UAE forms Covid-19 recovery committee to boost economy

Committee to co-ordinate the country's recovery from the widespread economic effects of the pandemic

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The UAE formed a new committee, tasked with leading the country's economic recovery post-pandemic, on Saturday.

The National Covid-19 Crisis Recovery Management and Governance Committee must develop support programmes for businesses and industries to aid in the country's efficient financial recovery.

This will involve developing a strategic plan that sets out roles, responsibilities and key strategic and operational performance indicators with the end goal of ensuring a safe return to normalcy across society, reported state news agency Wam. Part of this will include identifying the financial and economic resources required for supporting the recovery phase.

It was formed by the Supreme Committee for Covid-19 Crisis Management and will be chaired by Dr Sultan Al Jaber, Minister of Industry and Advanced Technology. Its members include government officials that represent a variety of ministries and federal departments.

The committee will set out key performance indicators for each sector, as part of the "post-Covid-19 phase", to monitor the recovery of businesses and government sectors.

Its responsibilities also include establishing an electronic data link for digital indicator-based statistics.

While developing the strategic recovery plan, the committee will focus on consolidating the UAE's strengths and competitive advantages to ensure the security and sustainability of vital sectors, including food security, energy and pharmaceuticals.

The committee must also support promising sectors that have significant growth prospects in the post-Covid-19 phase, including advanced technologies, healthcare, telecoms and logistical services.

One of its goals will be to meet domestic demand by boosting local value-added content in a way that supports SMEs.

The UAE leads Arab nations and ranks 37th globally in the Covid-19 Economic Recovery Index Ranking, developed by the Horizon Research Group.