UAE - Mubasher: Sheikh Mohammed bin Rashid Al Maktoum, the UAE Vice President, Prime Minister, and Ruler of Dubai, has issued a new law to form the Dubai Integrated Economic Zones Authority, an independent legal entity with financial and administrative autonomy.
The new authority will supervise the operation of Dubai Airport Free Zone, Dubai Silicon Oasis, and Dubai Commerce City, according to a recent press release.
In addition, over 5,000 international firms across 20 key economic sectors will operate under the authority, with the economic activities regulated by the authority generating 5% of Dubai’s GDP.
Sheikh Ahmed bin Saeed Al Maktoum and Mohammed Ahmed Al Zarouni have been appointed as the authority's chairman and executive chairman, respectively.
Establishing new authority is in line with Dubai's objective to enhance services provided to businesses and investors, attract local and international companies, and accelerate economic growth.
Sheikh Mohammed bin Rashid said: "Our focus is on integrating government processes and facilitating greater access to global markets through an accelerated transition to a digital environment."
