© Reuters. Business Lines: Everything you need to know about the business world, from Dubai to London
In this April issue of Business Line, Dubai’s monthly barometer of business, we look at how Dubai is positioning itself as a global creative hub, why Bill Gates is appealing to governments and businesses, and after being closed for more than one year, the West End of London is preparing to welcome the public again.
Dubai recently announced its Creative Economy Strategy, which aims to transform the emirate into a global hub for the creative industry that includes culture, content, media, design and the arts by 2025.
The goal is to increase the contribution of the creative economy to the country’s GDP from 2.6% to 5%.
The Creative Economy Strategy aims to double the number of creative and cultural companies operating, from the current 8,300 to 15,000 in the next four years.
Creative jobs are expected to go from 70,000 to 140,000 jobs in the next period. Start-up specialists Virtuzone say they have already seen an increase in inquiries.
Amer Yehia, Director of Customer Experience, CRM and Business Partnerships at Virtuzone, says the announcement is clear when it comes to a suitable framework to support the creative industry.
He told us that “it is very encouraging to see that Dubai supports these kinds of initiatives to bring in foreign companies, as well as supporting local talent when it comes to the creative sector.”
The simple fact of these initiatives demonstrates the commitment that Dubai has from the point of view of infrastructures and the willingness to encourage these types of people to come and grow their business.
Amer Yehia Head of Customer Experience CRM & Business Partnership at Virtuzone
In 2013 Ahmad Ammar and Vincenzo Visciglia created the fashion brand AAVVA. It started as a side project in 2013 and quickly grew into a fashion line with independent stores and is now present in international boutiques.
Vincenzo Visciglia says this is “incredible news” for people who work in the creative sector.
The Creative Economy Strategy aims to support creative minds to produce new and exciting concepts.
Ahmad Ammar said that as a company they are committed to having everything from design to production produced in the city. “We do everything in Dubai. So I do not subcontract. I do not bring anything from outside,” he told Euronews, adding,
“I flew my whole team to Dubai from different countries: embroiderers, craftsmen, all the people who make up, even the design team that is helping us now. So we have our production house in the UAE. We do it. everything here. Even the fabrics, we try to buy what is available on the market here. “
Dubai began to consolidate its creative economy with the creation of centers such as Media City, Production City and Dubai Design District. The Dubai Design District, also known as D3, was launched in 2013 and Virtuzone’s Amer Yehia said it has functioned especially well as a hub for fashion, art and creativity.
I suppose the fashion industry in Dubai is still new, but we see that the local community and clients really support the domestic designers as opposed to the foreign designers.
Vincenzo Visciglia Co-founder of AAVVA
As a first step, Sheikh Hamdan, Bin Mohammed bin Rashid Al Maktoum, Crown Prince and Chairman of the Dubai Executive Council, launched the Al Quoz ‘Creative Zone’ in the Emirate.
The area is destined to become a dynamic center where artists and designers can live, work and create, and constitutes a blueprint for future creative strategy.
On the other hand, Bill Gates urges governments and the private sector to work together to “develop and deploy” cutting-edge technologies that eliminate emissions throughout the world economy. He called for creative new funding for these technologies to “level the playing field” to compete with fossil fuels.
The Microsoft Corporation (NASDAQ 🙂 co-founder and philanthropist addressed more than 40 world leaders remotely at the virtual world climate summit hosted by US President Joe Biden.
Gates explains that climate change is an incredibly complex issue, and that using only current technologies will not allow us to achieve our ambitious goals:
“The reason is that almost all of our zero-emission technologies are more expensive than their fossil fuel counterparts. To provide all the benefits of modern lifestyle to people around the world, we need new zero-emission products that are just as efficient. affordable, having, what I call, a green premium. “
Gates also spoke of the need for governments and businesses to adopt policies that make the transition from fossil fuels “faster and cheaper”.
He made clear to world leaders at the virtual climate summit that “we have to develop and deploy innovative technologies that allow us to eliminate emissions throughout the physical economy. Second, we have to harness the power of markets to finance and deploy these innovations, for example by finding creative ways to finance the technologies and leveling the playing field so they can compete with fossil fuels. Third, governments and businesses must adopt policies that make the transition faster and cheaper, “he said .
The American billionaire completed his presentation by urging leaders to reward those who take “difficult steps.”
London Finally Raises the Curtain As the UK cautiously begins to reopen, its world-famous West End prepares to welcome audiences back to theaters. The sector, which employs 300,000 people, has been closed for more than a year, putting thousands of jobs at risk.
Actor Noah Thomas, 21, dropped out of drama school to take on the lead role in the London West End musical Everybody’s Talking About Jamie.
It debuted in early 2020 and weeks later, as the coronavirus pandemic swept across Britain, theaters closed.
Noah said that “as the months went by you said to yourself, this is so much bigger than any of us could have anticipated, and then you know, you think about the practical side of this, you know, finances, and your family. and your friends”.
The light at the end of the tunnel The British theater industry has been closed for most of the past 13 months, putting thousands of jobs in bars, restaurants and hotels at risk.
Unlike other industries, many theater workers were left without government help. After strong criticism, the British government has distributed more than 1.38 billion euros in grants and rescue loans to arts and cultural organizations.
Nica Burns, owner of the Apollo and five other London theaters, has invested in cast, staff and façade tests, disinfection stations and electronic entrances. You have removed the seats so that members of the public can keep a safe distance from each other.
Nica Burns said that theater is a transformative experience for many people. “I have seen the public leave the theaters much, much happier than when it arrived,” he exclaimed.
About a third of West End theaters are scheduled to reopen in the coming weeks, and restrictions are set to be relaxed on June 21, but this could be halted if coronavirus cases rise again.
Although staff and fans are concerned about the shock, so far many agree that the show must go on.