The Dubai Airport Freezone Authority (DAFZA) has launched a set of economic incentive packages, which aim to support companies based in the free zone. This initiative will ensure business continuity across various sectors and will help them mitigate the severity of the economic impact and precautionary measures the world is facing during this time.
This initiative aims to enhance companies’ ability to adapt to the global fluctuations by providing them the flexibility to deal with the impact of the current economic situation. The initiative includes postponing lease payments for up to three months and facilitating the financial payments into easier monthly instalments. It supports retailers operating within the free zone by exempting them from lease payments for a period up to three months. The free zone will refund the security deposits on the leased spaces and labour guarantees to companies and will also exempt new companies from the registration and licensing fees. DAFZA will cancel companies’ fines as well.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DAFZA, said: “By launching this package we aim to reduce the impact of this crisis on businesses. We stand in solidarity with our companies to overcome the challenges caused by the global spread of Covid-19. This initiative reflects our commitment to providing the ideal environment for them to ensure their business continuity and to help develop and grow their operations despite the fluctuations and global economic conditions. This package will support companies through these exceptional circumstances that have unexpectedly affected various businesses sectors and activities.
“DAFZA is a key partner for many companies operating in more than 20 vital sectors within the free zone. This package will guarantee continuity and commercial movement within the free zone. We reassure companies during this difficult times that their companies’ investments and businesses are in a safe place and that we will overcome this crisis stronger,” he added.
Dr. Mohammed Al Zarooni, Director General of DAFZA, said: “These new incentives reaffirm DAFZA’s continuous efforts to provide all forms of support to its customers and companies based in the free zone. This initiative comes as a complement to a series of facilities and support services that we provide to companies during this situation, which is affecting their operations and might lead them to difficult conditions in the short and long term. This comes in line with our continuous efforts to support companies under all circumstances, as they are vital to the local and global economy. DAFZA is working closely with its strategic partners to provide them with support, maintain sustainability and ensure business continuity.”
Dr. Mohammed Al Zarooni praised the directives of Sheikh Mohammed bin Rashid Al Maktoum which affirms the commitment to strengthening the emirate of Dubai and the UAE’s standing as a global hub for companies to grow and prosper. “We aim to provide an optimal environment for multinational companies that play a key role in enhancing its operations, support on legislations and laws, and providing economic incentives that protect their practice and expansion in an appropriate manner,” added Al Zarooni.
DAFZA has taken a set of preventive measures to limit the spread of the Coronavirus within the free zone. A committee for emergency and crises has been formed and is working around the clock to monitor and follow up the operations of the free zone during this difficult period. The committee’s role is to ensure also that all instructions and directives issued by the Ministry of Health and Prevention and other authorities are applied in the free zone.
The free zone has implemented a 100% remote work system within the authority’s buildings based on electronic and smart applications and advanced technical infrastructure that the country and the free zone provides.
The free zone urges its companies to implement the same system in order to preserve the health of their employees and their vital business community. This comes in line with the directives of the Federal Authority for Government Human Resources to activate this system for all federal ministries, authorities, institutions, and the private sector, knowing that all of its services are available to customers through their own application and electronic portal.
DAFZA closed all external facilities within the free zone including the food courts and other facilities. The free zone launched a comprehensive campaign to clean and sterilize all streets, buildings, facilities and warehouses within the free zone. DAFZA is committed to all health guidelines that deal with this pandemic and limit its spread by applying the best global practices approved in this field, as well as issuing directives to companies and their owners to support them develop a strategy to deal with the current situation. This helps them protect their employees, facilities and provides other technical and financial support to manage the crisis.