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The Department of Economic Development (DED) was established in March 1992, with the objective to organize, regulate and boost trade and industry within the Emirate of Dubai.
In October 2008, HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Prime Minister and Vice-President, and Ruler of Dubai, issued Decree no. 25 giving full responsibility to DED to plan and regulate the overall economic performance of Dubai, supervise its functions and support the economic development to ensure the objectives of the Dubai Strategic Plan are achieved.
The new mandate brought about a new leadership with a new vision for the DED.
DED is still responsible for its traditional activities of business registration, licensing and commercial protection in Dubai however with four new agencies now under the umbrella of DED, the mandate has extended to include export development, retail development, entrepreneurship development and foreign investment.
The development of these sectors is the responsibility of DED’s agencies: Dubai Export Development Corporation, Mohammed Bin Rashid Establishment for Young Business Leaders, Dubai Shopping Festival Office and the Foreign Investment Office.
The Department of Economic Development (DED) was initiated with a mission to contribute to economic planning and business sector regulation by recommending policies and preparing development programmes and projects by developing the best resources possible.
The three goals of the Department of Economic Department are:
1. Contributing to achieve Dubai Government’s vision and developing the different economic sectors.
2. Prepare a competitive investment environment to attract local and foreign investment and organizing the business sector according to best practices.
3. Provide the best human, financial and technical resource and supportive environment for creativity and excellence.
Law No. 13 of 2011 states that the Department of Economic Development will be the body responsible for the regulation of economic activity for all businesses outside the free zones. DED’s responsibilities include licensing, classification of economic activity permitted within Dubai, issuing trade permits for marketing activities and setting business work hours. The law also establishes a one-window system with a single portal managed by DED for issuing licenses to businesses and dealing with investors.
Bari and Co Ltd Corporate services provider in UAE, proudly says that you can contact us if you are interested to have setting up a business in Dubai, discuss with us various business structures that can be considered when setting up a business, we advise you step by step.
If you have an existing license, we will assist with any changes you may need to make to that license, assistance on how to go about cancelling your license