UAE to launch 50 projects to boost economy

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Abdulla Bin Touq Al Marri, Minister of Economy of the United Arab Emirates, attends a session of the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia, June 3, 2021. REUTERS/Evgenia Novozhenina/File photo

DUBAI, Sept 5 (Reuters) – The United Arab Emirates plans to launch 50 new projects to boost the country’s economic competitiveness, Economy Minister Abdulla bin Touq said on Sunday.

The Gulf state has launched several measures over the past year to attract investment and help the economy recover from the effects of the COVID-19 pandemic.

Among the projects, the UAE and the Emirates Development Bank will invest 5 billion dirhams ($1.36 billion) in digital technologies, Minister of Industry and Advanced Technology Sultan al Jaber said at a media briefing on Sunday.

($1 = 3.6728 UAE dirham)

Reporting by Lisa Barrington
Editing by David Goodman

Our Standards: The Thomson Reuters Trust Principles.

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