H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, approved a series of initiatives and strategies aimed at empowering individuals and society, promoting trade and investment, enhancing methods of measuring economic performance, and safeguarding the workforce, during a Council meeting held in his presence.
The meeting accorded approvals to five key projects and initiatives:
- AED 1 Billion Economic Incentives – A set of economic incentives designed to support Dubai’s economy and society, to be implemented over a period of three to six months starting 1 April 2026.
- The measures are intended to ease financial pressures on businesses and individuals across various sectors.
- They include deferral of a range of government fees for three months, allowing hotels to postpone 100% of sales fees and Tourism Dirham payments to enhance liquidity in the hospitality and tourism sectors.
- Customs data grace periods will be extended from 30 to 90 days, with possibilities for further extension and full compliance with tax legislation.
- Residency permit issuance and renewal procedures will be streamlined to facilitate living and working in Dubai.
- Dubai’s Economic Performance and GDP Update – The Executive Council approved the results of Dubai’s economic performance for Q4 2025, showing a growth of 6.4%. For the full year, Dubai’s GDP grew by 5.4%, reaching AED 937 billion.
- The Council also endorsed a comprehensive update to the methodology for measuring Dubai’s GDP.
- The updated approach expands the scope of economic surveys, broadens statistical coverage to better represent all economic activities, and introduces more comprehensive databases to reflect actual performance more accurately.
- Virtual Warehouses Initiative – Overseen by Dubai Customs, this initiative facilitates temporary imports to ensure smooth flow of goods, including artwork.
- Under a new temporary admission declaration, imports of artwork are exempted from customs duties and financial guarantees.
- Duties on private artworks are suspended for three years.
- The initiative removes geographical restrictions, simplifies time extensions, and introduces virtual copies of artworks for high-tech tracking.
- This builds upon Dubai Customs’ ‘Art Flow’ pilot project, providing financial and procedural advantages while strengthening Dubai’s position as a global centre for high-value artworks.
- Dubai Empowerment Strategy – Supervised by the Community Development Authority and aligned with the Dubai Social Agenda 33, the strategy builds on the Dubai Empowerment Programme.
- The programme has already supported 1,200 young Emiratis, created more than 7,000 job opportunities, and engaged over 400 partner entities across various sectors.
- The strategy aims to raise living standards, strengthen financial stability, promote sustainable employment, and foster social cohesion among Emirati families.
- It adopts a dual-track approach, providing support for both job seekers and home-based entrepreneurs, relying on cross-sector partnerships between government, businesses, and community organisations.
- Health and Safety Strategy for Workers’ Accommodations – Designed to improve living and working conditions for workers across Dubai.
- By 2033, the strategy aims for 100% access to essential services for workers and 100% compliance of workers’ accommodations with health and safety regulations.
- The initiative supports the Dubai 2040 Urban Master Plan and aligns with International Labour Organisation (ILO) regulations, reflecting Dubai’s commitment to worker welfare and sustainable urban development.
H.H. Sheikh Hamdan highlighted that the approved measures reflect Dubai’s commitment to practical support for individuals, families, and businesses. He emphasized that under the visionary leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and with the determination of its people and an inclusive society, the UAE is positioned for a better future.
He added, “Dubai has earned a reputation for credibility, transparency, and trust among businesses and investors worldwide, and stands ready to meet any challenge through the determination of its people and the strength of its inclusive society.”
The meeting was attended by:
- H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE
- H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai
