The Dubai Department of Economic Development (DED) and the UAE Ministry of Social Affairs have clinched a Memorandum of Understanding (MoU) with the aim to further consolidate foreign investment in the emirate region, especially in social services.

According the sources, the MoU is part of efforts to increase Dubai's economic development by helping procedures for investors and encouraging investment in social affairs.

The sources further added that the two parties will review the licensing of social activities, and exchange views, information, data, studies and projects related to such activities to develop social services structures.

The authorities of DED said that the MoU's focus on social services will help them to attract more investment and contribute to the social and economic welfare of the society.

The authorities further added that together with the Ministry, they will adopt international quality standards in monitoring social activities and raise the standard of related businesses.

(via TopNews Arab Emirates. Contributed by Sadik Al Rumaithi)