"The government is currently working on a number of laws and regulations that will reduce procedures and lower licensing and business registration costs and make Dubai a more competitive place to work and live in,"
Hamad Bu Amim, Director-General of Dubai Chamber of Commerce and Industry, told Gulf News in an exclusive interview.
Once liberalise you cannot look back. Often you have to liberalise even more aggressively when the economy hits a speed bump, which is what has happened to Dubai. This place doesn't have a choice. That is why those who are patient and careful will reap the benefits.
This how Dubai works. It is like the tides. The expats come and go in waves. At the moment we are experiencing the tide going out. But with each cycle, the emirate must learn to build something that can be built upon in every cycle. This round they have over done it but they should be able to recover. The ones who take the pain are the labourers and expats. The locals as consumers do not matter but the quality of leadership is crucial.
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