Check out the 16 urgent government decisions in Abu Dhabi to support the economy and society

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Check out the 16 urgent government decisions in Abu Dhabi to support the economy and society

Check out the 16 urgent government decisions in Abu Dhabi to support the economy and society
Check out the 16 urgent government decisions in Abu Dhabi to support the economy and society

According to the directives of His Highness Mohammed bin Zayed Al Nahyan, the Executive Council launched a package of new initiatives within the program of Tomorrow 21 aimed at preserving Abu Dhabi's economic gains and supporting the private sector, while giving priority to emerging companies, these desicions are:




First: allocating 5 billion AED to support electricity and water for citizens and both the commercial and industrial sectors.

Second: Support the electricity connection fees for startups until the end of the year.

Third: Obstructing all commercial and industrial activities from real estate registration fees for this year.

Fourth: Pay all agreed governmental obligations and bills to companies within 15 days.

Fifth: The allocation of 3 billion dirhams to the credit guarantees program to stimulate the financing of small and medium companies, through local banks, which is managed by the Abu Dhabi Investment Office with the aim of enhancing the ability of these companies to pass the current market environment.

Sixth: allocating one billion dirhams to establish the Market Maker Fund to provide liquidity and find a continuous balance between supply and demand for shares.

Seventh: Drop all current commercial and industrial violations.

Eighth: All vehicles are exempt from traffic tariff gates until the end of the year.

Ninth: Form a committee headed by the Finance Department and a membership of the Department of Economic Development and local banks, to monitor borrowing programs for local companies in Abu Dhabi under the current circumstances.

Tenth: Provide a cash back up to 20% of the rental value for the restaurants, tourism and entertainment sectors.

Eleventh: Cancellation of all tourist and municipal fees for the tourism and entertainment sectors for this year.

Twelfth: Exempting commercial vehicles from registration fees until the end of the year.

Thirteenth: Cancellation of real estate registration fees for this year.

Fourteenth: Stopping work on tender guarantees to reduce the financial burdens on companies, and preventing startups from the well-executed fee for projects that coast 50 million dirhams.

Fifteenth: Cancellation of the “Tawtheeq” fees for this year for commercial and industrial activities.

Sixteenth: Reducing the fees for renting industrial lands by 25% for new contracts.



Sources:

Arab News


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