The most popular industries in Dubai according to surveys conducted in the past few years are IT and telecommunications. Some of the IT companies in Dubai include ACM, Iberia Calabrica, Secure Data International, Comper Systems, Datacom, Envirodesis and Sunbeam. Some of these companies have their branches in other states of UAE.
The telecommunications industry in Dubai includes call centers, telecommunication, telecom support and the installation, maintenance and repair of telecommunications equipment. Another lucrative industry here is that of the petroleum industry. A number of refineries have been established here. They process crude oil and gasoline. There is also a thriving petrochemical industry, which is employing a good number of people.
The petroleum industry in Dubai has become very important to the national economy. Petroleum is transported to different parts of the world for refinement and fuel distribution. This has brought about an increase in the demand for skilled manpower. This has lead to several companies recruiting personnel from the neighboring states. It has also attracted people from all over the world to work and live in Dubai.
Some of the major industries in Dubai which are benefiting from the city’s development plan are the electrical, mechanical, chemical and carpet industries. The city’s wide range of connections with other countries and the ease with which it can develop into one of the leading business hubs in the Middle East is further motivating factors for the city’s rise to greatness. The World Trade Center and the Madinat Jumeirah have contributed immensely to the city’s development. The World Trade Center has connected this part of the globe with other countries besides just Dubai.
A number of educational institutions in Dubai have also benefitted from the city’s development. The city’s well-qualified teachers are in great demand around the world. This has made the teaching sector in Dubai very attractive. The state-of-the art colleges, both private and government have contributed significantly to the upsurge in employments. Many of these educated individuals are working in multinational companies based in the city.
A number of IT companies have also set up their base in Dubai. This has created a niche for itself as one of the leading centers of information technology. The employment opportunities in the IT industry in Dubai are excellent and this has resulted in a lot of people from outside the country venturing into this arena. The demand for professionals who possess IT degrees is on the high side, so people from all over the world can benefit from the skills and knowledge of professionals.
These are some of the key reasons why silicon oasis Dubai companies prefer to work with the city. Other than that, the city’s favorable location has always been a factor that lure multinational companies to establish manufacturing units here. The city has an ideal geographical setup where manufacturing companies can easily set up shop. There are no logistics issues to contend with, and the city enjoys a low tax burden and excellent local transportation system – making it an easy decision for businesses to choose Dubai as their industrial hub.
The city’s strategic location, clean air, abundance of water and climate all serve as major factors that attract companies to set up plants in Dubai. The government in the city also offers many incentives to companies wishing to set up operations here. The Dubai SBI (Sheikh Dhabi Investment Corporation) and the Dubai Business and Investment Corporation (DBIC) are two of the government bodies that provide assistance to small and new businesses wishing to enter the IT industry. Many such companies also get state grants and bank loans to boost their start-up funds.
Other companies prefer to set up their headquarters in the Dubai silicon oasis because they offer a more relaxed working environment and they can Dodge the strict rules and regulations followed by companies in other countries. They enjoy greater flexibility, freedom and the ability to work out of doors and choose their own work places. This also helps them maintain a higher productivity level and cut down on costs and expenditures. Companies also find the Dubai location very conducive to do business and expand their operations.
The emirate is home to many multinational companies and international banks. They have an easy time getting legal permissions to operate in the city as there are few restrictions and laws followed by the authorities. In addition, there are no personal taxes to pay in Dubai unlike many other countries. The companies also enjoy many benefits like tax exempt status and many facilities like free internet, free housing, free medical treatment and many more. There are many perks to lure the corporate world to invest in the city.