Doing Business in Abu Dhabi

• About Abu Dhabi
  • Doing Business in Abu Dhabi
  • Living in Abu Dhabi
  • Culture and Heritage
  • Comparative Living Costs
  • Other Considerations
• Abu Dhabi Economic Vision 2030
• Regional Market Opportunities

With a supportive regulatory environment, a clear road map for development and restructured government departments dedicated to serving businesses and residents, Abu Dhabi has created an environment of opportunity for companies and entrepreneurs from the UAE and the rest of the world. This combination of factors has created a mood of optimism within Abu Dhabi and the UAE regarding business prospects and the future in general. In fact, international surveys regularly show the UAE is one of the most optimistic countries in the world.

Yas Island, Abu Dhabi This is further supported by the Abu Dhabi Economic Vision 2030 -- a comprehensive plan that outlines the steps to be taken to transform the Emirate’s economy by 2030. Key goals include reducing the oil and gas sector’s share of the economy, significantly diversifying the scope of economic activity into education, banking & finance, tourism, media, and manufacturing sectors such as aluminium and petrochemicals, and with a particular focus on nurturing and developing knowledge-economy industries.

The Emirate’s well-studied, broad-based economic diversification, alongside expectations that its population will triple by 2030, provide key drivers for economic growth that will see demand increase across all areas of the economy, from health, education, financial services and media to real estate, manufacturing and business services. This will generate tremendous opportunities as the government and the private sector spend billions of dollars developing the Emirate’s infrastructure, including roads, public transportation, electricity, water, wastewater and telecommunications.

As well, Abu Dhabi itself offers the ideal gateway to the economies of the region, as well as wider Asia, because of its central location, excellent transportation and telecommunications networks, and long-established trade and business links between the GCC and key surrounding regions, including the Indian subcontinent.

Business culture

Downtown Abu Dhabi The UAE is a highly cosmopolitan well educated society, familiar with the methods and means of doing business worldwide. However, there are a few points that people new to the Arab business environment should keep in mind. Here, more than anywhere else, business is conducted on the basis of personal relationships and mutual trust. It is vitally important to build on these. Although it is changing rapidly and large firms are structured as in the rest of the world, companies are often a family affair, with the ultimate decision-maker being the head of the family. Even if this is not the case, it is essential to clearly identify the decision-maker. Your initial meetings will probably be at a lower level. These are also very important as a means of building mutual trust. Print your business card in English and Arabic and make sure that all brochures and presentation material are full-colour and well produced. Good manners and courtesy are prized attributes. Nevertheless, although you should always arrive on time for a meeting, punctuality is not considered a virtue, and you may be kept waiting before or during your meeting. Do not be impatient. Take the time to chat and drink the coffee, tea or soft drink that is always on offer and establish the relationships that will stand you in good stead. Do not be put off if your meeting is interrupted by other guests or telephone conversations. The upfront, hard-hitting approach is generally not welcome. Be aware that what may seem like evasiveness on the part of your host is usually an unwillingness to say no to your face. Nevertheless, once a deal is made, orally or otherwise, an Arab businessman’s word is his bond, and you are also expected to perform accordingly, even if the agreement is a verbal one. This can be disconcerting if you come from a business environment where verbal agreements are not binding.

Hospitality is a way of life in the Arab world and business is frequently conducted over lunch or dinner – more than likely in a hotel or restaurant. It is also considered polite to return the invitation. Emiratis are generally warm, extremely hospitable and respectful. It is customary for locals to offer their guests refreshments or tea or to invite them for a meal during a visit. Declining either is considered rude. Openly admiring an object (say vase or piece of furniture) in the host’s house renders him or her honour-bound to present the same as a gift to the guest, which begets a gift of similar value or stature from the guest at a later stage or time.

Business hours

Government offices are open from 7:30am to 3pm, Sunday to Thursday, while private companies normally operate between 9am and 6pm. Some establishments have three to four-hour break from 1pm, and resume operations in the evening from 4pm or 5pm until 9pm. It is recommended to visit government offices in the morning and to make a call to confirm an appointment prior to leaving for the appointment.

Women and business

In the UAE many professional women are often found in senior positions and are treated seriously, particularly if the woman acts in a confident and self-assured manner. It is advised to dress conservatively and maintain good grooming – all business people, male and female, are impeccably dressed. Patience and good humour will carry you through most situations.