UAE Market Opportunities for Thai Products in the Middle East
What is the UAE? Brief overview of the 7 emirates:
The United Arab Enmities or also known as UAE is a federation of 7 emirates (states) that consist of Abu, Dhabi, Dubai, Sharjah, Ras Al Khaimah, Ajman, Umm Al Quain, and Fujairah. In the past, the Arab region was a British protectorate. Then the first 6 states as mentioned joined together in 1971 while Fujairah joined in 1972 to form its own independent nation as the UAE.
Abu Dhabi is the capital of UAE. It’s also the richest, has a large resource of oil, and holds the most authority in UAE. Meanwhile, Dubai is known as the business hub with a boom in tourism and finance. These two emirates largely govern and pass laws that regulate the whole nation.
The other five emirates, Sharjah, Ras Al Khaimah, Ajman, Umm Al Quain, and Fujairah hold less authority. These emirates are mainly known for their trading and fishing industry.
Why invest in UAE?
UAE comes packed full of business opportunity. UAE boast a reputation being a political stable and foreigner friendly nation with low crime rates and high-quality infrastructure. Here’s what makes this country an international business hub for travelers and investors alike.
1) Good location
UAE has a strategic location between the regions of Africa, Europe, and Asia, which help provide access to around 2/3 of the world population. It also makes traveling more convenient.
2) Diverse, highly skilled workforce
The population of UAE amounts to more than 10 million. More than 80% of the population are foreign nationals and expats, which is the largest amount in the world. Therefore, this pool of workers is diverse, competitive, and highly skilled.
3) Tax free
The nation does not impose corporate taxes and income personal taxes to attract foreign investments. In addition, UAE offers many different ways for foreign companies to set up their company such as mainland, free zone, and offshore, which depends on the type of business. Free zone may allow 100% foreign ownership if the criteria are met.
4) High Standard of Living
The nation made large investments in its healthcare, public transport, infrastructure, and innovative businesses. In addition, UAE ranks high in safety due to its strict laws. According to Numbeo Safety Index 2022, Abu Dhabi ranks as the safest city in the world for the 6th consecutive year, while Sharjah ranked 4th and Dubai as 8th.
5) World Class Infrastructure
UAE, particularly Dubai is known for having world class infrastructure. There are beautiful buildings and skyscrapers with sophisticated designs to admire. For example, UAE holds the record for the world’s tallest building, most tilted building, and much more. It also has a shopping mall, the Dubai Mall that’s bigger than 50 football fields.
UAE: New Market for Thai products in Middle East
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