The four-and-a-half day working week is another twist in the UAE’s drive to attract business and investment in the Gulf Cooporation Council (GCC). according to a GlobalData analysis.
It points out how the weekend switch is the latest in a string of measures that have enhanced the competitiveness of Abu Dhabi and Dubai as regional centers, as it puts them on the same working schedule as other regions — most notably in the Far East, Europe and North America. It will further enhance the appeal of the UAE as a regional headquarters for international companies operating in the Middle East.
Another move came in late November, when UAE President Sheikh Khalifa bin Zayed al-Nahyan approved new laws and legislative amendments described as the largest legal reforms in the UAE’s history ahead of the country’s 50th National Day celebrations on 2 December 2021. More than 40 laws are included in the legal package to develop the country’s legislative structure in sectors, including investment, trade, commercial companies, trademarks, personal security and crime.
GlobalData says the measures come as Saudi Arabia moves to attract regional headquarters to Riyadh. In January, it initiated a program that requires companies contracted by the Saudi government to have their regional headquarters in Riyadh.
While both countries may be seeking to achieve the same goals, their methods are in many respects diametrically opposed. The UAE has sought to be more accommodating by introducing measures that make it a more attractive destination for international businesses and their staff, while Saudi Arabia has been more punitive by saying it will exclude global companies that do not have their regional base there, it says.
But it concludes that as the competition for business intensifies, the relative merits of each approach will be known in the coming years.
