(MENAFN- Emirates News Agency (WAM))
DUBAI, 5th March, 2018 (WAM) -- H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, has chaired the meeting of the Strategic Affairs Council, SAC.
The meeting discussed a range of policies for various sectors, in the presence of H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Civil Aviation Authority and Chief Executive of Emirates Group, and the Council's members.
The participants were briefed about a study on the cost of conducting business in Dubai, which was presented by the Dubai Chamber, with the aim of developing a new way of measuring and tracking the costs to commercial businesses in Dubai, from a private sector perspective.
The study also aims to explore the increasing cost of conducting business in Dubai during the past five years and the factors that led to this increase, as well as the most affected sectors, through analysing information from various sources and discussing opinions from both the public and private sectors, as well as monitoring over 3,800 federal and local legislation and the financial information of over 750 companies. The study's outcomes were subsequently presented and discussed with concerned companies and government authorities.
The study also highlighted an increase in the cost of conducting business in Dubai over the past two years, with the labour market and rental being the key factors, as well as the rising cost of complying with regulations and laws and the rising cost of living, especially education.
It confirmed the sectors that were most affected during the past five years, with the commerce, industry, real estate and logistical services sectors topping the list.
The study also produced several recommendations, which include amending certain regulations and legislation to reduce the cost of conducting business, as well as other relevant initiatives.
The meeting was organised as part of the role of the Strategic Affairs Council in support of the efforts of the Dubai Executive Council, by suggesting plans and strategies to achieve overall excellence, and proposing solutions and initiatives to develop local services, to realise their goal of promoting the emirate's leading position and achieving community happiness and prosperity.
WAM/Nour Salman/MOHD AAMIR
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