Text size:

  • Small
  • Normal
  • Large

Entrepreneurs drawn to the Emirates as innovation hub

Study shows UAE is preferred destination for entrepreneurs in the Middle East.

ABU DHABI // The UAE exerts a strong draw on the region's entrepreneurs - with four out of five people saying they see the country as a good place to establish a business.

The Al Aan survey also found that three in four people in the region would consider investing in the country.

"It is not at all surprising that the preferred destination for entrepreneurs in the Middle East is the UAE, since entrepreneurship and the ease of doing business have always been a significant part of the UAE's fabric," said Neil Petch, chairman of Virtuzone, which helps small firms set up as free zone companies and helps newly fledged entrepreneurs network and grow their businesses.

"UAE's physical infrastructure caters to the most demanding business needs, while its 'soft' infrastructure - enabling legislation, the prevalence of English as a business language, ready mobility of both qualified and semi-skilled labour, attractive lifestyle and tax incentives - makes it the ideal location for international businesses."

Dubai topped the list of emirates where people would most want to invest or start a business, with 71.1 per cent of the votes.

This was followed by Abu Dhabi (17.9 per cent), Sharjah (6.5 per cent), Ras Al Khaimah (1.7 per cent), Fujairah (1.2 per cent) and Ajman (1.1 per cent). Umm Al Quwain received less than one per cent of the votes.

Mr Petch felt the results were not surprising.

"Today, Dubai alone is the regional headquarters to more than 25 per cent of Fortune magazine's annual list of the top 500 American companies," he said.

"If we look at Dubai Internet City, Dubai Media City, Knowledge Village, Dubai Studio City, International Media Production Zone, etc, these are all examples of a vision to create gravitational centres for different sectors of the economy, that would become world-class hubs.

"There is a positive sentiment, a sense of openness, collaboration, possibility and purpose that are distinctly Dubai, but at the same time feel universal, and have been very well captured by the theme for the 2020 World Expo bid, 'Connecting Minds, Creating the Future'."

The majority (35.3 per cent) of those asked were interested in investing in IT, followed by leisure, clothing and apparel, education and property.

jbell@thenational.ae

Back to the top

More articles


Editor's Picks

 Rolling out the structure for the set. Mona Al Marzooqi / The National

Star Wars: Episode VII evidence in Abu Dhabi desert

After more than a week of speculation, The National has what are believed to be the first photos of a Star Wars shoot in the Abu Dhabi desert.

No words can describe this April 17, your captions will

Have a catchy caption for this picture. Share it with us and we might publish it and reward you.

 The year-long project aims to create a form of social autobiography — the story of Dubai documented by those who know it best, the people who live there.

Zoom in! This is your Dubai in a single image

On our sixth birthday, we are all about pictures. So here is our #mydubai offering. Using zoom.it, explore the city.

 Amir Khan, during a workout at the Gloves Community Centre on March 24, 2014 in Bolton, England, says his fight will be the real main event in Las Vegas on May 3. Alex Livesey/Getty Images

Amir Khan says bout with Luis Collazo ‘will steal the show’ in Las Vegas on May 3

British-Pakistani boxer Amir Khan says his fight with Luis Collazo will be the main attraction on same fight card led by Floyd Mayweather Jr and Marcos Maidana, writes Omar Al Raisi.

 This Dh17,000 Miele system can prepare your choice of coffee - from capuccino to espresso - at a touch of a button. Pawan Singh / The National

In pictures: Miele puts art in coffee making

Miele has devoted itself to the art of preparing the black liquid with its beautifully designed coffee machines, living up to its mantra of turning kitchens into cafés.

Events

To add your event to The National listings, click here

Get the most from The National