Since a very long time, Dubai has occupied an outstanding position on the trade map of this region. It has always been a flourishing business centre, and its Creek has played a major role in the economic development achieved by this city. The Creek has constantly been an important and a safe harbour for small and medium size ships which sail to the ports of the Arabian Gulf region, the countries of the Indian subcontinent and East Africa, loaded with different goods which are re-exported to these various regions.
Business Activities in Dubai
Dubai is distinguished as one of the trade centers in the Arabian Gulf region. It has acquired this position for several reasons which can be summarised as follows:
Dubai occupies a strategic competitive location in the middle of the U.A.E. coast stretching along 400 miles. Its distinct location in the south - western part of the Arabian Gulf enabled it to play an active trading role in linking the maritime lines on one hand, and facilitating transportation of goods between the East and the West on the other hand.
Dubai has strengthened its distinguished strategic location by pursuing a free and balanced economic policy that has given it a good reputation in the international, commercial and economic communities, which encouraged national and foreign capitals to enter into successful investment ventures in different commercial, industrial and services fields.
Dubai has boosted the importance of its strategic location and emphasised its free economic policy by setting up complete infrastructural projects along with other services and utilities. Dubai has put in operation these facilities with high efficiency which had an immediate and positive impact on growth rates in the economic sectors, social development and improving living standards of the individual.
In general, the economy of the Emirate of Dubai is based on two main activities which are non-oil trade and oil producing and exporting. Dubai has witnessed, during the last three decades, rapid growth of its trade and industrial activities taking advantage of its several characteristics including its strategic location over-looking the Arabian Gulf, the completion of its infrastructural projects and the running of these facilities according to the latest standards. This has enabled Dubai to become one of the most important centers for imports, exports, and re-exports in the region. During the last two decades Dubai has worked to strengthen its industrial base with the aim of diversifying the sources of income. Therefore, it has established heavy industrial projects in the Jebel Ali Free Zone, and the active private sector has contributed to setting up medium and small manufacturing industries achieving a kind of self sufficiency in some commodities, and even in certain commodities local needs are exceeded and the surplus is exported to overseas markets. |