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Tax Free Zones and Business Opportunities in Dubai |
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Tax Free Zones and Business Opportunities in Dubai
An examination of Dubai's free zones.
The Jebel Ali Free Zone, Dubai's Internet and Media Cities, the Dubai International Financial Centre, Airport Free Zone and Maritime City discussed.
Economic History of Dubai and the United Arab Emirates
Throughout history Dubai has operated as a trading hub for exports to the Far East, India, and Africa. Historically its entire economy was built on its reputation and position as a trading centre and at one time Dubai was a very underdeveloped state. All this changed in the 1960s with the discovery of oil in the United Arab Emirates.
By 1985 the UAE had the highest per capita income in the world and the black gold profits have enabled the United Arab Emirates’ forward thinking leaders to invest in capital improvements and social services and to implement numerous construction projects through which the infrastructure of each of the seven states has been massively expanded and successfully modernised.
The establishment of the UAE has been good for the entire region, bringing stability and unrivalled economic expansion to the Arab world.
Dubai is the second largest of the seven states forming the United Arab Emirates and the fastest growing both economically and in terms of population.
Oil and the petroleum industry dominate the economy of the UAE with Dubai’s strong economy having been especially buoyed by its oil industry. However, the state’s wise leaders are aware that oil reserves can only last another 30 or so years and have embarked upon an aggressive and major diversification program.
It is hoped that Dubai's dynamic and far reaching developments in the industrial and commercial fields will result in these enterprises taking the place of oil as the predominate commodity for the state's economy - without reducing the state's wealth and dominance. This policy has already paid dividends and brought about very positive results for Dubai, as the city is now recognised as a prominent industrial and commercial world player.
Establishment of the Jebel Ali Free Zone in Dubai
Development of Further Free Trade Zones in Dubai
Dubai Internet City and Dubai Media City (referred to jointly as DIC) were born!
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