Industry Localization
Industry Localization in Dubai-Fueling Growth and Innovation
Dubai has emerged as a prime destination for industry localization in UAE and all over the Middle East where investors from all over the world are taking interest in setting business footings and further business expansions to the rest of the UAE and the Middle East. The UAE has a potential to uplift the business entities to the global level where there are no linguistic and cultural limits. People from all over the world appreciate and own the business messages they receive from the companies established in the UAE. Moreover, there are numerous industries in Dubai which are growing rapidly due to its strategic location, business-friendly policies, and a forward-thinking government.
What is Industry Localization?
The process of concentrating similar industries or businesses in a specific geographic area is called industrial localization or industrial clustering. The collaboration between different stakeholders leads towards innovation and growth within the sector which is the outcome of the clustering of related industries. The government of Dubai has paid special attention to this concept therefore, industry-specific zones and clusters have been created so that the business from various sectors can be attracted.
Key Benefits of Industry Localization in Dubai
Access to Strategic Markets:
The businesses and investors which want unrivaled access to rich markets of Europe, Asia, and Africa can benefit from the strategic location of Dubai. When a company establishes its business in Dubai, it becomes easy for the company to tap into a vast consumer base composed of people from different linguistic and cultural backgrounds, migrated from all over the world and those key markets as mentioned earlier can be reached easily which might otherwise be challenging to access.
Business-Friendly Policies:
Now the investors can enjoy different soft policies of Dubai’s government including tax incentives, 100% foreign ownership in certain industries and simplified regulatory procedures. These policies attract and support businesses to survive and grow in an extreme competitive environment where powerful investors are taking interest to occupy different industries and markets.
State-of-the-Art Infrastructure:
World-class infrastructure has been built which also serves as an attraction to the people all over the world. This infrastructure is not only facilitating the residents but also playing a vital role in its economical growth. The infrastructure includes modern airports, seaports, logistic facilities and use of cutting-edge technology in various places. This infrastructure is facilitating industries in transportation of raw material and final products from one place to another, and from manufacturers to end users.
Dedicated Industry Zones:
There are several dedicated industry zones and free trade zones in Dubai which are established to facilitate specific sectors such as technology, healthcare, fiancé and more. In this way, the needs of businesses in these industries are fulfilled by offering specialized facilities and services through these zones.
Skilled Workforce:
There are different training sessions and workshops conducted by different organizations to train a workforce which can serve different industries and to meet the workforce requirements. Different educational institutions are also offering educational programs for the purpose. In this way, companies find the talent which can lead the industry towards innovation and growth ultimately contributing to the economic growth of the Emirate.
Proximity to Innovation Centers:
There are various research centers, innovation hubs, and universities in Dubai. The companies find the talented youth from these educational institutions to run their businesses. Therefore, collaboration between businesses and academic institutions opens new horizons for industrial research and development.
Industry Clusters in Dubai:
There are different industrial clusters made by Dubai government for specific sectors such as:
