|Halal Ranking||3rd in Global Muslim Travel Index (GMTI) / Crescentrating; 3rd in Global Islamic Finance Development Indicator|
|Halal-related agencies Intro|
|Halal compliance guidelines Intro|
Over the years, Emirates Authority for Standardization and Metrology has necessitated the provision of quality infrastructure, monitored the activity of credit through development, sustainability, ensured compatibility and met requirements of international practices, and procedures with the demands of the region. Following Dubai's achievement during the last economic and social period, it has now resurfaced with refined objectives to preserve the predominant goals and continue to value the efforts of physical investments provided by the Emirates Authority for Standardization and Metrology.
To achieve this vision, Emirates Authority for Standardization and Metrology has taken prior measurements. Issued by the 19 Council of Ministers Resolution No.10 of the national legislative system for Halal products in January 2014; the Emirates Authority for Standardization and Metrology has now introduced a special 'Emirati system' for the control of Halal products. This system comprises of basic elements pertaining to Halal products, destination certificates and accreditation bodies such as the Halal certification mark that constitutes the optimal model to ensure the sequence of processing, and obtaining Halal products.
|Halal-related trade and trading|
United Arab Emirates (UAE) is second on the Global Islamic Economy Indicator with strong scores in Halal Food, Islamic Finance and other sector ecosystems. It has particularly strong scores in Islamic Finance, Halal Food and Travel where it ranks as top three. Several initiatives under-taken by the Government to promote and develop the Islamic economy combined with being one of the safest destinations in the Middle East makes UAE a prominent hub in the Islamic Economy.
|Investment and Export Promotion Agencies Intro|
Emirates Investment Authority (EIA) is a sovereign wealth fund
Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund
Abu Dhabi Investment Council (ADIC) is a sovereign wealth fund
International Petroleum Investment Company (IPIC) is a sovereign wealth fund
Mubadala Development Company (Mubadala) is a sovereign wealth fund
The UAE maintains a position as the major trade and investment hub for a large geographic region, which includes not only the Middle East and North Africa, but also South Asia, Central Asia, and Sub-Saharan Africa. The country ranked 12th of 143 economies in the World Economic Forum’s 2014-2015 overall Global Competitiveness Index, and 22nd of 189 on the World Bank’s 2015 Ease of Doing Business report, moving up seven places and one place respectively from the previous year. Multinational companies cite the UAE’s political and economic stability, rapid population and Gross Domestic Product (GDP) growth, fast growing capital markets, an absence of corporate and personal taxes, and the absence of evidence of systematic corruption, were all positive factors contributing to the UAE’s attractiveness to foreign investors. Despite regional headwinds attracting Foreign Direct Investment (FDI), UAE's inward FDI held at USD 10.1 billion in 2014 according to the United Nations Conference on Trade and Development (UNCTAD), slightly down from USD 10.5 billion in 2013.
The UAE government (UAEG) is, however, opening up trade sectors in line with its World Trade Organizations (WTO) obligations. Investment laws and regulations are slowly evolving with the goal of making the UAE more conducive to foreign investment. The UAEG recently passed a new Companies Law. There is an additional eighteen draft laws which are meant to address a number of concerns that have discouraged foreign investment in the UAE. These laws include insolvency and arbitration laws, in addition to a draft foreign investment law. The UAEG has publicly declared its commitment to cutting red tape for foreign investors with the intent of becoming the most competitive economy in the Gulf as well as one of the top economies globally. (Source: U.S. Department of State-2015 Investment Climate Statement-United Arab Emirates)
|Investment and Export Promotion Agencies Names||Emirates Investment Authority|
The UNCTAD reports that the United Arab Emirates has 46 bilateral investment treaties, of which 31 are in force, and 14 other international investment agreements, of which seven are in force. There is currently no bilateral investment treaty between the U.S. and the UAE. However, a Trade and Investment Framework Agreement (TIFA) was signed in March 2004, and it has served as a basis for dialogue. As a member of the GCC, the UAE is covered by the U.S. - GCC framework agreement for trade, economic, investment, and technical cooperation as signed September 2012.
The United Arab Emirates Federal Customs Authority lists some of the more recent trade agreements with other nations.
|Company ownership limits |
(foreign and local)
Over the decades, the Emirate of Dubai has started to look for additional sources of revenue. High-class tourism and international finance continue to be developed. In line with this initiative, the Dubai International Financial Centre was announced, offering 55.5% foreign ownership, no withholding tax, freehold land and office space and a tailor-made financial regulatory system with laws taken from best practice in other leading financial centres like New York, London, Zürich and Singapore. A new stock market for regional companies and other initiatives were announced in DIFC. Dubai has also developed Internet and Media free zones, offering 100% foreign ownership, no tax office space for the world's leading ICT and media companies, with the latest communications infrastructure to service them. Many of the world's leading companies have now set up branch offices, and even changed headquarters to there.
Issued on: 01 Sep 2004
Issued on: 01 Feb 2008
Issued on: 01 Jun 2007
|Media & Recreation||108.60|
|Pharma & Cosmetics||103.77|
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