Media ININ Economy We Trust
Abu Dhabi 23-09-2019
The list of economic activities provided by the UAE includes more than 2000 diversified activities in many sectors, which gives investors multiple options to do their business within the country easily and easily, according to the testimonies of international institutions that the country has succeeded in booking a distinguished position on the index in the past years.
Economic activities in the UAE are classified into four categories, also called types of commercial licenses, which include industrial, commercial, craft, tourism, agricultural and professional licenses, as approved by the Ministry of Economy.
The UAE’s business environment is one of the most competitive in the Middle East, making it the first destination for foreign investment that seeks to maximize profits supported by stimulating legislation and protection of investor rights and infrastructure comparable to that of the most developed countries in the world.
In an effort to continuously improve “ease of doing business” in the UAE, many of the emirates have introduced a fast approach to obtaining business licenses through the local economic development departments in each emirate where an immediate license for economic activity can be obtained within 5 minutes. With only one step without the need to reserve a trade name or the existence of the company or lease.
Details of the competitive advantages of the UAE’s investment environment include, in addition to the strategic location of a politically and socially stable country, there are advanced infrastructure, diverse business facilities, intellectual property protection legislation and positive labor laws.
The UAE’s dependence on a stable, free and open economy is one of the advantages that the country is famous for, as well as the ease of establishing work, competitive prices for energy, real estate and rentals, a strong banking system, the absence of taxes on individuals and companies, customs duties of only 5%, the lowest in the region and low labor costs in general. .
In spite of the availability of advanced infrastructure, the UAE has allocated about 230 billion dirhams to implement substantial improvements in this infrastructure in the various emirates of the UAE, including those dedicated to road networks and federal buildings, and major investments in many initiatives at the level of local governments.
