UAE Unveils Economic Roadmap

His Highness Sheikh Mohammed bin Rashid noted that the current session of the annual meetings witnessed the launch of the “Economic Principles of UAE”; a roadmap steering the development of the country’s economy….reports Asian Lite News

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai affirmed that the UAE government adopts a proactive approach to meet the requirements of the development march.

His Highness Sheikh Mohammed bin Rashid Al Maktoum added: “A year ago, we launched ‘We the UAE 2031’… More than 152 federal government projects were completed during this year and we are continuing to build the best development model in the region and the world.”

His Highness noted that the current session of the annual meetings witnessed the launch of the “Economic Principles of UAE”; a roadmap steering the development of the country’s economy.

His Highness said: “This year we launched at the annual meetings the Economic Principles of UAE to be a comprehensive and integrated strategy to strengthen the performance of our economic sectors.”

The progress in achieving the UAE objectives for 2031

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, reviewed the progress achieved within the first year of “We the UAE 2031”.

The UAE objectives for 2031, within “We the UAE 2031”, aim to raise the annual gross domestic product (GDP) to AED3 trillion, and non-oil foreign trade to AED4 trillion. During 2022, the GDP reached Dh1.62 trillion, and the value of the country’s non-oil foreign trade increased to Dh2.2 trillion.

The UAE aims to increase the contribution of the digital economy to represent 20% of the non-oil GDP, and this contribution has been raised to reach 11.8% in 2021. It also aims to become one of the world’s top 10 countries in attracting foreign direct investment (FDI), and it has advanced in 2022 to be ranked 16th globally.

The UAE aims to be among the world’s top 10 countries in the international talent attraction and empowerment, eventually, it advanced in this field to the 22nd place globally.

In the tourism sector, the country aspires to attract 40 million tourists annually by the year 2031; In 2022, it managed to attract 25.1 million tourists. It also aspires to be among the world’s top 10 countries in the Human Development Index, and in 2022 it advanced to the rank 26th globally. In the sports and active lifestyle sector, the UAE aims to the reach a status where 75% of the population are adopting an active lifestyle at a rate of 150 minutes of physical activity weekly, of which 58% has been achieved by 2023.

Also, the country aspires to be ranked among the world’s top 20 countries in the Environmental Performance Index (EPI), it has reached rank 39 by 2022. In the energy sector, the UAE aims for clean energy production in the country to constitute 30% of the total energy, and by 2022 it has constituted 15.7%.

In relation with governmental performance and digital competitiveness, “We the UAE 2031” has drafted a set of ambitious plans and numbers for the year 2031. The UAE aspires to be ranked among the world’s top 5 countries in the Smart Government Index, and in 2022 it has advanced to 13th place globally.

The UAE aims for the first place globally in the Trust in Government Index, and remarkably, in 2023, it managed to reach the second place. The country aims to be among the world’s top 3 countries in the Logistics Performance Index, and is currently ranked seventh.

Specialized discussions in vital sectors

The UAE Government Annual Meetings 2023 witnessed several sessions and discussions in vital sectors, during which Ministers and senior government officials reviewed the plans, initiatives and projects that have a direct impact on the future of development in the UAE.

During a session entitled “Heroes in the field”, His Excellency Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs hosted 3 front-line public servants; discussing their thoughts, suggestions and challenges that may appear.

The UAE Government provides approximately 1,400 government services, all of which focus on providing sophisticated and effective services.

During the meetings, His Excellency Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, reviewed the latest updates and efforts regarding the COP28 preparations.

Her Excellency Ohood bint Khalfan Al Roumi, Minister of State for Government Development and The Future, discussed the mechanisms of promoting government digital integration in the UAE.

As part of the agenda, His Excellency Dr. Abdulrahman Al Awar, Minister of Human Resources and Emiratisation discussed a policy proposal to ensure the sustainability of Emiratisation, and new strategies and plans aiming to guarantee the continuity and sustainability of employment in the private sector.

Within a session on Artificial Intelligence, His Excellency Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, stressed the UAE’s keenness to explore new opportunities related to advanced technologies, artificial intelligence and big data in different government sectors.

During a session on the UAE Government’s commitments to carbon neutrality, Her Excellency Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment discussed the UAE’s strategy on climate change, which comes in line the UAE’s objectives to achieve climate neutrality.

His Excellency Dr. Anwar Gargash, Diplomatic Adviser to the UAE President said that the UAE leadership is keen to sustain the UAE’s growth, prosperity and stability. During his participation in the UAE Government Annual Meetings 2023, His Excellency reviewed the geopolitical scene and its impact on the regional and global levels.

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