The United Arab Emirates (UAE) has emerged as a premier destination for global entrepreneurs. The UAE’s transformation into a hub for global business can be attributed to several key factors, including strategic location, government support, and a pro-business environment.
Ennogen Healthcare, a UK-based pharmaceutical company, is among the many international companies that have expanded their operations to the UAE. In a recent interview, Jason Tate, Chief Financial Officer of Ennogen Healthcare, shared his insights on why the UAE was chosen as their base for expansion and how their journey has been facilitated by Kreston Menon.
The strategic appeal of the UAE
Tate outlined the strategic appeal of the UAE, highlighting three primary reasons for their decision to expand into the region. First and foremost, the UAE’s geographic location offers unparalleled access to key markets. Positioned as a gateway between Asia, Europe, and the wider Middle East, the UAE allows companies like Ennogen Healthcare to efficiently reach a broad spectrum of markets while maintaining proximity to their European base.
“The proximity of the UAE to other regions around the world, including Asia and the subcontinent, while remaining close to Europe, was a critical factor for us,” Tate explained. This accessibility has made the UAE a preferred destination for companies seeking to expand their global footprint.
Another crucial factor is the UAE’s talent pool, which is enriched by a diverse, multicultural workforce attracted by the country’s high quality of life. “The talent pool that’s available here is attracted by the lifestyle and the agglomeration of skills from around the world,” said Tate. The ability to draw skilled professionals from various global markets has been instrumental in Ennogen Healthcare’s success in the UAE, as the company operates in a highly regulated industry that requires top-tier expertise.
Lastly, the pro-business environment fostered by the UAE government has been a significant enabler. The UAE’s regulatory framework is designed to be business friendly, reducing the bureaucratic barriers that often hinder international expansion. Tate noted, “The pro-business environment, which the government leads, helps us to drive forward our success.” This environment, coupled with the UAE’s continuous efforts to streamline business operations, has made it an attractive destination for companies looking to establish a presence in the region.
A trusted partner
The role of professional services firms like Kreston Menon in supporting international businesses cannot be overstated. When Ennogen Healthcare began considering its expansion into the UAE, the company evaluated several firms, including the Big Four, before deciding that Kreston Menon was the best fit for their needs. “Kreston Menon was introduced to me by a fellow professional, and we assessed their capability in the UAE compared to other firms,” Tate recalled. “We considered that Kreston Menon was best placed in the UAE to give appropriate local advice for the region, which is important in the process of setting up and also expanding.”
Kreston Menon’s local expertise and understanding of the UAE’s regulatory landscape proved invaluable as Ennogen Healthcare navigated the administrative complexities of establishing operations in the country. The firm provided tailored advice and support, ensuring a smooth transition for Ennogen Healthcare as they set up their UAE base.
Advice for new businesses
As the UAE continues to attract a growing number of international businesses, Tate offered some advice for those considering expansion into the region. He emphasised the importance of understanding the local market and leveraging the UAE’s business culture. “The UAE provides a very dynamic environment for interpreneurs, attracting talent and facilitating the sharing of knowledge,” Tate observed.
He also highlighted the importance of being strategic in selecting a location within the UAE that aligns with the company’s business objectives. Proximity to key markets, access to talent, and ease of doing business should all be considered when making this decision.
“We’re beginning to identify new opportunities that we didn’t anticipate before we came here. As a consequence, I’ll be moving larger parts of the business into the UAE in the coming months.
Jason Tate
Chief Financial Officer – Ennogen Healthcare
Bright future
Reflecting on Ennogen Healthcare’s journey, Tate rated their success in the UAE as 9 out of 10, acknowledging that while they have achieved significant milestones, there is still potential for further growth. “We’ve arrived here, set up the business, and begun to achieve some of our early goals,” Tate said “But we’re also beginning to identify new opportunities that we didn’t anticipate before we came here. As a consequence, I’ll be moving larger parts of the business into the UAE in the coming months ”
This positive outlook is indicative of the broader trend among interpreneurs in the UAE. The country’s ongoing efforts to enhance its business ecosystem and its commitment to creating a competitive and investor-friendly environment have positioned it as a global leader in attracting foreign investment.
As more international entrepreneurs discover the opportunities that the UAE has to offer, the country is poised to continue its ascent as a top destination for global business. With firms like Kreston Menon offering essential support, and the UAE government’s unwavering commitment to fostering a pro-business climate, the future looks bright for interpreneurs aiming to make their mark in the UAE.