Shuraa Business Setup

Stimulus Package for Dubai Economy

The global economy is going through challenging times with the outbreak of the Coronavirus. Businesses, investments, and daily life continue to be greatly affected by it. It is highly commendable that the Dubai Government has been swift to introduce measures in the form of an economic stimulus package to safeguard the interest of the city’s ailing business community.

On Thursday, March 12, the Dubai Government, under the directives of Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, presented an AED1.5 billion economic stimulus package for the next three months to support companies and the business sector in Dubai. The impact of these measures will be reviewed at the end of the proposed period.

Effective immediately, this package aims to take actions to

Shoba Hari, CEO of Shuraa Management & Consultancy, commenting on the economic stimulus package introduced by the Dubai Government – Khaleej Times, Mar 14, 2020

The stimulus package includes 15 initiatives across different sectors. Here is a quick look at them.

Commercial & Business Sector

External Trade

Local Commerce

Tourism Sector

Reduced Cost of Living

The announcement of these initiatives, aimed to stimulate the economy, is sure to offer some relief to businesses in Dubai, especially SMEs. It is the much-needed reassurance that entrepreneurs need in these tough times.

Source: Gulf News

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