“Economy”: The new commercial agencies bill is still in its legislative stages
The Ministry of Economy clarified that the new commercial agencies draft law is still in the stages of its legislative cycle according to the mechanism followed in the country to issue and approve laws, and that it is still too early to give details about the draft law and to go into its amendments, as it was recently transferred from the Council of Ministers to the Federal National Council, where It will be discussed and may be subject to further modifications and improvements in cooperation between the competent committees of the National Assembly and the concerned government agencies.
For its part, the Dubai Chamber stated that the rapid changes that the UAE and Dubai are witnessing in various sectors and at all levels, confirm the seriousness and success of its approach in developing a new work methodology that mimics the changes and enhances its global leadership for the next fifty, adding: "There is no doubt that the establishment of an economic system Competitive and sustainable that reflects its positive results on all sectors and contributes to improving the lives of individuals and society, which needs a modern organizational and legislative infrastructure that keeps pace with changes and accelerates the transformation process.”
And the Chamber continued in a statement: “Based on its main role in enhancing Dubai’s position as a global capital of economy and business and representing and supporting various business sectors, the Dubai Chamber reviews, expresses opinion and studies on relevant laws, decisions and legislation, including the regulation of commercial agencies through recommendations made to the competent government authorities. In this regard, based on realistic data based on the opinions and proposals of the private sector, within a consultative framework and positive constructive dialogue aimed at enhancing competitiveness, supporting the attractiveness of investments, and ensuring the sustainability of the success of national and global business projects.”
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