Dubai’s new business support measures set to boost resilience, growth

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Officials overseeing Dubai’s tourism and key economic sectors have said that the business support measures announced earlier this week will bolster resilience, help companies navigate short-term challenges and support sustained growth.

The measures form part of a wider AED 1 billion economic incentive package announced by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, UAE Deputy Prime Minister and Defence Minister.

They include allowing hotels to postpone paying 100 per cent of the sales fees on rooms and food & beverage as well as the Tourism Dirham for three months.

Designed to ease financial pressures and enhance liquidity in the hospitality and tourism sectors, the measures are effective from April 1. Their scope covers all hospitality establishments, including hotels, hotel apartments and holiday homes.

Other measures aimed at supporting businesses across the wider economy, implemented for a period of three months include the deferral of fees for premium business names; licence amendment fees; newspaper announcement fees; local service fees; accommodation fees; waste management fees; and service improvement fees.

The deferrals are applicable for both new licences and renewals. Businesses will be provided with an update at the end of the three-month period.

"The growth of Dubai’s tourism sector and wider economy in recent years has been built on continued engagement with industry, and a readiness to understand challenges and opportunities, and rapidly enact policies that can incentivise growth and solidify resilience," said Helal Saeed Almarri, Director General of the Dubai Department of Economy and Tourism (DET).

Issam Kazim, CEO of the Dubai Corporation for Tourism and Commerce Marketing (DCTCM), part of DET, said: "Over recent weeks, we have been closely engaging with stakeholders across the tourism sector as they navigate through unique challenges. We applaud the resilience they have demonstrated, as well as the role they have played in maintaining the high-quality service and destination offerings the city has become known for."

Ahmad Khalifa AlQaizi AlFalasi, CEO of Dubai Business Registration and Licensing Corporation (DBLC), part of DET, added: "By giving businesses extra flexibility over the coming months, we are allowing them to focus on key priorities and the measures they need to take to protect the long-term sustainability of their operations."

Other measures introduced as part of the broader economic package include the extension of customs data grace periods and the streamlining of the issuance and renewal of residency permits.

 

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