The UAE established the establishment of a National Fund of AED36.7bn ($ 10bn), in a Cabinet meeting attended by Sheikh Mohammed Bin Rashid Al Maktoum, the deputy manager, the prime minister of Dubai, held at the Dubai Airshow.
The session reviewed the broad economic, industrial, aviation and social achievements of the 2024 strategy and developed several national strategies including ownership, family reunification, food security and environmental protection.
Sheikh Mohammed Bin Rashid Al Maktoum said: “I chaired today’s Cabinet meeting at the Dubai Airshow. The UAE continues to support the global platform, which strengthens our position as a Key Inspector in the World Aviation Sector.”
$10bn in national income paid to the UAE
Sheikh Mohammed Bin Rashid added: “As part of the cabinet’s agenda, we have approved the establishment of a national fund with an initial capital of AED36.7bn, open to future revisions and future increases.
“The fund aims to encourage future direct investment through financial incentive packages and to achieve our target of increasing it from AED200bn ($55.3bn) to AED2.2TN ($599.1bn).”
“Our message to global investors is clear. The UAE is welcoming, the UAE will provide an excellent place to invest.”
The Cabinet confirmed that the fund will provide development packages targeting high-impact companies and will be implemented through high-level Federal funding and cooperation with economic, investment and tourism managers across the Emirates.
Industrial Sector Results
Sheikh Mohammed Bin Rashid said: “We have reviewed the progress of the national industrial goal. Industrial spending has exceeded AED1110BN ($ 53.7bn). Today, the industrial sector contributes. GDP. Our target is AED300BN ($ 81.7BN) in 2031.”
He added: “The Cabinet has passed the UAE ID scheme
The Cabinet also approved the national family growth agenda by 2031, aimed at higher marriage and birth rates among UAE nationals and improved quality of family life. The agenda includes three tracks: policies and programs, behavioral interventions and reproductive health.
GCC economic cooperation and trade review
Sheikh Mohammed Bin Rashid said: “We have also seen progress in implementing GCC economic integration initiatives
“The UAE is home to the largest number of foreign property owners in the GCC, exceeding 52,000 people. Trade between the UAE and GCC countries reached ad333bn ($90.6bn).”
UAE Cement Aviation
The Cabinet reviewed the achievements of the 2024 Avil Avictions:
- AED340bn contributed to GDP, representing 18.2 percent of the total
- 148m passengers, 10 percent from 2023
- In addition to the performance of air traffic, up 11 percent
- 190 air travel agreements have been signed around the world
The UAE is ranked first in the world for the quality of air infrastructure (Wef 2023), Second in the world for achieving aviation safety and fifth in the world for the quality of air travel.
New Citizenship Policies Approved
Cabinet approved:
- The National Policy for the Segregation of Natural Resources
- Development of federal legislation on genetic regulations for food and agricultural crops
- Decisions relating to services provided by the Ministry of Energy and Infrastructure and the Ministry of Foreign Trade
- Measures to improve the tax efficiency and effectiveness of Digital Trade Nex
Food safety and reactivity review
The Cabinet reviewed the 2024 achievements of the UAE Security Council, including:
- Establishing a National Food Cluster
- Introducing basic indicators of food loss and contamination
- Using a food preservation program
- Community efforts to achieve zero food waste and cut waste and pollution by 50 percent by 2030
The development agenda of the National Refet Development Developred recorded AED717.8bn ($ 1955.7bn) in export activity, with resale increasing 5 percent to AED719BN and including 24,5 percent of trade of 24 percent.
International Conventions
Cabinet approved the ratification of the agreements by:
- Sri Lanka (Financial Protection)
- Trinidad and Tobago (VISA Exemption)
- Antigua and Barbuda (Visa Waiver)
- GCC General Agreement Electronic Communications Agreement
- Hosting the Headquarters of the Arab Security Authority
The Cabinet was also re-approved by the State Motor Vehicle Council under the Ministry of Interior.
