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The Dark Face of Dubai Economy

Dubai – The ruler of the Emirate of Dubai, Mohammed bin Rashid Al Maktoum, launched this month a $ 8.2 billion wholesale city project that will inject investments into the country over the next ten years to boost its role in world trade. The project aims to ” 4.3 trillion dollars will grow over the next five years to reach 4.9 trillion dollars, “and permanent international exhibitions will be established throughout the year and linked to Jebel Ali Port and Al Maktoum International Airport.
Trade, tourism, shopping and logistics. Through these revenues, Dubai has achieved stable levels of growth, expansion and diversification to achieve its strategic plans for 2021 and develop the emirate to be a leader in these fields at the Arab and international levels. The emirate is working hard to develop the services economy and is ready to host Expo 2020, which it hopes will attract some 25 million visitors.
Dubai has moved from arid desert with simple trade and maritime activity to a major center in the Middle East after the discovery of oil in the United Arab Emirates. The lack of oil resources has not deterred the development process and has found a foothold in international trade. In the past few years, it has become an important center for a significant number of growing and flourishing activities such as:
– Tourism from all over the world; in 2014, it received nearly 12 million tourists from all over the world.
– Holding international exhibitions in all fields as well as holding conferences and meetings in them.
– Attracted the major regional centers of international companies.
– The Regional Center for Transport, Distribution and Logistics through its airports, ports, shipping and financial and commercial facilities. Dubai has seven industrial zones, a consortium of companies, three highly specialized and highly specialized free zones, two international seaports, a major international airport, a shipping village, Insurance, accounting, law, consulting and other matters.
– Expansion of banking, insurance and finance.
– Progress in the information and communication technology sector.
– Light and medium manufacturing industries.
Indeed, the emirate has been able to operate a logistics service base with its advantages, such as the competitive cost of companies operating in Dubai, the tax exemptions it receives, the laws of acquisition and the availability of cheap labor of different nationalities.The high standard of living enjoyed by the emirate, which has contributed to the strong investment in the development of real estate such as hotels, residential and commercial facilities and leisure facilities with the associated low crime rate, clean environment and modern lifestyle.

For More Details : ImiHow.com 

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