A top official at Dubai's Department of Economic Development (DED) has said that there will be no increase in fees and costs for businesses in Dubai because of a freeze.

Director General of the DED, Sami Al Qamzi also said that economic indicators from the first quarter of 2009 are "good, especially in retail, so we are in a position just to monitor the situation."

Speaking on the sidelines of an event organised by the Italian Business Council in Dubai, Al Qamzi told Gulf News that the DED is concentrating on two key initiatives in the short term, to freeze the cost of doing business, and to reduce existing costs, and to support the development of small and medium sized enterprises (SMEs).

In a positive signal to businesses, the DED has signalled its intention to review its procedures and even policies.

"We are trying to revise procedures and policy for business. If we see business ideas that are good for Dubai, we are ready to change the law and regulations for that. We have to be very flexible," Khalid Al Kassim, deputy director general for economic and sector development at the DED said.