August 20, 2022

Positioning Dubai as a global hub for business, Dubai reveals its priorities

Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum recently launched Dubai Global, a program that will establish 50 integrated commercial representative offices across five continents throughout the world within the next few years, with the aim of positioning Dubai as one of the world's most attractive business centres.

As part of its wider campaign to position itself as a global business hub, the UAE has also rolled out incentives to attract 300 digital companies. Adding new markets to Dubai’s global business lines has been a goal of Sheikh Hamdan's to globalize the national companies.

As he continued, "We will have an economy which doubles in the next few years and be number one in quality of life."

According to Coursera's Global Skills Report released inJune 2022, the UAE also topped the rankings for overall business skills proficiency.

Several business skills, including leadership, management, strategy, operations, communication, human resources, and entrepreneurship, showed a high level of proficiency among UAE learners, compared to their peers globally.

With numerous strategies, the UAE attracts both firms and talent as a global business hub, including the following ones:

Start-ups and entrepreneurs will be bolstered by a$100 million venture capital fund launched by the Crown Prince of Dubai

Deputy Crown Prince of Dubai and Chairman of Dubai ExecutiveCouncil, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, has approved the establishment of a $100.73 million (AED 370 million) Venture Capital Fund for Start-ups with the aim of promoting and supporting Dubai's start-ups.

The Venture Capital Fund for Start-ups, administered by Dubai International Financial Centre (DIFC), contributes 15 percent to the fund. It will provide enterprises with a variety of choice funding options.

Small to medium-sized start-ups projects will be financed with $100.73 million (AED 370 million) from the fund, supporting their development in Dubai and gradual expansion overseas.

It is expected to increase the emirate's GDP by approximately 3 billion AED during the implementation period. It will run for eight years, with an option to extend the period by two more years.

Furthermore, it will create more than 8,000 jobs for young people, strengthening Dubai's status as a regional hub for entrepreneurship, fintech, innovation, and venture capital, and ensuring its attraction to investors and entrepreneurs from around the globe.

A meeting of the Executive Council approved the launch of the venture capital fund.

Sheikh Hamdan bin Mohammed led the meeting and said: "Dubai has earned a reputation for being a city of entrepreneurs and risk-tolerant investors because of its flexible legislative system, robust financing tools, effective regulatory environment, and dynamic public and private sectors. The tremendous opportunities Dubai offers have attracted the best talent and investors from around the world. A bold ambition is nurtured in Dubai."

 

Are you considering establishing a start-up in Dubai or open a branch for your company here?

Find out more about Dubai free zone company formation from our Bolster consultants: https://www.bolster-group.com/company-formation

 

 

Read More :

Get in Touch with Us

Get a 30-minute free consultation on starting your company

Worldwide Company Registration
Empower Your Entrepreneur Project with Bolster

Get in Touch

Office 2004, Boulevard Plaza Tower 2, Dubai UAE

© 2022 Bolster Group