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Why Dubai

The past 10 years have witnessed incredible growth throughout all sectors of the Dubai economy. The emirate’s government is constantly working to improve its commercial transparency and introduce dynamic regulations that aid the formation of small and medium enterprises (SMEs) and have the ability to react to global financial challenges. 

Dubai’s economy is no longer reliant on oil, but is more diversified, relying heavily on trade, services and finance sectors. Dubai has also implemented a  strategy to make it the capital of the Islamic economy. The seven strategic directions of Dubai as a global leader in Islamic economy include: Islamic finance; halal food; family friendly tourism, Islamic digital economy;fashion, arts & design; economic education; and Islamic standards & certification. In addition, Dubai has already launched plans to be the global centre for issuance of sukuk (Islamic corporate bonds) and the establishment of an Islamic Governance Centre and the Dubai Centre for Islamic Banking & Finance.
 
With its central geographic location between Asian and European markets, Dubai has worked hard to establish itself as an integral part of the global trade mechanism. Its central location has also allowed Dubai to become a popular and accessible tourist destination.

The Department of Economic Development has been exceptionally forward-thinking, and is moving towards a more streamlined electronic services system in which most aspects of the business set up process is conducted through the internet.
 

Dubai’s many free zones are another aspect of the city’s growing economy. Established as a way of attracting more foreign investment, free zones adhere to unique laws regarding ownership, taxation and labour. Unlike businesses in the rest of Dubai, which require at least 51% ownership by a UAE national, free zone businesses can have 100% foreign ownership. Legally, companies based in free zones are considered “offshore” so they are unable to trade within the city without an agent or distributor. Free zones also tend to assist new businesses in the set up process.

Dubai Chamber Economist – Dubai Chamber
Economic Research in Dubai - Dubai Chamber
Economic research and studies from Dubai - Dubai Economic Department
Investing in the UAE - UAE Ministry of Economy
Free Zones in the UAE – UAE Interact
Statistical surveys in the UAE - Dubai Statistics Center
Why invest in Dubai? - Dubai Health Authority
Dubai for business - Dubai International Finance Centre

 

Published Date : 13/06/2017Back

RELATED GOVERNMENT ENTITIES

Dubai Chamber of Commerce and Industry
Department of Economic Development
Dubai Customs
Department of Tourism and Commerce Marketing
Mohammed Bin Rashid Al Maktoum Foundation
Dubai Airport Free Zone
Dubai Healthcare City
Dubai International Financial Centre
Dubai Internet City
Dubai Media City

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