UAE is planning fastest-recovering economy in the world post-Covid-19: Sheikh Mohammed

UAE VP expresses great optimism after reviewing 'The fifty economic plan' outlining the country's fiscal policy for next decade.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, said that the UAE is striving is to have the fastest-recovering economy in the world and the most stable and diversified economy in the long term.

Sheikh Mohammed also said that the UAE already boasts a strong economy, is confident about its decisions and has a strong belief about its future.

His Highness' remarks came while chairing a meeting with Ministry of Economy's task force to review the ministry's post Covid-19 plans. The meeting was attended by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council; His Highness Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs; and Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs.

Sheikh Mohammed was briefed about the ministry's bid to build the future economy of the UAE, entitled 'The fifty economic plan', which represents the ministry's vision for the next decade, and key outcomes for the national economy by 2030.

Abdullah bin Touq Al Marri, Minister of Economy, Dr Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and Small and Medium Enterprises (SMEs) and Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, presented the comprehensive plan of the ministry, along with key aspects of the 'The fifty economic plan'.

"We want a competitive national economy, [which is] well-integrated, acts proactively and makes quality strides," Sheikh Mohammed said.

He added that the UAE government is promoting a drive towards a economy post-Covid-19 which is based on knowledge, smart technology and advanced sciences. His Highness also said that the cornerstone of this new economy is passionate talent. "The economic equation of the next phase consists of a conducive business and legal environment, along with efficient logistics services," Sheikh Mohammed said.

The fifty economic plan is part of strategy launched by His Highness in December 2019, in which 2020 was declared as the year 'Towards the next 50'. This involves all segments of UAE society shaping life in the UAE for the next 50 years and preparing for the country's Golden Jubilee celebrations of 2021.

The ambitious economic plan revolves around five main pillars and 33 initiatives that identify the framework and mechanism of the economic system in the next decade. Its new economic model is based on a comprehensive work plan, with the contribution of a number of specific government agencies.

The five pillars will focus on integrated economy, SMEs and entrepreneurship, tourism, foreign direct investment (FDI), doubling exports and attracting talents.

This article was originally published here on khaleejtimes.com

UAE is planning fastest-recovering economy in the world post-Covid-19: Sheikh Mohammed

Inspection of tracks and bridges

Al Tayer and Al Marri inspected cycling tracks and the pedestrian bridge on King Salman bin Abdulaziz Al Saud Street at Dubai Marina. The bridge stretches 65 metres and handles about 8,000 persons per hour in all directions and is the first 4-way bridge built at the intersection of the King Salman bin Abdulaziz Al Saud Street and Al Gharbi Street, near Jumeirah Beach Residence.

Al Tayer said: “The construction of pedestrian bridges is part of Dubai’s strategy targeting a zero-fatality rate to rank Dubai among the world’s safest cities in traffic safety by 2021. RTA considers certain perimeters when determining the locations of pedestrian bridges in Dubai such as the intensity of traffic, pedestrian accidents and fatalities, speed limit, number of lanes, the movement of people between the two sides of the road, and the nearest pedestrian crossing and bus stops.”

“The number of footbridges constructed in Dubai soared from 13 in 2006 to 116 bridges this year. RTA plans to build other 34 pedestrian bridges during 2021-2026, which will bring the total number of pedestrian bridges to 150,” noted Al Tayer.

“This is part of RTA’s efforts to improve pedestrians’ safety to reduce pedestrian fatalities by 76.5 per cent between 2007 and 2019,” he added.

Cycling lifestyle

Al Marri praised RTA’s efforts to upgrade the infrastructure of cycling tracks which are aligned with the deliverables of the ‘Cycling is a Lifestyle’ Innovation Lab recently held in Dubai.

Participants at the event pledged to work towards enhancing safety standards, improving perceptions of bicycle use, promoting the use of cargo bicycles, development of standards and policies, creating dedicated areas for bicycle use and promoting a bicycle renting culture.

The participants also called for developing an infrastructure that not only ensures safety but also provides cyclists a suitable atmosphere to engage in the activity. They also advocated the creation of safer crossings and more bicycle paths, provision of facilities and services on cycling tracks and organisation of events and activities to motivate the public to use bicycles as a mean of transport.

This article was originally published here on gulfnews.com

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