Dubai economic package to boost investments, job growth

Dubai: Government of Dubai has called on government departments to work on a comprehensive reform package to boost business confidence and economic growth in the Emirate.

Stimulus plans include proposals to allocate 20 per cent of government tenders to small and medium-sized businesses, developing low-cost family tourism systems through a timeshare basis, and enact a mortgage law to enhance demand and prices in the real estate sector.

Government officials, analysts and business leaders expect a proactive move from the government to support private sector will go a long way stabilising and building on the growth momentum.

“The initiatives launched by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, to reduce cost of doing business and facilitate inward investment in the emirate, draws on past experiences and seeks to move towards the future with confidence,” said Sami Al Qamzi, Director General of the Department of Economic Development (DED) in Dubai.