Supported by a strong institutional system, advanced digital capabilities, and a high educational level of the population

The UAE is first in the Arab world in the index of economic recovery from the effects of "Covid-19"

The country will be the fastest economically recovering from the repercussions of the pandemic, thanks to the integrated strategy it adopted to deal with the crisis.

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The UAE ranked first in the Arab world in the indicator of economic recovery from the effects of the "Covid-19" epidemic, which was conducted by the Horizon Research Group to assess the capabilities and components that countries possess, which help them overcome the crisis and recover from it, with the aim of developing effective policies to deal with this challenge In support of the efforts aimed at achieving a full recovery in all sectors.

A statement issued yesterday indicated that according to the results of the index, which covers 122 countries, the UAE came at the forefront of the Arab countries, supported by many factors and elements of strength, the strongest of which is the strong institutional system, the high digital capabilities of various sectors, in addition to the high educational level of the population. While the strong performance of the state in its various institutions during dealing with the pandemic from its inception until now was reflected in the results achieved.

Sub-indicators

The index report indicated that the UAE ranked among the top 25 in the world in many sub-indicators, as it ranked fifth in the “health level of the population” indicator, 15th in the “labor market strength” index, and 17th in the “debt level” index. And 19th place in the "governance and social capital" index, and 21st in the "digital economy" index.

According to the report, the high level of digital capabilities and capabilities at the societal and economic levels played a crucial role in mitigating the negative impacts on many sectors, and it will also play a major role during the recovery and reconstruction stages.

Despite the severe vulnerability that accompanied the beginning of the crisis, the report emphasized that the UAE, Luxembourg, Singapore, Israel, Malta and Ireland showed great economic resilience that supports their ability to recover, in addition to their strong institutional systems, advanced digital infrastructure and high education rates.

Health is a priority

The Minister of Health and Community Protection, Minister of State for Federal National Council Affairs, Abdul Rahman bin Muhammad Al Owais, said, “The UAE’s achievement of fifth place in the world in the (Population Health File) index translates the tireless efforts made by the UAE government to confront the global pandemic, bearing in mind that The population in the state is the most important priority, pursuant to the vision of the wise leadership, that the human being is the basis of development and its main focus, and he must always be healthy, in order to ensure that he plays his role in the development of society and the sustainability of its prosperity.

He added that "the experience of the UAE in dealing with (Covid-19) is exceptional, and differs from the rest of the countries, as it benefits from the experiences of others, but does not resemble them, given that the country embraces nearly 200 nationalities."

Faster recovered

For his part, Minister of Economy, Abdullah bin Touq Al-Marri, affirmed that the UAE will be the fastest economically recovering from the repercussions of the pandemic, thanks to the integrated strategy that the state has adopted to deal with this exceptional phase, where a set of huge economic incentives have been adopted to support entrepreneurs and small and medium-sized companies. In addition to the financial and monetary support packages designed to accelerate the pace of recovery in various sectors and activities.

Bin Touq attributed the strength factors that characterize the UAE economy to a large group of factors that contribute in their entirety to the recovery process on various axes, including economic diversity, the strength of the state’s sovereign assets and the high financial reserves of the state, adding that «the effective measures imposed by the UAE to contain the epidemic and control Therefore, by relying on modern technology, it contributed to the rapid and gradual opening of the economy. ”

Additional opportunities

Bin Touq indicated that the next stage will witness additional opportunities that businessmen and investors can benefit from, which is reflected in the positive indicators that monitor the pace of economic recovery in the UAE, explaining that “despite the challenges posed by the pandemic worldwide, the credit, financial and monetary situation in The country is very strong and stable. ”

Pointer

It is noteworthy that the indicator of economic recovery from the effects of the "Covid-19" epidemic, which was implemented by the Horizon Research Group, an expert body affiliated with the United Nations and the World Economic Forum and headquartered in Switzerland, is one of the most recent reports dealing with this crisis.

The 122 countries included in the index were selected based on the availability of data, as the index uses a specially designed data set to measure three main axes: the resilience of the health system, the ability of countries to absorb economic shock, and economic resilience.

Young job market

The labor market in the UAE has special features, as it included - according to a survey conducted by the Federal Competitiveness and Statistics Authority - more than seven million employees and workers during the past year, while the unemployment rate is 2.2%, which is a low rate according to international standards, which makes the UAE It has a low unemployment index.

“Active” individuals of working age (15 years and over) constitute 82% of the total population in the country, which means that the labor market is very young, and the developed legislative and legal frameworks have contributed to enhancing the country's attractiveness for talent, making the UAE home to an elite group of qualified competencies. In various fields.

Advanced centers

The UAE ranked advanced in the world in several indicators, including:

Fifth place in the "health level of the population" index.

15th place in the "labor market strength" index.

- 17th place in the "debt level" index.

- 19th place in the "Governance and Social Capital" index.

- 21st place in the "digital economy" index.

The next stage will witness additional opportunities that businessmen and investors can take advantage of.

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