UAE Federal and emirate governments have launched 100 economic incentives in 45 days – The National

UAE Federal and emirate governments have launched 100 economic incentives in 45 days – The National

UAE Federal and emirate governments have launched 100 economic incentives in 45 days. The number of economic incentives by UAE federal and emirate governments to help the national economy deal with the fallout of the coronavirus pandemic have exceeded 100 in a span of just 45 days, according to the Federal Competitiveness and Statistics Authority.. The measures range from subsidised utility bills to government fee waivers and rent concessions aimed at helping individuals and small and medium-sized enterprises (SMEs) withstand fluctuations in economic conditions.. The Abu Dhabi government launched its own package of financial incentives in coordination with local banks and the emirate's departments of Finance and Economic Development.. The measures aim to provide individuals and SMEs with immediate support and reduce financing costs.. The Department of Finance earlier this week partnered with First Abu Dhabi Bank, Abu Dhabi Commercial Bank and Abu Dhabi Islamic Bank to expand its SME Credit Guarantee Scheme.. In Dubai, the government has introduced economic incentives worth Dh1.5bn for three months and directed local banks to provide a comprehensive support package to clients affected by the pandemic.. Authorities in Sharjah have also launched measures to help some of the hardest hit sectors of its economy..