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Dubai: With instant utilities, telecom services business becomes easier in the emirate

The D33 agenda empowers SMEs and investors with swift banking and other solutions

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by

Waheed Abbas

Published: Thu 17 Oct 2024, 5:09 PM

Doing business in Dubai has become easier as small and medium enterprises (SMEs), investors and freelancers can open bank account within 72 hours of their application, and almost instantly have access to telecom, utility and financial services.

Dubai Business Registration and Licensing Corporation (DBLC), part of the Dubai Department of Economy and Tourism (DET), has tied up with eight entities in the UAE to extend services offered under the Dubai Unified Licence (DUL).

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DBLC has partnered with five banks — Emirates NBD, Dubai Commercial Bank, First Abu Dhabi Bank (FAB), ruya Bank and Emirates Development Bank (EDB) — to streamline the bank account opening process for small and medium enterprises (SMEs) and investors in Dubai.

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Similarly, UAE’s second telecom services provider, du, will speed up the set-up process for SMEs and investors. Businesses can now also take advantage of Arab Financial Services’ suite of fintech products and access utilities through Dubai Electricity and Water Authority (Dewa) through their Dubai Unified Licence (DUL).

These new initiatives are part of the government's ambitious goals of the Dubai Economic Agenda, D33, which aims to double the size of Dubai’s economy by 2033 and further consolidate Dubai’s position as a leading global city for business and leisure.

This was announced at the Gitex Global technology exhibition at the Dubai World Trade Centre.

Additionally, businesses can now use their DUL number to acquire business-related services from government and private entities in a quick and more efficient manner. There are more than 600,000 total active DULs across Dubai within mainland and free zones.

“The launch of the DUL project last year has proven to be beneficial in streamlining interactions between economic establishments, government bodies and service providers, making data exchange and regulatory compliance more efficient and transparent. These new strategic alliances we have formed with service providers, as part of the DUL initiative, serve as a significant step to further enhance the investor journey in Dubai and facilitate business procedures,” said Ahmad Khalifa AlQaizi AlFalasi, CEO of DBLC.

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Waheed Abbas

Published: Thu 17 Oct 2024, 5:09 PM

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