The UAE’s Abu Dhabi introduced an AED 50bn stimulus package, which includes the establishment of Ghadan, to identify new technologies and investments, as well as issuance of licenses that will exempt the requirement of having an office or work space for two years. Businesses are likely to benefit: cost-cutting reviews are expected later this year, and plans are underway to allow dual licences for companies in Abu Dhabi free zones.
Separately, Dubai also announced a series of initiatives including freezing private school fees for the 2018-19 academic year, waiving the 4% late-payment fine for property registrations for 60 days, reducing the “market fee” imposed by Dubai Municipality by half to 2.5%; the government will also scrap 19 fees related to the aviation industry.
In this interview, Dr. Nasser Saidi touches upon these measures and its impact on businesses and the economy.
The interview (in Arabic), telecast on 10th June 2018, can be viewed below and here.