DUBAI 19 June 2018: United Arab Emirates is one of the main business centrals in the world. The country itself has certain advantages over other countries, such as: strategic location, open economy, economic stability, no corporate tax etc.
The UAE offers endless choices of business premises and locations. According to your business activity, you are at liberty to choose a place appropriate for operation whether on the mainland or in a free zone.
You can set up your business in:
- Plush business centres
- Fancy shopping malls
- State-of-the-art commercial furnished buildings and towers
- Industrial areas
- Free zones specialised in a range of industries from logistics to media, power and information technology.
The UAE has its own regulations which prohibit monopoly and encourage competition. The UAE encourages private sector growth and maintains liberal policies in terms of foreign exchange controls, visa policies and import regulations. The UAE has strong ties with key trade associations to strengthen its position as an open economy and player in the international trade and competition.
One of the most occupied sector in UAE is the oil sector. Currently, the UAE is implementing policies for a future beyond oil. But the Emirates are a country that promotes technology and health and basically represent the future, that is why they are starting to invest in the non-oil sector.
Which is going to be a totally new market and a totally new economy that will welcome investors and their ideas on how to remove oil from our everyday lives. In order for them to reach this goal they employed several strategies to promote its overall economic and social position and diversify its national income based on a sustainable and knowledge-based economy, away from the dependency on oil.
As UAE is striving to move away from oil, in January 2012, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, launched the Green Economy initiative under the slogan: A green economy for sustainable development. Under this initiative, the UAE seeks to become a global hub and a successful model of the new green economy, to enhance the country’s competitiveness and sustainability and preserve its environment for future generations.
Through this initiative, the UAE aims to become one of the world leaders in this area as well as a centre for the export and re-export of green products and technologies, and to maintain a sustainable environment to support long-term economic growth. The initiative includes a range of programmes and policies in the areas of energy, agriculture, investment and sustainable transport in addition to new environmental and constructional policies.
The Green Economy initiative includes six major fields:
- The first field of green energy aims to promote the production and use of renewable energy.
- The second field includes government policies aimed to encourage investments in green economy and to facilitate the production, import, export and re-export of green products and technologies.
- The third field relates to developing urban planning policies that preserve the environment and to raise the efficiency of housing and buildings environmentally.
- The fourth field consists of means for dealing with the effects of climate change, promote organic agriculture, maintain biodiversity and protect the ecological balance.
- The fifth field aims at rationalising the use of water resources, electricity and natural resources and recycle waste.
- The sixth field includes development and promotion of green technology.
Because of The Green Economy initiative many markets such as: renewable energy, environment friendly architecture, organic agriculture and eco friendly technologies.
- Renewable energy market is a uprising market and more and more countries around the world are starting to incorporate it in order to lower/ remove electricity bills and make the lives of their people easier. But in UAE, renewable energy has been used since 2009 and because of that, when it comes to reusing energy the country will be always a step ahead because everyday since then they are welcoming new and innovative ways to improve this sector.
- Organic agriculture and the agrotechnology sector are two different but yet connected markets that are on the rise in UAE. Organic crops were once scarce in the Emirates because of lack of natural resources. But, thanks to technology, farmers found ways they can create artificial, controlled environments where they can look out after their crops and produce organic and healthy plants that they can sell to the public. Also, the agrotechnological market is always welcome to new and innovative ideas that will help the farmers get to their product in a faster and more efficient way.
You might think that these two markets are overwhelmed, well because of climate change and UAE’s constant need of innovation and modernization, these markets will always be basically untouched, because there is a constant change that’s happening and there is a constant demand for new, faster and easier ways to accomplish something.