04 September 2016· Aimed to take public-private collaboration and mutual trust to new levels
· Closer ties with private sector critical to sustainable growth: Mohd. Shael Al Saadi
Dubai - The Department of Economic Development (DED) in Dubai has signed a memorandum of understanding (MoU) with the CEO Clubs Network as part of strengthening relations with the private sector in the emirate in line with the 'Business Community Engagement' initiative launched by DED earlier this year. The MoU marks a significant step towards achieving the strategic objective of DED to create win-win partnerships between the public and private sectors in Dubai and enabling businesses with privileged access to the promising investment ecosystem in the emirate.
Commenting on the MoU, Mohammed Shael Al Saadi, CEO of Corporate Strategy Sector in DED said the partnership would facilitate and accelerate collaboration between government and CEOs across the various industries in Dubai and promote mutual respect and trust between the public and private sectors.
"I am pleased that following the launch of the Business Community Engagement initiative by the Department of Economic Development in April 2016, many business representative entities expressed interest to forge strategic partnerships with the DED to exchange ideas, address industry gaps, resolve challenges and plan initiatives for the future," said Al Saadi.
"It is only with focused co-operation with the private sector can the government improve the operating environment and competitiveness of the sector. Increasingly, the business and industry groups should play a lead role in the development of the sector. The government will definitely support and facilitate the business groups," Al Saadi said adding that he is looking forward to more of such partnerships.
"CEO Clubs Network is very proud to be part of DED and its Business Community Engagement initiative is a great step. CEO Clubs will play a strong role of assisting local business community to get connected with the UAE and international business community to grow and expand business. We will work very closely with DED for this and any other initiative to attract FDI and make Dubai better secure business environment. I would like to thank DED for their confidence and trust in CEO Clubs" said Tariq Ahmed Nizami, Founder & CEO, CEO Clubs Network Worldwide.
The Business Community Engagement initiative is aimed to build and maintain constructive partnerships between the government sector and the business councils as well as business groups in Dubai. Through such partnerships the government and the private sector can exchange views and ideas on formulating policies and work together on innovative and mutually beneficial initiatives.
Strengthening its partnership with the private sector will also support DED to successfully pursue its mandate of achieving sustainable economic development through identifying growth enablers and prospects in each sector and optimising such opportunities. Al Saadi said constant engagement with the business community will add value to Dubai's economy by stimulating the public and private sectors to work together and grow competitively and sustainably.
"Over the next three years, the Department of Economic Development will launch programmes to gather views and ideas from the business community on current and future economic policies, and share information on trends and opportunities in co-operation with key private sector stakeholders under the Business Community Engagement programme. We have already identified 30 major initiatives in nine focus areas relating to sustainable development and engaging with the business community," Al Saadi concluded.
About Department of Economic Development (DED):
The Department of Economic Development (DED) is the government body entrusted to set and drive the economic agenda of the emirate of Dubai, UAE. DED supports the structural transformation of Dubai into a diversified, innovative service-based economy that aims to improve the business environment and accelerate productivity growth.
DED and its agencies develop economic plans and policies, identify and support the growth of strategic sectors, and provide services to domestic and international investors and businesses.
For further information, please contact:
Government Communication Division,
Department of Economic Development
Phone: +971 4 445 5927
© Press Release 2016