The UAE is first in the Arab world in the index of economic recovery from the effects of the "Covid-19" epidemic
The UAE ranked first in the Arab world in the indicator of economic recovery from the effects of the "Covid-19" epidemic published by the Horizon Research Group, to assess the capabilities and assets that countries possess that help them overcome the crisis and recover from it, with the aim of developing effective policies to deal with this challenge, And to support efforts to achieve full recovery in all sectors.
According to the results of the report, which covers 122 countries, the UAE came at the forefront of the Arab countries, supported by many factors and elements of strength, foremost of which is the strong institutional system, the high digital capabilities of various sectors, in addition to the high educational level of the population.
The strong performance of the state in its various institutions during dealing with the pandemic from its inception until now was also reflected in the results achieved, as 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" index, and the 15th position in The “labor market strength” index, the 17th position in the “debt level” index, the 19th position in the “governance and social capital” index, and the 21st position 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 decisive role in mitigating the negative effects on many sectors, and it will have a major role during the stages of recovery and reconstruction, and despite the severe impact that accompanied the beginning of the crisis, the report emphasized that the UAE and other countries Like Luxembourg, Singapore, Israel, Malta and Ireland, they have shown great economic flexibility that supports their ability to recover, in addition to their strong institutional systems, advanced digital infrastructure and high educational rates.
The health of the population in the country is the most important priority to ensure growth
On this occasion, Minister of Health and Community Protection and Minister of State for Federal National Council Affairs Abdul Rahman bin Muhammad Al Owais said: “The UAE’s achievement of the fifth rank in the world in the“ Population Health Profile ”index reflects the relentless efforts made by the UAE government to confront the global pandemic, Bearing in mind that the health of the population in the country 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 said that the UAE's experience in dealing with Covid 19 is exceptional, and differs from other countries, as it benefits from the experiences of others, but does not resemble them, given that the country embraces nearly 200 nationalities, adding: “The UAE has achieved a distinguished response to the Covid-19 pandemic by organizing the national campaign. For sterilization at the state level, launching platforms for electronic health prevention, intensifying awareness campaigns and physical distancing, in addition to strengthening the psychological aspect of society, the country has also achieved global leadership in the number of tests for COVID-19 by completing more than 10 million examinations, surpassing the total number of the population. In the country, the UAE has also succeeded in limiting the repercussions of the Covid 19 pandemic through concerted efforts and launching many initiatives in various sectors in the field of health care technology, government investment in the manufacture of medicines and vaccines to confront epidemics, and the establishment of flexible response units for the rapid containment of future epidemics, and strengthening the system Management of the supply chain to provide medical products, partnerships and communication were established with the most important global research centers to study the best and safest ways to overcome this pandemic.
Focusing on direct communication with the public periodically through media briefings to inform the community of the latest developments with the aim of enhancing transparency and social responsibility.
And the establishment of digital platforms for mental health, relying on robots in medical tasks, employing artificial intelligence in epidemiological investigation, and many other vigorous efforts made by the UAE to preserve its gains in various sectors in health, economy, education and others.
The UAE economy will be the fastest recovering
On this occasion, Minister of Economy Abdullah bin Touq Al-Marri stressed that the UAE will be the fastest economically recovering from the repercussions of the pandemic thanks to the integrated strategy adopted by the state 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 financial and monetary support packages. Designated to accelerate the pace of recovery in various sectors and activities to ensure assistance to all components of the economic system in the country.
Bin Touq attributed the strength factors that characterize the Emirati 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 it by adopting technology Modernity contributed to the rapid opening of the economy gradually, which enhanced the country's chances of reaching a full recovery in record time.
A promising market and unlimited opportunities for investors
Abdullah bin Touq stressed that the coming 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 thanks to the huge financial assets and the superiority of the infrastructure and logistical and the diversity of the UAE's economic relations with various countries of the world.
Bin Touq added that the imminence of the International Expo will create more opportunities that will in turn contribute to the efforts of recovery locally and globally, stressing that the attractiveness of the UAE as a leading investment destination is increasing thanks to the vision of the wise leadership and its firm determination to strongly support the economic sector to achieve a rapid return. It strengthens its position at the forefront of recovering economies.
The "health level of the population" ... an advanced health care system
The UAE’s obtaining fifth place in the world in this index reflects the qualitative leaps and tangible achievements made by the health sector in the country over the past decades, as the health system, thanks to the continuous support of the leadership, succeeded in achieving the first positions in many indicators of global competitiveness.
Especially since the leadership in the UAE attaches great importance to the health care system, which made it a major focus of the UAE Vision 2021 and one of the important indicators aimed at providing world-class health services to citizens and residents alike.
The national agenda for the UAE Vision 2021 was based on the application of the highest international standards and the consolidation of the preventive aspect in its approach, as well as the development of the health system's readiness to deal with epidemics and health risks, which was positively reflected during the health system's handling of the crisis of the spread of the "Covid-19" epidemic, as it showed the ability She is great in dealing with the exceptional circumstances imposed by the pandemic on the world, and she has succeeded, with the ingredients and capabilities it possesses, in formulating an integrated strategy to deal with the crisis to confirm its merit, and has already achieved many successes that have made the UAE model an example to follow, as the health institutions in the country conducted a large number of tests. Laboratory, what put the UAE at the forefront of the world in the number of tests compared to the population.
Thanks to the continuous development of treatment protocols based on advanced technologies and the latest scientific research findings, the health system has succeeded in achieving high cure rates in contrast to mortality rates that are among the lowest in the world.
In addition, the country is partnering with a group of international partners in developing a promising drug for the "Covid-19" virus, as the third phase of clinical trials has come a long way.
A digital architecture that charts the way to the future
The UAE has invested for a long time in developing the digital infrastructure for various sectors with the aim of harnessing modern technology in managing the country's economy and its services, based on the UAE government's awareness and firm conviction of the tremendous impact of these technologies in charting the way of the future, so that the quality of the digital infrastructure in the UAE has become no It is less than the quality of traditional infrastructure.
During the process of smart transformation that the country witnessed in all sectors, chiefly the economy and services, experiences and financial and non-material assets accumulated that strengthened the state's ability to deal with difficult situations and challenges, and even sectors such as the digital economy, artificial intelligence and advanced science became an important catalyst for economic recovery, in addition to Being a pillar of the future industry and a benchmark for development, achieving economic growth and improving services.
During the "Covid-19" crisis, the UAE was able in record time to activate digital transformation in various sectors, including education, services, health and remote work in all fields. This transition has occurred smoothly, revealing the extent of the readiness of the country's digital infrastructure and its superior ability to deal with challenges. And sudden circumstances.
A young job market ... supported by advanced laws
The labor market in the UAE has special features, as it includes, according to a survey conducted by the Federal Competitiveness and Statistics Authority, more than 7 million employees and workers during the year 2019, while the unemployment rate is 2.2%, which is a low rate according to international standards, which makes the UAE enjoy a low unemployment index. .
"Active" individuals of working age "15 and over" make up 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 talents. Qualified in various fields.
Governance and social capital
This indicator measures what is called in the field of economics "intangible capital", which in most countries constitutes the largest part of total wealth since it includes assets of great importance and impact such as human capital, and the specific skills and abilities of the labor force in society. “Social capital” is under this category, and it refers to the level of trust prevailing among members of society and their ability to work together to achieve common goals. It also includes “governance” as the rational management that leads efforts aimed at enhancing productivity and achieving sustainable development.
Over the past years, the UAE focused on the concept of happiness, in recognition of the value of social capital and the extent of its impact on individual and group productivity, which is beneficial to the overall development process.
In the same context, the UAE government has adopted the highest standards of governance, and has allocated specific activities and initiatives to it to motivate institutions in all sectors to adhere to the idea of governance as an original approach in the work system.
The positive impact of this factor is clearly evident during the period that witnessed the spread of the epidemic, as the human capital represented in the confidence and commitment of society was the most important factor in the phase of confronting the disease, in addition to its pivotal role in the recovery phase in the short and long term.
Indicator methodology
The index of economic recovery from the effects of the "Covid-19" epidemic, published 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 with the aim of presenting a comprehensive presentation that discusses the risks of recession for a period. How to formulate strategies that meet the requirements of the current stage and at the same time enable countries to take effective measures and measures to enhance resilience in the face of future shocks.
The index includes 122 countries that were selected based on the availability of data, and the index uses a specially designed dataset to measure three main axes: the resilience of the health system, the ability of countries to absorb economic shock, and economic resilience.
The main axes are measured through 15 sub-axes that analyze the performance of each country in detail using more than 100 indicators.
The Horizon Group is a research institution that aims to support efforts to move towards a sustainable, inclusive and technology-based future economy through a set of axes, foremost among which is innovation, achieving inclusiveness and economic resilience, enhancing youth capabilities, and raising the readiness of sectors to prepare for the future.
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