• Dubai Chamber meets Business Groups and Councils to evaluate economic landscape and to focus on building economic competitiveness
• Buamim: The economic incentive package is reflective of our wise leadership’s commitment to the interest of the investors and to support the business community in the face of global challenges
Dubai, UAE: His Excellency Hamad Buamim, President & CEO, Dubai Chamber of Commerce and Industry, affirmed that the Chamber is committed to strengthening the partnership of public and private sectors to face global challenges and enhance the competitiveness of the business environment in the emirate, keeping in mind that this partnership is strategic and fundamental to the role of the chamber as a representative and supporter of the interests of the business community in the emirate.
Buamim pointed out that the wise leadership was proactive in making decisions that enhance the competitiveness of the private sector and the business community, as His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, announced the launch of the Economic Incentive Package during the next three months for the retail, trade, tourism and energy sector.
In addition to this, the private sector can look forward to additional economic stimulus package, to be announced by the wise leadership in order to improve the competitiveness of the private sector and support it in facing global challenges.
According to the President & CEO of the Dubai Chamber of Commerce the emirate attaches great importance to the business community and is keen to support its interests, enhance its competitiveness and help it find solutions.
This initiative is a strong message to the privates sector from our leadership that we, the emirate, stand by the interests of investors, and will work to grow their investments, provide a secure environment conducive to their growth, and not leave them in the face of global challenges, Buamim remarked.
Updating the Business Groups & Councils
Yesterday, during his first quarterly meeting of 2020 with representatives of Business Groups and Councils, which fall under the Chamber’s umbrella, yesterday, Buamim spoke about the discussions that the Chamber has had about adopting a number of arrangements and measures aimed at reducing the negative effects of global challenges, with relevant government department and authorities.
Buamim reiterated that Dubai pays great importance to the business community and is eager to support its interests, enhance its competitiveness, and help it find solutions to the challenges it faces.
“The precautionary and preventive measures taken by the government to confront the risk of the spread of Covid-19 were extremely prompt, efficient, transparent and professional, and put the safety and security of citizens, residents and visitors as a priority,” said Buamim.
“The UAE was one of the first countries to tackle the coronavirus and has an integrated health system and highly advanced institutions and services that have proved their capacity to limit the spread of the virus in the country,” Buamim added.
He pointed out that Dubai has proven its capability to find innovative solutions to address global challenges, and in this, public private partnerships have a significant role to play.
Buamim further stated that the current situation resulting from the crisis poses a challenge for the business sector, and the economic situation is currently being evaluated. Efforts are being made to come up with innovative solutions that reduce the negative repercussions of the crisis on the business sector and Dubai’s reputation as a reputation as a global tourist, logistical and commercial centre connecting all global markets.
His Excellency emphasized that the priority of the Chamber during the current period is to ensure the smooth continuity of work despite the global uncertainties and to try to mitigate any negative impact on the business sector through open dialogue with both the public and private sectors.
He indicated that remote work for the business sector has become a tangible reality that allows companies to deal with global changes, stressing that Dubai is able to find solutions to the global challenges it faces by stimulating the strategic partnership between the public and private sectors.
The Head of Dubai Chamber’s representative office in China provided the latest updates on the impact of Covid-19 on the Chinese economy, adding that measures taken by the country have helped in achieving positive results. He said that China now has had a high degree of expertise that can be used in the health and technology sectors, especially in remote working.
Private sector representatives who attended the meeting praised Dubai Chamber’s efforts in organising the meeting, commending its transparency and its eagerness to help the private sector raise competitiveness despite the global challenges. They extended their support to preventive and precautionary measures taken by the government and expressed their trust in Dubai’s ability to navigate the impact of the global Covid-19 crisis on economies.
