The Dubai Airport Freezone Authority (DAFZA) on Sunday launched a set of economic incentive packages, which aim to support companies based in the free zone.
This initiative will ensure business continuity across various sectors and will help them mitigate the severity of the economic impact and precautionary measures the world is facing during this time, DAFZA said in a statement.
Financial relief
The initiative includes postponing lease payments for up to three months and facilitating the financial payments into easier monthly installments. It supports retailers operating within the free zone by exempting them from lease payments for a period up to three months. The free zone will refund the security deposits on the leased spaces and labor guarantees to companies and will also exempt new companies from the registration and licensing fees. DAFZA will cancel companies’ fines as well.
“By launching this package we aim to reduce the impact of this crisis on businesses. We stand in solidarity with our companies to overcome the challenges caused by the global spread of Covid-19. This initiative reflects our commitment to providing the ideal environment for them to ensure their business continuity and to help develop and grow their operations despite the fluctuations and global economic conditions,” said Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DAFZA .
Dr. Mohammed Al Zarooni, Director General of DAFZA, said these new incentives reaffirm DAFZA’s continuous efforts to provide all forms of support to its customers and companies based in the free zone. “This initiative comes as a complement to a series of facilities and support services that we provide to companies during this situation, which is affecting their operations and might lead them to difficult conditions in the short and long term. This comes in line with our continuous efforts to support companies under all circumstances, as they are vital to the local and global economy,” said Dr, Al Zarooni.
Preventive measures
DAFZA has taken a set of preventive measures to limit the spread of the Coronavirus within the free zone. A committee for emergency and crises has been formed and is working around the clock to monitor and follow up the operations of the free zone during this difficult period. The committee’s role is to ensure also that all instructions and directives issued by the Ministry of Health and Prevention and other authorities are applied in the free zone.
Gulf News
26/04/2020
