Senior Emirati and Israeli vaccine officials told of how their countries turned the tide against the Covid-19 pandemic.
Dr Farida Al Hosani from the UAE and Prof Nachman Ash from Israel on Tuesday described the race against time to start the world’s fastest mass vaccination programme from scratch.
They appeared on a joint panel with UK vaccine minister Nadhim Zahawi on the final day of the Hope Consortium conference that took place on March 29 and 30 in Abu Dhabi.
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Israel and the UAE are first and second in the vaccination drive, with the Emirates having reached more than 50 per cent of its population two weeks before its end-of-March target.
We were vaccinating in majlises. We converted them to vaccination clinics
Israel, home to the world's fastest vaccination drive, has administered doses to more than five million of the six million eligible in just three months.
The UK has also launched a hugely successful drive. Authorities there started to lift lockdown restrictions on Monday.
Describing how Israel has emerged from a brutal third wave of the virus that initially swept the country in January, Prof Ash said leadership and logistics were key.
“It was really a huge project during these last three months,” he said.
Prof Ash spoke about how teams split the vaccines, which arrive in large packets, into smaller parcels for delivery across the country daily.
“We have a central command,” he said. “And we have a central storage point, a deep freeze point and from there the vaccinations are sent every day to the hospitals.
“We wanted to go to every village, to every city, so we had to spread out our vaccinations.”
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In the UAE, logistics also played a key role in ensuring the country’s large network of hospitals, clinics and other temporary vaccination centres received the right number of supplies.
“We tried to ensure good access for everyone, including different workers who might be busy," said Dr Al Hosani, the official spokeswoman for the UAE health sector. "So we had to send field teams to provide the vaccine," she said.
“We also introduced vaccination drive-through centres. Also, we were vaccinating in majlises. We converted them into vaccination clinics.”
She said the preparation for the mass vaccination campaign began “months” before it started. The government worked with the private sector to roll out the programme and innoculate “huge numbers” each day. Awareness among the public was important, she said.
“We were engaged with the community ahead of the campaign. They were part of the clinical trial in the UAE, so they are aware of the study and prepared for the vaccine coming,” she said.
In the UK, the NHS was supported by the army to roll out the mass vaccination campaign.
That began in December, just as the country was entering a strict lockdown to stem the spread of the more contagious Kent variant.
“Pretty much everything was shut down,” said Mr Zahawi. “We also knew we were getting very close to the approval of the vaccines.
“And we began deploying, as Israel and the UAE did, the Pfizer BioNtech vaccine. We built an infrastructure, deliberately much bigger in terms of its ability to vaccinate than the supply we were due to take in.” That enabled the country to ramp up the administration of vaccinations easily as supply increased.
About 30.44 million people in the UK have received their first dose, while 3.67m had their second – about half of the UK's population.
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The specs: 2018 Volkswagen Teramont
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About Takalam
Date started: early 2020
Founders: Khawla Hammad and Inas Abu Shashieh
Based: Abu Dhabi
Sector: HealthTech and wellness
Number of staff: 4
Funding to date: Bootstrapped
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.