Sheikh Mohammed: UAE is planning quickest post-pandemic recovery

Vice President and Ruler of Dubai is presented with Fifty Economic Plan at meeting

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The UAE aims to have the economy that recovers fastest in the world from Covid-19, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said on Tuesday.

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.

He chaired a meeting with the Ministry of Economy’s task force to review post-coronavirus plans.

Sheikh Mohammed was presented with the Fifty Economic Plan, which includes the ministry’s strategies for the next decade.

The plan outlines the main goals for the economy to be achieved by 2030.

“We want a competitive national economy, well integrated, acting proactively, and make quality strides,” Sheikh Mohammed said.

He said the government promoted a push to a new economy based on knowledge, smart technology and advanced sciences.

The capital of this new economy is passionate talent, Sheikh Mohammed said.

“The economic equation of the next phase consists of a conducive business and legal environment, along with efficient logistics services,” he said.

The Fifty Economic Plan is part of a strategy launched by Sheikh Mohammed in December last year, when 2020 was declared the year “Towards the Next 50”.

In this year, the government aims to set blueprints for the UAE’s development over the next 50 years and prepare for Golden Jubilee celebrations in 2021.

The plan includes 33 initiatives centred on five main pillars, which identify the framework of the economic system for the decade.