The Minister of Economy, Sultan bin Saeed Al Mansoori, stressed that the UAE, out of unlimited support, follow-up and continuous directions from its rational leadership, has developed a systematic response plan to confront the effects of the emergence of the new Corona virus on the national economy in a manner that ensures the sustainability of the economy, business continuity, recovery, and restoration of growth during a record period.
This came during Sultan Al-Mansouri’s participation in the session of reflections on the UAE - opportunities and challenges, which dealt with future plans for the economic and technological sectors, within the meeting of the government of the Emirates to explore the future of the main sectors after Corona, which comes in implementation of the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Deputy The President of the State, Prime Minister and Ruler of Dubai, "may God bless him," began to formulate the UAE strategy for the post-"Covid-19" stage.
Sultan Al Mansouri said that the UAE economy is a competitive and resilient economy linked to various global markets, and therefore it is not isolated from the repercussions that the world is witnessing as a result of the epidemic of Covid 19, indicating that there are some sectors that witnessed a negative impact more than others such as tourism, aviation, petrochemicals, retail trade and real estate While other sectors witnessed benefit and growth during the current crisis, such as technology, internet services, digital entertainment, e-commerce and food trade, stressing that the national economy of the UAE is solid and resilient and has elements that enhance its ability to achieve G and achieve leadership crises.
A two-stage strategic framework The Minister of Economy stated that the general framework of the state's economic strategy in the face of an epidemic Covid 19 focuses on two main stages, the first in the short term and is the gradual opening of the economy and business activities taking into account the health precautions followed, and providing support and massive economic stimulus plans to the sectors most affected, which Its total value to date amounted to 282.5 billion dirhams, and the protection of entrepreneurship and small and medium-sized companies, and linking the funds to the beneficiary sectors according to studied plans and effective mechanisms.
As for the second stage, it is represented by a long-term stimulus plan for the economy to accelerate recovery and advance growth, and work to transform challenges into opportunities to achieve sustainable economic growth by enhancing the flexibility and sustainability of the economic model followed, and encouraging financing and investment in sectors with high future potential, most notably: the economy Digital, including artificial intelligence, the fifth generation network, the Internet of Things, smart cities, blockchain, green economy concepts and industries such as renewable energy, electric cars, and circular economy, and enhancing productivity by integrating typing techniques Three-dimensional systems Alroboutks, and enhance food security by using advanced technologies such as artificial intelligence, biotechnology and genetic engineering.
The digital economy is leading the recovery process, Sultan Al Mansoori said: “From this standpoint, we call on companies and the private sector with all activities to prepare for this stage and prepare for the stage of the digital economy that will lead the recovery stage and its aftermath of recovery, and focus on future skills for careers and jobs and the shift towards introducing technology at every stage of Production stages as an important continuity factor for business and future growth. "
He stressed that the features of the future of the economy will depend on encouraging national industries and securing the supply of basic materials, in addition to studying the diversification of industrial imports from locations and countries around the world, and harmonizing economic policies with global changes in the short and long term.
Sultan Al-Mansoori pointed out that the global economic trends for the post-“Coved-19” stage will push towards the development of a new global supply chain and new business patterns with a more active role for governments in the national economy in all markets, and the allocation of huge investments in digital infrastructure and the fifth generation in communications and cities Smart, smart services, health, education and trade.
The future of technology after "Covid-19" The Minister of Economy pointed out that innovation was the main pillar in the economic advancement in the post-crisis stages throughout history, and the largest role of technology will be in the post "Covid-19" period, where the current crisis demonstrated the close relationship between The continuity of life in the countries and its technological capabilities, stressing that the UAE government will continue to provide incentives to support large and emerging technological companies in the country, attract investment and support its continuity as a component of the national economy.
During his answer to a number of questions in the dialogue of ministers moderated by His Excellency Dr. Amna Al-Dahhak Al-Shamsi, the official spokesman for the government of the UAE In terms of health and economic impact, pointing to the importance of developing new standards for global supply chains, and finding alternatives for chains not available due to the closing of the airspace and ports, stressing the role of technology in developing a huge database to determine a Conscious of value-added industries and viable embrace locally so as to contribute to the promotion of economic diversification of the UAE.
It is worth noting that “The meeting of the UAE government: Preparing for the post-Covid-19 phase” represents the embodiment of the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, in holding a series of intensive sessions with the participation of more than 100 government officials and heads of authorities at the federal and local levels To discuss the implications of the "emerging corona" virus, explore the most important opportunities, and develop a general framework for a comprehensive strategy that includes action plans and government policies in sectors most related to people's lives.