Closer to home, an Economic Bulletin on the US-China trade war by the Dubai Chamber of Commerce says that the UAE, and some other GCC countries are “very well positioned” to gain a larger market share in the Chinese market for select products on the list such as petrochemicals and polymers, such as polyethylene, polycarbonate and acrylonitrile, along with liquefied propane. The tariffs could also have a positive impact on UAE producers due to higher demand from China. Meanwhile, with the UAE's role as a major transshipment point, the trade war also presents an opportunity for SMEs in the Emirates and wider Middle East region who function as the main importers and re-exporters of Chinese goods.
During the early startup phase, successful entrepreneurs found the so-called product-market-fit, where they identified and validated the problem statement, the value of the proposed product, the customers that will buy […]
Taking that first step and setting up your own business is exciting and challenging at the same time. In the UAE, would-be entrepreneurs often face a number of obstacles before they decide to take the leap. They may worry about the financial investment, the time they will have to dedicate to the business, and they’d also doubt their own success. But once those have been dealt with, entrepreneurs reach the next stage where they are full of energy and want to get started right away, which, in some cases at least, can mean rushing into things without adequate planning, and then having to pay the price when things need to be “fixed” or redone later on.
More than 1,000 licences licenses were issued for setting up restaurant startups and traditional desserts businesses in the UAE during the first nine months of 2019, according to the Ministry of Economy's National Economic Register (NER).
Information technology spending in the UAE is forecast to grow by a compound annual growth rate of 8 percent to reach Dh23.1 billion by the end of 2019, according to a report released by the Dubai Chamber of Commerce and Industry.
The UAE has successfully created a legal framework that is constantly adapting, matching or exceeding the highest international standards, to meet the needs of the entrepreneurship community.
Employment in the private sector increased by one percent in Q2 to 5.1 million compared to a rise of 0.1 percent in the previous quarter, according to figures released by the Central Bank of the United Arab Emirates.