The Dubai Stock Exchange: An Interesting Combination
Neither Singapore nor Dubai has a large home market to support local industry, but both have worked around this drawback by liberal regimes for business, heavy and sustained investments in technology and infrastructure, and sanguine business promotion by their respective governments which would put many corporations in the shade! Both countries maintain high and favorable profiles in all important events of the global business world.
Trade between Singapore and Dubai has skyrocketed in the recent past to well over $5 billion: it is slated to become a powerful force in driving stock market fortunes in both countries. The UAE-Asia Investment Forum has taken a lead in fostering business links between Dubai and Singapore. There are quite a few territories between the two countries which do not have fully developed stock market cultures, and there are many resultant business development opportunities which can benefit both countries.
Dubai has significant investments in the Singapore stock market scene. Energy is one of the top sectors of interest to the Arab nation. Singapore also has a substantial Muslim population, though this is not a direct business consideration. Another strong bond between Singapore and Dubai are their shared abilities to attract investments and visitors from mature markets of the West. There is some competition between the two countries in terms of serving as occidental bases for large U.S. and European companies. This aspect could prove to be a stumbling block as both countries continuously upgrade their international business amenities.