Dubai announced an economic incentive package for its free zones on Saturday in the light of “exceptional circumstances” related to the coronavirus pandemic.
The measure consists of five parts, including postponing rent payments for six months and cancellation of some fines for companies and individuals, the state-run Emirates News Agency reported. The city is home to a number of free zones, including the Dubai International Financial Center (DIFC).
The United Arab Emirates previously rolled out a $34 billion stimulus package to fend off the impact of the coronavirus. The Gulf nation has reported 468 virus cases so far, including two fatalities.
Read more:
Coronavirus: Gulf countries pledge over $120 bln stimulus to combat fallout
UAE approves additional $4.36 bln for coronavirus economic stimulus package
UAE central bank stimulus will ‘soften coronavirus’ blow to economy:’ Moody’s
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