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Dubai, United Arab Emirates: The Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development (DED) in Dubai, has signed a Memorandum of Understanding (MoU) with the DIFC Dispute Resolution Authority (DRA) to support the emirate's economic ambitions outlined in Dubai Plan 2021. The document was signed by Fahad Al Gergawi, Chief Executive Officer of Dubai FDI, and Michael Hwang, SC, Head of the Dispute Resolution Authority and Chief Justice of the DIFC Courts.
The MoU focuses on promoting Dubai as a centre of legal excellence that offers certainty to global investors and businesses operating in the emirate.
"A globally trusted dispute resolution mechanism is integral to investor confidence in Dubai. We are delighted to have DIFC Dispute Resolution Authority as our partners as it enhances our combined efforts and Dubai FDI's message to investors worldwide that Dubai has the best systems to sustain and grow their investment," commented Fahad Al Gergawi.
The DIFC Dispute Resolution Authority (DRA) was established in 2014 as a platform for delivering legal excellence in the Middle East and as the gateway to a suite of services available to businesses operating in Dubai. Its divisions, which include the DIFC Courts, DIFC Wills and Probate Registry and Academy of Law, work in partnership to provide businesses with unparalleled choice about how to resolve their commercial disputes, to develop legal talent and to protect individuals investing or living in Dubai.
Chief Justice Michael Hwang said: "When it comes to resolving commercial disputes, companies and investors like choice and certainty, and Dubai offers both in abundance. We look forward to working with the Dubai FDI team to showcase Dubai's legal excellence on the global stage. The DRA is proud to be working alongside the emirate's other official bodies to make Dubai and the UAE one of the best places in the world to do business."
Under the terms of the MoU, the DIFC DRA and Dubai FDI will also collaborate on the exchange of information and research, and the hosting of joint conferences and exhibitions.
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About Dubai FDI:
The Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development (DED), works to promote investment opportunities in Dubai and support international investors to establish a presence here whilst taking advantage of Dubai's strategic location to access the MENASA region.
Dubai FDI assists in the identification of sector specific opportunities, provide connections to a network of both government and non-government partners, and provide support throughout the investment lifecycle from setup to growth.
About the Dispute Resolution Authority (DRA)
The Dispute Resolution Authority administers justice and legal excellence within the Dubai International Finance Centre (DIFC). Established in 2014, it is the third body of the DIFC, alongside the DIFC Authority and the Dubai Financial Services Authority.
The DRA currently incorporates the DIFC Courts, Dubai's established English-language, commercial common law judicial system; DIFC Wills and Probate Registry, the first Common Law, English language wills and probate service for non-Muslims in the Middle East; and the Academy of Law, an independent entity that provides quality education and support to the UAE legal community.
For further information, please contact:
Faisal
Shamsudheen
Government Communication Division,
Department of Economic Development
Tel: (971 4) 445 5927
Email: faisal.pathiasseri@dubaided.gov.ae
For further information, please contact:
Liam Turner/Tameem Alkintar
ASDA'A Burson-Marsteller
Dubai, UAE
Tel: 971-4-4507600
Fax: 971-4-4358040
Email: liam.turner@bm.com/tameem.alkintar@bm.com
© Press Release 2015
