Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, has unveiled a customized forum to lure investors and improve Dubai's overall role investment landscape.
The latest "Invest in Dubai" portal results from Dubai's leadership in using intelligent solutions to boost the Emirate's investment climate. It is the first one-stop-shop website of its kind, allowing investors to acquire trade licenses and start their company in mins.
H.H. Sheikh Mohammed unveiled the
Emirate's interactive platform for doing business in the presence of H.H.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum and H.H. Sheikh Maktoum bin
Mohammed bin Rashid Al Maktoum at a meeting of the Executive Council.
H.H. Sheikh Hamdan said in a
statement that "foreign investors' trust in our emirate derives from its
agile economy, stable regulatory climate, and strong, investor-friendly
infrastructure." "Dubai is a city that is continually renewing
itself, creating a fertile growth climate for foreign investors." It has
developed an interconnected investment ecosystem focused on cutting-edge
technology that is planned to promote continuous development, economic growth,
and productivity."
The website, which can be found at
invest.dubai.ae, will be managed by the Dubai Department of Economic
Development.
The unified website aids companies
in looking for markets, registering trade names, securing initial permissions
to grant a license, ensuring all government requirements are fulfilled, and
obtaining trade licenses, as well as government permits and approvals—all while
avoiding the need to contact any service provider personally.
In addition to industry reports
and data on foreign direct investment, the website helps investors to obtain
insights into investment opportunities (or forecasts for key industries), as
well as information on investment opportunities in industrial zones (or free
zones), competition evaluations, market positions in the region, vital economic
sectors, and the cost of incubating companies (FDI). Furthermore, the platform
delivers many packages and value-added facilities to support commercial
ventures get off the ground.
This includes acquiring a membership,
allocating labor quotas, opening a ticket at the Ministry of Human Resources
and Emiratisation, notarizing the establishment contract by the Department of
Economic Growth, notarizing a leasing contract by the Real Estate Registry
Department, and opening a ticket at the Federal Authority for Identification
and Citizenship.
This includes acquiring a
membership, allocating labor quotas, opening a ticket at the Ministry of Human
Resources and Emiratisation, notarizing the establishment contract by the Department
of Economic Growth, notarizing a leasing contract by the Real Estate Registry
Department, and opening a ticket at the Federal Authority for Identification
and Citizenship.
It also provides investors access
to information on the conditions, terms, and fees for acquiring trade licenses
in Dubai for over 2,000 different commercial activities. They may also use a
customized dashboard to monitor their companies, which offers them an overview
of partners, licenses, KPIs, and other valuable information.
Smart Dubai and the Dubai
Department of Economic Growth partnered to create the "Invest in
Dubai" platform, overseen by the General Secretariat of the Dubai
Executive Council.
For four months, a team of more
than 70 participants from more than 20 state and federal government agencies
partnered directly with the private sector to develop the network, bringing in
more than 80,000 hours of work.
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