Dubai’s Department of Economic Development (DED) recently presented a summary of the processes involved in setting up and doing business in Dubai to the World Bank in Washington, in a bid to promote UAE as a global business hub.

This initiative is part of DED’s strategy to enhance UAE’s ranking in the “Doing Business Report” for 2013.

Mohammed Shael, CEO, Business Registration and Licensing Division, also presented various growth initiatives such as online business contracts, which enable businessmen to sign agreements online.

This initiative requires joining efforts with government departments such as Dubai Courts and Emirates Identity Authority.

Discussions at the meeting also focused on "120 days hassle free license" initiative whereby investors get their licenses issued in one day electronically.

This initiative, which contributes to easing procedures, has been previously discussed with other involved government bodies such as Roads and Transport Authority, Dubai Courts and Dubai Municipality.

“DED is planning to group business activities in three categories - non-dangerous activities for human, animal, plant and environment; less dangerous activities, and dangerous activities that require approvals from other government authorities that are entitled to ensure the conformity of the license holder to the licence criteria on day 121, according to the mechanism agreed upon,” said Shael.

“DED, along with Dubai Courts, is set to visit the World Bank in January 2012 to discuss the previous topics profoundly to ensure the axes of ‘Doing Business Report’ for 2013 conform to the reality experienced by businessmen in the UAE. Business licenses are issued in Dubai in a move that combines two procedures at one time - register a company legally (commercial registration) and issuance of a business license, while the World Bank only measures one procedure, which is register a company legally,” added Shael.

“Business registration and licensing division plays a crucial role in promoting Dubai’s business environment through launching various growth initiatives. It is a key partner of the private and public sector in Dubai and seeks to provide the business community with various online services according to global best practices,” Shael concluded. – TradeArabia News Service