Dubai has added further incentive for companies looking to operate in the emirate by reducing government procedures for doing business by 30 percent.
The move was announced by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, and is aimed at consolidating the emirate’s status as a global investment and business destination.
The directives will be implemented within the next three months.
Sheikh Hamdan said Dubai will continue to help the business sector overcome any impact from the current coronavirus crisis and unlock new growth opportunities, in addition to launching new initiatives that can accelerate recovery.
“Under the guidance of Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, we have made significant progress in strengthening Dubai’s economic recovery. Normal life has resumed and the increased stability of businesses will help raise the sustainability of Dubai’s economy. We are determined to further support businesses and deepen the confidence of investors as part of ensuring a win-win partnership,” he said.
Highlighting the strong partnership between the public and private sector, Sheikh Hamdan added: “Government flexibility and efficiency are key to attracting businesses and enhancing the investment environment. The streamlined procedures followed by Dubai Government have further reinforced its position as a leader in ease of business as well as an entrepreneurial hub and an incubator for promising business ventures.
.@HamdanMohammed: Under the guidance of Vice President and Prime Minister of the #UAE and Ruler of #Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, we have made significant progress in strengthening Dubai’s economic recovery. pic.twitter.com/GjaVhDNfiU
— Dubai Media Office (@DXBMediaOffice) June 9, 2021
“We will continue to work on unlocking new opportunities for businesses and investors to help them grow. Promoting partnerships with the private sector is a key strategic objective for Dubai. As a key stakeholder in Dubai’s development, the private sector is a critical partner for government projects. Our efforts will ensure that Dubai continues to be the leading investment destination in the region.”
The move to reduce government procedures for doing business by 30 percent complements the ‘Invest in Dubai’ platform launched last February by Sheikh Mohammed bin Rashid Al Maktoum to enable investors to obtain trade licences and launch their business in only a few minutes.
Dubai’s wide-ranging support measures since the onset of the pandemic, particularly its five stimulus packages worth AED7.1 billion ($1.9bn), helped the private sector ease financial pressures and reduce operating costs and ensured the impact of the pandemic did not result into long-term challenges.
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