Why is Dubai a front runner in the post COVID-19 Economic recovery

This month marks one year since many countries around the world started seeing the impact of the virus in their countries.  Many countries including the UAE went into lockdown, affecting business across most markets and industries.

The UAE and predominantly Dubai have moved quickly with changes in Government in May 2020 to enhance online government services, communications both at senior management level as well as at the government services level to support its citizens and residents, entrepreneurship and education.
Within a few months, in July 2020, Dubai was open for business as well as tourism within strict measures to ascertain the safety of travellers and its residents.  This has enabled the country to encounter a softer economic impact compared to other economies.

 Going forward the UAE government continues to be have a proactive approach and has put a number of measures in place to ascertain that the country is best placed to recover swiftly but also progress and offer a safe, and efficient ecosystem for all:
 

• A big emphasis for Dubai Chamber has been the small and medium business sector. Although many SMEs have been hit hard by the crisis, several new opportunities have also opened up. In line with market trends, a growing number of startups are emerging in the fintech, healthtech, education, e-commerce, sustainability, wellness and supply chain spaces. Click here for more!
• Inspite the current challenges the real estate market started the year bullishly, where Emmar Properties bought Sky View Tower in Down Town for 750M Dirhams (204M USD). Click here for more!
• More than 5.3 M doses of Covid-19 vaccinations have been administered since December 2020.The UAE is Ranked 2^nd in the world for the number of people currently vaccinated with more than a quarter of its population having received at least one dose. Click here for more!
• New initiatives from the Dubai government announced a route for UAE Citizenship schemes for enterprenuers, artists and inventors UAE citizenship for expats. Click here for more!
• A number for Freezones have annuanced special incentives for start ups: 

1. Um Al Quain Freezone – Freelance License
2. Dubai Freezones have published significant discounts for 2 and 3 year license payments
3. Renewable energy and FinTech licenses are currently being subsidised by two other Freezones

 
Who we are –
Brownstone Management & Tax is a boutique firm specializing in set up, residency and company support.  Our team of professionals is an end to end solution regarding an SME’s or HNWI’s requirements to establish in the UAE.  Do not hesitate to contact our team for any further information.