Economic Insights – Follow-Up
Tony Sullivan, the administrative partner at EY in the UAE, has highlighted the UAE’s emergence as a global hub for trade and investment. He anticipates one of the fastest growth trajectories in the next five to ten years, driven by vast opportunities for collaboration within both the public and private sectors.
During his address at the “Intensopia 2025” event in Abu Dhabi, Sullivan emphasized EY’s commitment to positioning the UAE and the broader Middle East and North Africa (MENA) region as strategic priorities, influenced by the favorable and supportive investment climate available.
Sullivan noted that EY has been operating in the country since 1966, with the Dubai office recognized as the largest in the region, serving numerous regional leaders and significant clients.
He underscored the critical role of technology and artificial intelligence (AI) across various sectors, asserting that these innovations have become vital for enhancing operational efficiency and ensuring regulatory compliance. Sullivan stated, “Technology and data are integral to contemporary business activities, especially in consulting. We leverage AI to boost tax compliance, enabling our clients to meet their obligations more efficiently. It aids in financial audits and analyzes financial statements for consistency, allowing our teams to concentrate more on strategic advisory roles rather than routine tasks.”
Sullivan further explained that EY’s utilization of these technologies extends beyond internal applications; the firm actively assists its clients in integrating AI into their operations, drawing on its expansive global network and advisory expertise. He emphasized that AI is proving to be a decisive factor in shaping the future of businesses and enhancing their competitive stance.
In addressing the challenges companies face in meeting compliance, he pointed out that the main difficulty lies in identifying suitable partners with the requisite expertise and skills to effectively implement these technologies.
Concerning the trend toward environmental, social, and governance (ESG) criteria, the Middle East is emerging as a leader in this transformation. Sullivan cited Egypt’s hosting of the United Nations Climate Conference (COP26) and the UAE’s staging of COP28 as proof of the regional governments’ commitment to sustainability.
He remarked on the region’s historical reliance on the oil and gas sector, stating that the transition to a sustainable economy is essential. “We are witnessing a growing number of companies adapting their ESG strategies, whether through adopting more socially responsible policies or complying with new regulations. A number of organizations in the region have already positioned themselves as leaders in this area,” Sullivan noted.
Sullivan concluded by highlighting EY’s collaboration with many businesses in the region to develop and implement sustainability strategies, viewing this as a significant opportunity for the Middle East to serve as a global model for a shift toward a more sustainable economy.
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