The Dubai Airport Freezone Authority, DAFZA, launched a set of economic incentive packages to support companies based in the free zone, in order to ensure business continuity across various sectors and help them mitigate the severity of the economic impact and precautionary measures the world is currently facing.
The initiative includes postponing lease payments for up to three months and facilitating financial payments into easier monthly installments. It also supports retailers operating within the free zone by exempting them from lease payments for a period of up to three months. The free zone will refund security deposits on leased spaces and labour guarantees to companies, as well as exempt new companies from registration and licencing fees. DAFZA will also cancel fines issued to companies.
Regarding these steps, H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DAFZA, said, “This initiative reflects our commitment to provide the ideal environment for companies to ensure business continuity and help develop and grow their operations, despite the fluctuations and global economic conditions. This package will support companies through these exceptional circumstances, which have unexpectedly affected various businesses sectors and activities.
“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,” he added.
Dr. Mohammed Al Zarooni, Director-General of DAFZA, praised the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, which affirms the commitment to strengthening the emirate of Dubai and the UAE’s standing as a global hub for companies to grow and prosper.
The information is extracted from the Emirates News Agency Website
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