Why is Dubai so rich?
Up to now, many people still mistakenly believe that Dubai is rich thanks to oil. However, in reality, the oil and gas industry only accounts for 4% of total GDP income in this country, the remaining revenue comes from real estate and tourism. It can be said that oil is the premise that helped Dubai take its first steps, but to achieve its current wealth, the country’s leaders have set many goals and implemented them with policies. very effective.
► Value objective : The value objective of the country of Dubai is to promote economic growth by targeting foreign investors. To achieve this goal, the country’s leaders have introduced many preferential tax policies as well as business cooperation, specifically:
– Allows the establishment of companies with 100% foreign capital. The capital and profits these companies generate will be transferred back to their native countries without any fees. However, the owners of these companies are required to do business with a local person and share profits fairly.
– Enterprises are not charged import tax, re-export tax and income tax during the first 15 – 50 years of operation.
– The business registration process and business establishment procedures are carried out very quickly.
– Focus on investing in infrastructure to support investors’ activities. This job not only generates income for the government but also contributes to improving people’s quality of life.
► Human target : Dubai is the country with the largest population among the 7 emirates of the UAE. Not only indigenous people, more than 1 million people living in Dubai come from many different countries around the world. The leaders of this country have set human goals with family policies and human rights development to improve the quality of life while avoiding the loss of national cultural identity. Specifically:
– Guaranteed employment issues. Dubai citizens receive a lot of support and benefits from the state.
– Free land is provided with interest-free loans as well as house construction subsidies.
– Personal income tax exemption, relatively low housing costs.
– Dubai allows foreigners to live and own real estate in their country.
– Indigenous people who get married will be given a house by the government, and their children will be supported to raise and educate them until they reach adulthood, and even invest in studying abroad.
► Profit goal : Dubai leaders set a low cost goal along with profit to build a rich and strong country, becoming one of the largest economies in the world . To achieve this goal, Dubai has:
– Become a part of the United Arab Emirates. Therefore, Dubai does not need to spend money on building an army, establishing a diplomatic mission or its own currency management agency.
– Government services and administrative fees account for 3/4 of the government’s income, so they are considered quite expensive.
These images show the wealth of Dubai:
Construction sites, cars and phones are plated with gold.
Police are given super cars to work.
Raise leopards as pets.
The bus stop is equipped with air conditioning.
Gold bars are sold at the market and can be bargained for.
Impressive architectural works and skyscrapers.
There are large shopping areas, amusement parks, and resorts right in the middle of the desert.
Food and drinks are added with gold at prices up to tens of millions of dong.
