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Mohamed Jamil DerbahaffirmsthatDubai has a strategic geographiclocation and flexible fiscal policies to foreigninvestment

Soldecanarias.net / Adeje

Itpointsoutthatit has one of themostimportantbanking centers in theworld

Thebusinessman and internationaladvisorfromseveralAfricancountries, Mohamed Jamil DerbahnowputshisaccentonDubai, which he pointsoutthat “itisone of those places to visit at least once in ourlives. ThemostoutstandingthingaboutthisEmirateisthatit has takenadvantage of itsresources and works to continueobtaining a highincome in thefuture, withouthaving to dependon a particular economicactivity”.

Itknowinglyindicatesthat “Dubai’sgrowth and resilience are explainedbyaneconomicmodelcalledthe ‘ABS’ model, whichaims at state-led development, attracting new businesses and promotingbrands. In addition, thenation has a strategicgeographiclocation, flexible fiscal policiesforforeigninvestment and numerousinfrastructureprojects, whichsupportitseconomicstability”.

He highlights “thepoliticalstability, security, cultural diversity and high standard of living in Dubai, are factorsthatadd to itsqualities. AllthismeansthatthisemirateattractsforeigninvestorsthroughitsspecialeconomiczonesthatveryfewStates can possess.

He affirmsthat “there are several free tradezones, which, togetherwiththe fiscal policies of thearea, are intended to promoteinternationaltrade, as well as beingessential to stabilizetheeconomy in thelongterm. Anotheraspect to highlightisthatDubai has one of themostimportantbanking centers in theworld, strengtheningthis in otherareas”.

Derbah, whowillgo to this country shortly, indicatesthat, “in terms of thesource of theirincome, themajority comes fromtheirexports and trade, oil and otherrecentitemssuch as tourism, especiallyresidentialtourism. As forhydrocarbons, thanks to governmentefforts, theDubaieconomyiscurrentlyonly 20% dependentonoil. Commerce and servicessuch as theaforementionedtourismdominateitscurrenteconomy”.

Thatiswhy, “in theface of this favorable economicecosystem, thousands of companieshavesettled in theEmirate, many of themwithcutting-edgetechnology and low-costenergyplans, creatinglarge industrial parks and encouragingthewelcome of new investors and tourists to the place».

FinallyDerbahpointsoutthat, “as a complementaryelement to thisdynamic, the real estate construction boom in Dubaiisbooming. In this place, projectsquicklybecomeMegaprojects, a clearexampleis artificial islandsorskyscrapersthatexceed 700 meters in height; BurjDubaiisanexample of themagnitude of architecturalprojects, 800 metershigh ”.

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