Servcorp: Law on Dubai Economic Council set to strengthen Dubai’s business environment

March 2017 | Servcorp

Dubai, UAE, March 2017: The Dubai Government’s new law, No (03) of 2017, to transfer the responsibilities of the Dubai Economic Council (DEC) to Dubai’s Department of Economic Development (DED) is set to strengthen Dubai’s business environment, according to Servcorp the leading provider of serviced offices and business package solutions in the Middle East.

In addition to supporting the economic decision-making process, the new law will involve the private sector in the process of developing public policies through the Dubai Chamber and the DED. It will also set out to further encourage partnerships between public and private sectors to boost economic growth and enhance international competitiveness.              

Established in 2003, the DEC’s remit saw it support the government in economic policymaking. The new law will contribute to maximising the expertise obtained from available resources - employees of the DEC will be transferred to the DED.

Commenting on the new law, Laudy Lahdo, Servcorp’s Middle East General Manager said: “This is yet another positive move for Dubai as it continues to position itself as a preferred investment destination. The new law and specifically, the transfer of expertise will fortify the government’s services in providing detailed business advice and support to companies in the region.

“Specifically, public-private partnership initiatives are critical to adding value to Dubai’s economy – the added benefit of transferring knowledge and experience from the private sector to the public sector is vast and is a positive initiative the government has been pushing to boost economic diversification in accordance with its Dubai Plan 2021.

“Continuing to ensure the highest level of accountability and transparency will prove key to the region’s ongoing growth and future prosperity in what remains an unpredictable global economy.”