Abu Dhabi's New Move to Spur Economy: Waiving, Slashing Fees - Bloomberg

Abu Dhabi's New Move to Spur Economy: Waiving, Slashing Fees - Bloomberg:

Abu Dhabi is on another push to stimulate its economy.

This time the sheikhdom is waiving some business fees and slashing others after slowing growth in the non-oil economy has already pushed the United Arab Emirates to introduce a slew of measures, including longer-term visas for expatriates.

Abu Dhabi, the capital of the U.A.E., late Tuesday exempted private-sector companies from economic license fees for two years, waived municipal fees on 75 basic services and reduced others by 10 percent to 15 percent, state-news agency WAM reported. The changes take effect Dec. 1.