The Dubai Free Zones Council discussed, during its 14th meeting, which was chaired by His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of the Council, at the headquarters of the Executive Council of the Government of Dubai, a number of topics, most notably the initiative to draw a geographical economic map of Dubai, the initiative to create a special zone for electronic games, and the portal Electronic Free Zones, which will be launched during the third quarter of this year, to help investors determine the most appropriate free zone according to their requirements.

Excellence and innovation

His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Free Zones Council, said that "the January 4th document sets the main pillars for the future of Dubai and enhances the emirate's position, in light of the urgent economic changes on the world stage."

His Highness stressed that achieving the goals of the document requires concerting all efforts between the various parties, and raising the levels of coordination and cooperation to build a distinguished and innovative economic work system, keeping pace with the aspirations of the economic emirate to attract more foreign investments and diversify the economy.

His Highness stated that the free zones implement the directives of the state’s leadership, and transform the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, into action plans through which they rise to performance, and employ innovation and modern technologies, to contribute effectively to the development process that they pursue. Dubai as the headquarters for major international companies.

electronic gate

During the meeting, the "Free Zone Window" initiative, the online portal for free zones in the Emirate of Dubai, was reviewed, which will be one of the channels to help investors determine the most appropriate free zone according to their requirements, through a few simple steps, which will enable the investor to contact the appropriate free zone according to the criteria that It was identified by the investor on the portal, while the portal will be launched during the third quarter of this year.

Economic map

The Council discussed the initiative to draw a geo-economic map of Dubai, as the study outputs that highlight the economic importance of free zones, the extent of their contribution to the local product, the outlook for the future, and the identification of promising sectors that must be focused on, in accordance with international best practices, have been explored with the benefit of successful experiences, Without affecting the competitiveness and model created by the Emirate of Dubai.

The study also focused on assessing the free zones through a prosperity and work index compared to the free zones at the global level, as it recommended the development of a comprehensive plan of action and strategy, in line with the goals of the January 4 document related to the economic path of the Emirate of Dubai.

During the meeting, the members were also briefed on the requirements for implementing realistic economic activities systems, the expected effects on the free zones sector and the companies affected by these systems, in addition to informing the members of the latest developments regarding the process of mutual evaluation in the country, according to the methodology of the Financial Action Group «FATF» regarding combating Money laundering and terrorist financing.

Facilities for investors

The Dubai Free Zones Council discussed cooperation with the Dubai Chamber of Commerce and Industry and the General Directorate of Residency and Foreigners Affairs, to facilitate procedures that enable investors to do business, by ensuring that they obtain a long-term residence visa (the golden visa) as an incentive to attract them, and maintain them as major contributors to the Dubai economy. The directive from the Executive Council to prepare a study to establish a special electronic games zone in Dubai as part of the 50th Plan for 2020 was also discussed.

Ahmed bin Saeed:

"Building a distinguished and innovative economic work system that matches the aspirations of the economic emirate to attract more foreign investments."