Country map
UAE
1583
Important Information
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UAE locates between Asia, Europe, and Africa which was the key factor that has transformed UAE into a trading hub, banking, and transportation in the Middle East. UAE is a vital transit and transshipment center for goods to other countries.
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In 2023, UAE ranked as the fourth largest economy country in the Middle East region with GDP (509.2 billion US dollars) next below Turkey, Saudi Arabia, and Israel. UAE has a high economic growth rate. The World Bank also classifies UAE as a high income country.
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The main important economic policy is to create diversification in promoting service sectors and production industry and in reducing dependence on oil revenue. UAE still have a “Operation 300 BN” vision which emphasizes in future innovative products.
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UAE still has two important projects such as “Make it in the Emirates” and “Promoting UAE citizen employment (which is called “Emiratization”). The main objective of “Emiratization” is to reduce dependence on foreign workers.
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The Ministry of Economy of the United Arab Emirates has granted permission for foreign investors to hold their ownership businesses in the country with 100% in any 1,000 types of businesses and industries. This permission was activated on June 1,2021 without requirement from UAE citizen as partners.
