The UAE has always strived to become a role model for the younger generation in the Middle East, embracing diversity and encouraging innovation. It should be noted that the United Arab Emirates was the first country in the region to implement the Abraham Accords with Israel, paving the way to a new horizon of peace and prosperity for the citizens of the Middle East. “Now is a good time to pursue business opportunities and build a future of collaboration, mutual trust and prosperity,” says Borja Gervás, CEO of consulting firm Access UAE.
The country’s great success over the past 50 years is largely due to its long-term ambition and vision, which has enabled it to focus and keep its people focused on a common goal of constant development, entrepreneurship and building a strong and stable economy. . This is confirmed by its macroeconomic data: 10 million inhabitants and a GDP of around 400 billion euros.
The United Arab Emirates (UAE) is one of the countries with the largest reserves of oil (6th) and gas (7th) in the world and its economy is traditionally based on this sector. However, its authorities have embarked on an ambitious policy of productive diversification, which means that it now represents only 30% of GDP. It is worth highlighting the strong commitment of the UAE government to innovation, which has placed it in an advantageous position in the technological race, attracting talents and start-ups. In addition, they have significantly increased their weight in sectors such as construction, transport and logistics – it is considered a major logistics hub between Europe, Asia and Africa – as well as in tourism and the non-oil industry. The United Arab Emirates has a very favorable legal, regulatory, tax and financial business environment for investment.
According to Borja Gervás, “The UAE economy offers unprecedented business opportunities, the government has created a large ecosystem in relation to the economy based on favorable legal and fiscal regulations for its development. It can be assured that Spain is one of the countries that has been aware of all these improvements and opportunities, highlighting bilateral trade and investment. All this is reflected in the more than 150 Spanish companies that are now permanently established in the United Arab Emirates”.
In this sense, Spain has become the nerve center, acting as a link between relations with Latin America, both for Europe and towards the countries of the East. A privileged platform for companies in the Middle East that allows them to do business in Latin America, without forgetting that the United Arab Emirates is a preferred hub for international companies wishing to do business in Asia.