Dubai has approved economic facilitation package worth 1 billion dirhams ($272.26 million) to support business sector, with implementation set to begin on April 1 for a period of three to six months, Dubai crown prince posted on X on Monday.
The support measures aim to enhance the flexibility of the emirate’s economy, strengthen preparedness and enable businesses and families to navigate current economic conditions.
“I chaired the meeting of the Executive Council today, and we approved facilities for the economic sector in Dubai worth one billion dirhams, to begin their implementation as of April 1st for a period of three-six months, which strengthens the flexibility of the Emirate’s economy, raises the level of readiness, and ensures the speedy response to the requirements of the current stage,” wrote Al Maktoum on his Facebook page.
Crown Prince of Dubai Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum stated that the measures are taken to alleviate financial pressures, enhance economic flexibility, and support businesses and families amid the current economic challenges in the Facebook post.
Al Maktoum is also the chairman of the executive council of Dubai, and the announcement comes as Gulf policymakers respond to the impact of the war involving the US, Israel, and Iran, which has heightened uncertainty across regional markets, disrupted airspace, and has strained key shipping corridors and raised concerns over the security of vital energy outlets such as the Strait of Hormuz.
Read more: UAE Bans Iranian Nationals, Pushes UN Action as Gulf Tensions Escalate Over Strait of Hormuz
Earlier this month, the Central Bank of the UAE rolled out a financial resilience package to the support banks, including easier access to liquidity, temporary relief on funding, and capital buffers and flexibility for loan classifications. In order to safeguard the financial stability, Qatar Central Bank also allowed its banks to defer loan payments and boost liquidity support as war escalates in the region. The UAE package includes economic incentives like deferring various government fees for three months, including allowing hotels to postpone paying 100% sales fees to boost liquidity and hospitality and tourism state news agency reported.
The state news agency also reported that customs data grace period will also be extended from 30 to 90 days with possible further extension. The package also streamlined the issuing and renewing of residency permits, making it easier for talent to live and work in Dubai. During the meeting, Al Maktoum and officials also reviewed Dubai’s economic performance for 2025 and growth reaching 5.4% on gross domestic product exceeding 937 billion dirhams.
