Dubai: Sheikh Mohammed issues laws to establish new corporations under Department of Economy & Tourism

Dubai: Sheikh Mohammed issues laws to establish new corporations under Department of Economy & Tourism

In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, issued Laws No. (5), (6) and (7) of 2023 establishing three new subsidiaries of Dubai’s Department of Economy and Tourism (DET). The new subsidiaries will seek to enhance key economic growth drivers including business attractiveness, development initiatives, ease of doing business, consumer protection and sectoral governance.

The new subsidiaries include the Dubai Corporation for Consumer Protection and Fair Trade, established under Law No. (5) of 2023; the Dubai Business Licence Corporation (DBLC), established under Law No. (6) of 2023; and the Dubai Economic Development Corporation

(DEDC) established under Law No. (7) of 2023. The three laws are effective from the date of their publication in the Official Gazette.

The move supports DET’s mandate of supporting the goals of the Dubai Economic Agenda D33 launched by His Highness Sheikh Mohammed bin Rashid. Announced in January this year, D33 aims to double the size of the emirate’s economy and consolidate its position as one of the world’s top three cities.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, said: