Dubai launches economic reset programme for post-coronavirus world

The UAE's commercial capital, Dubai, is launching an economic reset programme to ensure a more sustainable and resilient future for the Gulf emirate in the post-pandemic world.

Under the 'The Great Economic Reset Program', Dubai's economy department will try to convince governments to think beyond coronavirus and move to the next normal, collaborating with local, regional and international experts to preserve the gains made by the UAE, refuel the economy and ensure continued prosperity.

The programme has been launched in partnership with Mohammed bin Rashid School of Government (MBRSG).

As a first step, experts and leaders from different parts of the world are being brought together in a 'Virtual Policy Council,' an engagement platform run by MBRSG, to discuss the enduring impacts of COVID-19 on different facets of the economy and potential policy responses and initiatives, according to a press statement.

The first roundtable of the council was held as an invitation-only forum where distinguished global experts shared their assessment of the mega-disruptions of the pandemic on the future of globalisation, it added.

"In the highly uncertain environment now, extensive collaboration and cooperation between all stakeholders are vital to our future prosperity. The Virtual Policy Council will propose the best approaches Dubai and the UAE can adopt to address the risks and opportunities in the next normal economy," said Mohammed Shael Al-Saadi, CEO of the Corporate Strategic Affairs sector in Dubai Economy.

The coronavirus has claimed 353 lives with over 61,000 confirmed cases in the UAE.