DED and DTMFZA sign agreement to facilitate licensing procedures for investors

Dubai, May 31, 2009: The Dubai Department of Economic Development (DED) and The Dubai Technology and Media Free Zone Authority (DTMFZA) have signed a co-operation agreement to facilitate licensing procedures and provide a stronger growth-environment for investors in Dubai.

As per the agreement, DED will open a new branch in DTMFZA to issue licenses, business registration services and save trade names for companies and corporations that are planning to do businesses in the emirate.

This initiative is aimed at enhancing the business diversity within Dubai Technology and Media Free Zone by increasing geographical proximity between clients and service providers. It will contribute to adding more amenities and facilities to complement the lifestyle and operational requirements of the community, besides generating more business opportunities.

His Excellency Mr Sami Al Qamzi, Director General, DED, and His Excellency Ahmad Bin Byat, Director General, DTMFZA, signed the agreement. Officials from DED and DTMFZA attended the signing ceremony held, recently, at DED headquarters in Deira.

“The agreement with DTMFZA comes in line with DED’s objective to enhance the performance of Dubai’s business sector. The Dubai Technology and Media Free Zone Authority is one of the strong growth drivers of the Emirate’s economy and the new partnership will further enable investors to complete business initiation procedures swiftly,” said Mr Al Qamzi.

“DED will coordinate with concerned local and federal government bodies and encourage them to establish their branches within DTMFZA and assign staff members to offer comprehensive services to investors looking to set up new businesses. DED will also coordinate with DTMFZA to use DED’s data licensing and business registration system to review data and information related to all licenses,” added Sami.

His Excellency Mr Bin Byat said: “The agreement plays a vital role in further strengthening the growth of the business sector in Dubai in line with the Dubai Government’s strategy. It will also contribute to providing a business-friendly environment – a key factor for the success of Dubai”.

“DTMFZA is committed to cooperate with concerned government departments such as DED to attract investment and encourage trade and economic motion at all levels,” added Mr Bin Byat.