Before emerging as one of the world’s best business and tourist attracting city, Dubai was mainly relying for its economy on benefits it was taking as a coastal city. Soon after independence in 1971, the emirate soon shifted its priorities as it wasn’t enjoying vast deposits of oil and gas that were available to other…
The government of UAE is evaluating effects of VAT (value added tax) on various sectors and industries since implementation of this tax from January 01, 2018. The progress report of different sectors show mixed results. Few sectors suffer badly after implementation of VAT while others attained steady growth. The government also takes action to reduce…
Earlier this year, Dubai’s Crown Prince Sheikh Hamdan bin Mohammad launched 26 projects by 24 government entities of Dubai as part of “Dubai 10X”, aimed to make Dubai the hub of innovation. Under this initiative, DAFZA (Dubai Airport Free Zone Authority) has now announced its plans to start two of these projects, Dubai Blink and…
The new economic strategy of UAE is based on knowledge, education and modern technology. It is the main factor that dominates the policy of the government of UAE for economic growth. In contrast to most of the other regimes in the world, the government of UAE is known for taking rapid and solid steps for…
Since the arrival of oil crisis in 2014, UAE is continuously in effort to increase the level of non-oil sector in order to reduce its reliance on the unreliable future of oil and gas sector. Dubai remained a pioneer in this procedure as the emirate was already focusing on sectors like business and tourism due…
Wealth and prosperity usually results in lavish and unnecessary spending by regimes. But it is not the case with governments with broad vision that wants to provide continuous comforts to its citizens and keep the economic situation running in a smooth way even in the presence of financial crisis. This type of behavior has been…