Media Report: Dubai Department of Economic Development (ded)
Autor: Samar Zahra Syed • October 27, 2015 • Essay • 312 Words (2 Pages) • 946 Views
Media Report
Huda Ashkanani
October 23, 2015
Media Report
This article discusses new law to standardize and regulate economic activities in Dubai outside Free zones. This article is available in Gulf News (October 2015). In Dubai, various kinds of licenses are issued to investors in Free zones. Free Zone permits 100% foreign ownership which helps in minimization of various trade tariffs, barriers and quotas. Dubai Department of Economic Development (DED) is a government entity which is responsible for issuing licenses, facilitating business and for updating rules and regulations for investors in Mainland of Dubai. DED is responsible for regulating all economic activities carrying outside Dubai free zones.
DED designed provides significant services which are very fruitful and well organized with fewer restrictions as compared to the free zones. According to new Law no. 13, issued in 2011 allows companies to open their branches through free zone entity with DED. Companies now can obtain license from DED which permits them to work in mainland of Dubai. This law promotes business activities in Dubai but these companies have to face certain limitations while performing activities. it has strong and major impact on facilitating systems for investors. Branches cannot conduct activities like trading, labor supply services, commercial agencies and restaurants.
This new law regulates Dubai economic activities, encourages investment in various economic grounds, extends investment and economic awareness and recognizes different investment opportunities in Dubai. Moreover, coordination can be created among government authorities in terms of commercial licensing practice. In this way, accuracy and availability of information for private and public stakeholders can be achieved. This clearly shows that how laws affect business activities positively if molded in right manner. This new law develops an investment-friendly environment for investors. According to Shaikh Mohammad’s website, new law ‘facilitates business interests’. It improves economic growth and creates economic environment in Dubai.
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