The UAE has once again proven its economic resilience by creating hundreds of thousands of jobs last year when the global economy was shrinking and international trade was on the decline.
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Saturday disclosed that the emirate created nearly 248,000 jobs last year when millions of people were rendered jobless or unemployed due to the global economic slowdown because of the coronavirus pandemic.
“The world economy shrank 4 per cent, international trade dropped 20 per cent, and the world lost millions of jobs in 2020,” Sheikh Mohammed tweeted.
“In the same year, the UAE economy created 100,000 jobs in retail sector and e-commerce and 148,000 jobs in the financial, technology and telecommunications sector. We repeat: Crisis management creates opportunities and management crises destroy gains.”
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