Emirates: A new economic zone authority will be established in Dubai, based on a law issued on Monday by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

The new Dubai Integrated Economic Zones Authority — an independent legal entity with financial and administrative autonomy — will be supervising the operations of the Dubai Airport Free Zone, Dubai Silicon Oasis and Dubai Commerce City, according to Law No. (16) of 2021.

Sheikh Ahmed bin Saeed Al Maktoum has been appointed chairman of the authority and Dr Mohammed Ahmed Al Zarouni as executive chairman.

The new law and appointment decrees will be published in the Official Gazette and are effective from January 1, 2022.

Sheikh Mohammed bin Rashid said the creation of the Dubai Integrated Economic Zones Authority was part of the emirate’s efforts to raise the speed and efficiency of services for businesses and investors. This, in turn, will help accelerate economic growth.

“The establishment of the Dubai Integrated Economic Zones Authority is a vital move to enhance Dubai’s global competitiveness and raise its investment attractiveness,” the Dubai Ruler said.