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Sheikh Mohammed bin Rashid issued the act to fortify continued government support for the investment environment.
The government of Dubai has cut business licensing fees by up to a third and has frozen other government charges in a bid to stimulate economic activity.
The Emirates news agency reported that Dubai ruler and UAE vice president Sheikh Mohammed bin Rashid issued the act to fortify continued government support for the investment environment.
This includes fees levied by the government for administrative or economic services even if the costs of these services are higher than the market rate, it continued.
The government departments will also
strive to provide all facilities to those who pay the fees, by way of
receiving some of those fees on instalments.
Business fees
will be slashed by 20 30 per cent over a range of activity, such
as trade and professional licenses, property ownership certificates,
tenancy termination contracts,building transfer (into hotels or
apartment, for instance) and other changes to commercial property.