The Dubai Department of Economic Development (DED) in co-operation with the Dubai Courts will soon set up a new headquarters of the Centre for Amicable Settlement of Disputes at the Business Village.

Announcing this at press conference on Monday, Sami Al Qamzi, DED director general said the new centre will be a one-stop shop offering an integrated package of services for quick and cost-effective settlement of disputes for businessmen and investors in Dubai.

The initiative is based on a study submitted by Dubai SME, an agency of DED, to Dubai Courts on the development needs of small and medium enterprises, which account for 95 per cent of all businesses, 42 per cent of workforce, and 40 per cent of gross domestic product in Dubai.

The study pointed to the necessity for an investment environment that meets the needs of SME owners and allows for faster and affordable disputes settlement, he added.

DED decided to extend the new approach to all businesses given its wider relevance.

'There is no doubt that this service will enable speedier and affordable settlement of disputes, compared to what legal firms and offices offer, and that too without the need to go to the court,' said Al Qamzi.

On the new HQ, director general of Dubai Courts Dr Ahmed Saeed Bin Hazim said the initiative to move the Centre to the Business Village was to support economic activity in the emirate and contribute to resolving disputes in such a way so as to ensure economic and social stability.

'DED suggested opening a branch within its building in the Business Village. However, we chose to transfer the headquarters of the centre to the Business Village as it enjoys a strategic location that brings together businessmen and companies under one roof,' he  noted.

'One of our main functions, the ‘Notary Public,’ is already available in the Business Village. We are also co-operating with DED through electronic links and the use of new technologies to speed up the litigation process,' he added.

The Centre for Amicable Settlement of Disputes will have offices where legal suites can be filed as well as a judge specialised in the settlement of disputes, in addition to a group of experienced and qualified arbitrators.

Abdul Baset Al Janahi, chief executive officer, Dubai SME, said: 'We seek to support entrepreneurs, and encourage young people to develop SMEs through innovations.'

'SMEs are engines of economic development and a strategic catalyst in building a culture of innovation and creativity,' he noted.

Mohamed Amin Mubashri, head of the Centre for Amicable Settlement of Disputes in Dubai Courts, said: 'The centre works to resolve disputes amicably within a period of one month from the date of the parties presenting themselves with the arbitrators.'

'If reconciliation is reached, it is validated through an agreement signed by the two parties and approved by the competent judge. In case an amicable settlement is not reached, the dispute will be referred to court,' Mubashri remarked.

'The centre aims to provide a soft alternative to the judicial process, through facilitating amicable and affordable settlement of disputes before referring them to the prosecution. It also provides a mechanism to document dispute settlement processes,' he added.-TradeArabia News Service