DUBAI: Abu Dhabi’s Crown Prince Mohammed bin Zayed Al-Nahyan has issued directives to continue all the approved capital expenditure and development projects in the emirate, he tweeted on Monday.
The measures are expected to preserve the capital’s economic gains, especially startups and SMEs, he said.
The crown prince also said he gave further instructions for plans which will stimulate strategic investment sectors and ordered the creation of “a new committee headed by the Department of Finance, with members from the Department of Economic Development and local banks to review lending options to support local companies.”
UAE authorities will keep working on enhancing and easing investment laws and regulations to make them more flexible, Mohammed bin Zayed added.
Our authorities will continue developing and easing the investment laws and regulations, making them more flexible to maintain our economic development.
We are confident in the resilience of our national economy & its ability to navigate market fluctuations.
— محمد بن زايد (@MohamedBinZayed) March 16, 2020
Local authorities changed some financial regulations after various international and regional coronavirus-related measures were taken, some which had a negative impact on the global economy.