H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has launched a specialized platform to create opportunities for investors and consolidate Dubai’s position in the global investment landscape.
The new “Invest in Dubai” portal, which is considered to be the largest one-stop-shop platform of its kind by enabling investors to obtain trade licenses and launch their business easily in a matter of minutes, is a reflection of Dubai’s leadership in using smart solutions to enhance the Emirate’s investment environment.
The integrated portal for doing business in the Emirate was launched by H.H. Sheikh Mohammed at the meeting of The Executive Council and in the presence of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, and H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum.
“The confidence that international investors have placed in our emirate stems from its agile economy, solid legislative environment, and robust, investor-friendly infrastructure,” H.H. Sheikh Hamdan said in a statement. “Dubai is a city that is constantly renewing itself, offering a fertile growth environment for investors from across the world. It has created an integrated investment ecosystem powered by advanced technology and designed to support constant development, economic growth and efficiency.”
The Dubai Department of Economic Development will be administering the platform, which can be accessed on invest.dubai.ae. The centralized platform offers users various services which cover the entire business cycle, assisting businesses in searching for opportunities, registering trade names, getting initial approvals to issue a licence, ensuring all government requirements are met, and obtaining trade licenses, as well as government permits and approvals- all while eliminating the need to physically visit any service center.
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Image courtesy Emirates News Agency/WAM.
The platform enables investors to gain insights into investment opportunities (or projections for key sectors), and information on investment opportunities in commercial zones (or free zones), competitiveness assessments, locations of businesses in the city, key economic sectors, and cost of incubating businesses, in addition to sector reports and statistics on foreign direct investment (FDI).
Furthermore, the platform offers a range of packages and value-added services to facilitate the launch of commercial projects. These include opening a ticket for the new establishment as required by the Federal Authority for Identity and Citizenship, allocating labor quotas, opening a ticket at the Ministry of Human Resources and Emiratisation, notarizing the establishment contract by the Department of Economic Development, notarizing a rental contract by the Real Estate Registration Department, and obtaining a membership in the Dubai Chamber of Commerce and Industry.
It also allows investors to access information regarding the requirements, conditions and fees for issuing trade licences in Dubai for more than 2,000 commercial activities. The platform also allows them to manage their business using a personalized dashboard that provides an overview of partners, licenses, KPIs, and other useful insights.
The “Invest in Dubai” platform was developed by Smart Dubai and the Dubai Department of Economic Development, under the supervision of the General Secretariat of The Executive Council of Dubai. In developing the platform, a team of more than 70 members, representing more than 20 local and federal government entities, worked in direct coordination with the private sector, for a period of four months, putting in more than 80,000 working hours.