Nov 20, 2016

Dubai: His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, last week issued a new law related to Dubai Small and Medium Enterprises (DSME).

The new law amends DSME objectives to include putting in place policies and strategic plans for entrepreneurship and setting up projects, as well as offering programmes and initiatives that are improved regularly to ensure the development of said projects.

It will be responsible for creating a suitable environment that offers investment opportunities for projects in the private and public sector. DSME will be tasked with studying the state of established projects and identifying key obstacles that obstruct their growth.

The amendments stipulate that entrepreneurs from the Gulf Cooperation Council (GCC) countries will be treated the same as Emiratis, and will be licensed as members as per DSME terms and conditions.