The UAE Cabinet is going to waive and amend fees for over 1,500 different federal government services. The government statement came in last Tuesday.
This government strategy is expected to enhance the national economy by reducing costs for business owners and enhancing competitiveness; the government statement claimed.
Among the 1,500 public services to be amended and waived, most of them are provided by the ministry of Economy, the ministry of Human Resources and Emiratisation and the ministry of Interior.
According to the statement, the decision will “promote economic growth in the UAE”, draw more investment from abroad and label the country as a “hub for business by reducing administrative costs and fees.”
The decision also aims to balance the government revenue system coherently with the tax system. The move came on the back of UAE getting ranked among top 5 most competitive economies of the world in the IMD World Competitiveness Rankings.
The IMD Report also placed UAE at the top spot in terms of business efficiency, entrepreneurship and digital transformation.
According to Gulf Business, the country’s Vice President and Prime Minister and the Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, urged the federal and local government entities to give their best efforts to keep up the impressive growth and sustain the top ranks over the course of next 10 years.
“We have risen to the top positions in the most important indices of education, health, economy, innovation, security and safety,” he said.
“Today… competitiveness has become an integral part of the government work system in the country,” he added.