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 simplify government requirements by 30% within three months, in order 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 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 today, 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 doing business in Dubai. The meeting reviewed ways to support the private sector At this stage, in continuation of Dubai’s stimulus elements aimed at ensuring business continuity and sustainability, and alleviating 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.
His Highness the Crown Prince of Dubai stressed during the meeting that Dubai will continue to support various business sectors to overcome the repercussions of the current stage in order to discover new opportunities for growth and identify paths that will accelerate recovery rates. His Highness said: “We have made great strides in advancing the economic recovery efforts of the Emirate of Dubai thanks to the directives of His Highness. Sheikh Mohammed bin Rashid, 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… We are continuing to support our investment environment and consolidate the foundations of investor confidence within the framework of a partnership aimed at always succeeding 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 implementing government projects. His Highness said: “Government flexibility and efficiency are the basis for continuing to attract business and develop the investment environment… and the procedures that The Dubai government has 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 as it is a major component of development and a partner for us in government projects… Dubai was and still is the first destination for entrepreneurs business 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 confidence in Dubai’s environment as the preferred destination for business in the region.
It is noteworthy that the Dubai government, since an early stage of the global crisis caused by the spread of the Covid-19 pandemic last year, and specifically since March 2020, has 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 that The world is going through, reducing the operational burdens and obligations on the private sector, and enabling it to overcome the repercussions of the global crisis, which is the most difficult challenges faced by humanity in modern history.