Social Technology – Industry Analysis in Uae
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fhical Industry Analysis in UAE
PESTEL Analysis
Political
The UAE enjoys very stable political systems, regulatory quality, control of corruption, and rule of law, also, a relaxed position within its neighbor countries.
Government political decisions will affect the industry in many aspects, whether directly or indirectly. The effect that petrochemical industry has on climate change made the UAE government to take actions and policies to reduce the amount of greenhouse emission (Such as reducing the Co2 emissions) they produce and also to provide new energy option (renewable energy source). (isc.hbs.edu)
His Highness Sheikh Khalifa, the President of the United Arab Emirates has officially launched Shams 1 in March 2013, the largest concentrated solar power plant in the world, which is located in the Western Region of Abu Dhabi, the 100-megawatt. This plant will generate clean energy to power 20,000 homes in the UAE. (masdar.ae)
Economy
Under the guidance of His Highness Sheikh Khalifa and His Highness Sheikh Mohamed, the Government of Abu Dhabi has launched The Abu Dhabi Economic Vision 2030. The document is a comprehensive plan to diversify the Emirates economy by decreasing the reliance of oil and increasing the non-oil sector contribution to the Emirates Gross Domestic Product (GDP) by the year 2030. (abudhabi.ae)
The UAE economy benefit greatly on high oil price which bring stable growth and strengthen the businesses. The UAEs gross domestic product (GDP) growth reached 4.5 per cent by the end of 2012 which have surpassed 2012 estimates of 4.1 percent. (wam.ae)
Moreover, the government of the United Arab Emirates does not demand corporate or incomes taxes, but it uses a policy to attract foreign investors although there is a limited ownership of foreigners businesses, and so, to stimulate the trade and investments, the UAE has free trade zones. (isc.hbs.edu)
Social Technology
Technologies are essential to oil and gas industry. Environment testing and analysis require special modern, well-developed, innovative technologies, also to help in overcoming challenges in extracting oil and gas from difficult sources and deep water. Creating new ways to cut production cost and improving performance will be achieved by the implementation of new technologies. Much effort is put into this industry to develop new technologies to help in the producing and locating of oil and gas, has let to technical advances which have been implemented everywhere. ADNOC has implemented controls and measurement systems for its sophisticated drilling techniques to reduce the downtime of maintenance cycles. (thenational.ae)
Environment
Due to the nature of the petrochemicals