The UAE's Ministry of Economy will continue to focus on implementing a “flexible package" and its plan of 33 initiatives to support the country’s economy and boost its business competitiveness.
“By introducing the 33-initiative plan, we aim to enhance our partnerships with stakeholders, further develop the economic sectors, support the private sector and create solutions to existing and potential challenges,” Thani bin Ahmed Al Zeyoudi, minister of state for foreign trade, said in a statement on Thursday.
The 33 initiatives announced earlier this month, focus on the development of trade, green economy and food security, as well as finance, energy and health sectors, among others.
“The role of the private sector is essential to building a competitive economy," he said.
Supporting small and medium-sized enterprises (SMEs) is also a key pillar of new economic initiative.
“We seek to enhance the entrepreneurs’ ability to overcome challenges brought about by the Covid-19 pandemic, as well as encourage them to adopt a sustainable business model characterised by technological innovations and digitisation,” Ahmad Belhoul Al Falasi, minister of state for entrepreneurship and SMEs, said.
The pandemic has disrupted global trade and tipped the world economy into the deepest recession since the Great Depression. The International Monetary Fund is projecting a 4.9 per cent contraction this year and a sluggish recovery in 2021.
The UAE has rolled out several measures to support its economy and now the country aims to be the fastest recovered economy in the world from Covid-19 crisis, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said this week.
Sheikh Mohammed said recovery was the top priority for the country’s economy in the short term, but long-term plans will make it the most stable and diversified.
“We want a competitive national economy, well integrated, acting proactively, and make quality strides,” he said at the time.
The UAE was the first in the Middle East and North Africa region region to introduce economic stimulus measures, including zero interest funding to banks to boost lending growth. It also unveiled initiatives such as discounted utility bills and fee waivers.
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Know before you go
- Jebel Akhdar is a two-hour drive from Muscat airport or a six-hour drive from Dubai. It’s impossible to visit by car unless you have a 4x4. Phone ahead to the hotel to arrange a transfer.
- If you’re driving, make sure your insurance covers Oman.
- By air: Budget airlines Air Arabia, Flydubai and SalamAir offer direct routes to Muscat from the UAE.
- Tourists from the Emirates (UAE nationals not included) must apply for an Omani visa online before arrival at evisa.rop.gov.om. The process typically takes several days.
- Flash floods are probable due to the terrain and a lack of drainage. Always check the weather before venturing into any canyons or other remote areas and identify a plan of escape that includes high ground, shelter and parking where your car won’t be overtaken by sudden downpours.
At Eternity’s Gate
Director: Julian Schnabel
Starring: Willem Dafoe, Oscar Isaacs, Mads Mikkelsen
Three stars
UAE currency: the story behind the money in your pockets
What is graphene?
Graphene is extracted from graphite and is made up of pure carbon.
It is 200 times more resistant than steel and five times lighter than aluminum.
It conducts electricity better than any other material at room temperature.
It is thought that graphene could boost the useful life of batteries by 10 per cent.
Graphene can also detect cancer cells in the early stages of the disease.
The material was first discovered when Andre Geim and Konstantin Novoselov were 'playing' with graphite at the University of Manchester in 2004.
Saturday's schedule at the Abu Dhabi Grand Prix
GP3 race, 12:30pm
Formula 1 final practice, 2pm
Formula 1 qualifying, 5pm
Formula 2 race, 6:40pm
Performance: Sam Smith
Essentials
The flights
Return flights from Dubai to Windhoek, with a combination of Emirates and Air Namibia, cost from US$790 (Dh2,902) via Johannesburg.
The trip
A 10-day self-drive in Namibia staying at a combination of the safari camps mentioned – Okonjima AfriCat, Little Kulala, Desert Rhino/Damaraland, Ongava – costs from $7,000 (Dh25,711) per person, including car hire (Toyota 4x4 or similar), but excluding international flights, with The Luxury Safari Company.
When to go
The cooler winter months, from June to September, are best, especially for game viewing.
