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Dubai economic package to boost investments, job growth

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Dubai economic package to boost investments, job growth

Dubai: A business workshop attended by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, is part of a series of government initiatives aimed at boosting Dubai’s economy.

The workshop afforded business people — from companies ranging from start-ups and small- and medium-sized enterprises (SMEs) to global multinationals — to opportunity to explore ways to keep Dubai attractive to the business community.

Shaikh Mohammad said, “The most important part of these workshops is constructive dialogue that achieve a true partnership between the public and private sector, particularly in light of the advantages that are available on a daily basis, which encourages consolidating cooperation and consultations between public bodies and business people and investors.”

Dubai economic package to boost investments, job growth
In March, Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council, announced that the emirate would be freezing government fees for three years.

Two weeks ago Dubai’s Department for Economic Development (DED) announced initiatives to exempt firms from some fines and trade violations, reduce operational costs for retailers, as well as support local production and attract start-ups.

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Ramy Zaki, Chairman of the Multinational Companies Business Group (MCBG), formed two weeks ago, was one of those attending.

“It was an initiative from the government … to see what more can be done to ensure that Dubai remains as competitive as possible and continues its path of growth and attractiveness,” he said, though he preferred to leave details of what was discussed to a government announcement.

“It was basically a forum for dialogue, for policy intervention to continue to make Dubai our home, the best place to do business,” he said.

“We have contributed our thoughts.”

Zaki said there was a good cross-sectional representation of companies of different profiles at the workshop.

“I think the key thing here is that this is a great initiative by the government,” he added. “Anything that goes into creating platforms for exchange, for dialogue, is extremely valuable. I think everyone around the table would benefit from that.

“At the end of the day I think we’re all working towards the same objective of making this place the best place to do business in, making Dubai a continued success, a thriving economy, an attractive city and a nice home.”

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