Tuesday 20 October 2020
The committee responsible for the coordination and follow-up of the implementation of 33 initiatives to support economic sectors, as part of the post-COVID economic plan, held a virtual meeting and approved the implementation plan, which is divided into three phases.
The first phase seeks to provide immediate support for business sectors and the economy by carrying out 15 major initiatives, while the second phase will launch complementary support for sectors to enable a rapid economic recovery.
The third phase will provide integrated support to vital sectors and will open up a sustainable and flexible development path for the economy, and continue into the future.
Stimulus packages that helped mitigate the impact of the pandemic have proved that the UAE economy is resilient. The 33 initiatives that form part of this package - launched on 3 August 2020 - will help unify cross-sector efforts, while their implementation, follow-up and evaluation will lead to positive economic and social outcomes in high-productivity sectors, as well as SMEs, in order to accelerate the process of recovery and set in place medium and long-term initiatives to ensure sustainable growth.