Dubai introduces "one free zone passport" scheme

Dubai is making big changes to its business world with the new "one free zone passport" plan. This plan lets businesses work in many free zones using just one license. The Dubai Free Zones (DFZ) Council is leading this, making it easier and cheaper for businesses to set up in more than one free zone.

This change is part of Dubai's goal to make business more flexible and the economy stronger. Sheikh Ahmed Bin Saeed Al Maktoum, who leads the DFZ Council, says this will help development, attract small and big companies, and let entrepreneurs turn their ideas into reality.

Also, there's a plan to make free zone licenses last longer, from 25 years to 50 years. This is to give businesses more stability and encourage them to invest for a longer time.

Dubai is also working on a big plan to show why it's a top place for investment and business. This is part of its effort to have a varied economy, which is important for its future success.

Another new thing is that businesses in free zones can now work both inside and outside Dubai without needing many licenses. This makes it easier for them to work in different areas.

The DFZ Council supports the "Free Zone 10X" project, too. This project aims to create a special financial market just for free zone businesses. It would help them get money by offering shares to the public. Right now, they're looking into how to make this market work.

Many groups in Dubai, like the Ministry of Economy and Dubai Chamber of Commerce, are working together on these changes. This teamwork is in line with the vision of Sheikh Mohammed Bin Rashid Al Maktoum, the leader of Dubai. Dubai's focus on new ideas and growing its economy makes it a key place for business worldwide.