Brief Report of the Mumbai Chapters Meeting held on 4th Feb. 2004
on "Doing Business with the Middle East".

The Welcome Address & Opening Remarks were delivered by Mr. Minoo Shroff, All India President, who was also our sponsor for the evening.

Mrs. Meher Bhesania, Director, WZCC Middle East Region, made a presentation showcasing Trade Opportunities in Dubai. She also said that members could now avail several videos from Chapter committee in Mumbai which are a compilation of WZCCME member Mr. Dadi Motiwalla, who owns a prestigious Multimedia Company in Dubai. The videos are on Free Zones and Property market in Dubai.

Mrs. Bhesania said that all 87 WZCCME members are well placed, market knowledgeable and the best in business to guide WZCC ventures. They have scheduled their time availability during the period of April 03-07, 2004, to receive the WZCCI Trade Delegation. The 'Business Board' of WZCCME has experts in the fields of Accounting, Contracting, IT, Marketing, Medicine, and Trading & Property. All trade / professional requests for assistance from Zarathushtis are directed to respective Members on the 'Business Board'. The 'Two Ways Trade Program' has already resulted in Placement of 14 Job Vacancies and location of Entrepreneurs for 8 New Industries.

Mrs. Bhesania explained that opportunities in the Middle East encompass – Construction, Food, IT and Medicine on account of tremendous development in -

1. Property at Palm, Emirates Hills, Dubai Marina;
2. Free Zones;
3. Health Care City;
4. Dubai Land;
5. Internet City;
6. Knowledge / Media City.

• Taxation - Nil for Personal.
• Establishments in UAE offer choice of: General Partnership; Joint Venture; Public Joint Stock; Private Joint Stock; Limited Liability Company; Branch office/ Representative Office / Service Company. For Expats the most popular is Limited Liability Co. (LLC), Joint Ventures, Branch office, Rep Office/Service office for Trade purposes.
  
• 'Free Zone Facilities' offer: 100% Ownership; no Personal Tax; no Corporate Tax for 50 years; 100% Repatriation of Capital & Profits; Office Accommodation : Different Types of setup would include: Branch of Foreign Company; Free Zone Establishment; Free Zone Company.
• Trade Delegation Program:

  • Day 01: Jabel Ali, Emirates Hills, Media City and Net Working Dinner;
  • Day 02: Chamber of Commerce, Visit Saif Zone (Rasna, Godrej are located here), meeting with agents, and Sight Seeing.
• Mrs. Bhesania stated that WZCCME will 'hold your hand' and show you around, based on your needs; but Business decisions will have to be taken by members interested in doing business in Dubai upon careful scrutiny of, feasibility studies, market conditions, pricing policy etc. etc. The Business Decisions would be entirely yours.
  

At the interactive session, headed by Mr. Kersi Limathwalla (Director, India Region & President Mumbai Chapter), members plied the Panel with many queries, which were very ably answered by :

Mrs. Meher K. Bhesania (Dubai)
Mr. Russi Patel (Dubai)
Mr. Kersi Bhesania (Dubai)
Mr. Noshir Motivala (Dubai)
Mr. Minoo Shroff (President, WZCC India)

Members who seek information re. Trade Delegation visit to Dubai in April are requested to contact Mr. Edil Katrak.

The Concluding Remarks were delivered by Mr. Dadi Engineer who, inter alia, stated that the UAE has become a commercial hub, post Hong Kong. WZCC has been doing an excellent job in the Middle East. Against all impediments, Indians do business anywhere in the world. There have been wonderful relationships, even at 49% Foreign Stake holding, by doing business with good people. Criminal punishment is very harsh and very strict, no matter how small a crime may appear to be in other countries.

The Emcee at the meeting was Zarine Commissariat, Programme Committee Chair.