MoU between Dubai Sports Council and Dubai Economy to facilitate investment in sports

 The business of sports in Dubai is set to receive a major boost following the signing of a Memorandum of Understanding between Dubai Sports Council and Dubai Economy.

The MoU, which was signed by His Excellency Sami Al Qamzi, Director General of Dubai Department of Economic Development, and His Excellency Saeed Hareb, Secretary General of Dubai Sports Council, at the headquarters of the Council on Wednesday, will combine the efforts of the two Government of Dubai entities to develop the sports sector and strengthen Dubai’s position as one of the leading destinations for investments in sports.

A number of top officials from Dubai Sports Council and Dubai Economy, including Nasser Aman Al Rahma, Assistant Secretary General of the Council, were also present at the signing of the MoU, which seeks to expand the areas of cooperation between the two parties in different spheres, with their primary focus being the development of Dubai’s sports sector and increasing its contribution to Dubai’s economy. The two entities will also work to expand benefits for members of the community, as well as investors in Dubai’s sports sector and organisers of sports events in the Emirate.

The Memorandum of Understanding comes within the framework of Dubai Sports Council’s role of managing and developing the sports sector in Dubai in accordance with Executive Council Resolution No. 1 of 2020 regarding the organization of sports institutions and events in the Emirate of Dubai.

The MoU will also activate the sports side of “Invest in Dubai”, the centralised digital platform for doing business in Dubai, which was launched by the Government of Dubai earlier this year with the aim of easing the process establishing a business in the Emirate. The portal enables investors to obtain trade licences and launch their business in minutes, without the need to physically visit any government service centre for official permits and approvals.

The MoU, thus, will also enable investors in the sports sector to obtain licences within minutes, as well as ease the process of getting official permits and approvals for organising training camps and sports events.

The agreement also seeks to unify the efforts of the two parties in the field of supervision and inspection of gyms and fitness centres, academies and sports events, as well as other institutions operating in Dubai’s sports sector. It will also allow the two parties to share information, data and statistics related to the sports sector in Dubai, and to use them to create development plans and programs.

His Excellency Sami Al Qamzi, Director General of Dubai Economy, expressed his happiness at the cooperation with Dubai Sports Council which will encourage investment in the sports sector and enhance the work of entities operating in Dubai’s sports sector.

He said: “Invest in Dubai is a centralised digital platform for establishing businesses in the Emirate of Dubai, allowing investors to obtain licenses and start their business in a few minutes. The platform consolidates Dubai’s position as a top international destination for investment, and provides a unique experience for doing business in a style consistent with Dubai’s ‘Smart’ profile.

“We are happy to provide this platform to those wishing to invest in Dubai’s lucrative sports sector, and we are happy to support their work, and help them in growing their business and achieving their goals.

“We are also pleased to unite our efforts with Dubai Sports Council to ensure the quality of work in Dubai’s sports sector in accordance with the highest standards that strengthen Dubai’s sports sector, increase the number of sports practitioners as well as the number of people employed by the sector, and increase its contribution to the national economy.”

HE Saeed Hareb, Secretary General of Dubai Sports Council, said: “The Dubai Sports Council is always keen to cooperate with government and private institutions to develop the sports sector and enhance the contribution of sports to the economic, health and educational benefit of the community.

“This Memorandum of Understanding with Dubai Economy stems from the two parties’ keenness to support and strengthen strategic cooperation, and to encourage private investment in Dubai’s sports sector and facilitate the functioning of institutions operating in the sector.”

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