Dubai Business Initiatives Earn Praise from Al Maya Group

Posted by Shrikant Sharma on January 25th, 2021

One of the city’s top wholesale distributors in branded FMCG and other food products along with possessing a business conglomerate across multiple categories including supermarkets, Al Maya Group is a reputed name in Dubai. Being one of the biggest wholesale food distributors operating on a global scale, Al Maya Group has heartily praised the pioneering business initiatives implemented by the UAE Government for stimulating the economy, trading and business overall. Kamal Vachani, Group Director at the Al Maya Group, has stated that the Dubai leadership has implemented another forward-thinking step which deserves to be praised and is remarkable for its fabulous analysis of various global scenarios while doing all it can to mitigate its overall impact on the local economy here. He talked of being highly fortunate to be based in a city where the goodwill of people is always prioritized by the leadership and Government.

Dubai has already unveiled its Dh315 million installment in the economic stimulus package which has taken the overall value of Government incentives to a whopping Dh7.1 billion, rolled out for helping businesses tackle the pandemic. The package will also extend validity for some initiatives previously announced, from the month of January, 2021 till June, 2021. This has been confirmed by the Crown Prince of Dubai and the Chairman of the Executive Council of Dubai, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. He has stated that the Government aims at ensuring proper continuity for businesses while lowering the impact of the global pandemic and subsequent economic crisis, staying in sync with the directions issued by His Highness, Sheikh Mohammed bin Rashid Al Maktoum, the Prime Minister and Vice-President of the UAE and also the Ruler of Dubai.

The Dubai Government, according to the Crown Prince, will continue rolling out more such strategic measures for effectively tackling the impact of the global pandemic in a decision that has been effusively praised by all businesses, investors and traders in the UAE including the reputed Al Maya Group. Several fiscal packages have previously been unveiled by the Central Bank of the UAE along with the Federal Government and several Emirates. The Dh100 billion Targeted Economic Support Scheme is a fund of the Central Bank that has already benefited in excess of 321,000 eligible beneficiaries inclusive of 1,500 companies and 10,000 small and medium enterprises alike.