In the following interview Pierpaolo Maurizi, project manager for BDB UAE, reveals some important information about the United Arab Emirates market:
What advice would you give to a company interested in developing its business in the Emirates?
The Emirates are currently a leading country in an international context, a promotional showcase of first importance, a location with a strategic position between the West and Asia.
It’s not a market of huge volumes, but it is very important to be present and active in it.
My suggestion is to present yourself with an innovative product or service, and with the idea of wanting to invest before collecting these are two very important requirements to present yourself in a very coveted and competitive Market.
Which are the most interesting sectors for companies that want to develop their business in the Emirates?
Many sectors are interesting, such as the Tech sector, in a country that today is among the most advanced. Other attractive sectors are also: food, fashion, automotive, interior and construction.
In your experience, what are the main causes of bankruptcy in the start-up process of a company? Is there a winning recipe for a successful business?
My advice is to invest properly in marketing and H&R and be quick to give answers and adapt to what are the demands of the local market.
What are the main difficulties faced by companies in the UAE market? How can BDB solve these problems?
In my experience, I met many companies that wanted to reap without investing, and in a short time. If that’s the idea, better not to start.
It’s necessary to make companies understand that they must invest and aim at a return of medium/long term, creating a structured project and using human resources level. And this is where BDB Network comes into play which is able, thanks to its solid structure present all over the world, to support companies in all phases of the project, step by step, in order to avoid risks and errors due to lack of knowledge of the UAE market.
How much does the lack of knowledge of the product affect the export potential? And how much does it matter to know the target market, culture and customs?
Without the appropriate knowledge of the product and the reference market, every effort is in vain.
Pierpaolo Maurizi, BDB UAE.