31 Jul Special economic zones in UAEConduct a research on
Special economic zones in UAEConduct a research on the 2 special economic zones namely, 1. Abu Dhabi Global Market 2. Sharjah Media City. Put the below items in one excel sheet, and the answers next to each other side by side.Answer the question; How and what does the above economic zones contribute to the UAE economy.Define opportunities and practices in the above 2 special economic zones: General description of the zoneObjectives of the zoneVision statement of the zoneMission statement of the zoneZone establishment year,Zone area (emirates and city),Location of zone (airport, port etc.),Zone area sizeName of the administration of zone (name of government, name of private entity etc.),Key functions of the administrative organizationZone is developed by private developersType of zones (eg. xport, service etc.)Business licenses types they issue to investors (e.g. industrial, commercial, service etc)Types of legal business establishment (Branch , Sole, LLC etc.List of business activities and categories (health, renewable energy, construction, gold etc.Number of registered companiesServing market (domestic, export, re-export)Capital requirement for any business to set up in each of the above economic zones(AED)Registration cost (AED)Business permit fees (AED)Service charges (AED)Lease type (e.g. land, office etc.)Office rental fees per square meter (AED)Land rental fees per square meter (AED)Number of years for leases (max/ min Years)Water fees (AED)Electricity fees (AED)Tariffs (AED or %)Corporate income tax (if no tax holiday) (%)Personal income tax on direct and indirect employment (%)Import custom duties (AED or %)Export custom duties (AED and %)Taxes on zone products sold to the domestic customs territory (AED or %)Tax exemption period (Year)Concession fees for other facilities (port, power plant, and so on) (AED or %)Analyze specific aspects of establishing a business in selected special economic zones: Zone offering processing of visaProcessing time of visaFreelancer visa availabilityZone is considered as outside domestic customs territory (Yes/No)Companies in the zone are eligible for national certificates of origin (Yes/No)Companies in the zones are eligible to participate in national trade agreements & arrangements (Yes/No)There is No minimum export requirement (Yes/No)Foreign companies are eligible to export (Yes/No)Local firms in the zones are eligible to export (Yes/No)Expansions of existing enterprises is allowed (Yes/No)No Limitation on Foreign and Local Ownership (Yes/No)Equal treatment on Foreign and Local Ownership (Yes/No)Sales to the Domestic Market is Permitted (Yes/No)Sales to the Domestic Market is provided on a blanket basis rather than case by case (Yes/No)Sales to the Domestic Market is treated as import into domestic market, subject to payment of import duties and taxes (Yes/No)Purchases from Domestic Market is treated as exports from domestic market (Yes/No)Companies are eligible for indirect exporter benefits (Yes/No)Labor Policies is full consistency with international labor organization (ILO) labor standards (Yes/No)There is specialized dispute settlement mechanism (Yes/No)Appraise the different circumstances that encourages entrepreneurs to start up a business in selected special economic zones: Special Economic Zone Facilities (Listing)Number of Employees (Number)Value of Exports (AED)Value of Business Transactions (AED)Foreign Direct Investment (AED)Foreign Exchange Earnings (AED)Assess the business practice skills that needed to establish businesses in special economic zones: Business incubation (Yes/No, Description if yes)Business matchmaking is offered to companies (Yes/No, Description if yes)Providing information on products and services of established companies in the zones (Yes/No, Description if yes)Trainings sessions are offered to companies operating in the zone (Yes/No, Description if yes)Funding and financing are available to companies operating in the zones (Yes/No, Description if yes)Research activities/facilities available in the zone
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