|By TAP Staff| Being in Dubai helps businesses and investors to reap rich rewards, according to findings in a summary report compiled by Dubai FDI, the foreign investment agency in the Department of Economic Development (DED) of Dubai.
And the ease and competitiveness of doing business in Dubai is attracting the attention of worldwide investors, it adds.
The reports cover such key sectors as logistics, retail, information technology, health care and green technology, and the prospects in each of these sectors in the backdrop of the ongoing economic development strategies adopted in the UAE and Dubai.
The report on the retail sector tracks the anticipated impact of increasing private consumption in the UAE — estimated to grow at an average of 7.8 percent by 2015 — along with that of high disposable incomes, retail real estate expansion, steady inflow of international retailers, population growth and rising fashion consciousness in the country, on retailing in Dubai.
Between 2012 and 2015, retail sales in the UAE is estimated to grow 32.9 percent, from AED114 billion to AED151 billion, according to the Dubai FDI report.
Referring to Dubai’s efficiency, viability and profitability as a logistics hub, the sector report states that ongoing expansion of the transport infrastructure has further brightened investment prospects in the logistics and related sectors in the emirate. Dubai is the world’s third largest re-export hub and the UAE logistics market is expected to reach AED34.5 billion in 2014.
Being a vital element of a competitive freight network and located strategically in the Middle East, North Africa and South Asia (MENASA) region, Dubai provides the best connections to a quarter of the world’s population and a combined gross domestic product (GDP) of AED13.2 billion, which has tripled in size in the past decade.
Health care in Dubai is by far the best in the region and has also diversified into research and development, pharmaceutical production, equipment manufacturing as well as medical tourism, thus opening up for foreign investment and participation, says the report.
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