Recent times have seen Dubai’s industrial sector emerge from the downside of the 2008-09 global crisis, with order books growing and confidence returning. The expectation of major future business is also strong, particularly since the emirate was awarded Expo 2020. Though there is an underlying mood of caution among many, this new conservatism has been generally positive...
Over the past decade, Dubai has made great strides in opening up new avenues for economic growth, becoming a strategic hub for international businesses to reach nearby emerging markets. This development has been guided by an economic diversification plan focused on key sectors that can accelerate growth, not only in Dubai and the UAE, but also the entire region....
The global economic crisis has placed a greater importance on the need for strong corporate governance, internal auditing and risk management procedures. Sound corporate governance is a crucial factor in sustaining economic growth, and as conditions change, so too must risk management priorities.
The federal government of the UAE has not promulgated any tax laws and, as a result, much of the existing tax structure in the emirates has been established by the individual emirates, which have issued varying corporate tax decrees. While this seems like it would lead to confusion and hamper the business environment, in practice, taxes are only imposed on oil- and gas-...
In 2011 the Dubai government released Dubai Urban Plan 2020, setting out its objectives for the emirate’s urban environment. Key themes include sustainability, integrated land use planning, transport networks and affordable housing for all. Since this time, two important events have taken place: the announcement in 2013 that Dubai will host Expo 2020 and signs of a...
In line with its visions for an excellent infrastructure, progressive leadership, political stability and a world-leading business environment, the UAE government has announced new initiatives aimed at attracting foreign investors and enhancing existing foreign investments. One such initiative was the long-awaited revised UAE Commercial Companies Law (UCCL), which was...
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