Subscribe Free
in Airports

DAFZA enables customers to obtain dual licenses to operate across Dubai

Posted 25 September 2017 · Add Comment

The Dubai Airport Freezone Authority (DAFZA) recently signed an MoU with the Department of Economic Development (DED) in Dubai to allow DAFZA's hosted companies to obtain dual licenses to operate across Dubai.

The MoU is in line with intensified efforts between DAFZA and DED to support the Dubai Government's goal of establishing a diversified and flexible knowledge-based economy driven by innovation and investment.

The agreement aims to strengthen cooperation on initiatives targeting all aspects related to providing economic support for DAFZA’s main services. It will also facilitate collaboration on areas of common interest that help achieve the strategic objectives of both parties. H.E. Dr. Mohammed Al Zarooni, Director General of DAFZA, and H.E. Sami Dhaen Al Qamzi, Director General of DED, were the official signatories.

The MoU aims to enhance coordination through the licensing and activities of companies operating in DAFZA. Applicants must obtain the approval of the freezone first, in accordance with the stipulated conditions.

Under the terms of the agreement, DED may modify or add any activity related to the licenses of companies subject to the approval of DAFZA. Both parties will work closely to improve the levels of governance, compliance and transparency for businesses working within DAFZA. They will also monitor and inspect licensed companies to ensure their compliance with the applicable laws on various commercial activities, particularly the Law on the Suppression of Fraud and Deception in Commercial Transactions, the Consumer Protection Law, the Commercial Transactions Law and Commercial Agencies Law.

Dr. Al Zarooni said: “The MoU complements DAFZA’s leading role in increasing the flow of FDIs, and is in line with our Strategic Plan for 2017 to 2021 which sets goals that support the national and economic objectives of our wise leadership as well as the ambitious strategic targets of the Dubai Government. We are confident that this new licensing agreement will add significant value to the economy of Dubai and the UAE in general, as it will help attract international investors and offer a unique business experience serving the best interests of companies operating within the freezone.” 

Sami Al Qamzi, Director General, Department of Economic Development, said: “We at the Department of Economic Development are committed to improving our services to achieve sustainable economic development and enhance competitiveness as well as convenience so that businesses in Dubai can cope with continuous changes and concentrate their time and efforts on growth. The agreement with DAFZA aims to streamline procedures by diversifying the service channels of our Department and enhancing transparency in licensing free zone entities. In order to implement the principle of transparency in the retail sector, the DED will supervise and inspect the licensed institutions to ensure compliance with the laws related to commercial activities especially federal laws, particularly the Anti-Commercial Fraud Law, Consumer Protection, Commercial Transactions and on Commercial Agency.”

Al Qamzi added that DED will continue to develop Dubai’s business environment to remain competitive in line with the emirate’s world-class infrastructure. “We are guided by the vision of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, to make Dubai a preferred place to live, work and visit as well as a smart and sustainable city and a pivotal hub of the global economy by 2021,” he said.

The MOU signing ceremony concluded with a tour of the DAFZA Square for the DED delegates. The group visited the Square’s modern facilities such as the new Business Center and Auditorium equipped with state-of-the-art technology and equipment to provide a unique quality experience for the freezone’s investors.

 

 

* required field

Post a comment

Other Stories
Advertisement
Latest News

CCD to create control rooms for Abu Dhabi’s new Midfield Terminal

CCD Design and Ergonomics has been appointed to design and create four new control rooms at the new Midfield Terminal at Abu Dhabi International Airport.

Ras Al Khaimah wins Middle East’s Leading Adventure Destination 2018’ award

Ras Al Khaimah Tourism Development Authority (RAKTDA) has celebrated two major wins at The World Travel Awards 2018.

Etihad Airways to host AI Robot Sophia at ATM

Etihad Airways will introduce Humanoid Robot Sophia to the UAE as a spokesperson for the future of innovation and technology in aviation at ATM.

İstanbul New Airport will house 451-room hotel to be operated by YOTEL

İGA, the constructer and operator of İstanbul New Airport (İNA) for 25 years,and YOTEL, the London based hotel group, have signed an exclusive hotel management contract.

Emirates wins four gongs at World Travel Awards Middle East 2018

Emirates has been recognised at the World Travel Awards Middle East 2018 with four awards - Middle East’s Leading Airline, Middle East’s Leading Airline Brand, Middle East’s Leading Business Class Airport Lounge and Middle East’s

Emirates Aviation University receives official visit from Dubai Police

Emirates Aviation University has welcomed Major-General Abdullah Khalifa Al Marri, commander-in-chief of Dubai Police at its main campus at Dubai Academic City.

TAA SK0902311218
See us at
Global Aerospace BT2018ASDubai BT1004091018Cargo BT1004091018SOFEX BT2018Istanbul Airshow BT22018BIAS BT271017161118MEBAA BT1004121218GATM BT1004061118AirportShow BT1502090518ArabianTravelMkBT250418