Economic stimulus packages 2020

26/10/2020 Finance and investment | His Excellency Abdullah Ahmad Al-Hamrani

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The corona pandemic has inflicted damages globally on the business community in various sectors. It has caused a temporary suspension of a number of economic activities, including events, and the normal movement of trade. The world is responsible for their actions, they have launched initiatives to reduce the economic effects of the global crisis due to the repercussions of the outbreak of the pandemic on these sectors, and to enable them to overcome the current stage.

 

The government of the Emirate of Ajman, including the Department of Economic Development, have announced packages of economic ease and incentives. They assisted economic establishments that had temporarily stopped their activities during the crisis, in implementing the precautionary measures and have exempted them from license renewal fee for a period of one year on 12 different activities. 1884 establishments benefitted from this exemption.

 

The suspension of the fines for delaying the renewal of licenses and warehouse permits was extended until the end of the year. A number of other new services were launched to keep pace with the changes, such as freezing a license, administrative cancellation service, and a leadership program for practicing economic activities inside homes to facilitate the owners of projects and establishments and to support their participation in the growth of the local economy.


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