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Minister of Economy reviews Interim Committee’s efforts to deal with impact of COVID-19 on national economy

Minister of Economy reviews Interim Committee’s efforts to deal with impact of COVID-19 on national economy

H.E Abdulla Bin Touq Al Marri, UAE Minister of Economy, assessed a detailed record on the development of efforts carried out by the Interim Committee to Deal with the Impact of COVID-19 on the National Economy, during the Committee's fifth virtual meeting, which was chaired by His Excellency.

H.E was briefed on the economic as well as financial implications of all the steps taken on by the federal and also local governments over the past months given that the onset of the pandemic, and the extent of their effectiveness in supporting the country's business continuity during these times.

The meeting was participated in by H.E Eng. Mohammed Bin Abdul Aziz Al Shehhi, Undersecretary of the Ministry of Economy for Economic Affairs; H.E. Abdullah Bin Ahmed Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade Affairs; H.E Younis Haji Al Khoori, Undersecretary of the Ministry of Finance; H.E Saif Ahmed Al Suwaidi, Undersecretary of the Ministry of Human Resources and Emiratisation for Human Resources Affairs; H.E. Saif Hadef Al-Shamsi, Deputy Governor of the UAE Central Bank; Dr Said Ali Bahbouh, Undersecretary of the Ministry of Justice; H.E Rashid Al Balooshi, Undersecretary of Department of Economic Development Abu Dhabi; H.E Sami Al Qamzi, Director General of Dubai Economy.

H.E Bin Touq said that the Interim Committee continues its efforts to support the developments in the country's economic environment and ensure that it benefits from the most recent measures, initiatives and stimulus packages announced by the Government. 

Furthermore, the Committee is continuously measuring its success in developing sustainable and practical policies and solutions that suit the needs of the business sector and contribute to its speedy recovery. 

He asserted that the Ministry and its partners in the Committee will directly and systematically assess the implementation of packages and initiatives and will rise by all efforts to support business activities and develop the economy.

H.E clarified that the measures taken by the members of the Committee were divided into several axes, the most prominent of which are: protecting bank customers from individuals and companies; protecting the economic structure; stimulating and supporting the tourism and foreign trade sectors; easing burdens on individuals and private sector institutions and continuing spending on infrastructure projects to drive development, supporting national industries, and the measures taken by the governments of Abu Dhabi and Dubai and local governments to support the business sector in all Emirates.