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Uae
- 1. TOPIC GROUP • NAME
- 2. UAE CAPITAL ABU DHABI LARGEST CITY DUBAI OFFICIAL LANGUAGES ARABIC GOVERNMENT FEDERAL PRESIDENTIALABSOLUTE MONARCHY
- 3. GDP (PPP) 2013 ESTIMATE - TOTAL $272.0 BILLION[4] (48TH) - PER CAPITA $29,176[4] (32ND) GDP (NOMINAL) 2013 ESTIMATE - TOTAL $396,235 BILLION[4] (28TH) - PER CAPITA $43,876[4] (19TH)
- 4. ECONOMY • SECOND LARGEST IN THE ARAB WORLD • GROSS DOMESTIC PRODUCT (GDP) OF $377 BILLION (AED1.38 TRILLION) IN 2012 • UAE HAS THE MOST DIVERSIFIED ECONOMY IN THE MIDDLE EAST • 71% OF UAE'S TOTAL GDP COMES FROM NON-OIL SECTORS • TOURISM IS ONE OF THE MAIN SOURCES OF REVENUE IN THE UAE • DUBAI HAS ALSO DEVELOPED INTERNET AND MEDIA FREE ZONES, OFFERING 100% FOREIGN OWNERSHIP
- 5. • THE UAE GOVERNMENT HAS WORKED TOWARDS REDUCING THE ECONOMY'S DEPENDENCE ON OIL EXPORTS BY 2030 • OVER THE DECADES, THE EMIRATE OF DUBAI HAS STARTED TO LOOK FOR ADDITIONAL SOURCES OF REVENUE TOURISM AND INTERNATIONAL FINANCE
- 6. WHY YOU SHOULD START A BUSINESS IN UAE • SETTING UP A BUSINESS IN THE UAE IS VERY EASY AND STRAIGHTFORWARD • UAE ENCOURAGES FOREIGN INVESTORS TO INVEST IN THE OIL-RICH COUNTRY • TAXATION IS MINIMAL AND MOSTLY NON-EXISTENT
- 7. • OFFERS EASY ACCESS TO THE 1.5 BILLION CONSUMER MARKETS SITUATED IN AFRICA, WEST ASIA, CIS COUNTRIES, EASTERN EUROPE, AS WELL AS THE NEIGHBORING MIDDLE EAST COUNTRIES • PROCEDURES FOR SETTING UP NEW BUSINESSES HAVE BEEN SIMPLIFIED BY THE GOVERNMENT • BUSINESS LAWS THAT ARE REALLY FAVORABLE
- 8. TOP SMALL BUSINESS INVESTMENT OPPORTUNITIES IN THE UNITED ARAB EMIRATES • CONSTRUCTION • OIL AND GAS • FINANCIAL SERVICES • FOODS AND SNACKS • HEALTHCARE • TRANSPORT • TOURISM • ENERGY • JEWELRY MAKING AND RETAILING • SPECIALTY SCHOOLS • REAL ESTATE
- 9. OPPORTUNITIES IN THE UNITED ARAB EMIRATES • DUBAI IS THE SECOND LARGEST MEMBER OF THE UAE. IT'S HOME TO THE MOST IMPORTANT PORT AND IS THE COUNTRY'S COMMERCIAL CAPITAL. • IT OFFERS EASY ACCESS TO THE 1.5 BILLION CONSUMER MARKETS SITUATED IN AFRICA, WEST ASIA, CIS COUNTRIES, AND EASTERN EUROPE AS WELL AS THE AREAS SURROUNDING THE RED SEA AND THE GULF • THE GOVERNMENT PROVIDES ALL INDUSTRIAL FACILITIES • INVESTORS ARE GRANTED INCENTIVES AND ALONG WITH THE SIMPLE PROCEDURES FOR DOING BUSINESS IN UAE.
- 10. • IT'S A PLACE WHICH HAS CHANGED CONSTANTLY AND ADAPTED ITSELF TO BECOME ONE OF THE WORLD'S GREAT BUSINESS DESTINATIONS • INVESTED IN THE DEVELOPMENT OF ITS PHYSICAL INFRASTRUCTURE AND BUSINESS ENVIRONMENT
- 11. SMALL BUSINESSES WITH BIG POTENTIAL IN THE UAE • DUBAI HAS A LONG HISTORY OF ENTREPRENEURIAL SPIRIT • BEFORE THE OIL ERA, ITS CITIZENS WERE ABLE TO CREATE A VIABLE LIVING IN ONE OF THE WORLD’S HARSHEST ENVIRONMENTS THROUGH DIVING FOR PEARLS AND TRADING GOODS AS FAR AFIELD AS INDIA AND EAST AFRICA. THAT SPIRIT IS NOW REFLECTED IN THE PROFUSION OF SMALL TO MEDIUM-SIZED ENTERPRISES (SMES) THAT CALL THE EMIRATE HOME. • IT OFFERS STABILITY AND SECURITY, SOME OF THE WORLD’S BEST-CONNECTED TRANSPORT HUBS WHETHER BY LAND, SEA OR AIR
- 12. UAE free Trade Zone • A FREE TRADE ZONE (FTZ) IS A SPECIFIC CLASS OF SPECIAL ECONOMIC ZONE. THEY ARE A GEOGRAPHIC AREA WHERE GOODS MAY BE LANDED, HANDLED, MANUFACTURED OR RECONFIGURED, AND REEXPORTED WITHOUT THE INTERVENTION OF THE CUSTOMS AUTHORITIES. ONLY WHEN THE GOODS ARE MOVED TO CONSUMERS WITHIN THE COUNTRY IN WHICH THE ZONE IS LOCATED DO THEY BECOME SUBJECT TO THE PREVAILING CUSTOMS DUTIES
- 13. Establishing A Business Entity In One Of The UAE’s Free Trade Zones (FTZs) Can Be An Extremely Attractive Option For Foreign Investors • 100 PER CENT FOREIGN OWNERSHIP OF THE ENTERPRISE • REDUCED OR DIFFERENT TRADE BARRIERS,TARIFFS AND QUOTAS • 100 PER CENT REPATRIATION OF CAPITAL AND PROFITS • CORPORATE TAX EXEMPTIONS FOR UP TO 50 YEARS • NO PERSONAL INCOME TAXES • ASSISTANCE WITH LABOUR RECRUITMENT, AND ADDITIONAL SUPPORT SERVICES, SUCH AS SPONSORSHIP AND HOUSING • NO RESTRICTIONS FOR DOING MORE THAN ONE ACTIVITY • ALLOWED TO OPEN BANK ACCOUNT IN DUBAI
- 14. MAJOR CHALLENGES FOR UAE BUSINESSES 1. MANAGING THROUGH THE ECONOMIC RECOVERY WITH EMPHASIS ON FINDING NEW SOURCES OF GROWTH 2. MONITORING THE COMPETITIVE ENVIRONMENT AND ADJUSTING THE STRATEGIC DIRECTION OF THE COMPANY ACCORDINGLY 3. ADJUSTING TO THE CHALLENGING REALITIES OF CONTINUED GLOBALIZATION 4. MAINTAINING MORALE AND RETAINING TOP TALENT 5. BUILDING CUSTOMER LOYALTY
- 15. 6. PROTECTING SENSITIVE AND PRIVATE INFORMATION 7. MANAGING IN AN ENVIRONMENT OF INCREASED REGULATORY OVERSIGHT 8. UNDERSTANDING AND RESPONDING TO A CHANGING RISK PROFILE 9. ASSESSING CAPITAL AND MANAGING CASH FLOW EFFECTIVELY 10. EFFECTIVELY USING THE DATA AND INFORMATION AVAILABLE IN THE ORGANIZATION TO MAKE TIMELY AND INFORMED DECISIONS
- 16. Challenges for starting a new business • COST OF SETTING UP A BUSINESS HAS GONE UP TO AN EXTENT • VERY FEW BANKS PROVIDE FACILITIES TO START-UPS • GETTING CREDIT FROM SUPPLIERS HAS BECOME CHALLENGING
- 17. SOME OTHER CHALLENGES • COMMUNICATION STYLE • ATTITUDE TO TIME • HIERARCHY
- 18. PRESENT SCENARIO
- 19. CONCLUSION
- 20. RECOMMENDATIONS