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DUBAI--Every
two years, the World Bank and International
Monetary
Fund (IMF) host their annual meetings outside
of the Washington, D.C. "Beltway" and
offer an opportunity to a city abroad to
welcome the upper echelons of the financial
and political worlds. Next year, it will
be the turn of the city of Dubai, in the
United Arab Emirates, to play host to these
meetings. Ibrahim Belselah, the General
Coordinator of the Dubai 2003 Committee,
hopes that by bringing thefinancial community,
nongovernmental organizations (NGOs) and
international media to Dubai, it can share
the modern-day success story of the United
Arab Emirates with the rest of the world.
This success story impressed the World
Bank/IMF Boards of Governors, who selected
Dubai as the host city--not the least because
of its 21st century infrastructure that
emerged out of barren desert in barely
three decades.
"This
is one of the fastest development projects
that have taken place in such a short period
of time," Belselah said about Dubai and
the UAE. Over the last three decades, Dubai
has transformed itself from a city of sand
and dust to a metropolis of glass, grass and
asphalt. It is home to a vast array of cutting
edge, multistory buildings, and its skyline
is not yet complete. Cranes, scaffolding and
construction sites are a prominent part of
the current urban landscape the way they are
in post-cold war Berlin. Belselah emphasized
that Dubai's hosting of the World Bank/IMF
meetings will serve a longterm purpose for
the city.
Playing host
to more than 10,000 delegates will give a
chance to Dubai to demonstrate
its potential to be one of the world's major
financial centers alongside Hong Kong, Singapore,
New York and London. It is also a chance, according
to Belselah, to draw the world's attention
to the Middle East region as a zone of economic
potential rather than a zone of conflict. For
a majority of the World Bank/IMF delegates,
it will be their first visit to the UAE and
to the Middle East. And 2003 will also be the
first time the World Bank/IMF meetings will
take place in the Arab world. Belselah is quite
hopeful that Dubai can help erase some of the
stigma attached to the region and dispel some
of the misconceptions the world may have about
the UAE. "When they get here, they will
realize how peaceful it is and what a high
quality of life we have," he said.
Among the surprises for first-time visitors
to Dubai are the state of the art accommodation
and office spaces, well-kept roads, clean air
quality and manicured green landscapes that
seem to thrive in the desert heat. But for
visitors with business interests, Belselah
maintains that there are even more benefits
in store for them. He said that the UAE government
minimizes the red tape for the international
private sector when they launch businesses
in the country. One of the main aims of Dubai
during and after the meetings is to attract
more business from international firms. Though
there are numerous multinationals and overseas
businesses already inhabiting office space
in the city, they account for a relatively
small fraction of the overall UAE economy.
To stimulate more foreign investment, the government
offers overseas firms incentives such as tax
free profit transfer, eased visa restrictions
and a stable host government. Some of the companies
Belselah hopes will take notice of Dubai are
companies that lack a Middle East regional
office.
The new Dubai International Convention Center,
which will be the home of the annual meetings,
will be completed by the first quarter of 2003
and will add to Dubai's already formidable
international business infrastructure. Located
in the World Trade Center complex, the new
facilities will include two hotels and adjacent
office buildings. After the meetings, the convention
center will become a venue for exhibitions,
sporting events, shopping outlets and concerts.
The building of the new facilities has led
to the creation of many construction jobs and
will create additional opportunities in sectors
like event management, public relations and
information technology.
Logistics aside,
Dubai is ready to handle the human element
of hosting such a high-profile
international conference. One area, which Belselah
said Dubai is ready to face, is the possible
eruption of protests that have been staples
or recent international conventions. But Belselah
says that the city will actually welcome the
voice of dissent to be heard during the meetings.
Dubai, he said, is an "honest broker place" where
all the different parties' messages can be
conveyed.
"We will welcome everybody to express
his or her views," he said. "People
are free to speak their minds in the UAE."
Belselah also
stressed that some of the prominent causes
of the protesters, like environmental
conservation and poverty alleviation, are also
causes of the UAE. "We have a lot of programs
in the country that address these issues," Belselah
continued. "We are among the highest in
foreign aid donations to the rest of the world-more
than some developed countries." The UAE
contributes more than $2 billion annually in
foreign aid to developing countries, both Islamic
and non-Islamic.
Responding
to the criticism that the World Bank/IMF
selected Dubai as host to the annual
meetings because it may be deemed inaccessible
to protesters, Belselah was quick to prove
the contrary. "I think Dubai is an open
place," he said, adding that there are
35 countries whose citizens don't require visas
to enter the UAE. "This is one of the
most open visa policies in the world." He
also said that the UAE is one of the very few
countries where the majority of residents are
non-nationals. Attendees of the meetings will
likely find their fellow nationals living in
Dubai, he said. Belselah also maintained that
since Dubai airport is one of the world's leading
air hubs, fares are rather inexpensive and
accessibility from all geographic regions is
easy.
Finally, Belselah
wanted to emphasize that the Dubai and UAE
success story has been not
just the result of the oil that was struck
here decades ago, but the result of good leadership. "A
lot of other countries have more resources
than us," said Belselah. "It is our
stable and practical government that takes
care of its nationals. That is why we have
one of the highest standards of living in the
world."
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