The eagerly anticipated public-private partnership (PPP) law came into force in November 2015, ushering in what could be a new era in infrastructure development. The idea is to empower investors, both foreign and domestic, to take a bigger long-term role in financing and operating large projects. The law is expected to have an immediate impact...
The economic narrative of Dubai has shifted in recent years, from passage through its first financial crisis as a major player in the global economy to a more forward-looking version of itself.
While in 2015 the world’s emerging countries and fastest-growing economies suffered due to low commodity prices and currency depreciations, Dubai still enjoyed steady GDP growth at around 4% and an increased drive towards consolidating its position as a knowledge-based economy. With a well-diversified model and a set of transformation-oriented...
One of the core features of Dubai’s banking system is self-reliance. In what is generally a well-capitalised part of the world, lenders have been able to minimise their participation in global lending markets, and have not historically experimented with unconventional foreign securities or worried about what would happen if international...
What are the main themes and aims of Dubai Plan 2021, and how does it complement the UAE Vision 2021 strategy?
With crude oil prices low and seen as unlikely to return to levels above $100 in the next few years, the matter of taxes has been pushed to the forefront of debate in Dubai. The establishment of some form of general taxation has been one of the longest-running political issues in the emirate, the UAE and the wider region. With public revenues...
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