Saeed bin Nasser Al-Talay, Chairman of the Board of Directors of Umm Al-Quwain Chamber of Commerce and Industry, said that reducing fees reduces the burdens on investors and promotes investment and development in the emirate, pointing out that the Chamber exempted all projects for previous periods from fines and fines. Speed up the process of renewal and licensing of licenses, and was able to train a specialized staff to prepare free feasibility studies for entrepreneurs to manage their projects and exemption from membership fees for a period of 3 years.
He explained that the directives of His Highness Sheikh Saud bin Rashid Al Mualla, Member of the Supreme Council and Ruler of Umm Al Quwain to the Department of Economic Development in the Emirate, to reduce the cost of doing business in Umm Al Quwain by reducing the fees in the department 20%, in addition to exempting all licenses ending fines and violations The renewal of commercial licenses will attract new investors and investments to the emirate, especially as its geographical location distinguishes it due to its proximity to the free zones and airports, which facilitates the movement of investors.
He said that these directives will contribute to stimulating the economy in the emirate. The Chamber has also established a clear mechanism and steps to support and develop investment in the emirate and its impact on the development of the UAE national economy. He added that reducing investment fees and licensing and exempting those who are late for renewing their licenses will have a great impact on encouraging and supporting investment.
He pointed out that the Chamber has initiated the translation of the directives of His Highness the Ruler of Umm Al Quwain since the beginning of the field of investment development and will exempt all projects for the previous periods from any fees for fines and violations resulting from them.
Saeed Al-Talay added that the Chamber, in the direction of translating the directives of His Highness the Ruler of the Emirate, initiated earlier to reduce membership fees, and made it a unified fee for membership and abolished the multiplicity of activities fees, and it continues to provide all facilities for entrepreneurs. And free of charge for entrepreneurs to manage their projects and exempt them from membership fees for 3 years in accordance with the directives of His Highness the Ruler of the Emirate, in addition to exempting them from license fees for the same period.
Forum for Business
Saeed Al-Talay explained that the Board of Directors of the Chamber during its last session decided to hold a forum for business and investment in Umm Al-Qaiwain during the next September will contribute to all federal and local government and commercial accessories to Arab and friendly countries and will receive many papers on the development and encouragement of business and investment. Will be held in Umm Al Quwain next November to review the developments in the field of industry in the emirate and study the possibilities of developing them.
He pointed out that the Umm Al Quwain Chamber appreciates the directives of His Highness the Ruler of the Emirate in supporting business and investment and that the Chamber affirms that it will work in cooperation with all concerned departments and agencies in developing and motivating investment and urging license holders to renew their licenses and take advantage of this opportunity in the exemptions. The state of goodness and tolerance.