How is Dubai’s approach to sandboxes and regulation supporting innovation and the growth of an internationally competitive digital economy?

Dubai’s regulatory framework has the agility and responsiveness to evolve with a dynamic and ever-changing environment. The emirate is pioneering a PPP (Public-Private Partnership) approach to regulation-backed innovation by talking directly to industry leaders and implementing policies that support their needs.

Dubai Future Foundation’s “Regulation Lab” is a one-of-a-kind platform dedicated to providing an environment that encourages the adoption of new technologies, as well as testing innovative solutions. The Lab brings law and policy makers together with academia, scientists, entrepreneurs, and business leaders to help redefine the regulatory landscape to enable innovation and create a reliable and transparent legislative framework that supports future innovation, advanced technology, and emerging business models.

How does Dubai Chambers help companies with the implementation of Corporate Tax?

Dubai Chambers has held a series of workshops and webinars to help the business community understand the impact of the introduction of corporate tax on business profits, as well as how to ensure full compliance with all applicable requirements. Meeting legal obligations under UAE laws is critical to ensuring we maintain a healthy business environment for our members in Dubai.

Dubai Chamber of Commerce recognises and welcomes the new tax regime, which heralds a new era in the parity of the global taxation framework. The UAE’s corporate tax enhances global economic competitiveness and provides the national economy with the flexibility to support international financial systems.

The introduction of corporate tax represents a significant step in the UAE’s drive to modernise its tax system and accelerate economic diversification. At the national level, the new tax will deliver a predictable government revenue stream that can be reinvested into the continued development of the country. Tax revenues will be used to build infrastructure, support vital projects, and help fund the UAE’s work towards achieving the objectives of the UN’s Sustainable Development Goals.

How does Dubai Chambers contribute to the economic aims under the Dubai Global initiative?

The ‘Dubai Global’ initiative was launched by Dubai Chambers to attract foreign investment, talent, and new business to Dubai. The initiative aims to reinforce the emirate’s status as one of the world’s leading commercial hubs, while also enabling Dubai companies to expand their business in 30 priority markets overseas. In line with its strategic objectives of maximising business opportunities in these markets and unlocking the emirate’s business benefits, Dubai Global will establish 50 integrated commercial representative offices across five continents by 2030.

Led by Dubai Chambers, Dubai Global creates a worldwide network to support the expansion of Dubai businesses into emerging markets from its dynamic base in the emirate. Supported by strategic public and private sector partners, the initiative accelerates efforts to boost Dubai’s non-oil foreign trade from AED 1.4 trillion to AED2 trillion by 2026, as part of the emirate’s five-year foreign trade plan. Dubai Global aims to attract foreign MNCs, SMEs, investors, and international talent to Dubai by showcasing the emirate’s competitive advantages, sharing investment intelligence, and strengthening engagement with overseas stakeholders.