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Dubai Firms Winning Ways

DUBAI - UAE’s 18 best companies drew loud cheers at the prestigious 2008 Mohammed bin Rashid Al Maktoum Business Awards of the Dubai Chamber of Commerce & Industry.

The fourth annual business awards which is largely supported by His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, saw last year’s aspiring awardees grow to 234, more than 10 per cent from 2007, and more than 50 per cent since the awards were created by DCCI in 2005.

“The growing number of companies participating in the awards, is proof that excellence has become a wider field for competition between the companies and establishments operating in Dubai,” said DCCI Chairman Abdul Saif Al Ghurair. The 2008 business awardees met very rigid standards or criteria set by the chairman of the judging panel, Sultan Saeed Al Mansouri, the UAE Minister of Economy.

For 2008, two new categories were added — corporate social responsibility and supply chain and logistics. The other categories include manufacturing, finance, re-export, construction and real estate.

In the manufacturing sector, the top award went to the Dubai Aluminum Company. In finance, top plum went to the Emirates NBD, its third award in the same category. The Landmark Group emerged the winner under the re-export category; Al Shafar General Contracting Company bagged the top prize in construction; and in real estate, ETA Star Property Developer.

In the two new categories, the supply chain and logistics top award went to DP World. The corporate social responsibility award was bagged by S.S. Lootah Contracting Co.

“What is common in almost all of the companies that made it to the top 75 is that they have all experienced very robust growths last year, which attests to their competitiveness despite difficult conditions,” said Hamad Buamim, Director-General of the Dubai Chamber.

For the 2009 business awards, the chamber is contemplating on including new categories.

“Possibly, we will add those industries that are becoming very important and are contributing tremendously to the economy. These are the service, tourism and health care sectors,” said Buamim. Winners lauded the business awards for pushing companies to become more competitive not only in the region, but also in the global arena.

“What is so commendable about the awards is that all the participating companies after being assessed, are given sound advice. Their strengths and their weaknesses are pointed out.

Evaluators encourage companies to correct their flaws as well as exploit their advantages,” said Nawab Shaji Ul Milk, chairman of Mulk Holdings, whose affiliate Eurocon Building Industries won in the manufacturing category for companies operating in Dubai’s freezones.

rocel@khaleejtimes.com