The number of economic incentives, launched by the federal and local governments at the state level, exceeded 100, within 45 days, under emerging conditions, according to a monitoring conducted by the Federal Competitiveness and Statistics Authority.

These incentives included: providing banking facilities to economic sectors, companies, and individuals, granting exemptions, postponing dues, and other facilities whose positive results will appear in numbers during the second quarter of 2020.

Abu Dhabi Government

According to the monitoring, the Abu Dhabi government has adopted a set of financial incentives in coordination with the emirate's banks, and in cooperation with the departments of "Finance" and "Economic Development", to provide immediate support to individuals and small and medium-sized companies, reduce costs related to financing, facilitate access to it, and maintain the flexibility of the local economy. Banking facilities for individuals included: postponing the payment of outstanding installments and interest on loans and credit cards for three months, allowing payment of water and electricity bills in easy installments, and paying tuition fees without interest or fees.

While banking facilities for companies included allocating five billion dirhams to support electricity and water, allocating three billion dirhams to the commercial guarantees program to finance small and medium companies, and one billion dirhams to establish a "market maker fund" in the Abu Dhabi Stock Exchange, and reduce rental service fees 50% for small and medium-sized companies, with Transactions less than five million dirhams, and reduce fees and prices by up to 50% for accounts without a balance.

In terms of governmental financial facilities, it included postponing the bad debts to citizens for a period of three months, stopping the implementation of rental evictions and executive procedures, exemption from fees for renewing licenses and commercial activities, fees for protecting personal data, and exemption from fees for issuing and renewing temporary work permits until 25 March 2021, Exemption from annual fees for investment funds for the end of 2020, the return of fees paid, and a 50% reduction in the regulatory fees for companies subject to the authority to regulate financial services.

Emirate of Dubai

In the Emirate of Dubai, the government announced a package of economic incentives worth 1.5 billion dirhams for a period of three months, with the aim of supporting individuals and the business sector, and enhancing financial liquidity. The Dubai government directed the main banks in the emirate to provide a set of procedures and privileges granted to individuals and companies in the current period.

Among the bank incentives launched by Dubai for individuals: delaying the repayment of loans in cases of work permits without salary for a period of three months without interest or fees, and an increase of 5% of the financing for the value of the property when buying a house for the first time, refunding application fees, and recovering the fees imposed on canceling paid travel tickets With credit and debit cards, cashback debit card refunds from ATMs.

The Dubai government also provided additional facilities, including pumping new capital to Emirates Airlines, deducting 10% of the water and electricity bill for a period of three months, and reducing 50% of the insurance amount, and a package of economic incentives was launched in the free zones, such as postponing payment Rents.

Sharjah government

In turn, the Sharjah government initiated the launch of a package of incentives to support individuals and business sectors, including incentives for the tourism sector, such as exempting hotel establishments from the municipal fees for a period of three months, discounts in fees for various exhibitions during the year 2020, and a 50% discount for shops and commercial centers participating in marketing campaigns, and reducing Rent by 50% for a period of three months inside the airport for restaurants, exchange houses, commercial stores, banks, travel agencies, telecommunications companies, tourism promotion and rental cars, exemptions from fees, and exempting investors dealing with the Department of Planning and Survey from the payment of dues For a three-month contractual contract and exempt economic establishments.

Ajman government

The Ajman government has activated the economic support decisions taken by the federal government, and initiated the adoption of a package of initiatives to reduce the burden on individuals and economic activities, most of which revolve around the complete exemption of fees for some government services, and the reduction of others.

Ras Al-Khaimah Government

In addition to implementing the support packages announced by the federal government, the Ras Al Khaimah government launched a set of direct incentives, such as three-month rent exemptions, the postponement of government fees for individuals and companies, as well as some other incentives through the Ras Al Khaimah economic areas.

The governments of Umm Al Quwain and Fujairah

The initiatives of the governments of Umm Al Quwain and Fujairah centered around activating the packages launched by the federal government, in addition to launching local initiatives, which depend on exempting the establishments from the fees due, such as fees for renewing licenses, fees for renewing or ratifying rental contracts, and other fees and fines, and reducing many government fees Others, for periods ranging from three months to the end of 2020, reduced traffic fines, and exemptions from rents to tenants in shopping centers.