Dubai’s economy continued its exceptional performance despite headwinds from a slowdown in global economic growth due to the coronavirus pandemic. Number of customs transactions completed by Dubai Customs skyrocketed 38.5% in the first 6 months of 2020 to reach 7.2 million compared to 5.2 million transactions in the corresponding period in 2019.
This reflects the vital role Dubai plays as a global trade hub and the resilience of its infrastructure and systems in dealing with challenges including covid-19.
Dubai Customs completed 134,000 business registration requests during the first half, growing 109% from 64,000 in H1, 2019.
The stimulus package developed by Dubai Government includes a refund of 20 per cent on the custom fees imposed on imported products sold locally in Dubai markets and the cancellation of the AED 50,000 bank guarantee or cash required to undertake customs clearance activity. The initiative supported companies and the business sector in Dubai by enhancing liquidity and reducing the impact of the current global economic situation.
Customs declarations rose 48% in the first 6 months of this year to reach 6.2 million declarations compared to 4.2 million declarations in the corresponding period in the previous year. This means more than one million declarations a month in average. This big figure shows how dynamic and resilient Dubai’s economy is. The advanced Smart Workspace helped complete a declaration in 4 minutes as average.
Dubai Customs also completed 432,000 refund requests, 262,300 certificate requests, and 173,600 inspection-booking requests in H1, 2020.
Sultan bin Sulayem, DP World Group Chairman & CEO and Chairman of Ports, Customs and Free Zone Corporation said the wise directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai have strengthened Dubai’s resilience despite the current challenges caused by the outbreak of the coronavirus. bin Sulayem said,
“We have a very strong customs structure in Dubai manifested in a 38% increase in customs transactions in a very hard time. This puts Dubai as one of the best customs and logistics hubs in the world, and a very attractive environment for foreign investments and businesses. Thanks to a number of government strategies and stimulus plans, Dubai remains credible and trustful in the eyes of investors and businesses worldwide. Dubai Customs’ advanced systems have completed more than 7 million transactions in 6 months and this reflects the high responsiveness our systems and programs have.”
On his part, Ahmed Mahboob Musabih, Director General of Dubai Customs said,
“We managed to stand up for the challenge during the pandemic and to take all the precautionary measures against the virus while doing our work without interruptions. Thanks to huge investment in advanced technologies and efficient governance programs following the directives of our wise leadership, we have completed 99.3% of the transactions through smart and electronic channels (60% smart, 39.28% electronic) leaving only a tiny 0.7% to the counter.
Our advanced systems have completed more than 40,000 transactions a day. This would not have been achieved without our sustainable investment in technology and AI. During the pandemic, we have activated the work from home routine and this necessitated a number of advanced systems in place, which we have. Our work was not interrupted and the same quality services to our clients have been delivered.”
News Source: https://mediaoffice.ae/en/news/2020/September/16-09/Dubai-Customs-transactions-grow-38--to-7m-in-H1-2020
