The World Trade Center of Dubai announced a reduction in fees for obtaining licenses and registration of up to 70% when contacting the administration of the World Trade Center or OneWorldCentral. It is planned, that such an initiative will provide competitive opportunities that will attract foreign direct investment, and also ncrease the contribution of the private sector to Dubai’s GDP. Such solutions fully comply with the government’s instructions to reduce the cost of doing business and increase the attractiveness of Dubai for global investment.
Such economic initiatives of the UAE demonstrate the strength and sustainability of the state economy, which can be characterised as flexible and open. Commercial offers of the World Trade Center of Dubai are developed in accordance with the general strategy of the state to reduce fees, which in turn will help reduce the cost of doing business for the private sector, and also creating a viable ecosystem. Such an ecosystem will be able to ensure a sustainable long-term success of the economy, and attract regional and global companies to Dubai to open their representative offices and conduct business here.
After analyzing the fees of the World Trade Center of Dubai, it was decided to reduce registration fees and fees for issuing licenses for 50-70%. And the cost of services related to immigration will be reduced by 40-50%, according to the scale of the company’s business activities. Such significant reductions in licensing fees and registration are also in line with the recently approved decisions of the Dubai Executive Council to adopt multidirectional measures that together will enhance the emirate’s competitiveness and facilitate business in the frieze of the Dubai World Trade Center.
At the moment, the UAE occupies the 17th position out of 137 in the country’s competitiveness ranking. It should be noted here, that the UAE improved its position by 7 lines, from 2012-2013. At the same time, the state traditionally receives high scores for the developed infrastructure, quality work of institutions, the efficiency of the commodity market and the labor market, and also for the level of business development.