Projects for the next 50 will help Emiratis ‘unleash their potential’
‘The projects are aimed at grooming a new generation of business leaders capable of spearheading the country’s business sectors,’ said Sheikh Mansour Bin Zayed
Sheikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, has underlined the central importance of the Projects of the 50 in driving the domestic economy by enabling the UAE citizens to unleash their potential and gain a befiting foothold in the labour market in line with the vision of the President His Highness Sheikh Khalifa Bin Zayed Al Nahyan, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
Sheikh Mansour made the remarks while chairing on Tuesday a board meeting of the Central Bank of the United Arab Emirates (CBUAE) where he emphasised the impacful role on driving economic growth of the recent decisions taken to accelerate atracting the UAE citizens to the private sector.
He in this regard highlighted the 10 principles for the next 50 years, directing the CBUAE to expedite embracing them at the financial services sector.
“These projects are aimed at grooming a new generation of business leaders capable of spearheading the country’s business sectors and plaforms through an investment friendly environment conducive to boosting competitiveness and productivity,” Sheikh Mansour said.
The meeting was atended by Vice Chairmen, Abdulrahman Saleh Al Saleh and Jassem Mohammad Buatabah Al Zaabi, CBUAE Governor Khaled Mohamed Balama Al Tameemi, and board members Younis Haji Al Khouri, Sami Dhaen Al Qamzi, and Dr. Ali Mohammed Bakhit Almadawi Al Rumaithi.
The board meeting reviewed a report on following the execution of decisions and directives taken during the previous board meeting.
The measures taken against violating financial establishments that violated CBUAE’S instructions and systems have been discussed and approved during the meeting.
These measures include financial fines of up to Dhs17,311,000.00 against the violators.
The Board also revoked the licence of ‘Arabian Exchange’ for violating rules.
The meeting occasioned a review of administrative and operating items on the meeting agenda and relevant decisions were taken.
Wrapping up the meeting, Sheikh Mansour directed the Senior and Executive Management teams and the CBUAE officials to accelerate efforts aimed at ensuring financial stability and resilience and continue the success achieved in containing the fallout of the COVID-19.
Meanwhile, Nasser Bin Thani Al Hamli, Minister for Human Resources and Emiratisation, has commended the forward-thinking vision adopted by the UAE leaders to get more Emiratis aboard the private sector as part of the Projects of the 50, a series of groundbreaking plans to drive the UAE’S economic growth.
The minister thanked President His Highness Sheikh Khalifa Bin Zayed Al Nahyan, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, for their unlimited support for Emirati citizens as manifested through the second set of the Projects of the 50.
He expressed confidence that the projects will achieve the desired final outcome under the follow-up and directives of Sheikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, the Chairman of the Emirati Talent Competitiveness Council, and Sheikh Abdullah Bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, Vice Chairman of the Emirati Talent Competitiveness Council.
“The second set of the Projects of the 50 represents an integrated methodology premised to accelerate investing in Emirati human capital and boosting their competitiveness,” the minister said, citing the disruptive employment, entrepreneurship and training programmes the second set of the Projects of the 50 features coupled with family support schemes for Emiratis working at the private sector.