Dubai: World-Class Global Business Hub

Vision is one thing; executing that vision is another. Dubai is a place that marries the two and, as a result, delivers a business, finance, trade, logistics and tourism experience unlike that of any other city. The entire UAE has a liberal outlook and is committed to free trade. The country has a modern business infrastructure with high-quality, high-tech office space and well-established travel logistics, a beneficial fiscal plan for corporations and individuals, and a confident business atmosphere. Contrary to popular belief, only 30% of the nation's gross domestic product comes from oil revenues—an even smaller percentage in Dubai because of its diverse, robust economy. The UAE is a major consumer of U.S. goods and services, with $8.4 billion worth of imports. More than 500 U.S. companies have offices in the UAE, and nearly 20,000 Americans live and work here. The UAE and the U.S. are negotiating a future free trade agreement, but nothing has been decided yet.

Today Dubai is a global business hub and most free business place in the world according from their liberal economy. Dubai leads the region in culture, tourism and shopping and attracts people from all over the world who are potential users of healthcare services.

Infrastructure
1. Dubai International Airport claims the dual titles of the world’s fastest growing airport and the world’s sixth busiest airport in terms of international passenger traffic, handling 41 million international passengers in 2009. More than 130 international airlines offer freight and passenger services, including United Airlines, British Airways, KLM, Lufthansa, Singapore Airlines and Dubai’s international carrier, Emirates. Emirates Airlines operates from the newly opened world-class Terminal 3, that is currently capable of handling 27 million passengers a year.
2. Jebel Ali Port is the world’s largest man-made port, and estimated more than a 40% increase in its cargo container throughput from 2008 to 2009. Dubai’s ports are served by more than 242 shipping lines. The 19% growth in the UAE ports alone matched the average set by the Middle East, Europe and Africa put together.

There are numerous existing Free Trade Zones in Dubai that provide industry-specific market infrastructure and tax incentives for industries such as:
1. Financial Services & Commodities - Dubai International Financial Centre and Dubai Multi Commodities Centre
2. Healthcare - Dubai Health Care City
3. Media & Technology - Dubai Internet City, Dubai Media City and Dubai
4. Biotechnology & Research Park
5. Education & Universities - Academic City and Knowledge Village
6. Textiles & Logistics – Jebel Ali Free Zone and Dubai Logistics City
7. Dubai Outsource Zone
8. Dubai Airport Free Zone
Some benefits of Dubai’s Free Trade Zones include ready-made offices, factories, warehouses, and easy start-up and licensing procedures.

Trade & Investment
1. Dubai’s non-oil foreign trade grew 38% in 2008 to AED 934.7 billion (US $254.7 billion).
2. Dubai has emerged as a Forex and Derivatives hub through the initiatives of the Dubai Gold & Commodities Exchange.
3. Dubai is a regional hub for trade and investment of commodities such as gold & precious metals, diamonds & colored stones, energy (fuel trading & natural gas), tea, as well as pearls and fashion jewellery, which alone accounted for 26.5% of UAE’s non-oil foreign trade in 2008.Taxation- Dubai does not impose any personal income tax, capital gains tax or withholding tax. However, all companies are required by law to pay tax on their earnings, up to a maximum of 55 percent. In practice however, only oil-producing companies and branches of foreign banks are required to pay a corporate tax.
4. Dubai’s Free Trade Zones carry many attractive financial incentives, such as exemption from corporate taxes for 15 years or more, 100% foreign ownership, no personal income taxes, 100% repatriation of capital and profits, no minimum capital investment and no need for a local partner.Tourism
5. Nearly 7 million tourists visited Dubai in 2007 and 3.85 million in the first half of 2009.
6. The hospitality and tourism industry is responsible for about 18% of Dubai’s GDP.
7. Dubai has a number of attractions & events that promote tourism. Dubai hosts various art & culture festivals, such as the Dubai International Film Festival and Dubai Jazz Festival, and sporting events like the Dubai Golf Desert Classic, Formula 1 Race (Abu Dhabi), Rugby 7’s, Dubai World Cup of Horse Racing and international cricket matches.
8. Other popular attractions include the Dubai Shopping Festival, Desert Safari, Burj Khalifa (previously known as Burj Dubai), Ski Dubai, numerous beach resorts, Global Village and various shopping malls, including the world’s largest, Dubai Mall.

The tourist infrastructure in Dubai is one of the best in the world with a whole range of world-class hotels, including Raffles Dubai, Atlantis The Palm, The Kempinski, The Armani Hotel, Jumeirah Hotels and Burj al-Arab.

Quality of Life The UAE was ranked #1 as the country with the best quality of life in the MENA region, and 15th in the world out of 160 countries. In addition to its strong infrastructure of telecommunications, roads and airports, the UAE received its ranking based on its numerous consumer and recreational facilities, public infrastructure, safety and virtually crime-free, tolerant society.

The UAE is also known for its world-class entertainment, luxurious leisure facilities and excellent value shopping.

Talent Given the quality of life and companies here, Dubai attracts among the best talent pool in the Middle East, with over 195 nationalities represented.
Many major multinational companies have offices located in Dubai, including Microsoft, Oracle, Nokia, Sony, Boeing, Pricewaterhouse Coopers, HSBC, Royal Bank of Scotland, Shell, Emirates Airlines, Proctor & Gamble, Adidas and BBC World.

Totally, today Dubai is a capital of world business and best hub for all investors.