One of Dubai's main attractions is that it is perceived as a stepping-stone to doing business across the UAE, the wider Gulf region and North Africa, they said. But the expectations of these companies must be managed, they said.
Interest comes from all industry sectors, but some are showing stronger growth than others, such as education, creative and media industries. Dubai Knowledge Village, for example, recently entered into a cooperation arrangement with UK companies on a vocational education project. Further discussions are taking place on exactly how the two parties will work together, but teaching and the setting and benchmarking of examinations are possible areas of cooperation. UK companies are perceived as world leaders in education, especially for distance and virtual learning.
The pattern of British involvement in the UAE corporate world is also changing. In the early years of Dubai's development many companies were involved in the construction sector, but they tend to dominate the downstream industries, such as interior design and furniture.
Winning contracts is becoming increasingly difficult, however, as the market becomes more competitive, so research and connecting with the most appropriate people and companies is becoming more necessary. As if to emphasis the increasing interest of British companies in the region, the number of events arranged by the British embassy to inform companies about doing business in the UAE and connect them with the right people, seems to be rising. The latest initiative is "Britain in the Region Day," an event co-hosted by the British Business Group and Dubai & Northern Emirates. On December 11, senior trade and investment officers from British embassies and trade offices in 12 countries from across the region will be holding a business clinic in Dubai.
At the same time, UK Trade and Investment is working with Business Link Wessex in organising a visit to Dubai for companies from the south west of England. These come from a cross-section of industries, from security and e-learning to business consultancy. This year representatives from the British embassy in Dubai won the UK Trade and Investment for outstanding achievement in the outstanding team category.
But while research and connections are indisputably necessary, a book setting down a unified set of processes and procedures, especially regulatory requirements, would be invaluable, said trade and investment attaché, Mohammed Al Bastaki.
Confirming the strong growth in British business in Dubai are the most recent trade statistics between the UAE and UK published this week. UK imports from Dubai rose 16.8 per cent in the first eight months of the year, compared to the same period last year - from £ 47 billion to nearly £55 billion. UK exports to Dubai rose 141 per cent over the same time, from £180 billion to £ 362 billion. British exports to the Northern Emirates also saw an increase of 9.6 per cent.