Dubai unveiled a fresh AED500 million stimulus package to support the local economy, bringing the total worth of stimulus packages announced this year to AED6.8 billion. Sheikh Hamdan Bin Mohammed Al-Maktoum, the crown prince of Dubai, UAE announced this package in his tweet on Saturday.
He said, “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.
“The private sector is a major partner in Dubai’s continued progress. We have now approved a fresh set of fee exemptions and rent reductions for some sectors, as well as an extension on the validity of a previous set of fee exemptions.”