Centre to settle business disputes

Business Village in Dubai will soon have a dedicated centre that will act as one stop shop in the settlement of business disputes.

The centre, a joint venture between Department of Economic Development (DED) and Dubai Courts, is an attempt to solve problems faced by small and medium business owners which account for 95 per cent of all businesses in Dubai.

“The one stop centre will help the business community to get all their legal wrangles solved at  single place, rather than running around to different places for different issues and locating it at the Business Village is ideal for the community,” said Sami Al Qamzi, Director General of DED.

The centre will have offices where legal suites can be filed as well as housing a judge specialised in the settlement of business disputes, in addition to a group of experienced and qualified arbitrators.

The setting up of such a centre is considered particularly important because small and medium businesses form the back bone of Dubai’s economy and creating a favourable environment by helping settle all disputes amicably and quickly is thought to be key to attracting more investment.

A recent study has revealed that small and medium businesses employ 42 per cent of the Dubai’s workforce, and 40 per cent of the gross domestic product (GDP) in Dubai, which speaks of the importance of having a hassle free business environment.

"The initiative to open the centre at the Business Village is to support economic activity in the emirate and contribute to resolving disputes in such a way so as to ensure economic and social stability,"

Dr Ahmed Saeed Bin Hazim, Director General of Dubai Courts said.

The primary aim of the centre according to officials is to try and solve the maximum disputes amicably without to resort to any legal action. The officials feel the dedicated centre will reduce business related court cases significantly.