Dubai: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, issued Law No. 13 of 2015, which establishes the Dubai Free Zones Council.
Pursuant to the new law, the objectives of Dubai Free Zones (DFZ) Council include developing and qualifying Dubai’s free zones to attract investments, establishing advanced investment environment that contributes to promoting industry, commerce, tourism and services sectors, enhancing coordination among Dubai’s free zones, promoting exchange of knowledge, experiences and best practices between Dubai’s free zones and establishing a reference authority to represent Dubai’s free zones on local, regional and international levels.
The new council also aims to enhance Dubai’s free zones competitiveness, define investment sectors and prospects within the free zones, support the implementation of the free zones’ objectives as part of Dubai strategic plan, enhance the performance and competitiveness of Dubai’s free zones both regionally and globally and contribute in the adaptation of efficient and resilient regulations and policies to boost economic activities inside the free zones.
The law specifies the authorities and responsibilities of Dubai Free Zones Council to include contribution to establishing the emirate’s strategic plans, prepare comprehensive strategy for Dubai’s free zones, drafting the polices and guidelines for free zones and unifying the registration, licensing and monitoring procedures applied in Dubai’s free zones.
The law also authorised the DFZ Council to coordinate with Dubai’s concerned authorities for establishing an integrated database to serve the purposes of the free zones, revise the legislations and regulations that govern the free zones, coordinate with concerned authorities regarding free zones and foreign investments affairs and representing them before local, federal and international bodies and in local, regional and international conferences and exhibitions.
The council is also responsible for promoting new projects and investment opportunities within Dubai’s free zones, conduct studies and research, propose recommendations and publish statistics to support the government’s decision making process and strategic plans.
The Chairman and Secretary-General of DFZ Council will be appointed by a decree from the Ruler of Dubai, and their responsibilities and authorities are stipulated by this law.
The provisions of this Law do not impair the legal entity or competences of the authorities currently overseeing Dubai’s free zones, and each free zone remains subject to its governing legislations unless contradicting or challenging the provisions of this law.
Law No. (13) of 2015 annuls the Economic Development Committee Resolution No. 10 of 2011 on the establishment of Dubai Free Zones Council and any other legislation that contradicts its articles. The new law is to be published in the Official Gazette, and is valid from the date of publication.
