Title: Difference between Saudi Arabia and UAE | Difference Between
Headings: Difference between Saudi Arabia and UAE
Difference between Saudi Arabia and UAE
Saudi Arabia
United Arab Emirates
Saudi Arabia vs UAE: women’s rights
Summary
Giulia Squadrin
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Content: In 2017, UAE closed an agreement with Somaliland for the creation of a military base in the area. As most Arab countries, United Arab Emirates has an oil-based economy. However, attempts to diversify the economic system have reduced to only 30% the portion of GDP accounted for by oil and gas. UAE’s strength lies in its “free trade zones” where foreign (and local) investors pay zero taxes. Trying to minimize the challenges posed by the economic crisis and low oil prices, UAE is diversifying the economy by: Fostering infrastructure expansion; Encouraging privatization; Creating favorable conditions for foreign investors; Introducing Value Added Taxes (tentatively by January 2018); Promoting tourism;