HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defense of the UAE, and Chairman of The Executive Council of Dubai, has approved a series of key initiatives aimed at strengthening the UAE’s economy and society.
These efforts aim to boost trade and investment, enhance economic performance measurement tools, and protect the workforce, marking a significant step forward in emirate’s ongoing economic and social development.
The meeting accorded approvals to five key projects and initiatives:
$272 million (AED1 billion) in economic incentives for Dubai’s economy and society at large
Results underlining the emirate’s economic growth during the fourth quarter of 2025, along with an updated methodology for measuring the emirate’s GDP;
Virtual Warehouses Initiative;
Dubai Empowerment Strategy;
Health and Safety Strategy for Workers’ Accommodation.
The decisions align with the vision of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum Crown Prince of Dubai, Deputy PM and Minister of Defence UAE, Chairman – The Executive Council Dubai
“Under the visionary leadership of His Highness Sheikh Mohamed bin Zayed and His Highness Sheikh Mohammed bin Rashid, and with the determination of its people and an open, inclusive society, the UAE is well-positioned for a better future. The UAE has established a global benchmark for cities that is built upon a clear vision and sound policy. Dubai has earned a reputation for credibility, transparency, and trust among businesses and investors worldwide, and stands ready to meet any challenge through the determination of its people and the strength of its inclusive society. The measures approved at the meeting reflect the emirate’s commitment to providing practical support to individuals, families, and businesses.”
$272 Million Economic Incentives
A set of economic incentives totaling $272 million (AED1 billion) will be implemented over a period of three to six months starting 1st April 2026. The initiative is designed to ease financial pressures on businesses and individuals across various sectors. It includes the deferral of a range of government fees for three months, including measures allowing hotels to postpone paying 100 percent of the sales fees and Tourism Dirham for three months to enhance liquidity in the hospitality and tourism sectors.
Customs data grace periods will be extended from 30 to 90 days, with the possibility of further extension and full compliance with the applicable tax legislation. The initiative will also streamline the issuing and renewing of residency permits, making it easier for talent to live and work.
2025 Economic Growth Results and Updated GDP Measurement Methodology
The Executive Council approved the results of Dubai’s economic performance for the fourth quarter of 2025, during which the emirate reported 6.4 percent growth. For the full year, the emirate’s GDP grew by 5.4 percent, reaching $255 billion (AED937 billion). The Council also endorsed a comprehensive update to the methodology for measuring its GDP.
Image credits: WAM | Cropped by GBN
The updated approach expands the scope of economic surveys, broadens statistical coverage to more accurately represent all economic activities, and introduces more comprehensive databases that better reflect actual performance.
Virtual Warehouses Initiative
The Executive Council approved the Virtual Warehouses Initiative, which is overseen by Dubai Customs. In its first phase, the initiative will facilitate temporary imports into Dubai to ensure the smooth flow of goods, including artwork.
Under a new temporary admission declaration, the scheme exempts imports of artwork from customs duties and financial guarantees and suspends duties on private artworks for three years. It also removes geographical restrictions, simplifies time extensions, and introduces virtual copies of artworks for continuous high-tech tracking. This builds upon Dubai Customs’ ‘Art Flow’ pilot project, providing significant financial and procedural advantages. By streamlining the entry of high-value artworks, the initiative cements Dubai’s status as a leading global center in this field and offers specialized solutions tailored for high-net-worth individuals.
Dubai Empowerment Strategy
The Dubai Empowerment Strategy was approved by the Executive Council and is supervised by the Community Development Authority. It is closely aligned with the Dubai Social Agenda 33 and builds on the achievements of the Dubai Empowerment Program, which has already supported 1,200 young Emiratis, created more than 7,000 job opportunities, and engaged over 400 partner entities across various sectors.
Image credits: WAM | Cropped by GBN
The strategy is designed to raise living standards, strengthen financial stability, promote sustainable employment, and foster social cohesion among Emirati families. It takes a dual-track approach that provides tailored support for both job seekers and individuals pursuing home-based entrepreneurship. Cross-sector partnerships between government, businesses, and community organizations are at the heart of the strategy.
Health and Safety Strategy for Workers’ Accommodations
The meeting also approved the Health and Safety Strategy for Workers’ Accommodations. This strategy is a major step towards improving living and working conditions for workers across Dubai. By 2033, the strategy targets 100 percent access to essential services for workers and 100 percent compliance of workers’ accommodations with health and safety regulations.
The initiative supports the Dubai 2040 Urban Master Plan and aligns with International Labor Organization (ILO) regulations, reflecting Dubai’s commitment to worker welfare and sustainable urban growth.
