Dubai a Safe Business Haven

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Dubai a Safe Business HavenDubai a Business Haven

Dubai has been declared as a ‘safe haven for business’ in a report by the Washington-based Institute for International Finance. Despite the current period of upheaval in the Middle East, the report found that the UAE has seen an increase in foreign funds being deposited into its banking system.

The IIF stated that the economic and social factors that have contributed to unrest in other parts of the region, are absent from the UAE. Dubai’s superior infrastructure, high standard of living and relatively open and tolerant society have helped to reinforce social stability.

Within the UAE’s banking sector, the report found that total banking deposits were up by 14.3% in the year to March 2011 and cited ‘improved confidence in the UAE economy’ as a contributing factor.

This stability has also contributed to the significant recovery of Dubai’s trade, hospitality and finance sectors. Consequently, growth is projected to accelerate in the UAE from 2.7% in 2010 to 3.8% in 2011 and 4% in 2012. The full report can be found at www.iif.com

Category: Dubai, Dubai Investments Park, Dubai Media City, Dubai News

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