Standardizing Dubai’s business procedures in line with global practices
Dubai has launched a new initiative called the Dubai Unified Licence (DUL) project, which aims to consolidate all economic establishments in the emirate and its free zones onto a single platform. The primary objective of this project is to streamline the process of data collection,management, and sharing.
According to the Dubai Media Office, the DUL project will serve as a reliable digital source of information, providing a unified digital registry. This initiative is a collaborative effort between the Dubai Free Zones Council and is applicable to both existing and new businesses in Dubai, regardless of whether they operate with a mainland or a free zone licence.
The scheme targets standardizing Dubai’s business procedures in line with global practices. Also, it aims to ensure that the most up-to-date company records, including licence details and data, are consistently maintained within the digital registry.
Enhancing the ease of doing business
According to Helal Almarri, director general of the Department of Economy and Tourism (DET) in the emirate, the initiative exemplifies their commitment to enhancing the ease of doing business, promoting transparency, and embracing digital-first approaches. He further stated that the initiative seamlessly integrates with Dubai’s advanced digital technology infrastructure, leveraging their smart city capabilities to foster business expansion and solidify Dubai’s position as one of the world’s top three global cities.
DET, established as a result of the merger between Dubai’s departments of economy and tourism in November 2021, has a key focus on improving the business environment in the emirate and fostering investment and growth. Additionally, it actively encourages collaboration between the government and private sectors to drive the economic development of the emirate.
Since its inception, DET has already issued over 50,000 licences, and it has plans to issue more in the near future, encompassing all registered companies in both Dubai mainland and free zones.
Comprehensive process of validation
As part of the new plan, businesses will undergo a comprehensive process of validation, verification, and screening conducted by the relevant authorities before obtaining their distinctive digital identity.
In addition to enhancing transparency and efficiency, the DUL will significantly reduce the time required for companies to establish and manage their operations.
The streamlined approach is anticipated to draw interest from global investors and entrepreneurs in search of a business environment that is free from unnecessary complications. This will further enhance the emirate’s appeal as a preferred global business hub.
Source: economymiddleeast