The UAE Ministry of Economy has decided to reduce fees for 94 services provided by the Ministry to individuals, companies and the business sector ..


According to the Emirates News Agency, the reduction included a wide range of services related to innovation, business activities, investment and production, trade and import and export activities, the most prominent of which are commercial registration services, commercial agencies, trademarks, origin, auditors and intellectual works, and the rates of reduction in some services have reached 98%.


The financial impact on the business sector as a result of this reduction is estimated at 113 million dirhams in 2020.


His Excellency Sultan bin Saeed Al Mansoori, Minister of Economy, said that reducing the fees for this wide range of services and large proportions of up to 98% in some services, is a distinct and important step to support the business and companies sector in the UAE during the current circumstances and represents a prominent addition to the matrix of measures and measures taken by the government of the state The UAE and local governments to face the repercussions of the spread of the new Corona virus on the national economy and the business environment in the country


His Excellency added: Reducing fees for services provided by the Ministry of Economy to individuals and companies will reduce the cost of establishing and conducting business in the country and will reduce the burden on commercial and investment institutions and owners of innovations and creativity who wish to benefit from intellectual property services in the ministry, which serves to support the main and affected sectors and motivate The economic environment and ensuring the sustainability of the pilot structure of the national economy and business continuity.


His Excellency stressed that the Ministry of Economy and its partners in the temporary committee to deal with the negative effects of the national economy as a result of the spread of the new Corona virus work around the clock to monitor the market situation and developments in the business environment and the development of urgent solutions as well as medium and long-term incentive plans that ensure the protection of economic gains and accelerate the economic recovery.