Dubai Passes Law to create a Free Zone Council

Dubai’s ruler, Mohammed bin Rashid Al Maktoum, recently announced the issuance of two new decrees concerning the creation of Dubai Free Zones Council.

The purpose the Dubai Free Zones Council is to enhance the progression and development of the emirate’s free zones. The council will work towards increasing investment inflows and promoting knowledge exchange and coordination amongst Dubai’s free zones. One of the council’s tasks is to develop and plan a strategy concerning the emirate’s free zones. The council has also been called to reevaluate the free zone legislation.

Dubai is home to many free zones such as the Dubai Multi Commodities Centre (DMCC), the DIFC as well as the Dubai Airport Free Zone (DAFZA). All Dubai-based free zones offer numerous business benefits including exemptions from import and export duties and corporate tax.

The Chairman of the Dubai Free Zone is Ahmedbin Saeed Al Maktoum, which is also the Chairman of the Emirates Group as well as the Chairman of Dubai Civil Aviation Authority.

The Dubai Free Zone Council is made up of esteemed officials including, the CEO of the Dubai Aviation City Corporation, the Director General of the Dubai Creative Clusters Authority, the Secretary General of the Dubai Free Zone Council, the Director General of the Dubai World Trade Centre Authority (DWTCA), the Chairman of Meydan City Corporation, the Governor of the Dubai International Financial Centre (DIFC) and the Chairman of the Ports, Customs, and Free Zone Corporation (PCFC).