Dubai ruler reveals 6 new incentives for investors

Dubai’s Ruler Sheikh Mohammad Bin Rashid Al Maktoum revealed today through his Twitter account several incentives for business owners and investors in Dubai.

He discussed earlier today with Dubai’s officials ways to boost the local economy through a bundle of investment facilities, laws, and mechanisms aiming to reduce business costs, support registered companies, and attract new investments.

“Developing the competitiveness and agility of our economy is a continuous journey that always aims for the top positions,” he said.

The new incentives include the following:

1) Allocating 20 percent of government tenders to small and medium enterprises (SMEs).

2) Introducing low-cost family travel through Time Share.

3) Setting up a new council of international firms to involve them in economic decision making.

4) Attracting new foreign real estate investment portfolios.

5) Building an aluminum derivatives complex.

6) Accelerating customs clearance procedures through the Block chain technology.