The UAE (United Arab Emirates) is bursting with business opportunities. In this episode, I speak with Fahem Almusa who is the Director for the Internal Audit and Accounting Advisory at Crowe UAE of the Crowe Global networks. Crowe is ranked as one of the top 10 largest accounting networks in the UAE (by the International Accounting Bulletin). Fahem is U.S. educated but lives in the UAE so he really understands the global conversation!
01:25 – Fahem shares his experiences about how Dubai opened business and economic opportunities
- Fahem came to Dubai around 1999 when Dubai was still putting infrastructures, roads, and free zones
- Dubai is a multinational/cultural city because of foreign workers working for Dubai’s development
- Fahem also talks about the security for the people with different culture/religion
- Dubai is like New York as the “city that never sleeps Lockdowns in Dubai during the pandemic and opening again on June 2020
6:17 – Where the trend is going for western institutional investors and what sectors should they look at
- Dubai is still booming and there is an abundance of opportunities/projects to invest
- You don’t need to spend a fortune to buy a property whether it’s residential or commercial
- The way of doing business in Dubai is western being the English is the main language and Arabic
is the second
- Most of the large Middle Eastern companies are also located in Dubai
- If you work in Dubai, you don’t pay any tax
13:55 – How the Gulf states also extremely focused on alternative energy and climate initiatives
- Dubai does not depend on oil. As Dubai is a commercial city, only 10-15% of the annual budget comes from oil. The main source of income is tourism
- Electric cars are increasingly popular in Dubai
- Plastic use has been minimized to lessen the environmental impact
- Dubai has strict guidelines in cars, zero-emission as much as possible
18:01 – The shift where money is coming into the region rather than the oil money going out of the region
- There is a shift with money coming in and more big projects coming with other countries like Egypt, Jordan, and Saudi Arabia
- Everything is negotiable with the government that’s why investors are flocking
20:00 – Is economic growth possible despite ongoing conflicts in the Middle East?
- UAE doesn’t want to get involved with other countries’ conflicts in the region
- UAE is Switzerland of the Middle East
Connect with Fahem
Connect with Atara Twersky!
About The Author
As a securities class action attorney, my goal is to assist you in maximizing claim recoveries related to your investment portfolio, including direct claims, class action claims, class action settlement claims, derivative claims, tax recovery claims, and where appropriate to pursue whistleblower claims and more that help to protect the integrity of the securities markets. My podcast provides the legal and investment community to which my private investor, public fund, and union fund clients belong, with up-to-date- information relevant to their investment portfolios. I want to assure my clients that while we may not have seen one another in person these past months, I have been working diligently on your behalf to continue to provide our practice leading services while maintaining my high level of personal attention that I believe is essential to an authentic and long-lasting relationship with my clients.
For more information on ways to join cases and to increase your investment portfolio recoveries read my blogs and listen to my Pensions and Investments podcast. Providing information and creative ways to ensure my clients recover all monies due to them in the simplest ways is my overarching goal.
Atara Twersky, is of counsel at AF&T. Atara is also the bestselling author of the children’s book series, Curlee Girlee, inspired by her own young curly-haired daughter and written for all curly girls in an effort to ensure they love themselves and their hair exactly as it is, understanding that their hair is part of a greater legacy they share with those who came before them. You can find out more about Atara here. Listen to other podcast episodes Pensions and Investments podcast with Atara Twersky here or wherever you listen to your favorite podcasts!