Growing and Diverse Economy
Dubai is the most successful economy with the GCC region as it has been able to effectively steer away from its dependence on oil. It has also been able to overcome many economic challenges (such as the recession in 2009) with very strong growth over the last two years.
In order to attract more foreign investors, Dubai continuously strives to improve its investment laws, regulations and incentives. Dubai was the first emirate that allowed for foreign ownership to its property market which was later also introduced by Abu Dhabi.
Due to the size and complexity of its two ports (Port Rashid and Jebel Ali Port), Dubai has been able to successfully dominate the cargo and re-export markets. Both the ports are the busiest in the world with a range of 63 to 35 berths between the two.
Emirates Airlines in Dubai’s has one of the world’s largest airline with 160 aircraft that go to more than 120 destinations and plans on expanding its fleet by 2020 to 280.
Availability of Manpower
UAE has one of the most easy and cost-effective approaches when it comes to recruiting employees because of its liberal labour policies. In order to compete and be dominating members of the economy, the government of the UAE invest heavily on training the national workforce in order to help them achieve this objective.
Investment Support and Promotion by the Government
Dubai’s Department of Economic Development (DED), supports the emirate’s transformation into a diversified, innovative, service and knowledge-based economy to increase productivity and expand the business environment. The DED and its four organizations create economic arrangements and approaches, distinguish and bolster vital divisions, and give key organization administrations to residential and worldwide speculators and organizations.
Dubai Free Zones
Dubai has many free zones that are able to offer many opportunities for foreign investors one of which is providing them with the option of having 100 per cent ownership of their company. It also has no income tax for not only companies in the free zone but also the mainland however it does act as one of the biggest incentives for foreign companies to come and set up their business in Dubai.
Quality Lifestyle and Culture of Excellence
Dubai has become one of the world’s most preferred expatriate locations. Not only is it the fastest growing city in the world, but it is also considered to be one of the safest. It is also known for having the tallest building in the world, largest marina that is man-made, some of the more extravagant hotels and more than 200 nationalities residing and contributing to the culture and community of Dubai and UAE as a whole. It also has a very unique heritage that is always integrated in its many attractions, world-class shopping and entertainment facilities.
The wise leadership and vision of some of Dubai’s leaders has helped revolutionise the city into one of the world’s most successful and vibrant cities. The extensive plans for the future have helped the city move away from being an obscure trading town into a major player on a worldwide scale.
These advantages include:
- Zero income tax imposed
- Very Little Import Duty
- Double Taxation Agreements
- Free Trade Agreements
- Strong and Competitive Economy
- Strategic Location
- State-of-the-art Infrastructure