Incentive package for Ajman firms announced
AJMAN, June 11, 2020
HH Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, has issued an Emiri Decree pertaining to the third governmental incentive package to support Ajman’s economic sector.
The decree completes a series of economic incentives and government initiatives that aim to support local economic activities and mitigate the effects of the Covid-19 crisis, said a Wam news agency report.
The decree stipulates the implementation of several incentives and facilities related to economic activities and sectors in the emirate. Accordingly, the Ajman Chamber of Commerce and Industry will exempt all economic establishments in the emirate from the membership renewal delay fines, and exempt hotels and tourism establishments from membership renewal fees.
The fee for issuing a certificate of origin for industrial plants was reduced by 25 percent.
Business establishments, whose activities were suspended by current national precautionary measures, will be exempted from paying fees for 16 government services.
Economic activities determined by the decree will be exempted from paying fees to the Department of Economic Development for one year. Also, their fees for the registration and authentication of their lease contracts and public cleaning services fees collected by the Department of Municipality and Planning for one year will be exempted.
They will be also exempted from membership renewal fees and membership renewal delay fines collected by the Ajman Chamber of Commerce and Industry.
The Ajman Government, guided by the directives of the emirate’s leadership, is continuing to assess the economic situation and the challenges facing businesses in the emirate, to propose suitable solutions and initiatives that will strengthen the economic environment and support the recovery of economic establishments, the report said.
The Chairman of the Ajman Executive Council may issue a resolution to extend the period mentioned in the decrees as per his sole discretion, it said.
