The United Arab Emirates is fast becoming a top destination in the Middle East for investors and entrepreneurs. Led by Mohamed bin Zayed, the Crown Prince of the United Arab Emirates, the nation has begun to attract more investment from foreign sources.
One of the best examples of this can be seen through the Uber-Careem deal recently. Careem is a Dubai based startup which provides ride-hailing services. By acquiring it, Uber aims to build a strong base in the Middle East for its own ride-hailing service.
In 1999, many people questioned our idea to establish Dubai Internet City in the desert. Two years ago, Amazon acquired the multi-billion dirham https://t.co/8r1e7dmLtG and today, Uber acquired Careem for Dh11 billion. These giant companies flourished from the “desert” of Dubai. pic.twitter.com/h9gkOXK8n9
— HH Sheikh Mohammed (@HHShkMohd) March 26, 2019
Interestingly, this is the second such acquisition to take place. Previously, Amazon had purchased another startup based in the United Arab Emirates called Souq. These fantastic and popular startups demonstrate the efforts of the UAE to become a tech hub of the region.
As such, the UAE is an excellent choice for those looking to invest in robust opportunities. It provides an amazing atmosphere for entrepreneurs to develop their next big idea.