Middle East – Investments on a continued high level
In Middle East and especially in the Gulf States, enormous investments are undertaken in the area of oil & gas, public infrastructure and diversification of the economy.
In addition mega-events like the Expo 2020 in Dubai or the Soccer-World Cup 2022 in Qatar have a major impact on investments. They cover not only the substantial build up in various Sports- and Event Venues, but also expansion work of railway and road infrastructure and others like leisure parks and hotels. The most modern Metro is operating in Dubai and soon another one in Doha.
Countries like Saudi Arabia, Oman and the United Arab Emirates have an increased focus on diversifying their economies, among others with the objective to create job opportunities for their young population. Investments in renewable Energies resp. energy-efficient systems are steadily increasing.
At the moment there is a trend developing that solar power may be even cheaper than fossil generated power. Creative, future oriented solutions are required in all markets. Products and solutions from the “Deutsche Mittelstand” as well as all German Manufacturers are highly recognized and rated what provides an ideal strategic advantage to establish reliable business relationships and generate new business.
Dubai – with its strategic location and liberal economic environment
Where is the best location to start addressing the very interesting markets in the Gulf States and their neighboring countries?The answer is quite simple: Dubai!
Dubai is one of the global logistics centers per se, especially the connections to Europe, the other Gulf States, Africa, Iran, Central Asia, Southeast Asia – and at the end to the rest of the world are unparalleled.
E.g. 30 % of all Iranian Imports are from Dubai, making Dubai by far the largest trading partner with Iran. In times where the Iranian Market is opening again – Dubai is the best place to address this opportunity. In the meantime Dubai undertakes major investments in the development of its own in solar energy – what makes them a worldwide frontrunner.
In May 2016 the Dubai Electricity and Water Authority (DEWA) has published the tendering results for the 800 Megawatt (MW) solar power plant – the next phase of the Sheikh Maktoum Solar Park. The prices offered in U$ Cent / kWh are partly substantially below the rates for fossil power generation – a truly game changer in the power generation industry.
Dubai is characterized by an enormous growth. Only within one decade the population has doubled.The International Airport is one of the busiest in the world.
A very special success story are the Dubai Free Zones. In the Free Trade Zones (economic zone with special status) foreign investors can own 100% shares. From there they can conduct their business worldwide free of any taxation. Profits are fully convertible and transferable. 80% of UAE´s non-oil related exports are from these industrial free zones.
In addition life circumstances and life style in Dubai is unparalleled in the world. Almost 90 % of the total population are foreigners from more than 220 countries in the world. They all work in a friendly and truly multicultural environment.
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