Decks cleared for flexible legislation

MOVE AIMS TO ENSURE PROJECTS OF FUTURE CAN COPE WITH DISRUPTIVE TECHNOLOGIES

The Supreme Legislation Committee (SLC) in collaboration with Dubai Future Foundation has developed a new initiative that aims to create flexible legislation that is adaptable to future needs.

The ‘Soft — Open Flexible Legislation’ was launched by Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Board of Trustees of the Dubai Future Foundation, along with several other ‘Dubai 10X’ initiatives, during the sixth edition of the World Government Summit held in February 2018. The initiatives’ main mission is to place Dubai ten years ahead of other cities in the world.

The Supreme Legislation Committee is the first interactive legislative platform in the world to enable the trade, business and finance sector to participate in the formulation of commercial, economic, and financial legislation.

The initiative is one of 26 projects submitted by 24 government entities in Dubai, which were approved by Shaikh Hamdan.

Ahmad Saeed Bin Meshar Al Muhairi, Secretary General of the Dubai Supreme Legislation Committee, said that the initiative aims to create a system for soft, open and flexible legislation that caters to the commercial sector. With the emergence of disruptive technologies and the onset of the Fourth Industrial Revolution, there was a need for new legislative practices and projects that can accommodate these developments and create a flexible environment for the incubation of future projects.

Innovation impetus

“This project will allow the legal system to operate in a dynamic manner and harness new technologies and ideas for businesses and industries in the future. It will enable the private and business sector to implement future projects using technology and innovative thinking, which will support the creation of new industries and markets, increase foreign investment, and attract thinkers and innovators,“he said.

Al Muhairi said the committee is working on a project in cooperation with a number of strategic partners, including Department of Economic Development, Dubai Chamber of Commerce and Industry, Dubai Municipality, Dubai Courts and Dubai Smart Government. The project will be implemented within a timeframe of two years in five stages that include preparation, design, training, testing release and activation.