The across-the-board cuts mean that business-related fees will see a reduction between 50 per cent and 70 per cent for registration, licensing and related administrative functions.
According to a press release issued today, this initiative will immediately assist more than the 7,500 businesses that operate out of Jafza and hundreds of new businesses attracted by the premier Free Zone’s plug and play infrastructure and solutions for trade.
A range of other online services are also being offered free of cost in line with Jafza’s on-going digitalisation process.
Speaking on the initiative, Mohammed Al Muallem, CEO & Managing Director, DP World, UAE Region and CEO of Jafza, said: “The initiative is highly significant and in line with the recent call by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, to bring down the cost of doing business and enhance investor experience.”
Calling it a timely move to encourage their customers towards pursuing their business targets with greater confidence and purpose, he said that the initiative was specifically designed to create value and allow companies to channel their resources sustainably apart from generating more business and job opportunities.
DP World, which recently went back into full state ownership, contributes to over 33.4 per cent of Dubai’s GDP and believes this initiative will further enhance the ease of doing business at Jafza and continue to position Dubai as one of the global centres for commerce and trade.