AJMAN, 17th June, 2020 (WAM) — Sheikh Abdullah bin Nasser Al Nuaimi, Director of Planning and Business Development Department, has said that the third economic incentives package aims to support investors and Small and medium-sized enterprises, SMEs, in facing the challenges posed by the current situation.
Incentives package includes exempting economic establishments whose business has been temporarily suspended during the crisis due to the implementation of the precautionary measures from licence renewal fees for one year.
Sheikh Abdullah added that the exemption which will expire at the end of the current year applies to 12 activities, including Hajj and Umrah organisation, exhibition management and organisation, social events halls, massage and relax centres, fitness clubs, nurseries, gents and ladies’ salons, kids’ salons, recreational games, cinemas, recreational sports grounds and arenas and video games lounges. Incentives also include extending the suspension of calculation of penalties and fines resulting from the delay in licences’ renewal and warehouses’ permits till the end of the year.
For his part, Saud Alshimmari, Director of Business Registration Department, explained that around 1,884 economic establishments benefited from exemption of licence renewal fees.
The fees include the fees for renewal of entry into Commercial Register, the fees for issuance of Commercial Register Certificate, service application form fees, fees for the permit to affix trade name signboard, service agency contract authentication fees, service agent appointment fees, service agency contract form fees, fees relating to Civil Works Company Contract Form and authentication, fees relating to foreign trade names or trade names containing numbers, indicating a geographical scope and carrying the name of Ajman, UAE or the Gulf.
He also underlined the cooperation with all partners such as the Municipality and Planning Department and Ajman Chamber of Commerce and Industry in launching further incentives to mitigate the economic effects on such sectors and help them steer through this phase.
Ajman DED will hold a live stream today from 5 pm to 6 pm through its “Stay Live” Program on @AJMANDED in Instagram and @AJMANNEWS and @NEWS_4ALL in News Network, in order to discuss with the business community the economic incentives’ package announced by the Government of Ajman.