Economists have long debated the effectiveness of laws enacted
to spur economic development. But cities continue to try to create
jobs and wealth, and some like Abu Dhabi seem to be doing something
right.
The capital of the United Arab Emirates in 2015 created a
financial district where it relaxed tax and regulatory requirements
to attract foreign investment. In three years, the Abu Dhabi Global
Market has emerged as a vibrant business community featuring
financial services companies and professional advisers.
Writing laws conducive to growth has secured Abu Dhabi's
place as a global financial center. It's ranked 25th in the
Global Financial Centres Index, just behind better known European
financial hubs Frankfurt, Luxembourg and Paris.
