The Interim Committee formed to coordinate and follow up of the 33 initiatives launched by the UAE in August to support the economic sectors in the post-coronavirus era has approved a roadmap for the implementation of rapid economic recovery.
In a virtual meeting, the committee greenlighted the roll out of immediate support for businesses and economy in three phases.
The first phase seeks aims to provide immediate aid with 15 major initiatives, while the second phase will launch complementary support for sectors to enable a rapid economic recovery.
The third phase will provide integrated support to vital sectors and will open up a sustainable and flexible development path for the economy, and continue into the future.
Regarding the initiative, Dr. Mohamed Rashed Ahmed Al Hameli, Secretary-General of the Abu Dhabi Executive Council, said, “The continued support of our wise leadership, and its rapid response and clearly-defined plans, have supported all sectors that were significantly impacted by the pandemic, including the health sector. This was accomplished through well thought-out stimulus packages that helped mitigate the impact of the pandemic.”
“The UAE economy proved to be extremely resilient in the face of the pandemic. The 33 initiatives that form part of this package will help unify cross-sector efforts, while their implementation, follow-up and evaluation will lead to positive economic and social outcomes in high-productivity sectors, as well as SMEs, in order to accelerate the process of recovery and set in place medium and long-term initiatives to ensure sustainable growth,” Al Hameli added.
The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved the launch of the plan’s 33 initiatives to support economic sectors on August 3, 2020.
The meeting of the Interim Committee was chaired by Abdullah bin Touq Al Marri, Cabinet Member and Minister of Economy, with the participation of Nasser bin Thani Al Hamli, Minister of Human Resources and Emiratisation; Dr. Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and SMEs; Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; Sarah bint Yousif Al Amiri, Minister of State for Advanced Sciences; Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Teleworking Applications; Abdulla Mohammed Al Basti, Secretary-General of the Dubai Executive Council; Younis Haji Al Khouri, Under-Secretary of Ministry of Finance; Saif Hadef Al Shamsi, Deputy Governor of the Central Bank of the UAE; and Dr. Mohamed Rashed Al Hameli, Secretary-General of the Abu Dhabi Executive Council.
