Dubai Chamber held its last quarterly meeting of 2021
The Dubai Chamber recently organised its latest quarterly 2021 meeting with business groups and business councils that operate under the Chamber’s umbrella as part of its mission to represent, support and advocate for Dubai’s business community.
During the meeting, the Chamber reviewed the emirate’s economic landscape, growth prospects and investment opportunities, and updated the private sector on the latest legislative and regulatory developments.
The meeting provided a platform to engage with the business community and exchange views on the latest economic developments, identify challenges faced by the private sector, make recommendations to relevant government bodies, and explore future investment opportunities.
H.E. Hamad Buamim, President and CEO of Dubai Chamber, elaborated on these issues in his speech and noted that recent legislative changes will play a key role in enhancing the UAE’s competitiveness, as they cover a wide range of issues, such as the Personal Data Protection Law and amendments to the Electronic Transactions and Trust Services Law.
He also added that 2021 was a transformational year in which we not only brought business back on track, but also achieved an impressive financial performance under our wise and visionary leadership, as part of Dubai’s broader strategy to double the size of the financial market to Dh3 trillion (US$816.7 billion).
H.E. Abdullah Al Nuaimi, Assistant Undersecretary for Communications and International Relations, Ministry of Human Resources and Emirates (MoHRE), stressed the Ministry’s commitment to empower entrepreneurship and support the private sector to achieve inclusive and sustainable development.
During the meeting, Al Nuaimi outlined the most important features of the Federal Employment Relations Regulation Decree-Law, which will come into force from 2 February 2022.
The new law aims to ensure labour market efficiency, enhancing its ability to attract and retain talent, while at the same time providing a stimulating work environment, flexibility, sustainability, ease of doing business and productivity through the use of local and global talent, thus making the labour market more competitive. He stressed that the new law is balanced and gives equal protection and rights to both parties.
Ahmed Mohammed Al Naqbi, CEO of the Emirates Development Bank, spoke about the bank’s strategy and efforts to support the UAE business sector, especially SMEs, as well as the financial solutions it provides to the business community.
Nadimeh Mehra, Vice President of District 2020, spoke about how 80% of the Expo area will be used to create a mixed-use complex consisting of commercial, residential and cultural areas that will be an ideal place to live, work and explore with a focus on sustainability, balance and a healthy lifestyle.
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