Dubai: Cost of doing business set to be reduced further

SourceKhaleej Times

Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council has issued directives to reduce government procedures for doing business by 30%. The directives will be implemented within the next three months and the move is part of efforts to reduce the cost of doing business and further boost economic growth in the emirate. Sheikh Hamdan issued the directives on June 9, at a meeting chaired by him, which also evaluated various measures being taken to promote economic and business recovery and simplify and reduce procedures for the business sector that will help enhance Dubai’s competitiveness and investment attractiveness.

The move to reduce government procedures for doing business by 30 per cent is part of strategic initiatives to accelerate economic recovery and enhance Dubai’s status as a business hub. Dubai’s wide-ranging support measures since the onset of the pandemic, especially its five stimulus packages worth Dh7.1 billion, helped the private sector ease financial pressures and reduce operating costs and ensure the impact of the pandemic did not translate into long-term challenges. more...