Download Security Master Plan Implementation - Phase I

Financial System Strategy
2020
FSS 2020 International Conference
“Dubai International Financial Centre”
An Overview, June 2007
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Why Dubai?
 Political and Economic stability
 Proactive government policies aimed at economic diversification and
liberalization
 Full government support for new global initiatives
 Business Centric
Recognized as a regional hub with a successful and credible track record
No direct taxes on corporate profits/personal income
100% repatriation of capital and profit
Diversely skilled, well educated, multi cultural & multi lingual workforce
Modern Infrastructure in accordance with the most efficient international
standards. Investment in infrastructure has resulted in lower cost of doing
business, logistics and delivery of services.
 Modern telecommunication networks and highest internet penetration and
utilization rates in the MENA region
 A destination of choice for FDI with over 150 multi-national companies of the
Global 500, including the Top 10 have an established presence in Dubai.
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Dubai Strategic Plan 2015 – Horizon 1
Higher impact
on Knowledge
Economy
Education
Emerging Sectors
• Biotech
• Nanotech
•R&D
FSS 2020
Technology
Enabled services
• Telecom
• Media
• IT
• Energy
• Healthcare
• Financial
Lower impact
on Knowledge
Economy
Trade
Logistics
Transportation
Tourism
Short Term Impact
Long Term Impact
Why Dubai?
 Excellent Global Connectivity
 World’s third largest active re-export hub after Singapore & Hong Kong
 Jebel Ali is the world’s largest man-made port, home to 5,500
companies from over 120 countries
 Dubai Ports ranked as 9th Top Container Port Worldwide servicing
more than 120 shipping lines with 7.62 million TEUs handled in 2005.
FSS 2020
 Dubai Airport connecting 113 airlines and serving over 194
destinations In 2006 airport traffic hit 28.7 million passengers;
expected to grow to 60 million by 2010
Source: Dubai International Airport, Department of Civil Aviation
Dubai, DP World
Why Dubai?
FSS 2020
Dubai is a preferred location for regional and global HQs of many transnational
and multinational corporations.
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Dubai ranks strong on all
relocation measures.
Strategic central location
Favourable tax structure
Competitive business environment
Quality of life
Pro-business government
Language skills
Dynamic business environment
Flexibility labour market
Advantageous time zone
World-class Infrastructure
Proximity to existing operation/production site
Dubai Strategic Plan 2015 - Horizon 2
Higher impact
on Knowledge
Economy
Education
Emerging Sectors
• Biotech
• Nanotech
•R&D
FSS 2020
Technology
Enabled services
• Telecom
• Media
• IT
• Energy
• Healthcare
• Financial
Lower impact
on Knowledge
Economy
Trade
Logistics
Transportation
Tourism
Short Term Impact
Long Term Impact
FSS 2020
Cluster Based Economy
Dubai Strategic Plan 2015 - Horizon 3
Higher impact
on Knowledge
Economy
Education
Emerging Sectors
• Biotech
• Nanotech
•R&D
FSS 2020
Technology
Enabled services
• Telecom
• Media
• IT
• Energy
• Healthcare
• Financial
Lower impact
on Knowledge
Economy
Trade
Logistics
Transportation
Tourism
Short Term Impact
Long Term Impact
Dubai 2015: Strategy Highlights
 Economic Development Aims:
 Sustain a GDP growth rate of 11% per annum
 Achieve a GDP per capita of USD 44,000
 Increase productivity by 4% per annum
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 Move existing sectors of strength to new frontiers, both
domestically and internationally
DIFC Region - A Favourable Economic
Environment
• 42 countries spanning the Middle East, North & Eastern
Africa, the Caspian and the Subcontinent
• Population of 2.2 billion people (2005)
• US$2.3 trillion combined GDP (2005)1
• Financial wealth of high net worth individuals in the Middle
East region is estimated to be growing at 19.7%, surpassing
the pace of growth of that in North America, Europe and
Asia Pacific.2
FSS 2020
• Regional wealth invested abroad: $1.8 trillion
• DIFC Region Total Exports > US$1 trillion (2006)
• DIFC Region Total Imports > US$850 billion (2006)1
2 Source: Merrill Lynch Capgemini World Wealth Report 2006
1 Source: EIU Data
A Window to Regional Opportunities…
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High oil prices, increased government spending and abundant liquidity
have generated an investment and consumption boom that is stimulating
growth in the region.
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Regional governments pursuing diversification strategies, adopting
economic reforms, state divestment & privatisation plans, resulting in
attractive prospects across a variety of sectors.
Projects Planned and/or Currently Underway in the Gulf Region
** Value in USD millions
FSS 2020
UAE
Bahrain
Kuwait
Qatar
KSA
Oman
Iran
Iraq
Total Value
Oil & Gas
32,633
1,110
26,228
59,725
44,605
9,860
54,845
10,155
239,161
Construction
264,50
1
21,740
170,37
5
36,326
83,349
10,135
4,275
14,180
604,881
Industry
15,980
2,705
2,130
5,030
10,585
3,450
5,335
1,218
46,433
Power
16,970
1,305
5,632
6,303
23,115
2,610
11,613
2,680
70,228
Petrochemicals
6,350
1,000
4,270
9,720
55,002
7,250
20,240
175
104,007
Water & Waste
2,035
1,070
2,380
1,173
5,500
2,140
560
50
14,908
338,469
28,930
211,015
118,277
222,156
35,445
96,868
28,458
1,079,618
Total Value
Meed Projects. Data as of May 24, 2006
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FSS 2020
DIFC- Structure
Office of the President of the DIFC
headed by DIFC Governor
(Dr. Omar Bin Sulaiman)
Dubai International Financial
Centre Judicial Authority
(DIFC Courts)
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Registrar of Security
Dubai International
Financial Centre Authority
(DIFC Authority)
Dubai Financial Services
Authority (DFSA)
Registrar of Companies
DIFC Investments
Hawkamah
Corporate Governance
Institute (CGI)
Dubai International
Financial Exchange Limited
(DIFX)
DIFC- Value Proposition
DFSA: World Class
Regulations
DIFC Courts:
Independent
Judicial System
DIFX:
Liquid & Transparent
International Exchange
A dedicated financial
services cluster
Hawkamah Institute for
Corporate Governance
FSS 2020
A Clear & Transparent
Legislation
DIFC Education
Strategy:
Access to Talent
Window to a wealth
of opportunities
DIFC Resource Centre:
Business Support
Services
Sectors of Focus
• Banking Services
• (Investment Banking, Corporate Banking & Private
Banking)
• Capital Markets
• (Equity, Debt Instruments, Derivatives and Commodity
Trading)
• Asset Management & Fund Registration
FSS 2020
• Islamic Finance
• Insurance & Reinsurance
• Business Processing Operations
• Ancillary Services
A Liquid & Transparent International Exchange
A Platform for…
Regional Investors
seeking International
Investments
 Tokyo
Regional Issuers
seeking International
Investors
International
Investors seeking
Regional Investments
FSS 2020
International
Issuers seeking
Regional Investors
 Sydney
Liquidity secured through regional and international liquidity
providers and market makers
DIFC Achievements
Insurance
Broking & Mgmt
Zurich
AIG
Alico
JLT Risk Solutions
Re-Insurance
Islamic Finance
Asset Mgmt &
Fund Registration
Banking
Services
Takaful Re
Alliance Re
Scottish Re
Injazat
Crescent Standard
Arcap Inssef
Unicorn Inv. Bank
Amanah Fin. Ser.
SEDCO
Ansbacher
SHUAA Capital
Franklin Templeton
Mellon Global Invs.
Merrill Lynch
EFG Hermes
Deutsche Bank
Credit Suisse
HSBC
Standard Chartered
Barclays Bank
Citigroup
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Non-Regulated
Bloomberg
IFC
SWIFT
Dubai Int’l Capital
Moody’s
Schlumberger
Data as of January 4th 2007
ASPs
TOTAL=352
Al Tamimi & Co.
KPMG
Grant Thornton
Clifford Chance
Allen & Overy
Linklaters
FSS 2020
A Strong Ramp Up of Members…
for more information please refer to www.difx.ae
1990
FSS 2020
DIFC
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FSS 2020
After 2000
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DIFC District
Central Park
Park Boulevard
Central District
Gate Boulevard
Park Avenue
FSS 2020
Gate Village District
Gate District
FSS 2020
DIFC District
DIFC Population Potential
Population Count
2005
2006
2007
2008
2009
2010
901
4,794
10,501
25,812
34,512
34,932
23
203
478
1,559
2,768
2,841
Residential
Population
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-
952
7,006
10,022
10,190
Hotel Employees
-
-
223
1,739
1,819
1,823
Other Employees
-
-
-
613
707
710
924
4,997
12,154
36,729
49,828
50,496
Office Employees
Retail Shops
Employees
FSS 2020
Total
Data based on Internal estimates
FSS 2020
A Cosmopolitan District
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A self-contained ultra-modern financial district, housing offices, serviced apartments,
hotels, shops and restaurants.
•
4 million square feet of ultra-modern prime office space, designed to meet, and exceed,
the demands of the world’s most sophisticated international financial institutions.
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32,698 underground car parking spaces and an automated transit system which will
circumnavigate the entire district.
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World-class infrastructure with access to an excellent and sophisticated
telecommunication infrastructure, facilitating easy communication with U.S., Europe and
Asia.
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Locating in a dedicated financial services hub with access to reputable professional
services and operational support firms, and in close physical proximity to a wealth of
business opportunities.
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FSS 2020
Financial System Strategy
2020