Daouda Coulibaly-Managing Director-Société Ivoirienne de Banque

Going south: Building connections with a number of African economies

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  With an emphasis on diversifying its commercial partners, Morocco’s African strategy has sought to raise the kingdom’s political and economic profile, and extending its clout across the continent. Over the past decade, Moroccan investments in several African countries have been channelled towards financial services, industrial production and construction. Much of this economic drive has had direct political and institutional support from King Mohammed VI, who between the start of his reign in 2001 and late 2017 has taken over 50 trips to 29 different African countries. This hands-on approach has had palpable effects, translating into trade accords, cooperation agreements, and opening the door for

Pham Hong Hai-CEO-HSBC Vietnam

Waste not: International financing supports the modernisation of waste- management infrastructure and practices

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  The kingdom is taking steps to improve the collection, processing and valorisation of waste. During the COP22 UN Conference on Climate Change, which took place in Marrakech in November 2016, the government signed funding agreements with the Dutch Development Bank (FMO) and the European Investment Bank (EIB) to enhance solid waste management. While progress has been slow, areas with potential for development include controlled landfills, sorting and valorisation of waste through recycling, composting and energy generation. Nevertheless, the road ahead has various challenges, including

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Save the data: EU regulations on data protection are set to affect Moroccan subcontractors, making full compliance important

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  In Morocco, the collection and processing of personal data is regulated by Law No. 09-08 relating to the protection of individuals with regard to the automatic processing of personal data, which was promulgated by Dahir (royal decree) No. 1-09-15 on February 18, 2009. Furthermore, the kingdom’s data protection legal framework is based on the Council of Europe’s Convention No. 108 of January 28, 1981. This came into force in Morocco by virtue of Dahir No. 1-14-150 on August 22, 2014, which enacted Law No.

Sheikh Ahmad Duaij Jaber Al Sabah-Chairman-Commercial Bank of Kuwait

A compelling narrative: Mandatory health coverage reshapes the domestic market

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  The introduction of compulsory health cover in Dubai has been one of the key drivers of demand in the insurance industry in the emirate. The sector is regulated by Dubai Health Authority (DHA), which is working to ensure there is comprehensive cover in place for the 2.46m expatriates who live in the emirate, as well as their dependants and those families with Dubai visas living in other emirates. (cozumelparks.com) Rollout The health insurance programme is tied to the visas issued to residents, and was rolled out with three deadlines for employers. Businesses with a workforce of more than 1000 people were required to comply

Daouda Coulibaly-Managing Director-Société Ivoirienne de Banque

Filling the gaps: Training facilities and programmes unveiled as part of drive to resolve long-standing staffing shortages

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  In late April 2017 Dubai’s Department of Tourism and Commerce Marketing (DTCM), which oversees tourism development in the emirate, announced the establishment of Dubai College of Tourism (DCT). The new institution signalled a major move on the government’s part to address the shortage of well-trained hospitality staff in the emirate. Challenges Even as Dubai’s tourism sector has grown rapidly over the past decade, many hotels, tour operators, retail outlets and other tourism-related or tourism-adjacent industries have struggled to find and retain a high-quality workforce.

Enda Kenny-Prime Minister of IrelandEnda Kenny-Prime Minister of Ireland

Inn demand: Despite economic pressures, lodging capacity is on a significant growth trajectory

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  Dubai’s rise as a major tourist destination and travel hub over the past two decades has been facilitated by large-scale investment in the hospitality and lodging industry. The emirate has taken a leading role not only in the Middle East – where it has long been a popular tourism market – but, increasingly, further afield, where it is seen to be a growing stopover destination. Driving this reputational growth has been a spate of hotel development, with many new properties set to come on-line, such as the Hard Rock Café Hotel Dubai Marina, the Gevora Hotel and the Mandarin Oriental Jumeira Beach, in 2018 alone.

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

In the right direction: Reforms, retrofitting and solar are steps towards cleaner utilities

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  Decades of dramatic growth form the backbone of Dubai’s development, and its leaders wish to see that pattern continue in the future. However, concerted efforts are being made to ensure the impact of that expansion on the environment is minimised. In addition to its plans for rapid adoption of renewable energy generation, the emirate is also busy developing strategies to improve efficiencies in the use of its power and water, with efforts already yielding results. Savings Record In March 2017 the Dubai Energy and Water Authority (DEWA) said that almost Dh1bn ($272m) had been saved over eight years thanks to sensible energy conservation measures

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Expanding local coverage: An increase in the scope of medical offerings is allowing more people to receive treatment domestically

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  As Dubai’s health care sector grows, the range of centres of excellence and specialist treatments available to patients is also expanding. Government-run hospitals are offering citizens treatments that might once have necessitated a lengthy visit to a hospital in Germany, the UK or the US. Meanwhile, hospital expansions and new-builds in the private sector increasingly focus on providing types of care that offer a unique selling point in a crowded and competitive market. Government Hospitals There is already a well-established public health system in

Pham Hong Hai-CEO-HSBC Vietnam

Capital ventures: Recent moves help shore up the emirate’s position as a regional centre for start-ups

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  A leading centre for entrepreneurship in the MENA region, the UAE counted 940 start-ups as of late August 2017, according to Magnitt, a Middle Eastern start-up support service provider and directory. The largest subsegment of this was e-commerce, with 135 listed start-ups. This figure is by far the highest of any country in the Middle East and represents roughly one-quarter of the regional total. While a breakdown of start-ups by emirate is not available, the majority are located in Abu Dhabi and Dubai, due

David Gledhill-CEO-Port of Salalah

Taking off: Rising off-plan sales suggest a rebound in the residential segment

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  At the beginning of 2017 Dubai’s residential real estate market appeared to be in the early stages of an upswing, in large part because of a surge in off-plan sales. While off-plan sales in the emirate increased by 45% quarter-on-quarter (q-o-q) in the first three months of the year, according to UK-based property firm Chestertons, momentum picked up further later in 2017, when the number of off-plan deals grew 86% q-o-q in July-September after a slump in the second quarter. Much of this activity took place in Dubai South, where an enormous amount of construction is currently under way. According to local property analysts