Hosting Expo 2020 will be a catalyst for the ongoing diversification and development of Dubai’s knowledge economy, said the Group CEO of Tecom Investments, today led the world class developer and operator of business parks.

In a memo to Tecom’s 4,500 business partners, Dr Amina Al Rustamani stated that its 11 industry-focused business parks – 10 of which are free zones – will play an important role in providing a stable and dedicated platform for thousands of companies as they seek to take advantage of the commercial opportunities hosting the Expo will bring.

According to a recent Oxford Economics report, hosting the Expo will contribute Dh141 billion ($38 billion) to Dubai’s GDP and create 277,000 jobs over the next seven years. Dr Amina’s memo suggests that these benefits will come in three distinct phases, directly helping businesses and further developing the Emirate’s knowledge economy.

“Winning Expo 2020 is a remarkable achievement for Dubai and the UAE. We must recognise the vision of Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, in seeking to bring the World Expo to the Middle East for the very first time – and for foreseeing the benefits it will bring to the business community and the wider knowledge economy,” said Dr Amina in the memo.

“Hosting Expo 2020 will be a catalyst for the ongoing diversification and development of Dubai’s knowledge economy, and we are likely to see the benefits in three distinct phases. There will be an immediate shot in the arm in terms of economic confidence.

“This will be followed by the planned infrastructure and project investments taking shape over the next six years during the preparation stage, which will offer growth opportunities across a range of industries – from manufacturing and media to tourism and education. Once the event is complete there will also be a strong legacy that the event leaves behind, which businesses will be able to take advantage of,” she added.

“Companies of all sizes and sectors will benefit as they seek to support the event with products and services before, during and after the Expo. Importantly, through it all, Tecom Investments will play an important supporting role in providing the business-friendly, stable and dedicated environments from which thousands of companies will be able to compete and succeed, creating hundreds of thousands of jobs along the way.”

Malek Al Malek, CEO of Tecom Business Parks, said: “On behalf of Tecom’s business parks, I congratulate the UAE and Dubai leadership on securing the right to host Expo 2020. This is a huge achievement, which will enable the UAE to demonstrate its many attractions, innovations and talents on a global scale.”

“As it has always done in the past with such occasions, I am confident that Dubai will strive to not only deliver a successful Expo, but it will aim to host the best Expo the world has ever seen.

“Dubai’s successful Expo campaign theme, Connecting Minds, Creating the Future, resonates closely with the ambition of Tecom’s business parks. Since their inception, these dedicated business hubs have underpinned Dubai’s drive to become a knowledge-sharing economy through their dedication to specific industries,” he added. – TradeArabia News Service