Dubai: The Dubai Free Zones Council, led by H.H. Sheikh Ahmed bin Saeed Al Maktoum, held its 33rd meeting to discuss key topics including the enhancement of government cooperation, improvement of the business environment across free zones, and the advancement of regulatory readiness to support ongoing development.
According to Emirates News Agency, the meeting was attended by Lieutenant General Mohammed Ahmed Al Marri, Director General of the General Directorate of Identity and Foreigners Affairs in Dubai. The Council evaluated methods to improve cooperation and integrate efforts across free zones to simplify business operations. These initiatives are intended to improve the investor experience and streamline procedures within free zones.
The Council acknowledged the partnership efforts in various initiatives aimed at regulating the labor sector and simplifying related policies and procedures, including the 'Events Visa' initiative. It recognized the allocation of 71 staff members working around the clock within free zones as pivotal in accelerating transaction processing and operational facilitation, which supports business continuity and service readiness.
A proposal was introduced to develop a unified platform that would connect all free zones within an integrated system. This aims to unify procedures, enhance institutional coordination, improve government service delivery efficiency, and boost the business environment's competitiveness in Dubai.
The Dubai Cashless Strategy, presented by the Dubai Department of Finance, was also a topic of discussion. The strategy is part of efforts to enhance cooperation on digital payment initiatives, aiming to achieve the targets of the Dubai Cashless Strategy and move towards a fully integrated digital transactions ecosystem.
The Council discussed measures to improve compliance and readiness of free zones in line with efforts to support the Financial Action Task Force assessment. This includes measures to mitigate money laundering and terrorism financing risks across all activities and legal entities.
The Economic Security Centre of Dubai highlighted issues related to opening bank accounts for licensed companies in free zones. As a strategic effort to simplify procedures, a set of risk classification standards is being developed to align stakeholders and address challenges with banks. This initiative aims to strengthen cooperation among entities, facilitate business operations, and ease the process of opening bank accounts for companies while reducing associated risks.
The meeting also celebrated the 40th anniversary of the Jebel Ali Free Zone. H.H. Sheikh Ahmed by Saeed and Council members expressed appreciation to Sultan Ahmed bin Sulayem, Chairman of the Ports, Customs and Free Zone Corporation, for the Free Zone's success and its role in bolstering Dubai's global standing as a trendsetter in creating opportunities and future readiness.
Jebel Ali Free Zone is highlighted as a model of Dubai's emergence as a global trade and logistics hub, supporting the emirate's economic diversification and investment expansion. It remains a cornerstone of Dubai's development with its focus on innovation, comprehensive services, and connectivity across land, sea, and air.