During the meeting,  Dr Khalfan bin Kharbash, Minister of State for Financial and Industrial Affairs, was chosen as the Vice President of the Council.  The council also decided to form a small committee headed by the chairman to set the bylaws for the council, a working plan for the next period, and the estimated budget project, and for the committee to inform the council of its findings in a later meeting.  The committee includes the Vice President, Abdul Rahman Saif Al Ghurair, Majid Hamad Rahma Al Shamsi, Dr Ahmad Saif Belhasa, Ahmad Hasan Mohammad Bin Al Sheikh, Sultan Saeed Al Mansouri, and Dr Anwar Mohammad Girgash.

The Chairman said the meeting also discussed ways to develop Dubai's economy, assuring that any economic development in Dubai serves the economy of the United Arab Emirates as a whole.  He added that the council includes a number of leading personalities in Dubai's business and commercial sectors, and have developed their ancestors' expertise to develop their own businesses, which reflects their abilities to develop Dubai's economy and the economy of the UAE. "We are from the country which has achieved the highest percentage of economic growth in the world, and its not easy for any person to portray his/her own opinion on the subject, but it's possible to reach this idea through the council and Dubai's executive Council, and the relative government bodies" commented Juma' Al Majid. He added "if we look at the UAE's economic development,  we would find that the government has allowed the necessary freedom for thought and money, which leads to continuous economic development without restrictions".