Economy: Vaccination is the most important weapon in the current stage to accelerate the pace of recovery

The Minister of Economy, Abdullah bin Touq Al-Marri chaired the first meeting of the Economic Integration Committee, in the presence and membership of the Minister of State for Entrepreneurship and Small and Medium Enterprises, Dr. Ahmed Belhoul Al Falasi, Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al-Zeyoudi, and representatives of the local economic development departments in the emirates of the state.

During its first hypothetical meeting, the committee discussed a set of items aimed at developing mechanisms for cooperation and coordination between the Ministry of Economy and the departments of economic development to enhance economic integration at the federal and local levels, most notably the review of the latest developments and means of cooperation in implementing the package of initiatives of the recovery and economic recovery plan, and the cooperation mechanisms between the ministry And departments in the file of combating money laundering and combating terrorist financing, and the requirements of the Gulf Common Market.

Bin Touq emphasized that integration, coordination and economic planning at the federal and local levels according to the highest standards and with fast and efficient work mechanisms, will be the title of the next stage, indicating that vaccination is the most important weapon in the current stage to accelerate the pace of recovery and increase economic growth rates.

Bin Touq indicated that the economic work model pursued by the UAE is a unique model based on mapping strategies and anticipating the future in accordance with the vision and directives of the wise leadership, and by interaction between the concerned authorities at the federal and local levels, and in partnership with the private sector and various stakeholders.

He stressed that this represents one of the pillars of leadership and distinction achieved by the UAE, especially in the economic field, given the richness and diversity provided by this model and its ability to generate and apply innovative ideas, implement strategic development projects, ensure evaluation, correction and continuous development, and thus adopt practical and effective economic policies.

Bin Touq added: “The Economic Integration Committee represents a new and important player in strengthening the economic model of the state in accordance with the principles of partnership, complementarity of roles, coordination and joint work, and through it we will work on dealing with all priority economic files in the country and implementing the economic growth process in every emirate of the state. Thus, developing the national economy as a whole and shaping the features of the future economy over the next fifty years.

He stressed the importance of the axes discussed by the committee in its first meeting, especially the local federal cooperation in implementing the initiatives of economic recovery and advancement from the "Covid-19" pandemic, and the many files that would support the growth and competitiveness of the country's economy regionally and globally.

The meeting of the Economic Integration Committee witnessed a review of the outputs and results of the Economic Recovery and Development Committee and the progress made in implementing a package of flexible initiatives to accelerate the pace of recovery of economic sectors from the crisis of "Covid-19" and enhance the growth of various activities and businesses in the country according to a flexible and sustainable model. The latest developments in the implementation were also reviewed. Initiatives of the first phase, means of cooperation and ongoing preparations to start implementing the initiatives of the second phase during the coming period.

In addition, the meeting discussed ways to develop mechanisms of integration and coordination between the Ministry of Economy and the Departments of Economic Development regarding anti-money laundering and combating terrorism regulation legislation, and frameworks for implementing national requirements and entitlements in this file, specifically in the business sector and specific non-financial professions that the Ministry of Economy supervises in this regard. the side.

The meeting also discussed developing a new vision in the matter of the national economic registry and the mechanisms of linking with the authorities concerned with confronting money laundering in the country, in a way that achieves the directives of the wise leadership and the strategy and action plan of the Supreme Committee to confront money laundering, combat the financing of terrorism and combat illegal organizations.

In another axis, the meeting discussed ways of integration and cooperation at the federal and local levels to support and complete the requirements of the common Gulf market and its positive impact on the Gulf business, trade and investment environment. The meeting also discussed the most important outcomes of the last Gulf summit in the Kingdom of Saudi Arabia in the economic aspect, and cooperation in supporting and implementing the outputs and decisions. Related to the functions of the ministry and the economic departments in this aspect, according to the vision and directives of the wise leadership.

The departments of economic development presented a set of proposals and visions to develop mechanisms of economic integration in the UAE, enhance the business and investment climate in all emirates of the country, and increase coordination between the federal and local levels and between the local economic departments themselves.

It is noteworthy that the Economic Integration Committee was recently formed by ministerial decision by the Minister of Economy, and is charged with the tasks of proposing and coordinating policies and economic development programs among the emirates of the state, ensuring harmony and compatibility between local and federal economic systems, regulations and procedures, enhancing economic cooperation between the various emirates of the state, and submitting proposals and visions to develop Legislation that regulates economic life in the country.

Follow our latest local and sports news, and the latest political and economic developments via Google news