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SBC invites entrepreneurs to invest in the country

Recently, the Council held its general meeting to discuss the various business opportunities available in the UAE and the potentials of growth of companies from Singapore as well as support Singapore businessmen and professionals to set up business estabilshments in the UAE.

According to Noor Imambeck, president, SBC, “The main objective of the meeting was to discuss how to provide advisory and complementary support services to UAE, Middle East and Singapore business and professionals to foster communications and networking between the respective business counterparts with a view to ultimately improve bilateral trae, investments and strategic alliances.

The SBC is operating under the patronage and guidance of the Dubai Chamber of Commerce and Industry and membership is open to all Singapore companies, individuals and businessmen or professionals having business relations with Singapore counterparts.

Singapore and UAE trade relations is experiencing growth and in 2003-04, statistics reveal that the total value of trade was $5.8 billion, which is an increase of 16.5 per cent compared to 2002. This makes UAE the 18th overall trading partner and 17th import source and export market for Singapore.

Shabbir Hassabbhai, honorary chairman of SBC, says, “With the surge of business and investment links, tremendous economic growth combined with the pragmatic policies instituted by the leaders of the UAE, many Singaporeans have seized the opportunity choosing to locate their offices in UAE, so that they can forge further by expanding into the AGCC region and beyond.’’

At present, entrepreneurs from Singapore are involved in various business in the UAE, which includes warehousing and distribution, ship repair and maintenance, banking, healthcare, manufacturing, consumer electronics and textiles and port.