AED16 billion added to UAE's economic stimulus package

twitter/(@HHShkMohd)

The UAE will be adding AED16 billion to its economic stimulus package.

That’s according to His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, who chaired a cabinet meeting remotely on Sunday.

Sheikh Mohammed clarified that this will bring the total amount for the economic stimulus package to AED126 billion in the country.

His Highness explained that new measures and procedures will be adopted in order to reduce business set-up fees and support SME’s in the Emirates.

Sheikh Mohammed revealed that these measures will also help “expedite the implementation of major government infrastructure projects.

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