Ajman Crown Prince announces new economic incentive package
The second package will support the sectors including foreign trade, customs, tourism and real estate
H.H. Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Executive Council, announced a directive to support the sectors of foreign trade, customs, tourism and real estate and other economic establishments with a set of urgent decisions, as part of a second package of economic incentives.
Sheikh Ammar stressed that the Ajman Government is working during these exceptional circumstances to support the local community, which includes individuals, business leaders and investors, by implementing precautionary and preventative measures to face the repercussions of the current crisis, ensure the security and stability of the community and create opportunities for growth and progress under the most difficult circumstances.
Sheikh Ammar’s second package includes five initiatives to support the emirate’s foreign trade and customs sectors, including the possibility of paying customs duties with easy payments within 90 days, extending the free period for storing containers from 10 to 20 days, and reducing container insurance fees by 50% for each container until the end of June 2020.
Sheikh Ammar’s directive will also support the tourism sector through three new decisions, which are exempting hotel and tourism establishments from registration fees until the end of the year, cancelling penalties and postponing the payment of fines due at the end of the year.