DED and Dubai World Trade Centre form partnership to simplify business licensing and operations
DWTCA will have access to DED’s Trade Name Reservation System
The Department of Economic Development (DED) in Dubai and the Dubai World Trade Centre Authority (DWTCA) has signed a memorandum of understanding (MoU) to facilitate business licensing and operations within their respective territories. The agreement will allow DWTCA to have access to the Trade Name Reservation System of DED, while companies licensed by DED will be allowed to operate within the DWTCA area under a Business Operating Permit issued by the free zone authority.
The MoU is aimed to unify procedures relating to business registration and licensing in Dubai, particularly to avoid duplication of trade names within the emirate. The move will facilitate business licensing and business operations for investors, thereby enhancing Dubai’s competitiveness and attractiveness as an investment destination.
The Department of Economic Development is working closely with public and private sectors to improve the quality of services and ease of doing business in Dubai, said His Excellency Sami Al Qamzi, Director General of DED, after signing the MoU with His Excellency Helal Saeed Al Marri, Director General of Dubai World Trade Centre, in the presence of senior executives from both the entities.
“There is no doubt that this agreement will help companies and individuals seeking to do business across multiple locations in Dubai. Our objective is to improve the quality of services and ease of doing business for all customers and the partnership reveals the commitment shared by government entities in Dubai to achieving the vision and goals of the government in pursuing excellence and building a culture of excellence among government employees,” added Al Qamzi.
“This agreement is also part of the strategic objective of the Department of Economic Development to promote critical growth sectors and provide a high quality business environment to all enterprises, local as well as international, which adds by way of diversity, innovations and productivity to the economy of Dubai,” Al Qamzi said.
“We are proud to partner with DED to provide a robust commercial platform for companies to establish their local, regional and global operations,” said His Excellency Helal Saeed Almarri. “The DWTC Authority serves as a strong regulatory complement to the DWTC business networking proposition, with a focus on delivering a state-of-the-art business ecosystem. Through this strategic alliance with DED, we aim to continue to offer a competitive choice for businesses, effectively supporting the unrestricted flow of people, capital, goods, services and ideas across the region, and acting as a catalyst for the economic development of the Emirate,” added Almarri.
Under the MoU, DED will supervise the implementation of the partnership arrangement and provide technical support and training for DWTCA employees to use the Trade Name Reservation system. DWTC on its part will utlise access to the DED database to ensure that trade names are not duplicated and also save its trade names of DWTCA entities in the system. DWTCA will also share information with DED on the status of companies operating within its jurisdiction, as required.