UAE – The UAE’s business landscape saw a bigger shift, with the main focus being on full commercial ownership, smart data, and maintainability, a panel of experts showed recently in a business series held at the Capital Club Dubai.
The ‘Changing Landscape of Business ownership in the UAE’ series focusing to simplify the several laws and regulations for business owners and entrepreneurs in Dubai. The panelist showed that commercial company law, extremely helpful proprietors, monetary substance guidelines, shrewd information, maintainability, and computerized change are in charge of all the changes occurring in the business ecosystem.
The previous few months have seen the declaration of some critical changes to the UAE economy and keeping in mind that the declarations have been invited both here and globally, organizations are presently anxiously anticipating the subtleties.
The panelists were Arshad Khan, CEO of The Arabian Bourse; Dr. Anuraag Guglaani, Partner, UHY James Chartered Accountant; Hala Bou Alwan, founder Hala Bou Alwan Consultancy; and Deepak Ahuja, chief revenue officer, Sehteq.
“The UAE has displayed amazing abilities to handle the pandemic and stir forward the economy for robust recovery and plan for 2021 by creating investment-friendly business confidence,” said Khan.
The UAE appreciates a universally perceived standing as a business center, with the public authority backing it up with a top-notch framework, free zones, ports, best-in-class air terminals, and freight center points, among others.
Capital Club Dubai’s Entrepreneur Committee Co-chairman, Deepak Ahuja said: “I strongly believe that we at Capital Club have a role to play in helping the entrepreneurs and therefore, we aim to help them get a better understanding of new rules and regulations and will answer many questions that they may have. This will also be helpful for budding entrepreneurs who are planning to start their own firms in UAE.”
As per the World Bank report on “ease of doing business rankings”, the UAE was ranked 11th in 2019 and 16th in 2020. Guglaani said: “Covid-19 has accelerated and broadened the 4th Industrial Revolution with the rapid expansion of e-commerce, online education, digital health, and remote work. As economies emerge from the shock and stimulus of Covid-19, businesses face a shakeout, including stagnation in advanced economies and lost potential in emerging and developing markets, making it harder to achieve long-term sustainable development.”
New guidelines taking into consideration full foreign responsibility for organizations, just as new 10-year visas for financial backers and experts, are set to make UAE an intriguing field for business.
Capital Club Dubai CEO, Vic Barreto: “In the times that we find ourselves, it is imperative for business people to have these conversations in order for them to be able to make informed decisions. The Capital Club Dubai is a platform to facilitate the exchange of such ideas, synergies, and information to keep businesses and SMEs relevant.”
Dubai stood in the third position all over the world and second in the ‘Major Cities’ category as per the report published by fDi Intelligence, as part of the Financial Times. The top ranking in the new ‘FDI Global Cities of the Future 2021/2022’ report confirms the emirate’s status as a magnet for foreign direct investment.
Hala Bou Alwan said: “The changing landscape series came up as a result of diversified regulatory demands and intense requirements which might have resulted in confusion or tension among entrepreneurs and company owners, shareholders and stakeholders. While UAE has been providing amazing flexible platforms for entrepreneurs, there are many regulations & compliance requirements in place which need to be adhered to. The Capital Club provides this platform to encourage these discussions while laying all requirements on the table & learning from experts how to find ways where business development & growth work positively hand in hand with satisfying regulatory demands.”