New plan announced in Dubai for sustainability of family businesses for 100 years

A new plan that has been notified in Dubai that strives to enhance the sustainability of family businesses for the next hundred years.

A new plan that has been notified in Dubai that strives to enhance the sustainability of family businesses for the next hundred years.

As part of this plan, family businesses will be provided with all the required tools to allow them to contribute towards the economy and the future of the United Arab Emirates (UAE). This agenda will witness Dubai issuing a unified law for the sustainability of family businesses that follows all requirements of law.

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A ‘Dubai Centre for Family Businesses’ will be launched as a central entity that is responsible for giving out all services that assure sustainability. It will establish four practical legal systems for the management of family businesses and will also establish a centre for handling family conflicts through mediation and arbitration.

The agenda came as Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, led a meeting of the Dubai Council.

The council also declared the formation of a ‘Higher Committee for Development and Citizens Affairs’, which will be headed by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai.

The committee will be focusing towards assuring the condition of advanced as well as integrated services to citizens, in addition to establishing and approving a number of broad initiatives.

In the meeting, Sheikh Mohammed led the formation of a higher committee to look over all future technological developments in the digital economy. He directed the committee to form the Dubai Metaverse Strategy in the coming two months.

His Highness stated about the agenda through his official Twitter handle, “We also authorised the Infrastructure Commissioner, Mattar Al Tayer, to create an integrated plan for the development of the countryside and wilds of Dubai, like Al Habbab, Al Faqa, Al Marmoom, Al Lisaili and others and changing them into development areas and well-known tourist and cultural destinations and upgrading their services, along with involving their people to take advantage of the economic opportunities that they will provide.”

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