Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Dubai is best place to do business  Join our daily free Newsletter

MENAFN - Khaleej Times - 04/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) Dubai is the best place to establish a new business or expand operations to other GCC and Middle East countries due to its strategic location and investor-friendly environment, according to a non-resident Indian investor.

Rishabh Puri, executive director of Nexus General Trading and Global Sterling Products, said the emirate's winning rights to host the World Expo 2020 is slated to be a big boon for business in the region.

"We are planning to use Dubai as a business hub for our growing businesses in India, United Kingdom and Nigeria. The emirate is the 'best place to function' to cater to the GCC and wider Middle East market," Puri told Khaleej Time.
.
About the group portfolio, he said it is engaged in the design, manufacturing and installation of high quality automated packaging machinery in West Africa and India.

"We specialise in user-friendly and easily maintained inline, rotary and turnkey packaging systems. The group also provides custom automated solutions for a variety of industries. Our design studio is located in the United Kingdom," he said.

Puri, who looks after family business in United Kingdom and Nigeria, believes that the Dubai's successful Expo 2020 bid will bode well for the companies across all sectors, as the emirate is "no doubt" very capable of holding an event of such magnitude.

"Dubai has a certain magnetic power" [with] the confirmation of [hosting] Expo 2020, it is likely that we will also see an increase in the number of new businesses and entrepreneurs looking to benefit from this influx," he said.

"Positive news seems to be coming from every sector [in Dubai], and there is an estimate that millions of visitors will come here [for the Expo]," he said.

Puri terms that decision to relocate to Dubai as a "substantial move" for the group, as he sees good potential in the GCC market.

"Dubai, being the region's hub, was the obvious choice to go, especially with the UAE's overall connectivity to other key markets," he said.

In the UAE, the company has started businesses similar to those in Africa and India, in addition to a water treatment plants solution in Saif Zone by the name of Global Sterling FZ-C and LED Lighting Systems in Dubai.

Puri said his group sustains a steady annual growth of about 15 per cent to 20 per cent since its inception 30 years back.

"The company's business is performing well in its main Nigerian and Indian markets," he said.

On the outlook for the business in 2014, Puri said it is "definitely very positive, as the UAE government has declared a lot of mega projects in terms of the development of the infrastructure and hospitality sectors".

 


Khaleej Times




  MENA News Headlines
 Dec 21 2014 - Saudi- Muhammad Ali hospitalized with mild pneumoniaArab News
(MENAFN - Arab News) LOUISVILLE: Boxing legend Muhammad Ali was in stable condition after being hospitalized with a "mild" case of pneumonia his spokesman Bob Gunnell said.The 72-year-old Ali was ...

 Dec 21 2014 - Al-Naimi is 'confident' oil prices will improveArab News
(MENAFN - Arab News) ABU DHABI: Petroleum and Mineral Resources Minister Ali Al-Naimi said he was confident world prices would improve after a slide he blamed partly on 'lack of cooperation' by ...

 Dec 21 2014 - Irresponsible non-OPEC output behind oil price plunge: UAEArab News
(MENAFN - Arab News) ABU DHABI: "Irresponsible" levels of output by producers from outside the OPEC oil cartel is among the main causes of the slump in prices the UAE energy minister charged ...

 Dec 21 2014 - Saudi produces 74 percent of GCC polymer capacityMENAFN
(MENAFN) The National Petrochemical Industrial Co. (NATPET), a Saudi joint stock company, has revealed that 74 percent of the GCC's polymer capacity, totaling 17.6 million tons, was produced in the ...

 Dec 21 2014 - Algeria worried on falling oil pricesMENAFN
(MENAFN) Algeria, which oil revenues make up 97 percent of its hard currency earnings and 60 percent of the government's budget, is beginning to feel the impact of the fall in oil prices that led it ...

 Dec 21 2014 - UAE's non-oil trade hits USD142b in H1MENAFN
(MENAFN) The UAE's Federal Customs Authority (FCA) said that the value of direct total foreign non-oil trade has reached USD142.8 billion during the January-June period of 2014, Arabian Business ...

 Dec 21 2014 - UAE slams non-OPEC members on rising oil productionMENAFN
(MENAFN) The UAE's Ministry of Energy said that the decision made by the Organization of the Petroleum Countries (OPEC) not to cut production was correct despite the prices continuing with their drop ...

 Dec 21 2014 - Oman's OLC, Spanish CLH sign USD320m contractMENAFN
(MENAFN) Orpic Logistics Company (OLC), a joint venture between Oman Oil Refineries and Petroleum Industries (Orpic), announced it has signed an engineering, procurement and construction (EPC) ...

 Dec 21 2014 - UAE's Hakkasan acquires USD36m The Light GroupMENAFN
(MENAFN) Hakkasan Group, the hospitality and entertainment company owned by Abu Dhabi-based Tasameem Real Estate, announced it has acquired The Light Group from Morgans Hotel Group (MHG), Arabian ...

 Dec 21 2014 - Omani OPWP awards Singaporean firm USD250m water projectMENAFN
(MENAFN) Oman's state-owned Oman Power and Water Procurement Company (OPWP) announced it has awarded a consortium led by the Singaporean Hyflux Ltd and National Power and Water Co a USD250 million ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help