His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, has chaired the UAE Cupboard assembly held at Qasr Al Watan in Abu Dhabi.
The assembly was attended by His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Courtroom; H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, and Minister of Defence; H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance; and H.H. Lt. Common Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister, and Minister of the Inside.
H.H. Sheikh Mohammed bin Rashid Al Maktoum stated: “At present, I chaired a UAE Cupboard assembly at Qasr Al Watan in Abu Dhabi, we accepted our Nationwide Funding Technique for the subsequent six years. Our purpose is to extend annual international funding inflows from AED112 billion in 2023 to AED240 billion by 2031 and develop the UAE’s whole international funding inventory from AED800 billion to AED2.2 trillion over the approaching years. This technique will give attention to key sectors, together with business, logistics, monetary companies, renewable vitality, and knowledge know-how. The UAE continues to develop its financial system, increase international markets, appeal to investments, and create probably the most business-friendly setting on this planet.”
H.H. Sheikh Mohammed added: “We additionally reviewed the progress of the UAE’s strategic partnerships with African nations, the place 95% of beforehand accepted initiatives have been efficiently applied. Consequently, our whole commerce quantity with Sub-Saharan Africa has grown from AED126.7 billion in 2019 to AED235 billion over 5 years—an 87% enhance. The UAE will proceed to construct new financial bridges internationally and reinforce its function as a world commerce hub, connecting markets worldwide.”
H.H. Sheikh Mohammed acknowledged: “We additionally reviewed the Nationwide Digital Financial system Technique, which goals to extend the digital financial system’s contribution to GDP from 9.7% to 19.4%. We stay dedicated to strengthening the UAE’s place within the international digital financial system by bold nationwide initiatives and tasks over the subsequent six years.”
H.H. Sheikh Mohammed added: “In healthcare, the Cupboard accepted a brand new Nationwide Coverage for Combating Well being Dangers, designed to ascertain nationwide response eventualities, improve preparedness, and develop restoration and management plans for well being crises and emergencies. Steady readiness for any well being emergency is a necessary a part of strengthening well being safety and guaranteeing the very best high quality of life within the UAE.”
H.H. Sheikh Mohammed introduced: “We additionally accepted the Govt Laws for Organ and Human Tissue Donation and Transplantation, guaranteeing higher entry to life-saving therapies for people affected by situations that may solely be addressed by organ transplants. The UAE now has greater than 13 licensed transplant facilities, with a 30% enhance in transplant procedures. Kidney, liver, coronary heart, lung, and pancreas transplants are actually being carried out within the UAE, and we are going to proceed to develop the healthcare sector to offer world-class medical companies for all.”
H.H. Sheikh Mohammed declared: “We additionally accepted the restructuring of Emirates Analysis and Improvement Council, chaired by Sheikh Abdullah bin Zayed, to outline nationwide analysis priorities, develop insurance policies and programmes, and improve collaboration between authorities entities, the personal sector, and academia. The UAE stays dedicated to increasing its management in analysis and growth.”
H.H. Sheikh Mohammed added: “In social affairs, we accepted a collection of recent selections aimed toward enhancing the social assist and empowerment system. These selections set clear eligibility standards and set up complete laws for each fundamental and supplementary allowances, guaranteeing a extra structured and efficient assist framework. The annual funds for social assist programmes has elevated by 29%, reaching practically AED3.5 billion, whereas the variety of beneficiaries has risen by 37%—increasing assist to a wider section of society. Moreover, 3,200 beneficiaries have been efficiently built-in into the workforce, reworking from recipients of economic support into energetic contributors to the nation’s progress.”
H.H. Sheikh Mohammed stated: “Within the authorities affairs, we additionally accepted the Distant Work System from Outdoors the Nation within the Federal Authorities, enabling the UAE to faucet into international experience and specialised expertise to execute tasks and research for federal entities.”
H.H. Sheikh Mohammed stated: “The Cupboard additionally accepted 28 worldwide agreements, together with financial partnership agreements with Malaysia, New Zealand, and Kenya, in addition to safety, logistics, and authorities cooperation agreements with a number of nations. The groups proceed their work, our development trajectory accelerates, and daily, we witness our nation’s future changing into higher, stronger, and extra affluent—pushed by the dedication of hundreds of remarkable groups throughout all sectors.”
The UAE Cupboard accepted the Nationwide Funding Technique 2031, which focuses on reworking the UAE into a number one international strategic funding hub, strengthening its place as a key centre for attracting international direct funding and supporting nationwide financial development, because it included the identification of a very powerful 5 precedence sectors primarily based on the contribution of recent international direct funding inflows: business, monetary companies, transport and logistics, renewable vitality and water, telecommunications and knowledge know-how.
The technique contains 12 new programmes inside the strategic instructions, along with 30 initiatives below these programmes, most notably: the Monetary Sector Improvement Programme, the One-Market Programme, the Institutional Innovation Attraction Programme, the Associate International locations Gateway Programme, “InvestUAE,” the Funding Workplaces and Promotion Incubator.
Whereas present funding outcomes point out that whole cumulative international direct funding is AED0.8 trillion and annual international direct funding inflows are AED112 billion. The goal by 2031, in accordance with the technique, is to extend international direct funding inventory to AED2.2 trillion, elevate annual international direct funding inflows to AED 240 billion, enhance the share of international direct funding in whole investments (home and international) to above 30%, and attain the contribution of international direct funding to GDP to eight%.
In financial affairs, the Cupboard reviewed through the assembly the progress of the UAE’s strategic partnerships with African nations, the place 95% of beforehand accepted initiatives have been efficiently applied. Apart from, the entire commerce quantity with Sub-Saharan Africa has grown from AED127 billion in 2019 to AED235 billion over 5 years, attaining and enhance of 87%.
The Cupboard additionally accepted the launch of the Nationwide Inexperienced Certificates Programme for buildings. It’s a classification system, non-compulsory in its first stage of implementation, aimed toward assessing and certifying sustainable buildings in accordance with the very best environmental requirements, concentrating on industrial buildings, resorts and hospitality amenities, industrial institutions, authorities buildings, and homes, communities and compounds.
The Cupboard additionally assessed the outcomes of the implementation of the Industrial Know-how Transformation Programme, which included the launch of the Industrial Know-how Transformation Index (ITTI), the first-of-its-kind indicator for measuring technological development and sustainability practices in factories. It additionally reviewed the progress of the Nationwide Digital Financial system Technique 2031, launched to double the digital financial system’s contribution to GDP from 9.7% to 19.4%.
The Cupboard additionally accepted the Nationwide Coverage for Combating Well being Dangers within the UAE, which goals to boost the healthcare sector readiness within the UAE, present the perfect response in instances of emergency, and to make sure well being safety by addressing well being dangers and their affect on public well being.
The Cupboard additionally accepted a choice to restructure the Emirates Analysis and Improvement Council below the chairmanship of Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Overseas Affairs. Mandates of the Council embrace defining the R&D priorities throughout the nation, launching, approving, and overseeing analysis and growth initiatives funded by the federal authorities, reviewing research, tasks, and proposals associated to analysis and growth to evaluate and evaluation detailed information to make sure alignment with nationwide targets, and submit studies about them to the Cupboard
The Cupboard accepted a choice to ascertain the Pharmaceutical Insurance policies Committee, chaired by Dr. Thani bin Ahmed Al Zeyoudi, the Chairman of the Emirates Drug Institution, with members representing a number of entities and group from the well being sector. The Cupboard additionally accepted a choice to restructure the Postal Sector Regulatory Committee below the chairmanship of Sultan bin Saeed Al Mansouri.
The Cupboard, throughout its assembly, accepted a choice to concern a Federal Regulation on the Safety of New Plant Varieties, a choice to concern the Govt Laws of the Federal Decree-Regulation on Combating Business Fraud, the Govt Laws of the Federal Regulation on the Observe of Sure Healthcare Professions by Non-Physicians and Pharmacists, the Govt Laws of the Federal Regulation on Psychological Well being, amongst others.
The Cupboard accepted the issuance of the Govt Laws of the Federal Decree-Regulation on Social Assist and Empowerment. In the identical context, the Cupboard accepted laws governing social assist disbursement for unemployed people. Moreover, the Cupboard accepted a choice on the Inflation Allowance, defining the eligible classes, which embrace beneficiaries of the Social Assist and Empowerment Programme, recipients of native social help programmes, and different qualifying teams as stipulated within the choice.
The Cupboard additionally accepted the Distant Work System from Outdoors the Nation within the Federal Authorities, designed to leverage international expertise and experience exterior the UAE to execute specialised job duties, full tasks, and conduct research related to authorities operations.
In worldwide affairs, the Cupboard accepted the ratification of three complete financial partnership agreements between the State and the governments of Malaysia, New Zealand, and Kenya, amongst different worldwide agreements and MoUs.
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