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Dubai
is the second largest emirate in the U.A.E. Its total area
is around 1000 square miles. Dubai's strategic location
on the international trading map has made it one of the
world's leading trading and commercial centers.
Dubai's growth can be traced back to the early years of
the century when the grandfather of H.H. Sheikh Rashid bin
Saeed Al Maktoum persuaded the British shipping line plying
between Britain and India, to make Dubai their main port
of call in the 1940s.
To further consolidate its position as a major port, H.H.
Sheikh Rashid bin Saeed Al Maktoum took an active interest
in the development of Dubai, he established a Police Force,
a customs service and developed trade connections with India.
Soon, in the 1960's, with the discovery of oil, money started
to pour in and Dubai's prominence and prosperity increased.
But aware of the risks of oil-dependency, Sheikh Rashid
actively promoted new industrial ventures. The Aluminium
and Cement factory are the result of this endeavour.
The Jebel Ali Free Trade Zone - the fifth largest in the
world within a short span of ten years, has attracted over
900 international companies. |
Dubai
offers a succession of critical supporting business environments.
Its geographical proximity to the talent and markets of
the Middle East, Northern and Southern Africa, the Indian
Subcontinent and the CIS, combined with the most sophisticated
logistic infrastructure between Europe and the Far East,
make Dubai the location of choice for businesses serious
about the region.
Dubai is politically stable and efficiently administrated.
Its government pursues a free and balanced economic policy
that has fostered an excellent international reputation,
and encouraged both national and foreign capital to invest
in almost every conceivable sphere of economic activity.
The non-oil sector in Dubai currently contributes around
90% of total GDP, and is expected to grow to 94% by 2005,
with manufacturing, tourism and services all growing strongly.
With the advent of Dubai Internet City,
Dubai Media City and Dubai Knowledge Village, this dynamism
is now being transferred to the development of the knowledge
economy.
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