Economic development in the uae economics essay

Development assumes economic growth, and economic growth is impossible without industry, which needs energy resources.

Economic development in the uae economics essay

Consider the factors that contribute to this ongoing success story. It is a gateway to a market that can be characterized as: Political And Economic Stability: Dubai is part of the UAE which is a low-crime and politically-stable country.

Impact of Historical events

Also, the UAE enjoys financial and monetary stability. Its well-developed, sophisticated banking system features extensive credit facilities and ample liquidity. The government has a long, consistent commitment to pro-business, liberal economic policies including the protection of intellectual property rights.

The UAE benefits from stable and harmonious industrial relations. Finally, there is a well defined, sound legal framework for business and a clear set of ownership rules.

Open And Free Economic System: Government control and regulation of private sector activities has been kept to a minimum. Liberal visa policies permit easy importation of expatriate labor of various skill levels from almost all over the world.

World Class Infrastructure and Service Sector: The Emirate features a network of seven industrial areas, one business park and three highly successful, specialized free zones of international distinction, two world class seaports, a major international airport and cargo village, a modern highway network, state-of-the-art telecommunications and reliable power and utilities all of which deliver efficiency, flexibility, reliability, reasonable cost and size.

Complementing its world class infrastructure is a sophisticated service sector that features leading regional and international freight forwarders, shipping companies, insurers plus major international hotels, banks and financial service firms, lawyers, accounting firms, consultants, advertising agencies, top international exhibition and conference facilities, high quality office and residential accommodation, first class hospitals, schools, shopping centers and recreational facilities.

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International companies setting up in Dubai can obtain significant cost advantages not generally available internationally. The major factors are: You can refer to the tables under the "Cost of Doing Business" section. Those factors include excellent infrastructural facilities, low crime, clean environment, tolerance and cultural diversity, cosmopolitan life style, modern public administration, availability of a wide range of consumer goods and services, mild winters and clean, palm fringed beaches.

The local business class has a long tradition of trading activity and wide exposure to international business practices and state-of-the-art technologies.

Economic development in the uae economics essay

Local entrepreneurs have already gained successful experience with international partnerships in franchising, licensing, joint ventures, etc, in various sectors of the economy. Dubai boasts an extensive foreign trade network extending to states thus offering the investor an extensive choice of potential global marketing outlets for a diverse portfolio of goods and services.

Major gains have already been made in the profitable manufacture and export of aluminum ingots, fabricated metal products, textiles and ready-made garments, gold and jewelry, prepared foodstuffs, consumer electronics, refined petroleum, chemical and non-metallic mineral products.

Supportive commercial, industrial, political and economic factors are currently in place that make possible the extension of these gains to other manufacturing sub-sectors.Uae Economic And Community Development Economics Essay.

Economics UAE can be an amalgamation of seven says or Emirates region each which is governed by the individual emirs or rulers. UAE is currently known Read more. SADC Economic Development. Economics SADC Economic Development Overview of the SADC Introduction SADC has been in. The History Of The Globalisation And Uae Economics Essay.

UAE is the most globalised country in the Middle East because Abu Dhabi, emirates with huge oil wealth and Dubai with entrepreneurial skills was opened as commercial hub soon after gaining independence from British. Political And Economic Stability: Dubai is part of the UAE which is a low-crime and politically-stable country.

Also, the UAE enjoys financial and monetary stability. Its well-developed, sophisticated banking system features extensive credit facilities and ample liquidity.

The Role of Small and Large Businesses in Economic Development By Kelly Edmiston I ncreasingly, economic development experts are abandoning traditional.

The economy of the United Arab Emirates is the second largest in the Arab world (after Saudi Arabia), with a gross domestic product (GDP) of $ billion (AED trillion) in The Emirates have been successfully diversifying its economy..

Although the UAE has the most diversified economy in the GCC, its economy remains extremely reliant on petroleum (oil).

Economic development in the uae economics essay

Career development and education programs in the United Arab Emirates Abstract The United Arab Emirates is a conflicting country, with high income per capita, yet low prepared staff members.

The state as such employs large numbers of foreign workers, and continues to diversify its economy.

Economy of the United Arab Emirates - Wikipedia