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Minister to head up Isle of Man delegation to UAE

United Arab Emirates: Wednesday, November 23 - 2005 @ 10:14

The top level delegation will include representatives of the Isle of Man Financial Services and e-commerce business executives, along with international finance and shipping legal experts.

The high profile delegation will begin a week-long visit to the Emirates on 25 November.

The inward mission is aimed at building new and existing contacts to further regional business links between the UAE and the Isle of Man and comes as the island recognises the spectacular investment growth taking place in the Emirates.

“The Isle of Man is witnessing growth in companies wanting to access its telecommunications infrastructure and associated tax benefits. A number of Isle of Man banks and other businesses already have full representation or joint ventures in the Gulf region and are looking for opportunities to further relationships through this visit,”

said Andrew Smith, Relationship Manager, Middle East.

The mission has been arranged by Isle of Man Finance, the government body responsible for promoting the island as an international finance centre. It follows on high level political and regulatory visits which have been organised previously by the Isle of Man Government over a number of years.

“This is a firm demonstration of the importance the island places on its commercial links with the United Arab Emirates,” added Smith.

Complementing development taking place in Dubai, the Isle of Man has itself become one of the world’s most respected and successful international business centres and boasts AAA sovereign credit ratings from Standard & Poor and Moodys.

“These accreditations are founded on the island’s economic strength and political stability, underpinned by a diverse array of international financial, e-business and shipping industries, operating in a well regulated, tax neutral environment,” said Smith.

Other senior Isle of Man government officials in the delegation include: Tim Craine, Director, E-Business; Anne Blythe, Registrar of Ships and Steven Beevers, Development Manager, Isle of Man Finance.

“Bringing together such a sizeable group of businesses with their counterparts in Dubai represents a great opportunity to cement relationships we have built over the past decade. We very much look forward to facilitating every opportunity to meet with interested parties while in Dubai,” added Smith.

The Isle of Man is also renowned for its success in the field of hosting and disaster recovery, electronic money provision, software development and interactive entertainment.

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Wednesday, November 23- 2005 @ 10:14 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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