Be it the world’s largest underground metro station, most crowded airports or tallest buildings, the Middle East can boast of it all. It has state-of-the-art infrastructure and an economy that is robust enough to support diverse business initiatives. So, why are Middle East nations among the most business friendly countries of the world? What makes business people love the UAE?
UAE: A Haven for Business People
The World Bank named the UAE as one of the world’s top 10 economies that have significantly improved the business environment. The Doing Business 2015 report noted that this country had enhanced its administrative efficiency and improved access to credit information.
- A Stable Economy: This is the most obvious advantage. The UAE is stable economy with a healthy growth rate and a fairly risk free climate. It has a robust economy that is capable of withstanding financial crises. This is among the primary reasons for foreign organizations choosing the UAE for their offshore facilities. Business worth millions of dollars can function smoothly, against the backdrop of a stable financial setup.
- Customized Legal System: Barring criminal law, all other legal regulations are customized for expatriates and foreigners doing business here. Compared to other countries, the paperwork and associated legal hassles are minimal and the processing is faster. Businessmen get quick sanctions for their ventures, which helps them get started swiftly and grow at a healthy pace.
- Availability of Superior Infrastructure: Businesses receive all the infrastructural support to operate smoothly. There is abundant electricity, high speed internet, plush offices and excellent connectivity, allowing business to operate hassle free. This is what makes UAE an attractive destination for businesses that wish to grow big within a limited timeframe.
- Availability of Superior Quality of Human Resource: Due to the high quality of life and a tax free environment, candidates from across the globe head to establish their careers in the UAE. Whether it is skilled professionals or unskilled workers, hiring can be done quickly and in a cost effective manners.
- Tax Free Zones: Places like Dubai score high in the international business world because the government does not ask for taxes up to a certain limit. Owing to the existence of these tax-free zones, companies are keener to have their offshore operations here.
So, if you are looking for one of the most business friendly countries, he UAE would be a great choice. The region also has strong trade relations with the rest of the world, including Asian nations, European countries and the US.