DUBAI 10 June 2021: H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, has issued directives to reduce government procedures for doing business by 30 percent.
The move is part of efforts to reduce the cost of doing business and further boost economic growth in the emirate. The directives will be implemented within the next three months.
Dubai’s wide-ranging support measures since the onset of the pandemic, especially its five stimulus packages worth Dh7.1 billion, helped the private sector ease financial pressures and reduce operating costs and ensure the impact of the pandemic did not translate into long-term challenges.
Sheikh Hamdan issued the directives at a meeting chaired by him in the presence of H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and First Deputy Chairman of The Executive Council of Dubai. The meeting, also attended by senior officials, reviewed ways to support the private sector in the current environment. The move is the latest in a series of initiatives that have included the introduction of several stimulus packages to enhance the sustainability of businesses, said Wam.
The meeting also evaluated various measures being taken to promote economic and business recovery and simplify and reduce procedures for the business sector that will help enhance Dubai’s competitiveness and investment attractiveness.
Sheikh Hamdan said 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. “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,” His Highness said.
Highlighting the strong partnership between the public and private sector, Sheikh Hamdan said: “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,” he added.
YOU MIGHT ALSO LIKE: