Always looking for avenues to offer a crucial line of communication between Dubai’s private and public sectors, the Dubai Chamber of Commerce and Industry organised the 2nd Talk Business at Breakfast networking event at its premises on Thursday, April 28.
This time, the Chamber invited H.E. Dr Ahmed Saeed Bin Hazim Al Suwaidi, Director General, Dubai Courts, who provided the representatives of the private sector with an insight into the role of Dubai Courts, especially the setting up of specialized courts including the Commercial Court that facilitates settlement of disputes before being referred to the judicial courts.
In his inaugural speech, H.E. Hamad Buamim, Director General, Dubai Chamber emphasized on the Chamber’s commitment in strengthening the partnership between the public and private sectors stating that since the inception of this Talk Business initiative, the Chamber has been bringing heads of top Government departments face to face with representatives of the private sector.
He said that these two-way conversations keep the representatives of the private sector updated with the latest changes in Governmental policies as well as Dubai’s business environment. These events provide a fitting platform for an exchange of ideas and key issues which ultimately help improve the competitiveness of the business community.
The Director General of the Chamber took the opportunity to highlight the positive indicators coming out of the trade sector as he said that the Chamber members’ March exports registered an upward spiral with 14% increase in the value of exports clocking AED 21.4 billion. He further stressed that these encouraging figures are likely to have a good effect on the investors as well as the overall business environment of the Emirate. He called upon the businesses to take advantage of the successful trend generated by the trading sector which is one of the leading drivers of Dubai’s economy.
Buamim lauded the Chamber’s role in providing mediation and arbitration through its Legal Services Department and the Dubai International Arbitration Centre (DIAC) which together have received 1,440 cases in 2010 showing an 18% increase in comparison to the year 2009. This clearly indicates a rise in the level of awareness and trust by Dubai’s business community in the alternative means of settling trade disputes, he said.
On his part, H.E. Dr Ahmed Saeed Bin Hazim Al Suwaidi, Director General, Dubai Courts, stated that the reputation of Dubai as a sound investment destination in the world remained intact despite the hard times the world was facing recently. In fact, when the whole world was feeling the effects of adversity, the city still attracted new investors due to its business-friendly laws and unconditional Government support extended to the business community.
Al Suwaidi applauded the vision of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai who issued a decree establishing specialized courts, including the Commercial Court in mid-2008, which he said boosted the investor confidence in Dubai as a safe haven for trade and business.
He said, “The success of the Commercial Court in such a short span of time is a tribute to the wise leadership because the court was instrumental in settling a large number of commercial disputes during the trying times witnessed by the world economies.”
Al Suwaidi further stressed that the success of the Commercial Court can be accredited to the concerted efforts of all the employees including the administrative staff led by the distinguished judges who are experts in their field. “We are not resting on our laurels as we have to keep working hard to meet the pace of Dubai’s unprecedented growth seen across all its economic sectors,” he said.
The Talk Business networking meetings organized by Dubai Chamber from time to time helps build strong alliances, open communication channels with key regional and international trade partners and facilitate networking opportunities for the business community while enhancing their competitiveness in the global trading arena.