The non-oil trade sector in Dubai continues to reveal new numbers, as challenges in the global economy have been successfully passed. It has been registered a growth of 2.7% in the non-oil trade sector in Dubai, making experts in economy consider that the GDP (gross domestic product) will grow by 4% this year. Businessmen interested in making investments in Dubai can benefit from numerous advantages in this matter and can be legally advised by our lawyers in Dubai.
The businesses in the non-oil private sector in Dubai continue to flourish, according to statistics and to the tracker index for Dubai, which revealed that the economy developed in June this year. Entrepreneurs interested in starting their activities in the Emirates are advised to solicit legal support and information about the current legislation from our lawyers in Dubai.
The renewable energy sector in Dubai continues to develop, as major plans have been presented this year regarding the investments in the long term. 2050 should be the year when at least 44% of the energy in Dubai will be obtained through renewable resources. Even more, numerous countries have developed a huge interest in the renewable energy sector and representatives will share their daring projects at the International Renewable Energy Agency meeting this year. The interesting part is that there is about $1 billion directed for local or foreign projects related to the renewable energy solutions. The legislation related to the foreign investments in this important area can be explained by our lawyers in Dubai.
The maritime sector in Dubai is solid and in a continuous development. The companies registered with the Dubai Maritime City Authority can benefit from funding obtained from an investment fund of about $1 billion. The aim is to improve this important industry in the Emirates.
The UAE and Japan have always tried to maintain fruitful economic relations and succeeded to focus on the mutual welfares during the past years. According to the UAE’s new report on the economy, the non-oil trade between the two powerful countries has recorded a historical high, about $15 billion. Businessmen interested in trading activities in China should solicit guidance and legal advice from our lawyers in Dubai. You may also ask details about the investment occasions you can discover in the UAE.
If you say Dubai, you say a developed and attractive city, a significant business hub which seems to expand every second. There is a multitude of interesting opportunities in Dubai, which can be discovered and accepted by financiers worldwide in search of good profits. The city has registered an interesting number related to the foreign direct investments, being positioned on the seventh place among worldwide municipalities where huge investments were recorded.
The e-commerce has recently met a significant growth in numerous areas of interests, a strong reason why retailers with shops in the biggest malls in Dubai can negotiate the rental prices. This comes as a natural process because the online shopping addresses to a particular category of clients, which is continuously increasing, as the numbers say. If you want to establish your business presence on the Arabian market and you need complete information and legal advice in this matter, we suggest you get in touch with our lawyers in Dubai.
In about four years an important project will be implemented in Dubai near Burj al Arab at the Jumeirah Beach. A complete and luxurious resort will be developed in the city, a project which will involve a few million dollars and important investors. The plan is to attract even more tourists who can benefit from exclusive amenities in only one place, and that is Jumeirah beach.
The World Expo 2020 which will be hosted by Dubai is going to last for maximum six months and it will address a topic of universal interest. The organisers aim to attract 20 million visitors for Expo 2020 and have announced that the exhibition will be a festival of "human ingenuity" which means that a strong accent will be put on innovation and development in industrial and commercial areas and not only. Dubai has already a long commercial tradition in the technology sector with an entire free zone dedicated to research facilities and IT infrastructure. Investors who want to open a company in Dubai Silicon Oasis may rely on our law firm in Dubai.
The tourism sector is one of the most popular non-oil commercial businesses in the UAE, which ensures Dubai financial gains and a constant rate of development. In the last years, the growth in this sector has exceeded 11% annually, which was a significant increase that left traces in the economic activity of the country. Dubai is more and more a favorite destination for visitors from China and Russia, and they are expected to be a key driver for this sector in the following years as well. Investors in tourism can rely on our Dubai lawyers for more information regarding various legal procedures such as company formation or business visa application.
Dubai ranks in the international surveys among the top five maritime clusters in terms of competitivety. In the indexes of this year, Dubai has occupied the fifth place, which means the city has ascended three places compared to last two years. More investors are attracted to invest in the maritime industry and the friendly tax climate of the emirate encourages their initiatives. Our lawyers in Dubai can provide assistance in company formation procedures in Dubai and help you with information regarding the local maritime legislation.
Two important institutions, Dubai’s RERA (Real Estate Regulatory Agency) and the DIAC (Dubai International Arbitration Centre) together with the legal community have encouraged companies to solve their disputes over real estate contracts through arbitration. The main argument is that this form of resolution is a much more effective and expeditious way to reach an agreement between the parties. Our law firm in Dubai provides legal services such as assistance in an arbitration process.
Mutual relations between UAE and India are in a very positive trend. The signing of 14 agreements at the beginning of this year is a clear sign that the two economies have in plan a long term relationship. The cooperation is planned for maritime transport as well as for the collaborative use of common storage facilities. The collaboration between the two nations relies as well on up to 58 billion $ commercial trade annually.
Elaborated by the DED (Department of Economic Development), the buyer protection program launched by the UAE is an important tool for protecting the traders who import goods from the Emirates. This is also a powerful instrument for increasing the efficiency and the dimensions of the import-export activity between UAE and other nations.
In 2016, UAE was one of the most successful spots for investments in infrastructure. Along with the public funds used in infrastructure, UAE is orienting now more and more to alternatives of private investments, in order to counterbalance eventual barriers of development that can be caused by short term fluctuations, such as security issues, currency devaluations or variations in commodity prices.
The UAE Bankruptcy Law has the potential to improve the credit dynamics in the region and offer guidance for the implementation of updated insolvency regimes in other countries in the area. Experts believe that the changes brought to the existing laws will provide more options for corporate restructuring. A solid legislative system will also translate into an improved investors’ confidence in the UAE. Our lawyers in Dubai can offer more information about the most important provisions concerning bankruptcy and insolvency in the Emirates.
Dubai aims to become an even more attractive tourism destination through a better promotion of cruise ship tourism. The planned growth for the 2016/2017 season is as high as 18 percent, compared to other years. The cruise ship sector in Dubai has grown since 2014 after the multiple entry visa scheme was implemented in the UAE. This was beneficial for many foreign investors in Dubai and the rest of the emirates, especially for those from India or China.