Tue 09-03-2021 19:54 PM
DUBAI, 9th March, 2021 (WAM) -- In line with the directives of Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of The Executive Council of Dubai H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has ordered the extension of the freeze on Dubai government fees till early 2023.
As a result of the decision, the three-year freeze on government fees announced by the Crown Prince in March 2018 will continue to be in place. The move aims to further boost social stability, economic competitiveness and the confidence of businesses, entrepreneurs and investors in the emirate. It also seeks to strengthen Dubai’s ability to adapt to changing market realities, accelerate the pace of recovery and boost sustainable development.
The Crown Prince said the extension reflects Sheikh Mohammed bin Rashid’s commitment to enhance the happiness and wellbeing of all sections of society including citizens and residents. The move helps raise the resilience of Dubai’s businesses and eases any financial challenges they may have due to the prevailing situation. The decision also demonstrates the Dubai government’s flexibility and agility in dealing with a shifting global socio-economic landscape, Sheikh Hamdan added.
Apart from the extension of the freeze, no new fees will be imposed, except in the case of the introduction of new vital services.
The extension of the freeze complements the five economic stimulus packages launched by the Dubai Government in March 2020 to help businesses tide over the repercussions of the pandemic. The wide-ranging support measures worth AED7.1 billion ensured that the short-term impact of COVID-19 did not translate into long-term economic challenges that can inflict lasting damage on people and businesses.