Media ININ Economy We Trust
23-02-2019 Media in\ Dubai
The Dubai Free Zones Council, chaired by His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Air, discussed the overall geographic economic map of the emirate in accordance with the provisions of the 50th Charter, which reinforces the emirate’s status as a global destination for investment and business.
The Council also discussed the completion of the requirements of activating the e-commerce initiative and linking the free zones in Dubai directly with the Statistics Center to receive statistics and data immediately and enhance the facilities provided by the Council to free zone companies and comply with the requirements of the European Union for tax compliance and the opening of commercial bank accounts.
HH Sheikh Ahmed Saeed Al Maktoum, Chairman of Dubai Free Zones Council, said that drawing the economic map of the Emirate of Dubai, which the Dubai Free Zone Council has started to work on, is one of the most important items of the 50th document announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai “to achieve His Highness’s vision to improve the quality of life and develop the society and ensure the future of future generations so that each geographical sector has economic and investment objectives that enhance the integration of economic sectors in the Emirate and contribute to the achievement of the other eight items in the document, For silk.
The Dubai Free Zone Council is mapping Dubai’s economic landscape with support from the Department of Economic Development, the Dubai Chamber of Commerce and Industry, Dubai Development Authority, Jebel Ali Free Zone, Dubai International Financial Center, Dubai Customs, Dubai Municipality, World Free Zone Organization and Ministry of Economy.
The Council discussed the central role that Dubai Free Zones will play in providing the pillars of achieving the provisions of the 50th document through its decades-long experience in developing initiatives aimed at diversifying the UAE economy, enhancing sources of income and attracting local, regional and international investments in the interest of building a diversified diversified economy and improving the quality of life. In all its aspects to the individual and society of the Emirate and the State as a whole.
He continued the latest developments in the e-commerce initiative, especially in the field of logistics and data and opportunities to strengthen the position of Dubai as a regional distribution center in the field of e-commerce through a series of integrated actions and plans that will increase the implementation of e-commerce contribution to the total output of the emirate to reach 12 billion dirhams by 2023.
The Council also discussed the benefits of achieving direct connectivity to the free zones in Dubai with the Statistics Center to facilitate access to data and statistics immediately, especially with the availability of all elements of technical readiness for this step, which constitutes an update of the unified database project.
The Council heard a number of proposed initiatives to enhance consumer confidence and reduce the costs of doing business in e-commerce, including developing the rules for e-commerce practices, defining the responsibilities of their respective platforms, developing detailed legislation in line with international standards, reducing fees, supporting small businesses and emerging enterprises, Procedures for recruitment in warehousing and distribution of e-commerce products.
He also reviewed the measures to enhance international and European compliance standards, especially with respect to tax compliance of companies and businesses in free zones, to ensure transparency of transactions in various sectors in banking, insurance, fund management, leasing, shipping, holding companies, IP companies, distribution centers,
The Council also discussed mechanisms to facilitate the opening of bank accounts for companies, especially small and medium-sized enterprises, in cooperation with banks and various actors in the banking sector, thus enhancing the competitiveness of the country in the global indicators of ease of doing business.
