National laws and policies continue to attract foreign investment to the UAE

DUBAI: The city’s judiciary convened at the Dubai Courts’ headquarters today for a conference aimed at strengthening the global competitiveness of the U.A.E.. The conference forms part of a collaborative effort between the Courts and the Emirates Competitiveness Council (ECC).

With an agenda focused on the impact of global trends on the legal framework of the U.A.E., the event was attended by the country’s top lawyers, judges and advisors.

Attendees were led by Head of the Court of First Instance, Judge Jassem Baqer and Secretary-General of the ECC, Abdullah Nasser Lootah. The programme plays an important role in enabling the U.A.E. to fare positively on a global basis.

One indicator of the efficacy of this drive is the World Bank’s annual report that evaluates countries based on the ease with which they conduct business. Thus, the conference was aimed at shedding light on the competitive nature of such reports and the measures that need to be taken in order to succeed within them.

The event was organised in line with the U.A.E. Vision 2021 set out by Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum. His Highness himself launched the U.A.E.’s National Agenda for the coming seven years leading to 2021, the calendar year which will mark the U.A.E.’s Golden Jubilee.

The National Agenda stipulates objectives and projects in the sectors of education, healthcare, economy, police and security, housing, infrastructure and government services. The Agenda placed particular emphasis on the U.A.E. being ranked the world leader in transport infrastructure by land, sea and air, and enjoying similarly exalted status in ease of doing business.

Conference discussions focused on the observations of three working papers presented at the event. The first paper, entitled U.A.E.’s Competitive Edge’, presented by Abdullah Nasser Lootah, revolved around an abstract from the Doing Business index.

With regard to this, Lootah stated, “We are mostly interested in the ease of doing business index, which demonstrates the strong performance of the U.A.E.. Compared with other countries, our nation occupies high rankings in the thirteen reports the World Bank relies on to determine the countries’ rankings in the Global Competitiveness Report. The U.A.E. works continuously to facilitate the establishment of businesses in the shortest time period possible, with simple steps and at a reasonable cost.” Lootah continued, “Ranked first in the Arab world, the U.A.E. continues to advance year after year, and is now approaching being ranked in the world’s ten best governments. The country will take advanced steps upon issuance of the Bankruptcy Law, which will deal with insolvency and restructuring cases.” The second paper was on the achievements of Dubai Courts in elevating the global rank of the U.A.E. in the index’ topics, and was presented by Hamad Thani Matar, Head of International Excellence at Dubai Courts.

Dubai Courts’ Legal Advisor, Kareem Al-Jbaili, presented the third working paper, which focused on his positive experience in replying to questionnaires and meeting the requirements of the World Bank’s Doing Business index.

Al-Jbaili emphasised the importance of private sector engagement in strengthening the U.A.E.’s competitiveness. He stated that lawyers and legal advisors play a pivotal role in delivering information to the World Bank about procedures followed within the U.A.E. to establish a business.

The conference concluded with a wide-ranging discussion involving all attendees. They anticipated a promising future, particularly in light of the U.A.E.’s transition towards Smart Government. It further concluded that this will assist in easing procedures and reducing time, efforts, and costs, potentially enhancing the country’s already lofty ranking in the Doing Business index, and thus achieving an advanced ranking for the U.A.E. in the Global Competitiveness Report.

SOURCE: WAM