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Hamdan bin Mohammed chairs Executive Council meeting, approves series of economic stimulus

07.06.2018

Crown Prince of Dubai and Chairman of The Executive Council of Dubai H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum chaired today the Council’s meeting, which took place at Emirates Towers.

The meeting reviewed a number of topics in the presence of Deputy Ruler of Dubai and First Deputy Chairman of Dubai Executive Council His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, and Second Deputy Chairman of The Executive Council His Highness Sheikh Ahmed bin Saeed Al Maktoum.

The Council approved the first batch of suggestions that aims to slash government fees as part of the directives of Vice President, Prime Minister if the UAE and Ruler of Dubai H.H. sheikh Mohammed bin Rashid Al Maktoum, that aims to reduce the cost of doing business in Dubai, and further cement position as destination of choice for investments.

The board members also reviewed the objectives of the strategic programs along with the time frame of execution. The new policy aims to stash “market fees” imposed by Dubai Municipality from 5% to 2.5%, in addition to scrapping 19 fees related to aviation industry, as Dubai aims to attract foreign investments worth more than AED1 billion in the aviation sector.

The Council also directed Land Department to waive late payment fees on property registration imposed by Dubai Land Department for 60 days which used to be 4%.

The Council also put a freeze on school fees for 2018-2019, where all private school won’t be allowed to increase the school fees during the next academic year.