The Dubai Free Zones Council (DFZ Council) held its 18th meeting to discuss strategies that can boost Dubai-based startups and SMEs, in coordination with business accelerators, to elevate Dubai’s reputation as the exceptional destination for foreign direct investment and innovation.
His Highness Sheikh Ahmed bin Saeed Al Maktoum highlighted the importance of the highly flexible environment that Dubai’s free zones have created through their value-added and incentivized initiatives.
DFZ Council members highlighted that the recent decisions are taken by the UAE Cabinet, namely resolution no. 16 of 2020 concerning the determination of the positive list of economic sectors and activities eligible for foreign direct investment and percentage of their ownership, have made it easier to set up and conduct business operation in UAE. The decisions also create more opportunities for recruiting excellent talent, expertise, and innovative ideas from globally.
His Highness Sheikh Ahmed said:
“The decision coincides with Dubai’s preparations to host Expo 2020 Dubai, the largest global event of its kind, as it will have a strong positive impact on attracting foreign direct investment. Our economy presents a real example in boosting the global business community’s confidence to invest due to its flexible and secure business environment, the advanced and world-class infrastructure, and high quality of life that allows global talents and investors to consider it home.”
“Our unique initiatives are the result of the future-proof vision and directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to build a stable economy that adds value to investors. The wise leadership’s goal to enhance the economic, political, and social security in the UAE as well as the nation’s swift response to crises is expected to yield a significant return on investment.
DFZ Council members also discussed the Business Accelerator Unit initiative, which organizes meetings with relevant organizations, companies, and investors, to analyze challenges and propose innovative solutions that support a diversified, sustainable economy. In contribution to achieving the fastest economic recovery globally, they refer to local and international success stories across business sectors and innovate action plans to accelerate business establishment and development across different stages of the value chain, positioning Dubai as a preferred destination for business and innovation.
Dubai SME representatives also presented the Promising Startups Platform initiative in detail. The main aim of this initiative is to attract startups to Dubai, especially those developing unique and sustainable concepts, in collaboration with an integrated network from 15 countries.
News Source: https://www.mediaoffice.ae/en/news/2021/July/27-07/Dubai-Free-Zones-Council-Explores
