Dubai Free Zones Council confirms the strengthening of compliance and support for the entrepreneurial environment
Dubai, October 2 / WAM / Dubai Free Zones Council discussed during its thirty -second meeting, headed by His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Free Zones Council today, a number of strategic issues that contribute to consolidating the position of the free zones as a major engine for the growth of Dubai’s economy, and in support of the target of Dubai Economic Agenda D33 aimed at double the size of the emirate’s economy during the next decade and made it among the best three economic cities in the world.
The Council reviewed the latest developments related to the mechanism for evaluating compliance and obligations of companies registrars regarding the procedures of the real beneficiary, within the framework of national efforts to enhance the state’s readiness for the next evaluation of the “FATF” financial work group, in a way that supports the anti -money laundering and terrorist financing system, and promotes Dubai’s position as a global economic and financial center characterized by transparency and good governance.
The members were briefed on the “IGNYTE” platform initiative developed by the Dubai International Financial Center, as a leading digital platform for linking startups with experts, investors and major companies, to promote the entrepreneurial environment and keep pace with the Dubai Digital Economy Strategy.
The Council praised the initiative, and stressed the importance of generalizing the benefit of the platform to the companies of free zones to enhance growth, innovation and expansion towards global markets.
The Council also discussed the developments related to the law of special economic zones, and directed in consultation with the federal and local bodies on the necessary legislative procedures, in a way that contributes to developing the investment environment and enhancing sustainable competitiveness of free zones.
The Council discussed the challenges related to resettlement in the companies of the free zones authorities, and recommended to intensify efforts to increase training and employment opportunities for national cadres after the university stage and prepare them for the labor market, and the importance of enhancing cooperation with the UAE Human Resources Development Council in Dubai, in a manner that ensures attracting citizenship competencies and enabling them to contribute active in the private sector.
The members also reviewed the preparations related to the eleventh annual international conference of the World Free Zones Organization, which is hosted by the Chinese province of Heinan during the period from 10 to 12 October, with the participation of more than 1,500 senior policy makers, business leaders, investors and free zone experts from around the world, which is held under the slogan “Free Zones: Blinds of prosperity, trade and sustainable innovation in the world.”
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