Dubai Chamber of Commerce & Industry has announced that it has signed a memorandum of understanding (MoU) with the General Directorate of Residency and Foreigners Affairs (GDRFA) and Dubai Free Zone Council to launch the “Be Part of Dubai” initiative which will see prominent businessmen receive UAE Golden Residency Visas.
The MoU, signed at a launch ceremony held on the sidelines of the Global Business Forum Africa 2019 in Dubai, supports ongoing efforts to attract and retain high net worth investors from Africa by providing them with an easy and streamlined way to obtain long-term visa residency visas.
The initiative aims to improve investor confidence in Dubai, by providing more certainty and flexibility for businessmen and their families who plan to live or travel to Dubai, while it’s also expected to attract foreign investment flows to the Emirate.
The strategic partnership agreement was signed by HE Hamad Buamim, President and CEO of Dubai Chamber; HE Major General Mohamed Ahmed Al Marri, Director General of GDRFA; and HE Dr Mohammed Al Zarooni, Secretary General of Dubai Free Zones Council.
HE Buamim said the “Be Part of Dubai” initiative supports Dubai Chamber’s efforts to improve ease of doing business in Dubai and promote the emirate as an attractive investment hub.
HE added: “This strategic agreement supports Dubai’s strategic vision to diversify its economy, cement its status as a preferred destination for foreign direct investment and enhance its economic competitiveness on a global level.”