The Electronics Group (TEG), established almost four decades ago in 1985, made waves in the industry on March 6th with its inaugural TEG Conclave hosted at the TAJ Business Bay. Despite maintaining a low profile since its inception, the group has recently experienced a surge in activity under the leadership of its new Chairman Paras Shahdadpuri, also the Chairman of NIKAI Group of Companies.
The conclave was graced by a distinguished gathering of eminent dignitaries including H.E. Abdulla Ahmed Al Saleh, Undersecretary of the Ministry of Economy; H.E. Dr. Farah Ali Al Zarooni, Assistant Undersecretary for the Standards and Regulations Sector at the Ministry of Industry and Advanced Technology (MOIAT); H.E. Satish Kumar Sivan, Consul General of India in Dubai; and H.E. Nathalie Kennedy, Consul General of France in Dubai.
Enlightening keynote addresses from TEG Chairman, Paras Shahdadpuri, and H.E. Abdulla Ahmed Al Saleh not only highlighted the UAE’s growth trajectory as a nation and the vision to double Dubai City’s economy by 2033, aiming to solidify its position among the world’s top three cities, it also underscored the significance of aligning TEG’s mission in shaping the future of the electronics industry.
“The TEG Conclave marks a significant milestone in advancing the Ministry’s objectives to foster closer cooperation, increase trade and investment flows, and deepen economic ties between the UAE and the global community. TEG’s initiative to convene industry leaders and stakeholders underscores the importance of collaboration in driving innovation and growth in the electronics sector. This event not only enhances UAE’s position as a hub for technological advancement but also reinforces our commitment to expanding economic opportunities on a global scale,” opined H.E. Abdulla Ahmed Al Saleh.
Paras Shahdadpuri in his speech highlighted, “Inspired by the visionary leadership of HH Sheikh Mohammed bin Zayed Al Nahyan and HH Sheikh Mohammed bin Rashid Al Maktoum, Dubai strides towards its goal of being a top global city. With an ambitious GDP target of D33 at AED 25.6 Trillion, collaboration between businesses and investors is vital. Addressing areas like FDI, CEPA agreements, and promoting growth in sectors such as real estate and tourism are key. UAE’s friendly foreign policy attracts investments while incentivizing manufacturing and exports remains crucial for competitiveness. Together, through collaboration and innovation, we can propel Dubai towards unprecedented economic prosperity.”
At the heart of the conclave was a thought-provoking panel discussion led by Ashish Panjabi, COO, Jacky’s Retail, who delved into the imperative question, “How Dubai Can Sustain its Competitive Edge” in the dynamic electronics landscape? Joining the discourse were luminaries such as Hassan Al Hashemi, Vice-president of International Relations at Dubai Chambers; Mansoor AlMalik, Executive Director of the Policies and Legislation Division at Dubai Customs; and Nilesh Khalkho, Founder and CEO of Sharaf DG. Their collective expertise and experiences shed light on the ground realities and future possibilities for enduring competitiveness in Dubai’s burgeoning electronics sector.
Key points highlighted at the event included the significant importance of Comprehensive Economic Partnership Agreements (CEPA) with India and other nations, driving GDP growth in sectors such as real estate, tourism, and infrastructure, and UAE’s friendly foreign policy attracting investments. Additionally, safety and security were emphasized as paramount for both investments and population growth.
Discussions underscored the need for the UAE to incentivise manufacturing, despite challenges such as access to raw materials and skilled workforce. Encouraging large-scale exports and re-exports, along with Customs Duty, Corporate Tax, and VAT concessions, were identified as essential measures. Additionally, there were calls to make TV panels customs-free, similar to the computer industry, and for closer scrutiny by MoIAT or ESMA into the certification processes for the electronics industry to streamline costs and validity periods of certifications.
Reflecting on the occasion, H.E. Dr. Farah Ali Al Zarooni emphasized the Ministry’s commitment to fostering strategic partnerships with focus group entities like TEG. She remarked, ” The Ministry also emphasizes the importance of strategic partnerships with global players and institutions. By fostering strategic partnerships with other countries, cities, and organizations and collaborating with international partners can open up new opportunities for trade, investment and knowledge exchange. The Ministry places value on the presence of groups such as TEG. It enables the ministry to concertedly address challenges and identify solutions that are evidence-based and fair. The development of standards and conformity assessment processes are also made efficient with the participation of groups such as TEG.”
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