EXPO 2020-Opportunity, Sustainability and Mobility
“Opportunity is like a sunrise, if you are late, you miss it.”
The Expo 2020 is going to be the first event of this magnitude in the Middle East. This marks as the most important chapter in the evolving development of this nation. Therefore, it becomes really futile to say how important will the event be for every individual trying to make a living here in the UAE.
A source from Khaleej times also reads out;
“The organisers of Dubai Expo 2020 have outlined opportunities for small businesses and graduate jobseekers as they seek greater collaboration with the private sector in the UAE.
Measures to support potential suppliers include an exemption from tender bonds and guarantees for SMEs.
“The validity periods for proposals have been cut from 120 days to 60 days for SMEs … [the] payment period for SMEs is 30 days. [There is a] 25 per cent upfront payment for services, 50 per cent upfront for goods. No tender bonds required for SMEs, no guarantees required from SMEs, to not lock out their liquidity,” said Manal Al Bayat, Expo 2020’s vice president of engagement, at an event in Abu Dhabi co-organised by the Australian, French and Canadian business groups, the American Chamber of Commerce and the International Business Women’s Group.
Any company, regardless of its size, and not necessarily located in the UAE, can approach the Expo for contracts by registering on the site esource.expo2020dubai.ae, she said.
“It is for corporates, SMEs, individuals, freelancers, artists. They will be able to see what has already gone out to the market, who has been awarded to, and what is coming out next.”
Ms Al Bayat said meetings are being held with businesses every six weeks for feedback on how to make the Expo a success.
“We look into details and invite industries. We learn from the challenges that you are facing.
“We are looking at what is going to be blowing people’s minds in 2020. In 2185, people will talk about what we deliver now.” Ms Al Bayat also detailed Expo 2020s Collaborative Entrepreneurship initiative.
“Not as CSR, but how can you incorporate an entrepreneur, an SME to be your innovation department, instead of hiring your own team,” she said.
Organisers are also working to ensure a social legacy for the region’s youth from this mega event.
Thinking about this event makes me want to list down some opportunities that may be of interest to all of you, but more importantly, ideas that will help you grow your career.
FOREIGN DIRECT INVESTMENTS
The most essential aspect would be the foreign direct investment coming into the emirates which would result in the opening up of new companies. So, business consultants, get ready and get energized.
Development of International Relation
EXPO 2020 in Dubai will become a new stage in the development of international relations. New doors to the markets of many countries will open. Most importantly, effective trading channels to the markets of Asia and Africa will be established, which will empower to expand the volume of export and import.
CONSTRUCTION & ARCHITECTURE
According to forecasts by international analysts, during the event more than 25 million tourists will visit the United Arab Emirates. It means the construction of new hotel complexes and appropriate tourist infrastructure.
NEW START-UPS & COMPANIES
The tourism, hospitality and healthcare sector will see a natural surge. Setting up a company around this time will make businesses and entrepreneurs compete with a large number of investors. This will result in the hiring of consultants to set up businesses and thus reduce time and money spent on the formation of companies.
Construction is on the high leading up to this event. To support this, Dubai is going to need a solid support system in terms of human resources, consultants, financial analysts, engineers and much more.
The expo will provide access to the most recent and the greatest technological innovations globally, thus creating a demand for these products worldwide.
PRO SERVICE PROVIDERS
During the preparation period for the exhibition, the Emirate’s economy will receive a powerful impetus to stabilization and growth. It is planned to create more than 200,000 new jobs which will result in the benefit of PRO service providers.
Early forecasts say, there is going to be a large influx of people coming into the United Arab Emirates that will directly influence trading in terms of housing, construction material and clothing.
AUDIT & ACCOUNTING FIRMS
The requirement for auditing and accounting firms will increase commencing 2018 due to the government making it mandatory on companies to perform audits.
OIL & GAS SECTOR PARTNERSHIPS
Lastly, Oil and gas sector is one of the un-touched sectors of Dubai. Mostly Arabs enjoy their hold there, but as per the theme of Dubai Expo 2020, even the rulers of Dubai now believe in the interconnection and partnerships. Subsequently, there is sufficient space for new investors to either bring in their technologies and engineers for growth and development in this sector as well.
INNOVATION IMPACT GRANT PROGRAM
The program will award fund upto 100,000US$ per application depending on the maturity and scalability of innovations.The solution or its application must be novel and innovative. It should inspire, capture the world’s imagination and be ready to showcase before or during the expo 2020 Dubai.
It’s not only about providing innovators with access to financing, successful grant applicant will aslo receive the following:
- Networking & Partnership Opportunities
- Marketing & Communications Exposure
- Additional Funding
Full details on application procedure can be found on https://www.expo2020dubai.ae/en/Expo-Live/Innovation#whatWeAreLookingFor
It is therefore safe to say, all those who will expose themselves to these opportunities will be the ones who will come out smiling from such an unmissable opportunity for
“An opportunity missed is an opportunity lost.”
Marketing Head ADAM Global Dubai
ADAM Global Dubai