- 90% of French Entrepreneurs Prefer the UAE for the Setting up of Regional Headquarters
- More than 50% of French business representatives shows confidence in the region by planning to increase investment and recruitment
Ninety per cent of respondents to a survey, conducted by Bain & Company from the 23rd of January to the 12th of February, believe that the United Arab Emirates is ideal for the setting up of regional headquarters because of the unrivalled quality of infrastructure, the low taxes, the security of expatriates and the strength of the market especially in Abu Dhabi. The study illustrates how the combination of both the quality of Dubai’s infrastructure and the drive of the Abu Dhabi market gives the UAE an important competitive advantage in the Middle East.
Henry Zoleyn, president of the French Business Council, said the study reflects the strength of the mutual interests between the French community and the United Arab Emirates. We definitely have felt more positivity in the last period as there has been an unprecedented 30% increase in membership to the French Business Council over the past 12 months.”
The survey reflected an overall positive and confident attitude in the region despite the difficult geopolitical environment. Many of the participating organizations noted an acceleration of growth in their respective sectors in the first half of 2011 and expected an even faster increase in the second half. Over 50% of them plan to increase their workforce during the current year. Respondents said the renewed confidence in the UAE is due to the significant reduction in the risk of bad debt and the stabilization of prices after years of double digit inflation.
On the other hand, French businesspeople believe the UAE needs to make progress in certain areas in order to be able to compete with other major business centres across the world. More strict regulations of business practices, respect of laws and contracts signed by all organizations and increased local effectiveness of administrative procedures are some of the examples mentioned in the study.
Ninety one Companies participated in the study from both the Dubai and Abu Dhabi Chambers of Commerce.