Dubai announces Dh500m to support local economy

Dubai Government on Saturday announced an additional Dh500 million stimulus package to help local economy subsist with the impact of the Covid-19 pandemic and to have economic recovery.

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This took the total stimulus package announced by government to Dh6.8 billion this year, said Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council.

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Dh500-million stimulus initiative covers advertising permit fee reduction for all companies registered with the Dubai Municipality for three months; six-month licence extension for nurseries, clinics and healthcare professionals. There will be 50 per cent rent reduction for nurseries from the Knowledge Fund Establishment; licence renewal exemption for all nurseries in Dubai; and taxi concession fees reduction to enhance liquidity in the department.