His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, directed to facilitate the procedures for doing business, and to simplify government requirements by 30% within three months, to complement the initiatives of the Emirate of Dubai aimed at reducing the cost of doing business, stimulating economic growth, and enhancing the attractiveness of the business environment in The emirate is open to investors, based on the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to make Dubai the preferred destination for investment activities and the easiest destination for doing business globally.
This came during the meeting chaired by His Highness, the Crown Prince of Dubai, yesterday, in the presence of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and First Deputy Chairman of the Executive Council, and included leaders of government agencies concerned with facilitating business in Dubai. The meeting reviewed ways to support the sector This is a continuation of the incentives provided by Dubai, aimed at ensuring business continuity and sustainability, and easing the burdens on companies on the diversity of their business sizes.
The meeting discussed the progress of work in the recovery plans, in addition to a set of initiatives aimed at reducing administrative burdens on the business sector by simplifying procedures that enhance the emirate’s competitiveness and increase its attractiveness to investors.
During the meeting, His Highness, the Crown Prince of Dubai, affirmed Dubai’s continued support of various business sectors to overcome the repercussions of the current stage, to discover new opportunities for growth, and to identify paths that would accelerate recovery rates.
His Highness said: “We have come a long way in advancing the economic recovery efforts of the Emirate of Dubai, thanks to the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, which contributed to the gradual return to normal life and supported the continuity of the business sector, consolidating the foundations of a sustainable and resilient economy in Dubai, and we are continuing to Supporting our investment environment and consolidating the foundations of investor confidence within the framework of a partnership that aims to always succeed for both parties.”
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum commended the strong ties that have long gathered in Dubai between the public and private sectors, and called for strengthening partnership with them in the implementation of government projects.
His Highness said: “Governmental flexibility and efficiency are the basis for continuing to attract business and develop the investment environment, and the procedures followed by the Dubai government have established its position globally as a business incubator, and we are working to open wider horizons and create new opportunities for investors that meet the requirements of their future plans, and strengthening partnership with the private sector is a strategic goal because it is a major element One of the elements of development and a partner for us in government projects, Dubai was and still is the first destination for entrepreneurs in the region.”
The initiative to reduce government requirements by 30% is part of a package of strategic initiatives aimed at accelerating recovery and enhancing Dubai’s economic advantage, and is complementary to the launch of the “Invest in Dubai” platform launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum last February, with the aim of unifying procedures for the business sector within The largest unified digital platform that gives investors the opportunity to obtain commercial licenses and start business within minutes, in an easy and smooth manner that saves time and effort, confirming the keenness of the Dubai government to continue its support for investors and increase their level of confidence in the environment of Dubai and a preferred destination for business in the region.
From an early stage of the global crisis caused by the spread of the “Covid-19” pandemic last year, specifically since March 2020, the Dubai government provided several stimulus packages to various business sectors, amounting to about 7.1 billion dirhams, with the aim of alleviating the economic repercussions of the exceptional situation it is going through. the world, reducing operational burdens and obligations on the private sector, and enabling it to overcome the repercussions of the global crisis, which is considered the most difficult challenge faced by humanity in modern history.