The United Arab Emirates is one of the strongest and powerful economy in the world. The country’s economy was majorly build of oil-reserves in the past, but as the scenario changed and a digital rush came at the center of the globe, and the UAE played smart.
UAE started to invest in non-oil trade and realized its potential in this sector, making it one of the unbreakable economy in the world.
The United Arab Emirates, under the directives of Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the UAE and Ruler of Dubai, makes growth-intended potential investments. The futuristic approach to a well-made nation comes from strategic endeavors, which the UAE has already mastered.
To name a few:
Recently, a project of air taxi service in Ras Al Khaimah was announced, a significant milestone in the UAE’s efforts to be modern, futuristic and smart.
Also, The VIP Terminal Boulevardwas launched by the Mohammed bin Rashid Aerospace Hub at Dubai South, a new benchmark for the aviation service industry.
Masdar broke ground for a gigascale energy-producing project in the UAE. No other nation in the world than the UAE has recognized the potential of renewable energy and sustainability.
The UAE is one of the leading countries that is accelerating the adoption of AI in all of its sectors. Energy, automotive, banking etc, has been equipped with world-class advanced technologies.
Tourism also plays a key role in shaping UAE’s economy and its lifestyle. The UAE makes surplus investment to its tourism sector. Organizing global village is a prime example of tourism well done. The country has also made evident and strong progress in building infrastructure worth of spending money.
Image Via: Yas Island | Cropped by GBN
For Example, the Yas Island is a man-made leisure and entertainment hub, just 20 minutes from downtown Abu Dhabi and 50 minutes from Dubai. From award-winning theme parks such as Ferrari World Abu Dhabi, Yas Waterworld, and Warner Bros. World Abu Dhabi to incredible attractions such as the record-breaking CLYMB Abu Dhabi, and the thrilling Yas Marina Circuit, visitors are bound to discover a world of entertainment options all within the 25 sq. km island.
Strong diplomatic relations
In order to carry forward a fruitful and brotherly relation between countries, the UAE has always maintained strong bilateral relations.
Most important in this regard was the introduction of the CEPA program. Signing Comprehensive Economic Partnership Agreements (CEPAs) is key to strengthening international ties with countries around the world to build on the UAE’s position as a global trade and logistics hub.
The UAE’s strong relations is not only an agreement signing but it further expands into a potential way of building bridges, for trade, investment and economy.
The United Arab Emirates has signed 27 CEPA agreements to date, a testament to its ongoing efforts to expand as a global hub for businesses.
Moreover, according to the Henley Passport Index, the UAE passport currently ranks the 8th globally. UAE offers its citizens visa-free or visa-on-arrival access to 184 destinations.
Excellent living and working conditions
Dubai, the largest city in the UAE, is the growing center of the real estate and business realm. The fast-growing economy is also a world-class provider of smart and efficient infrastructure and living conditions. From luxury to affordable real estate developments, Dubai is a haven for individuals.
With its problem-solving approach, the UAE has adopted advanced technologies to make living conditions better for residents and citizens. It has world-class district cooling solutions.
Due to lack of natural fresh water resources, UAE leverages the thermal desalination solution to meet long-term water needs. Today, most of the country’s potable water (42 percent of the total water requirement) comes from some 70 major desalination plants. Last year, the country launched the world’s largest SWRO desalination plant.
Waste Management is an another key areas where the UAE is prooving its technological advancement. Efforts in waste management in the UAE include converting waste to energy, treating wastewater, controlling the movement of hazardous waste, protecting the marine and coastal environment from sea dumping and reducing plastic waste.
Business-friendly ecosystem
The UAE is undoubtedly a fruitful land to grow business. Introducing various policies and frameworks to support and finance startups and other businesses, the UAE is making well-curated arrangements for SMEs.
Noteworthy, the Dubai Startup Guide is a comprehensive framework to help us build a successful business in the Emirate.
