Sharjah: The Executive Council of the Emirate of Sharjah has announced a 50 per cent discount on fines related to the non-renewal of licences for businesses.
The discount is conditional upon business owners rectifying their status within a four-month window, commencing on July 10.
The decision was approved during a meeting chaired by Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Deputy Chairman of the Executive Council.
The initiative comes as part of Sharjah’s commitment to offering optimal economic incentives and bolster the growth of the local market.
Additionally, the Council gave the green light to the Department of Economic Development to sign a memorandum of understanding with the Ministry of Industry and Advanced Technology.
The collaboration aims to foster cooperation in regulating market surveys and verifying product conformity. The move is expected to enhance the business ecosystem within the Emirate and bolster confidence among investors and consumers alike.
