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Dubai Crown Prince and Chairman of The Executive Council of Dubai H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said the continuous development of the emirate’s legislative framework is crucial to the achievement of Dubai’s strategic objectives. The enhancement of the legal framework is a vital element in enhancing the growth prospects of various sectors, he stressed.

"As part of implementing the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to accelerate economic development and promote investments, Dubai places high importance on creating an integrated legislative infrastructure that facilitates equal opportunities for public and private sectors. We are keen that the private sector plays a major role in shaping the future of the national economy and achieving sustainable development. A legislative framework that protects their interests is critical to their growth and success," he said.

"We do not want to be a competitor to the private sector, but rather seek to complement it. The partnership between the public and private sectors adds significant value to Dubai’s sustainable development," he added.

Sheikh Hamdan’s comments came as he issued Executive Council Resolution No. (23) of 2020 on the terms, conditions and regulations governing the establishment of companies by Dubai Government entities. The Resolution standardises procedures for establishing government-owned companies in line with international best practices. It seeks to encourage investments in various sectors and ensure strong governance at government-owned companies.