The UAE, the second-largest economy in the region with one of the highest per capita incomes in the world, is an economic lynchpin of the Middle East, a beacon of opportunity for investors worldwide, and a base for multinational businesses operating in the region.
Why it is such an attractive investment destination is clear: an affluent society with excellent standards of living, near-zero taxes, ease of doing business, strategic location, superb infrastructure, socio-political stability, and a visionary, proactive, and business-friendly government are some of the many reasons.
Some facts and figures:
The list goes on, but the point need not be labored!
And Dubai, which has invested heavily in both physical infrastructure and socio-cultural capital, stands front and center of the UAE story. It is the perfect location for new business setups across various sectors, most prominently logistics, financial services, retail, travel and tourism, manufacturing, healthcare, education, and increasingly, green technologies.
Dubai offers entrepreneurs numerous co-working spaces, accelerators, training programs, and networking opportunities. As both a financial hub and a leading tech startup hive, its ecosystem hosts many angel investors, and venture capital and private equity firms.
This is in line with the emirate’s drive to diversify and grow its non-oil economy. ICT businesses such as eCommerce and media and entertainment play a prominent part in these plans. However, others such as metals, foods, and manufacturing are important too. And travel and tourism as well as trade, transport and logistics continue to be massive sectors. For example, there were over 16 million visitors to Dubai in 2019 which is five times the city’s population! The business potential, direct and ancillary, from that is immense.
Continuing to attract FDI is a key focus of the Dubai and the wider UAE economy. The latest pro-investment move is to allow 100% foreign ownership in ‘UAE Mainland’, i.e., onshore companies where previously there was a 49% cap.
Overall, investor and business-friendly policies continue to drive UAE’s economic juggernaut forward. The Emirates Silk Road strategy aimed at boosting global trade is another example of that. More such policies and reforms can be expected around and after Expo 2020.
Dubai Expo 2020 is the perfect opportunity for you to explore this ‘miracle of the desert’ with us.
Reach out to us at MBG Corporate Services to know more about investing in Dubai. Our services cover the entire spectrum of investing and company formation. Over and above this, we offer high quality consultancy and advisory services to grow your business post- setup. With a hub office in Dubai, long and diverse UAE experience and best-in-class consultants, we are your ideal one-stop shop to set up your business in Dubai.
We look forward to saying Ahlan! to you at Dubai Expo 2020 where will be there in full strength.