The Department of Economic Development (DED) presented an overview of Dubaiâ€™s current economic growth and investment opportunities to a visiting delegation of more than 40 Nigerian officials and entrepreneurs representing securities, banking and financial firms. Headed by Senator Nkechi Nwaogu, Chairman, senate Committee on Banking, Insurance and other Financial Institutions, the delegation is visiting Dubai to study the emirateâ€™s experience in the different economic sectors, especially banking and finance.
His Excellency Sami Al Qamzi, DED Director General, received the visiting delegation accompanied by Mr. Khalid Al Kassim, Deputy Director General for Planning and Development; Mr Ali Ibrahim, Deputy Director General for Excutive Affairs, and other high profile employees.
â€œDED focuses on enhancing the economic growth of the emirate, increasing its competitiveness, developing its human resources and promoting investment opportunities to attract leading businesses. DED is keen to continue its strategic partnerships globally and enhance regional cooperation and market expansion,â€ said Al Qamzi.
â€œThe liberal economic policy adopted by the Government of Dubai plays a vital role in the growth of trade and attracting foreign investment to the emirate. The Government plays a vital role in enhancing the competitiveness of the emirate by improving infrastructure, adopting pro-investment policies, legislation and incentives, and embarking on joint initiatives and projects with the private sector,â€ added Al Qamzi.
â€œDubai occupies a prominent position in the Middle East due to its robust economic performance and the successful growth achieved in various sectors. Dubai provides a suitable environment for international investors and entrepreneurs and encourages them to choose Dubai as an ideal destination for businesses,â€ saidÂ Mr. Ali Ibrahim.
Mr Al Kassim said that the Dubai Government is committed to implement business-friendly initiatives that offer value-added services to investors. â€œThe department has joined hands with other government organisations in boosting the emirateâ€™s economy in line with the Dubai Strategic Plan 2015.â€
The delegation was introduced to the services provided by the DED and its relations with other government bodies in boosting the emirateâ€™s economy. They were also briefed on the chief economic sectors that achieved high growth rates in the last few years and DEDâ€™s activities in the different economic and commercial sectors.
The team also studied the procedures and regulations necessary for setting up businesses and the DEDâ€™s role in enhancing the growth of Dubaiâ€™s business sector. Mr. Ali said that the DED reviews procedures and systems to simplify the steps for doing business and provide suitable investment options.
About Department of Economic Development (DED):
The Department of Economic Development (DED) was established in March 1992, with the objective to organise, regulate and boost trade and industry within the Emirate of Dubai. The DED has moulded its mission of building a futuristic establishment, in accordance with the vision of the Government of Dubai and in the light of globalisation and the requirements of a digital economy. One of its key functions is to encourage local and foreign investments in commercial and industrial projects, and create the appropriate environment for investors.
The DEDâ€™s other functions comprise a wide range of regulatory activities including the preparation and maintenance of a commercial register and the supervision of all organisations. The DED is responsible for regulating the affairs of commercial agents and brokers and commercial advertising offices, in addition to overseeing and controlling the insurance industry in the Emirate. Examining the participation of the government in the private sector and representing the government in companies where it has a stake, also comes under the purview of the DED.
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