During its 13th meeting held at the headquarters of the Executive Council of the Government of Dubai, chaired by HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Free Zones Council, the Dubai Free Zones Council discussed the progress of drawing up the comprehensive geographical economic map of the emirate, thus enhancing Dubai's position as a global preferred investment destination. And start a business.

The Council also discussed options for long-term leases for investors in free zones for up to 50 years, a 'one license' initiative to facilitate the free zone companies' rental of real estate in other free zones to carry out their activities, an initiative to enhance the attractiveness of Dubai to international companies for the emirate's headquarters. Free zones platform «X10».

Added value to the economy

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Free Zones Council, said that the initiatives undertaken by the Dubai Free Zones Council, such as drawing up the economic map and enhancing the attractiveness of Dubai as a headquarters for international companies, generate value for the emirate's economy and enhance the economic diversification that distinguishes it. This is in line with the content of the new season messages launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai.

His Highness stressed that the integration of the efforts of the free zones in Dubai, contributes to the promotion of economic diversification that characterizes the economies of the future, and forms an integrated support system required and useful to generate and implement innovative economic ideas that constantly renew the economy, and establish exceptional quality opportunities in it, and attract small and medium enterprises as well as major international companies Entrepreneurs and entrepreneurs have been able to transform their creativity and ideas into reality on the ground, pointing out that this in turn contributes to the enhancement of Dubai's leadership position as an open laboratory for creative projects and a global capital for economic ideas. In line with His Highness Sheikh Mohammed bin Rashid Al Maktoum's vision to create free zones.

“The future is promising because Dubai has been keen to innovate, test everything new, embrace technology, provide advanced infrastructure and build integrated business systems, and is therefore ready to look to the future economy and industry.”

Economic map

The Council was briefed on the latest developments in drawing a geo-economic map for Dubai, with the team emphasizing that it has reached advanced stages in order to foresee a better future for the free zones, according to a strategic plan of action until 2030, maintain its excellence, enhance its competitiveness, and expand its successful experiences.

The economic mapping team comprises the Ministry of Economy, Department of Economic Development, Dubai Chamber of Commerce and Industry, Dubai Development Authority, Jebel Ali Free Zone, Dubai International Financial Center, Dubai Customs and Dubai Municipality.

The Board also discussed the draft law regulating leases in the free zones in the Emirate of Dubai in coordination with the Department of Land and Property and representatives of the free zone authorities in a manner that enhances the attractiveness of real estate options available to companies, including extending the lease of long-term leases to 50 years instead of limiting them to 25 years. Years.

Single license

The council discussed the “single license” initiative, which was launched with the aim of facilitating the free zone companies 'rental of real estate in other free zones to practice their activities, instead of resorting to issuing new commercial licenses from other free zones to simplify the procedures and facilitate the companies' activities in the various free zones.

The Board heard a presentation on the initiative to attract international corporate headquarters to Dubai, to be the main business center, based on four key characteristics of Dubai, being a center of excellence, research and development, a gateway to the Middle East, Africa and Asia, a center for entrepreneurship and advanced technology, and as an ideal environment for business. Initially, the initiative targets 400 international companies in various disciplines.

Establishing a financial market

The Dubai Free Zones Council (FZC) discussed the initiatives of the Dubai X10 Free Zones platform, including support for the initiative to create a financial market that would provide the necessary funding, subscriptions and listings for free zone companies wishing to take advantage of these benefits. They discussed the necessary legislations to organize the initiative, and the coordination mechanisms required with the various concerned bodies to make it successful if implemented.

An initiative to attract 400 international companies in various disciplines.