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Dubai adopts economic stimulus package for companies in free zones

Dubai adopts economic stimulus package for companies in free zones
The package includes postponing the rent period for up to six months

Dubai – Mubasher: Dubai has launched the second economic stimulus package to support companies at Dubai Free Zones and mitigate the effects of the current economic situation, namely for small and medium-sized enterprises (SMEs), according to Dubai government media office.

Under the directives of Sheikh Mohammed bin Rashid Al Maktoum, vice president and prime minister of the UAE and ruler of Dubai, the package includes postponing rents for up to six months, cancelling fines for companies and individuals, and refunding security deposits.

With 44,985 companies, Dubai Free Zones Council will also facilitate instalments for payment and provide temporary contracts for the free movement of labour among the companies in the free zones. 

Commenting on the new package, The Chairman of Dubai Airport Free ZoneSheikh Ahmed bin Saeed Al Maktoum, said: "Ensuring the business continuity of companies and providing them the support they need are critical to the Dubai economy’s ability to successfully overcome the crisis.