The Dubai government has announced plans to set up a trade regulator which will seek to protect business interests in the emirate.
His Highness Shaikh Mohammad Bin Rashid Al Maktoum, the prime minister of the UAE and ruler of Dubai, ordered the setting up of a joint commercial control and protection establishment following a visit to the Entrepreneur Business Village, Gulf News reported.
The village is set to be the new headquarters for the new Mohammad Bin Rashid Establishment for Small and Medium Enterprises Development.
Officials met the leader and gave a briefing on the departments' strategic growth plans for the next two years.
Angela Maglieri, executive director of the Department of Economic Development, told the news provider that the watchdog, which will become the sole economic regulatory and protection body in Dubai, is still in its early stages of development.
Located in the centre of Dubai, the Entrepreneur Business Village is one million square foot development focused on attracting and enabling entrepreneurs to start new businesses.