The Ministry of Economy issued a new list of service fees, which included reducing the fees for 94 services provided by the Ministry to individuals, companies and businesses, in accordance with Cabinet Resolution No. (20) for the year 2020 regarding service fees provided by the Ministry of Economy.
The ministry said in a statement yesterday that the reduction included a wide range of services related to innovation, business activities, investment, production, trade and import and export activities, most notably commercial registration services, commercial agencies, trademarks, origin, auditors and intellectual works, noting the rates of reduction in some services reached 98% .
She added that the financial impact on the business sector, as a result of this reduction, is estimated at 113 million dirhams this year.
The Minister of Economy, Sultan bin Saeed Al Mansoori, said, “Reducing the fees for this wide range of services, and by large proportions of 98% in some services, is an important step to support the business and companies sector in the UAE during the current circumstances.”
He added, "Reducing the fees for services provided by the Ministry of Economy to individuals and companies will contribute to reducing the cost of establishing and doing business in the country, and will reduce the burden on commercial and investment institutions, and those who innovate and innovate."
Reducing fees will contribute to reducing the cost of establishing and doing business in the country.