As a businessman myself, I am delighted by the recent announcement of His Highness Sheikh Mohammed bin Rashid Al Maktoum that unveiled a digital platform to facilitate easy business setup for entrepreneurs in Dubai. The decree is a part of Dubai's initiatives to strengthen its business environment and propel economic progress.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, in his role as the Ruler of Dubai and the Vice President and Prime Minister of the UAE, has issued this new decree to consolidate licensing processes in Dubai. This includes the licensing processes overseen by the Department of Economy and Tourism, as well as the authorities responsible for special development zones and free zones, such as the Dubai International Financial Centre (DIFC), and other related organizations. I firmly believe that this action is pivotal in enhancing the business environment, stimulating economic growth, and elevating the investor experience in Dubai.
What is the purpose of the decree?
The investor experience in Dubai can be greatly improved through the integration of multiple licensing processes. The platform aims to improve the convenience and ease of investors by providing a simplified way to access information, obtain licenses, and avail other economic services.
The decree, which covers all economic activities in Dubai, also seeks to streamline and simplify the process of issuing licenses, permits, and approvals in the emirate. Additionally, it aims to assist investors in overcoming challenges related to establishing or running businesses in Dubai.
The goal of the decree is to improve electronic integration between licensing departments and other important organizations to prevent redundant procedures and support Dubai's digital transformation. This aligns with the objectives of the Dubai Economic Agenda D33, which aims to establish the city as a hub for the digital economy.
Resolution Issued by Sheikh Hamdan
Alongside the new decree, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, released a resolution that supports the fundamental principles of making the investment process in Dubai more convenient for investors. These principles are relevant to any licenses, permits, and approvals associated with business activities in Dubai. The resolution will take effect simultaneously with the decree.
In accordance with the resolution, all licensing entities and regulatory bodies at the federal and local levels in Dubai are obligated to facilitate a smooth investor experience. It defines actions like signing up for the digital platform “Invest in Dubai,” unifying digital data registration, expediting the licensing and renewal process, settling fees in a single step, streamlining licensing criteria, and standardizing procedures.
The Department of Economy and Tourism has been entrusted with the operation, management, and development of the 'Invest in Dubai' platform in partnership with appropriate licensing bodies. This adheres to the digital transformation guidelines outlined by the Dubai Digital Authority. All licensing and permit requests must follow the outlined procedures in the electronic guide provided by the Department of Economy and Tourism and be processed through this digital platform.
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