Dubai World Trade Centre declared as a free zone

Dubai World Trade Centre joins the ranks of Free zones in Dubai. The announcement was made by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, thus making it possible for the Dubai World Trade Centre Authority (DWTCA) to act as an incorporated public body with financial, administrative and legal independence. End Quote

(1888PressRelease) June 19, 2015 - Dubai :HH Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai has issued a new law that establishes the Dubai World Trade Centre as a free zone. The DWTC free zone limits cover the current and upcoming facilities at the Trade Centre Roundabout along with the Dubai World Trade Centre at Jebel Ali.

According to WAM, the official news agency, this move is meant to enhance Dubai's stance as a global business destination and the centre for both regional and international conferences and trade shows. The free zone will also play host to commercial and trade establishments, attracting local and international investments.

Now, Dubai World Trade Centre Authority (DWTCA), as part of Investment Corporation of Dubai, can act as an incorporated public body with financial, administrative and legal independence. It can establish and invest in companies, both jointly and separately and involve itself in buying, renting and taking possession of movables and immovable money, investing such money duly. The DWTCA will also work with other free zones to ensure the ease of transactions between DWTC's companies and the free zones.

Sheikh Ahmed, chairman and CEO of Emirates Group acts as the vice chairman of the board of directors at DWTCA with Butti Saeed Al Kindi as second vice chairman and Ziad Abdulla Galadari, Abdullah Mohammed Rafee, Khalifa Saeed Al Zaffin, Saud Ibrahim Obaidallah and Abdulrahman Mohammed Rashid Al Sharid as members of the board.

Thinking of a business setup in dubai: http://www.worldwideformations.com/freezone-incorporation.php

###

space

Other Related Press Releases