I see a lot more movement of human capital between our countries, says WBAF exec in Dubai
Speaking at Calcalist and Bank Leumi’s "Economic Opportunities in the UAE" online conference, Lucy Chow from the World Business Angels Investors Forum discusses the role of human capital and female entrepreneurs in the UAE workforce
An exciting development in the continued normalization of ties between Israel and the UAE depends on the human capital of its citizens, says Lucy Chow, an executive at the World Business Angels Investors Forum.
“What I’m excited about is the human capital aspect,” she told Calcalist’s Ron Friedman. “Sometimes here we find it difficult to find tech developers and there’s no shortage in expertise in Israel. I personally see a lot more movement of human capital between our countries.”
Chow noted that the UAE has recently announced a ‘remote working visa’, allowing foreigners to work in Emirati businesses from the comfort of their homes during the Covid-19 pandemic.
Asked about the response to the warming of ties between the UAE and Israel, Chow responded that “I think there's a lot of understanding about the Israeli tech ecosystem. We understand and know that Israel has the most amount of tech entrepreneurs per capita. That’s just phenomenal. When the announcement was made you can imagine the excitement and who are the first people to first look at the opportunity and move things ahead? It's the entrepreneurs and the VCs.”
“There are a lot of competitive advantages to both our countries but there are a lot of synergies,” she added.
Chow said that despite having a reputation for being a more conservative nation, the UAE is ranked 26th in gender equality according to the United Nations and half of its ministerial positions are held by women. “There are a lot of misconceptions about what it means to be a female here. But there's an immense amount of support. Last month the government announced the same earning levels for make and female in the private sector,” Chow said.