Mohammed issues law on Economic Council

dubai — His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has issued Law No 03 of 2017, transferring the responsibilities of the Dubai Economic Council, as prescribed in Law No 28 of 2007, to Dubai’s Department of Economic Development (DED).

Pursuant to the new Law, employees of the Dubai Economic Council will be transferred to the DED without prejudice to their vested rights.

Law No 03 of 2017 aims to support the economic decisionmaking process, encourage the business environment in Dubai, involve the private sector in the process of developing public policies through the Dubai Chamber and the DED, promote partnership between public and private sectors to boost economic growth and enhance international competitiveness.

The new Law annuls Law No 28 of 2007 on the Dubai Economic Council and any other legislation that contradicts or challenges its articles. The chairman of the Dubai Executive Council may issue the required bylaws to implement the new law, which is valid from the date of its publication in the Official Gazette.

The new law contributes to maximising the benefits obtained from available resources. — Wam