Dubai: The Ministry of Finance has taken one more step towards making business regulation more federalised by setting out norms for a unified commercial licensing system for trademarks and registration across the UAE.
Chaired by the Minister of Economy Sultan Bin Saeed Al Mansouri, a meeting on Saturday discussed a list of regulations on brand consolidation that will be signed by all parties concerned, WAM reported Sunday.
The regulations on commercial licensing aim to prevent the duplication of business, shop and brand names across the country. Present at the meeting were representatives of the economic development departments of Abu Dhabi, Dubai, Umm Al Quwain, Ras Al Khaimah, Fujairah and the Chamber of Commerce and Industry of Ajman.
Mohammad Ahmad Bin Abdul Aziz Al Shehi, Director-General of the Ministry of Economy, said the ministry was keen on the involvement of numerous concerned departments in regards to implementing the unified commercial licensing system, which is part of the federal government's strategy and the national vision for 2021.
Al Shehi added that the strategy aims to enhance the quality of services provided in the economic sector for investors, whether in the foreign or domestic domain, in addition to coping with the rapid progress of the economy. It will also attract investments and trading groups to different parts of the UAE.
The integration of the strategy is in line with the ministry's goals of improving growth and quality in the national economy by introducing global competitiveness standards, he said.
Al Shehi also stressed the importance of strengthening the legislative system within the economic sector, and addressed the importance of the role that the local authorities and private sector will play in the strategy's implementation and follow-up procedures.
"Single-window processes are always beneficial for end users," said Debabrat Mishra, principal and consulting business leader at Hewitt Associates, Middle East.
"Currently, the place of registration, in some cases, provides the organisation with certain privileges such as tender bids. With the unification, it will make it easier for businesses across the country to have a level playing field.
"From a government entities perspective, this move could generate substantial manpower efficiencies. By unifying all registration and licensing at the federal level, it could leverage on the synergies and reduce duplication at the emirate level.
"Trademarks and names are a complex challenge these days, with the ever increasing number of organizations. Centralising it is a very efficient move for the long term," he said.
Humaid Bin Butti Al Muhairi, Executive Director of Cooperative Affairs in the ministry, added that the new strategy will rectify the problems of the current registration and licensing system.
"The old system had businesses register only with their respective emirate, which allowed the duplication of many of the names of the businesses. However, the new system will be under a unified database that will prevent the occurrence of such complications and mistakes."
Mohammad Shakeel, former economist at the Economist Intelligence Unit, now based independently out of Abu Dhabi, said: "The elimination of bureaucracy is always a good thing for business as it provides certainty for companies and facilitates ease of access."
How will this move impact investors? How else can the licensing process be regulated?
