Dubai approves Dh1b economic support package to boost resilience

Dubai:  Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, has approved Dh1 billion in economic facilitation measures to support businesses and enhance market resilience, with implementation set to begin on April 1 for a period of three to six months.

Chairing a meeting of Dubai’s Executive Council, Sheikh Hamdan said the package aims to strengthen the emirate’s economic flexibility, raise readiness levels and ensure a swift response to current requirements.

Sheikh Hamdan said: “Under the visionary leadership of His Highness Sheikh Mohamed bin Zayed and His Highness Sheikh Mohammed bin Rashid, and with the determination of its people and an open, inclusive society, the UAE is well-positioned for a better future.” His Highness emphasised that the UAE has established a global benchmark for cities that is built upon clear vision and sound policy.

“Dubai has earned a reputation for credibility, transparency, and trust among businesses and investors worldwide, and stands ready to meet any challenge through the determination of its people and the strength of its inclusive society,” he added.

He added that Dubai remains committed to supporting individuals, families and the business community, enabling them to navigate the current phase with confidence and stability.

During the meeting, officials reviewed Dubai’s economic performance for 2025, with growth reaching 5.4 per cent and gross domestic product exceeding Dh937 billion, underscoring the emirate’s strong momentum.

Sheikh Hamdan said Dubai’s leadership remains closely attuned to the needs of society, supported by experienced teams capable of managing evolving challenges while sustaining growth.

He stressed that Dubai has consistently demonstrated its ability to turn challenges into opportunities, reaffirming confidence that the emirate will emerge from the current phase stronger, more competitive and firmly positioned as a leading global economic hub.

The meeting was attended by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai.

Key measures

Key measures approved to support the community and the business sector include the postponement of selected government fees for three months to ease financial pressures on companies and improve liquidity.

They also include a three-month postponement of hotel sales fees to support cash flow in the hospitality sector, as well as the postponement of the tourism dirham fee for three months to bolster the tourism industry .

The facilitation measures include the extension of customs clearance grace periods from 30 to 90 days, with the possibility of further extensions, to facilitate trade for exporters and importers. Other measures include the introduction of competitive incentives to streamline the issuance and renewal of residency permits, helping to attract and retain talent.

Three initiatives approved

Virtual Warehouses Initiative: In its first phase, the initiative will facilitate temporary imports into Dubai to ensure the smooth flow of goods, including artwork. Under a new temporary admission declaration, the scheme exempts imports of artwork from customs duties and financial guarantees and suspends duties on private artworks for three years.

It also removes geographical restrictions, simplifies time extensions, and introduces virtual copies of artworks for continuous high-tech tracking.

Dubai Empowerment Strategy: The strategy is designed to raise living standards, strengthen financial stability, promote sustainable employment, and foster social cohesion among Emirati families. Cross-sector partnerships between government, businesses, and community organisations are at the heart of the strategy.

Health and Safety Strategy for Workers’ Accommodation: This strategy is a major step towards improving living and working conditions for workers across Dubai. By 2033, the strategy targets 100 per cent access to essential services for workers and 100 per cent compliance of workers’ accommodations with health and safety regulations. The initiative supports the Dubai 2040 Urban Master Plan and aligns with International Labour Organisation (ILO) regulations.