Dubai is known to be the vibrant and fastest-growing cities across the world, resulting it to be the largest and most popular cities in the UAE. Dubai is the global city and the business hub of the Middle East. Dubai is known to be the dominant global transport hub for passengers and cargo.
In recent years, The GDP in the UAE was worth 414.18 billion US dollars in 2018. The GDP value of the UAE represents 0.67 percent of the whole world economy.
GDP in the UAE has been calculated at about 137.54 Billion from 1973 until 2018, reaching an all-time high of 414.18 USD Billion. Dubai is one of the best places to start your business as the government power and regulation of power sectors have been kept to the least level. The economy of Dubai has been kept free to attract investors. Also, Dubai enjoys political and economic stability as Dubai is low in crime. The UAE government has a consistent commitment to business and liberal economic policies. As Dubai is advancing with days passing by, Dubai Science Park now inks deal to scatter more for US businesses.
Dubai Science Park
Dubai Science Park is a business community in Dubai that serves the provides the whole science sector and supports startups, entrepreneurs, SMEs and multinational enterprises proposing the first private laboratories in the region. The location is favourable as it is thirty minutes away from the Dubai International Airport and it is grown into a science-focused hub with more than three hundred fifty companies employing more than three thousand six professionals in the energy, life sciences and environment sectors.
DSP also offers commercial offices, laboratories and offices as well as a magnificent infrastructure and lively community for the residents.
Dubai Science Park focuses on aiming to play a vital role in Dubai 2021 by making smoother and more sustainable that engages the utilization of resources and talent. DSP will reach this by supporting innovation in the science by escalating growth and change in the areas of plant science, human science, material science, energy science and environmental science.
The partnership Agreement
DSP (Dubai Science Park) underwent in a partnership agreement with the 1792 Partners, a global advisory and ventured firm stresses on recovering the gap between health technology innovators in the UAE and the United States.
Memorandum of Understanding (MOU) pursues to create collaboration opportunities between DSP and North American business ventures. It also focuses on the objective to make it more convenient for the US companies to procure a foothold in the growing Middle East and North Africa (MENA) region.
The UAE is successful in stating itself as the US'S largest trade partner in the MENA region for the last past ten years. Lately, total cross-border trade between the two countries, which exceeded 24.5 billion dollars total US investment secured the top position in the table of Dubai.
The agreement was initiated during a high-level business mission of the state of California guided by the Dubai Investment Development Agency (Dubai FDI) and Dubai Exports.
Fahad Al Gergawi’s view
The CEO of Dubai, FDI Fahad Al Gergawi’s words upon this matter was “The UAE's global missions to the US represents an important opportunity to meet strategic investors looking to expand their businesses in Dubai - utilizing the emirate's competitive advantage and position as a global hub and gateway to regional growth markets."
Adding on this agreement, the managing director of Dubai Science Park, Marwan Abdulaziz Janahi, said that the US had been a long-lasting strategic partner of UAE and the most prominent foreign investors. Naturally, they continue to drive the momentum forward. Through the partnership with 1792, they will be able to cement with innovative companies in the US and equal them with other opportunities in the UAE and across the region that would help them flourish.
Reza Kazemipour’s vision
Reza Kazemipour is the founder and CEO of 1792 partners said that this is a special collaboration as there are no other initiatives that lead to bringing customers, investors and partners from the US and the UAE. It is also a chance for creative startups and established corporations seeking to start their presence in the UAE. They are excited to work alongside Dubai Science Park and introduce healthcare, pharma companies to the profits of operating in the Middle east.
With more than three hundred and fifty business partners, DSP focuses on making it stronger as a favoured destination for scientific, manufacturing, R&D and prototyping.
Dubai has ground for all from creatives to technologies. If you want to set up business in Dubai, our experts will help you with the legal documentation and with the process also. They will contribute to the fullest by simplifying the whole process as Commitbiz is one of the best consultants in the Middle East. It will provide you with premium service. For further details, contact us. We will be glad to assist.
1. When was the Dubai Science Park (DSP) established?
2. What is the Science Park Dubai location?
It is in Al Barsha south which is approximately 30 minutes from the Dubai International Airport.
3. What types of Dubai Science Park companies can be formed?
The types are:
FZ -LLC (Free Zone Limited Liability Company)
Branch of a foreign company
Branch of a local company
4. What certification do all the buildings of the DSP has?
All the buildings are certified LEED (Leadership in Energy and Environmental Design).
5. What facilities does the Dubai Science Centre provide?
The facilities are:
A world-class and unique laboratory with an area of 256,000 sq. ft.
Twenty-five warehouses with an area of 5,000 sq. ft. each
Land and offices for development