The UAE - a magnet "attracting" global investors

The UAE economy is known as one of the most "open" economies and is always open to investors around the world. Therefore, establishing a business in the UAE is the solution to accelerate the growth of your business today.

Strategic Central Economy

The UAE is also known as the United Arab Emirates, with 7 emirates: Abu Dhabi (the capital), Ajman, Dubai (the largest city), Fujairah, Ras Al Khaimah, Sharjah and Umm Al Quwain. This place is considered a strategic location, a country connecting Asia, Europe and Africa with many free trade areas. Thousands of Chinese businesses use Dubai as a trading hub with Africa, while Indian traders use it as leverage to go to international markets. The UAE is also a launching pad into South Asia for Latin American countries, so by setting up businesses in the UAE, investors naturally possess a solid foundation to enter the intercontinental market.

The UAE is considered a strategic location between Asia, Europe and Africa.

The UAE is considered a strategic location between Asia, Europe and Africa.

Solid economy despite the pandemic

The rapid post-pandemic recovery of the UAE economy is largely due to the prompt action of the Government and the comprehensive support of the UAE Central Bank with a series of support packages for the economy. As a result, the UAE ranks first in the Arab world and second globally in the "Epidemic Resilience in 2021" index, ranked by the Consumer Choice Center.

Figures in the United Nations report show that global foreign direct investment flows will decrease by 42% in 2020 due to Covid-19. However, the UAE economy witnessed a growth of 44% in FDI inflows in 2020, reaching nearly 19.9 billion USD.

"One of the top ten countries" is what IMD, the International Institute for Management Development, has said when referring to the UAE. This country even ranks higher than major countries such as the United States, Ireland, Finland, Luxembourg, Germany and the United Kingdom. The UAE is the only Arab country to maintain its position in the top 10 most competitive countries in the world for four consecutive years.

This competitiveness ranking has evaluated 63 countries with 334 comprehensively researched competitiveness criteria, the prominent rankings of the UAE can be mentioned as:

• 1st place globally in terms of labor market
• 3rd in government efficiency
• 4th in economic performance
• 7th in business performance

Enormous oil and gas industry

The UAE economy is consistently in the top four in the Middle East, with a gross domestic product (GDP) of $421 billion in 2020 and currently ranks seventh in the world in oil reserves with about 97,800 million barrels of crude oil.

Petroleum and natural gas exports account for a very large share of UAE GDP.

Petroleum and natural gas exports account for a very large share of UAE GDP.

Not only has strong financial capacity with the maintenance of national financial reserves and owns a sustainable banking system, but the UAE is also an ideal business location, the most prominent of which is Dubai - which has created a modern, dynamic and diversified economy since the turn of the century.

The UAE has become the regional and global headquarters of more than a quarter of the world's 500 largest companies. According to Mr. Vu Dai Duong, representative of One IBC^® - a leading foreign business service provider, this place is still the main investment destination of foreign capital, especially large projects of tourism, industry, transportation, etc. Free trade areas contribute a lot to this environment and the UAE owns more than 28 business and logistics zones with competitiveness that is second to none.

These days, the UAE is one of the most advanced countries in the world in creating a regulatory environment that protects investors and supports commercial activity, providing a flexible legal and business environment. It is the attractive attraction that many Vietnamese investors are interested in the procedures to establish a business in the UAE, through the advice of experienced experts from One IBC^®.