Exporting to the United Arab Emirates

UAE. United Arab Emirates

Opportunities for Spanish companies in the United Arab Emirates

Strong points

  • Excellent geographic location.
  • One of the countries with the greatest political security and stability in the region.
  • Major funds of sovereign wealth.
  • Flexible, inexpensive labour market.
  • Growing internal and regional market.
  • Free flow of capitals.
  • Low taxation.
  • Many building and consulting projects in the tender phase
Growing economic interest of Spanish companies over recent years, which has led to greater presence of these in the country.

Weaknesses

  • Some legal-economic opacity
  • Excessive bureaucracy in administrative processes.
  • Political crisis in some neighbouring countries

Investments

There are opportunities in:

  • Civil engineering, modernisation and extension of infrastructures.
  • Hotel and restaurant sector.
  • Transport.
  • Food.
  • Chemical sector.
  • Environmental sector (renewable energies).
There are over 40 Free Zones where businesses can be established, specialising in different economic sectors or multisector areas. The most important of these is the Free Zone of Jebel Ali in Dubai.

Prospects

  • The measures adopted by the government with the intention of liberalising the market and diversifying the country’s economy have encouraged foreign investment, which has led to GDP growth rates of over 5% over the recent years.
  • The IMF projection for the coming years is for growth of over 3%.

 

Find us

United Arab Emirates

Sheikh Zayed Road Al Barsha 1st
Hassanicor Building Office 104 – PO Box 54171
Tel. (+971) 43 996 860

 

Contact

Banco Sabadell in the UAE

Experience

Via its representative office in Dubai, the main financial and services city of the United Arab Emirates, Banco Sabadell provides extensive knowledge of the region as the first Spanish bank to establish itself in the Persian Gulf area. BS has correspondence relations with most of the financial institutions in each country, since it has been operating in the area constantly for over two decades, first in Beirut and now in Dubai. It also has business lines with local banks to facilitate foreign trade operations for Spanish companies.

Services

  • Introduction of Spanish companies to the local market and banks.
  • Advice on many financial products: documentary credits, documentary remittances, collateral and guarantees, international reverse
    factoring, risk hedging….
  • Support for projects and investments in the UAE.
  • Constant contact with Spanish companies, local companies, agents, and their customers.
  • Transaction monitoring.