So, you have decided to expand your business to the UAE, or maybe you are pondering over the idea of starting a new one. Congratulations, you’ve made the right choice – the reasons are aplenty. Ease of access, streamlined and comprehendible visa process, less paperwork, fertile ground to grow your ideas and innovations, open and welcoming society, world-class technology infrastructure, supportive government, and visionary leadership – all the ingredients required for successful business are strategically placed here.
Since its foundation nearly 50 years ago, the country has rapidly shifted from an economy once dependent on fishing and pearls to a financial and economic powerhouse. The country is blessed with a geographic location that makes almost two thirds of the world’s population accessible on a six-hour flight. Efficient road, air and sea connections, high subsidies, a professional environment and the presence of world’s best talent make the UAE an attractive hub for businesses wanting a base for their Middle East and North African operations and further expansion.
But this isn’t all. The UAE is home to a wide range of cultural and economic variations, has a stable and enabling political system, capital flows are based on strong revenue streams, the tax environment is friendly and trade laws are highly favourable. The UAE in itself is an example of how resilience and commitment can turn a little-known country into an economic, tourist and commercial capital for the world’s population to live, work and visit.
We sum up the eight reasons why the UAE is a well-regulated and secure economic ecosystem and why it should be your next business destination.
1. Fastest to recover from Covid-19: Any leadership foundation can be judged by how it responds to challenges. The latest and one of the gravest challenges facing the world, the Covid-19 pandemic, has been dealt with so well by Dubai that it is on the road to becoming one of the fastest geographies to recover from the blow. This is a compelling reason to trust the economic environment of the Emirate.
2. Visa facilitations for professionals: There is a lot Dubai, and the whole UAE, is doing to attract the best professionals. The Dubai Virtual Working programme, the Retire in Dubai programme, and the 10-year Golden Residency Visa are all examples of how keen Dubai is to retain talent and attract foreign professionals and encourage them to settle here. This is a great boost for businesses and entrepreneurs from all over the world.
3. Untiring support to SMEs: At a time when most businesses were shut down globally as a result of the Covid-19 pandemic, Dubai’s leadership has provided exemplary support to SMEs and start-ups. This has led to an increase in trade and the emergence of many innovative ventures to respond to the pandemic.
4. Accessible geographic location: Dubai is situated in the heart of the UAE, a country located in the Arabian Gulf, bordered by Oman and Saudi Arabia. Placed right in the middle of the Gulf countries, the Indian subcontinent, the Commonwealth of Independent States (CIS) and the African region, Dubai enjoys a tactical position that enables it to offer unrestricted prospects across a wide range of sectors.
5. Multi-cultural/multi-lingual society: Dubai is home to people from over 200 nationalities, all of whom live and work in harmony and in unison. This means that no matter where you bring your business from, no matter what part of the world you belong to, Dubai will always feel like home. This makes it easier and much more socially fulfilling to do business, as you are likely to find people of your nationality who are already living and working here.
6. Exemplary leadership: Dubai has grown to towering heights, and the credit goes to its capable leadership. The foundation has been laid right from the very beginning to make Dubai a welcoming destination and a hub of all things global. The leadership of the Emirate continues to inspire all living and working here to do better with each passing day. Right leadership works as a reward for business, leading to human values such as sympathy, compassion, and giving.
7. A promising and bright future: Dubai plans to further cement its position as an economic, technology, innovation and business hub. It seeks to be number one across fields, working in parallel with plans such as the UAE Centennial 2071 and various short-term goals that define targets for each industry and sector. Dubai is poised to grow, and there can be no better choice for your business.
8. Magnet for foreign investment: Dubai attracted Dh12 billion in FDI through 190 projects in the first half of 2020 despite the coronavirus pandemic. The city ranked sixth in the global attraction of foreign investment over the six-month period and first in the MENA region.
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