Whilst the Covid-19 situation appears to be doom and gloom, one should always have hope that there is light at the end of the tunnel. All it takes is for a cure or approved treatment to come out. Businesses should get very tight control on their costs and remain above water for the time being. The economic effects of the crisis will take a longer time to kick in and governments need to have a more patient outlook in terms of recovery. — Saeed Al Darmaki, chairman of eGovern.
Challenging times, but as the cliché goes, this too shall pass. Covid-19 has impacted nearly every facet of life and to make it through the pandemic, we have to have hope. Look at the way the UAE leadership has risen to the occasion with numerous proactive measures which have ensured calmness and stability in this great nation. Just hold on. We as a nation have to rise and we will do so sooner rather than later. Rather than looking at the current situation in a negative manner, I would rather use this time to plan for the future and look for ways to make business processes more robust and resilient so that we can hit the ground running when stability returns. — Yusuffali MA, Chairman, Lulu Group
With today’s global pandemic, businesses have been facing difficult times with some of them often distraught and forced to make tough decisions in their operations. However, in the UAE many companies can take advantage of the digital infrastructure and initiatives that support both residents and companies to mitigate any negative impact. Many can also benefit from the hand extended by certain partners in the market to find practical and costless solutions to carry on with their business. We need to come together, corporations and residents, to continue supporting the community as a whole. We have seen a strong spirit of solidarity in the market, a spirit that is deeply rooted in our culture. — Rashed A. Al Ansari, Chief Executive Officer, Al Ansari Exchange
The Covid-19 crisis has produced unprecedented challenges in the life of people, professionals and businesses. It has taught us that our fates are deeply intertwined. There are many lessons that we learned. One of the most important ones is to go digital as much as possible. We have launched Tele Health and manage many of our back-office functions digitally. We also have realised the importance of having robust supply chain of materials. There is also the reality that sustainability and business continuity requires sacrifice from everyone as cash flow shall become a major challenge. The visionary leadership and the support by the authorities for businesses is one of the most satisfying realizations during the crisis. — Dr Azad Moopen, Founder Chairman & Managing Director, Aster DM Healthcare
Businesses that invest in strategic, operational and financial resilience to emerging global risks will be better positioned to respond and recover. Currently global economy is suffering. People are not at work because they are sick or quarantined. In such a situation, demand stimulus will merely boost inflation, potentially leading to recession. Hence, I am sure impact will be there across each sector of our business as well but our operations are still generating partial revenue, if not full, on account of circular issued by government, allowing the logistical operations of building materials businesses to take place and, by extension, our construction sector. I just pray that this pandemic is eradicated soon, till then, stay safe. — Rizwan Sajan, Founder and Chairman of Danube Group
The world is in the midst of an economic disruption and stagnation, caused by the Covid-19 pandemic. In this hour of test, businesses have a responsibility to come together to support the economy, each other and their workforces. As a start-up, Facilio is accustomed to meeting challenges proactively and we see this attitude reflected in the response of entrepreneurs and enterprises to this disruptive moment. We believe in the resilience of our institutions and industries, within the UAE and globally, and that together we will emerge from this crisis stronger than we have ever been. — Nivedha Sridhar, Director of Content and Growth Strategy, Facilio Inc.
As the world undergoes economic turmoil in the wake of the Covid-19 pandemic, marginalized sections of the global population, who have limited access to financial services and face challenging circumstances at the best of times, are particularly vulnerable. As businesses and individuals who are blessed with the means to, it is our duty to look out for those less fortunate. We believe the disruption can be short lived and the damage be kept to a minimum, if we all come together to support the needy during this crisis, and in the rebuilding efforts that will follow. — Mahmood Ahmadu, Chairman of Online Integrated Solutions.
In these uncertain times, strength and hope are our only lifelines. The strength to be able to overcome this economic instability and a hope that the UAE economy will rebound stronger than ever. We pray for the frontliners and thank them for their services. — Kamal Vachani, group director of Almaya Group
We are moving through a hard time and we all should stand together, work together for the future. Business owners should take this opportunity as a lesson-learned session, fix your strategies and boost your business to the next success. — Sultan Ali Rashed Lootah, chairman, managing director and co-founder of Relam Investment
The crisis that the whole world is currently passing through can only be overcome by hope and faith. It’s not just some industries or some countries, but the entire global economy is at stake. This will have an everlasting impact on the way we did business or lived our personal life. E-commerce, digital banking, e-finance, remote working and distance learning will see higher adoption. A contactless world will create pressure on certain industries and opportunities for others. We may see a more de-globalised world but strongly connected virtual community can balance that out. More investments in healthcare and research is required so that the world can be protected from any such future pandemics. — Arshad Khan, co-founder of Arabian Bourse
This is a great opportunity for business leaders to focus on how the business community can play a vital role in building a more resilient economic system. This is the time for introspection and building stronger relationships with employees, business associates, customers, and supply chains that will help us to move forward with full vigor when the situation becomes normal. This is the time to understand and be ready to face the future in a confident manner. It is true that organisations will make changes when the economy improves. I feel the changes will be for better utilisation of resources, better business practices and better systems. — Dhananjay Datar, Chairman and MD, Al Adil Group of supermarkets
Though the pandemic has pulled down the globe dreadfully, the stringent actions taken to test masses and the lockdowns across regions have shown marked results. Businesses are striving to sail through without drastic measures of laying-off people and instead resorting to lean staffing during these tough times. Communities and authorities have stood together and shown remarkable cooperation in fighting this pandemic. There is also hope that with time science will overcome this disease and find a solution to manage it at the onset. We are hopeful that we will be able to regain stability gradually over the next few months, taking one step at a time and planning judiciously for the future, once we see more recoveries, and the numbers of new infections dropping globally. — Taher Shams, Managing Director, Zulekha Healthcare Group
fam Properties was started in 2009, which was the peak of the global economy and the real estate crisis. I had an eye to see the accomplishments of Dubai, which has proved its long-term ability to overcome all kind of challenges. It takes hope accompanied by our consistent actions to overcome hurdles. Hope without actions means nothing. — Firas Al Msaddi, CEO of fam Properties
There is a silver lining to this pandemic: lower carbon levels in the atmosphere, sightings of wildlife in previously busy areas, and most of us get to spend more time with our loved ones. There’s no doubt that this is a very difficult and uncertain time for the region, but governmental entities and startups alike are not losing sight of the importance of banding together against Covid-19. I am not alone in being grateful for the work the government is putting to ensure the safety of its residents. Now is the time for every decision maker to roll up their sleeves and focus on building a digital tomorrow. — Walid Daniel Dib, co-founder of Addenda
It is clear by now that the Covid-19 pandemic has and will continue to impact our daily lives and the health of the global economy until a cure and a vaccine become available. We at MEVP are conducting business as usual and are more motivated than ever to support and grow the MENA technology ecosystem we have been a key member of for the past decade. Our belief is that this pandemic will be a catalyst to the digitisation of our society across all key technology sectors, and most tech ventures are well positioned to benefit from the new market dynamics and gain market share. After the storm comes the sunshine. — Walid Hanna, founder and CEO, Middle East Venture Partners
SOURCE – https://www.khaleejtimes.com/