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DED & SEDD Sign Strategic Partnership To Strengthen Investor Confidence In The UAE

The Dubai Department of Economic Development (DED) and Sharjah Economic Development Department (SEDD) have signed a Memorandum of Understanding (MoU) to co-operate in relevant fields, enhance the level of services provided to customers, and exchange expertise and information to attract foreign investment.

Their Excellencies Sami Al Qamzi, Director General, DED, and Ali Salem Al Mahmoud, Chairman of SEDD, signed the MoU at the DED headquarters in the Business Village, Dubai. The two parties will co-ordinate and review their respective strategic plans to identify areas of co-operation and work towards achieving common goals.

"The Department of Economic Development in Dubai is steadily expanding cooperation with public and private sectors as strategic partners in the overall development process. It is part of our strategy to promote economic growth and cement Dubai’s position among the leading global commercial and economic centres. We are confident that the MoU with Sharjah Economic Development Department will bring substantial benefits and help us achieve our shared goals," said Al Qamzi.

Al Qamzi added: "Partnerships like this have the support of the leadership in Dubai and the UAE as they will contribute to achieving integration between government institutions and promote investor confidence in the UAE, thereby bringing in more foreign investment."

The SEDD Chairman said: "The partnership with DED is part of our strategic plan to strengthen co-operation with all federal and local departments and institutions to advance public services and provide more facilities for customers across all our departments. The agreement will greatly enhance the work of the two departments for the benefit of the UAE and its citizens."

Al Mahmoud reaffirmed SEDD’s keenness to enhance communication with DED and other departments in the UAE to achieve its strategic goals of enhancing customer satisfaction and economic development.

As per the agreement, the two parties will develop a mechanism for electronic exchange of information including trade names and ways of choosing them, renewal and cancellation of trade licenses and linkage of companies, in addition to sharing economic data and studies and co-operating on policies, legislation, seminars and investment promotion activities.

The two departments will also co-ordinate on inspection and compliance procedures electronically, share observations and unify definition on violations if possible. It has also been agreed to exchange information pertaining to international relations and collaborate in export promotion and development as well as participation in local and international events.

The MoU also has provisions for mutual office visits, joint meetings and co-operation on strengthening internal capacity in the financial, communication and human resources administrations.

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