The Ministry of Finance (MoF) published three new resolutions for national organizations across the UAE to revise and reduce federal fees.
The new resolutions cover:
- Cabinet Resolution No. (36) of 2020 on registering suppliers in the Federal Supplier Register,
- Cabinet Resolution No. (37) of 2020 on changing certain provisions of Cabinet Resolution No. (4) of 2019 on Procurement Regulation and Storehouse Management in Federal Government and
- Cabinet Resolution No. (38) of 2020 on amending Cabinet Resolution No. (4) of 2015 on Fees for services provided by the Ministry of Infrastructure Development.
The resolutions are part of the ministry’s attempts to promote the national economy and incite the country’s trade ecosystem.
“The move is in adherence to the directives of the wise leadership to reduce fees, and provide incentives to investors and companies operating in the country. This is to enhance the national economy and enable business growth and achieve economic balance in the country, especially in light of the repercussions of COVID-19 pandemic.”
The decisions included:
- Reduction of fees of Registering suppliers in the Federal Supplier Register at MoF and the Ministry of Infrastructure Development by 50 percent from Dh1,000 to Dh500.
- Cancellation of registration renewal fees.
- Canceling fees for selling tender documents in federal entities (ministries and authorities).
“The Ministry of Finance coordinates its efforts with all relevant federal ministries to review government fees that could be abolished or reduced. This is based on in-depth studies and benchmarks set to enhance the attractiveness of the national economy to investors and to reduce the cost of doing business, to strengthen the nation’s standing in global competitiveness indicators, in line with the goals of UAE Vision 2021,” Mr. Al Khouri added.
These decisions will be valid once they are published in the Official Gazette.