Dubai approves second, larger Dh1.5 billion economic incentives package

Dubai:  Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, on Thursday approved a second package of economic incentives worth Dh1.5 billion, bringing the total economic support to Dh2.5 billion over the past two months, as the emirate seeks to strengthen economic resilience and global competitiveness.

The new package includes 33 initiatives to be implemented over periods ranging from three to 12 months across sectors including tourism, commerce, education, transport, aviation and customs services, according to details released by the Dubai Executive Council.

Measures include exemptions from tourism dirham fees, municipal fees on hotel room and restaurant sales, and permit-related charges for events.

The package also offers a two-year extension of membership licences for companies registered with the Mohammed Bin Rashid Establishment for Small and Medium Enterprises, alongside exemptions on sales and promotional fees.

Additional measures include instalment options for customs payments, an 80 per cent reduction in customs fines, deferred licence renewal fees for private educational institutions, and reduced fees for renewing civil aviation activity permits.

In a post on X platform, Sheikh Hamdan said the initiative reflects the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to transform challenges into growth opportunities.

“We remain committed to strong public-private partnerships and maintaining close engagement with the community and business sector,” Sheikh Hamdan said.

He added that Dubai would continue taking decisions aimed at supporting society, strengthening economic resilience and reinforcing the emirate’s position as a global economic hub.