The Dubai Department of Economic Development (DED) and Ajman Economic Department (AED) recently signed a memorandum of understanding (MoU) to enhance the UAE’s investment environment. The initiative is part of joint efforts to further strengthen the national economy and accelerate foreign direct investment to the UAE.

The MoU covers co-operation in the fields of eServices implementation, economic studies, inspection, commercial compliance and consumer protection and international relations, in addition to areas of the strategic plan, quality and excellence.

Ali Ibrahim, Deputy Director General for Planning and Development Affairs at DED, and Mahmoud Khalil Al Hashmi, Deputy Director General of Ajman Economic Department, signed the MoU. Officials from DED and Ajman Economic Department attended the signing ceremony.

As per the MoU, the two organisations will coordinate on choosing trade names and the extent of their compliance with the terms and conditions applicable to them as well as the issuance, renewal and cancellation of business licenses. They will work on linkage of businesses in coordination with other relevant bodies, also share information on any legislation or policies.

The two parties will also co-ordinate in identifying and proposing activities and common themes to facilitate access to activities and information as and when required, and the exchange of electronic reports on economic studies.

They will also identify areas of cooperation to achieve common goals and exchange information pertaining to international relations. DED and AED will work to encourage the development of UAE’s exports, explore potential for participation in local and international events, and jointly cooperate to attract foreign investment. They will also coordinate in the inspection, commercial compliance and consumer protection procedures.

Ali Ibrahim, said: “We are pleased to sign the agreement with Ajman Economic Department, which will contribute to enhancing the level of services provided to customers by exchanging expertise and information to raise the level of services and keep pace with the rapid development of the emirate. The agreement is an example of the strong commitment of business and government organisations in Dubai to work together to raise the UAE’s stature as a global investment destination.”

“Ajman Economic Department is focused on the comprehensive development of its activities and services. Our cooperation with DED will enhance the level of performance as per international best practices,” said Al Hashmi. “We are committed to strengthening business growth, and will exchange information with DED to further enhance the investment environment of the UAE.”

The MoU stipulates on exchanging and unifying economic studies, holding joint seminars, building direct channels of communication. Both organisations seek to improve communication, exchange visits and adopt best practices in the training of the concerned staff, in addition to developing the administrative capacities in the financial, communication and human resources.
 

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