90pc prefer UAE for setting up regional base
Dubai, April 13, 2011
Ninety per cent of respondents in a recent survey said that the UAE is ideal for the setting up of regional headquarters because of the quality of infrastructure, the low taxes, the security of expatriates and the strength of the market.
The study conducted by global management consultancy firm Bain & Company reflected an overall positive and confident attitude in the region despite the difficult geopolitical environment.
Many of the participating organizations noted an acceleration of growth in their respective sectors in the first half of 2011 and expected an even faster increase in the second half.
Over 50 per cent of them plan to increase their workforce during the current year. Respondents said the renewed confidence in the UAE is due to the significant reduction in the risk of bad debt and the stabilization of prices after years of double digit inflation.
Henry Zoleyn, president of the French Business Council, said: “The study reflects the strength of the mutual interests between the French community and the UAE. We definitely have felt more positivity in the last period as there has been an unprecedented 30 per cent increase in membership to the French Business Council over the past 12 months.”
On the other hand, French businesspeople believe the UAE needs to make progress in certain areas in order to be able to compete with other major business centres across the world.
More strict regulations of business practices, respect of laws and contracts signed by all organizations and increased local effectiveness of administrative procedures are some of the examples mentioned in the study.
A total of 91 companies participated in the study from both the Dubai and Abu Dhabi Chambers of Commerce. – TradeArabia News Service