Dubai Economic Community warns against unauthorized competition to finance projects



Be careful with the activities and competitions of financing misleading and unlicensed projects, which are announced at conferences or social media.

Dubai Economic Community warns against unauthorized competition to finance projects

Mohammed Ali Rashid Lootah, executive director, commercial control sector

By ArabianBusiness

Monday, October 15, 2018

The Ministry of Trade Control and Consumer Protection at the Ministry of Economic Development (DED) in Dubai urged traders and thinkers to be cautious about the activities and competitions of financing misleading and unlicensed projects announced at conferences or social media.

The organizers of the competition ask small and medium-sized entrepreneurs to participate in the ideas of their projects that they want to finance, because payment is a condition for participation in the financing contest, which claims to finance the best idea for a large amount of money.

According to Emirates News Agency, Dubai Economy argues for its credibility by communicating with its call center 600545555.

Mohammed Ali Rashid Lootah, Executive Director of Commercial Control and Consumer Protection, Department of Economic Development, Dubai, said: "The Dubai economy strives to protect the business community and to ensure that there are no infringements by entrepreneurs and thus the transparency of the market.

Lootah added: "The team will follow up all events and promotions in the emirate of Dubai and ensure that the agenda of the event coincides with the declaration of the Dubai Economy." There are no infringements. To ensure that activities are consistent with consumer protection laws in the Emirate of Dubai and the UAE in general. "

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