The UAE has been ranked as the top Arab country and 22nd globally in terms of starting a business, compared to 46 in 2012, a report said on Wednesday.
According to the Doing Business Report, moving higher up in the rankings is the sign of a successful outcome of the exemplary procedures being put in place by the UAE to facilitate doing business and enhance competitiveness. The findings noted that the World Bank has also adopted business registration and licensing procedures in Dubai as the standard for the ease of starting a business in the UAE and the Department of Economic Development in Dubai (DED) applies best practices to build on those procedures.
The report relies on 10 key indicators including the ease of starting a business. Business start-up in Dubai has witnessed steady growth during the past two years due to the various landmark initiatives progressively being launched by DED.
DED initiatives are designed and implemented as per the directives of Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum , to provide an ideal climate conducive for investment and business in line with international standards and in a way that enhances economic growth and the global position of Dubai.
A key initiative of DED in this regard was automating the traditional business registration process to by 95%, and integrating it with the electronic platforms of the federal and local government concerned to reduce time and effort for investors and business owners.
DED has also strengthened its co-operation with the private sector through outsourcing the services of the Business Registration ‘&’ Licensing Sector (BRL) to selected law firms and private companies capable of providing such services to customers over extended hours.
Sami Al Qamzi, Director General of DED told the UAE’s state-run WAM news agency: “I thank His Highness Sheikh Mohammed Bin Rashid Al Maktoum for his trust in DED and his directives to enhance the business environment in Dubai. The BRL is one of the main sectors in DED that provides varied services for the business community, and it actively contributes to enhancing the ease of starting a business in coordination with the Emirates Competitiveness Council and the authorities confirmed in Dubai.” The business ranking also comes at a time when a team, headed by Mohammed Shael, CEO of Business Registration ‘&’ Licensing Sector in DED , is at the World Bank headquarters in New York, to update them on the latest improvements done by Dubai to enhance the ease of doing business.
Recently, BRL launched the first beta version application of its kind in the world to manage its services through smart phones, iPhones and iPads. The services include renewal and registration of companies, trade name reservation, renewal of trade names, initial approval of licenses, renewal of licenses, payment of license fees and fines, as well as company lookup (search for existing companies operating in Dubai and gain information on their business activities).
Shael said: “The Department of Economic Development is always keen to update the World Bank on the results achieved by the BRL Sector, as well as share our knowledge and expertise with government entities and organisations concerned with business registration within the region and worldwide. Our objective is to highlight the flexibility we can offer to investors and business owners in obtaining licenses and doing business”.
BRL Sector is keen to keep up with all that is new in developing and providing value-added services to customers, which helps to reach its primary goal of being the best business destination globally.