There is much that other countries, particularly developing economies can learn from Dubai. Paramount among them is the way that Dubai manages to attract investment. Dubai makes it easy for people to start and do business here, the infrastructure is world class, it welcomes people of all regions and faiths; plus the UAE offers development oriented governance. Here are some of the reasons why Dubai is such a favourite among investors and new businesses:
Dubai has steadily risen in the ratings of the World Bank's Ease of Doing Business index. Dubai’s ranking went up from 26 in 2017 to 21 this year. The fact that it is easy to get credit, trade across borders and access electricity encourages people to invest here.
According to the Gulf Cooperation Council or the GCC, Dubai has been and still remains the top destination for businesses and new investors in the Gulf region.
1,221 new trade licences were granted while 17,710 transactions were completed in just the last month. 1,475 new approvals were granted whereas 9,071 licences were renewed.
Dubai is ranked at No 1 in terms of economic performance in the Arab world and fourth overall in world. This makes the region a magnet for investment inflows; making it all the more attractive for new businesses and startups.
It is possible for expats to buy freehold property or to lease property in Dubai. There is no embargo on this. This makes it easy for businesses and individuals to set up businesses here and also to invest in property. The ease of renting out property to get an income as well as good resale value also adds to this.
Indian businesses love doing business with and in Dubai. Savvy Indians also buy property here because it is a sound investment. For Indians, this is also an affordable property purchase destination. Events such as the Dubai Property Show in Mumbai encourage this. Is it any wonder that the biggest expat community in the UAE is that of Indians!
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