Thursday , May 23 2019

DSOA roadshow to target Indian tech firms eyeing Middle East expansion

Dubai / Emirates Business

Dubai Silicon Oasis Authority (DSOA), the regulatory body for Dubai Silicon Oasis, an integrated free zone technology park, announced its participation in a four-day roadshow in India during last week of April.
Organised by DSOA, in partnership with the Confederation of Indian Industry (CII), the high-level promotional event will serve as a platform for DSOA to discuss current investment opportunities with Indian investors, managers, business and management consultants, entrepreneurs, chartered accountants and industry experts.
Dr Juma Al Matrooshi, Deputy CEO for Operations and Client Affairs at DSOA, said: “Today, India is the largest trade partner of the UAE, and bilateral trade is on track to exceed $100 billion by 2020. As part of its visit, the DSOA delegation to India aims to strengthen cooperation, exchange experiences with local Indian companies, and present the new investment opportunities as well as the unique services and facilities DSOA offers foreign companies.”

The roadshow will visit Bangalore on April 25 and 26, and New Delhi on April 29 and 30. The DSOA trade mission will hold a half-day conference on the first day in each city to introduce Dubai and DSO, update the audience on the latest statistics on FDI growth in the emirate, and present case studies of successful entrepreneurs that have benefited from the free zone’s conducive environment.
On day two in each city, the delegation will attend B2B meetings with key decision makers representing businesses that are looking to expand into the Mena region. In addition, it will visit the offices of leading technology companies and government bodies with the aim of boosting economic relations between the UAE and India.
The delegates will outline the procedures for setting up a business at DSO, and provide a general overview of the growth prospects and benefits that operating from the integrated hi-tech park brings.
Transforming Dubai into the smartest city in the world
Furthermore, the DSOA trade mission will showcase its landmark project, Silicon Park, the first integrated smart city in Dubai that sets a new global benchmark for smart technology solutions. Scheduled for handover in Q2 2019, Silicon Park will comprise 71,000 square meters of office space, 25,000 square meters of commercial space, and 46,000 square meters of residential area. The community will feature a host of value-added contemporary lifestyle facilities, such as restaurants, cafés, fitness centers, running tracks and cycling trails, a shopping center, and an underground parking that can accommodate more than 2,500 cars.
Dr Juma Al Matrooshi, Deputy CEO for Operations and Client Affairs at DSOA, said: “Today, India is the largest trade partner of the UAE, and bilateral trade is on track to exceed $100 billion by 2020. As part of its visit, the DSOA delegation to India aims to strengthen cooperation, exchange experiences with local Indian companies, and present the new investment opportunities as well as the unique services and facilities DSOA offers foreign companies.”
Al Matrooshi added: “Through a clear understanding of diverse markets – both within India and elsewhere around the globe – DSOA endeavors to provide startups with access to world-class infrastructure and allied services to help them establish a significant presence in the GCC region, and expand to the wider Middle East region.”
Advantages of DSOA
All companies registered with DSOA benefit from the advanced facilities and the prime location of its integrated technology hub that have made it the preferred choice of investors setting up business in the UAE. DSO also offers a range of multi-use warehousing and manufacturing facilities, executive offices, and land for industrial development.
As part of a free zone, investors also have various licensing options, ranging from trade and service licenses to industrial licenses. In addition, they have access to all the elements a business needs to develop and thrive, including 100 percent foreign ownership, 100 percent repatriation of capital, among many other value added proposition.
A fast-growing free zone
DSOA ended the fiscal year 2018 recording AED576.9 million in revenue while achieving a 42.1 percent increase in net profit. The free zone is currently home to 2,620 companies of varying sizes and their 40,000 employees. Eighty-one percent of these companies specialize in technology, while 19 percent focus on commercial services and other service sectors.
A wholly owned entity of the government of Dubai, DSO operates as a free zone technology park for large enterprises as well as medium and small companies looking to set up their offices in Dubai.

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