Browsing: economic diversification

UAE’s tax authorities have noted a rise in VAT refund requests from tourists in the first half of 2024. The Federal Tax Authority (FTA) reported that the number of transactions processed through the digital VAT refund system for tourists surged to 2.7M in H1 2024, up from 2.55M in H1 2023.

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, confirmed that the UAE has made foreign trade a central element of its economic strategy, recognising its crucial role in boosting industrial production, enhancing global competitiveness of its products and services, and spurring innovation.

Saudi Non-Oil Exports Surge Amid Vision 2030 Initiatives Saudi Arabia’s non-oil exports surged by 10.5…

UAE’s economy is experiencing significant growth, particularly in non-oil sectors such as real estate, tourism, and manufacturing, according to the Organisation of the Petroleum Exporting Countries (OPEC).

NMDC Energy, a subsidiary of NMDC Group, has been officially acknowledged and certified as an Industry 4.0 Digital Leader by the Ministry of Industry and Advanced Technology (MoIAT). This accolade recognises NMDC Energy as a frontrunner in the Fourth Industrial Revolution, utilising cutting-edge technologies to boost operational efficiency, foster sustainable growth, and enhance competitiveness within the UAE’s industrial sector.

National ICV Programme of the Ministry of Industry and Advanced Technology (MoIAT), part of the UAE’s Projects of the 50, achieved a milestone in H1 2024 with an expanded scope.

The Kingdom of Saudi Arabia’s non-oil sector demonstrated robust growth in the second quarter of…

Abu Dhabi Business Centre at the Abu Dhabi Department of Economic Development (ADDED) has introduced 12 new economic activities to the Tajer Abu Dhabi (Abu Dhabi Trader) licence. This allows investors to secure an economic licence without needing a physical location or paying commercial rent for three years.

More than 120 international companies moved their regional headquarters to Riyadh in just the first quarter of 2024, according to a recent report.

Abu Dhabi saw the non-oil sector reach record levels, with a AED 154.7B ($42.1B) contribution to GDP, according to official figures.