Dubai passed the Executive Council Resolution (No. 23) of 2020 earlier this week, as per which no government-owned businesses in Dubai will compete directly with the private sector. The Resolution sets clear guidelines on the how-to launch any new government company.
In the post-COVID-19 environment, the government of Dubai aims to provide more space to the private sectors. Sheikh Hamdan said that “We are keen that the private sector plays a major role in shaping the future of the national economy and achieving sustainable development”. He also mentioned that, ” We did not want to be a competitor to the private sector, but rather seek to complement it”.
The Resolution of the Dubai government ensures growth and security to the private sectors. Afzaal Hussai, chief operating officer at Azizi Developments said that “The principles uphold fair competition and no other advantages being given in the form of financial support, tax, fee, charges or tariff exemptions, we see this decree as way for the public sector to complement the private sector rather than competing with it. ”
According to the Resolution, a government-owned entity is allowed to establish a company only if its ‘main activity falls within the objectives of the entity’. And any company created in this manner should stick to the principles of fair competition. Any kind of financial support from the government will not be received.
Such a Resolution is a rare decision made by the government, a government entity not receiving any support from the government in order to complement the private sectors.
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