2020 Abu Dhabi Economic Stimulus Package

The AED100 billion package included 16 different initiatives ranging from fee waivers to subsidies and exemptions that ensured business continuity and reduced the cost of living to support the community.

A total of AED246 million in annual registration fees for commercial vehicles, toll gate tariffs, real estate registration fees and Tawtheeq fees for commercial and industrial activities were waived until the end of 2020.

Industrial land leasing fees for new contracts were reduced by 25 per cent, and a total of AED246 million in penalties and economic licence violations were waived by the Abu Dhabi Department of Economic Development.

Tourism and municipality fees were also suspended for tourism and entertainment facilities until the end of 2020.

Rental rebates of up to 20 per cent were offered to restaurants and F&B outlets, as well as tourist and entertainment facilities.

More than AED5 billion in water and electricity subsidies were offered to UAE citizens and commercial and industrial activities in Abu Dhabi until the end of 2020.

As part of the Stimulus Package, payment of approved government invoices was accelerated to 15 working days via the Sharaka platform, a Ghadan 21 initiative aimed at enhancing the private sector's development and the ease of doing business in Abu Dhabi.

SMEs are a vital component of Abu Dhabi's economy, making up 98 per cent of companies in the emirate. Abu Dhabi Government mitigated the impact of the pandemic on this strategically important sector through the launch of the SME Credit Guarantee Scheme.

The Department of Finance partnered with three Abu Dhabi banks - ADCB, ADIB and FAB - to provide more financing options for SMEs through the AED5 billion Credit Guarantee Scheme. The Credit Guarantee Scheme helps SMEs access financing by providing a partial guarantee to lending banks, should the SME fail to repay its financing commitments.

A further AED6 billion Supply Chain Financing initiative was announced in January 2021 to increase liquidity for SMEs in the healthcare sector in collaboration between the Department of Finance with the National Health Insurance Company, FAB and Daman.

An AED1 billion market maker fund was established for the Abu Dhabi Securities Exchange (ADX) to enhance liquidity and sustain the balance between supply and demand for stocks.