In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, issued Laws No. (5), (6) and (7) of 2023 establishing three new subsidiaries of Dubai’s Department of Economy and Tourism (DET).
The new subsidiaries will seek to enhance key economic growth drivers including business attractiveness, development initiatives, ease of doing business, consumer protection and sectoral governance.
The new subsidiaries include the Dubai Corporation for Consumer Protection and Fair Trade, established under Law No. (5) of 2023; the Dubai Business Licence Corporation (DBLC), established under Law No. (6) of 2023; and the Dubai Economic Development Corporation (DEDC) established under Law No. (7) of 2023. The three laws are effective from the date of their publication in the Official Gazette.
The move supports DET’s mandate of supporting the goals of the Dubai Economic Agenda D33 launched by His Highness Sheikh Mohammed bin Rashid. Announced in January this year, D33 aims to double the size of the emirate’s economy and consolidate its position as one of the world’s top three cities.
The DBLC will be the sole authority responsible for monitoring compliance with procedures, measures and controls related to the investor journey and regulating economic activities in the emirates, including its free zones. To fulfil its mandate, the Corporation is authorised to develop comprehensive plans, policies and strategic frameworks for economic activities, procedures for registering and licensing economic establishments; develop policies for licensing professional businesses in line with legislations, streamlining licensing procedures for economic establishments in Dubai and registering them in the commercial registry.
The Dubai Corporation for Consumer Protection & Fair Trade is also tasked with developing plans and policies related to fair trade and competitiveness and protection of consumer rights. The new subsidiary will develop programmes and initiatives to protect intellectual property rights, review and resolve complaints filed by commercial establishments and consumers, and organise awareness campaigns to promote consumer rights, fair trade and fair competition.
