Share
How Africa will benefit from closer economic ties with Dubai
Expo 2020 Dubai is said to have awarded $2.9 billion in construction contracts in 2017, in addition to $112 million in non-construction contracts. These packages will be in addition to a number of other opportunities made available in 2018 as expo moves on to the next stage of its delivery, which is focused on operational expenditure. Senior Vice President of Business Development and Integration at Expo 2020 Dubai, Manal AlBayat joins CNBC Africa to discuss opportunities for businesses in 2018 and beyond.
Thu, 30 Nov 2017 11:44:16 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- Expo 2020 Dubai aims to address global challenges under the theme 'connecting minds, creating the future' by fostering dialogue and collaboration among nations of all sizes and economies.
- The Expo presents extensive opportunities for businesses across various sectors, with significant investments in construction and non-construction contracts, attracting a diverse range of participants and visitors.
- Investing in human ingenuity and innovation, Expo 2020's Expo Live initiative supports solutions with a social impact, with a notable representation from Africa among the grantees, highlighting the global reach of the project.
Expo 2020 Dubai, a monumental project with a staggering $2.9 billion in construction contracts awarded in 2017, is set to be a game-changer for businesses across the globe. In addition to the construction contracts, $112 million in non-construction contracts have been allocated, with more opportunities emerging in 2018 as the Expo progresses to its operational phase. Manal Albayet, Senior Vice President of Business Development and Integration at Expo 2020 Dubai, delved into the origins and objectives of this ambitious endeavor during a recent interview with CNBC Africa. The Expo, scheduled for 2020 in Dubai, represents a significant investment in creating a platform for global dialogue and innovation. The vision behind Expo 2020 is to address pressing challenges faced by the world today under the theme of 'connecting minds, creating the future.' This theme aims to foster collaboration among nations of all sizes and economies to find solutions to common issues. With a keen focus on opportunity, mobility, and sustainability, Expo 2020 seeks to enable communities to thrive, facilitate movement of people and ideas, and ensure progress without compromising the needs of future generations. The scale of the Expo is grand, with plans to host over 200 participants, including 180 countries, NGOs, academia, and multilaterals, attracting an estimated 25 million visitors from around the world. What sets Expo 2020 apart is the high percentage of international attendance, with 70% of visitors expected to come from outside the UAE. To ensure a successful delivery, Expo 2020 has engaged premier and official partners to provide operational support and enhance the visitor experience. Beyond 2021, Expo 2020 aims to leave a lasting legacy with two legacy partners already onboard to continue the impact post-event. The legacy aspect has been a core consideration since the inception of the project, highlighting the long-term commitment to sustainability and progress. For businesses, Expo 2020 presents a wealth of opportunities across various sectors. The significant investment in construction and non-construction contracts not only benefits the Expo as an organizer but also opens doors for businesses to contribute to the planning and execution of the event. With the diverse needs of participating countries, the vast number of visitors, and the operational staff required, there is immense potential for businesses to collaborate and innovate. Expo 2020 is not just about business transactions; it is also a platform for investing in human ingenuity and innovation. Through Expo Live, a $100 million innovation and partnership fund, Expo 2020 aims to support solutions with a social impact related to opportunity, mobility, and sustainability. A notable achievement of Expo Live is the inclusion of 13 grantees from Africa out of a total of 45 grantees from 30 countries. The return on investment for Dubai from Expo 2020 is not just measured in financial terms but also in the catalytic effect it has on progress and development. By dedicating a portion of spending to small and medium enterprises and empowering the youth to actively contribute and benefit from the Expo, Dubai aims for sustainable growth and long-term positive outcomes beyond 2021. Expo 2020 Dubai stands as a beacon of innovation, collaboration, and progress, offering businesses a platform to thrive and contribute to a brighter future for all.
SIGN UP FOR OUR NEWSLETTER
DAILY UPDATE
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.