Sharjah 24 – WAM: In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has approved legislations aimed at creating a new legal framework for Dubai Chambers and their Boards of Directors. The legislations are aimed at helping Dubai Chambers achieve their strategic objectives, reinforcing Dubai’s position as a global economic hub, and supporting the business community in the emirate.
The legislations include a Decree establishing Dubai Chambers as a new entity that replaces the Dubai Chamber of Commerce & Industry and appointing Juma Al Majid as the Honourary Chairman of Dubai Chambers. Another Decree establishes the Board of Directors for Dubai Chambers and appoints Abdul Aziz Al Ghurair as its Chairman.
Other Decrees establish the Board of Directors for Dubai Chamber of Trade, the Board of Directors for Dubai Chamber of International Trade with Sultan Ahmed bin Sulayem as Chairman, and the Board of Directors for Dubai Chamber of Digital Economy with Omar Sultan Al Olama as Chairman.
The Decrees, which reflect Sheikh Mohammed bin Rashid’s vision for enhancing Dubai’s economy, establish three specialised chambers to cater to new requirements resulting from the emergence of new economic sectors. The new legislations help create the fundamental structural changes necessary for Dubai Chambers to operate effectively in an evolving environment, going beyond traditional models.
The legislations also enable Dubai Chambers to map out a clear vision for the future by adding more roles and powers, which allow the new organisations to raise their effectiveness and strengthen their role in developing sectors like digital economy and international trade.
As per the new legislation, Dubai Chambers' main responsibility is to develop plans and policies to enhance the emirate's global status as an economic hub and create an attractive business environment.
The new Decrees gives businesses and foreign investors an opportunity to contribute to the development of trade policies, regulations and legislations for various sectors, further strengthening the public-private partnership that has underpinned Dubai’s exceptional growth and achievements.
Acknowledging the vital role played by SMEs and entrepreneurs in the national economy, the Decrees also seek to provide them tools to develop their business and opportunities to tap local and global markets.
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