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DEC, BCG ink deal for strategic cooperation
The MoU will provide support for strategic cooperation between the two parties in different fields related to economic, financial and regulatory topics, and to encourage the exchange of advice, knowledge, and data.
Hani Al Hamli says the DEC and BCG can jointly support the government of Dubai. — Supplied photo
Dubai: The Dubai Economic Council, or DEC, has signed a memorandum of understanding with Boston Consulting Group, or BCG, the world’s leading advisor on business strategy.
The MoU will provide support for strategic cooperation between the two parties in different fields related to economic, financial and regulatory topics, and to encourage the exchange of advice, knowledge, and data.
One principal initiative under the MoU is to develop a framework that will be considered beneficial by family businesses of all sizes to achieve their family and business objectives, and to further contribute to the growing UAE economy.
The MoU was signed by Hani Al Hamli, secretary-general of the DEC, and Joerg Hildebrandt, head of BCG Middle East, as well as Marc Dahlke, head of BCG’s family business operations in the Middle East.
The signing was also attended by Prof Abdulrazak Al Faris, the DEC’s chief economic counselor, and the executive team of the DEC.
Al Hamli said: “We as the DEC work on collaborating with the crème-de-la-crème of expertise such as BCG. They are the world’s leading advisor on business strategy with clients in the private, public, and not-for-profit sectors. BCG’s approach combines deep insight into the dynamics of companies and markets.”
“We are happy to collaborate with BCG and look forward to see the outcomes of MoU we’ve signed, and how we can jointly support the government of Dubai in this new era in a direction that serves the newly launched Dubai Plan 2021.”
Hildebrandt said: “The DEC is a vital player in advancing Dubai’s economic agenda through its sound recommendations which are built on contributions from the public and private sectors, as well as from world-renowned academics. BCG is delighted to be a selected thought partner for DEC.”
Dahlke said: “Looking at the tremendous contribution of family businesses to GCC economies, and to UAE economy in particular, we are thrilled to work with the DEC to help developing and optimising local family business organisations where needed.”
Dahlke added: “The reputable family business network GCC plays a key role in the area of succession planning, family governance and next generation development already. Beyond that, we experience high demand for optimizing corporate structures and governance, portfolios and expansion plans, be it through IPO, M&A, joint ventures, asset swaps, etc. We are proud to, jointly with the DEC and others, contribute to a framework that will be considered beneficial by family businesses of all sizes.”
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