His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, chaired the UAE Cabinet’s first meeting of the new governmental season at Qasr Al Watan.
The session focused on pivotal topics including education, economic progress, and international cooperation.
Sheikh Mohammed emphasized the successful commencement of the new academic year, with 1.1 million students returning to schools and universities nationwide. The Cabinet discussed directives from the UAE President aimed at ensuring a productive academic year that aligns with national aspirations.
The meeting also highlighted significant economic achievements, with the UAE witnessing a remarkable 152% growth in registered companies, from 405,000 in mid-2020 to over 1 million by mid-2024. This surge is attributed to the 30 economic laws and policies enacted since the onset of COVID-19, which have positioned the UAE as a top global economy.
Sheikh Mohammed also announced the UAE’s record AED112 billion in foreign direct investment (FDI) last year, making the nation the second globally in attracting new FDI projects. Additionally, the UAE’s non-oil GDP grew by 6.2% in 2023, further solidifying its place among the world's leading economies.
The Cabinet approved several strategic initiatives, including the National AML/CFT/CPF Strategy (2024-2027) to strengthen financial transparency and the restructuring of the Higher Commission for Free Trade Negotiations. The UAE's commitment to advancing climate action through its accession to the Nationally Determined Contributions Partnership was also affirmed.
In closing, Sheikh Mohammed announced the UAE Government Annual Meetings set for November 2024, focusing on family, national identity, and artificial intelligence. These discussions aim to unify government efforts and set a clear national agenda for 2025.
News Source: Emirates News Agency
