Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said that UAE’s federal and local teams’ vision, proactive strategy, and dedicated efforts boosted the UAE economy to be progressive, resilient, and stable, with a high level of preparedness to deal with any crises or challenges.
“We always work to improve our economic model in unique ways in the UAE to meet our core objectives of attracting the best talent from around the world, fostering advanced technologies, and developing a truly knowledge-based economy,” Sheikh Mohammed remarked.
The ministry launched a number of economic initiatives, including a family-owned business accelerator that will assist them in entering new markets, and economic research institute established in collaboration with leading universities like UAE University, Zayed University, American University of Sharjah and New York University Abu Dhabi, and a global investment conference (Investopia) set to take place in March 2022 to discuss strategies for capitalizing on the new economy’s opportunities.
It has also launched an entrepreneurial academy (Skill-Up Academy) and a new platform to support the growth of startups (Scale-Up Platform), in addition to a web portal (Grow in UAE) to provide comprehensive information about policies and investment opportunities in the UAE.
Sheikh Mohammed briefed on the progress of the economic initiatives approved during the last ministerial retreat to develop a comprehensive strategy for the next 50 years, as well as the Ministry of Economy’s efforts to develop a new economic development agenda for the UAE and improve its readiness to resolve challenges and seize opportunities in the coming phase.
Recently, Sheikh Mohammed had announced the UAE will enter 25 new international markets for foreign trade. The goal is to boost exports by 50 percent in the next few years.