Gulfood 2016: The Gulfood that took place on the 21st to the 25th of this month has set new records by hosting 5000 companies from 120 countries exhibiting their products. About 90,000 visitors have attended the event. The Gulfood is the largest exhibition event in the GCC; a trade show for visitors and exhibitors to obtain the right exposure to enhance their business as food imports in the UAE amount to USD 100 billion each year. The world coffee champion was also announced at the Event with Konstantinos Komninakis of Greece coming in first.
5% VAT: The UAE has planned to enforce a 5% VAT on products that are sold in the country. VAT would be implemented from 1st January 2018, and would not be applied to 100 food products, bicycles, health and education. The UAE Would implement VAT a year ahead of the other GCC nations.
A hundred day action plan: Shaikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, at the first cabinet meeting has urged his ministers to come up with a hundred day action plan and to be with the people in the field and to come up with new ways to develop every sector of the country. The Shaikh has laid emphasis on the new ministries to address challenges promptly as a government is censured not by its size but by the pace at which it functions. The cabinet meeting took place at the presidential palace and was presided over by Shaikh Saif Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Interior, and Shaikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.
Dubai Food Festival: The Dubai Food Festival commenced on 25th of February, with a diverse cuisine and the finest chefs in the country for the 17-day event. A thousand restaurants and many more food trucks were flown in from around the world would be rendering delicacies at the event until the 2nd week of March.