On 6-8th June, 2022, a high-tech business mission took place in the United Arab Emirates. The participants included more than 10 international and Russian IT companies, almost half of which were representatives of the RUSSOFT Software Developers Association: Auriga, Ambiot, Spirit, SWTec.
The eventful business program of the mission was devoted to expanding the geography of doing business to the Middle East, namely, searching and negotiating with potential partners, entering the markets of the UAE and other countries.
On the first day, consultants and experts explained to participants what doing business in the UAE actually is about – the specifics of registering companies locally, the procedure for obtaining the necessary certification documents, the specifics of tax and accounting in Dubai, measures of state support for companies. The participants had the opportunity to receive high-quality answers from experts who already have the necessary experience in business development in the UAE, have accumulated lobbying resources, and possess important subtleties of communication on the ground.
During the program, there were several field events and visits, in particular, the companies visited Dubai Silicon Oasis (a free economic zone focused on the field of new technologies and materials, microelectronics, optoelectronics), DIFC FinTech Hive (the largest accelerator for fintech projects in the Middle East, Africa and South Asia (MEASA), Dubai FDI (part of the Dubai Department of Economic Development, provides important information and support to foreign companies) and Yalla!Market (Dubai Grocery delivery service – the company was founded in 2021 by Russian entrepreneurs). During these visits, the participants could hold negotiations at the highest level with representatives of these companies and discuss the terms of possible cooperation.
The final day of the business mission was dedicated to targeted B2B and B2G meetings with partners. In addition, a series of pitch sessions were held in front of potential investors, during which participants could present their products and get feedback on the possibility of implementing a particular project, as well as communicate with potential partners on the ground.
It is worth mentioning that the business mission program was held not only in Dubai, but also in Abu Dhabi so that companies could evaluate and compare the advantages of working in a particular emirate. So, during the trip to Abu Dhabi, the participants visited the Hub71 center, which is a technological ecosystem for startups. At a meeting with the management they discussed issues of registration of companies in the UAE, investments and finance in the field of high technology.
The business mission showed that there is more interest in Russian companies and the expansion of cooperation with them, and the potential for doing business in the UAE has huge scales and prospects. In this regard, it is planned to further expand cooperation with the countries of the Middle East, India and Iran, in particular, conducting similar business missions and similar business events.