Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum has hailed the emirate’s resilience in the face of the coronavirus pandemic.
Chairing a meeting of The Executive Council, Sheikh Hamdan said Dubai had proved its ability to weather crises and overcome challenges, supported by its “flexible polices and future-oriented strategies”.
He said in comments published by state news agency WAM: “I am proud of the exceptional efforts of government and private sector entities in 2020, and we expect more from them in the coming years. We will provide all the resources and support necessary for them to achieve the objectives of the Council’s 2021 Agenda, and I will personally follow up on their implementation. We have ambitious goals, which require diligence and dedication to achieve.”
The Crown Prince added: “We have learned from Mohammed bin Rashid that we should shape our own future. The next phase is very important for our development and we are preparing for it with new strategic projects that reflect our lofty aspirations for the future. I am confident in the ability of the various teams in Dubai Government to transform this vision into reality.”
Sheikh Hamdan also approved the 2021 agenda of The Executive Council of Dubai and the Strategic Affairs Council which covers various key drivers of growth including government services, the digital economy, investments, SMEs, public-private partnerships, facilitating cost-efficiencies for businesses and residents and enhancing the emirate’s competitiveness and sustainability.
The Dubai Department of Economic Development told the meeting that the various economic stimulus packages introduced by the Dubai Government in 2020 had supported the revival of various sectors and accelerated the emirate’s economic recovery after the coronavirus.
In October, Dubai offered AED500 million ($136 million) of aid for businesses hit by the coronavirus crisis.
The package, which consists of rent breaks and the elimination of government fees and fines for some businesses, brought the total government support to AED6.8 billion ($1.85 billion).
Under @HHShkMohd’s directives, we announce a AED500 million stimulus package to support the local economy, bringing the total worth of stimulus packages announced this year to AED6.8 billion. pic.twitter.com/X4YCmU5X0e
— Hamdan bin Mohammed (@HamdanMohammed) October 24, 2020
The emirate is known as the business hub of the Middle East and has been hit hard by Covid-19 as it relies on trade and tourism.
The International Monetary Fund said it expects the UAE’s economic output to shrink 6.6 percent this year. Job losses and weak domestic demand remain a drag on businesses in the expatriate-dominated city.
The Council also approved an organ transplant programme which aims to contribute to the efforts to transform Dubai into a global healthcare tourism destination and a centre for medical research.
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