Hamdan Bin Mohammed Approves Stimulus Package Of AED500m
Umer Jamshaid Published October 24, 2020 | 10:45 PM
(UrduPoint / Pakistan Point News / WAM - 24th Oct, 2020) DUBAI, 24th October 2020 (WAM) - Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, approved an economic stimulus package worth AED 500 million, bringing the total package to AED 6.8 billion.
Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, we announce a AED500 million stimulus package to support the local economy, bringing the total worth of stimulus packages announced this year to AED 6.8 billion," Sheikh Hamdan said.
Sheikh Hamdan approved a set of initiatives to exempt private clinics from commercial license renewal fees, extend licenses for existing clinics, and extend licenses for health professionals working in clinics for a period of six months from the date of the license expiration.
Sheikh Hamdan also approved the initiative to support the taxi sector by amending the calculation of franchise fees to enhance the financial liquidity of operating companies.
Sheikh Hamdan said, "The private sector is a major partner in Dubai's development process. We have adopted a set of new exemptions for some fees and a reduction in rents for some sectors, as well as an extension of the validity of a previous set of exemptions from fees.
"We realise the pandemic has imposed great challenges on several business sectors at a global level, and our goal is to fully overcome these challenges locally and accelerate recovery to establish a new phase of economic growth," he added.
Related Topics
Recent Stories
Russia targets Ukraine railways as Western aid due to arrive
Football: French Ligue 1 table
Miner Anglo American rejects BHP's near $39-billion takeover bid
115 held for selling roti at higher rate
New Zealand cricket CEO visits PSCA, expresses satisfaction over security arrang ..
NAB Lahore holds open court, promises compensations for victims
2 injured over money dispute
At least 10 people killed in Brazil fire: officials
'Transforming Punjab Agriculture' plan to help develop farm sector on modern lin ..
Chairman PRCS engages in humanitarian collaboration with ambassador of Morocco
US stocks rebound on tech earnings, London hits new record
Junta-led Burkina Faso suspends BBC, Voice of America for two weeks
More Stories From Middle East
-
UAE announces ‘Zero Bureaucracy Program’ to reduce bureaucracy
3 months ago -
COP28 President-Designate welcomes Transitional Committee agreement to operationalise Loss and Damag ..
6 months ago -
Global Media Congress 2023 to feature Co-Production Majlis as a new networking platform
6 months ago -
Young female athletes shine at Abu Dhabi World Youth Jiu-Jitsu Championship
6 months ago -
King of Jordan receives Abdullah bin Zayed and ministers participating in Arab coordination meeting
6 months ago -
Abdullah bin Zayed participates in coordination meeting of Arab foreign ministers, joint meeting wit ..
6 months ago
-
3rd annual conference of Emirates Society of Clinical Microbiology kicks off in Dubai
6 months ago -
SIBF 2023 hosts Nobel laureate to discuss emergence of ‘Afrofuturism’ in global discourse
6 months ago -
ALC announces winners of Kanz Al Jeel Award 2023
6 months ago -
SIBF turns spotlight on remarkable contributions of women
6 months ago -
Global assets in spot bitcoin ETFs hit $4.16 billion
6 months ago -
Rescuers struggle to find Nepal quake survivors as deaths reach 157
6 months ago