Dubai – MENA Herald: The Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development (DED) in Dubai, has signed a Memorandum of Understanding (MoU) with the DIFC Dispute Resolution Authority (DRA) to support the emirate’s economic ambitions outlined in Dubai Plan 2021. The document was signed by Fahad Al Gergawi, Chief Executive Officer of Dubai FDI, and Michael Hwang, SC, Head of the Dispute Resolution Authority and Chief Justice of the DIFC Courts.
The MoU focuses on promoting Dubai as a centre of legal excellence that offers certainty to global investors and businesses operating in the emirate.
“A globally trusted dispute resolution mechanism is integral to investor confidence in Dubai. We are delighted to have DIFC Dispute Resolution Authority as our partners as it enhances our combined efforts and Dubai FDI’s message to investors worldwide that Dubai has the best systems to sustain and grow their investment,” commented Fahad Al Gergawi.
The DIFC Dispute Resolution Authority (DRA) was established in 2014 as a platform for delivering legal excellence in the Middle East and as the gateway to a suite of services available to businesses operating in Dubai. Its divisions, which include the DIFC Courts, DIFC Wills and Probate Registry and Academy of Law, work in partnership to provide businesses with unparalleled choice about how to resolve their commercial disputes, to develop legal talent and to protect individuals investing or living in Dubai.
Chief Justice Michael Hwang said: “When it comes to resolving commercial disputes, companies and investors like choice and certainty, and Dubai offers both in abundance. We look forward to working with the Dubai FDI team to showcase Dubai’s legal excellence on the global stage. The DRA is proud to be working alongside the emirate’s other official bodies to make Dubai and the UAE one of the best places in the world to do business.”
Under the terms of the MoU, the DIFC DRA and Dubai FDI will also collaborate on the exchange of information and research, and the hosting of joint conferences and exhibitions.