Abu Dhabi waives tollgate fee for 2020 as part of stimulus plan

  DUBAI – Motorists going through Abu Dhabi’s toll gates will not be charged fees this year as part of the Abu Dhabi Executive Council’s mega stimulus package announced on Monday (March 16). The stimulus package follows directives from His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. Under the package, various government fees will be cut or cancelled to preserve Abu Dhabi’s economy under the strain of the new coronavirus pandemic. Abu Dhabi stimulus package

The directives include

People, SME and startups

Allocate Dh5 billion to subsidise water and electricity for citizens, and commercial and industrial activities. Subsidise electricity connection fees for startups until end of 2020 Exempting all commercial and industrial activities from Tawtheeq fees for 2020 Allocate Dh3 billion to SME credit guarantee scheme managed by the Abu Dhabi Investment Allocate Dh1 billion to establish a market maker fund, to enhance liquidity and sustain balance between supply and demand for stocks. Settling all approved government payables and invoices within 15 working days. Suspending bid bonds and exempting startups of performance guarantees for projects up to Dh50 million.

Real estate

Suspend real estate registration fees for 2020 Cut industrial land leasing fees by 25 per cent on new contracts Waive current commercial and industrial penalties

Transport

Exempt commercial vehicles from annual registration fees to the end of 2020 Exempting all vehicles from traffic tariffs and road tolls to the end of 2020

Tourism industry

Suspending tourism and municipality fees for tourism & entertainment sectors for 2020 Offer up to 20 percent rebate on rental values for the restaurants and tourism and entertainment sectors.

Capital market

Establishing a new committee headed by the Department of Finance, with members from the Department of Economic Development and local banks to review lending options to support local companies.
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