Coronavirus: Dubai announces economic stimulus for free zones

The Dubai International Financial Centre (DIFC) in Dubai, UAE. (File photo: Reuters)

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.

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Last Update: Wednesday, 20 May 2020 KSA 09:57 - GMT 06:57
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