The United Arab Emirates has long been recognized as a leader in the global economy and has taken a proactive approach to developing its own economic future. Following “Vision 2021” the UAE has implemented a comprehensive master plan called “We the UAE 2031” to ensure that the country’s economy remains competitive and to double the country’s GDP to AED 3 trillion.
The plan centers on three main areas: enhancing the standard of living for citizens, fostering a sustainable and diversified economy, and enhancing the business environment. It includes initiatives to create a more transparent and efficient business climate, support research and development, and develop a skilled local workforce. Additionally, it aims to reduce the cost of living and improve the quality of life for citizens.
The UAE has heavily invested in education, training, and skills development to ensure that its future labor market is competitive and productive. It has also implemented measures to improve employment opportunities for citizens and attract foreign investors, and established initiatives to help businesses access capital and technology to stimulate the growth of innovative industries.
Swiss, German, and Austrian companies, referred to as German companies in the text, are likely to play a vital role in the UAE’s development plan, particularly in areas such as technology, renewable energy, infrastructure, and healthcare. German companies possess the expertise, experience, and technology that can contribute to the country’s economic growth and development.
As German companies have a strong presence in the UAE. They are well-positioned to assist the UAE in achieving its ambitious goals. Furthermore, the number of companies headquartered in Germany entering UAE’s labour market is steadily increasing, and the Gulf region could be among the ones with the highest growth potential in the coming years.
German companies can benefit from the UAE’s efforts by taking advantage of the Emirate’s infrastructure investments, construction projects, and technology initiatives as they have the expertise and innovative technologies to help the Emirates realize its goals, such as smart city initiatives, renewable energy projects, and transportation infrastructure improvements. German consulting companies assist the UAE with their expertise to develop and implement effective strategies to meet their economic and environmental goals. Additionally, German companies could form partnerships with Emirati businesses to share expertise and develop innovative products and services in industries such as:
- Automotive and Aerospace
- Renewable Energy
- Logistics and Connectivity
- Agriculture and Food Technology
- Water and Energy Efficiency
- Manufacturing & Industrial Automation
“We the UAE 2031” offers the following benefits for German companies:
- Access to a large market: with a population of nearly 10 million people and a rapidly growing economy the vision offers access to a large market,
- Favorable business environment: it offers a favorable business environment, with a strong emphasis on foreign investments, low taxes, and a simplified process of setting up a business
- Strategic location between Europe, Asia, and Africa: it provides German companies with a strategic location for conducting business in the Middle East and beyond
- Connectivity: it provides access to world-class infrastructure, including airports, ports, and a well-developed transportation network
- Strong support system: German companies can benefit from strong government and private sector support, such as access to capital, business incubators, and a range of tax incentives
Sustainability plays a major role in UAE’s vision 2031. In line with the “Vision 2021”, “We the UAE 2031” focuses on further strengthening the UAE’s commitment to sustainability and improving the nation’s resilience to climate change. The country’s goal is to become one of the top 25 countries in the world in terms of sustainability, and the vision 2031 outlines a comprehensive plan for achieving this goal. The plan focuses on transitioning to a green economy, transitioning to cleaner energy sources, conserving water resources, and reducing carbon emissions. The UAE also plans to invest in renewable energy sources and green technologies, as well as promote sustainability in all sectors of the economy.
German companies could contribute to the sustainability program of UAE’s Vision 2031 in several ways. These include investing in clean energy and renewable energy technologies, supporting environmentally friendly transportation options and infrastructure, advocating for sustainable water and waste management practices, participating in sustainable urban planning initiatives, and providing expertise in green technology and sustainability best practices. German companies could also collaborate with UAE partners to develop innovative products and services that reduce environmental impacts. Additionally, they can support educational programs to help raise awareness about sustainability and the importance of environmental protection in the Emirates.
Overall, “We the UAE 2031” aims to ensure a vibrant and competitive future labor market. It will further enable the country to attract foreign investment and create new employment opportunities. This plan is expected to create a large number of jobs across various sectors in the coming years and will continue to attract international skilled labor. Departer – The German Headhunter is looking forward to continuously connecting DACH companies with proven Middle East business leaders who build successful teams in the region and take advantage of the opportunities presented by the UAE’s ambitious development plan.[/fusion_text]