New Emirati Economic Incentives Are Flexible, Comprehensive: Foreign Media
Umer Jamshaid Published August 09, 2020 | 05:00 PM
ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 09th Aug, 2020) The new support initiatives launched by the Ministry of Economy, organised by a committee chaired by Abdullah bin Touq Al Marri, Minister of Economy, with the participation of relevant authorities, are key additions to the series of incentives adopted by the UAE to support its economic sectors, and were recently described by the foreign media as flexible and comprehensive.
Bloomberg mentioned Al Marri’s planned economic incentive packages, noting that the UAE had previously launched a package of measures and initiatives, including AED256 billion from the UAE Central Bank to support companies and banks.
The timely implementation of these initiatives was reflected by figures that show improvements to the UAE’s economy in the past month, according to Purchasing Managers' Index, PMI, data compiled by IHS Markit last week.
The plan to support the country’s economic sectors, which was approved by the UAE Cabinet, comprises 33 key initiatives and aims to adopt eight pillars over three stages.
The Economy Minister declared that it will launch initiatives to respond to the requirements of the current economic situation, while creating a safe and stable economic environment aimed at generating new investment opportunities.
The plan will also monitor global developments in light of the current circumstances, along with public behaviours and their effects on business activities, as well as oil price forecasts.
The Ministry of Economy also launched networking initiatives, in cooperation with the Federal Competitiveness and Statistics Authority and local and federal partners, to promote organisational partnerships that will reinforce the country’s position among the region’s largest economies.
Recent Stories
PSX gains 771 points
PITB HR Wing organizes Eid Milan celebration for children at PITB Day Care Cente ..
Cabinet briefed on progress of PIA privatization
Meeting held to streamline trade between Pak-Afghan , Central Asian Republics
SONY x TECNO - is this for real?
Progress of Aaghosh, Bunyad, Khud Mukhtar programs discussed
SBP to announce monetary policy on April 29
London stocks hit new record peak on takeovers
Summer School on Understanding Greenhouse Gas Emission and Measurement Technique ..
Rupee sees slight recovery against US dollar
Govt to out source waste management companies to generate revenue
Rawat police arrest four robbers; recover Rs 700,000
More Stories From Middle East
-
UAE announces ‘Zero Bureaucracy Program’ to reduce bureaucracy
3 months ago -
COP28 President-Designate welcomes Transitional Committee agreement to operationalise Loss and Damag ..
6 months ago -
Global Media Congress 2023 to feature Co-Production Majlis as a new networking platform
6 months ago -
Young female athletes shine at Abu Dhabi World Youth Jiu-Jitsu Championship
6 months ago -
King of Jordan receives Abdullah bin Zayed and ministers participating in Arab coordination meeting
6 months ago -
Abdullah bin Zayed participates in coordination meeting of Arab foreign ministers, joint meeting wit ..
6 months ago
-
3rd annual conference of Emirates Society of Clinical Microbiology kicks off in Dubai
6 months ago -
SIBF 2023 hosts Nobel laureate to discuss emergence of ‘Afrofuturism’ in global discourse
6 months ago -
ALC announces winners of Kanz Al Jeel Award 2023
6 months ago -
SIBF turns spotlight on remarkable contributions of women
6 months ago -
Global assets in spot bitcoin ETFs hit $4.16 billion
6 months ago -
Rescuers struggle to find Nepal quake survivors as deaths reach 157
6 months ago