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Dubai announces $136 mln economic stimulus package

Christian Fernsby ▼ | October 26, 2020
Dubai has announced a new economic stimulus package worth $136 mln (AED 500 million) to support various business sectors.
Package   Dubai
The newly announced package now brings the total value of stimulus packages introduced by the Dubai government this year to $1.8 bln (AED 6.8 billion).

Topics: Dubai

“We realize 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,” Sheikh Hamdan Bin Mohammed Al Maktoum, Dubai’s crown prince, tweeted.

“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,” he added.

The Crown Prince also announced initiatives relating to the exemption of government fees for on the private sector and the extension of several that were already approved during the previous stimulus packages.