An economic incentive package has been announced by the Dubai Airport Freezone Authority (DAFZA) to support businesses affected by the COVID-19 pandemic.
The initiative includes postponing lease payments for up to three months and introducing monthly installment plans for settling financial dues.
The free zone is also cancelling fines issued to companies in addition to refunding their security deposits on leased spaces and labour guarantees.
Meanwhile, new firms are being exempted from registration and licensing fees.
"DAFZA is a key partner for many companies operating in more than 20 vital sectors within the free zone. This package will guarantee continuity and commercial movement within the free zone," said H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DAFZA.
.@DAFZAOfficial launches incentive packages to support companies operating in the free zonehttps://t.co/KhVqmRpwKc pic.twitter.com/HxsVq9X4bs
— Dubai Media Office (@DXBMediaOffice) April 26, 2020
Abu Dhabi boosts transparency, governance in real estate sector
Dr. Sultan Al Jaber dedicates leadership award to UAE President, frontline workers
Dubai achieves highest-ever ranking in Global Financial Centres Index
Stocks gain with oil prices easing on optimism from possible ceasefire talks
Australia moves to double fines for fuel gouging amid shortages
