Amid increased regional competition, the UAE is banking on pro-employee labour reforms to maintain its position as the dominant business hub in the Middle East.
In an attempt to lure foreign investment away from the UAE, and thereby reduce its own economic dependence on oil, Saudi Arabia announced in February that multinationals across a range of industries had until the end of 2023 to set up their regional headquarters in Riyadh or risk losing out on lucrative government contracts.
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