Mehrabi Helya has made a study in order to find out if Dubai can be a potential market for Swedbank. The study was conducted by comparing the start-up process in China.
It was concluded that Dubai has a great potential for the banking industry at an establishment in which it may be possible to be part of a free zone, and thus have full ownership control.
This can be viewed as very positive from a comparison of Swedbank's establishment in Shanghai where they had to follow all laws carefully. The laws are not as strict for an establishment in Dubai and can therefore facilitate the establishment of any enterprise.
The culture is different in China and Dubai but ultimately the same conditions applies, which is to create good long-term relationships between people.
Since many Nordic companies choose to establish in Dubai, there is a need for a Scandinavian bank with Scandinavian expertise in combination with Emirate skills on the market.
Cecilia Helland