Filipinos in the UAE praised Dubai’s continuous drive to encourage expats to launch their own business in the region to open more opportunities for everyone.
Dubai Economy’s Business Registration and Licensing sector recently issued a record 5,885 new licenses in August 2021, representing a growth of 54% compared to 2020.
Dr. Karen Remo, CEO and Managing Director, New Perspective Media Group, publisher of The Filipino Times, stated that this measure empowers Filipino residents in the UAE to venture into business and for Philippine-based companies to expand their presence in the country.
“Entrepreneurs are very important to a country’s economy because they are the wheels of growth. Were it not for their new ideas that plug the gaps in the market, there will be less employment and less economic development. That is why minimizing the barriers to entry for aspiring entrepreneurs is critical in getting these wheels to start rolling. Entrepreneurship here is made more alive with more relaxed rules in opening a business,” said Dr. Remo.
She added that women are now more encouraged to begin their businesses with the ease in processes that Dubai provides for expats in general: “When there is ease of doing business, there is also a higher likelihood of a better work-life-balance. Women, who in general take care of their children or elderly, have better opportunity to start and run their business at the same time.
“The UAE has simplified the process of setting up businesses, which has resulted in opening new opportunities for women to start their own ventures. Entrepreneurship, rather than regular employment gives women the advantage of working on their own terms even if caregiving remains a part of their expectations,”
“With Filipinos forming the third-largest expatriate community here in the UAE, 52% of whom are women according to the Philippine Statistics Authority, Dubai paves the way for Filipinos and Filipinas to begin realizing their dreams to become their own bosses and transform their passions into a successful business enterprise,” said Dr. Remo.
Lito German, CEO, SandBox Middle East that supplies Filipino products such as Delimondo in the country said that the UAE has increased the confidence of Filipinos to leave their employment to take the leap to entrepreneurship.
“The UAE has been consistent in providing an open, safe and stable environment for new businesses to thrive in. But as the UAE market offers itself as fertile soil for businesses, other elements have to serve as the seeds and fertilizer for a rich harvest. In other words, to enable Filipinos to leave the comforts of employment and jump into entrepreneurship, other support factors have to come into play such as access to capital, training, business matching, and so on.
“The UAE and Dubai have already done, and continue to do, so much on their part. Hopefully, other stakeholders from the private and public sectors of the Philippines will contribute more to support the dreams of budding Filipino entrepreneurs here in the UAE,” said German.
Kamal Vachani, Group Director and Partner at Al Maya Group praised the UAE’s continuous growth as an attractive destination for investors to fly to the country and begin their business venture: “A remarkable 54 per cent year-on-year growth in new Dubai business licenses is great news and further strengthens Dubai’s position as one of the top destinations in the world for starting a new business. The Government of Dubai gives special attention to ease of doing business in the Emirates and that’s the reason more and more investors are willing to start a business in the Emirate.
“The Invest in Dubai platform is another great initiative of the Dubai government to facilitate investors in one place for all their needs and to complete the business licensing process. We are blessed to be living in Dubai and doing business here in UAE. The ease of doing business in Dubai is the best in the world,” added Vachani.
Ellanie Villena, Owner of Angel Wings International Tourism, noted that since the Dubai government allowed 100% foreign ownership, more expats have since been enticed to set up their businesses in the country.
“Dubai Government has done a spectacular effort in supporting all business enterprise in the UAE. They have opened doors of opportunities for many entrepreneurs today, so it is no wonder that residents will gain interest in starting their own business. Allowing 100% Foreign Ownership is one notable factor, I believe, that enticed not only our fellow kababayans but many expats in the UAE. Dubai allows us to set up a business in a simple manner. The flexible rules of the city makes it attractive for anyone to invest. Connecting and making bridges for different businesses is easy because the UAE provides and supports networking events,” said Villena.
She also added that Dubai’s support for the tourism industry and businesses in general had a huge impact in the economic recovery of the country.
“The UAE had taken big steps this pandemic. The tourism industry is now back and moving big. It is no doubt that the business sector in Dubai will continue to increase rapidly because of the business opportunity this Expo 2020. UAE is set to rise in global prominence and economic status as the Government handled the pandemic very well that even during this time of a pandemic, many still want to start their own business,” said Villena.
