Umm Al Quwain: His Highness Shaikh Saud Bin Rashid Al Mualla, Supreme Council Member and Ruler of Umm Al Quwain, on Saturday instructed the UAQ Department of Economic Development (DED) to decrease the costs of doing business in the emirate.
Shaikh Saud’s instruction calls for a 20 per cent reduction in DED fees and the waiving all fines and penalties slapped on businesses whose commercial licences have expired.
The move is aimed at smoothening the process of commercial licence renewal while ensuring the continued growth of commercial companies.
Shaikh Saif Bin Rashid Al Mualla, chairman of the DED in Umm Al Qaiwain, commended Shaikh Saud’s directives, which come as part of his continued support to the business sector and his keenness to find alternatives and effective solutions that help stimulate business growth.
“The cancellation of fines and violations will help companies reduce their financial burdens. This step will enhance investors’ confidence in the services provided by the emirate and reflect the government’s commitment to support the businesses through providing facilities and resources to support the private sector and improve performance”, Shaikh Saif further said.