As part of the Open Business project, Maksim Zagornov, Business Ambassador of Business Russia to the UAE, gives a lecture

On November 15, Business Ambassador of Business Russia to the UAE Maksim Zagornov delivered a lecture to students and young entrepreneurs. The meeting took place at the State University of Management within the framework of the Open Business project organized by Business Russia with the support of the Ministry of Science and Higher Education of the Russian Federation.

Maksim Zagornov, Business Ambassador of Business Russia to the UAE, talked about the history and national specifics of the United Arab Emirates, as well as about the changes that had taken place in the country's economic policy for the purposes of facilitating business and attracting foreign investors. 

The expert noted that today the UAE economy is considered one of the most open, and the share of oil and gas in its GDP amounts to less than 28% - this is the best indicator among the Gulf countries. Small and medium-sized businesses have become the main driver of the UAE economy.

Maksim Zagornov stated that today the Emirates had become a center of attraction for Russian business. The number of Russian companies registered in the UAE has now reached 4,500. The expert named the most promising niches (IT, food sector, energy) and gave recommendations to aspiring entrepreneurs:

"Do not rush to open a company in the UAE. It is better to find a local partner who has been working on the market for a long time and will be able to sell your products for a certain percentage. This is how most companies are moving forward today — by finding reliable dealers locally. I believe it is the most effective option," the speaker stressed.

At the end of the lecture, Maksim Zagornov urged young entrepreneurs not to miss their chance:

"The world faces gripping events. There come lots of prospects. Foreign companies have left the Russian market. In fact, it has cleared out. Logistics chains are being rebuilt on the international market; new ties are being established. Many opportunities have opened up for small and medium-sized businesses. We need to be able to grab this chance," Business Ambassador addressed the young listeners.

Note that the Open Business project is organized by Business Russia with the support of the Ministry of Science and Higher Education of the Russian Federation. Its main task is to popularize youth entrepreneurship and promote the education of young people in the business sphere.

A recording of the lecture is available on the Business Russia YouTube channel