Ajman Crown Prince Announces New Package Of Economic Incentives

H.H. Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Executive Council, announced a directive to support the sectors of foreign trade, customs, tourism and real estate and other economic establishments with a set of urgent decisions, as part of a second package of economic incentives.

AJMAN, (UrduPoint / Pakistan Point News / WAM - 08th Apr, 2020) H.H. Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Executive Council, announced a directive to support the sectors of foreign trade, customs, tourism and real estate and other economic establishments with a set of urgent decisions, as part of a second package of economic incentives.

Sheikh Ammar stressed that the Ajman Government is working during these exceptional circumstances to support the local community, which includes individuals, business leaders and investors, by implementing precautionary and preventative measures to face the repercussions of the current crisis, ensure the security and stability of the community and create opportunities for growth and progress under the most difficult circumstances.

Sheikh Ammar’s second package includes five initiatives to support the emirate’s foreign trade and customs sectors, including the possibility of paying customs duties with easy payments within 90 days, extending the free period for storing containers from 10 to 20 days, and reducing container insurance fees by 50 percent for each container until the end of June 2020.

They also involve supporting the emirate’s real estate sector with 11 decisions, including cancelling administrative fines for every violation of real estate registration renewals.

Sheikh Ammar’s directive will support the tourism sector through three new decisions, which are exempting hotel and tourism establishments from registration fees until the end of the current year, cancelling penalties, and postponing the payment of fines due at the end of the current year.

To support the business sector in Ajman, Sheikh Ammar announced the postponement of the payment of the fines and penalties until the end of the current year for all businesses in the emirate.