02 June 2015Move underlines Dubai's position as a hub for investment and global expansion
Dubai - Dubai's reputation as a magnet for multinationals and international investors will get another strong endorsement this year with the 7-Eleven global franchise opening its first store in the city in September 2015. The arrival of the international convenience store chain was announced at a press conference hosted jointly by Seven Emirates Investment, the exclusive regional franchiser of 7-Eleven, and the Department of Economic Development (DED) in Dubai today.
Khamis Al Sabousi, President of Seven Emirates Investment, and Omar Bushahab, Chief Executive Officer of Business Registration and Licensing (BRL) sector in DED addressed the press conference held in the presence of His Excellency Sami Al Qamzi, Director General of DED, and representatives from 7-Eleven stores in Japan and USA as well as strategic partners in the business.
Commented Bushahab: "We are delighted to see Seven Emirates Investment taking off with the opening of the first 7-Eleven store set for September 2015. It's a critical step forward for Seven Emirates Investment, which also underlines the ease of doing business in Dubai and its successful economic policy on one hand and the confidence international companies have in the emirate on the other hand."
Referring to business licenses issued by DED during the first quarter of 2015, Bushahab said Commercial licenses accounted for 73.3% of the total, which confirms the position of Dubai as a commercial hub and one of the best shopping destinations regionally and globally. Various international reports have rated Dubai top in terms of the number of retail outlets and brands.
Bushahab also spoke of Dubai's continuous efforts to help businesses overcome obstacles and continue growing, which he said plays a major role in attracting companies such as 7-Eleven. "We are in the process of launching smart initiatives that serve businessmen and investors, thereby accelerating development of vital sectors and raising the level of investor confidence as well as overall competitiveness in Dubai. We are confident that Dubai will continue growing as a business hub and occupy a strategic position on the world economic map."
The Seven Emirates Investment President said in his speech that bringing a leading retailer like 7-Eleven to the region is part of his company's efforts to develop existing supply chains, provide innovative nutritional solutions, and encourage young people to explore franchising as a business model by also providing the support and training required. "Franchising promotes growth of private businesses and helps ambitious youngsters achieve their goals, while ensuring their participation in the development of the retail sector."
Al Sabousi pointed out that 7-Eleven is a unique franchisee, which has over 56,000 outlets across 16 countries. Seven Emirates Investment will ensure that the outlets in the region are also unique, modern and well-aligned to the social and economic trends in the region. As one of the leading retail destinations worldwide, introducing 7-Eleven to the region is not purely based on economic considerations but also aimed to create an upscale service experience.
"Dubai attracts millions of tourists to its shopping and entertainment facilities annually, and has been rated the second leading shopping destination globally for the fourth year in a row. Likewise, Abu Dhabi stood third among top markets targeted by international brands and new entrants in 2014. Dubai also occupies first place worldwide in the co-existence of nationalities, with people of over 200 nationalities living in the city. We will see that our stores keep up to the standard of development as well as the blend of cultures and nationalities in the UAE, and that the consumer finds all his daily requirements in 7-Eleven stores," said Al Sabousi.
Al Sabousi also lauded the role of the Government of Dubai and its co-operation with the private sector in supporting business, adding that it will help 7-Eleven achieve its goal of opening more than 820 stores in the region over the next ten years.
About Department of Economic Development (DED)
The Department of Economic Development (DED) is the government body entrusted to set and drive the economic agenda of the emirate of Dubai, UAE. DED supports the structural transformation of Dubai into a diversified, innovative service-based economy that aims to improve the business environment and accelerate productivity growth.
DED and its agencies develop economic plans and policies, identify and support the growth of strategic sectors, and provide services to domestic and international investors and businesses.
For further information, please contact:
Government Communication Division,
Department of Economic Development
Tel: (971 4) 445 5927
© Press Release 2015