Abstract:
Over the past decade the emirate of Dubai has emerged as a leading transport and logistics centre serving not only the Middle East and North Africa (MENA) region, but also Russia, Europe, Asia and the Far East. This has been driven by concerted and far-sighted government initiatives which since the mid-1970s have sought to diversify an economy underpinned by oil revenues, but with an otherwise limited domestic resource base. With little arable land and a very small and un-skilled population, Dubai was a pearling port and regional entrepot based around shipping until the discovery of oil in the 1960s. A succession of formal government plans has introduced incentives and inducements aimed at encouraging Free Zone based companies to set-up operations in the emirate with the aim of fast-tracking the establishment of a modern, service-based economy. Initially the planning focus was on establishing the finance, tourism and property sectors as well as on significant expansion and upgrading of...
Description:
Global Business & Economics Anthology, Vol. II, Issue 2, December 2011
