New Entrants into Abu Dhabi on Hold Due to Government Caution
Posted on November 5, 2009 at 1:11 AM
International firms planning on opening offices in Abu Dhabi may have to reconsider with the UAE pondering a moratorium on further office launches.Many firms have already entered Abu Dhabi in the past year, while a number of others are considering entering due to the attractive infrastructure and energy opportunities.
However, the government is looking to avoid a repeat of the situation in Dubai, where the many offices launched between 2006 and 2008 had to fire numerous people after the local market declined.
A government source commented: “The government wants to avoid people becoming unemployed in the future - it would be a precautionary method.”
However, some argue that the existing regulations already control the market efficiently.