Magenta Fzc United Arab Emirates Tenders

Magenta Fzc UAE tenders and business opportunities. Access latest Magenta Fzc bids, market research and procurement analysis. Global tenders publishes domestic and international tenders, projects and contract awards for Magenta Fzc and more than 300 tendering authorities from UAE.

The economy of the United Arab Emirates is the 5th largest in the Middle East with a gross domestic product of US$421 billion in 2020. The UAE economy is heavily reliant on revenues from petroleum and natural gas, especially in Abu Dhabi. In 2009, more than 85% of the UAE's economy was based on oil exports. In 2011, oil exports accounted for 77% of the UAE's state budget. In recent years, there has been some economic diversification, particularly in Dubai. Tourism is one of the bigger non-oil sources of revenue in the UAE. A massive construction boom, an expanding manufacturing base, and a thriving services sector are helping the UAE diversify its economy. Nationwide, there is currently $350 billion worth of active construction projects. The UAE is a member of the World Trade Organization and OPEC.

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