Dubai-UAE: Dr. Belaid Rettab, Senior Executive Director, Economic Research and Sustainable Business Development, Dubai Chamber of Commerce & Industry, represented Dubai Chamber at the seminar Business Regulation and Public Policy: The Costs and Benefits of Compliance held at the Erasmus University in Rotterdam.
Jointly hosted by EIM/Panteia Zoetermeer and Erasmus University Rotterdam, the seminar coincided with the launch of a thought-provoking book on the topic of the seminar published by Springer/New York in the series 'International Studies in Entrepreneurship'. The editors are André Nijsen, John Hudson, Christoph Müller, Kees van Paridon and Roy Thurik. Over 20 authors from nine different countries contributed to this volume. The Contribution of Dr. Belaid Rettab to the book titled: The New Rule Making.
The chapter argues that laws and regulations have their limitations and in abundance, they might become futile, particularly due to regulatory capture. Business Impact Assessment is called for to reduce costs of doing business in Dubai and to improve the quality of regulations. Corporate Social Responsibility (CSR) is also viewed to improve the general business environment. The chapter highlights the impact of regulations on businesses in Dubai and the situation of CSR in the market environment. The chapter calls for CSR (self-regulation) and argues that when fitted in sound public-private partnership framework could achieve general improvement of the business environment in Dubai.
André Nijsen (main editor 'Business Regulation and Public Policy; The Costs and Benefits of Compliance') presented the structure of the book and the main message while, the panel discussed how effective and efficient regulation of businesses may contribute to the achievement of public goals by government, while keeping compliance costs for businesses as low as possible.
The hot topic of the seminar was regulations which seemed more relevant than ever in the present financially turbulent times. The panel debated that today regulation as such is not under discussion; the real issue is the quality of regulation. Bad regulation drives out good regulation and obstructs the view on good regulation that really matters for the business community. Designing good regulation requires intensive consultation by government with the business community. The key goals of this consultation process are twofold: to promote broad endorsement of the public goals at stake and to make government aware of what compliance is really asking from businesses.
The panel hoped that serious consultation will lead to better policy decisions from the point of view of both government and businesses and said that the timely and incisive volume on this subject, being launched during the seminar, will appeal to entrepreneurs and business leaders, to regulators, lobbyists, and corporate lawyers, and to researchers of business-government relations.
Dr. Belaid Rettab added that "The seminar and book launch provided a golden opportunity of learning more about international practices in business regulation and public policy as it also gave a chance to network with the authors and high caliber specialists in the field.
"My working visit to GRI Global reporting Amsterdam, and a preparatory working session with EIM Zoetermeer Netherlands was very fruitful and will be handy in developing a proposed unit within Dubai Chamber specializing in assessing impact of regulations on businesses and pre-assessment of laws and regulations."
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Established in 1965, the Dubai Chamber of Commerce & Industry, according to article (3) of law No. (8/1997), is a non-profit public entity, whose mission is to represent, support and protect the interests of the business community in Dubai by creating a favorable business environment, supporting the development of business, and by promoting Dubai as an international business hub.
© Press Release 2009
