(MENAFN- Khaleej Times) The chairman and secretary-general of the Dubai Free Zones Council will be appointed by a decree from the Ruler of Dubai.
Dubai — In his capacity as Ruler of Dubai His Highness Shaikh Mohammed bin Rashid Al Maktoum Vice-President and Prime Minister of the UAE has issued Law No (13) of 2015 establishing the Dubai Free Zones Council.
Pursuant to the new law the objectives of the Dubai Free Zones Council include developing and qualifying Dubai’s free zones to attract investments; establishing advanced investment environment that contributes to promoting industry; commerce tourism and services sectors; enhancing coordination among Dubai’s free zones; promoting exchange of knowledge experiences and best practices between Dubai’s free zones; and establishing a reference authority to represent Dubai’s free zones on local regional and international levels.
The new council also aims to enhance the competiveness of Dubai’s free zones; define investment sectors and prospects within the free zones; support the implementation of the free zones’ objectives as part of Dubai strategic plan; enhance the performance and competiveness of Dubai’s free zones both regionally and globally; and contribute in the adaptation of efficient and resilient regulations and policies to boost economic activities inside the free zones.
The law prescribed the authorities and responsibilities of the Dubai Free Zones Council to include contribution to establishing the emirate’s strategic plans; prepare comprehensive strategy for Dubai’s free zones; drafting the polices and guidelines for free zones; and unifying the registration licencing and monitoring procedures applied in Dubai’s free zones.
The law also authorised the Dubai Free Zones Council to coordinate with Dubai’s concerned authorities for establishing an integrated database to serve the purposes of the free zones; revise the legislations and regulations that govern the free zones; and coordinate with concerned authorities regarding free zones and foreign investments affairs and representing them before local federal and international bodies and in local regional and international conferences and exhibitions.
The chairman and secretary-general of the Dubai Free Zones Council will be appointed by a decree from the Ruler of Dubai.
Law No. (13) of 2015 annuls the Economic Development Committee Resolution No (10) of 2011 on the establishment of the Dubai Free Zones Council and any other legislation that contradicts of challenges its articles. — Wam
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