DUBAI, July 6 — The United Arab Emirates is cutting red tape to make it easier and quicker for digital companies to incorporate, the latest economic policy announcement as the government seeks to further diversify the economy away from oil revenues.
“We want to show digitally enabled companies from Europe, Asia, the Americas, that the UAE is the world’s best place to live, work, invest and scale,” the minister told reporters, setting a target for 300 digital companies to incorporate within a year. As other governments step up national efforts to increase renewable energy sources and move away from fossil fuels, the UAE is rolling out a series of initiatives to double the economy to US$816 billion by 2030.
Some company executives complain about the bureacracy involved in setting up a business, including in hiring international staff in a country where citizens are a minority.
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