UAE is one of the fastest emerging markets in the region. With its business-friendly rules and regulations and thirst for growth, it is attracting more and more foreign investment and startups every day. Rising from the barren desert UAE’s skylines and modern cities have displayed a tremendous piece of dedication and urge to growth and development, that is why it has successfully gained the reputation of an ideal business hub. Winning the bid of hosting expo 2020 by Dubai is a clear evidence of global trust and recognition to UAE’s economic and growth achievements.
It is admirable that UAE has adopted rules and regulations that not only helped in fast growth of the country, but also provided a safe and competitive business environment to the global business community. No doubt UAE has proved itself as a leader in the region embracing innovation, acceptance and implementation of global regulations that opened the doors for investors from all the parts of the world and especially from the west to invest in UAE’s modern thinking and friendly working environment.
Dubai and Abu Dhabi plays a vital role in UAE’s economy, it can be understood with the fact that more than seventy-five percentage of its GDP relies on Dubai and Abu Dhabi. UAE no doubt has a very strong economy as it survived three one after another economic crisis in last 3 decades. Economic crises in 2008 effected severely to UAE that slowed down its growth for a while, but with sensible and correct economic policies it successfully overcame this break in the process of growth and development. These economic policies are attracting foreign investors to come back to be the part of its rapidly recovering economy.
For a foreign investor, legal status is always a primary area of interest before investing in any part of the world. This also applies to when they want to start business in Abu Dhabi. Money plays a vital role in business world and every country want more and more overseas investment. That is why UAE offers business visa to foreign investors so that they can operate and grow their business smoothly. UAE government is so keen to get the attention of foreign investors and for the same purpose these business visas are designed to cover the needs of existing and new investors to settle and operate in UAE.
As UAE is working hard to attract foreign investors and skilled workforce, so there is improvement being made in Employment Law. It is a fact that UAE’s Employment laws are not as ideal as in the west, and still there is so much to do in this regard, in 2008 world economic crises this issue highlighted most when thousands of employees felt without any support and decided to go back to their countries. Still UAE has a much safe working environment in the region and authorities are taking this seriously to match employment laws with western standards. Free zones have implemented comparatively better employment laws and both UAE authorities and Free zones are correcting and improving them with time. Click here for more information in this regard.