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Report | The Report: Dubai 2018

Dubai saw steady GDP growth of 3.2% in 2017 and is expected to reach 3.5% in 2018, with an increased drive towards consolidating its position as a knowledge-based economy. The emirate is among the most diversified in the region, thanks to factors such as a highly attractive business environment that has brought in large amounts of foreign investment.

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Chapter | Tax from The Report: Dubai 2018

This chapter contains an overview of the tax framework under which local and foreign investors operate, including a look at the GCC-wide value-added tax, which is being rolled out in 2018, a guide to international taxation treaties, and the investment and tax incentives available in the emirate’s free zones. This chapter contains a VP from Dean Kern, Middle East Tax and Legal Services Leader, PwC.

Chapter | Industry from The Report: Dubai 2018

A key driver of non-oil GDP growth, Dubai’s industrial sector continues to play an integral role in both its own diversification plans and those of the UAE. With a new sector strategy providing guidance for the government’s long-term goal of making the emirate a centre for global innovation, Dubai has plenty of opportunities to further develop its industrial sector. Its network of free zones, both established and nascent, together with a new focus on key sectors with high potential for growth, should contribute to substantial expansion of Dubai’s manufacturing and industrial footprint in the coming years, facilitating increased trade across the region. This chapter contains an interview with Mohammed Al Zarooni, Director-General, Dubai Airport Freezone Authority.

Chapter | ICT from The Report: Dubai 2018

Like the UAE as a whole, Dubai has one of the most advanced telecoms and IT markets in the Middle East, boasting high levels of smartphone and internet penetration, fast mobile internet speeds and a rapidly growing start-up scene. While prices in the sector – and the fixed-line market in particular – are relatively high, both the fixed-line and mobile segments are expected to see increasing competition in the coming years. A 2015 infrastructure-sharing agreement, as well as technological advances, should allow more customers to switch between the two main operators for fixed-line services. This chapter contains an interview with Aisha bin Bishr, Director-General, Smart Dubai Office.

Chapter | Education from The Report: Dubai 2018

With a vibrant and growing private school system generating annual revenues of Dh6.8bn ($1.9bn) and a cosmopolitan collection of international universities, Dubai’s education sector continues to flourish and to attract investment. Its schools and universities are striving to provide their students with the skills they will need to thrive and contribute in a rapidly evolving workplace. In recent years Dubai’s students have made great strides in international indices; now, while it continues to focus on academic achievement, the sector is putting a new emphasis on extra-curricular activities and career support. This chapter contains an interview with Abdulla Al Karam, Chairman and Director-General, Knowledge and Human Development Authority.

Chapter | Health from The Report: Dubai 2018

With new hospitals under construction, existing facilities expanding, and ambitious plans to improve the quality of treatment available not only for residents but also the growing number of medical tourists, Dubai has a competitive health care sector. Included in its expansion is the introduction of the universal health insurance programme in 2017, providing a sustainable safety net for the over 4m people who live or work in the city and their dependants. Looking ahead, Dubai aims to implement 15 strategic programmes encompassing 100 health care initiatives through the Dubai Health Strategy 2016-21, an overarching project of reform involving both the public and private sectors. This chapter contains an interview with Princess Haya Bint Al Hussein, Chairperson, Dubai Healthcare City Authority.

Chapter | Energy from The Report: Dubai 2018

The economy of Dubai may be considered an outlier for the region, for although its growth and prosperity has been fuelled by its proximity to oil, its own modest hydrocarbons endowment accounted for just 1.3% of GDP in 2016. While its oil-rich Gulf neighbours have long recognised the need to diversify their economies, Dubai’s leaders understood decades ago that the emirate could only prosper by innovating and tapping a range of revenue streams. Dubai operates as a centre for oil and gas trade and is home to many companies servicing the energy industry. Its government-owned oil and gas companies have an international footprint with upstream developments at home and overseas, as well as dozens of downstream ventures. Outside of hydrocarbons, Dubai has set ambitious targets to boost the share of renewables in its energy ecosystem, while striving to set an example for curbing consumption. This chapter contains an interview with Saeed Al Tayer, Managing Director and CEO, Dubai Electricity and Water Authority; and Saif Humaid Al Falasi, Group CEO, Emirates National Oil Company.