As one of the fastest-growing economies in the world in the early 2000s, the emirate’s GDP grew by 18% between 2006 and 2007 alone, according to the Dubai Statistics Centre. The biggest achievement during this period, however, was the successful diversification of the economy away from oil. While the government was the main driving force behind this...
How are government-related entities (GREs) looking to improve support for economic diversification in the current global economic environment?
A business-friendly environment and prime location have helped Dubai maintain a long-standing reputation a centre for trade. Building on a historical model that gave tax breaks to pearl traders, the emirate has attracted foreign investment by developing free zones that appeal to investors and businesses alike. Dubai’s free zones generally offer a...
Which sectors will be targeted for development as part of Dubai’s economic diversification plans?
To what extent has Dubai adopted a more conservative and fiscally responsible approach in terms of funding its expansion since the global crisis?
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