post-oil future. The museum project is expected to be complete by 2025.

    “Guggenheim Abu Dhabi advances Abu Dhabi’s position as a dynamic centre for arts and culture. The region’s pre-eminent museum of global modern and contemporary art, Guggenheim Abu Dhabi will present an equitable platform for art from all over the world. The museum will also play a civic role through its mission to spark wider interest in global modern and contemporary art, fostering diversity and inclusion in a meaningful cultural exchange. As we move forward with our plans, it is crucial to recognise the impact of this museum in realising our vision for the Emirate’s culture and creative industries,” said Mohamed Khalifa Al Mubarak, chairman of DCT Abu Dhabi.

    The museum will be another addition to the Saadiyat cultural complex on an island off downtown Abu Dhabi, where the Louvre opened a branch in 2017 and the Abrahamic Family House, an interfaith facility comprising a mosque, church and synagogue, is under construction. It is said to be part of a larger complex of arts and cultural institutions on Saadiyat Island with its gallery spaces spread across four levels linked by glass bridges, with a central atrium at its core.

    Richard Armstrong, director at the Solomon R. Guggenheim Museum and Foundation added, “Today’s announcement represents a significant milestone in the realisation of the Guggenheim Abu Dhabi. Housed in Frank Gehry’s distinctive building, the museum will be home to an expansive and evolving collection of artworks that advance multiple perspectives on the global histories of modern and contemporary art, with a particular focus on art from West Asia, North Africa, and South Asia.”

    Frank Gehry concluded, “It is truly thrilling to see this project enter into this new phase. I am immensely proud to work closely with our partners, DCT Abu Dhabi and the Solomon R Guggenheim Foundation, to create a home for their ground-breaking cultural programme. I hope that this building is embraced by the people of the UAE and that this work will endure as a landmark for the country for many years to come.”

    SOURCE: ME CONSTRUCTION NEWS Oct 4th 20201  https://meconstructionnews.com/49575/1bn-contract-awarded-for-the-development-of-the-guggenheim-abu-dhabi

  • 19 May 2021 09:44 | Anonymous member (Administrator)

    ABU DHABI, 19th May, 2021 (WAM) -- UAE Ministry of Economy announced that the amended Commercial Companies Law will come into effect on June 1st, 2021, allowing foreign investors and entrepreneurs to establish and fully own onshore companies.

    The UAE government has recently adopted an amendment to the Commercial Companies Law allowing 100 percent foreign ownership of companies.

    Abdulla bin Touq Al Marri, Minister of Economy, said, "The amended Commercial Companies Law aims at boosting the country’s competitive edge and is a part of UAE government efforts to facilitate doing business."

    Bin Touq added that the amendments introduced by the new Commercial Companies Law will boost the UAE’s appeal as an attractive destination for both foreign investors, entrepreneurs and talents. It will further strengthen the country’s position as an international economic centre and encourage the flow of investments to the country’s vital economic sectors.


    Source: WAM

  • 24 Nov 2020 10:17 | Anonymous member (Administrator)

    President signs new Decree that updates 2015 Commercial Companies Law.

    Dubai: The UAE has scrapped the need to have UAE nationals as sponsors, thus allowing expatriate investors 100 per cent ownership with effect from December 1, 2020. The move is in line with a federal law issued by President His Highness Sheikh Khalifa Bin Zayed Al Nahyan and which amends Law No. 2 of 2015 on companies and their shareholding.

    The long-awaited 100 per cent ownership by foreign nationals of companies licensed and registered in the UAE is allowed as per Cabinet Resolution No. 16 of 2020. In recent years, individual emirates allowed foreign national owned companies to acquire the remaining stakes on a case by case basis. The latest amendment thus extends the scope of that significantly.

    The new law amended 51 articles and added new ones, mostly focusing on the regulation of provisions of establishing companies with limited liability shareholding. The amendments exempt expatriate investors from the minimum percentage ownership of UAE nationals.

    His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, announced the amendments to the law, noting that the UAE now enjoys a fertile legislative environment for the establishment of businesses in order to enhance the UAE’s competitiveness.


    Image Credit: Gulf News Archive


    SETTING UP A COMMITTEE

    Under article No.10 of the amended law, a committee shall be formed as per a Cabinet decision and will include representatives from relevant agencies. It will deal with proposals to oversee companies engaged in activities of strategic importance. The Cabinet will then issue a decision based on the committee’s recommendations to issue regulations licensing such companies.

    A key update

    As per the Commercial Companies Law, Law No. 2 of 2015, foreign shareholders were limited to owning a maximum 49 per cent in a 'limited liability company' (LLC) operating as an onshore UAE business. This requires an Emirati individual or 100 per cent Emirati-owned company to hold the balance 51 per cent share as a local sponsor.

    The amended law allows natural and legal persons to establish companies without the need for a specific nationality. The law, however, will not apply to some companies that are excluded based on decisions by the Cabinet and those that are either wholly-owned by federal or local governments or their subsidiaries. 

    KEY INITIATIVES

    • The new amendments allow non-joint stock companies to engage in investment activities on behalf of third-parties if laws governing these activities allow it.
    • The amendments included some provisions for organising the business of a company with limited liability and also one-person entities.

    Minister welcomes move
    Abdullah bin Touq Al Marri, UAE Minister of Economy, said the new decree is an additional step in a series of efforts that the UAE is taking to raise the readiness of the national economy and prepare for the future by developing commercial and investment opportunities and increasing the competitiveness of the business environment, in line with the rapid economic changes and developments taking place in the global economy.

    Source: Gulfnews
  • 18 Oct 2020 16:17 | Anonymous member (Administrator)

    Summary

    • A Consortium of BESIX and Jan De Nul Group has been awarded part of the expansion plans of the Port of Fujairah, in the eponymous emirate of the UAE.
    • The design-and-build Dibba Bulk Handling Terminal Project includes dredging and constructing breakwaters, a quay wall and port infrastructure.
    • It was awarded by the Port of Fujairah (PoF), the world's second largest bunkering hub, to expand and upgrade its bulk-handling capacity.

    BESIX and Jan De Nul Group are helping to deliver the expansion of the port of Fujairah in Dibba, the second largest city of the emirate of Fujairah in the UAE, located along the Gulf of Oman. The works for the Dibba Bulk Handling Terminal Project were awarded to the consortium of Six Construct, BESIX’s entity in the Middle East, and Jan De Nul Group by the Port of Fujairah (PoF), one of the world’s key oil storage centres and the second-largest ship-bunkering hub in the world.

    The design-and-build contract consists of dredging the navigation channel and port basin, reclamation and shore protection, as well as constructing breakwaters, a 765 m long quay wall, foundations for ship loader rails, port infrastructure and creating utilities and aids to navigation. The fishing harbour will be relocated in the process.

    The expansion plans are part of PoF’s strategy to increase the port’s bulk handling capacity and operational efficiency, as well as improve the quality of its service, which is considered among the best in the world.

    The consortium’s approach to optimise the design by providing ‘value engineering’, along with the newly-established Central Marine Support department, presented a strong, competitive solution to the client.

    Yasser Laroussi Ben Asker, Operations Manager Marine Works Middle East at Six Construct: “Six Construct is very pleased and honoured to partner with the Port of Fujairah, as part of our decades-long history in the Emirate. The history of Six Construct and the port of Fujairah are very connected. BESIX’s entity in the Middle East helped on several occasions to extend the port infrastructure. We share the same values in aspiring to create long-term partnerships to support the Emirate’s development goals, and we are investing in a long and prosperous relationship.”
    Stefan Moens, Area Manager Middle East at Jan De Nul Group:We build on many years of experience in the U.A.E. and this award confirms the Port of Fujairah’s satisfaction with our previous port expansion projects executed in the region. We are very proud to be appointed as a trusted partner for the delivery of these works, moreover, in consortium with BESIX, another company with Belgian roots.”

    The contract is valued at 371 million AED (90.4 million EUR). Works will be carried out over 19 months.

    About BESIX Group

    Six Construct is part of BESIX Group, a Belgian based multidisciplinary company with a leading position in construction, property development and concessions. The group excels in creating sustainable solutions for a better world in 25 countries and on 5 continents. Famous for iconic projects such as Dubai’s Burj Khalifa, BESIX Group also specializes in the construction of marine facilities, such as breakwaters, jetties, quay walls, shore protection, canals, locks and flood barriers. More info on www.besix.com

    About Jan De Nul Group

    Design. Build. Connect. Jan De Nul Group shapes water and land. Worldwide. From complex services to the offshore energy and energy transition sector, over large dredging and defence works on the edge of water and land, to challenging civil and environmental works. Well integrated competences and investments lead to creative, sustainable and innovative solutions. In this way Jan De Nul Group delivers results that produce satisfied customers. Today, but also tomorrow. – www.jandenul.com

  • 17 Sep 2020 08:55 | Anonymous member (Administrator)

    Abu Dhabi, 14 Sept 2020: Skyne, the Dutch-founded international branding and design consultancy, has expanded its company to open an office in Abu Dhabi’s media hub, twofour54.
    Skyne’s Abu Dhabi office will be the fourth in the company’s portfolio, following the opening of hubs in Netherlands, Dubai and Saudia Arabia. Skyne’s head office opened in Dubai in 2008 and the company has since established a solid roster of local and international clients.

    Dennis de Rond, Founder of Skyne, said of the company’s expansion: “We strongly believe that Abu Dhabi is going through massive transformation and growth plans for the future. Skyne sees plenty of opportunities to partner with twofour54 and Abu Dhabi-based companies on their exciting projects that are born out of creative visions with a human-centric focus and spirit of innovation. Skyne definitely aspires to be part of this journey across various
    sectors. "We’re proud to be continuing our expansion during this globally challenging time and hope that our announcement sends a message of hope, optimism and resilience to business owners in the UAE and around the world.”

    Katrina Anderson, Director of Commercial Services at twofour54, said: “We are consistently seeing that Abu Dhabi is an ideal base for companies looking to expand further across the Middle East and North Africa. For media firms, there are huge opportunities in the region thanks to its innovative and pioneering new companies. We are delighted that Skyne has chosen twofour54 as its next hub and they join some of the region’s most dynamic creative leaders who value our collaborative ecosystem and industry-leading facilities and services.”

    Skyne opened their new branch with support from the Dutch Embassy. H.E. Lody Embrechts, Ambassador of the Kingdom of the Netherlands to the UAE, said: “Over the years, Skyne has established itself as one of the strategic
    branding and design agencies in Dubai. The Embassy of the Kingdom of the Netherlands to the UAE is delighted to experience the opening of the Skyne office at twofour54 in Abu Dhabi. Skyne stands for creativity, innovation, pragmatism and resilience - Dutch traits we are happy to bring to the table. We look forward to supporting the agency’s ambitions and appreciate its contribution to the strong UAE-Netherlands friendship.”

    Skyne has advised more than 150 companies in the MENA region including Abu Dhabi Terminals, Shurooq, Sharjah Media City, Dubai Chamber of Commerce and industry, Deloitte and many more.


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