Searching for opportunities to attract Emirati talents
The "Free Zones" Council discusses the facilities for opening bank accounts for small companies
The Council supported the "My Tomohi" initiative in "Dubai Ports World" and the Jebel Ali Free Zone. archival
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The Dubai Free Zones Council, headed by His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Council, discussed the council’s work plan in light of the encouraging economic and investment indicators that Dubai is achieving in various vital sectors. The Council also discussed providing the necessary banking facilities for small and medium-sized companies that face difficulties in Opening bank accounts, opportunities to attract Emirati talents in the free zones, and a number of issues related to the business sectors in the free zones.
exceptional initiatives
His Highness Sheikh Ahmed bin Saeed Al Maktoum stressed that the council's initiatives confirm the commitment to strengthening its leading role in supporting the economic development process, based on the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, aimed at building an integrated economy.
His Highness said that this vision is directly reflected in the consolidation of Dubai's position as a global investment destination, and as a model for the integration of free economic zones specialized in various sectors, thus promoting the trade of free zone companies in the emirate, which has chosen Dubai as a platform for prosperity and growth for its business.
Bank facilities
The council discussed providing the necessary facilities for small and medium-sized companies located in the free zones, which face difficulties in opening their own bank accounts, in cooperation with the Emirates Banks Federation, where the banks expressed their willingness to cooperate with the council in this regard.
The Council pointed out that these facilities are in line with the emirate's vision and strategy, to facilitate business and consolidate its position as a global destination for investors and entrepreneurs locally and globally.
savings program
The council heard a detailed presentation from the Dubai International Financial Center team, on the "Savings Program for Expatriate Employees", as savings programs play a vital role in supporting the economy.
The Dubai International Financial Center team reviewed a comparison between the expected income if this program was applied to the free zones, calling for benefiting from the positives of this program implemented in the Dubai International Financial Center.
standardization of nomenclature
Within the framework of Dubai’s position as one of the most active economic and investment centers around the world, the council discussed the generalization of the “ISIC 4” system, which is a unified register that describes and classifies economic activities in accordance with international standards and classifications. This register aims to standardize the names of economic activities and provide clear and accurate economic statistics at the emirate level. This will contribute to raising the country’s classification in the ease of doing business index, as well as the positive impact of this system in standardizing data at the level of the competent authorities, in a way that ensures compliance with the national classification and the requirements of international bodies “FATF”.
My ambition program
The council was also briefed on the "Tomohi" program initiative, which was reviewed by the representative of "DP World" and the Jebel Ali Free Zone. The program aims to encourage and enable distinguished Emirati competencies to acquire real experiences and skills in all fields and sectors.
During the meeting, the members of the Council approved supporting the initiative, enhancing the contribution of national cadres in the private sector, and providing them with scientific and professional training in major companies located in the free zones.
The members of the Free Zones Council also confirmed the provision of all aspects of support to the Emirati Human Resources Development Council in Dubai, which includes the “Free Zones Council” in its membership, as the members approved supporting all initiatives aimed at providing job opportunities for citizens and building job competencies, for the benefit On citizenship families and society.
Ahmed bin Said:
• «The Council's initiatives confirm the commitment to strengthening its leading role in supporting the process of economic development».
• Facilitating business and consolidating the emirate's position as a global destination for investors and entrepreneurs.
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