Fahem Almusa, Auditor at Crowe Mak, Talks About Business Opportunities in Dubai

Fahem Almusa Auditor at Crowe Mak, Show notes

01:25 – Fahem, of Crowe Mak, shares his experiences about how Dubai opened business and economic opportunities

  • Fahem came in Dubai around 1999 when Dubai was still putting infrastructures, roads, and free zones
  • Fahem is now auditor at Crowe Maks
  • Dubai is a multinational/cultural city because of foreign workers working for Dubai’s development
  • Fahem also talks about the security for the people with different culture/religion
  • Dubai is like New York as the “city that never sleeps Lockdowns in Dubai during pandemic and opening again on June 2020

6:17 – Where the trend is going for western institutional investors and what sectors should they look at

  • Dubai is still booming and there is abundance of opportunities/projects to invest
  • You don’t need to spend fortune to buy property whether it’s a residential or commercial
  • The way of doing business in Dubai is western being the English is the main language and Arabic
    is the second
  • Most of the large Middle Eastern companies are also located in Dubai
  • If you work in Dubai, you don’t pay any tax

13:55 – How the Gulf states also extremely focused on alternative energy and climate initiatives

  • Fahem of Crowe Mak says Dubai does not depend on oil. As Dubai is a commercial city, only 10-15% of the annual budget comes from oil. The main source of income is tourism
  • Electric cars are increasingly popular in Dubai
  • Plastic use has been minimized to lessen the environmental impact
  • Dubai has strict guidelines in cars, zero emission as much as possible

18:01 – The shift where money is coming into the region rather than the oil money going out of the region

  • There is a shift with money coming in and more big projects coming with other countries like Egypt, Jordan, and Saudi Arabia
  • Everything is negotiable with the government that’s why investors are flocking says Fahem of Crowe Mak

20:00 – Is economic growth possible despite ongoing conflicts in the Middle East?

  • UAE doesn’t want to get involved with other countries’ conflict in the region says Fahem of Crowe Mak
  • UAE is Switzerland of the Middle East

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About The Author

Atara Twersky, is of counsel at AF&T.  Atara is also the best selling author of the children’s book series, Curlee Girlee, inspired by her own young  curly haired daughter and written for all curly girls in an effort to ensure they love themselves and their hair exactly as it is.  You can find out more about Atara here.  Listen to other podcast episodes Pension Trends Plus with Atara Twersky here  or wherever you listen to your favorite podcasts!