His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Civil Aviation Authority, President of Dubai Airports, and the Group Chief Executive of Emirates Airlines, led the 33rd meeting of the Dubai Free Zones Council.
In a post on X, His Highness highlighted: “We focused on enhancing the integration of government efforts, improving regulatory readiness, and continuously developing the business environment within the free zones.”
He added: “Our discussions included initiatives aimed at improving investor experience, proposing the establishment of a unified platform for the free zones, and advancing Dubai’s cashless strategy. Additionally, we reviewed the 40-year success story of the Jebel Ali Free Zone (JAFZA) and its significant role in solidifying Dubai’s position as a global hub for trade and logistics.”
The Dubai Free Zones Council convened under the leadership of His Highness, who emphasized priority topics aimed at enhancing governmental collaboration, developing the business environment, and elevating regulatory readiness to meet forthcoming requirements.
In the meeting, attended by senior officials from Dubai, the council explored methods to strengthen cooperation to support integrated efforts, facilitating operations within the free zones to improve investor experiences and streamline procedures.
The council recognized the importance of collaborative partnerships in various initiatives aimed at regulating the labor sector and simplifying relevant policies and procedures, including the “Events Visa” initiative that benefited major companies in the free zones.
The council also acknowledged the substantial positive impact of assigning 71 employees to work around the clock within the free zones, a move that significantly accelerates transaction completion, streamlines operational requirements, and supports business continuity while enhancing service readiness.
Integrated System
The council discussed a proposal for establishing a unified platform that serves all free zones within an integrated system, facilitating procedural uniformity, enhancing institutional coordination, and improving the competitiveness of the business environment in Dubai.
The council was informed about the Dubai Cashless Strategy from the Finance Department of Dubai’s government, aimed at bolstering coordination in digital payment initiatives and aligning with the objectives of the cashless strategy, focusing on expediting the shift towards a comprehensive digital transaction system.
Further discussions included enhancing compliance and improving the readiness of the free zones in light of coordination efforts related to the assessment of the Financial Action Task Force (FATF), aimed at conducting a systematic evaluation of money laundering and terrorism financing risks.
The council considered these factors for all activities and legal entities to implement necessary due diligence measures to mitigate risks and their impacts, additionally highlighting the challenges related to banking account openings for licensed companies as presented by the Dubai Economic Security Center.
A strategic move is underway to develop a set of standards for risk classification and alignment among involved parties to address challenges with banks in the UAE, which is expected to foster institutional collaboration among stakeholders, facilitate business operations, and simplify the banking account opening process for companies while minimizing risk related to these crimes.
During the celebration of the JAFZA’s 40 years of achievements, the Chairman and council members expressed their appreciation to Sultan Ahmed bin Sulayem, Chairman of the Ports, Customs and Free Zone Corporation, and his team for the accomplishments of the Jebel Ali Free Zone in establishing Dubai as a global opportunity platform and preparing for future development, driven by its leading institutions and remarkable achievements over four decades.
JAFZA has a history marked by dedication and leadership since its establishment, serving as a pioneering model and playing a central role in reinforcing the emirate’s status as a global center for trade and logistics, supporting economic diversification, and expanding the investment landscape. It remains a crucial pillar of Dubai’s developmental journey, combining innovation with comprehensive services and land, sea, and air connectivity.
His Highness stated:
We aim to enhance government collaboration, raise regulatory readiness, and continue developing the business environment.
“JAFZA” has solidified Dubai’s reputation as a global center for trade and logistics.
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The council discussed ways to support the business environment and elevate regulatory readiness.
Aligning governmental efforts to expedite the transition towards a complete digital transaction system.
The assignment of 71 employees working around the clock in the free zones has had a significant positive impact.