Building a business enhances employment. Job creation or business building is a risky decision but one of the most effective factors that boost a nation’s economy. Today’s competitive environment is changing rapidly every second and one of the key cause of the change is technology. The widespread of technology has made the entire globe into a small village where every individual and every business is inter-linked through some platform and ultimately contributes towards the national and global economic growth as it provides tremendous employment opportunity. The United Arab Emirates (UAE), also known as the land of gold, has been aiming and working towards developing the entire nation as a land of business hub. The United Arab Emirates is a multi-cultural hub that comprises of millions of expats from the different corner of the world. The nation has been focusing on many projects for its development like ‘UAE Vision 2021’, ‘DubaiExpo’, etc. which will not just bring business but indirectly will also enhance employment.
Now, to boost the employment opportunities for the locals or Emiratis, the Emirates have got ‘Emiratisation’. Before moving ahead towards the job opportunities let’s understand what Emiratisation is all about that will help you to connect the dots.
Emiratisation is an important initiative taken by the Minister of Human Resource and Emiratisation (MOHRE) and Government of Emirates to overcome the issues related to employment. This program mandates the presence of Emirates people on the job field in any sector. Their mission is to help the local Emiratis in job search and provide full employment to the Emirati section.
In the first phase of the Emiratisation program, 5,740 jobs were created across various sections that included aviation, ICT, real estate, service sector, etc. and have exceeded the Ministry’s expectation by 47%. Realizing the massive benefit received, the Emirates have once again come up with another phase of job creation ‘100 days 3500 jobs’ that will boost employment on one side and simultaneously create an opportunity for investors and entrepreneurs to initiate their process of business set up on the other side. Want to know how? Do read ahead…
3500 Jobs for Emiratis in Next 100 Days
The Emirates has got a vast segment of different businesses ranging from retail, technology, tourism etc. that plays a major role in contributing towards GDP. It helps international trading and also becomes a centre of attraction for the public as well as foreign investors worldwide. According to Arabian news, the Minister of Human Resource and Emiratisation (MOHRE) has taken another step in the second week of September 2018, to create 3500 jobs in 5 major sectors in the next 100 days. More than 13 Memorandums of Understanding (MoU) has been inked with federal and government entities. The sectors include Financing, Banking, Insurance, Retail, and Tourism. Let’s have a closer look and understand.
Finance and Banking
This sector has shown a positive inclination since 2016 along with improved credit conditions that have improved it’s earning in 2017 as well. The advantages in this sector lie in the fact that the currency exchange system is not controlled by the state. Moreover, it has got a stable and robust economy along with a modernized and reliable banking system that helps easy account access for both individuals and corporates. As a part of the agreement, 1,000 jobs will be provided in this sector.
Another important sector considered in the agreement for job creation is the insurance sector. According to the report, 500 jobs will be created in this sector to uplift its position and drive a positive growth.
Retail and Tourism
This sector would fetch in 2000 jobs collectively so as to boost both the platforms assuring the presence of Emiratis.
Thus, you can see that these sectors are into prime consideration for job opportunities. At the same time, it is a golden chance for business enthusiasts to establish and incorporate a business in UAE. Do you hold any idea of setting up a business in UAE? Do you want to expand your business in UAE? Yes? Well, then it’s the right time to unpack your idea turning it into a reality. Wondering how to initiate? Don’t worry. Your solution is right below.
Commitbiz is a business setup consultant in UAE that has been helping and dealing with multiple companies at a global level irrespective of its nature and size. At Commitbiz, we understand the complexity behind company establishment process and focusing that we do provide a wide range of services ranging from incorporation process, accounting, taxation, visa, etc. that helps to build the business foundation. Our business experts not only guide regarding business establishment process but also help to clear the legal proceedings that is an essential process in business setup process in UAE. If you hold any query or want to seek even for an advice to initiate your first step, do contact us – we’d be happy to assist you.