Dubai’s legal system improves competitiveness

Dubai’s legal system gives foreign investors confidence and supports emirate’s competitive business environment, said senior officials on Tuesday.

Dr. Ahmed bin Hazeem, Director General, Dubai Courts, said Dubai’s legal system not only contributes to providing stability necessary for the development of trade but also helps in attracting global investors to the emirate’s safe business environment.

He was speaking at a CEO roundtable on the current trends in the Emirate’s legal system organised by Dubai Chamber of Commerce and Industry.

The roundtable was organised in light of the Dubai Government’s allowing businesses to use the English language Dubai International Financial Centre (DIFC) Courts for resolving local and international business disputes.

In his welcome address, Hisham Al Shirawi, 2nd Vice-Chairman, Dubai Chamber, said that the landmark decision by His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice-President and Prime Minister and Ruler of Dubai, reflects the emirate’s efforts in providing a world-class and diverse legal environment to all its investors and business people alike.

“This new decree opens the jurisdiction for commercial cases to be heard at the DIFC Courts. The introduction of the common law system which follows the English language is welcomed by the international business community who can expect clarity and transparency,” said Al Shirawi.

He added, “The availability of this community-focused approach to an efficient and fair justice system will go a long way in
restoring confidence in the investors while also making Dubai an attractive and viable business destination for global businesses,” he said.

Al Shirawi further stressed that as a regional and global business hub, Dubai has been offering world-class facilities supported by a business-friendly environment and a well-equipped legal system to its multicultural business community. This decision further reflects Dubai’s commitment to supporting investors and businesses both domestically and from around the world, he added.

On his part, Dr. Michael Hwang, Chief Justice of Dubai International Financial Centre Courts, said that the expansion of
the DIFC Courts’ jurisdiction is a real boost for the business community as this ruling allows us to work hand in hand with Dubai Courts to support the Emirate’s competitive business environment.

Dr. Hwang also added that the Courts can now offer a wider choice of options to avail world-class judicial system and judiciary to internal as well as external parties including local, regional and global businesses.

Nassib G. Ziadé, Director, Dubai International Arbitration Centre, informed that the roundtable is a timely event taking place at Dubai Chamber which is at the heart of businesses in the Emirate and hosts the Dubai International Arbitration Centre.

All providers of dispute-resolution mechanisms in Dubai complement each other and offer a wide selection of services to the business community while promoting Dubai as a business hub for the whole region and beyond, he said.

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