The UAE government announced today the launch of 50 national projects with economic dimensions, forming a new cycle of national strategic initiatives. These aim to establish a progressive phase of internal and external growth for the UAE, as declared by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, and His Highness Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, last week at the start of the new government season.
Today in Dubai, His Excellency Mohammed Abdullah Al Gergawi, Minister of Cabinet Affairs, His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, His Excellency Abdullah bin Touq Al Marri, Minister of Economy, His Excellency Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, Her Excellency Sarah Al Amiri, Minister of State for Advanced Technology, His Excellency Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, along with Saeed Al Eter, Chairman of the UAE Government Media Office, held the first press conference to announce the first bundle of projects.
During the announcement of the fifty projects, His Excellency Mohammed bin Abdullah Al Gergawi emphasized that the document of the 50 Principles outlines the country’s strategic path in economic, developmental, and social fields over the next 50 years, based on ten principles:
1. Prioritizing the strengthening of the union.
2. Focusing on building a better and more active economy in the world.
3. Designing foreign policy to serve the economy, with the economic aim of providing a better life for the people.
4. Developing education and attracting talent is crucial for maintaining UAE's superiority.
5. Establishing positive political relations with the region as a top priority for foreign policy.
6. The UAE is a promising economic, tourist, and industrial destination.
7. Digital and scientific excellence will define our developmental and economic boundaries.
8. The values system in the UAE will remain based on openness and tolerance.
9. Political differences with any country do not justify the neglect of assistance during disasters and emergencies.
10. Advocating for peace and dialogue to resolve disputes is fundamental.
His Excellency Dr. Sultan bin Ahmed Al Jaber and Her Excellency Sarah Al Amiri announced the Fifty Plan which includes:
- Launching the National Added Value Project aimed at raising the contribution of procurement expenses and contracts to the local economy to 55 billion dirhams by 2025, targeting 42% of regional and local purchases towards local products and supporting their potential and competitiveness in the local and regional market, along with targeting 7,300 accredited national distributors and 15 national companies as well as 45 federal entities.
- The second project allocates 5 billion dirhams to support Emirati projects in cooperation with the Emirates Development Bank.
- The third project allocates 5 billion dirhams in partnership with the Emirates Development Bank to support the uses of advanced technology in the country and the transition towards the Fourth Industrial Revolution.
His Excellency Dr. Thani bin Ahmed Al Zeyoudi announced the signing of 8 economic agreements in the upcoming phase to increase investment size and elevate economic relations, in addition to unprecedented updates that are the first of their kind globally, which will help maintain political and family stability in the UAE. He also announced the launch of a new residency system in the UAE that comprises a comprehensive residency pathway including regular, golden, and green residencies, where self-residency is tied to the employee.
