Plans to provide incentives to the private sector in sectors including aviation and 3D printing
Dubai South has announced the launch of a number ofinitiatives that aim to attract investment and provide incentives to the private sector in sectors including aviation and 3D printing.
The initiatives follows directives of Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to stimulate economic growth and reduce the cost of doing business, state news agency WAM reported on Tuesday.
Dubai South revealed that its first initiative is to form a centre for private aircraft registration. It will work with the General Civil Aviation Authority to simplify both private aircraft registration and the transfer of ownership of private aircraft.
It will also exempt private planes from landing permit fees and will ease the entry procedures for private plane passengers, which will help promote Dubai as a world-class centre for the private aircraft sector, WAM added.
Dubai South has also announced initiatives to reduce registration fees for companies that specialise in the manufacture and maintenance of airplane parts, in addition to building a regional manufacturing and maintenance centre.
It will also reduce registration fees for companies that specialise in manufacturing using 3D printing and will build special facilities for this industry, which helps to implement the emirate’s strategy of promoting its status as a global leader in 3D printing by 2030.
Dubai South also indicated that it will develop an integrated area for the e-commerce and logistics sectors, which will help promote Dubai’s position as a global e-commerce hub in light of the expectations that the e-commerce market will be valued at $20 billion in the GCC by 2020.
Its initiatives included cutting costs for companies and launching plans such as the ability to acquire combined licences issued by the Department of Economic Development and the Dubai South Free Zone, which contributes to decreasing the cost of these licences for companies by 50 percent.
Under the new initiatives, Dubai South companies will be able to scale down their business and move from offices to business centres or from warehouses to office facilities at different sizes and at competitive prices.
Sheikh Ahmed bin Saeed Al Maktoum, chairman of Dubai Civil Aviation Authority and chief executive of Emirates Group, said that the aviation sector is considered one of the leading sectors in Dubai’s economy and that Dubai South has launched these initiatives in order to attract investments from this sector.