Law No. (7) of
2023
Establishing the
Dubai Economic
Development Corporation[1]
____________
We, Mohammed bin
Rashid Al Maktoum, Ruler of Dubai,
After
perusal of:
Law No. (5) of 1995
Establishing the Department of Finance;
Law No. (3) of 2003
Establishing the Executive Council of the Emirate of Dubai;
Law No. (23) of 2009
Concerning the Mohammed bin Rashid Establishment for Small and Medium-sized
Enterprises Development and its amendments;
Law No. (16) of 2013
Establishing the Dubai Investment Development Agency;
Law No. (1) of 2016
Concerning the Financial Regulations of the Government of Dubai, and its
Implementing Bylaw and its amendments;
Law No. (3) of 2021
Concerning the Dubai Industry and Export Development Corporation;
Law No. (8) of 2021
Concerning Human Resources Management of Executive Directors/ Chief Executive
Officers in the Government of Dubai; and
Law No. (20) of 2021
Establishing the Department of Economy and Tourism in the Emirate of Dubai,
Do hereby issue this Law.
This Law will be cited as
“Law No. (7) of 2023 Establishing the Dubai Economic Development Corporation”.
The following words and
expressions, wherever mentioned in this Law, will have the meaning indicated
opposite each of them unless the context implies otherwise:
|
UAE: |
The
United Arab Emirates. |
|
Emirate: |
The
Emirate of Dubai. |
|
Ruler: |
His
Highness the Ruler of Dubai. |
|
Government: |
The
Government of Dubai. |
|
Executive Council: |
The
Executive Council of the Emirate of Dubai. |
|
DET: |
The
Department of Economy and Tourism in the Emirate of Dubai. |
|
Director General: |
The
director general of the DET. |
|
DEDC: |
The
Dubai Economic Development Corporation established pursuant to this Law. |
|
CEO: |
The
chief executive officer of the DEDC. |
|
Economic Development: |
The
quantitative or qualitative sustainable production developments, which would
enhance the efficiency and improve the competitive capacity of the local
economy and which are aimed at increasing the gross domestic product (GDP),
enhancing the standard of living in the Emirate, and developing various
segments of the society. This is achieved through economic policies,
initiatives, and programmes adopted by the Government, and through
coordination and collaboration between the public and private sectors in the
Emirate. |
|
Economic Growth: |
An
increase in the production of goods and services by a society over a specific
period of time, measured by the increase in the value or quantity of these
goods and services in a given year compared to the previous year or a number
of previous years. |
|
Green Economy: |
An
economy that achieves Sustainable Development by focusing on minimising
environmental risks and transitioning towards the use of clean energy sources
and eco-friendly industries that contribute to reducing harmful emissions and
controlling global warming. |
|
Digital Economy: |
An
economy that is based on digital technologies to enhance business
productivity and economic activities, and to motivate the Information and
Communication Technology (ICT) sector to provide services and goods in
creative and innovative ways that may contribute to supporting various
economic sectors and activities. |
|
SMEs: |
Small
and medium-sized corporations, companies, and enterprises. |
|
Investment: |
The
direct or indirect investment of capital in any Economic Sector. |
|
Economic Sector: |
This
includes the commercial, investment, tourism, industrial, real estate,
financial, and technology sectors as well as the Exports, science,
entrepreneurship, logistics, transportation, retail, family enterprises, and family
companies sectors. |
|
Exports: |
The
services that are provided, and the goods and commodities that are shipped,
from the Emirate to foreign international markets. This includes re-exports. |
|
Investor: |
A
legal or natural person who invests in the Emirate. |
|
Preferential Privileges: |
The
incentives and exemptions granted to Investors, to SME owners, and to the
Economic Sector, in accordance with this Law, the resolutions issued in
pursuance hereof, and other legislation in force in the Emirate. |
Pursuant to this Law, a
public corporation named the “Dubai Economic Development Corporation” is
established. The DEDC will have legal personality, and the legal capacity
required to undertake all acts and dispositions that ensure the achievement of
its objectives. The DEDC is hereby affiliated to the DET.
The head office of the DEDC
will be located in the Emirate. The DEDC may, pursuant to a resolution of the
Director General, establish branches and offices within and outside of the
Emirate.
The DEDC will have the
following objectives:
1. to enhance,
develop, and improve the competitive capacity of the economy of the Emirate,
through the implementation of the Economic Development plans approved in the
Emirate;
2. to support the
diversification and sustainability of the Economic Sector in the Emirate;
enhance its contribution to the Emirate’s gross domestic product (GDP); and
develop and expand the productive and service base of this sector through
devising an integrated strategy for transitioning to a more productive and
sustainable economy;
3. to attract and
retain foreign Investments and global talents in promising vital sectors;
4. to promote the
Emirate as a global Digital Economy hub for Investments; entrepreneurship; and
the establishment of projects focused on innovation, artificial intelligence,
future technologies, and other technologies;
5. to preserve the
continuity of Family Companies and enhance their role in achieving Economic
Growth and Economic Development in the Emirate;
6. to position the
Emirate as a leading centre for Green Economy serving as a regional and global
hub for sustainable green practices and initiatives and for exporting and
re-exporting green products and technologies, with a view to maintaining a
sustainable environment that supports long-term Economic Growth;
7. to contribute to
supporting programmes of high priority to the UAE, including enhancing the
competitiveness of UAE national cadres and enabling them, in coordination with
relevant authorities, to occupy positions in private sector establishments,
particularly in knowledge and innovation-based Economic Sectors;
8. to contribute to
overcoming the obstacles and impediments that Investors encounter in conducting
their business and providing their services in the Emirate, with a view to
creating an investment-conducive environment for the Economic Sector;
9. to support Exports
and adopt incentive policies that support the Exports sector to enhance the
Emirate's position as a global hub for export and re-export; and
10. to establish the
efficiency of policies and processes with a view to supporting and empowering entrepreneurs
and SME owners; as well as offering them investment and economic opportunities
and enhancing their positions.
For the purpose of achieving
its objectives, the DEDC will, in coordination with the concerned federal and
local entities where required, have the duties and powers to:
1. propose Economic
Growth and Economic Development initiatives and programmes in the Emirate; submit
these initiatives and programmes, through the CEO, to the Director General for
approval; and follow up the implementation of the same upon their approval;
2. establish a
comprehensive framework for following up and evaluating the implementation of
Economic Growth and Economic Development plans on the ground, with the aim of exploring
their positive and negative impacts, identifying the obstacles hindering their
implementation, and proposing the necessary solutions to overcome these
obstacles and address their causes;
3. devise the plans
required for developing the infrastructure supporting Economic Growth and
Economic Development plans in the Emirate, with a view to facilitating the
transition towards the Digital Economy;
4. develop programmes
and initiatives for the development of priority Economic Sectors that are
linked to the Emirate's gross domestic product (GDP) and are approved in its
strategic plans;
5. propose the
Economic Sectors that need attracting Investment projects and that are aligned
with the Emirate's strategic plan, and submit the proposals to the Director
General to make the relevant appropriate decisions;
6. develop the plans
required for creating a suitable environment conducive to achieving economic
integration and self-sufficiency in important Economic Sectors;
7. propose and
develop planning methods and conduct research and studies on the process of planning
Economic Growth and Economic Development;
8. review and analyse
the current Economic Development climate in the Emirate; identify the current
and future economic opportunities available for all Economic Sectors; and
identify and address any obstacles hindering their growth;
9. develop
programmes, initiatives, and policies in the areas related to the Green Economy
and new environmental and urban fields, which are aimed at improving the
quality of life in the Emirate, providing an optimal environment for the
continuity of the business of Family Companies in various sectors in the
Emirate, expanding their business opportunities in the future Economic Sectors,
creating an integrated system for partnership with Investors and SME owners,
and developing and increasing productivity in all Economic Sectors;
10. develop plans to
diversify the career options available to UAE nationals, and identify
employment needs across various Economic Sectors, with the aim of increasing
their productivity and enhancing their personal and professional skills in
these sectors. This is aimed at enabling UAE nationals, in coordination with
the private sector, to secure employment in different Economic Sectors, with a
view to supporting the Economic Growth and Economic Development plans of the
Emirate;
11. prepare the
general policy and strategic plan for Investment in the Emirate, and for attracting
and developing Investment projects, SME owners, industries, and Exports; and
present the same to the Director General for approval, in preparation for their
final approval by the Executive Council;
12. identify the key
support areas for Investors, SME owners, exporters, and manufacturers to
benefit from Preferential Privileges; and make decisions regarding these areas
in accordance with the regulations and policies adopted by the DET and the
legislation in force in the Emirate, subject to ensuring consistency with the
international treaties to which the UAE is a party;
13. provide the
required information, clarifications, and statistics to those wishing to invest
in the Emirate, provide services to Investors to facilitate the processing of
their applications, and streamline the licensing and registration procedures
related to their Investment projects;
14. address any
obstacles that may arise amongst Investors, SME owners, exporters, and
manufacturers; and seek to find the appropriate solutions for them;
15. develop plans to
enhance the efficiency of the export environment in the Emirate by identifying
the needs of exporters; promoting an export culture among them; addressing the
challenges they face; and providing them with support services and qualified
human resources to raise their satisfaction with the Exports sector in the
Emirate;
16. determine the
standards required for the classification of SMEs;
17. coordinate with
the private sector on any matters related to the Economic Growth and Economic
Development plans of the Emirate, and identify the private sector’s needs and
aspirations for business growth and expansion;
18. propose
promotional and incentive programmes for Investment, SMEs, industry, and
Exports; define the criteria that Establishments and their products must meet
to be eligible for registration in these programmes; and present the proposals
to the Director General for approval;
19. propose the
Preferential Privileges offered to participants in the promotional and
incentive programmes related to Investment, SMEs, industries, and Exports; and
present them, through the DET, to the Executive Council for approval;
20. provide qualifying
programmes to Investors, SME owners, exporters, and manufacturers whose
businesses have the potential to generate positive economic impact; and
encourage them to diversify their Investments in areas that have strategic and
economic significance, with a view to achieving economic integration;
21. coordinate with
international organisations and institutions in the areas pertaining to
Investment and to the development of SMEs, industries, and Exports;
22. publish
periodicals and bulletins covering topics related to Economic Development in
the Emirate, particularly those pertaining to Digital Economy, Green Economy,
Investment, SMEs, industries, and Exports;
23. identify target
Export foreign markets and determine the products and services that may be
exported from the Emirate to these markets; and provide the assistance,
information, and technical advice required for assisting Establishments in
developing their capabilities to market their products in foreign markets;
24. propose
concluding, or acceding to, international treaties and conventions, pertaining
to industries, Exports, Investment, services, entrepreneurship, SMEs, and
Family Companies, with other countries and international organisations; and
present these treaties and conventions to the competent entities in the Emirate
to give the relevant directives;
25. propose and
implement initiatives and programmes that aim to raise awareness of the
importance of the industrial, Exports, services, entrepreneurship, and SME
sectors in supporting the Emirate's gross domestic product (GDP);
26. propose the
establishment of strategic funds to support various Economic Sectors in
accordance with the legislation in force in the Emirate;
27. form permanent or
temporary committees and work teams, from amongst the employees of the DEDC or
other persons. The resolution forming any of these committees or work teams
must determine their functions and terms of reference, and any other relevant
matters; and
28. exercise any other
duties or powers required for the achievement of the objectives of the DEDC, as
assigned to it by the Director General.
The executive body of the
DEDC will be comprised of the CEO and a number of administrative and technical
employees. These employees will be governed by the relevant human resources
regulations approved by the Director General.
a. A CEO will be
appointed to the DEDC pursuant to a resolution of the Chairman of the Executive
Council.
b. The CEO will be
directly responsible to the Director General for exercising the duties and
powers assigned to him under this Law, the resolutions issued in pursuance
hereof, and the legislation in force in the Emirate. The provisions of the
above-mentioned Law No. (8) of 2018 and the resolutions issued in pursuance
thereof will apply to the CEO.
c.
The CEO will supervise the work and activities of the DEDC
in a manner that ensures the achievement of its objectives. In particular, the
CEO will have the duties and powers to:
1. prepare the
general policy and the strategic and development plans of the DEDC; submit the
same to the Director General for approval; and follow up their implementation;
2. propose the
policies and strategic plans required for developing the Economic Sectors in
the Emirate; and submit the same to the Director General for approval, in
preparation for their final approval by the Executive Council;
3. propose the
projects, initiatives, activities, and programmes that contribute to achieving
the objectives of the DEDC and enabling it to exercise its functions; and
submit the same to the Director General for approval;
4. draft the bylaws,
regulations, and resolutions governing the administrative, finance, and
technical work of the DEDC; and submit the same to the Director General
Directors for approval;
5. prepare the
organisational structure of the DEDC, and submit the same to the Director
General for approval, in preparation for final their approval by the Executive
Council;
6. supervise the work
of the executive body of the DEDC and appoint competent and specialised
employees;
7. submit periodic
reports on the performance of the DEDC to the Director General to give the
relevant directives as he deems appropriate;
8. promote
institutional relationships with the concerned corporations, sectors, and
organisational units that are part of, or affiliated to, the DET; and with
other relevant partners and entities, with a view to achieving the objectives
of the DET and the DEDC;
9. represent the DEDC
before third parties and execute the contracts, agreements, and memoranda of
understanding to which the DEDC is a party, in accordance with the relevant
delegation of authority matrix adopted by the Director General; and
10. exercise any other
duties or powers assigned or delegated to him by the Director General.
d. The CEO may
delegate to any of the DEDC employees any of his powers under paragraph (c) of
this Article, provided that such delegation is specific, in writing, and in
accordance with the relevant delegation of authority matrix approved by the
Director General.
The
financial resources
of DEDC will consist of:
1. the financial
appropriations allocated to the DEDC in the budget of the DET; and
2. any other
resources approved by the Executive Council.
a. In managing its
accounts and records, the DEDC will apply the rules and principles of
government accounting.
b. The Financial Year
of the DEDC will commence on 1 January and will end on 31 December of each
year, except that the first Financial Year will commence on the date on which
this Law comes into force and will end on 31 December of the following year.
The DEDC may, in accordance
with the legislation in force in the Emirate and subject to the approval of the
DET, outsource any of its functions under this Law to any public or private
entity pursuant to an agreement concluded with that entity in this respect.
This agreement will determine the rights and obligations of the parties as well
as the conditions, requirements, and standards that the entity must observe
when performing the functions outsourced to it by the DEDC.
Government Entities in the
Emirate must fully cooperate with the DEDC and provide it with the data,
information, and statistics it requests to enable it to achieve its objectives
and perform its functions under this Law, the resolutions issued in pursuance
hereof, and other legislation in force in the Emirate.
1. all the duties and
functions assigned to the Dubai Investment Development Agency and to the Dubai
Industry and the Export Development Corporation under the above-mentioned Law
No. (16) of 2013 and Law No. (3) of 2021, and the resolutions issued in
pursuance thereof;
2. the financial
appropriations allocated by the Department of Finance to the Dubai Investment
Development Agency and the Dubai Industry and Export Development Corporation in
their respective annual budgets; and
3. the employees of
the Dubai Investment Development Agency and the Dubai Industry and Export
Development Corporation. These employees will retain their existing rights.
b.
The DEDC hereby succeeds to all rights and obligations of the
Dubai Investment Development Agency and the Dubai Industry and Export
Development Corporation.
The DEDC must coordinate with
the concerned entities in the Emirate to achieve compliance with the provisions
of this Law within no later than three (3) months from the date on which this
Law comes into force. The Chairman of the Executive Council may, where
required, extend this time limit for the period he deems appropriate.
With the exception of the
resolutions which the Chairman of the Executive Council is exclusively
authorised to issue under this Law, the Director General will issue the
resolutions required for implementing the provisions of this Law. These
resolutions will be published in the Official Gazette of the Government of
Dubai.
a. The
above-mentioned Law No. (16) of 2013 and Law No. (3) of 2021 are hereby
repealed. Any provision in any other legislation is also hereby repealed to the
extent that it contradicts the provisions of this Law.
b. The bylaws,
resolutions, and instructions issued in implementation of the above-mentioned
Law No. (16) of 2013 and Law No. (3) of 2021 will continue in force, to the
extent that they do not contradict this Law, until new superseding bylaws,
resolutions, and instructions are issued.
This Law will be published in
the Official Gazette and will come into force on the day on which it is published
Mohammed bin Rashid Al Maktoum
Ruler
of Dubai
Issued in Dubai on 6
February 2023
Corresponding to 15 Rajab 1444 A.H.
©2023 The Supreme Legislation Committee in the
Emirate of Dubai
[1]Every effort has been made to produce an
accurate and complete English version of this legislation. However, for the
purpose of its interpretation and application, reference must be made to the original
Arabic text. In case of conflict, the Arabic text will prevail.