Dubai announces 500 million dirhams stimulus package to support local economy

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.”

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