Abu Dhabi Crown Prince announces measures to protect UAE economy

BANDAR AL-JALOUD / SAUDI ROYAL PALACE / AFP

His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, has announced a number of measures to stimulate the UAE's economy amidst the coronavirus crisis.

In a series of Tweets, Sheikh Mohamed said he has directed officials to ease investment laws and regulations, and applauded the Central Bank's AED 100 billion economic stimulus package.

His Highness also announced the introduction of a new committee headed by the Department of Finance "to review lending options to support local companies" and directed officials to continue development projects.

"We are confident in the resilience of our national economy & its ability to navigate market fluctuations," he added.

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