The Dubai World Trade Centre (DWTC) has announced reductions of up to 70 per cent on licensing and incorporation fees within the DWTC Authority and One World Central, a report said.

The DWTC’s programme will provide highly competitive offerings with the twin objectives of supporting the inward flow of greater FDI and accelerating private-sector contribution to Dubai’s GDP in line with government directives to reduce the cost of doing business in Dubai, said a report in WAM.

"The significant reductions in licensing and incorporation fees further support The Executive Council of Dubai’s recently announced wide-ranging policy measures, and will collectively increase the competitiveness of, and the ease of doing business within the DWTCA free zone," the report said citing Helal Saeed Almarri, director-general of the DWTCA and Dubai Tourism and Commerce Marketing.

The DWTCA’s revised fees will witness a decrease of 50 to 70 per cent in FZ registration and licensing fees, with a 40 to 50 per cent reduction in immigration-related service fees depending on the scale of business operation, the report said.