Council discusses free zones' performance

28/02/2016 06:08 AST

The second meeting of the Dubai Free Zone (DFZ) Council discussed proposed amendments to the draft statute, progress of strategy and data committees, a draft law to regulate land surveys in Dubai, a proposal to allow medical institutions based in Dubai Healthcare City to open branches inside free zones and the transfer of companies among free zones. It was presided over by Shaikh Ahmed bin Saeed Al Maktoum, chairman of the Council.

The strategic directions committee explained the council's vision and its role in advancing the performance of free zones. He said the strategic plan preparation has been assigned to a think-tank, in line with the requirements of the Dubai Strategy 2021.

A committee highlighted the purpose of database compilation - it is to create the framework of a unified general directorate to collect data about free zones to facilitate the task of decision-makers and to get a clear image on free zones' contribution to economic growth and Dubai's gross domestic product.

The database will also include a number of items, including: the names of companies licensed in free zones, the date of registration, the sector they operate in, nationalities, number of staff, subcommittees and more. The database is expected to be completed and available to the council by December 2016.

The council also discussed a draft law on the regulation of land survey works in Dubai which had been proposed by the Dubai Municipality. The council agreed to temporarily implement the proposed system, after which they will compile the results and present it to the wider DFZ Council for review.

Shaikh Ahmed commended the cooperation between free zones and the Dubai Municipality. The coordination boosts adoption of free zone schemes, facilitating services and raising performance, which helps attract more investment.

Council members also discussed a proposal to cooperate with the Dubai Healthcare City Authority to allow medical institutions based in Dubai Healthcare City to open branches inside free zones in Dubai. This will allow doctors and workers in medical care licensed by the Dubai Healthcare City Authority to operate in free zones.

The council approved a decision to facilitate the transfer of companies among free zones in Dubai. A company looking to relocate can transfer its full records to a new free zone without having to cancel its outstanding registration and/or liquidating business. This will give companies wishing to relocate to a more appropriate environment in Dubai financial and administrative stability. Shaikh Ahmed directed the legal committee to develop the framework and measures that will support this decision.

The Dubai Free Zone Council was established in April last year following law No 13 of 2015 issued by His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, to develop and qualify Dubai's free zones to attract investments and establish an advanced investment environment that contributes to promoting industry, commerce, tourism and services sectors in Dubai.

The council is made up of senior officials of various free zones in Dubai as well as the director-general of Dubai Municipality and the director-general of state security in Dubai.

Khaleej Times