Page 406 - Sustainable Cities and Communities Design Handbook

Business Ventures and Financial Sector Chapter j 19 379

l Industry-Specific Policies, e.g., Information and Communications Tech-
nology, Creative Business Sectors, Emerging Businesses;
l SME Professionalization and Capability Development Program covering
skills and leadership development, corporate governance, accounting,
financial and investment management, business continuity, operational and
productivity excellence, etc.

EASE OF DOING BUSINESS IN THE UAE

18
Doing Business report is one of the key instruments providing quantitative
measures of regulations for:
l starting a business,
l dealing with construction permits,
l getting electricity,
l registering property,
l getting credit,
l protecting investors,
l paying taxes,
l trading across borders,
l enforcing contracts
l resolving insolvency.
The above-mentioned issues are concerned with the domestic SMEs. This
internationally recognized report assesses countries on how easy it is for SMEs
to conduct business.
In 2010 the UAE climbed 14 places in the Doing Business report compiled
by the World Bank and its International Finance Corporation. The UAE rose to
the 33rd position in the global rankings for regulatory reform, partly as a result
of the government’s decision to abolish a 150,000 AED minimum capital
requirement for some start-ups.
Two other key reasons for the country’s rise was a streamlining of the
process involved in obtaining construction permits and the improving of
capacity at Dubai ports. 19
The following important improvements were carried out in 2010:
l business start-up was eased by simplifying the documents needed for
registration,
l abolishing the minimum capital requirement,

18. http://www.doingbusiness.org.
19. Vine P. (Ed): UAE 2010 Yearbook, Trident Press Ltd and The National Media Council.
Mayfair, London 2010.