VP issues decree placing Victory Team Establishment under Dubai International Marine Club - GulfToday

VP issues decree placing Victory Team Establishment under Dubai International Marine Club

Sheikh-Mohammed

Sheikh Mohammed Bin Rashid Al Maktoum

In his capacity as Ruler of Dubai, Vice President and Prime Minister of the UAE His Highness Sheikh Mohammed Bin Rashid Al Maktoum has issued Decree No. 34 of 2019, according to which the Victory Team Establishment will henceforth operate under Dubai International Marine Club.

According to the Decree, all functions, responsibilities, assets, funds and employees of the Victory Team Establishment will be transferred to the Dubai International Marine Club. Additionally, all rules, policies and regulations that Dubai International Marine Club operates under will now be applied to the Victory Team Establishment. Subsequently, Dubai International Marine Club will hold all the rights and obligations of the Victory Team Establishment.

Pursuant to the Decree, Chairman of the Dubai Sports Council will issue a resolution appointing the Board of Dubai International Marine Club. The Dubai Government or Dubai Sports Council shall not be held responsible for any liabilities of the Victory Team Establishment. Dubai International Marine Club will be solely responsible for such liabilities. The Board of Dubai International Marine Club will manage all liabilities incurred prior to the issuance of this Decree.

The new Decree annuls Decree No.12 of 1996 on the establishment of the Victory Team Establishment, the Order dated 25 December 1996 for appointing the Chairman of the Victory Team Establishment, the Resolutions issued by the Chairman of Dubai Sports Council dated 30 January 2017 and 23 April 2019 that formed the Board of the Victory Team Establishment and any other legislations that contradict or challenge its articles.

The new Decree will be published in the Official Gazette and will be valid from the date of its publication.

Aerospace hub

The Mohammed bin Rashid Aerospace hub in Dubai South is a global aviation centre that attracts leading international companies in the aviation industry.

The hub offers various facilities and services and has a world-class infrastructure, reinforcing its position as a portal for suppliers and investors and fulfilling the needs of aircraft owners and international companies.

Tahnoun Saif, Executive Director of the hub, said that the hub is part of Dubai South, which comprises a range of key economic projects, including Al Maktoum Airport, the Logistic Zone and the Expo 2020 Dubai.

In a statement to the Emirates News Agency, WAM, he said that the hub attracts private aviation companies and aircraft maintenance companies, which are keen to provide comprehensive training services for aircraft technicians.

Official statistics highlight the growing business activity in Dubai’s private aviation sector, which recorded a significant increase in the first half of 2019 of 26 percentage compared to the same period in the previous year.

Regarding the hub’s participation in the Dubai Airshow 2019, Tahnoun Saif stressed that the show is one of the world’s leading aviation exhibitions and the hub is keen to regularly participate in it, as it provides an ideal platform for showcasing their projects.

He is also proud of the leading reputation of the Dubai Airshow, he added, noting that it witnesses the announcement of major projects.

Representatives of the hub briefed the airshow’s visitors about its latest developments and explained that the hub’s facilities currently host 70 percent of private aircraft movement in Dubai, which is expected to increase to 100 percent over the next three years. They also announced the development of six flight hangars, which will be completed by the end of 2020.

A supply chain zone has been built in the hub, which includes a supply chain facility and a complex for aviation suppliers. The hub provides a range of aviation services, including operations support, maintenance and repair, supply of aircraft spare parts, aircraft rental, goods shipping and fleet management, as well as an education and research zone.

The hub also aims to benefit other businesses related to the aviation sector, including offices and shops near the private aviation building, air services companies, financial and legal companies, insurance companies and other companies involved in the sector that can establish headquarters or branches in the emirate and benefit from the advantages of the free zone.

WAM