Dubai announces new economic stimulus package worth Dhs1.5 billion – Gulf Today

Dubai announces new economic stimulus package worth Dhs1.5 billion – Gulf Today

Dubai announces new economic stimulus package worth Dhs1.5 billion

an hour ago

Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum.

Business Bureau, Gulf Today

Under the directives of Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Dubai has launched its third stimulus package to ease the impact of the COVID-19 crisis on businesses. Worth Dhs1.5 billion, the new package raises the value of business incentives introduced by the emirate's government in the past few months to Dhs6.3 billion.

The first stimulus package announced by the Dubai government was worth Dhs1.5 billion while the second was worth Dhs3.3 billion.

Crown Prince and Chairman of The Executive Council of Dubai Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum emphasised the Government of Dubai's commitment to continue supporting all economic sectors in overcoming the repercussions of the COVID-19 pandemic.

The government has launched many initiatives to support business sectors across the economy.

"Our economy is strong, has a stable foundation and has shown high resilience to crises, all of which enable us to effectively navigate any global challenge. We stand together with the private sector to overcome the impact of the pandemic. We are keen to help businesses renew