Thousands of jobs will soon be announced in the UAE. According to a survey report, business conditions in the UAE have improved. And the process of firing people has also stopped.
Corona epidemic has severely affected the business and trade conditions in the United Arab Emirates for almost a year. Leaving millions of unemployed and millions with reduced wages. Thousands of Pakistanis have also been affected by this economic crisis. However, the month of February has seen an improvement in the UAE market.
Condition of Emirati businesses is improving
The monthly Purchasing Managers’ Index (PMI), states that the month of February is in terms of business conditions has proven to be the best. Now the situation of Emirati businesses and firms is improving.
According to this monthly survey, sales volume has increased in the month of February. And the process of dismissal of employees during the last six months has also come to a halt.
This UAE PMI index reflects the performance and business trends of the private sector. According to the report of the index, after the new SOPs related to Coronavirus and the ongoing vaccination campaign. there is a strong hope that the business situation will improve rapidly. Importantly, the Dubai Expo is also taking place in October 2021. before which more new businesses and jobs will be created. Leading the economy and the market to a rapid recovery.
Corona SOPs impact on the UAE economy
David Owen, an economist at HS Markets, said the tightening of Corona SOPs could have a small negative impact on the UAE economy. However, the UAE vaccine program has saved more than 60 per cent of the country’s population from being vaccinated. Therefore, these restrictions will be lifted soon in the future. Over the past 12 months, 94% of the business sector and businesses have suffered losses due to the Corona epidemic. although 6% of the business sector has not been affected.