Creating a solid industrial base, together with a very strong trade and service sectors.
Establishing more than 40 free zones.
Offering significant incentives to investments outside the free zones (UAE Mainland).
The reform of property laws gave a major boost to real estate and tourism industry.
Had turned the UAE into one of the top competitive economies in the world.
Since its establishment in 1971, the UAE had the highest level of political stability in the region, this has implemented consistent economic policies and reinforced the country’s social structure to produce one of the most tolerant, secure and safest societies in the world.
Free zones offer 100% foreign ownership, 100% Tax exemptions, profit, and capital repatriation.
Outside the free zones corporate taxes are reserved only for branches of foreign banks and oil-producing companies.
The UAE’s strategic location and its proximity to the world’s fastest growing economies and industrial giants China and India, had turned the country into a major transit hub for trade navigations between Asia, Europe and Africa.
As trade activities increased over the years and more foreign businesses set up onshore, the shipping industry became one of the biggest in the entire world.
Having nearly half of the world’s internationally trading fleet of ships and tankers passes through UAE waters twice a year, other services as ship repair, catering and refueling, seaports handling and infrastructure made the local maritime and shipping sector a major income generator, expected to hit $27 billion by 2015-2016 due to a surge in import and export trade volumes and upward trend of local manufacturing creating over 75,000 job opportunities.
The growth of aviation industry in terms of passengers, cargo, Airport and airplanes related services with expectations to contribute $53 billion the country’s economy by 2020, with more than 170m passengers expected to pass through UAE airports over the next 5 years making the UAE the world’s busiest airport system.
Intellectual property, including patents and trademarks, is legally protected and considerable efforts are made to implement these laws. The UAE is also a member of international bodies, and treaties that safeguard intellectual property, including the World Intellectual Property Organization (WIPO), World Trade Organization (WTO), Paris Convention, Patent Cooperation Treaty (PCT), WIPO Copyright Treaty, WIPO Performances and Phonograms Treaty (WPPT) and the Rome Convention.
Infrastructure in the UAE is good. Telecommunications, including mobile and fixed telephony as well as internet access is on par with the world’s largest international business hubs. The road network is constantly upgraded and ports and airports are of world-class standards. In addition, the UAE is creating one of the world’s biggest and most efficient cargo handling centers. To date, the Government has invested heavily in infrastructure development, but it has also opened up its utilities and other infrastructure to greater private sector involvement, so much so that public-private partnerships are now the norm.
Investors benefit from an abundant supply of human resource skills, courtesy of professionals migrating to the emirate from nearly every country in the globe, as well as the increasing number of UAE nationals that are joining the private sector.
E-government websites, free zone authorities as well as chambers of commerce and industry provide new entrants with helpful information and guidance.