Abu Dhabi will exempt all businesses issued new economic licences by the emirate from local fees for two years as it boosts its competitiveness and looks to attract investors.
The resolutions will come into force starting December 1, UAE state news agency WAM reported.
The Abu Dhabi Executive Council also approved a decision to cancel 75 municipality services fees and reduce the cost of 23 municipality fees by 10 to 50 per cent, according to a tweet by Abu Dhabi's Office of Government Communication.
"These decisions come with the aim of bolstering the competitiveness of the business environment and improving it in a way that attracts companies and institutions and developing the partnership with the private sector," it said.
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Why Sheikh Mohammed's new economic plans are a game changer for Abu Dhabi
Crown Prince reveals Tomorrow 2021 plan for Abu Dhabi's economy including Dh20bn for spending next year
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The decision comes as part of a series of reforms under the "Ghadan 21" or Tomorrow 2021, a three-year Dh50 billion programme aimed at stimulating investment, creating jobs and boosting economic growth.
The UAE announced a series of new policies this year aimed at reforming the economy and reducing reliance on oil revenues. These include changes to the country’s sponsorship system and new regulations that permit companies to operate without a physical office. The Tomorrow 2021 plan has 50 initiatives to stimulate investment and job creation. It aims to slash red tape for businesses and boost investor confidence in the emirate’s economy.
The International Monetary Fund raised its forecast for the UAE's economic growth this year and next on expectations that oil production and government spending will increase.
The Gulf nation's economy is projected to expand 2.9 per cent this year and 3.7 per cent in 2019, the IMF said in October.
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
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APPLE IPAD MINI (A17 PRO)
Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits
Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine
Storage: 128/256/512GB
Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4
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In the box: iPad mini, USB-C cable, 20W USB-C power adapter
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PREMIER LEAGUE RESULTS
Bournemouth 1 Manchester City 2
Watford 0 Brighton and Hove Albion 0
Newcastle United 3 West Ham United 0
Huddersfield Town 0 Southampton 0
Crystal Palace 0 Swansea City 2
Manchester United 2 Leicester City 0
West Bromwich Albion 1 Stoke City 1
Chelsea 2 Everton 0
Tottenham Hotspur 1 Burnley 1
Liverpool 4 Arsenal 0
Company%20profile
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The rules on fostering in the UAE
A foster couple or family must:
- be Muslim, Emirati and be residing in the UAE
- not be younger than 25 years old
- not have been convicted of offences or crimes involving moral turpitude
- be free of infectious diseases or psychological and mental disorders
- have the ability to support its members and the foster child financially
- undertake to treat and raise the child in a proper manner and take care of his or her health and well-being
- A single, divorced or widowed Muslim Emirati female, residing in the UAE may apply to foster a child if she is at least 30 years old and able to support the child financially
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
COMPANY PROFILE
Name: Lamsa
Founder: Badr Ward
Launched: 2014
Employees: 60
Based: Abu Dhabi
Sector: EdTech
Funding to date: $15 million
