803 Makers Chamber - 5,
221 Nariman Point,
Mumbai - 400021,
Maharashtra,
India.
Moon Home Trading & Exports Pvt. Ltd. - India.
803 Makers Chamber - 5,
221 Nariman Point,
Mumbai - 400021,
Maharashtra
India.
About Dubai | Dubai Economy
Supported by oil reserves , Dubai has a strong economy. The Emirate's leaders however, are aware that oil reserves are projected to last only another 30 years, and have wisely embarked upon a major diversification program which they hope will result in the development of industries and commercial enterprises that will eventually take the place of oil as the predominate commodity of the economy. Already this policy has brought positive results and today, Dubai is recognised as a prominent industrial and commercial site in the Gulf region .
Nowhere is this policy more apparent than in Dubai's infrastructure, being one of the most modern in the Gulf, and ranked as one of the best in the world. Telecommunications, ports, and roads are among the best in the entire region. Dubai International Airport handles over 55 airlines, averaging close to 150 flights per day. The Jebel Ali Seaport , the largest man-made harbour in the world, is one of the most advanced and efficient in the world. It is linked directly to the Jebel Ali Free Zone .
Strategically located at the crossroads of Asia, Europe and Africa, Dubai is at the centre of a strong market and is firmly established as the business, financial and commercial hub of the region - a market of more than one billion people whose annual imports exceed $100 billion.
The Dubai Government's commitment to maximizing the city's IT potential is significant. With government support and encouragement, numerous e-initiatives and innovative projects such as Dubai Internet City and Dubai Media City , have put the city firmly at the forefront of the e-revolution.
Dubai's banking system is designed to provide a broad range of services that both businesses and consumers require. Dubai's currency is the Dirham , which is easily exchanged for other currencies. The state welcomes investors and entrepreneurs.
Opportunities in Dubai Dubai presents international business with a wide range of opportunities for different activities and operations, including:
Trade Transport and distribution Manufacturing and processing Regional offices.
THE DUBAI MARKET Dubai is the leading regional trading hub, and offers access to a market of outstanding potential for overseas companies in a wide range of sectors. Among its key characteristics are:
A large market - more than $17 billion in domestic imports annually
Gateway to a $150 billion p.a., 1.4 billion population regional import market
A growing market - Dubai's imports have more than doubled since 1989
Regional economic growth and liberalisation is set to boost demand
A prosperous market - strategic location at the heart of one of the world's richest regions
A diversified market - wide import requirements
Opportunities for suppliers of most products
An accessible market - served by more than 170 shipping lines and 86 airlines
An open market - no exchange controls, quotas or trade barriers
DUBAI - CITY OVERVIEW
Looking at the gleaming metropolis of 21st century Dubai, it is difficult to believe that just thirty years ago Dubai was little more than a desert-strewn wilderness where Bedouin tribes roamed the sands and a huddle of settlers crowded around the banks of the creek. As Europe embarked on the mass industrial destruction of the First World War, Dubai had no running water, no proper roads and the main mode of transport was the camel.
The city's remarkable success story really began in the 1960s. During the process of shaking off the shackles of British colonial rule, oil was struck in 1966 and Dubai has never looked back. Since the 1960s, the population has increased tenfold to over a million people, largely through an expat workforce, making it one of the worlds' most cosompolitan places. Emiratis represent only around one fifth of the total population.
Dubai's evolution has been dramatic, and today we see sweeping skyscrapers and glittering office blocks rising up on the banks of the Creek and along Sheikh Zayed Road, site of the new Dubai International Financial Centre. Development has been well managed, with a structure and order to the city that demonstrates that the oil wealth has been well handled and channeled.
The rulers of Dubai have a penchant for grand projects - one year a new extension to the port facilities, the next the world's tallest purpose-built hotel, the world's largest artificial islands, and now the US$18 billion Dubai Land; a huge conglomeration of leisure projects, sport facilities, resorts, shopping malls, residential housing and theme parks.
How the late Sheikh Rashid's mega projects transformed the emirate's economy.
Dubai mega projects In 1901, Sheikh Maktoum bin Hasher Al Maktoum established Dubai as a free port, abolished all tariffs, and began a programmed to persuade merchants from the Iranian city of Lingah to relocate to the Dubai Creek.
The natural harbor the Creek was critical to the early development of Dubai. But even by the Second World War Dubai was still a small town with a population of around 20,000 inhabitants. Dubai's real economic development began in the 1950s when the late Sheikh Rashid Bin Saeed Al Maktoum dredged the Dubai Creek, significantly expanding its capacity and rapidly repaying a loan from the Emir of Kuwait. Sheikh Rashid also founded Dubai Airport and established the first hotel in Dubai in 1959.
This gave way to the first construction boom of the early 1960s which took the population to around 120,000 at the end of the decade. It included the construction of Port Rashid with a five berth container terminal for the biggest ships of the time, and was greatly hastened by the discovery and development of oil reserves in Dubai. However, it was in the late 1970s, with the help of high oil prices and revenues, that Sheikh Rashid made his most grandiose development decisions. As early as 1972 Sheikh Rashid stunned his advisers with a decision to build a huge new port at Jebel Ali, with the initial phase of 66 berths completed in 1983.
At the same time, the construction of the massive three basin, one million ton capacity, Dubai Dry Docks project was entrusted to his younger son Sheikh Mohammed bin Rashid Al Maktoum, who today is Crown Prince of Dubai. The Docks opened in 1979 along with the 33-storey Dubai International Trade Centre.
All three of these projects were truly 'visionary' and widely seen as hopelessly uneconomic at the time. However, the $3 billion port became the Jebel Ali Free Zone, which is now one of the world's most successful ports and a key to the development of Dubai. The Dubai Dry Docks and Trade Centre also proved hugely successful, and contributed greatly to the commercial development of the city. Yet to put this vision into perspective, the cost of The Palm Jumeirah project today - an artificial island being built off the coast of Dubai, is estimated at around $2 billion.
At current prices the Jebel Ali port would cost more than $9 billion today, and was thus far more ambitious than any development project in Dubai in the present construction boom. Even the $5 billion Dubai Land theme park will not match this earlier project in scale.
With year round sunshine, and minimal rainfall, Dubai's idyllic holiday climate is attracting more and more tourists every year. Tourism is rapidly becoming one of the Emirate's biggest industries, with over 400 hotels in existence and dozens more under construction. A huge expansion is also planned for Dubai Airport, which is set to quadruple in size. Dubai's own airline, Emirates, is the fastest growing carrier in the world adding new destinations to its' portfolio every month.
