A new law introduced to govern the operations of taxis in Dubai will create a new authority and increase private sector investment.
Sheikh Mohammed, Ruler of Dubai, has issued Law No (9) of 2016, which replacing Dubai Transport Corporation with Dubai Taxi Corporation.
Dubai’s Crown Prince Sheikh Hamdan also issued Executive Council Resolution No. (48) of 2016, which makes Dubai Taxi Corporation a public institution in its own right, with financial and administrative autonomy.
According to the Resolution, Dubai Taxi Corporation will develop the passenger transport sector, in line with Dubai’s strategies. The Dubai Taxi Corporation will also be able to own, use and rent land, as well as establish its own petrol stations to service its vehicles. The share capital of the corporation has been set at AED100 million ($27m), which can be increased by a decision of Road and Transport Authority’s Board of Directors. More info
By Staff www.arabianbusiness.com