Emirates news agency – local press: UAE is a haven for global companies

ABU DHABI, January 2, 2022 (WAM) – A newspaper from the United Arab Emirates said the country celebrated the 50th anniversary of his formation with pride and satisfaction. The country has come a long way from where it started. Besides a country with enviable human development indices to its credit in terms of increased participation of women in all spheres of life including government, science, academics, modern living facilities for all citizens, including including transport, and the emphasis on creating a conducive cultural atmosphere through book fairs, art exhibitions, museums.

“It was built on the basis of an innovative economy that grows and changes with the challenges of the day,” Gulf Today said in an op-ed Sunday.

The document continues: “The country faced a grim challenge in the form of COVID-19 in 2020 and 2021. With the availability of anti-Covid-19 vaccines, the UAE has taken action to put vaccines available to all their residents. It also provided the basis for Chinese vaccine clinical trials, showing an opening for research and collaboration.

“And with its swift and timely response, the government was able to restore confidence in the economy. 19th in 2020.

“One of the major changes the UAE has had this year has been to align its Friday weekend with the rest of the world by changing it to a half-day Friday and Saturday-Sunday. four-and-a-half-day week, an ideal work week by global standards, making the country the hub of international financial networks to operate seamlessly with the weekly global business cycle.

“Although the country retains much of its traditional culture, the UAE has shown an open mind to embrace change in a big way. The notion that it is a conservative Arab nation has simply changed.In many ways the UAE has been a leader in There was a time when another country was the financial hub of the Middle East, but the UAE has now taken over the leadership role in the financial segment.

“The other major change the country has adopted is to allow 100% ownership of businesses to foreigners. Previously, there was a need for a local sponsor and partner. By easing conditionality, the Emirates The United Arab Emirates have become an open market in terms of establishment in both manufacturing and commerce. This makes the country a good place to do business in more ways than one. Investors now have the flexibility to make their own decisions The right to own a business is a big step forward for a country a good place to invest.

“The UAE marked a milestone in its space program when the UAE’s hopeful reached Mars orbit in February 2021 after a seven-month trip to the Red Planet, and became only the fifth nation after the United States, Russia, Europe Union (EU) and India. Data released by Hope about Mars has been made public. One of the objectives of the United Arab Emirates space program is to provide information on the weather and help improve agriculture.

“Due to its stable governance system, the country is a haven for businesses and investors around the world, which is an achievement where in many countries political instability has negatively impacted their economies.

“The UAE has thus evolved into a free market economy with a transparent rule regime. This is why they have been declared the second safest country in 2021 by the Index of the safest countries of Global Finance. At a time when the world is rocked by political volatility and natural disaster like the global COVID-19 pandemic, the UAE is a haven for the world’s businesses, ”the Sharjah-based daily concluded.

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