Tuesday, September 13, 2005

Business-friendly UAE

According to the wondrous periodical that is the Gulf News, ' UAE business procedures [are] 'highly streamlined'

It takes six documents, three signatures and 18 days in the UAE to move imported goods from ports to warehouse, which according to the latest World Bank report makes the country one of the most competitive in the Middle East

Ha!

With a company start-up capital requirement that favours the rich - 416.9% of per cap. income (as opposed to 28.9% of per cap income in the OECD); with a credit information index of 2 out of 10; with a shareholder protection index of 4.7 out of 10; an average delay of 614 days to enforce contracts (232 in the OECD); and an average recovery rate of 5.5 cents on the dollar from bankrupts – yeah, it's incredibly 'streamlined'.Particularly if you're rich, you plan on going bankrupt and have no intention of paying your creditors. BCCI anyone?

See for yourself.

1 Comments:

Blogger secretdubai said...

Your latest post on emirati's blog is excellent. I'm not commenting there any more in that entry (no point) but I just wanted to let you know.

21/9/05 10:21  

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