The Dubai Department of Economic Development (DED) and Dubai Silicon Oasis Authority (DSOA) have signed a co-operation agreement to unify reservation procedures for trade names to avoid their duplication across the emirate. As per the agreement, DED will provide DSOA with a copy of its licensing system that records trade names and link them to the Department electronically. DED will also monitor all phases of installing and operating the system. DSOA will assign one of its staff members to be trained by DED on how to use the licensing procedures related to trade name registration. DSOA will ensure that the trade names are not duplicated or are very similar to others before granting the preliminary approval. His Excellency Mr Sami Al Qamzi, Director General, DED, and His Excellency Dr. Mohammed Al Zarouni, Vice Chairman and CEO of Dubai Silicon Oasis Authority, signed the agreement. Officials from DED and DSOA attended the signing ceremony held, recently, at DED headquarters in Deira. “The cooperation agreement comes in line with DED’s directives of achieving the vision of Dubai Government in further developing the various economic sectors and providing a competitive investment climate to attract local and foreign investors to do business in Dubai. DED will assist investors by co-ordinating with other government departments and authorities in achieving our objectives,” said Al Qamzi. “Trade names are the most important aspect of any business and have a strong role to play in the success of the business. We are pleased to sign the agreement with DSOA, which will contribute in enhancing the level of services provided to customers by creating a streamlined and unified system for registration of trade names,” added Al Qamzi. Dr. Zarouni said: “The agreement with DED will play a crucial role in unifying the registration procedures for trade names, which are the driving forces of any business. By having a unified approach, the granting of trade names will become a much easier and swifter process, which will benefit all of our clients’ businesses.” “We are determined to strengthen our business functions at Dubai Silicon Oasis and ensure that all our operational and procedural functions are carried out at an optimum level. This is part of our endeavour to uphold our status as a leading technology hub in the region, seeking to offer seamless services, support, and assistance to our clients and business partners. Consequently, we are delighted to enter into this strategic partnership with the Dubai Department of Economic Development and are looking forward to a long-term partnership,” added Dr. Al Zarouni. As per the agreement, DED will authorise the use of its data licensing system to DSOA to record trade names. DED will also facilitate procedures related to licensing, registration, renewal or cancellation of companies licensed by DSOA. -ENDS- Note to Editors: About Department of Economic Development (DED): The Department of Economic Development (DED) was established in March 1992, with the objective to organise, regulate and boost trade and industry within the Emirate of Dubai. The DED has moulded its mission of building a futuristic establishment, in accordance with the vision of the Government of Dubai and in the light of globalisation and the requirements of a digital economy. One of its key functions is to encourage local and foreign investments in commercial and industrial projects, and create the appropriate environment for investors. The DED’s other functions comprise a wide range of regulatory activities including the preparation and maintenance of a commercial register and the supervision of all organisations. The DED is responsible for regulating the affairs of commercial agents and brokers and commercial advertising offices, in addition to overseeing and controlling the insurance industry in the Emirate. Examining the participation of the government in the private sector and representing the government in companies where it has a stake, also comes under the purview of the DED. About Dubai Silicon Oasis Dubai Silicon Oasis Authority (DSOA), a 100% owned entity by the Government of Dubai is a free zone, strategically placed on the Emirates road. DSOA’s urban master-planned community spans 7.2 square kilometers of state of the art office towers, R&D and industrial zones, educational institutions, luxury apartments, villas, hotels, healthcare and a full range of lifestyle facilities which translate into a dynamic commercial and social environment. Businesses can flourish under the unrivalled package of incentives, including 100% ownership, and high end IT infrastructure that allows companies to begin operating immediately.
