Company formation specialist

‘Doing Business 2010’ report of the International Finance Corporation and World Bank, has revealed the remarkable efforts of the Dubai Team including various governmental organizations in the UAE in uplifting the country’s position from rank 47 to No. 33.These uphill struggles have been rewarded by the reverent words of appreciation by His Excellency Mr Sami Al Qamzi, Director General of the Dubai Department of Economic Development (DED). The ceremony was attended by H.E. Secretary General Abdullah Nasser Lootah, the Emirates Competitiveness Council (E.C.C).

Mr Sami Al Qazmi commented that the government strives for fulfilling the requirement of the ‘Doing Business 2010’ Report has placed a mark of pride internationally. According to him, he valued the government’s consistent focus on instigating a welcoming business environment for foreign investors and Business Setups. Not only did the report show the comparative positivism in the ranking but also attracts international investors by revealing ideal business trends in the economic environment of UAE.

These Positive indicators are categorized below:

Construction Permits,’ UAE improved its ranking from 54 to 27. up the ranks in

‘Registering Property’ from 11 to 7 and

‘Trading Across Borders’  from 13 to 5.

“These positive shifts in the ranking not only highlight the focus of the government in improving trade and the prospects of the property sector but also demonstrate how the businesses have responded to the governmental initiatives,” observed Mr Qamzi.

Dubai’s Executive Council had approved resolution 4/2009 for the formation of a team to develop business activities supervised by the Department of Economic Development in collaboration with various members from governmental authorities including

 Dubai Municipality,

 Dubai Customs,

Dubai Land Department

Department of Legal Affairs.

Emirates Competitiveness Council

Dubai Electricity and Water Authority (DEWA),

 Dubai Courts

Dubai Ports Authority

The World Bank collected relevant statistics from this allied network of legal authorities from February 2009 till end of May. A proposal had been submitted by the team for identifying quantitative indicators of doing business in Dubai as per the main indicators of the World Bank, which was approved by Dubai’s Executive Council and initiated a stage of ongoing development in June 2009. Different workshops and specialized field visits to sign partnerships with distinguished global economies in carrying out and doing business in UAE were also part of this stage.

His Excellency Al Qamzi.thanked the efforts exerted by the Government and relevant federal and local bodies that contributed to this pioneering accomplishment . “This is the beginning of a number of other joint initiatives that will strengthen the competitiveness of the UAE and Dubai internationally.”

About Department of Economic Development (DED):
The Department of Economic Development (DED) is the government body entrusted to set and drive the economic agenda of the emirate of Dubai, UAE. DED supports the structural transformation of Dubai into a diversified, innovative service-based economy that aims to improve the business environment and accelerate productivity growth.
DED and its agencies develop economic plans and policies, identify and support the growth of strategic sectors, and provide services to domestic and international investors and businesses.