The UAE has emerged as a global hub for trade and investment and is anticipated to be one of Ernst & Young’s (EY) fastest-growing markets worldwide over the next five to ten years. This growth is fueled by substantial opportunities for collaboration with both public and private sectors, as noted by Anthony O’Sullivan, managing partner of EY in the UAE.
In a conversation with the Emirates News Agency (WAM) during Investopia 2025 in Abu Dhabi, Sullivan underscored that EY’s global leadership views the UAE, along with the Middle East and North Africa region, as strategic priorities. This perspective is largely due to the attractive investment climate and supportive economic growth policies present in the region.
EY’s longstanding presence in the UAE
Sullivan pointed out that EY has been operational in the UAE since 1966, with its Dubai office being the largest in the region, accommodating several regional leaders and key clients.
Sullivan emphasized the crucial role of technology and artificial intelligence (AI) across various sectors, asserting that these technologies are vital in enhancing operational efficiency and improving financial compliance.
“Technology and data are now integral to any business, particularly in consulting,” he stated, adding, “We utilise AI to enhance tax compliance, helping clients meet regulatory requirements more efficiently. AI also plays a role in financial auditing, enabling better financial data analysis and consistency, allowing teams to focus on advisory services rather than routine tasks.”
He elaborated that EY not only integrates these technologies internally but also aids clients in embracing AI-driven solutions, utilizing its extensive global network and consultancy expertise. He highlighted that AI has become a significant factor in shaping the future of businesses and bolstering their competitiveness.
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Challenges in compliance for businesses
When discussing the challenges that businesses encounter in compliance, Sullivan noted that the primary issue is identifying the right partner who possesses the expertise and skills necessary to implement these technologies successfully.
On the increasing adoption of Environmental, Social, and Governance (ESG) standards, he remarked that the Middle East is leading this transformation. He referenced Egypt’s hosting of COP27 and the UAE’s hosting of COP28 as indicators of the region’s strong commitment to sustainability.
Transitioning to a sustainable economy
Sullivan stressed that, given the region’s historical dependence on the oil and gas sector, transitioning to a sustainable economy is crucial. “We are witnessing a growing number of companies in the region developing their ESG strategies, whether by adopting more socially responsible policies or complying with new regulations. Many of these companies are emerging as global leaders in this field,” he added.
He further mentioned that EY is collaborating closely with numerous companies to help them design and implement sustainability strategies, characterizing this as a significant opportunity for the Middle East to establish itself as a global leader in the shift towards a more sustainable economy.
