Business in the UAE
When I went to Dubai, I had a strange image of what was waiting for me here, even a bit scared. Fortunately I had waited for wind for 3 days with Arabs on a yacht at a regatta here in 2014 (check out my dhau race article >>) - and had plenty of time to talk, otherwise I would never have come here - because of the picture I had from our press.
Well, the fear is completely gone by now, especially with the "Locals", the local Arabs I haven't had a single bad experience yet. Doing business is easy - but you should deal with the culture.
The offices of the government administration are called "Customer Happiness Centers" - compared to Germany many things in the administration are very strange - but the people in the offices are incredibly friendly and most processes are fast - if you understand the requirements. But they always help you with a smile. And many of the services are online - very, very helpful and fast - if you understand what they really want. If not, you have to ask. I have already asked a lot ...
This subjective impression (the number of my cases is a bit small) is also in line with international studies: Dubai as a production location is overall the most efficient in the Middle East and North Africa region and, according to the World Bank's Doing Business 2020 report published in October, is ranked 16th worldwide. In the United Arab Emirates, the enforcement of contracts is much easier than in Germany (based on time (days), costs (% of claim) and the index for the quality of court proceedings) - place 9 of worldwide 190 countries!!!
Check the rankings here: https://www.doingbusiness.org/en/rankings#
A newly introduced electronic litigation service, through the introduction of a new case management office within the competent court and through the further development of the "Intelligent Petitions" service, which enables litigants to submit and track applications online. The UAE Freezones offer countless opportunities to start a business - but there are a variety of business start-up service agencies that can help you a lot at very reasonable prices. By the way: Private living in the UAE is much, much cheaper than in Hamburg, Berlin or Munich. If you are an open-minded person, the UAE is worth considering when starting a business and offers unexpected freedom. Especially if you have a small production or trade business that is in danger due to the lockdowns. Dubai will connect you to the world. I made a lot of good experiences with workers from Pakistan or India - it´s the biggest part of the UAE population: Very friendly and always ready to help. Many of them lack education - but they are very committed and willing to learn. You have to be open to foreign traditions and tolerant. Get background knowledge and you will understand much more and experience less unexpected situations. 90% percentage of foreigners ... Concerning the corona crisis I believe we will get through tough times, my expectation is, the normal economy is never coming back. A short, simplified summary of a lot of international studies:
- China will develop better than ever
- USA will protect it´s own business
- Europe will fall in a deep depression
- Europe will fall back in economic nationalism - perhaps worse developments
- Africa will have big problems with corona deaths and economy, China will help - I expect Africa will become a huge market very fast - thanks to the Chinese money
- the difference between rich and poor will increase
- cheap and luxury products will be successful, medium priced products are difficult
- innovative, cost reducing products and services are more successful than ever And here in the UAE?
- UAE will benefit due to the minor non-oil foreign trade to Europe and USA
- UAE will benefit on the trade-war between USA and China
- UAE will benefit of flee of business out of Europe
I am quite fresh in the UAE-market (since 10/2019), but can help a lot with informal advice, connections and if you are interested, with my 30 years of marketing know how.