Dubai government continues to study dimensions of the current situation and its developments in light of the exceptional circumstances the world is going through, according to Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai Crown Prince and Chairman of the Executive Council.
It aims at developing practical strategies that allow it to efficiently and effectively address these circumstances and contain the pandemic’s repercussions on the business and economic environment in the emirate.
According to the Crown Prince, the Dubai government’s efforts are in line with directives of Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, that seek to mitigate the effects of the global crisis, provide the necessary constituents for business continuity, accelerate the pace of recovery to preserve economic gains, and benefit the most of all opportunities in the post-pandemic period.
Dubai will continue to harness all resources and capabilities to be the most city prepared for the future and the most attractive to investments, he stressed.
“In implementation of the directives of Sheikh Mohammed bin Rashid Al Maktoum, we approved today a fifth package of economic incentives to support a number of economic sectors in Dubai and push forward our development process in preparation to the next phase of development,” Sheikh Hamdan noted, affirming that the leadership in advancing with confidence towards recovery and the return of normal life in Dubai.
“Despite the challenges posed by the pandemic at the global level, the economic situation in Dubai is in constant improvement.”
“We have the required constituents that bolster our ability to achieve leadership, and this has been reflected in the rapid pace of recovery of various economic sectors and activities,” he explained, adding that while overcoming the effects of the current global situation, the next phase will carry new opportunities that will enable entrepreneurs and investors to benefit from.
The value of the new economic incentives package approved by the Crown Prince has amounted to AED315 million ($85.7 million) based on the recommendations submitted to him by the Dubai Economy Support Committee headed by Sheikh Ahmed bin Saeed, second Deputy Chairman of the Executive Council, to continue supporting various economic sectors.
