DUBAI 1 October 2019: Dubai’s Executive Council has approved the emirate’s E-commerce strategy, which was prepared by Dubai Free Zones Council, in partnership with Dubai Chamber, Dubai Custom and Dubai Economic Department.
It aims at solidifying Dubai position as a hub for global ecommerce, which is set to reach Dh12 billion of the local GDP by 2023. The plan also aims to attract more foreign direct investments in the ecommerce sector, and increase the market share of the Dubai based firms in term of local and regional distribution to reach Dh24 billion by 2022.
Dubai plans to slash business cost of ecommerce activities by 20%, which includes reviewing cost of storage, custom fees, VAT and transportation among others. It also aims reducing papers and documents required for custom clearance and reduce fees imposed while passing through free zone gates.
Dubai Crown Prince and Chairman of Executive Council Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, chaired the meeting. Deputy Ruler of Dubai and First Deputy Chairman of the Council Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, attended.
Sheikh Hamdan said: “The UAE in general and Dubai particularly tops the list of the fastest growing electronic markets in the Middle East and North Africa region, thanks to the smart government initiatives and programmes that adopted digital transformation…It managed to boost investors’ confidence in the sector and offer opportunities of growth and development, where Dubai’s e-commerce work plan build on the exceptional success that Dubai has achieved in this domain.
“Today, Dubai is a platform for major global e-commerce firms, thanks to the conducive business environment and flexibility of investment, in addition to the integration between the government and private sector, as well as its logistics and strategic location that facilitate international trade,” Sheikh Hamdan added.