Stimulus fortifies Dubai resilience
dubai — The Dh6.3 billion economic stimulus packages launched by the Dubai Government in three phases have contributed significantly in helping businesses navigate the challenges posed by the Covid-19 pandemic, Dubai Economy said on Wednesday.
Mohammed Shael Al Saadi, CEO of Corporate Strategic Affairs at Dubai Economy, said the threephased stimulus programme also demonstrated the leadership’s efforts to preserve Dubai’s global investment environment, in addition to its swift response to contain the pandemic fallout and to revitalise and reset the economy.
Addressing the 6th Market Dialogue titled ‘The Dh6.3 billion opportunity for business in Dubai,’ Al Saadi said the first package included 15 initiatives worth Dh1.5 billion to support companies and the business sector in Dubai, enhance financial liquidity and mitigate the effects of unprecedented economic circumstances globally. The virtual dialogue was held a day after Dubai Economy launched ‘The Great Economic Reset Programme’ as part of efforts to get in more resilience into the local economy in a “post-pandemic future.”
The sectors targeted in the first package included tourism, retail, foreign trade, and the logistics sectors, in addition to a set of incentives for all citizens and residents of the emirate.
10%
Blanket discount was offered on Dewa utility bills of corporate entities and businesses
Dubai is monitoring the economic situation closely and following up on the most important developments
Mohammed Shael Al Saadi,
CEO of Corporate Strategic Affairs in Dubai Economy
dubai — Dubai has retained its position as the only city in the Middle East to rank among the world’s top five destinations for maritime industry for the third consecutive year, according to a global shipping industry index.
The latest recognition once again underscores the competitiveness, attractiveness and inclusiveness of Dubai’s local maritime environment, which can be compared to the best in the world.
The International
Shipping Centre Development Index ranked
Dubai ahead of Rotterdam, Hamburg, Athens, New York, New Jersey and Tokyo.Singapore has retained the top spot as international shipping centre for the seventh consecutive year.
“The latest accolade is the outcome of the unwavering support provided by the wise leadership, in addition to the joint efforts undertaken by the public and private sectors to enhance the components of the maritime sector, to match the best in the world,” said Sultan Ahmed bin Sulayem, chairman of Dubai Ports, Customs and Free Zone and Chairman, Dubai Maritime City Authority.
The latest accolade is the outcome of the unwavering support provided by the wise leadership