Queen of Green FZE
Ambassador G Wallace Hope briefing to HH Shiekh Khalifa
Sep 10, 2014
Sept 2011 Briefing on Economy, Environment and Sustainability
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Queen of Green FZE
HH Sheikh KhalifaSeptember 2011 – H. E. Gill Wallace HopeBarriers to empowering growth in UAEI am publishing my briefing for HH Sheikh Khalifa as very little attention is being put on removing the barriers to get the UAE and Middle East economy growing again. We must deal with the causes of the Arab Spring not just the symptoms. I am supporting countries to grow their economy and provide a new entrepreneurial platform for the 100 million unemployed youth in the region.
For UAE we need to:1) Call the banks to increase lending and speed up processing time for the SME’s (Small, Medium Enterprises. The 51 banks in the UAE have 2 trillion dirham’s in cash and over 3 x the minimum level of reserves. The World Bank says that a healthy economy should have 21% of capital provided for the SME’s. Europe has 13% and UAE only 0.5%. Good businesses that survived the crisis, kept workers and have won new contracts cannot start because they have no working capital.Working Capital is the life blood of the economy, money must flow, and circulation keeps the economy alive and healthy. The banks must simplify their processes and respect the entrepreneurs’ time. New projects and contracts are knowledge economy and have different ingredients than the industrial age projects. Also, the new projects are international public private partnerships where resources are coming from all over the world. UAE has 97% local projects and only 3% international finance...this needs to drastically shift.
2) Visa’s for business visits. Many investors and business people are being rejected for Visa’s or being asked to provide 5,900 aed guarantee and processing fee.Blocking genuine investors with registered overseas companies is not good for business. Asking them to guarantee their exit with 5000 aed is seen as an insult. We can have a team dedicated to visit Visa’s for investors and give jobs to some of the 85,000 unemployed Emeriti’s to run an efficient and effective service and welcome investors to UAE.
3) The recent Citibank report shows that of the Construction projects cancelled or delayed in the Middle East, 53% are in UAE and valued at $170bn. This income is vital for the economy and for sustainability of businesses and jobs. The oversupply of labor is now balanced from workers returning home however, there are many buildings at 25, 50, 75% + completion. No investor or property fund will purchase an incomplete building. Construction companies in Dubai are even considering demolishing some buildings that are 10-25% completed in order to reduce fines. NBD received a 100% guarantee from the government of Dubai to provide loans to construction companies that are 75% + complete so they could finish and recover their investment through a sale. I personally met with the Director in charge of the Program and he was extremely negative and had not authorized one loan! It is important for programs to re-build the economy to work to provide solutions that all stakeholders require instead of passing risk to each other and still having the problem! We need a multi-skilled team in one office to receive applications and process them within 72 hrs with a fixed list of documents required from the construction companies for what they need and bring the financing, guarantees, contractors and employees together to achieve completion.
4) Multi-property investment funds from Japan and China can purchase a portfolio of properties at an agreed block price and inject much needed capital into the construction industry improving cash flow and liquidity. Many experienced negotiators and real estate advisors have tried to purchase blocks and been told they have to apply for one property at a time! No business person is going to process 400 separate transactions! We need a team of very experienced negotiators to get inventory/prices from the Boards of the Property Companies and then package them for the Japanese and Chinese Funds.
5) $1bn of FDI from Frankfurt, Germany is being held up for 3.6 million aed closing expenses. The value to UAE of the total Program is $100 bn in cost savings, increased export of self-consumed oil and gas, sustainability and international prestige. ADIA, ADIC or Mubadala can act on this immediately.6) International Public Private Partnerships must be promoted as an ideal way for UAE to collaborate with the international community. All projects in the world are now GLOCAL...they have a GLOBAL and LOCAL element to them which are exciting. UAE must embrace working horizontally across the world to cooperate and collaborate in these new opportunities.
7) G192 project and Aldar – An international Public Private Partnership is being held up for 14 million aed. As Formula 1 is to sport - G192 is to International Trade and DevelopmentThe G192 project brings 400 senior negotiators from the 192 countries recognized by the UN plus their families and support teams to Abu Dhabi. 400 Villas, townhouses and apartments will be bought or leased and the world will come to Abu Dhabi to negotiate trade and development deals.All Countries are ready to sponsor their teams, the housing is ready and systems have been designed. 14 million aed will fund the first year’s expenses and is requested as a grant from Khalifa Fund or Foundation as it is in harmony with HH Sheikh Khalifa’s combined humanitarian and entrepreneurial visions.
8) Decree 42 of 2009 – we must accelerate the scale and speed of implementation of this decree to ensure sustainability of the Villas, Mosques etc through Queen of Green Makeovers on 58,791 Villas in Abu Dhabi and 5,000 Mosques throughout UAE. By transforming every non essential building from an energy consumer to an energy generator, we can sell energy to businesses at a higher price and export more self-consumed oil and gas. By collaborating with Queen of Green, Dept of Environment, Abu Dhabi Municipality, Islamic Affairs, Contractors and unemployed youth it is possible to complete this transformation within 3 years.
9) 85,000 unemployed Emeriti’s can be given an opportunity for vocational training on-site and transform to green workers. We can set up a multi-department team to connect Emeriti’s that want to work with the Teams working on the Queen of Green villas and Mosques. They can train in real-time with m-video to their mobile phone and directly with the teams on site until they are confident and can head a team themselves. Knowledge transfer then technology transfer is the best way to give Emeriti’s the ‘Why, What, Where, When, How’ process they need to be effective in the knowledge economy.
10) Queen of Green makeover on Burj Khalifa – an important landmark project to transform the very expensive operational budget of Burj Khalifaand set the standard for transformation across UAE. Queen of Green will transform 14 processes to transform BK from an energy consumer to an energy generator. The same process can be applied to HH Sheikh Khalifa’snew Palace during the final construction phase so he can live in the world’s largest green Palace.11) Khalifa Fund employees – training on International Public Private Partnerships and Knowledge Economy businesses so they can ask pertinent questions and recognize great opportunities for Emirati’s to participate.
12) “You can’t eat a Villa” - Accelerate putting the farms back into production. There are 250 farms with 1000 workers in Sharama costing the Government 9 million aed per year with no crops! 400+ farms in Al Khattam and 1200 workers at a government cost of 36 million aed with no crops! This is haram and crazy as we only have 3 weeks of food security in UAE! So empowering the farmers to go back into production of fruit and vegetables is a cost effective policy and producing local food for Emeratifamilies to enjoy is important also. Each farm can be put into production growing 40 crops for 500,000 aed each and start revenue within 14 days. All contractors are ready to ramp up this program and Queen of Green will manage the project on behalf of Emeriti owners for a revenue share.
13) Date trees in UAE one of Sheikh Zayed’s Legacies - 47 million trees that consume CO2 and deliver O2 for humans to breathe. A Government Dept wants to burn 37 million and reduce them to 10 million! We can create youth micro-enterprises where they can take care of 1000 trees each by monitoring their health, water and productivity. Farm Services Center can provide the Membership and management of the trees and pest and provide treatment for infected trees. International partners can support the program with resources and media coverage.
14) Blocking and Bribes are slowing down great projects. UAE can adopt the Sunlight Foundation transparency policy. We can educate government managers to see time, IP and processes as assets with their role to speed up access and implementation not block it or request bribes to gain access for important projects. We can have a Federal team who can greet all international projects and sit one day every two weeks, the inventor or investor can pitch their project and receive a UAE Star which alerts all government offices to cooperate and collaborate to fast track the approvals and paperwork so momentum is captured and the project moves swiftly through the system. Universities and schools can also volunteer to collaborate with UAE Star projects to learn cooperation and collaboration in action.
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