Dubai Crown Prince and Chairman of The Executive Council of Dubai His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has issued directions to reduce government procedures for doing business by 30 percent.
The move is part of efforts to lower the cost of doing business and further stimulate economic growth in the emirate as part of the vision of Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum.
The directives will be enforced within the following three months, according to the statement. Further, the decision is in line with the strategic efforts aimed at accelerating the economy and enhancing Dubai’s status as a commercial hub.
“Dubai will continue to help the business sector overcome any impact from the current situation and unlock new growth opportunities, in addition to launching new initiatives that can accelerate recovery. 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. 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.”
Furthermore, this step supports His Highness Sheikh Mohammed bin Rashid Al Maktoum’s latest initiative ‘Invest in Dubai’ platform, which allows investors to get trade licenses and start their businesses in only a few minutes. The centralized portal provides commercial licensing services, which include obtaining government permits and approvals without having to visit a service center.