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The emirate to reduce government-related procedures within 3 months to lower the cost of doing business
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The private sector to be granted more access to government projects
Dubai has decided to reduce the government-related procedures for businesses by 30 per cent over the next three months in an effort to improve the ease of doing business in the emirate, Crown Prince Sheikh Hamdan bin Mohammed said on Wednesday.
“As part of @HHShkMohd’s vision to support the private sector as a key partner in Dubai’s success, we issued directives today to reduce government-related procedures for businesses by 30% over the next 3 months to help companies unlock new growth opportunities,” the Crown Prince tweeted following a meeting to review steps being taken to support the private sector.
“Normal life has resumed and the increased stability of businesses will help raise the sustainability of Dubai’s economy,” he said. “We are determined to further support businesses and deepen the confidence of investors as part of ensuring a win-win partnership.”
The emirate is also planning to grant the private sector more access to government projects.
“Dubai’s public and private sectors have a longstanding partnership, and as part of expanding its scope, we are seeking to grant the private sector more access to government projects. We will also continue efforts to further enhance Dubai’s business environment and investment attractiveness,” the Crown Prince tweeted.
Dubai also already rolled out stimulus packages worth Dh7.1 billion ($1.93bn) to support its economy and minimise the impact of the pandemic on businesses and individuals.
The emirate’s economy is forecast to expand 4 per cent in 2021, according to government projections released in December.
Earlier this year, the government also launched Invest in Dubai, a platform offering advice and tools to investors looking to set up a business in the emirate.
Last year, the emirate attracted Dh24.7bn ($6.7bn) in foreign direct investment in 2020 through 455 projects, according to data from the Dubai FDI Monitor.
