The Dubai government has adopted a new stimulus package worth 1.5 billion dirhams ($ 408 million) to help the emirate’s economy cope with the consequences of the Corona pandemic.
According to Reuters, Dubai’s Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said on his Twitter account:
Under the directives of His Highness Sheikh Mohammed bin Rashid .. We adopted today a new incentive package worth 1.5 billion dirhams, bringing the total incentive packages to 6.3 billion dirhams ... We aim to enhance liquidity Companies and support the continuity of their business and reduce the cost of doing business and facilitate procedures.
This is the third stimulus package announced by the emirate of Dubai, the second largest and wealthiest emirate in the country.
