We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Free Trade Zones in UAE and Economic Development - Research Paper Example

Comments (0)
Running head: Free Trade Zones in UAE & economic development Name Name of instructor Date Free Trade Zones in UAE & economic development A free Trade zone is an area, mostly on airports, seaports or major borders of countries, where goods can be brought in; their form and make up altered to produce other goods, then exported to other countries without the customs authorities of the host countries charging taxes on the goods or be involved in any way…
Download full paper
Free Trade Zones in UAE and Economic Development
Read TextPreview

Extract of sample
Free Trade Zones in UAE and Economic Development

Download file to see previous pages... These areas are very advantageous to traders and manufacturers in various industries, since there are fewer barriers to trade in these zones than in areas that are not free trade zones. The first Free Trade Zone was established in a small rural town in Ireland to reduce the rate of unemployment in the town, to utilize the airport that was mostly being underutilized in the town, as well as to generate revenue for the Irish government (Brzuzy and Lind, 2007). This was in the early 20th century, and since then due to its colossal success, many more FTZ’s have cropped up throughout the world, mostly in developing countries. One of the main aims of establishing FTZ’s was to create employment opportunities, especially for locals in the area around the FTZ’s and also to generate income for governments. Toward this end, the employment rules governing the FTZ’s are a little different from those governing those companies that do not fall under FTZ. Firstly, corporations operating in the FTZ’s usually discourage their employees from joining or forming trade unions. Workers who try to do so are usually threatened with dismissals or closure of the companies, hence loss of livelihoods (Perman et al., 2004). FTZ’s are also usually exempt from most countries’ employment laws, mostly using the laws set out by the International Labor Organization, ILO. Most FTZ’s also emphasize that a majority of the workers in the zones be citizens of the host country. However, exceptions are made if there is not enough local labor to be employed by industries in the zone or if there is a need to import people with certain skills that are required by the companies. Furthermore, most corporations in the FTZ’s employ workers on short contract basis of between one and at most 5 years. However, most countries’ legislations require that these companies provide benefits such as medical schemes to their workers despite their contract status. One of the most vibrant FTZ’s in the world is the Dubai Media City free zone. As the name suggests, this FTZ is located in the city of Dubai, in the United Arab Emirates in the Middle East. The zone was established in 2001 and is located a few miles from the Dubai International Airport, which serves as the main infrastructure for the traders that visit the zone (BBC News, 2009). As the name suggests, Dubai Media City is a free zone established wit the media as its main trade. In the zone, there are several media hoses, both local and international which carry on their business. The main media activities in the zone include Music, Public Relations, Broadcasting, Publishing, Advertising, Marketing Consultancy, News Agency, Production and Post-production, Research among other media-related activities. Located in over 30,000 square meters of land, the DMC has enviable infrastructure unrivalled in many areas trying to reach its status. Several advantages have been experienced by the UAE because of the DMC. The first and most obvious is the increase in revenue from the zone; the DMC contributes a substantial amount to the country’s economy. The DMC has promoted the development of infrastructure in Dubai. There has been an influx of media houses from all over ...Download file to see next pagesRead More
Comments (0)
Click to create a comment or rate a document
Justice System in the UAE
” (Latheef par 1) the profitable center of the Middle East. Every constituent state of Emirates, except for Ras Al Kaimah and Dubai, are part of a federal judicial system and both of them have self-governing judicial systems. In each Emirate, the court system includes the “Court of Appeal, Court of First Instance and Court of Cassation?
20 Pages(5000 words)Research Paper
How Free Trade Causes Development
According to the paper the criticisms leveled against free trade as it exists today is its affect on workers and consumers. Some believe that under this system, workers become helpless pawns of their capitalist masters, compelled to sell their labor power at sub-optimal costs. The only theoretical alternative they have to evading this exploitation is to become destitute, which is a far greater misery.
9 Pages(2250 words)Research Paper
Free Trade and Industrial Zones in the UAE
Because of this, nearly all countries in the region have economies that solely or primarily rely on the production of crude oil. However, the UAE has distinguished itself from the rest because of its willingness to venture into economic programs that are not based on oil production.
6 Pages(1500 words)Research Paper
Free Trade Zones in UAE and Economic Development
Duties, tariffs, quotas, excises, subsidies, customs and other such concepts do not exist there and foreign investors have great deal of freedom to start up their business in these areas, often accompanied by tax breaks, less paperwork and few restrictions (Noack, 2007).
7 Pages(1750 words)Research Paper
Free Trade Zones in UAE and Economic Development
Free trade zones were originally created targeting foreign investors so as to promote foreign trade. They are areas where certain special laws do apply with respect to income repatriation, taxation, ownership, recruitment of labor, and value addition. Over the years, free trade zones have become the preferred areas by foreign investors since they offer a cost effective combination of factors of production (Dubai Media City, 2009).
7 Pages(1750 words)Research Paper
UAE Free Trade Zones
It is projected that there are currently well over 1000 Free Zones in use, in about 120 nations (UAE Government, 2008). The rationale for this noteworthy enlargement is that Free Trade Zones have been an unusual system for nurturing industrialization that is export-led worldwide.
7 Pages(1750 words)Research Paper
Understanding Economic Diversification in the UAE
The paper will also focus on the concept of the economic diversification by identifying ways through which diversity contributes to the economy. Growth of the oil and non-oil sector for a period of ten years will be discussed, in way that facilitates understanding of contribution made by these sectors to the economy of UAE.
7 Pages(1750 words)Research Paper
UAE Culture and Society
The culture and social life of the people of United Arab Emirates can be broadly classified into two distinct phases: the first phase is the pre-oil economy era in the years before 1960 when oil was not discovered. Since economy has
10 Pages(2500 words)Research Paper
Economics of the UAE
The imperative natural resources of the UAE are gas and oil that are located mostly in the capital of the nation i.e. Abu Dhabi. Though a significant portion of land area of the
12 Pages(3000 words)Research Paper
Economics of the UAE
Prior to the discovery of oil, 70% of UAE’s populace was involved in pearl collection and fishing, with the rest, or 30% involved in agriculture, handicrafts and construction of wooden boats (Elhiraika and Hamed 2-3). The
14 Pages(3500 words)Research Paper
Let us find you another Research Paper on topic Free Trade Zones in UAE and Economic Development for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us