His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has approved a Dh50 billion economic stimulus package for Abu Dhabi, aimed at accelerating the economic growth over the next three years.
Sheikh Mohamed also launched ten new economic initiatives to improve the ease of doing business in Abu Dhabi and enhance the work experience for UAE nationals, residents and investors alike.
Sheikh Mohamed instructed the Executive Committee of the Abu Dhabi Executive Council to draw a detailed execution plan for the stimulus package within 90 days.
Aimed at boosting the competitiveness of Abu Dhabi's private sector, the plan will comprise a set of initiatives, covering infrastructure and legislative projects, as well as SMEs, and industrial and social projects.
Under the guidance of HH Sheikh Khalifa bin Zayed, I have approved a 3-year AED 50bn economic stimulus package to support Abu Dhabi’s economic development and have tasked the Executive Council’s Executive Committee to draw up a working plan for allocations within 90 days.
— محمد بن زايد (@MohamedBinZayed) June 5, 2018
I have instructed that new licenses be exempted from the requirement of having a physical presence for two years, to permit permanent home licenses, and to implement instant licensing systems in most commercial licence types and all services provided by Abu Dhabi Government.
— محمد بن زايد (@MohamedBinZayed) June 5, 2018
I have instructed that new licenses be exempted from the requirement of having a physical presence for two years, to permit permanent home licenses, and to implement instant licensing systems in most commercial licence types and all services provided by Abu Dhabi Government.
— محمد بن زايد (@MohamedBinZayed) June 5, 2018
I’ve instructed to accelerate the settlement of due payments on contracts for the private sector, to review all fines for the healthcare, education & municipalities’ affairs sectors, and to form a committee by the Executive Office and the Department of Finance to oversee this.
— محمد بن زايد (@MohamedBinZayed) June 5, 2018
Sheikh Mohamed also launched a number of initiatives aimed at promoting the ease of doing business in Abu Dhabi, reducing associated costs, and implementing the necessary procedures to facilitate commercial and investment activities in all fields. This includes exempting all new licenses from the requirement of having an office or a work space in the Emirate for two years, permitting permanent home licenses, and implementing instant licensing systems in most commercial license types and all services provided by the Government.
Additionally, Sheikh Mohamed gave directives to accelerate the settlement of due payments on contracts for suppliers from the private sector, and to review all fines for the healthcare and education sectors, as well as all municipalities' affairs. The directives also include the formation of a special committee, headed by the Executive Office and the Department of Finance, to oversee all relevant and related procedures.
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