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AED 500 million stimulus package in Dubai

Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, approved an economic stimulus package worth AED 500 million, bringing the total package to AED 6.8 billion.

Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, we announce a AED500 million stimulus package to support the local economy, bringing the total worth of stimulus packages announced this year to AED 6.8 billion,” Sheikh Hamdan said.

Sheikh Hamdan approved a set of initiatives to exempt private clinics from commercial license renewal fees, extend licenses for existing clinics, and extend licenses for health professionals working in clinics for a period of six months from the date of the license expiration.

Sheikh Hamdan also approved the initiative to support the taxi sector by amending the calculation of franchise fees to enhance the financial liquidity of operating companies.

Sheikh Hamdan said, “The private sector is a major partner in Dubai’s development process. We have adopted a set of new exemptions for some fees and a reduction in rents for some sectors, as well as an extension of the validity of a previous set of exemptions from fees.

“We realise the pandemic has imposed great challenges on several business sectors at a global level, and our goal is to fully overcome these challenges locally and accelerate recovery to establish a new phase of economic growth,” he added.

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