One Jump Ahead: Is the UAE leading the Gulf pack?

Towards the end of 2021, the late President of the UAE, Sheikh Khalifa bin Zayed approved an extensive list of legal reforms. New laws and updated legislation span the business, labour, family, personal status, crime, intellectual property and e-commerce sectors. Of note is a new law permitting investors and entrepreneurs to completely own onshore companies in all sectors – a significant departure from previous practice that guaranteed the UAE national major shares in any company. On the social front, the move to decriminalise consensual relationships outside of marriage is another novelty. Is the motivation behind these changes the creation of a more attractive business environment? How far ahead is the UAE in socio-economic terms, relative to its neighbours? Following his ascension, the new President, Sheikh Mohamed bin Zayed, has shown no signs of slowing down. From a directive granting children of Emirati mothers the same benefits as other citizens in education and health to a financial package for low-income citizens, he has shown his penchant for supporting domestic constituencies. What is the strategy for harmonising policies among the seven emirates? Crucially, how will the GCC states develop a sustainable plan for Covid-resilience? Are there any social trade-offs for such moves? Besides examining the UAE’s first-mover advantage, this roundtable will also look at intra-GCC economic competition, with Riyadh and Doha snapping at Abu Dhabi’s heels. The Middle East Institute will welcome two experts, Mr Nasser Al Shaikh and Dr Omar Al-Ubaydli, to address these issues and more.