DUBAI: The Dubai Free Zones Council (DFZC) held its 24th meeting, headed by H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the DFZ Council, where he emphasized that the flexibility of Dubai’s free zones is due to the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to achieve the key goals of the Dubai Economic Agenda D33 – double the size of Dubai's economy over the next decade and consolidate its position among the top three global cities.
H.H. Sheikh Ahmed bin Saeed said: “Dubai continues to enhance the flexibility of its economy based on knowledge, innovation, and digital transformation. It is developing its advanced infrastructure, improving its regulations, and upgrading the integrated and advanced business environments that it provides to local and international companies.”
He pointed out that the free zones in Dubai are a regional and global success story thanks to their valuable and diverse options that enable international companies to establish headquarters and complete international transactions with ease. This is the path that the free zones continue to follow today, consolidating Dubai’s position as a preferred destination for establishing and growing business.
H.H. also highlighted the importance of activating the role of Emirati youth and enabling them to benefit from the opportunities provided by free zone companies in Dubai across specializations vital to the economy of the future.
The Council, in cooperation with the Department of Economy and Tourism, reviewed the results of cooperation between the free zone authorities, the outcomes of efforts by specialized committees from the licensing team, the IT team, and the legal team, through 30 workshops that were organized to facilitate doing business, in line with the Dubai Economic Agenda.
The Council discussed regulating the free zone-licensed establishments’ mainland activities, provided that legal procedures are followed. These activities include obtaining a permit from the respective licensing authority and coordinating with the relevant free zone authority, opening a branch in the emirate to do business activities from the same location in the free zone, in accordance with the procedures enforced by the licensing authority.
Council members also noted that the free zones are committed to contributing to the achievement of the Dubai Economic Agenda D33, and facilitating the journey of investors and founders by maintaining flexible work frameworks and patterns, and supporting the setup, operation, and expansion procedures within an integrated business ecosystem that provides all necessary requirements and needs, thus strengthening Dubai’s ranking on ease of doing business indices.
He hinted to a series of measures that the free zones in Dubai are working on with concerned authorities to enable companies to choose their preferred free zones in the emirate, build their capabilities, and expand globally. The measures also encourage startups and enable entrepreneurs to establish their businesses in the free zones, which is vital given the importance of startups to Dubai’s future economic strategy.
The Council members agreed on the importance of highlighting opportunities for Emirati talent at free zone-based companies in Dubai, and introducing them to companies searching for new talent.
The Council was briefed on the digitalization and data management project for the outcomes of the Dubai Demand Side Management Strategy 2030, which will save 30% in electricity and water consumption, supporting the achievement of sustainability by 2030.