On October 8, the MCCI held an online conference: "Opportunities for Russian game, software and media content developers in the Emirate of Abu-Dhabi".
"This is not the first time we consider issues, related to the presence and promotion of Russian companies in the UAE,” - said Mr. Suren Vardanyan, the Vice President of the Moscow Chamber of Commerce and Industry, when starting the videoconference. Since 2014, the number of Russian business representatives, interested in the UAE, has increased more than five times.
Arab companies demonstrate a similar interest and are ready for open cooperation. This is a two-way street.” According to him, today, in Moscow, more than 150 thousand companies (about 500 thousand jobs) work in the IT-industry and it is important that they demonstrate their capabilities in the markets of other countries. Cooperation with the UAE can give our companies an opportunity to enter the markets of the Persian Gulf countries, the African continent and offer other interesting perspectives available to them.
Mr. James Hartt, the Director for Strategy and Development of the gaming industry for TWOFOUR54, the Abu Dhabi’s Free Economic Zone, gave an overview of state strategies of the UAE and the Emirate of Abu Dhabi ’s roles in stimulating the development of the media industry and spoke about the prospects for the residents of the TWOFOUR54, which is now home to over 600 businesses. The TWOFOUR54 zone is specifically "tailored" for the media industry, the speaker noted, and has an effective team that helps companies to develop their businesses. It also provides assistance in making the Emirate of Abu Dhabi become the world capital of video game creation.
Mr. Alexey Busev, the Chairman of the MCCI’s Commission on Foreign Economic Cooperation with Partners in the UAE, devoted his speech to practical aspects of doing business in this country for Russian IT and media companies. He spoke in detail about the state of the IT market in the UAE and governmental initiatives in this area; presented Russian IT-companies already operating in this market and their creative projects; introduced the audience to the advantages of doing business in the UAE (in particular, the system of preferential taxation), the main challenges for Russian companies (for example, ignorance of the Arab system of personal and business priorities, excessive expectations in terms of entering into contracts, etc.) and national peculiarities of doing business in the Arab world.
The Head of the TWOFOUR54 Abu Dhabi Free Economic Zone game orientation, Mr. Sultan Al Riyi, spoke about how the UAE gambling industry works and complemented the speeches of previous speakers on the advantages of doing business in the Emirate of Abu Dhabi (recruitment and communication subsidies, benefits for office rent, easier access to investors, etc.). In particular, he mentioned that according to the Expat Explorer's research, the UAE is among the TOP 10 countries with the best working conditions, and according to the World Bank's 2019 reports, it ranks first in the Arab world in the "Ease of doing business" category.
Ms. Victoria Bolotova, the Head of International Content Distribution Department, Digital Television Russia, and Ms. Lida Marie, her colleague, a producer of international projects at "Steam Locomotive" studio (supported by the Moscow Export Center), told about their company and their experience of cooperation with Arab partners that started in 2017.
During the discussion, legal aspects of doing business in the UAE were presented: the current regulatory framework in the country, aimed at supporting business (in particular, the law on foreign direct investment), the program-accelerator, which includes a package of economic subsidies and initiatives, aimed at facilitating business, using the project "Instant License” and reverting to previously adopted economic support programs.
In conclusion, the conference participants answered many questions from the audience.