What To Know
- Sheikh Mohammed bin Rashid Al Maktoum led the UAE Cabinet at Qasr Al Watan in Abu Dhabi where authorities announced their plan to enhance annual FDI inflows by AED 240 billion ($65.
- The Cabinet evaluated the UAE’s development of strategic alliances with African countries while trade value between UAE and Sub-Saharan Africa surged by 87% during five years up to reach AED 235 billion ($64 billion) in 2024 from AED 126.
- The Cabinet made a major decision by creating the Remote Work System allowing UAE federal workers to perform their duties from outside the country for accessing specialist talent on projects.
A revolutionary National Investment Strategy introduced by the UAE aims to increase foreign direct investment by an estimated 100 percent during 2031. Sheikh Mohammed bin Rashid Al Maktoum led the UAE Cabinet at Qasr Al Watan in Abu Dhabi where authorities announced their plan to enhance annual FDI inflows by AED 240 billion ($65.4 billion) until 2031 starting from AED 112 billion ($30.5 billion) in 2023. The strategy targets a two-fold expansion of FDI stock worth AED 800 billion ($218 billion) to reach AED 2.2 trillion ($600 billion).
The UAE seeks to expand its industry sector while also focusing on logistics, financial services, renewable energy and information technology. Through this method the UAE seeks to develop itself as a worldwide hub for strategic investment that will support both business creation and innovation development. The UAE functions as a welcoming business environment according to Sheikh Mohammed to secure long-term economic stability through global investment adoption.
The Cabinet evaluated the UAE’s development of strategic alliances with African countries while trade value between UAE and Sub-Saharan Africa surged by 87% during five years up to reach AED 235 billion ($64 billion) in 2024 from AED 126.7 billion ($34.5 billion) in 2019.
The Cabinet endorsed the National Digital Economy Strategy to lift digital economy GDP contribution from 9.7% to 19.4% by 2031. The government implemented two key initiatives through the new National Policy for Combating Health Risks and laws governing organ and human tissue donation and transplantation.
The Cabinet made a major decision by creating the Remote Work System allowing UAE federal workers to perform their duties from outside the country for accessing specialist talent on projects. The Cabinet finalized 28 international agreements among which Malaysia, New Zealand, and Kenya signed economic agreements.
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