The UAE’s economic liberalisation, embracing of tax reforms and comprehensive revamp of the visa rules have provided a strong foundation for the economy, helping to take it to new heights in the next 5-10 years, says a new report.
The UAE has been at the forefront of regional efforts pursuing economic liberalisation policies, introducing value-added tax (VAT) in 2018, lifting corporate ownership restrictions, and privatising state assets. These reforms have added dynamism to the market and helped ensure the nation remained relatively insulated during the pandemic, the report says.
Source: www.tradearabia.com
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