DED, DIFC ink treaty to unify company licensing procedures

Dubai The Dubai Department of Economic Development (DED) and the Dubai International Financial Centre Authority (DIFC Authority) have signed a cooperation agreement to unify licensing procedures and further enhance the business environment for investors in Dubai.

Under the agreement, the DIFC Authority will use the DED's licensing and trade name registration system for registering companies in the financial district.

This will support the Dubai government's effort to unify the registration procedures for trade names and avoid their duplication across the emirate.

Sami Al Qamzi, director-general of the DED, and Abdullah Mohammad Al Awar, chief executive of the DIFC Authority, signed the cooperation agreement.

Officials from the DED and the DIFC Authority attended the signing ceremony held recently at the DED headquarters in Deira.

"The agreement comes in line with DED's objective of achieving the vision of the Dubai Government in further developing the various economic sectors and providing a business-friendly environment a key factor for the continued growth of Dubai," Al Qamzi said in a press release Wednesday.