The United Arab Emirates has announced the launch of the first phase of the 'Tax Incentives Program for Research and Development', a significant move aimed at strengthening the country's position as a global innovation hub. This initiative is designed to encourage the private sector to invest in scientific research and technological innovation. The UAE government will provide substantial tax breaks to companies that invest in R&D, making the country even more attractive to international tech giants and startups. According to officials, the program is part of a long-term strategy to diversify the economy and reduce its dependence on oil.
