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UAE:Dubai Chamber Signs Cooperation Agreement with Tel Aviv Chamber of Commerce

25/09/202025/09/2020
by Benjamin Filaferro

Dubai’s Chamber of Commerce and Industry has signed a strategic cooperation agreement with Tel Aviv’s Chamber of Commerce who were represented by the Federation of Israeli Chambers of Commerce. The aim of the agreement is to explore business opportunities and boost bilateral cooperation following the signing of the peace treaty between the UAE and Israel. Under the agreement the two bodies will cooperate on conducting economic studies on bilateral markets, investment opportunities, growth prospects, and partnerships which can form the basis for bilateral cooperation in various economic sectors. They will also cooperate on organising virtual events on growth opportunities and cooperation between the business communities in both countries and visits of economic delegations. They will also organise joint business forums and cooperate in the fields of entrepreneurship and emerging enterprises.

Weekly Spotlight

Abu Dhabi: New Public Private Partnership Regulations Issued

25/09/202025/09/2020
by Benjamin Filaferro

Abu Dhabi’s Investment Office has issued new Public-private Partnership Procurement Regulations. They have also published a Partnership Projects Guidebook to support greater cooperation between the private and public sectors in the Emirate.
The framework is consistent with international best practices to support greater private sector investment in the procurement and delivery of public sector infrastructure assets and services across Abu Dhabi.
The new regulations have been issued in line with the Emirate’s 2019 Public-Private Partnership Law (Abu Dhabi Law No. 2/2019). They provide greater clarity to the private sector in terms of engaging with the Government during the procurement and development phase of any major PPP project.
The Regulations have been issued following an Abu Dhabi Government announcement earlier this year to procure approximately 10 billion AED worth of infrastructure partnership projects across various sectors, including education, transport and municipality. The announcement was made as part of Ghadan 21 which is aimed at driving the Emirate’s development by investing in business, innovation and people.
The Office’s Infrastructure Partnerships Unit will be responsible for implementing the Regulations. They will also work with Government departments to identify, develop and procure infrastructure partnership projects.
The Partnership Projects Guidebook, includes a practical and comprehensive overview of the processes and procedures for developing, procuring and managing partnership projects in Abu Dhabi to support public and private sector entities deliver projects transparently and in a timely and efficient way.
It is aimed at improving the ease of doing business with the public sector by providing developers, investors and financiers with a single, trusted source of information when assessing, bidding and executing projects. It covers procurement procedures, as well as best practice approaches to promote effective partnerships between Government and private sector stakeholders.
Earlier this year, the Office enabled its first partnership project under the new Partnership Projects framework. The Noor Abu Dhabi Street Lighting PPP project involved the design, supply, retrofitting, financing, operating and maintenance of approximately 43,000 luminaires with power-saving state-of-the-art sustainable LED-based technology. It is also expected to save enough energy to power 8,000 homes.

News developments

UAE: New Categories of Movable Assets Announced

19/09/202019/09/2020
by Benjamin Filaferro

The UAE’s Finance Ministry has announced new categories of movable assets. The announcement says there are nine types of funds and movable assets which can be used as collateral for loans and bank financing, including fish, bees and agricultural crops. It also includes equipment and work tools, goods intended for sale or lease and raw materials and goods being manufactured or altered.

News developments

UAE:Dubai Diamond Exchange Signs Cooperation Agreement with Israel Diamond Exchange

19/09/202019/09/2020
by Benjamin Filaferro

Dubai’s Diamond Exchange has signed a cooperation agreement with their Israeli counterpart, the Israel Diamond Exchange. It aims to promote cooperation and dialogue between the two exchanges and will see the Israel Diamond Exchange set up a representative office in Dubai, UAE while the Dubai Diamond Exchange will open a sales office in the Israel Diamond Exchange’s headquarters in Israel. The two exchanges will share knowledge, expertise and experience, promote bilateral trade opportunities and partner on exhibitions, visits and conferences to boost regional trade and support the growth of the global diamond industry.

News developments

UAE:Abu Dhabi Global Market Launches Public Consultation on Proposed Electronic Transactions Regulations

19/09/202019/09/2020
by Benjamin Filaferro

The Abu Dhabi Global Market have announced they have launched a public consultation paper on proposed Electronic Transactions Regulations. The consultation ends on 14 October 2020. The aim of the Regulations is to clarify e-signatures are enforceable and electronic records have an equivalent impact to physical copies. They highlight references to ‘writing’ in legislation include electronic form and therefore confirm the validity of electronic contracts. It comes as businesses and consumers are adapting to electronic dealings, including online contracting and e-signatures. Legal concepts have traditionally been based on the existence of a tangible or physical medium. Concepts like document, an ‘original’ or a ‘signature’ still remain relevant in legislation and need to be considered in today’s ever-changing digital environment, particularly when taking the impact of Coronavirus into account.

News developments

UAE: Influencers Must be Authorised to Run Advertisements

14/09/202014/09/2020
by Benjamin Filaferro

The UAE’s National Media Council has clarified influencers must be authorised to run advertisements on their social media sites. They must be approved by the Council. This is in line with regulations issued in 2017 by the country’s Cabinet. Advertisements involving health or pharmaceutical products and medical equipment will have to be approved by the Health and Prevention Ministry. All information in the advertisements has to be correct and there should be no errors in the names or specifications about the products. Advertisements must not be vague, ambiguous or unclear; contain false or misleading claims, use fabricated images, exaggerate the product or service being advertised or cause confusion between names, products or activities. The advertisement’s identity should be transparently defined and use clear and unconfusing language. Firms and individuals who don’t comply with the rules will be fined.

News developments

Dubai: International Financial Centre Expands Prescribed Company Regime

14/09/202014/09/2020
by Benjamin Filaferro

The Dubai International Financial Centre has announced it has expanded the applicant criteria for its Prescribed Companies regime. The expanded regime is aimed at attracting companies to establish in the DIFC in a way which aligns with international best practices. The expanded Prescribed Company regime is open to all DIFC non-retail companies, along with their shareholders, Ultimate Beneficiary Owners and affiliates. It can now also be used by family businesses with a large presence in the UAE.

News developments

Abu Dhabi: Hotels Must Provide Kosher Food

14/09/202014/09/2020
by Benjamin Filaferro

The local authorities in Abu Dhabi, have said all the hotels there will have to provide kosher food. The announcement was made ahead of the anticipated arrival of Israeli tourists. All Abu Dhabi hotels also have to get a kosher certificate which is a document proving the food is produced according to Jewish law and allocate an area in all kitchens to prepare food intended for Jewish tourists.

Weekly Spotlight

UAE: Abu Dhabi Digital Supplier Portal Launched

04/09/202004/09/2020
by Benjamin Filaferro

Abu Dhabi’s Chamber of Commerce and Industry has announced it has launched a Digital Supplier Portal. It will allow quick access to a package of smart services, which have been especially designed to meet the needs and requirements of suppliers, including supplier registration, purchase orders, bids offered and contracts and invoices. Suppliers will be able to access a package of related smart services and learn about the latest related developments easily.

Weekly Spotlight

UAE: Federal Law No. 8/1980 Concerning The Regulation Of Labour Relation

04/09/202004/09/2020
by Benjamin Filaferro

The UAE’s President has approved amendments to the country’s Labour Law (Federal Law No. 8/1980).
Under the amendments, private sector employees will be able to get paid parental leave of up to five days to care for their children. Mothers and fathers will be able to get the leave from when the child is born to when they are six months’ old.
It is the first time this type of leave has been given to male private sector employees in the region. Previously, companies could choose to give paid parental leave to fathers. Mothers will be given an extra five days of paid leave as well.
Women working in the private sector can get 45 day’s maternity leave on full pay, provided they have served continuously for at least a year. At the end of the maternity leave, the new mum can extend their leave without pay for up to 10 days. Maternity leave is paid with half pay if a year of service has not been completed.
There is uncertainty over whether or not Government employees can benefit in the same way. Male public sector employees currently get three days leave following the birth of a child. Women working in the country’s public sector get 90 day’s paid leave. Depending on the Emirate, more time in unpaid leave is typically given. For the first 18 months after birth, women are given two paid rest intervals a day. However, more than 30 minutes cannot be spent nursing the baby.
It is the latest move by the UAE authorities to keep female employees. In 2018, a law ensuring women were paid an equal wage to their male colleagues was approved by the country’s Cabinet.