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MoU signed between TECOM and London's Tech City

Dubai, 17th April 2013 (WAM) – Sir Edward Lister,theDeputy Mayor of London, has visited the UAE as part of a business delegation seeking to develop closer partnerships and synergies between the UK’s Tech City, a media and technology hub based in East London, and Dubai Internet City (DIC), Dubai Outsource Zone (DOZ) and Dubai Media City (DMC), three of TECOM Investments’ 10 interconnected and industry focused business parks.

The Deputy Mayor was accompanied by Joanna Shields, Chief Executive, Tech City Investment Organisation; David Slater, Director of International Trade ‘&’ Investment, London ‘&’ Partners; Glen Manchester, Chief Executive, Thunderhead; Pru Ashby, Head of Partnerships, Tech City Investment Organisation; Ben Gascoigne, Private Secretary to the Mayor; Edward Hobart, Her Majesty’s Consul General to Dubai; and Karen Williams, Deputy Director, UKTI.

Sir Edward Lister and the UK delegation met with Malek Al Malek, Managing Director, DIC and DOZ,and Mohammad Abdullah, Managing Director of DMC. In addition to meeting with senior directors from TECOM, the delegation, which includes a number of leading UK company executives,also took a tour of the facilities and visited companies located in DIC and DMC.

Commenting, Dr Al Rustamani, Group CEO of TECOM Investments, said: “We are delighted that the Deputy Mayor and his high profile delegation from London have come to Dubai to witness first-hand the thriving business communities found within TECOM’s business parks.

"Dubai Internet City, Dubai Outsource Zone and Dubai Media City were all pioneering initiatives in the development of the GCC’s digital and media industries. By creating industry specific infrastructure and business environments geared towards growth, they have been very successful in attracting investment and companies from right across the world, including many well-known British companies, such as BBC Worldwide, British Telecom, Bell Pottinger, Macmillan Publishers Ltd, Sky News, Schlumberger Technologies Operating Limited, Guinness World Records, Infor (United Kingdom) Limited amongst others." During the meeting, Malek Al Malek and Joanna Shields, signed a Memorandum of Understanding to confirm the common desire of the two organisations to promote and develop trade, inward investment and business relations between London and Dubai. Such goals will be achieved through sharing of best practices and ideas as well the provision of support services for London businesses setting up in Dubai and Dubai businesses setting up in London.

Joanna Shields, CEO of Tech City and the UK’s Business Ambassador for Digital Industries, said: "Innovation and entrepreneurship are the engines of economic growth. Dubai Internet City pioneered the concept of a technology cluster in the region, and in just over a decade it has managed to become a global magnet for some of the world’s fastest growing companies. Dubai and London share a common commitment to creating the best place to imagine, start and grow a business. I’m very excited to return here to share our success and learn from Dubai Internet City’s success. Together we will build a bridge that will enable entrepreneurs and the businesses they create to grow internationally." Following the signing of the MoU, Malek Al Malek added: "Championing partnerships and closer ties between companies in TECOM’s business parks and businesses in Tech City is absolutely vital for the future economic growth in both Dubai and London. This MoU reflects our desire to strengthen our trade and knowledge links with the UK with a specific focus on digital industries and technology. We look forward to building a strong relationship with the UK government and businesses and to working in closer collaboration with Tech City in the future." The UAE shares a healthy bilateral relationship with the United Kingdom covering different trade, and investment, cultural and other interests.Strengthening ties further; Governments of both countries established the UK-UAE Joint Economic Committee, and have set a target of increasing trade between both countries by 60% by 2015.Mutual business opportunities and relations have contributed significantly to the development of each other’s economies.


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