The Chinese President Xi Jinping’s recent visit to UAE is set to make gradual, yet large economic change in UAE. Both countries spoke about boosting different industries and have made 13 strategic agreements. These agreements include construction of embassies and cultural centers, advancing energy cooperation, e-commerce ties, numerous investments, and the infamous Belt and Road Initiative all of which the UAE government strongly supports, and would bring an inflow of income into the UAE.
These talks and numerous agreements are likely to boost certain business sectors in UAE, especially Trade, Construction and, Energy. While these are the more common and thriving industries in UAE, especially Dubai, the bilateral talks with China are also expanding younger and smaller industries including Agriculture and Wholesale markets. This is beneficial to the UAE economy as it makes the stronger sectors of the country stronger while making the younger industries more mature. In addition to this, China has also agreed to work with UAE on the largest solar energy project in the world, harboring the abundance of sunlight in UAE to make it the energy hub of the world for non-renewable and renewable energy.
These changes along with the recent numerous ease in business regulations all work very well together in supporting new and upcoming business in numerous industries.