Dr Abdullah bin Mohammed Belhaif Al Nuaimi says that country is likely to witness a combination of a U-or V-shaped recovery following COVID-19
The UAE economy is likely to witness a combination of a U- or V-shaped recovery following COVID-19, on the back of a strong infrastructure pipeline, the Minister of Infrastructure Development Dr Abdullah bin Mohammed Belhaif Al Nuaimi.
Speaking during an interview with Bloomberg TV, the minister said that emirates currently has a pipeline of $5.4 billion of federal infrastructure projects, including $1.9 billion of state-sponsored housing programmes.
“The plans will continue,” he added, while also discussing the UAE’s infrastructure projects currently being worked on, and the impact of the coronavirus pandemic on the UAE economy.
Earlier this month, a report by BNC Networks found that projects worth $5.5 billion had been announced across the GCC in April 2020, primarily driven by Saudi Arabia, which contributed 67% of the total value of announcements, while the majority of new project announcements were main in the transport and utility sectors.