Within the framework of the measures that support the various business sectors that the Dubai government is adopting in the face of the repercussions of the crisis of the emergence of the emerging corona virus (Covid-19), with its consequences that burdened most of the economies of the world, and in line with the stimulus package announced before the period of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of the Executive Council, the Dubai World Trade Center Authority revealed a series of measures aimed at achieving sustainability for all businesses of its partners.
His Highness Sheikh Ahmed bin Saeed Al Maktoum, Vice-Chairman of the Dubai World Trade Center Authority, announced a comprehensive support program to cover the main business sectors related to the authority of the Dubai World Trade Center, which includes the events sector, the free zone, retail stores and commercial real estate, while providing assistance Effective necessary to meet the immediate challenges faced by customers and merchants, especially the most affected business.
His Highness said: “Dubai’s economy has great flexibility and resilience in the face of extreme and unpredictable global fluctuations. Dubai will continue to lead and direct the directions of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God preserve him, to provide urgent measures and harness efforts Collective government, companies and society, to ensure economic and social stability in the current situation. "
Full support
The Dubai World Trade Center Authority confirmed its commitment to provide all support to its customers, suppliers and partners, especially the emerging and mid-sized community and entrepreneurs, as the authority works collectively and in a team spirit to deal with the negative effects of the Corona epidemic on the global economy.
The Authority has worked with all of its strategic partners during the past weeks to support sectoral needs, through a set of measures aimed at further reducing the financial burdens, to enable business continuity and operational sustainability of companies operating within the free zone.
The program of exceptional measures for the authority of the Dubai World Trade Center to confront the Corona virus covers a range of measures to provide immediate assistance in particular to small companies and key sectors related to business tourism and events, as it has already begun to implement a large part of them to ensure the rapid return of commercial and economic activity back to its previous momentum from the momentum Strong throughout the year, as the program includes the following measures:
1. Events sector:
a. For the organizers - exemption from fees for canceling events and / or that have been rescheduled, canceling fines for late payment, and allowing posting of fees paid as a credit for the year 2021.
B. For exhibitors (exhibitions organized by the Dubai World Trade Center) - a full refund of the cost of participation in canceled exhibitions, or whether the new date scheduled for their establishment does not suit the participants.
2. Retail sector tenants:
3. Exemption from rent for a period of up to 6 months [from April - to September 2020] retailers at the Dubai International Convention and Exhibition Center, One Central, who were affected by the restrictions of mandatory closings
4. Tenants from Startups and Medium Enterprises:
a. Postponing the lease of commercial tenants in the Dubai World Trade Center authority to a period of up to 3 months [from April to June 2020]
5. Working in Free Zone companies [valid for three months, starting from April 1 to June 30, 2020]:
a. 70% discount on annual company registration and licensing fees for all special categories [new and renewed].
B. 50% discount on general commercial licenses fees and registration fees.
C. Eliminate administrative expenses on all new visas, their transfer and renewal
The previous measures aim to support companies operating within the authority of the Dubai World Trade Center, so that they can better manage fixed operating costs and liquidity, in light of the cessation of activity resulting from strict public health restrictions and the closure of companies.
In this context, Hilal Saeed Al Marri, Director General of the Dubai World Trade Center Authority and the Department of Tourism and Commercial Marketing in Dubai, said: “Guided by the wisdom of my Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God bless him, when he announced that "The new Corona virus is an economic virus as well as a healthy virus", and that "the need is very necessary for unity and cooperation to protect our economy and combat this global catastrophe with confidence", the Dubai World Trade Center expresses its gratitude for the continued support of our wise leadership, and our board of directors in providing Critical and urgent measures and solutions to Business support. "
Al Marri added, “Dubai World Trade Center, as a fundamental pillar in the business tourism industry in Dubai, works to help partners deal with the current risks of Covid 19 virus, and to maintain financial sustainability and business continuity in these temporary conditions until things return to normal. In this context, the measures announced today aim to support the cost of doing business for the sectors most affected in the free zone of the Dubai World Trade Center authority, especially small companies and events workers, and provide the necessary assistance to each of our customers and partners. Of our suppliers. "
“As we work towards an active recovery and accelerate the economic contributions of the business tourism sector to Dubai’s GDP, we will continue to place the health and safety of our employees and our community as the top priorities, and these principles will remain a key part of our core values as an organization that is grateful for the great confidence that We have it, as we work together to confront this global crisis