Dubai Introduced Dynamic Recession Proof Economy with an Integrated Business Management System
Dubai has a powerful economy and it defies even advanced countries. Though global recession affects major powerful countries in Europe and Asia, Dubai emirate has better economic infrastructure with safeguards to overtake the financial crisis. The recession is being tackled boldly by Dubai. On the other hand, China is experiencing an economic slowdown. Thesudden fall inprices of houses, global recession, tension in SouthSeaandinternalinfightingbringmore turmoil to PRCto bear. Dubai outperforms Chinese economy as it has increased its GDP growth with the expansion of the business in different spheres. Dubai is a recession proof city with strong economy.
Dubai –Mecca to International Investors to Start New Business Venture
Profitable crude oil upstream and downstream projects in Dubai must be productive. The government of Dubai earns handsome foreign currencies by exporting crude oil and gas. It is a powerful seller to export oil to many European and Latin American countries. Even in spite of the sudden drop in the oil prices, Dubai has not lost control. It has reserved or stored crude oil to combat the crisis. Economists are very optimistic while evaluating the economy of this emirate of UAE. This modern city is becoming the most convenient place for international financers and entrepreneurs to spend money for business growth. The free trade policy, the tax exemption to buy land and liberty to open large hotels/luxurious resorts in Dubai really attract foreigners for investment. Comparing to Chinese conventional government controlled economy; Dubai has restructured its economy by creating more vistas for entrepreneurs to do the free trading. The environment in Dubai is suitable to aspirant businessmen who want to promote new products. They locate the best niche for money investment. Apart from oil industry, the tourism, construction, hotel and luxurious goods exporting industry in Dubai must be profitable. The tallest building in Dubai is Burj Khalifa which is over 800 meter wilt exceptional interior décor. This eco-friendly building provides the space for business expansion. Besides, there are many new housing projects which will offer few more skyscrapers, and air conditioned luxurious buildings. So, super tall building construction industry is booming in Dubai. It will invite rich and affluence investors from Europe to buy these billion worth skyscrapers to start their business.
Dubai Welcomes Innovation and Modernization to Smarten Up Economy Dynamically
Dubai has not detached itself from innovation and modernization. People in Dubai use smart phones, laptops, computers and sophisticated gaming consoles. They drive aerodynamic cars and spend night in opulent resorts which have all modern amenities ranging from internet, wireless intercom, superb audio systems, ultra sleek plazma interactive television sets, and internet of things. They operate their offices through mobile miniature workstations. So innovation is a part of the business in Dubai. Corporate offices have been remodeled installing cloud based mainframe computers with IOT enabled infrastructures to manage the business efficiently.
Dubai Reinforces Its Economy to Tackle Recession
Dubai has taken new boosters to fight with recession. It opens new business channels in biotechnology, medicine and renewable energy. Dubai Science Park is the rendezvous of local and international pharmaceutical companies, bioengineering firms and genetic research institutes. It gives business growth opportunities to talented entrepreneurs to establish large scale companies. The healthcare industry in Dubai is improving as many international pharmaceutical companies are opening new subsidiaries in this emirate. So, the competition is higher in Dubai. Government trains youths to become qualified professionals with good entrepreneurial quality to operate business skillfully.
Dubai Opts for Fast Switchover from Traditional Oil to Housing /Real Estate /Flipping Market
The way of investment in Dubai has taken a fast switchover from oil industry to the lucrative real estate/housing/properly flipping market. Especially in real estate market, investors are given good tax exemption to buy property. The property flipping market is expanding. Investors and business owners are not liable to pay direct taxes on the total profits save and except oil industry. As per new law, oil companies clear 55 percent flat rate and the foreign banking sectors are liable to bear 20 percent flat rate to pay taxes. Custom duty tax is 4 percent with good exemptions. Besides, there is stable or fixed foreign currency exchange rate between US and Dubai companies. Right now, it is US$1.00=AED 3.678.Visa issuance policies have been modified enhancing good flexibility in paperwork. Therefore, international investors are not facing excessive trouble and obligation to visit Dubai to start their business venture with enthusiasm. Trained and skilled employees are given good salaries, emoluments, and healthcare packages for better lifestyles. So, the faster economic development in the city of Dubai is very palpable.
Lastly, Dubai will stand with resilience to tackle downtime in global economy. Cheap oil prices will not put this emirate in jeopardy. It will be an unbeaten competitor by 2020 to outperform the second largest economy of PRC.
Please contact Amir, if you would like to discuss potential business opportunities or expansion in Middle-East