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
UAE, Tunisia launch CEPA negotiations
Google charged with breaching EU rules, Apple told to open up to rivals
Dubai Land Department trials 'Real Estate Tokenisation Project'
BYD unveils new 5-minute super-charging EV tech
Abu Dhabi agrees multi-year Microsoft-G42 partnership
