Dubai DED alerts businesses on unauthorised events, project financing offers

DUBAI, The Commercial Compliance and Consumer Protection, CCCP, sector at the Dubai Department of Economic Development, DED, has called on businesses and entrepreneurs to be vigilant about misleading and unlicensed project financing offers and competitions often announced at conferences or across social media.

The CCCP urged those who had doubts to call the DED Contact Centre on 600 54 555 to verify the authenticity of competitions and events that call for innovative business ideas and then ask to pay participation fees, promising that the winning idea would be awarded huge sums as project finance.

The warning is a part of the CCCP’s initiatives to prevent commercial fraud and protect people in business from individuals who engage in fraudulent activities. It is also part of the DED’s efforts to eliminate negative practices harmful to the market, protect the rights of traders and allow them to conduct business according to the highest international standards while also reinforcing Dubai’s reputation as a preferred destination for business and tourism.

Mohammed Ali Rashid Lootah, CEO of CCCP, said, “The Department of Economic Development seeks to protect the trade sector and ensure that any business activity is duly licenced, thus enhancing transparency in the market. Dubai is witnessing a range of activities aimed at the businesses and entrepreneurs and we invite everyone concerned to contact the appropriate authority and ensure that such activities are genuine.”

“The CCCP team follows up on all the events and promotions held across the emirate to ensure that they are in line with the existing laws and regulations and business activity and consumer protection in Dubai and the UAE… We also have an e-Inspection team to monitor promotional offers across websites and social media,” Lootah added.

Source: Emirates News Agency