UAE unveils two-phase strategy to reopen economy, backed by $79bn stimulus plans - Arabianbusiness:
The UAE has unveiled a two-phase plan to reopen the country’s economy and strengthen it in the wake of the Covid-19 pandemic, UAE Minister of Economy Sultan bin Saeed Al Mansouri announced on Tuesday.
During a virtual meeting with government representatives on Tuesday, Al Mansouri said that the first stage of the plan – which is focused on the short-term – includes the gradual reopening of businesses, supported by stimulus plans that so far total AED 282.5 billion ($79 billion).
According to Al Mansouri, the second-phase is designed to accelerate recovery and advance growth, with a high focus on the digital economy and technologies such as Artificial Intelligence, 5G networks, the Internet of Things (IoT) and smart cities.
The second phase of the strategy will also focus on blockchain, the ‘green economy’ and renewable energy, electric cars, 3d printing, biotech, genetic engineering and robotics.
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