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UAE Approves 33 Initiatives to Support Economic Sector

UAE Approves 33 Initiatives to Support Economic Sector

Tuesday, 4 August, 2020 - 08:00
Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai chairs UAE Cabinet meeting. (WAM)

Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai revealed on Monday approving a general plan and agile package of 33 initiatives to support economic sector and stimulate business activity until 2021.


He said the aim is to create a flexible economic environment, which encourages investment in the sectors of the future and stimulates them with new ideas.


This took place during the first in-person meeting after holding previous meetings virtually as a coronavirus precaution.


Sheikh Mohammed also said that UAE Cabinet meetings will continue from August rather than from September due to the current circumstances. "


"The work of the Cabinet will continue this summer due to the exceptional circumstances. Our success is connected to being continuously active, and our achievements are connected to teams that never stop working," he noted.


He also stressed the importance of flexibility in decision-making during crises, as well as the dynamic work and proactive plans during extraordinary circumstances.


The business stimulus package comes in light of government efforts to support the economic sector, in the wake of the repercussions of the coronavirus pandemic. It aims to create stimulating business environment that encourages practicing activities in most economic sectors.


The plan also aims to support and empower all stakeholders in the economic sector in order to increase growth rates in this pivotal sector.


The package includes 33 initiatives to be implemented until the end of 2021, covering all sectors and economic activities, through a flexible and easy-going plan for various activities to ensure the sustainability of key economic sectors, expand emerging sectors and creating new ones that support future visions based on adopting modern technology.


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