UAE READY TO HOST WORLD AT EXPO
Cabinet adopts Strategy for Talent Attraction and Retention
The UAE is ready to host the world at Expo 2020 Dubai with 170 days left for the event, His Highness Shaikh Mohammad Bin Rashid Al Maktoum, VicePresident and Prime Minister of the UAE and Ruler of Dubai, said yesterday.
“After 10 years of hard work, 230,000 workers, Expo 2020 will kick off after 170 days, and we are ready to welcome the world at Expo 2020 Dubai,” Shaikh Mohammad said.
“The success of the Expo after the Covid pandemic will be a success for the world and optimism for the global economic recovery,” Shaikh Mohammad said as he chaired a Cabinet meeting at Al Qasr Al Watan in Abu Dhabi.
The cabinet approved a national strategy to attract and retain talent and ensure readiness to host Expo 2020 Dubai, which will take place in October, with the participation of 190 countries.
Connecting Minds, Creating the Future
The meeting heard a briefing from Reem Al Hashemi, Minister of State for International Cooperation and Director-General of Expo 2020 Dubai, about the preparations and readiness of all teams and the participation of federal entities in the event that is held under the theme ‘Connecting Minds, Creating the Future’.
The cabinet adopted the UAE Strategy for Talent Attraction and Retention, a move that contributes to strengthening the UAE’s leading position as a preferred destination for living, working and investing.
Filing taxes for businesses made easier
The cabinet also approved changes to taxation and bankruptcy laws, making it easier for businesses to file taxes.
Creditors can pursue insolvency in court if the amount owed is at least Dh1 million. A debtor must owe at least Dh250,000 to be obligated to apply to open insolvency proceedings.
The deadline for reporting taxes will be extended from 10 to 40 working days. The deadline for the Federal Tax Authority to issue a decision to reduce or exempt administrative fines is amended from 20 to 40 days from the date of receiving the order.
Shaikh Mohammad said that legislation in the UAE will remain flexible to adapt to any circumstances.
New policy to boost Emirati exports
The cabinet also adopted a new policy to boost UAE exports. The country aims to increase nationally produced goods and services to reach 50 per cent of non-oil foreign trade. The cabinet heard that agreements will be signed with strategic markets around the world to support exports.
The UAE Cabinet chaired by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, held in Abu Dhabi yesterday adopted the UAE Strategy for Talent Attraction and Retention, a move that contributes to strengthening the UAE leading position as a preferred destination for living, working and investing.
Shaikh Mohammad said the strategy aims to place the UAE among the top three countries in talent attraction and availability of highly skilled employees. The UAE cabinet meeting was held in the presence of Lt. General Shaikh Saif Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, and Shaikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.
‘Connecting Minds, Creating the Future’
Reem Bint Ebrahim Al Hashemy, Minister of State for International Cooperation and Director-General of Expo 2020 Dubai, briefed the Cabinet about the latest preparations and readiness of all teams and the participation of the federal government entities in the event that is held under the theme ‘Connecting Minds, Creating the Future’.
Ministries and federal government entities will participate in a wide range of topics including: climate and biodiversity, tolerance and inclusion, travel and communication, food and agriculture, space, water, urban and rural development, knowledge and learning, and health, in addition to other topics that fall under the Expo 2020 programme (Humans and Planet Earth), which has been approved by the cabinet.
Integrated national initiative
Talented residents have been always a crucial part of the UAE journey and achievements, stressing that attracting more talents and creative minds is a key factor of the UAE’s preparation for the future.
The UAE strategy is an integrated national initiative that aims to enhance the country’s attractiveness to foreign investments and talents. It serves as a comprehensive framework that allows the country to develop policies to attract talents from all over the world.
Three main targets
The UAE strategy for talent attraction and retention has three main targets: positioning the UAE among the top ten countries in the global talent competitiveness indices, ensuring talents availability across all strategic sectors and to cementing the UAE image as an ideal destination for living and working.
The cabinet also approved the export development policy that sought to increase UAE exports and open new international markets with the aim of supporting the country’s foreign trade and increasing the non-oil sectors participation in the GDP.
The policy is a long-term vision for the UAE’s foreign trade, it enables the national economy to benefit from opportunities of the economic recovery expected in the current and future stages.
The cabinet adopted the National Autism Policy that aims at improving the health and well-being of people with Autism Spectrum Disorder (ASD) and to supporting caregivers. The policy also focuses on upgrading the skills of personal working in ASD centres and raising the efficiency of the services offered.
It also ensures that all autistic have full and equal access to the resources they require to achieve their full potential.
Tax laws
On the legislative affairs, the cabinet amended the Executive Regulation of Federal Law on Tax Procedures. The amendment extends the tax notification from 10 to 40 working days. The amendment also covers the time limit for issuing the decision of the Federal Tax Authority to reduce or exempt administrative penalties from 20 to 40 working days from the date of receiving the application.
The cabinet approved the issuance of a decision regarding the requirements of the Natural Person Insolvency Law. The law aims at enhancing the competitiveness of the UAE by ensuring the ease of doing business and creating favourable conditions for individuals facing financial difficulties.
The cabinet also approved a decision regarding the exception of the Federal Law concerning Public Associations and Institutions of Public Benefit.