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09 June, 2014

Expo 2020 likely to create 277,000 jobs, says CEO of Dubai Trade

Mahmood Al Bastaki, CEO of Dubai Trade.

Mahmood Al Bastaki, CEO of Dubai Trade.

Industry Breakfast series discusses future workforce challenges, the expanding SME market, employee retention and Emiratisation policies.

Addressing inaugural UOWD Industry Breakfast series, Mahmood Al Bastaki says academia has a key role to play


Dubai, June 9, 2014: Expo 2020 is likely to create 277,000 jobs, said Mr Mahmood Ahmed Al Bastaki, CEO of Dubai Trade, Dubai World, while delivering the keynote address at the first-ever industry breakfast series hosted by the University of Wollongong in Dubai (UOWD recently on "the challenges for the future of human capital development in the UAE."

Future workforce challenges, the expanding SME market, employee retention and succession and implementation of Emiratisation policies were among the many topics debated at the industry breakfast event that was attended by over 60 senior executives representing a cross-section of UAE business community.

Mr Al Bastaki acknowledged the huge opportunities presented by Expo 2020, and added that academia would have an important role to play in its success by aligning future curricula with the vocational needs of emerging industries. Dubai can effectively leverage the interest generated by the Expo and other strategic initiatives to create a dynamic and diverse economic future, of which education would be a crucial part, he said. 

Continuing the debate, Mr Al Bastaki was joined by a panel of leading industry practitioners, including Mr Sadiq Al Mulla, Chief Administrative & Finance Officer, Zayed University; Ms Fareda Abdullah, Vice President, Human Resources, Majid Al Futtaim; Mr Abdulaziz Bin Karam, Manager of Excellence and Strategy, Fujairah Municipality; and Mr Ronald Uchil, Senior Vice President Corporate Excellence & HR, Gerab National Enterprises.

The panel considered the ongoing expansion of the private sector in the UAE, particularly small and medium-sized enterprises, and the challenges of offering employees not just a job, but a career, in such a dynamic marketplace. Mr Al Mulla stressed the need for employee-focussed training and development to attract, retain and grow a sustainable workforce.

The policies and practices of Emiratisation were also discussed, with Mr Karam highlighting the need for unified policies across the public and private sectors, as well as a change in mindset amongst employers. Ms Abdullah also underlined related challenges for female employees aiming for top positions in the commercial world, saying there was still a need for attitudinal education in some areas of business.  

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Commenting on the challenges for the education sector in meeting the future needs of industry, Mr Uchil proposed career counselling at a younger age, and the panel agreed that higher education institutions had a pivotal role in developing the strategic alliances that would enable education to work hand-in-hand with industry for the benefit of economic diversification and growth.

This event was the first in a series of industry breakfasts hosted by UOWD's Faculty of Business. The series brings together prominent business men and women from across the UAE to debate some of the emerging business challenges facing the country - particularly in the run-up to Expo 2020 - and to consider how the higher education sector can help to address some of these key issues.

About the University of Wollongong in Dubai
Established in 1993 by one of Australia's best research and teaching Universities, the University of Wollongong, Australia, UOWD is the first foreign university in Dubai to be licensed by the UAE Ministry of Higher Education & Scientific Research. Located in Dubai Knowledge Village, UOWD hosts students from almost 100 nationalities.

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Anthony D'Silva, Communicate Gulf (anthony@communicategulf.com
Tel. +9714 3707012,
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P.O.  Box 52821,
Dubai,
UAE

© Press Release 2014