The UAE economic recovery will further strengthen in the second half of the year (H2) as the vaccine drive, stimulus plans, visa reforms, and government policy actions facilitate businesses.

All this and more has restored confidence in investors and consumers, experts say. Leading corporate executives and industry leaders say the non-oil sector will continue to drive economic recovery in H2 as the government implemented policy measures to contain the Covid-19 pandemic in the country. UAE businesses proved their resilience in the most challenging times and are now looking ahead to a promising future.

Sachin Gupta, General Manager of Gulf Pinnacle Investments (GPI), the UAE subsidiary of Gulf Pinnacle Logistics, said. Economic activity is picking up and will gradually return to the pre-Covid era in due course.

Referring to stimulus packages worth Dh7.1 billion ($1.93 billion) announced by the Dubai government since the outbreak, he said these stimulus plans played a crucial role in reviving economic activity in the emirate.

“There are positive signs for recovery in H2 as most economic activities have resumed. The outlook for most Middle Eastern economies looks positive in the latter part of the year, however keeping coronavirus levels low will be essential to ensure a sustainable recovery in coming months,” Gupta said.

A logistics and transportation company, Gulf Pinnacle  is an 'integrator of the highly fragmented mid-sector market, encompassing the business models of freight-forwarding, warehousing, and courier services.

Najeeb Kabeer, partner and managing director of Century Express Courier Services, said the region's economy is in an excellent position to capitalise on the emerging growth opportunities.

“Preparations are in full swing to give final touches to Expo 2020 Dubai in October. In addition to this, tourist activity will pick up, and increasing oil demand is also a good omen for the global economy,” Kabeer said.