It has lately seen increased competition from Saudi Arabia, which has been pushing foreign firms and startups to invest there and set up regional headquarters in Riyadh. "When it comes to entrepreneurship specifically it's always about competition," Falasi told Reuters when asked about competition with Saudi Arabia. "Every country is different, Saudi Arabia is a different market than UAE. Entrepreneurs view the UAE as a platform for growth into the region. "The UAE has an advantage in attracting foreign capital because its population is overwhelmingly foreign workers, he said.

Source: Economic Times November 11, 2021 04:16 UTC