Our sit down with Bhupender Nath, CEO and Owner of Passion F&B, on ease of doing business in UAE amidst looming oil price slump and its impacts.
What brought you to Dubai — work or personal reasons?
Business brought me to Dubai, in 1997. When I was working in Africa, I came to Dubai for business and I really liked the city and in 2008, I finally moved with my wife and children.
How difficult or easy was it to choose Dubai to start a business?
Very easy. I have done business in Africa and [around] the world, but there is no better place to run a business than in Dubai. Here rules are in place and everything is very systematic. Everything is very organized which makes it simpler for an entrepreneur to work. It’s all courtesy [to] the rulers of UAE and the ruler of Dubai for making things so easy for an investor, especially an expat investor.
When did you start your business here and what was the procedure back then?
I started my trading business in Dubai in 1997. It was good but not as simple as it is now; now technology is in place and you there are one stop solutions for all your business needs.
What would you considered as operational hazards?
Pay scales are much higher in Dubai. Overall cost of operations are high as compared to other countries.
Would you be able to compare Dubai with any other country in terms of doing business?
No. Because doing business is comparatively easier in Dubai as compared to Europe and America, as there are no taxes in Dubai.
There are talks about Dubai getting affected by the downturn and the oil prices. What does it mean for businesses?
There will be a small slump, but we have seen 2008 and faced it. And Dubai is always well planned for this, and we believe, by the end of the year it should go away.
What advise would you give to companies looking at foraying into Dubai?
Please come and invest here, it is a cosmopolitan city. It is easier to open a company, you are connected via port, which is excellent for any business to flourish. Real modern seaport is in Dubai Facilities are good, housing is very nice. Security is Z class and life is very convenient and rules are in place. Everyone is protected by the law.
What is your personal forecast for the Dubai markets?
It’s a fast growing market. Modern country. F&B industry, construction company, will do well. It’s a trading hub. Property investments are very good.