Page 116 - Aamir Rehman - Dubai & Co Global Strategies for Doing Business in the Gulf States-McGraw-Hill (2007)

100 Dubai & Co.

is that the national bird has become the crane—not the animal, but
the construction vehicle. Unlike London or New York, in Dubai you
will see hardly any buildings more than 30 years old. Historical
monuments are few and far between—arguably they are just being
built today.
Don’t let the overwhelming newness of the GCC countries mis-
lead you. The region has a long history and values many of its tradi-
tions. Its public-sector and business leaders remember when times
were very different, wealth was scarce, and commercial attention
from the outside world was far less. Deeply connecting with GCC
markets requires awareness of the region’s history; social, political
and economic dynamics; and evolving business environment.
Multinational business leaders who understand the region’s back-
ground can build deeper relationships with decision makers from all
segments of the population—merchants and big-business leaders,
consumers, public officials, and others. As with many emerging
markets, efforts made to learn about the past and background of
present conditions will often result in a better future for those who
take the trouble to do so. Such research will surely produce a more
rooted and strategically sound view of the current markets.
This chapter will provide you with the essential background
you need—the must-have information about GCC markets. The
goal is not to present an exhaustive history lesson, but rather, to
convey the essence of each market through highlights of its past
and present experiences. You will find that each GCC market has its
own unique characteristics—like a distinct organic entity—shaped
by its natural resources, geography, leadership, demographics,
development strategies, and a host of other features.
Silicon is made from sand, and in the GCC this metaphor is par-
ticularly relevant. In the following pages we will distill the essentials
of each market and how it has reached its current state. After read-
ing this chapter, you will be able to approach each GCC country—
and the entire region—with a more informed understanding.

THE UNITED ARAB EMIRATES:
“THE TRAILBLAZER”
Over the past decade, the United Arab Emirates (UAE) has emerged
as the GCC’s trailblazer and center of innovation. The UAE—most