MoU signed between TECOM and London’s Tech City
Dubai - United Arab Emirates - Wednesday, April 17th 2013 [ME NewsWire]
Sir Edward Lister, the Deputy Mayor of London, has visited the UAE as part of a business delegation seeking to develop closer partnerships and synergies between the UK’s Tech City, a media and technology hub based in East London, and Dubai Internet City (DIC), Dubai Outsource Zone (DOZ) and Dubai Media City (DMC), three of TECOM Investments’ 10 interconnected and industry focused business parks.
The Deputy Mayor was accompanied by Joanna Shields, Chief Executive, Tech City Investment Organisation; David Slater, Director of International Trade & Investment, London & Partners; Glen Manchester, Chief Executive, Thunderhead; Pru Ashby, Head of Partnerships, Tech City Investment Organisation; Ben Gascoigne, Private Secretary to the Mayor; Edward Hobart, Her Majesty’s Consul General to Dubai; and Karen Williams, Deputy Director, UKTI.
Sir Edward Lister and the UK delegation met with Malek Al Malek, Managing Director, DIC and DOZ,and Mohammad Abdullah, Managing Director of DMC. In addition to meeting with senior directors from TECOM, the delegation, which includes a number of leading UK company executives,also took a tour of the facilities and visited companies located in DIC and DMC.
Commenting, Dr Al Rustamani, Group CEO of TECOM Investments, said: "We are delighted that the Deputy Mayor and his high profile delegation from London have come to Dubai to witness first-hand the thriving business communities found within TECOM’s business parks.
"Dubai Internet City, Dubai Outsource Zone and Dubai Media City were all pioneering initiatives in the development of the GCC’s digital and media industries. By creating industry specific infrastructure and business environments geared towards growth, they have been very successful in attracting investment and companies from right across the world, including many well-known British companies, such as BBC Worldwide, British Telecom, Bell Pottinger, Macmillan Publishers Ltd, Sky News, Schlumberger Technologies Operating Limited, Guinness World Records, Infor (United Kingdom) Limited amongst others.”
During the meeting, Malek Al Malek and Joanna Shields, signed a Memorandum of Understanding to confirm the common desire of the two organisations to promote and develop trade, inward investment and business relations between London and Dubai. Such goals will be achieved through sharing of best practices and ideas as well the provision of support services for London businesses setting up in Dubai and Dubai businesses setting up in London.
Joanna Shields, CEO of Tech City and the UK's Business Ambassador for Digital Industries, said: "Innovation and entrepreneurship are the engines of economic growth. Dubai Internet City pioneered the concept of a technology cluster in the region, and in just over a decade it has managed to become a global magnet for some of the world's fastest growing companies. Dubai and London share a common commitment to creating the best place to imagine, start and grow a business. I'm very excited to return here to share our success and learn from Dubai Internet City’s success. Together we will build a bridge that will enable entrepreneurs and the businesses they create to grow internationally.”
Following the signing of the MoU, Malek Al Malek added: "Championing partnerships and closer ties between companies in TECOM’s business parks and businesses in Tech City is absolutely vital for the future economic growth in both Dubai and London. This MoU reflects our desire to strengthen our trade and knowledge links with the UK with a specific focus on digital industries and technology. We look forward to building a strong relationship with the UK government and businesses and to working in closer collaboration with Tech City in the future.”
The UAE shares a healthy bilateral relationship with the United Kingdom covering different trade, and investment, cultural and other interests.Strengthening ties further; Governments of both countries established the UK-UAE Joint Economic Committee, and have set a target of increasing trade between both countries by 60% by 2015.Mutual business opportunities and relations have contributed significantly to the development of each other’s economies.
About TECOM Investments
TECOM Investments, headquartered in Dubai and a member of Dubai Holding, is a global company dedicated to knowledge industries. Home to over 4,500 businesses, including major multinationals and many of the Fortune 500 companies, TECOM Investments’ interests also include exclusive investments in high-growth sectors.
One of TECOM Investments’ largest portfolio companies is TECOM Business Parks. It comprises of 10 interconnected business parks arranged under five industry clusters across the ICT, Media, Education, Sciences, and Manufacturing and Logistics sectors.
Dubai Internet City and Dubai Outsource Zone form the ICT Cluster, while Dubai Media City, Dubai Studio City and the International Media Production Zone make up the Media Cluster. Dubai Knowledge Village and Dubai International Academic City are part of the Education Cluster. Dubai Biotechnology and Research Park (DuBiotech) and Energy and Environment Park (ENPARK) compose the Science Cluster. Dubai Industrial City comes under the Manufacturing and Logistics Cluster.
Building on its domestic success and vision for global expansion, TECOM Investments has conceptualised SmartCity, a venture that aims to develop knowledge industry townships worldwide. The foundation has already been laid with the development of SmartCity Malta and SmartCity Kochi.
Apart from spurring cluster development by creating purpose-built facilities and working with the Dubai and Federal Governments to develop business-friendly policies and industry regulations, TECOM Investments also focuses on ‘pure play’ businesses. eHostingDataFort is a managed IT and advisory services provider. Arab Media Group (AMG) is a leading media and entertainment organization in the UAE, with subsidiaries covering radio broadcasting, event management and outdoor advertising.
TECOM Investments also owns share capital in Empower, a district cooling service provider; Nexgen Advisory Group, a MENA-based specialized advisory and consulting services organisation; and Energy Management Services (EMS), a leading energy savings company in the Middle East.
Contacts
TECOM Investments
Sam Turvey on +971 5 5559 7383
sturvey@bell-pottinger.co.uk
Hilary Merrett - Senior Press Officer, Mayor of London
Covering issues relating to economic development, Olympic legacy, planning, sport
T: 004420 7983 4755
(Out of hours - 004420 7983 4000)
Twitter - @hilarymerrett74
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