Hamdan bin Mohammed issues a decision to reduce the fee of sales of hotel facilities by 3%

MEDIA IN, Dubai, June 11, 2018 (WAM)
In line with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, To become 7% instead of 10%, which will enhance the competitiveness of Dubai tourism and encourage investment in the hotel sector and tourism.
The decision comes in line with the Executive Board’s decision last week to reduce market fees by 50% to provide a range of new investment and legislative incentives and facilities aimed at reducing the cost of doing business, providing more support to companies operating in Dubai and attracting more new investments.
“We continue to work under the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum to provide more business facilities to enhance Dubai’s competitiveness within a framework that ensures the growth and prosperity of a model partnership between the public and private sectors to ensure exceptional growth for the various economic sectors,” he said. The most important of which is the tourism sector to confirm and develop our competitive advantages and consolidate our position on the global tourism map; we have a strong tourism sector with many elements of excellence and great confidence in continuing to contribute to the impact of enhancing the GDP of the Emirate. ”
“We continue to take firm steps to establish Dubai as a preferred destination for visitors and businesses internationally, and our incentive policies are aimed at the most strategic sectors, to be the first Dubai in the world to do business.
“The tourism and hotel sector is a major pillar of our efforts in the field of diversification of the economy and sources of income. The promotion of its sustainability requires creating an attractive environment for tourism and investment in accordance with flexible strategies that support the current strong growth of the sector in the coming years.”