UAE Government Support

The National Crisis & Emergency Management Authority, the Emirates Red Crescent and other charitable organizations and societies in the UAE have unified their efforts to combat the coronavirus, COVID-19, pandemic by contribution their efforts to “The Fund of the United Arab Emirates: Homeland of Humanity”.
The Fund will receive financial and in-kind donations by individuals and organizations in addition to other contributors, including facilities, essential utilities and different types of supply chain management charities across the nation. A mechanism to regulate these donations has been established to unify all anti-COVID-19 efforts.

The Federal Cabinet aims to take measures to support the national economy, ensure businesses continuity, and mitigate the coronavirus impact by setting up a government committee to circumvent the negative impact on businesses and the economy of UAE after the COVID-19 lockdown and put into
place preventive measures announced by Abu Dhabi, Dubai and the Central Bank of UAE. The initiative of this committee which shall put into place the measures shall be headed by the Ministry of Economy (MoE) and intends to support business in various schemes and measures for which the budget is totaled
at AED 126.5 Billion from the Government of UAE.

The MoE with the assistance of other supporting relevant bodies shall propose measures to limit the economic downturn on businesses and individuals faced with the outcome of the bleak financial circumstances post COVID-19.

The committee shall also be required to assess the real impact of these measures and how they would help the businesses or individuals in a practical sense and if the same require to be amended in future to have more of a beneficial impact on the national economy and weekly reports of the same shall be discussed by the committee.

DMCC announced the roll-out of a Business Support Package to support its business community, as well as new companies to navigate the current economic environment.

The benefits are applicable as of 1st April, 2020 until 30th June, 2020, includes a range of discounts and waivers to support the current economic initiatives taking shape by all government authorities to support business and financial sectors.

Measures applicable to DMCC’s existing 17,000 member companies include the following:

• a 100 percent waiver for late license renewal penalties;
• 100 percent waiver for all Flexi Desk and DMCC Business Centre penalties until the end of 2020;
• 100 percent waiver of the Office Sharing Permit fee;
• 100 percent waiver of the Company Reinstatement fees;
• 30 percent discount on license renewal;
• waiver of outdoor area rents for JLT retailers with existing contracts where DMCC is the building
  owner/landlord;
• waiver of rent for two months for commercial establishments impacted by the latest Dubai
  Economy directive requiring a temporary closure where DMCC is the building owner/landlord;
  and
• three-month suspension of rent for Flexi Desk and DMCC Business Centre tenants renewals or
  monthly/quarterly instalments with no discount.

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References:

https://gulfnews.com/business/banking/covid-19-abu-dhabi-banks-offer-loan-and-financial-relief-to-customers-affected-by-coronavirus-1.70615097
https://www.arabianbusiness.com/retail/443830-coronavirus-nakheel-unveils-626m-relief-package-for-customers
http://www.wam.ae/en/details/1395302832872
http://wam.ae/en/details/1395302833253
http://wam.ae/en/details/1395302833143