The possibility of creating their own enterprises in the UAE was discussed at the export webinar at the National Marketing Center of the Ministry of Foreign Affairs
Valery Sadokho, Director of the National Marketing Center, noted a number of factors favorable for the development of Belarusian exports to the UAE. Among them, he highlighted: the constant growth of the UAE economy through diversification, a developed transport and logistics infrastructure, the absence of income tax, a developed banking system, and a stable domestic political situation. Valery Sadoho emphasized that the UAE economy is the most open in the region of the Middle East and North Africa. And the attractiveness of such a market, of course, entails a high level of competition in it among European, American and Asian companies.
“The legislation of the UAE since 2018 provides for the possibility of creating commercial enterprises in the country with 100 percent capital,” Valery Sadokho explained. - Such enterprises can specialize in 122 types of production and services and can be created in the form of an LLC or a private joint-stock company. The conditions for creating such an enterprise: the presence of a minimum authorized capital, the need to use new technologies, and attracting local labor.”
The features and restrictions of the import of goods into the UAE, the creation of a distribution network, the advantages of e-commerce and the use of fulfillment centers for our exporters were discussed at a webinar with the participation of experts from UAE IQ Fulfillment and MCE Advisory - Business, banking & finance experts , Consulate General of Belarus in Dubai.
At the end of 2019, trade between our country and the UAE amounted to about $ 90 million. The main export positions were special-purpose goods, petrochemicals, wood products, and food products. The volume of bilateral trade in services (IT, transport, educational, tourism and others) amounted to more than $ 130 million. Direct investment in the economy of Belarus from the UAE amounted to about $ 50 million.