UAE witnessing growth that exceeds pre-pandemic levels: Ministry of Economy 

First phase of UAE's 33 initiatives now 100% complete 

  
Dubai skyline. Image courtesy Dubai Media Office Twitter handle.

Dubai skyline. Image courtesy Dubai Media Office Twitter handle.

The UAE’s economy is witnessing growth that has already surpassed the levels seen prior to the coronavirus pandemic, according to a government statement. 

The Ministry of Economy issued the statement on Sunday, as it announced the completion of the first phase of the country’s 33 initiatives, which are part of the government’s post-COVID economic plan to support vital sectors. Work on the second phase of the initiatives is also now 50 percent complete. 

In a post on Twitter, the ministry said the growth in trade, investment, number of new companies, as well as work permits and economic revenues, has exceeded pre-pandemic levels. 

The Minister of Economy, Abdulla bin Touq Al Marri, was also quoted by the UAE Media Office as saying that the national economy is now “in a strong position” and very ready “for the future”. 

“The recovery phase has been passed to the stage of growth in vital economic indicators,” the tweet said. 

Last July, the government announced the 33 initiatives with the aim of enabling the UAE to have the “fastest economic recovery in the world.” 

“With the completion of the implementation of the first phase and 50 percent completion of the second phase of the 33 initiatives, the national economy is witnessing growth that exceeds pre-pandemic levels in trade, investment, number of new companies, work permits and economic revenues,” the Ministry of Economy said. 

(Writing by Imogen Lillywhite; editing by Cleofe Maceda) 

Imogen.Lillywhite@refinitiv.com

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2021


More From GCC