UAE Business paper
INTERNATIONAL BUSINESS TERM PAPER
By Tanjina Parvin
BUSA 3000-Globalization and Business Practices
Dr. Mourad Dakhli
December 5, 2013
I. Introduction
As stated from Central Intelligence Agency’s research, United Arab Emirates is located in the Middle East, bordering the Gulf of Oman and the Persian Gulf, between Oman and Saudi Arabia. Neighboring countries surrounding United Arab Emirates are Oman, Qatar, Bahrain, Kuwait and Saudi Arabia. The territorial size of the country is 83,600 sq. km- which makes it 115th in the world. The size of the population is 5,473,972 as of July 2013. United Arab Emirates political system is federation with specified powers delegated to the UAE federal government and other powers reserved to member emirates, where the prime minster is the head of the government. The present Prime Minister of United Arab Emirates is Mansur Bin Zayid Al-Nuhayyan. The Prime Minister is elected by the Federal Supreme Council (FSC) for five-year terms (no term limits) from among the seven FSC members. Election last held 3 November 2004 upon the death of the UAE 's Founding Father and first President Zayid bin Sultan Al-Nuhayyan. Political parties are not allowed in United Arab Emirates. The UAE’s form of law is mixed legal system of Islamic law and civil law.
The UAE has an open economy with a high per capita income and a sizable annual trade surplus. Successful efforts at economic diversification have reduced the portion of GDP based on oil and gas output to 25%. Since the discovery of oil in the UAE more than 30 years ago, the country has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living. The government has increased spending on job creation and infrastructure expansion and is opening up utilities to greater private sector involvement. UAE’s GNI per capita PPP is $47,890 in US dollars, and the GNI per capita is
By Tanjina Parvin
BUSA 3000-Globalization and Business Practices
Dr. Mourad Dakhli
December 5, 2013
I. Introduction
As stated from Central Intelligence Agency’s research, United Arab Emirates is located in the Middle East, bordering the Gulf of Oman and the Persian Gulf, between Oman and Saudi Arabia. Neighboring countries surrounding United Arab Emirates are Oman, Qatar, Bahrain, Kuwait and Saudi Arabia. The territorial size of the country is 83,600 sq. km- which makes it 115th in the world. The size of the population is 5,473,972 as of July 2013. United Arab Emirates political system is federation with specified powers delegated to the UAE federal government and other powers reserved to member emirates, where the prime minster is the head of the government. The present Prime Minister of United Arab Emirates is Mansur Bin Zayid Al-Nuhayyan. The Prime Minister is elected by the Federal Supreme Council (FSC) for five-year terms (no term limits) from among the seven FSC members. Election last held 3 November 2004 upon the death of the UAE 's Founding Father and first President Zayid bin Sultan Al-Nuhayyan. Political parties are not allowed in United Arab Emirates. The UAE’s form of law is mixed legal system of Islamic law and civil law.
The UAE has an open economy with a high per capita income and a sizable annual trade surplus. Successful efforts at economic diversification have reduced the portion of GDP based on oil and gas output to 25%. Since the discovery of oil in the UAE more than 30 years ago, the country has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living. The government has increased spending on job creation and infrastructure expansion and is opening up utilities to greater private sector involvement. UAE’s GNI per capita PPP is $47,890 in US dollars, and the GNI per capita is
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