Sector committees emanated from the Abu Dhabi Chamber’s Board discussed the challenges and obstacles that the Abu Dhabi private sector encounters under COVID-19 pandemic.
This aims at enabling the sector to continue its activities and paving the way in the current circumstances ensuring that these organizations are fully performing their roles in social and economic development across Abu Dhabi within the Emirate’s 2030 economic vision.
Coordinating with the concerned authorities, these committees, during their meetings, offered a number of recommendations to mitigate COVID-19 impact through follow-up plans and support. These included the most impacted sectors like real estate, commercial, insurance, tourism and travel as well as reviewing all the government aspirations in the current and future period.
Commercial sector committee discussed a number of economic diversities facing the commercial sector such as the changes in the workers’ accommodation in addition to the measures that banks operating in the UAE adopt to back merchants by affording cash liquidity particularly for SMEs. Besides, they discussed the challenges that face restaurants and the preparations that should be adopted in future.
In turn, insurance companies working group shed light on insurance prices of vehicles and engineering projects and it was agreed to enhance cooperation with the concerned authorities to curb the phenomena that might negatively affect the public interest.
The committee of travel and tourism working group touched on a mechanism for addressing the health crises that are ravaging the world and the challenges encountering the sector during such exceptional circumstances.
Besides, they discussed the ways of taking advantage of such challenges and utilizing them. They also pointed out to the pivotal role of the media in restoring tourism to pre-Corona pandemic as well as creating plans to ensure tourism sector continuity vital presence as a strong support for the national economy.
Through their regular meetings, the Abu Dhabi Chamber's sector committees focus on strengthening communication with the concerned authorities to participate in finding appropriate solutions in supporting distressed companies and projects during the pandemic. They also discuss strengthening communication channels between the Chamber and all private sector companies to review all the current updates and efforts exerted by the Chamber to meet the requirements and needs of the current phase and the rapid changes in the local, regional and international economic arena.