(MENAFN- Khaleej Times) The Department of Economic Development (DED) in Dubai has signed a memorandum of understanding (MoU) with the Dubai Free Zones (DFZ) Council to facilitate business operations for free zone based companies. The collaboration is driven by the shared commitment of the two entities to reinforce Dubai as the number one global hub for attracting businesses, facilitating processes for them and enabling them to concentrate on growth.
As a government entity, the DFZ Council looks after the development of free zones, seeking to attract investments, establish integration and coordination between different free zones in the emirate, and exchange expertise with DED through utilizing their expertise in preserving consumer rights and licensing economic operations in Dubai.
The MoU was signed by Sami Al Qamzi, director-general of DED, and Dr Mohammed Al Zarooni, secretary-general of the DFZ Council, in the presence of several officials from the two entities.
"The DED is keen to improving our services to promote sustainable economic development and facilitate business activity. Through this agreement, we aim to streamline licensing procedures for businesses operating in free zones, thereby strengthening Dubai's position as a preferred investment destination. Together with the DFZ Council we will work towards enhancing the role and contribution of free zones in Dubai in national economic growth and elevating to productivity in Dubai to the highest level," Al Qamzi said.
"We are committed to continuously developing the business environment and infrastructure to ensure that the emirate retains its competitive advantage on a global scale. Our efforts are focused on transforming Dubai into a sustainable and smart city of choice to live, work, and visit, as well as a key contributor to the global economy, as directed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai," he added.
Dr Al Zarooni said the DFZ Council believes in the importance of developing consumer rights protection systems and the appropriate licensing laws for enterprises, as it seeks to enhance the role of free zones in Dubai's economic development in line with the emirate's vision to become one of the best sustainable investment destinations in the world.
"We are pleased to sign this MoU with the DED to gain from its extensive experience as a well-established government institution. We are confident that the DED will fully support our efforts to protect consumer rights, and facilitate licensing for businesses operating in free zones, allowing them to operate within the emirate," he said.
As per the MoU, the DFZ Council shall provide DED with a list of liaison officers for each free zone, to serve as the point of contact between the Free Zones Authorities and DED and coordinate in the event of any complaint within any free zone.
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