Doing Business in the UAE
Welcome to the Dubai office of the Export to Group here in the UK. Our business exists to help businesses like yours develop and prosper in the vibrant markets of the Middle East. We offer market entry and ongoing support to international companies who have selected the UAE either as a target market or the entry point to the Middle East market for their products, services or technologies. We also offer our UAE clients assistance regarding investment and trade opportunities in other markets where we have a local presence and will match their sourcing needs with the appropriate products and services from the best possible suppliers around the globe.
Export to UAE- a few facts and figures
Since its Federation in 1971, the UAE has developed rapidly and is now noted for its modern infrastructure, international events and status as a trade and transport hub. It possesses among the highest per capita incomes in the world.
he UAE is the Middle East’s second largest economy after Saudi Arabia and one of the wealthiest countries in the region on a per capita basis. The UAE is the eighth largest producer of crude oil and 18th largest producer of natural gas in the world, with January 2012 reserves estimated at 97.8 billion barrels and 6.09 trillion cubic metres, respectively (ranking eighth in the world for both commodities). Its estimated GDP in 2012 was US$284.4 billion, a real GDP growth rate of around 3.1 per cent.
The economy is dependent mainly on oil and natural gas but successful efforts at economic diversification reduced oil- and gas-based output to 25 per cent of GDP in 2011, while goods and services accounted for an estimated 87.5 per cent. The UAE population of about eight million depends substantially on its expatriate workforce, which made up about 88 per cent of the workforce and 80 per cent of the population in 2012. Free trade zones attract foreign investors by offering full ownership and zero taxes
Despite global economic downturn, the UAE economy continues to grow and the overall economic outlook is positive. Hydrocarbons provide the largest single source of income for Abu Dhabi. Dubai’s hydrocarbon reserves are far more limited so the economy has had to be more diverse. This is helping to make Dubai the region’s business, logistics, media and leisure hub.
The UAE has diversified its economy. Non-oil sectors now make up approximately 70% of GDP. This will help to make the country’s revenue sources more balanced and create a sustainable economy that can withstand long-term oil price volatility. The award of EXPO 2020 to Dubai is forecast to boost the economy by US$23 billion. This will result in opportunities across many sectors particularly in hospitality and construction.
Other positive factors for growth include:
UAE’s well-established infrastructure
strong banking system
stable political system
the number of free trade zones that can allow 100% foreign ownership and a nil taxation regime
ongoing and new developments including Sadiyaat Island in Abu Dhabi, Mohammed Bin Rashid City in Dubai and the Fujairah Master Plan.
To make a success of your business in the UAE contact our office today
Export to UAE
P.O. Box 49010, Dubai, UAE.