Dubai reveals additional stimulus package worth Dhs1.5bn to support businesses

Dubai reveals additional stimulus package worth Dhs1.5bn to support businesses

Zainab Mansoor

Sunday 12 July 2020

Dubai launches its 3rd stimulus package

Dubai has introduced its third stimulus package worth Dhs1.5bn to mitigate the impact of the Covid-19 pandemic on businesses.

The stimulus package aims to support small and medium enterprises (SMEs) and a number of strategic sectors to maintain business continuity by alleviating operational costs.

Under the directives of @HHShkMohd, Dubai launches its 3rd stimulus package to ease the impact of the COVID-19 crisis on businesses. Worth AED1.5 billion, the new package raises the value of business incentives introduced by Dubai gov't to AED6.3 billionhttps://t.co/GJrdA0zJud pic.twitter.com/Em0INQrS6E

“” Dubai Media Office (@DXBMediaOffice) July 11, 2020

The new package ramps up the value of business incentives introduced by Dubai in the recent past to Dhs6.3bn, Dubai Media Office reported.

The first stimulus package announced by the Dubai government was worth D1.5bn while the second was valued at Dhs3.3bn.

Read: Coronavirus: Dubai reveals Dhs1.5bn stimulus package to support businesses

"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 their growth momentum as soon as possible,“ said