In just a few years, the UAE economy has managed to become one of the most talked about topics globally as the UAE has become one of the important economic capitals in the world.
The history of the UAE has been limited to limited resources, such as oasis agriculture, fishing, dates and pearls.
But the UAE’s economy changed dramatically when oil was discovered, turning the UAE into one of the most important economic countries.
The UAE has made the best use of its resources and bestowed attention on infrastructure to become a destination for investors from around the world.
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Factors of prosperity in the UAE economy
The UAE’s privileged location in Asia over Europe, Africa and the Pacific has made it easy to reach all parts of the world, and ease of economic communication.
The UAE has also been characterized by a distinctive land and air transport network that makes access to all parts of the world easy and makes it an easy destination for investors without carrying the hardship of traveling or exporting around the world.
The UAE’s prime location has made it a destination for companies from China, India and Latin America, and it also has a distinctive economic position for the Middle East and the Gulf.
The UAE enjoys strong financial reserves and a distinguished and strong banking sector to provide a safe investment environment so that the government can provide the necessary financing for investment projects, the ability to meet material obligations and freedom of spending without falling into financial pitfalls.
The Abu Dhabi Investment Authority (ADIA) is one of the largest sovereign funds in the Middle East, and the fifth in the world according to the rankings of the Sovereign Fund Corporation (SWFI), which specializes in studying government investments.
The World Investment Report UNCTAD 2014 indicated that the UAE ranked 11th globally as a promising and stimulating environment for investment, due to:
- Flexibility of the laws of the UAE economy and ease of doing business.
- Stability of the UAE dirham against the US dollar and ease of conversion.
- Lifting restrictions on the re-export of profits or capital.
- Favorable tax legislation.
- Distinctive infrastructure in free zones and specialized economic zones in the country.
In an effort to maintain the position of the UAE economy , the government continues to spend on developing infrastructure such as road networks, tunnels, federal buildings and others to facilitate business for investors.
The UAE economy is based on economic strategies that help economic diversification in a number of sectors that have contributed significantly to the economy, including:
Manufacturing.
Aviation.
Tourism.
Banks.
Trade.
Services.
Alternative energy.
The UAE seeks to increase the contribution of these sectors to the national economy.
The UAE has around 45 free zones with economic advantages, such as:
- Tax exemption for company owners and exemption from import and export duties.
- 100% foreign ownership of companies.
- 100% profit recovery.
These are attractive factors for investors, which contribute to the prosperity of the UAE economy.
Investment Opportunities in the UAE
The prosperity of the UAE economy is a clear signal to start establishing your business and investing your money in the United Arab Emirates due to its promising investment environment that guarantees you many distinctive investment opportunities.
Your business in the UAE is affected by the state of the economy, so you can guarantee the presence of:
- Economic stability.
- Ease of doing business.
- Diversity of business facilities.
- Skilled labor.
- Investment incentives.
- Open economy.
- Political stability.
- Social stability.
This ensures the stability of your business and the best opportunities for the success of your investment.
AHG is a leading regional auditing and chartered accounting firm, present in the GCC and North Africa. Since 2014, AHG has helped companies operating in the UAE to maximize success. We are fully prepared to help your business in the UAE through a team of trained tax experts to prepare your business for corporate tax in the UAE.
AHG-Dubai Group serves a wide range of clients and multinational companies. This comes in light of the company’s strategy to focus on two main pillars: geographical expansion in frontier markets and driving a positive community culture. By combining our strengths and expertise in the region, we offer our clients best-in-class services tailored to their needs to maximize their investment goals in a rapidly changing environment.
