Ahmed bin Saeed chairs Dubai Free Zones Council meeting, reviews efforts to boost government cooperation and investor experience

The Dubai Free Zones Council, chaired by His Highness Sheikh Ahmed bin Saeed Al Maktoum, convened its 33rd meeting to review priority topics such as strengthening government cooperation, advancing the business environment across free zones, and enhancing regulatory readiness to facilitate their continued development.

In the presence of His Excellency Lieutenant General Mohammed Ahmed Al Marri, Director General of the General Directorate of Identity and Foreigners Affairs in Dubai, the Council explored ways to enhance cooperation and achieve greater integration of efforts across free zones for increased ease of doing business. These efforts aim to elevate the investor experience and enhance the efficiency of procedures at free zones.

The Council commended the integrated partnership manifesting across a host of initiatives aimed at regulating the labour sector and simplifying policies and procedures related to the sector and entry permits.

This includes the ‘Events Visa’ initiative, which has been utilised by major companies operating in free zones, and the allocation of 71 staff members on a 24/7 basis within free zones was highlighted as a key enabler in accelerating transaction completion and facilitating operational requirements, supporting business continuity and enhancing service readiness. The Council also discussed a proposal to establish a unified platform serving all free zones within an integrated system, contributing to the unification of procedures, strengthening institutional coordination, improving the efficiency of government service delivery, and enhancing the competitiveness of the business environment in the emirate of Dubai.

The Council also discussed the Dubai Cashless Strategy presented by the Dubai Department of Finance, as part of efforts to strengthen cooperation on digital payment initiatives and support the achievement of the Dubai Cashless Strategy targets. The discussion reflected a unified government approach towards accelerating the transition towards a fully integrated digital transactions ecosystem.

Significant surge

The Council discussed steps to boost compliance and enhance the readiness of free zones in the context of coordinated efforts and due diligence measures supporting the Financial Action Task Force assessment to prevent money laundering and terrorism financing risks across all activities and legal entities.

The Economic Security Centre of Dubai highlighted challenges related to the opening of bank accounts for licensed companies in free zones authorities. As a strategic step reflecting the simplification of procedures, work is underway to develop a set of standards for risk classification and align them among relevant stakeholders to address challenges with banks in the country. This aims to strengthen institutional cooperation among the concerned entities, facilitate the conduct of doing business and the opening of bank accounts for companies, while ensuring a significant reduction in associated risks.

Recalling the journey of achievement and celebrating the 40th anniversary of the establishment of the Jebel Ali Free Zone, His Highness Sheikh Ahmed by Saeed and the Council members expressed their appreciation to His Excellency Sultan Ahmed bin Sulayem, Chairman of the Ports, Customs and Free Zone Corporation, and his team, for Jebel Ali Free Zone’s impressive track record and its key role in strengthening Dubai’s position as a global trendsetter in terms of creating new opportunities and enhancing future readiness.

Jebel Ali Free Zone stands as a role model exemplifying Dubai’s rise as a global hub for trade and logistics, supporting the emirate’s economic diversification and expanding its investment base. It constitutes a key pillar in Dubai’s development journey with its constant emphasis on innovation, comprehensive services, and land, sea, and air connectivity.