High subsidies, a professional environment, the presence of the world’s best talent, efficient roads, as well as air and sea connections, make UAE an attractive hub for business. It is especially an ideal destination for brands wanting a base for their North African and Middle East operations, and further expansion.
Kavan Choksi mentions that ever since its foundation almost five decades ago, UAE has managed to rapidly shift from an economy that was dependent on pearls and fishing, and emerged as a financial and economic powerhouse.
Kavan Choksi briefly sheds light on the factors that make UAE an advantageous business center
UAE is home to a number of economic and cultural variations. It has an enabling and stable political system, a friendly tax environment, and favorable trade laws, and its capital flows are based on strong revenue streams. The UAE itself is a great example by itself of how commitment and residence can turn a barely known nation into a commercial and economic capital for the world’s population to live and work in.
The UAE boasts a stable and well-regulated commercial environment that is renowned across the world for several reasons, its world-class infrastructure and service sector being among the most important ones. Owing to its wise policy of aggressively investing in industrial infrastructure, electricity, telecommunications, and transportation, the UAE is known to have one of the best infrastructure facilities on the planet. This policy is known to have long-term prosperity and appeal to foreign investors in the nation. Leading international and regional freight forwarders, banks, and shipping companies are some of the top examples of the sophisticated service sector that supports its world-class infrastructure.
Kavan Choksi, a popular business and finance expert, underlines that the UAE has a pretty expansive international trade network that spans 179 nations. It provides investors with a diverse range of potential global marketing outlets for a diverse portfolio of services and goods. The UAE is also one of the largest export and re-export hubs of the world, coming right after Singapore and Hong Kong. UAE has established export diversification policies or multilateral trade laws that allow citizens to engage in free trade across all business types to boost its position as a developing economy that promotes international commerce. The UAE government strives to encourage and facilitate foreign investment by providing a variety of incentives to those who want to set up a business in the country.
At a time when many businesses across the plant were shut down globally due to the Covid-19 pandemic, the leadership of Dubai provided exemplary support to SMEs and start-ups. This led to a major increase in trade and caused the emergence of many innovative ventures to respond to the pandemic. Over the coming years, UAE has plans to further cement its position as a hub for business, technology, and innovation. It seeks to be number one across multiple sectors, with plans like UAE Centennial 2071 and many short-term goals with definite targets. UAE is poised to grow in the coming years, and, therefore can be no better choice for setting up a business.