It is known that in most cases the United Arab Emirates are one step ahead of others and use the latest technologies to make business in the country even more comfortable.
Comfortable business conduct illustrates the practice of e-commerce, which has gained popularity and admirers around the world for a long time.
The UAE could not ignore this business niche, especially as the perspectives for e-commerce are very attractive.
Unprecedented in terms of the scope of virtual trade was the creation in the UAE of the first free economic zone dedicated to e-commerce in the fall of 2017.
The Dubai CommerCity project is located close to Dubai International Airport and is estimated at approximately $ 735 million. The main goal of the project was the maximum promotion and development of Dubai as the leading platform for international e-commerce and further economic diversification.
It is expected that further promising growth of the e-commerce market at the regional level will allow to achieve a turnover of 20 billion US dollars by 2020. Apparently, the plans of the UAE in this respect, though very ambitious, are nevertheless very realistic.
In addition to direct cash flows corresponding to the active development of the banking sector, it is planned to increase the inflow of direct foreign investment. All this, according to the plan of Dubai 2021 will ensure the creation of a unique
and sustainable economy based on innovation.
The particular interest is connected with e-commerce in the sphere of so-called regional start-ups. The free zone will attract investment in business projects related to trade and provision of services in the field of information technology. Thus, several goals are achieved simultaneously, in addition to the actual development of the field of e-commerce.
According to Dr. Mohammed Al Zarooni, Director General of the Free Economic Zone of Dafza: “Dubai CommerCity will enhance the role of e-commerce as a key factor in the sustainable economy of Dubai.” In turn, this is provided by a clear developed plan to attract the largest possible amount of foreign investment through developed mechanisms that meet all international standards. For a foreign investor – this is an excellent chance to gain a foothold in the region, for business entities – to obtain the necessary funds for the further development of electronic commerce.