Businessmen and members of the Board of Directors of the Abu Dhabi Chamber of Commerce and Industry expected that the market will witness a strong return to pumping "cash" in the various economic sectors once the Corona virus pandemic has subsided, and the return to life as it was before the spread of the virus.
They told «Emirates Today» that the current state of the market is global, and all traders are awaiting what will happen to the business case in terms of investment opportunities created by the pandemic and increasing demand for certain sectors, noting that the freezing of the cache will not exceed three or four months at the latest.
They added that the preference to keep the "cache" comes to the conviction of some merchants and business owners that the shape of the economy will change in favor of local manufacturing, self-sufficiency in food and raw materials, and electronic shopping, noting that these and other sectors will be of interest to investors.
Global situation
In detail, the head of the merchants committee at the Abu Dhabi Chamber of Commerce and Industry, Reed Al Dhaheri, said that what we are currently witnessing in light of the spread of the "Corona virus" is a global situation that occurs for the first time, so it is natural for new investments to stop or pour liquidity at levels before "Corona", Where traders prefer to keep "cash", which is a safe store of value alongside gold.
She added that everyone is waiting for the virus to subside and start returning to normal life until he injects his money into the opportunities imposed by the new reality.
Strong return
Al-Dhahiri expected that the return of "cache" to the market will be strong in a way that contributes to reviving the economic movement in the country, and then finding new job opportunities and raising trade exchange between the UAE and other countries in the region.
And it showed that "the smart investor is currently coexisting with the situation at the lowest costs and does not leave the market, as the freeze (cache) will not exceed three or four months, and then the situation will return better than the previous one, more movement and momentum."
Cautious
For his part, Chairman of the Board of Directors of Al-Shumookh Oil Services Group, Dr. Ali Al-Amri, said that "caution prevails in the market at the present time because of the lack of clarity of vision, although the signs of détente and the reopening of the economy have already started, but not as they were before."
He added that there are good current investment opportunities in real estate, stocks, etc., but the investor is always waiting for the best opportunities, so keeping the "cache" currently is temporary, and it will soon be pumped vigorously during the next three or four months.
Al-Amri said that "in times of crisis, it is preferable to keep (the cache) and not to risk it because of the safety it represents for business owners against market fluctuations, so we find everyone in a state of anticipation for the return of the economy and opening the business completely to show the form of investment opportunities."
Purchasing power
Al-Amiri pointed out that keeping the "cache" is not limited to business owners and investors, but also individuals in light of concerns about reducing salaries in the affected sectors or laying off workers or others.
He stated that the purchasing power itself has decreased in all markets of the world, as it has become clear that the capital cycle has declined in anticipation of the decline of "Corona", stressing that "large liquidity awaiting the opening of the economy altogether will undoubtedly contribute to the return of prosperity and prosperity in the state."
Seize opportunities
In turn, a member of the Abu Dhabi Chamber of Commerce and Industry, Hamad Al-Awadi, said: “In general there are many sectors affected and this was followed by a reluctance to start any new investment and retaining in return for that (cache) in light of fog around the world.” He added, however, that there are still A great appetite for risk-loving investors to seize some good opportunities for their previous experiences.
He added that the preference to keep the "cache" comes to convince some traders and business owners that the shape of the economy will change in favor of local industrialization and self-sufficiency in food and electronic shopping, noting that these and other sectors will be of interest to investors and have promising opportunities whose final form will crystallize at the present time, therefore The market will witness a strong return to liquidity and a revitalized business movement.
Different request
The head of the Merchants Committee at the Abu Dhabi Chamber of Commerce and Industry, Reed Al Dhaheri, said that the post-Corona pandemic market will be different in terms of opportunities and the shape of the demand itself, due to sectors that have witnessed great demand such as health, education, and remote shopping, among others. Al-Dhahiri pointed out that the dirham’s peg to the dollar contributed to the stability and stability of the local currency, and that is why we find the largest percentage of the money and deposits of traders with it.
- food and raw materials sectors , the most prominent e - shopping , which will replace the investors ' interest.