Founded in the year 1971, UAE has been continuously growing step-by-step in every possible domain starting from being a travel destination to a place packed with job and business opportunities. Foreign expats, industrialist and working professionals – a large number of forward-looking individuals end up choosing the UAE a safe home for their venture. Moreover, freelancers also have an excellent platform to convert their ideas into reality and shape their dream in the booming industry.
Starting a business in the UAE has become simpler in this technologically advanced business world. Let’s have a look at different dimensions.
- Greater Scope for business actions
- Ability to trade with mainland companies
- An excellent opportunity to work with government organizations
- Affordable business process
Growth Rate in UAE
According to the latest data released by World Bank, the growth in UAE is forecast to be at 2.6 percent, which is expected to jump by 3 percent in 2020, as the country has pushed infrastructure investments ahead of Dubai’s Expo 2020.
Also, the country’s economy is expected to grow further by 3.2 percent in 2021, due to government’s economic stimulus plans such as – hosting the World Expo 2020 and improving growth prospects with global trading partners.
In addition, the report also states that the economic growth in the GCC (Gulf Cooperation Council) region is expected to rise from 2 percent last year to 2.1 percent in 2019 and to 3.2 percent in the year 2020, before stabilizing at 2.7 percent in 2021.
Factors attracting investors towards GCC
- Easing business licensing process
- Lower fee structure
- Liberal policies for foreign ownership
- Support for young entrepreneurs and women
In recent years, a lot of work has been done to attract investments, mainly in non-hydrocarbon sectors to endorse non-oil exports, such as reforming legislation and creating free trade zones providing generous incentives for investors.
So what are you waiting for? Set up your own venture in UAE and earn bigger with growing with fast-paced economy. We at Maven Business Consultancy, make business setup and licensing process simple, hassle-free and structured.
Our aim is to deliver best to our clients, and that too, without imposing any stress on their budget. Our experts will understand your business needs and schedule your plan accordingly. To have a word with our experts, contact us today at +00971-55-679-1998.