In the UAE, economic activity is regulated by individual emirates as well as the Federal Government. In Dubai, the authorities have deliberately sought to create an environment which is well ordered without being unduly restrictive. As a result, Dubai offers businessmen operating conditions that are among the most liberal and attractive in the region.

There are many options open to international companies seeking to establish a business relationship with Dubai. Apart from forming a trading relationship, for many companies there are distinct advantages in being on-the-spot to research market prospects, make contacts, liaise with customers, and see through the details of any transactions and orders secured.

Having a presence can provide considerable business advantages in the Middle East. Businessmen in the region prefer to deal with someone they know and trust and personal relationships are much more important in doing business in the Arab world than they are in western Europe or America. Also, the buying patterns of some countries served by Dubai tend to be unpredictable, creating a need for first class market intelligence and information.

Morison Menon launches fourth edition of ‘Doing Business in the UAE’ handbook

– Special edition on Finance, Banking, Stock Market and Commodities

Dubai, UAE: March 11, 2007: Morison Menon Chartered Accountants, a leading accounting & consulting firm in the UAE, has launched the second part of its fourth edition of ‘Doing Business in the United Arab Emirates and UAE Free Trade Zones,’ which specifically addresses the Finance, Banking, Stock Market and Commodities sectors.

The handbook with special reference to the Dubai International Financial Centre (DIFC) was unveiled today by DIFC Governor Dr Omar Bin Sulaiman.

“In Dubai, we have worked to create a strong regulatory framework, with fundamental authorities and guidelines that enable us to compete on a level playing field with other global markets. By implementing international standards across the board and by developing quality facilities and infrastructure, Dubai is now recognized as the world’s fastest growing financial centre,” said Dr Sulaiman.

He added: “This handbook provides a valuable insight into the processes and advantages for businesses in the UAE. It clearly highlights the structures and standards that are in place, which create a favourable investment environment in the UAE.”

Mr Raju Menon, Managing Partner, Morison Menon, said: “UAE is growing exponentially in sectors that have largely been ignored or under-addressed in its formative years. Today, sectors such as finance, banking and insurance have gained considerable strength in the country and it is imperative that we address these sectors adequately.”

Part II of the ‘Doing Business in the United Arab Emirates and UAE Free Trade Zones,’ handbook offers useful and at-your-fingertips information on banking and finance companies. It also gives insightful information on financial intermediaries, consultancy services, investment companies, the Dubai International Financial Centre, the Dubai International Financial Exchange and the Dubai Multi Commodities Centre.

“The handbook also provides a detailed sketch of the UAE stock markets and enables investors to understand the pulse of the nation’s galloping growth in the financial and investment sector.”

Morison Menon has been bringing out the handbook on Doing Business in UAE and UAE Free Trade Zones since 1997. However, in its current (fourth) edition it has been organized into two parts – part-2 focuses on Finance, Banking, Stock Market and Commodities. The handbook also presents details on the RAK Offshore International Business Centre and other interesting facts that will help investors, business professionals and the public.

As is so often demonstrated, most of the big ideas do not make it to implementation stage because of the lack of the right information that is needed for entrepreneurs to assess the viability of the project. As a ready reckoner, the book also provides an overview of the UAE stock markets and the Dubai Multi Commodity Center. It covers a well-researched list of the banks in the country and the brokers on DFM and ADSM. While internet as an information tool does help investors gain information, the effectiveness of a focused research product, such as this handbook, cannot be undermined. Together with the first volume, which focused on Commercial, Industrial and Service sectors, these handbooks are an invaluable tool for investors and entrepreneurs cutting across sectors.

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