Dubai makes fast economic rebound
Dubai’s economy has been witnessing a rapid rebound from the impact of Covid-19, thanks to the effective preventive health care measures and robust economic policies, Sami Al Qamzi, Director-General of Dubai Economy told Gulf News in an interview.
Since the onset of the Covid-19 pandemic, Dubai had responded with swift and efficient health care measures and economic support initiatives that protected lives and livelihoods. This has enabled the emirate to simultaneously contain the spread of the Covid-19 virus and its impact on the economy and paved the way for a quick recovery. “When the pandemic started spreading in the region, Dubai realised from the beginning how important it is to maintain people’s health as well as maintaining and keeping a healthy business going on. It is no surprise that Dubai achieved this objective,” said Al Qamzi.
The comprehensive preventive and support measures were implemented following the directives of the leadership. Dubai Economy worked closely with the Crisis Management Committee and other government entities to set up the health prevention measures in business sectors, as well as enhance and enforce these measures on the ground.
Dubai Economy conducted 170,000 safety precaution inspection visits that helped to manage the spread of the Covid-19 virus since it was first reported end of February 2020. Once the immediate threat to public health was addressed through a host of preventive measures that brought the spread of infections under control, the focus was turned to the revival of businesses that were affected by the pandemic. This approach enabled a faster return to normal life and the resumption of economic activity in record time.
Opportunities in crisis
“Dubai Economy coordinated with the shopping malls and major stores to implement the gradual opening, by delivering the necessary information and criteria from various agencies to the business owners, to help them navigate the crisis smoothly,” said Al Qamzi.
“We managed to work remotely and deliver all our services with a high satisfaction rate. We made the process of registering new companies easy and fast, which reflected the increase in the numbers of issued and renewed licenses,” said Al Qamzi.
Dubai pulled in 455 FDI projects worth Dh24.7 billion in 2020, exceeding the annual average of 441 projects over the past five years, according to the “Dubai FDI Monitor” data issued by the Dubai FDI.