Dubai has announced a notable 61 percent reduction of government procedures for doing business, and a 95 percent reduction of licensing requirements through the Invest in Dubai platform to create promising opportunities for investors by the first quarter of next year.
H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, stated that Dubai will continue to create the conditions needed to sustain its position as a preferred global investment destination, backed by the flexibility and effectiveness of its government procedures and the numerous advantages it offers investors.
The reduction in business procedures is in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to enhance the emirate’s economic attractiveness. Nearly 11,000 requirements have been eliminated to enhance the ease of doing business in Dubai.
Sheikh Hamdan praised the efforts of the 37 participating government entities, which contributed to significantly reducing the effort, time and cost incurred by investors, in addition to offering them high-growth investment opportunities. He also highlighted the ability of Dubai government teams to provide services that further enhance Dubai’s profile as an investment hub.
“Today, the government of Dubai has exceeded the targets it set to ensure that the emirate continues to offer an attractive and competitive investment environment for entrepreneurs and investors worldwide. We will continue to build on HH Sheikh Mohammed bin Rashid’s vision to raise the emirate’s role as a key player in the global investment landscape. Dubai places a high priority on the empowerment and involvement of the private sector and the consolidation of its economic system as part of the objective of creating attractive opportunities for investors.”
The Invest in Dubai platform, which was launched in February, has helped to improve Dubai’s investment environment by reducing 95 percent of the emirate’s licensing requirements for doing business.
The platform strives to ease business procedures by providing a unified digital platform that allows investors to secure commercial licenses and start their business within minutes, saving time and effort. It highlights the Dubai government’s goal to continuously support investors and raise their confidence in Dubai as the region’s preferred business destination.