The UAE Ministry of Economy cancelled fees on more than 100 government services and reduced the charges for others as the second-biggest Arabian Gulf economy continues to lower the cost of doing business.
The ministry has amended the fee and fine structure for 110 services, cancelling fees of 102 and reducing them for eight services by as much as 50 per cent, state news agency Wam said. The initiative is part of the Cabinet Resolution No. (51) of 2019, will and will be implemented on the services extended by ministry’s customer happiness centres and through its website, it added, without giving details of the services on which fees no longer apply.
The amended fees constitute 47 per cent of the total fees levied by the ministry, Wam cited Minister of Economy Sultan bin Saeed Al Mansouri as saying.
The latest amendments will provide a boost to the business community in the country as the cost of conducting trade and investment activities will drop for both Emiratis and resident business owners, including large, medium and small enterprises.
The move, the minister said, is part of his ministry’s drive to create a business-friendly environment where private sector companies can grow and flourish.
”The latest move comes within a series of policies and resolutions decided by the federal and local governments to stimulate and strengthen economic growth, provide new incentives to increase the attractiveness of the local business climate, generate more job opportunities and promote the UAE as a favoured investment destination which supports economic growth and advances UAE rankings on the global competitive indexes,” he noted.
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