U.A.E. Sets Two-Stage Plan to Reopen Economy as Virus Spreads
U.A.E. Sets Two-Stage Plan to Reopen Economy as Virus Spreads
(Bloomberg) -- The United Arab Emirates rolled out a two-phase plan to reopen the economy amid efforts to contain the spread of the coronavirus.
In the first phase, the economy will reopen supported by incentives for the private sector that are at 282.5 billion dirhams so far, state-run news agency WAM reported, citing Economy Minister Sultan Al Mansoori.
The next phase will see a long-term stimulus plan to speed up the recovery and encourage investments in digital economy, including 5G networks and Artificial Intelligence.
“The country’s economy is resilient and has support in place that reinforces its ability to overcome crises,” he said.
The minister didn’t provide a timeline of when closed businesses would be allowed to reopen.
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