The UAE and MENASA are two rapidly growing markets in which you must participate

Expo 2020 Dubai promises to provide various prospects for growth for enterprises considering expansion and foreign operations in the UAE and the MENASA (Middle East, North Africa, and South Asia) region. To learn more, continue reading.

According to World Bank figures, the UAE’s GDP increased from US$104 billion in 2000 to US$421 billion by the end of 2019. It means the UAE’s GDP has increased four times in the last 20 years, giving it the highest per capita income in the world at US$43,470.

In addition, according to a World Bank survey, the UAE ranks 16th out of 190 nations in terms of “Ease of Doing Business,” and continues to be the highest-ranking country in the Middle East and Arab area.

To grasp the plethora of trade options, consider Dubai’s quickly rising and increasing market, as well as its link to the MENASA market, which unquestionably provides it an advantage over the competition.

Dubai’s Market and MENASA Link

As we all know, marine transport has increased dramatically, and Dubai, the most well-known of the seven emirates, has earned a reputation for entrepreneurial ingenuity, making it one of the world’s top business destinations. Its status as an economic center has been cemented by a vast open market, quick expansion, and substantial tax benefits.

According to a survey by STARTUP Overseas, in 2020, 88 percent of UK investors will choose Dubai over the other emirates since British goods and services are highly valued in Dubai. Despite the slowdown brought on by the COVID-19 epidemic, various infrastructure possibilities are being investigated.

Manufacturing, construction, travel, and hospitality, as well as transportation and logistics, will all benefit from Expo 2020. Education, training, and consulting are key priorities for the emirate.

The United Nations designated Dubai as the data hub for the MENASA region in 2017. It was an integrated program to mine and manage the city’s information across boundaries, ushering in an era of smart technology. Engaging business stakeholders, reviewing local and regional portfolios, creating analytics, and speeding up development were among the goals.

Progress is being made in the areas of sustainability, mobility, and opportunity

Expo 2020 Dubai’s motto is “Connecting Minds, Creating the Future.” Sustainability, Mobility, and Opportunity are the three subthemes on which it is based. These ideas are essential for ensuring a safe future for succeeding generations.

Honoring our assets and living in peace with the planet we call home can help us attain sustainability. Mobility will be realized through the creation of a dynamic society that allows for both physical and virtual movement. And, by focusing on an individual’s or a company’s ability to impact the future, the opportunity will be achieved.

Non-oil market segments are growing increasingly popular as the UAE attempts to reduce its reliance on oil earnings. Creative industries such as new media and publishing are also important. As a result, there is a growing preference for learning skills and development in the emirates.

Virtual machines, technical education, and Foreign consultancy are in high demand in the IT business. Capital markets are also gaining popularity. A robust financial market, together with different tax breaks, gives appealing opportunities. In addition, Dubai allows for 100% capital and profit restoration.

The UAE government has established a new Corporations Law as part of its Strategic Vision 2021 plan to encourage foreign direct investment (FDI). In free zones, foreign investors can own 100% of a particular value. The supervisory body’s regulatory and legal structure will also benefit national entrepreneurs.

The national pavilions at Expo 2020 Dubai will focus on developing innovative solutions that are both commercial and ecologically balanced.