The Dubai Media City was launched yesterday as a beacon of journalistic creativity bolstered by complete freedom of expression.
Speaking at the launch, Gen Sheikh Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Minister of Defence, said, "Freedom of expression is an integral part of the media, relating to censorship and how content is produced and relayed. I am aware of the vital importance this holds to the media world.
"I guarantee freedom of expression to all and the right to be completely objective in views and reporting. Let us do so responsibly, objectively and with accountability and in the spirit of the social and cultural context in which we live."
He told the media to research thoroughly, gather facts well and to act with moral responsibility.
"Make no accusations without evidence, cast no slurs without proof," he said.
"Growth is vital for business. As I look across the region at today's existing media capitals, we see trade legislation and practices that inhibit the growth of business.
"The UAE has understood that to flourish, the media needs to be unshackled from policies and practices that limit its independence and creativity."
Sheikh Mohammed emphasised that the freedom of expression would come with a price.
"I give you the right to speak your minds, but I will hold the media accountable for its use of this freedom.
"We who live in today's cyber age increasingly understand the importance of information and the media that carries this information.
"The TV, newspaper, radio and mobile phone are the tools that allow us to utilise this information. But pause and think.
"If knowledge is power, then the media that brings it to us is the source of that power."
Construction of the Dh3 billion Media City's first phase will start in January.
The Media City is the third major enterprise to be announced as part of the Dubai Technology, E-Commerce and Media Free Zone Authority, and will work with the other two operating companies - Dubai Internet City and Dubai Ideas Oasis.
It will offer 100 per cent foreign ownership and 50-year corporate and personal tax exemptions.
The Media City will be built on 200 hectares and will be equipped with leading-edge technology including production and transmission facilities. For an annual registration fee, tenants will be offered a "one-stop shop" registration and visa service.
Sheikh Mohammed said negotiations are underway to bring international and regional companies to Dubai.
He said the Dubai Media City will attract the international media, providing a centre for communications, serving as a media hub for the region and as a global link to the Middle East, subcontinent, CIS countries and northern, central and southern Africa.
"Significant investment has already been made in this ambitious project. It will be the regional base for media businesses, producers and freelancers from every sphere of the media; broadcasting, publishing, production, communication."
Sheikh Mohammed said the Dubai Media City will become a training centre to provide skills and expertise to UAE nationals under a greenhouse programme organised with leading UAE educational institutions.
Sheikh Mohammed said he hoped the guarantee of freedom of expression would encourage the Arab media and journalists to work from the Media City.