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Reducing the cost of doing business ... the key to the solution

Sami Al Riyami


February 18, 2021

Reducing the cost of doing business is the key word for the success of the economy to continue to grow in an acceptable manner in light of the current conditions that the global economy is going through in general, and the regional and local in particular, and initiatives to reduce the cost of business are the key to revitalizing the economy, and it is one of the most important reasons for improving the investment climate It is the gateway to the continuity of attracting capital, which in turn contributes to the continuity of the success of the business sector in general and in its entirety.

We have here in the Emirates in general, and in Dubai in particular, excellent and distinct economic elements, and our economy is characterized by vitality, flexibility and competitiveness, and we have the ability to develop, innovate and innovate, and we also have all the elements of leadership so that Dubai remains the best encouraging and promising environment for investors, and one of the best cities in the world to attract capital. And providing logistical services to investors, in an uncharacteristic way, because what Dubai offers today is the result of more than 40 years of work, effort and integration plans between sectors, and the time has now come to reformulate the goals, launch initiatives to preserve this amazing economic history, and ensure the continuity of the attractive investment environment. Able to deal with the requirements of the next stage.

We do not need, in the current stage, more than giving a strong impetus to our local economy, through a set of incentives and new investment and legislative facilities, which in turn reduce the cost of doing business, support companies of all kinds, sizes and levels, and work to attract new investments.

These incentives, and this reduction in the cost to investors, will inevitably lead to support for enhancing an environment conducive to economic growth, especially as Dubai is able to remain a pioneer in launching qualitative and creative initiatives, and implementing strategies that support its distinguished global economic and tourism position.

Clear, actionable and immediate plans must be made to re-study everything, evaluate everything, and set a timetable for rescheduling all services, reassessing them and pricing them appropriately, which does not lead to overstretching the general budget, nor does it exhaust companies and investors, rather it must be encouraging and motivating It guarantees the continuity of the success of investors, and gives the opportunity for the emergence of new investors and entrepreneurs, and there is no doubt that reducing the cost of work will help Emirati entrepreneurs to expand their business, and will relieve them a lot in this difficult time, so the long-term benefits, direct and indirect, from cost reduction initiatives It will benefit the economy in general, and it will undoubtedly mask the fears of some of the occurrence of losses or immediate financial deficits during this period!

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