If there is anything that the United Arab Emirates has proven that it does well, it is business. Jitendra (1) described the general business environment in the UAE as follows:
Before 1984, each emirate, Dubai, Abu Dhabi, Sharjah, Ajman, Ras Al Khaimah, Umm Al Quwain and Fujairah, followed its own procedures governing the operations of foreign business interests. In 1984, Federal Law No.8 of 1984, its amendment by Federal Law No.13 of 1988 - the 'commercial Companies Law' and its by-laws have been issued. The law makes it conditional that nationals must wholly own the companies or that nationals must own at least 51% of its share capital, while the remaining 49% may belong to foreigners.
Dubai and the UAE are the largest market in the Middle East, second only to Saudi Arabia in terms of total trade (O'Sullivan 64).
To attract foreign businesses, Dubai, said John William Fenn (36), has made moves to create a commercial and leisure environment that will lead to the diversification of the economy and end reliance on oil reserves. The Dubai Marina is just one part of this effort, which also includes the provision of advanced home networking communications systems. The man-made marina is located on the Arabian Gulf in close proximity to the world's first six-star hotel, the Burg Al Arab, the Dubai Internet City, and the Dubai Media City.
Beginning in about 2000, the government of Dubai created a massive development project under the aegis Nakheel Construction, which is known as the Palm Island Development Project. Essentially, the project consists of a number of manmade island complexes at and off the coast of Dubai, which is experiencing dramatic economic growth and development, and which is a great locus for international business and finance (Osborne 18). Ronald Stive (1) says the fairly open and straight coast of Dubai in between Dubai City and the Jebel Ali commercial port at the southeast end of the Ara...