Dubai: Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, issued instructions to reduce government regulations by 30 per cent over the next three months to ease doing business and facilitate procedures for setting up business in the emirate.
The move is in line with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice- President and Prime Minister of the UAE and Ruler of Dubai, to support the private sector as Dubai’s partner in the journey of success by simplifying procedures to solidify the emirate’s competitiveness and increase its attractiveness to investors. It also aims to enable business sectors to explore new growth opportunities in the emirate.
“We are pressing ahead with plans to boost our investment environment and strengthen investors’ trust within a partnership aiming at achieving success for both parties,” Sheikh Hamdan said as he chaired a meeting of the Executive Council.
The meeting was held in the presence of Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, and the leaders of relevant government entities.
The meeting reviewed ways to support the private sector and the progress of work on recovery plans as well as a slew of initiatives that aim to reduce administrative burden on the business sector.
“Government flexibility and efficiency is key to the continuity of business attraction and developing investment environment. The measures being taken by the Dubai government have consolidated its position globally as a business hub,” Sheikh Hamdan said.
“We are opening broader horizons and creating new opportunities for investors that allow them to meet their future plans,” he stressed.
Sheikh Hmadan added: “We have made great strides in our efforts as part of the ongoing path towards economic recovery in Dubai, thanks to Sheikh Mohammed’s directives that contributed to the gradual return to the pre-pandemic normality and boosted the continuity of the business sector in our quest towards a more flexible and sustainable economy in Dubai.”