Dubai PR Network, Online Press Release from Dubai and Middle East
 
Government Sector(Government, Legal & Humanity)
Filter PR by
  
UAE ‘takes lead' in building its position as a hub for investment and international talent
 

Government has shown itself to be proactive by regional and international standards, says law firm

Dubai, UAE, 26 December, 2018:   The UAE has moved ahead of other regional and overseas destinations in positioning itself as a hub for investment and international talent, say experts at STA Law Firm. 

The introduction of a long-term visa system for investors, entrepreneurs, specialised talents, and researchers has been warmly received by business analysts, and STA says the initiative can deliver even broader long-term economic benefits than initially seen.

“The government has shown itself to be proactive by regional and international standards in tackling economic issues head on with resolve and strategic action,” said Sunil Thacker, Senior Partner at STA.

“The recent approval of the new long terms visa system underlines its ongoing commitment to make the UAE a pre-eminent destination for attracting investors and international talent.”

The new system means eligible investors will receive either a five or ten-year residency visa while qualifying entrepreneurs will be able to obtain a five-year residency visa with the added incentive of later being able to earn an investor visa.

Thacker sees the offer of long-term security for investors and entrepreneurs delivering a raft of economic benefits.

“A surge in private investors and entrepreneurs will supplement the UAE’s current workforce and help stabilise the economy,” he said. “The projected influx will help balance the outflow of funds remitted by expatriates, which amounted to AED164.3 billion in 2017, and ensure more money remains in the local economy.”

Thacker says the availability of long-term visas will help boost competitiveness within the UAE economy by shifting the focus from the reliance on oil and gas sectors to a knowledge-based economy.

“An open-door policy towards investors and entrepreneurs regarding longer visa periods in addition to the 100 per cent foreign company ownership reform will encourage further investment in the country,” he said.

“More business enhances competition which will drive companies to develop a leading edge in their specific sectors. This will create more business hubs, further reinforcing UAE status as a global business hub and leader for technology and innovation.

“There has already been a surge in confidence as a result of the Cabinet initiative, as reflected by the immediate growth in shares of Aldar Properties and DAMAC by one per cent, and we can expect more government initiatives to build on this momentum.”


Posted by : Dubai PR Network Editorial Team
Viewed 6924 times
PR Category : Government, Legal & Humanity
Posted on : Wednesday, December 26, 2018  2:33:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Sultan Orders Key Changes in Sharjah's Human Resources Law R...
Next Story : Sharjah Museums Authority signs MoU with Sharjah Police to h...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Tonda 1950 Stone-set range' [10913-Views]
Parmigiani Fleurier Kalpagraphe Chronometre Titanium [9766-Views]
Colourful Anniversary Limited anniversary edition now available in new colors [8162-Views]
Toric Hémisphères Rétrograde Slate The traveller's watch featuring a new guilloché dial [6893-Views]
Special edition 2019 Ford Expedition ‘Turath' arrives in Al Tayer Motors and Premier Motor... [6576-Views]
Aston Martin Valkyrie Wows Crowds on Public Debut at Silverstone [6429-Views]
Sports Collection - Autumn Winter 2019 [6094-Views]
Salvatore Ferragamo Timepieces – Summer 2019 Collection [6033-Views]
Happy Eid with Corum Golden Bridge Round 39 [5771-Views]
Picnic Indoors This Summer with Marks & Spencer [5417-Views]
The inauguration of codeshare flights between Kuwait and Istanbul-Sabiha Gökçen Airpo... [5203-Views]
Kitchen Hacks: 8 Clever Ways to Smart Storing [5197-Views]
Tissot Heritage 1973 The racing legacy [5130-Views]
Ralph Lauren at The Championships, Wimbledon – Wednesday 10th July [5081-Views]
Schneider Electric's Biggest Engineer-to-Order Factory in Asia Utilizes IIoT Technology an... [5008-Views]
The Perfect Shave Kit for your Summer Travels [5008-Views]
Ralph Lauren at The Championships, Wimbledon – Sunday 14th July [4569-Views]
Summer Skin Rituals with SUKIN [4422-Views]
Peugeot announces sizzling summer offers [4227-Views]
Union Coop Reports 20% Growth in Net Profit for the First half of 2019 [4069-Views]
Ride Into the New School Year with the Coolest Gear [4008-Views]
IHG signs world's largest voco with Maad International in Saudi Arabia [3953-Views]
Summer-ready BABY-G G-Lide BAX-100 makes splash this hot season [3520-Views]
FW 2019 Amazone' [3483-Views]
Robotics and Automation to the Fore at Materials Handling Middle East [3392-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories