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FSS 2020 International Conference “Dubai International Financial Centre” An Overview, June 2007. Why Dubai?. Political and Economic stability Proactive government policies aimed at economic diversification and liberalization Full government support for new global initiatives

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slide1

FSS 2020 International Conference

“Dubai International Financial Centre”

An Overview, June 2007

why dubai
Why Dubai?
  • Political and Economic stability
    • Proactive government policies aimed at economic diversification and liberalization
    • Full government support for new global initiatives
  • Business Centric
    • Recognized as a regional hub with a successful and credible track record
    • No direct taxes on corporate profits/personal income
    • 100% repatriation of capital and profit
    • Diversely skilled, well educated, multi cultural & multi lingual workforce
    • Modern Infrastructure in accordance with the most efficient international standards. Investment in infrastructure has resulted in lower cost of doing business, logistics and delivery of services.
    • Modern telecommunication networks and highest internet penetration and utilization rates in the MENA region
    • A destination of choice for FDI with over 150 multi-national companies of the Global 500, including the Top 10 have an established presence in Dubai.
slide3

Dubai Strategic Plan 2015 – Horizon 1

Horizon 3

Dubai 2015

“Seed investments for future competencies”

Higher impact on Knowledge Economy

  • Education
  • Emerging Sectors
  • Biotech
  • Nanotech
  • R & D

Horizon 2

“Apply core competencies to new areas”

  • Technology
  • Enabled services
  • Telecom
  • Media
  • IT
  • Energy
  • Healthcare
  • Financial

Horizon 1

“Do what we do best, better”

Trade

Logistics

Transportation

Tourism

Lower impact on Knowledge Economy

Long Term Impact

Short Term Impact

why dubai4
Why Dubai?
  • Excellent Global Connectivity
    • World’s third largest active re-export hub after Singapore & Hong Kong
    • Jebel Ali is the world’s largest man-made port, home to 5,500 companies from over 120 countries
    • Dubai Ports ranked as 9th Top Container Port Worldwide servicing more than 120 shipping lines with 7.62 million TEUs handled in 2005.
    • Dubai Airport connecting 113 airlines and serving over 194 destinations In 2006 airport traffic hit 28.7 million passengers; expected to grow to 60 million by 2010

Source: Dubai International Airport, Department of Civil Aviation Dubai, DP World

why dubai5
Why Dubai?
  • Strategic central location
  • Favourable tax structure
  • Competitive business environment
  • Quality of life
  • Pro-business government
  • Language skills
  • Dynamic business environment
  • Flexibility labour market
  • Advantageous time zone
  • World-class Infrastructure
  • Proximity to existing operation/production site

Dubai is a preferred location for regional and global HQs of many transnational and multinational corporations.

Dubai ranks strong on all relocation measures.

slide6

Dubai Strategic Plan 2015 - Horizon 2

Horizon 3

Dubai 2015

“Seed investments for future competencies”

Higher impact on Knowledge Economy

  • Education
  • Emerging Sectors
  • Biotech
  • Nanotech
  • R & D

Horizon 2

“Apply core competencies to new areas”

  • Technology
  • Enabled services
  • Telecom
  • Media
  • IT
  • Energy
  • Healthcare
  • Financial

Horizon 1

“Do what we do best, better”

Trade

Logistics

Transportation

Tourism

Lower impact on Knowledge Economy

Long Term Impact

Short Term Impact

slide8

Dubai Strategic Plan 2015 - Horizon 3

Horizon 3

Dubai 2015

“Seed investments for future competencies”

Higher impact on Knowledge Economy

  • Education
  • Emerging Sectors
  • Biotech
  • Nanotech
  • R & D

Horizon 2

“Apply core competencies to new areas”

  • Technology
  • Enabled services
  • Telecom
  • Media
  • IT
  • Energy
  • Healthcare
  • Financial

Horizon 1

“Do what we do best, better”

Trade

Logistics

Transportation

Tourism

Lower impact on Knowledge Economy

Long Term Impact

Short Term Impact

dubai 2015 strategy highlights
Dubai 2015: Strategy Highlights
  • Economic Development Aims:
  • Sustain a GDP growth rate of 11% per annum
  • Achieve a GDP per capita of USD 44,000
  • Increase productivity by 4% per annum
  • Move existing sectors of strength to new frontiers, both domestically and internationally
difc region a favourable economic environment
DIFC Region - A Favourable Economic Environment
  • 42 countries spanning the Middle East, North & Eastern Africa, the Caspian and the Subcontinent
  • Population of 2.2 billion people (2005)
  • US$2.3 trillion combined GDP (2005)1
  • Financial wealth of high net worth individuals in the Middle East region is estimated to be growing at 19.7%, surpassing the pace of growth of that in North America, Europe and Asia Pacific.2
  • Regional wealth invested abroad: $1.8 trillion
  • DIFC Region Total Exports > US$1 trillion (2006)
  • DIFC Region Total Imports > US$850 billion (2006)1

1 Source: EIU Data

2 Source: Merrill Lynch Capgemini World Wealth Report 2006

a window to regional opportunities
A Window to Regional Opportunities…
  • High oil prices, increased government spending and abundant liquidity have generated an investment and consumption boom that is stimulating growth in the region.
  • Regional governments pursuing diversification strategies, adopting economic reforms, state divestment & privatisation plans, resulting in attractive prospects across a variety of sectors.

Meed Projects. Data as of May 24, 2006

difc structure

Office of the President of the DIFC

headed by DIFC Governor

(Dr. Omar Bin Sulaiman)

Dubai International Financial

Centre Judicial Authority

(DIFC Courts)

Dubai International

Financial Centre Authority

(DIFC Authority)

Dubai Financial Services

Authority (DFSA)

DIFC Investments

Registrar of Security

Registrar of Companies

Hawkamah

Corporate Governance

Institute (CGI)

Dubai International

Financial Exchange Limited

(DIFX)

DIFC- Structure
slide14

DIFC- Value Proposition

A Clear & Transparent

Legislation

DFSA: World Class

Regulations

DIFC Courts:

Independent

Judicial System

A dedicated financial

services cluster

DIFX:

Liquid & Transparent

International Exchange

Hawkamah Institute for

Corporate Governance

Window to a wealth

of opportunities

DIFC Education

Strategy:

Access to Talent

DIFC Resource Centre:

Business Support

Services

sectors of focus
Sectors of Focus
  • Banking Services
  • (Investment Banking, Corporate Banking & Private Banking)
  • Capital Markets
  • (Equity, Debt Instruments, Derivatives and Commodity Trading)
  • Asset Management & Fund Registration
  • Islamic Finance
  • Insurance & Reinsurance
  • Business Processing Operations
  • Ancillary Services
a liquid transparent international exchange

 Tokyo

Sydney

A Liquid & Transparent International Exchange

International

Issuers seeking

Regional Investors

Regional Investors

seeking International

Investments

A Platform for…

Regional Issuers

seeking International

Investors

International

Investors seeking

Regional Investments

Liquidity secured through regional and international liquidity providers and market makers

difc achievements

Insurance

Broking & Mgmt

Re-Insurance

Islamic Finance

Asset Mgmt &

Fund Registration

Banking

Services

Zurich

AIG

Alico

JLT Risk Solutions

Takaful Re

Alliance Re

Scottish Re

Injazat

Crescent Standard

Arcap Inssef

Unicorn Inv. Bank

Amanah Fin. Ser.

SEDCO

Ansbacher

SHUAA Capital

Franklin Templeton

Mellon Global Invs.

Merrill Lynch

EFG Hermes

Deutsche Bank

Credit Suisse

HSBC

Standard Chartered

Barclays Bank

Citigroup

Non-Regulated

ASPs

Bloomberg

IFC

SWIFT

Dubai Int’l Capital

Moody’s

Schlumberger

TOTAL=352

Al Tamimi & Co.

KPMG

Grant Thornton

Clifford Chance

Allen & Overy

Linklaters

DIFC Achievements

Data as of January 4th 2007

a strong ramp up of members
A Strong Ramp Up of Members…

for more information please refer to www.difx.ae

slide19

1990

DIFC

difc district

Central Park

Park Boulevard

Central District

Gate Boulevard

Park Avenue

Gate District

Gate Village District

DIFC District
difc population potential
DIFC Population Potential

Data based on Internal estimates

a cosmopolitan district
A Cosmopolitan District
  • A self-contained ultra-modern financial district, housing offices, serviced apartments, hotels, shops and restaurants.
  • 4 million square feet of ultra-modern prime office space, designed to meet, and exceed, the demands of the world’s most sophisticated international financial institutions.
  • 32,698 underground car parking spaces and an automated transit system which will circumnavigate the entire district.
  • World-class infrastructure with access to an excellent and sophisticated telecommunication infrastructure, facilitating easy communication with U.S., Europe and Asia.
  • Locating in a dedicated financial services hub with access to reputable professional services and operational support firms, and in close physical proximity to a wealth of business opportunities.