In his capacity as Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates, enacted Law No. 11 of 2015, establishing the Dubai World Central Corporation as a subsidiary of the Dubai Aviation City Corporation.
In accordance with the law, Dubai World Central Corporation aims to attract investment to Dubai Aviation City, prepare a suitable environment for investment, commercial, real estate and service projects, improve aviation and cargo services within of Dubai Aviation City Corporation, to attract specialized international airlines and contribute to the development of logistics services in Dubai.
Dubai World Central Corporation also aims to attract and retain aviation training, education and research companies, in addition to intermodal transport companies, logistics service companies and support service companies.
The law also specified the authorities of the Dubai World Central Corporation, to include: development, operation and supervision of infrastructure, planning and subdivision of land and properties, construction and management of buildings, warehouses, hangars and any other facilities necessary for commercial, professional, residential or industrial purposes, after obtaining the required authorizations from the Dubai Aviation City Corporation, develop and support commercial activities related to intermodal transport and services logistics and oversee the development of industries related to information technology, electronic commerce and communication.
In addition, Dubai World Central Corporation is responsible for facilitating research, development and education activities related to aviation, intermodal transport, logistics and related support services, and investing funds allocated by Dubai Aviation City Corporation for these purposes and in accordance with applicable laws. Dubai World Central Corporation also issues licenses and permits for entities working inside the free zone in accordance with applicable rules and regulations and monitors the activities of these entities.
The law also authorized the Dubai World Central Corporation to establish wholly-owned subsidiaries, to own shares in established or under-established companies, to sign contracts and agreements with other organizations, and to organize and participate in events. industry-related exhibitions and conferences.
The Dubai World Central Corporation is also authorized to collect fees and charges for services provided in the free zone and to coordinate with subsidiaries to enable the Dubai World Central Corporation to exercise its delegated powers and competences.
In accordance with this law, Dubai World Central Corporation enjoys all the rights, obligations, responsibilities and powers of Dubai World Central in Dubai Aviation City Corporation, and these rights are to be defined by the CEO of Dubai Aviation City Corporation. In addition, all Dubai World Central employees are transferred to Dubai World Central Corporation without prejudice to their rights.
Law No. 11 of 2015 cancels any other legislation that contradicts or challenges its articles. The law must be published in the Official Journal and considered valid from the date of its publication.
UAE to unveil scientific details of first Arab mission to Mars next week
On Wednesday May 6, the United Arab Emirates will unveil the scientific and logistical details of the first Arab mission to Mars. The announcement will take place at an official event attended by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, and other senior officials of the United Arab Emirates.
The event will reveal the plan for the spacecraft’s 7-9 month journey through the solar system, the nature of the scientific research it will conduct upon arrival on the Red Planet, and the team of engineers and scientists Emirates who will work on the project for the next five years.
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