‘UAE economy on right track’; Mohammed floats projects

DUBAI: His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, today said the vision, proactive strategy and commited efforts of the UAE’S federal and local teams have enabled the UAE economy to be progressive, resilient and stable and maintain a high level of preparedness to deal with any kind of crises and challenges.

Sheikh Mohammed launched several initiatives of the Ministry of Economy that together represent a new development roadmap for the UAE and an innovative growth-oriented economic model in line with the vision for the UAE’S future. Sheikh Mohammed was briefed on the progress of the economic initiatives that were approved during the last ministerial retreat held to develop a comprehensive strategy for the next 50 years; and the Ministry of Economy’s efforts to develop a new economic development agenda for the UAE and enhance its readiness to resolve challenges and take advantage of opportunities in the upcoming phase.

The UAE constantly refines its economic model and strategic approaches to ensure it is able to leverage new opportunities brought by the evolving regional and global environment, he said.

“In the UAE, we constantly work on enhancing our economic model in innovative ways to achieve our key objectives of atracting the brightest talent from across the world, promoting advanced technology, and creating a truly knowledge-based economy,” Sheikh Mohammed noted.

“Today, we launched a number of economic initiatives - an accelerator for family-owned businesses that supports them in accessing new markets; an economic research institute established in collaboration with leading universities (UAE Growth Lab); and a global investment conference (Investopia) to be held in March 2022 that will discuss strategies to leverage the opportunities created by the new economy,” Sheikh Mohammed said.

“We have also launched an entrepreneurial academy (Skill-up Academy) and a new plaform to support the growth of startups (Scale-up Plaform), in addition to a web portal ( Grow in UAE) to provide comprehensive information about policies and investment opportunities in the UAE. Furthermore, we have launched a new national agenda to atract talent to the UAE,” Sheikh Mohammed added.

“We are continuing our relentless efforts to add new value to the economy and enhance its growth momentum. We conducted a broad restructuring of the government last summer so that all ministries, internal and external entities and legislative entities can focus on a common objective — the economic growth of the UAE in the next 50 years,” Sheikh Mohammed said.