The UAE Cabinet, chaired by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, will alter and waive fees for several federal services to help cut costs for business owners and further strengthen the environment for foreign direct investment.
Amendments and cancellations will be made on fees for more than 1,500 government services that are provided by the UAE’s Ministry of Interior, Ministry of Economy, and Ministry of Human Resources and Emiratisation.
The #UAE Cabinet adopted a decision to amend and waive fees for more than 1500 government services, within the framework of Government’s effort to enhance the national economy, reduce costs to business owners and increase the competitiveness of the UAE.https://t.co/zULd3C509F pic.twitter.com/CzYdfvxWs2— Dubai Media Office (@DXBMediaOffice) May 28, 2019
According to a report by UAE state news agency, Wam, foreign investment in the UAE is projected to grow by 20% in 2019.
By reducing administrative costs and fees, the Cabinet expects to position the UAE as a hub for business and balance the government’s revenue system in line with its tax system.