The UAE Cabinet, chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, convened at Qasr Al Watan in Abu Dhabi, approving a series of strategic initiatives, including the National Investment Strategy 2031, social support policies, and key international agreements.

The meeting was attended by senior UAE leaders, including Sheikh Mansour bin Zayed Al Nahyan, UAE Vice President, Deputy Prime Minister, and Chairman of the Presidential Court and Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Deputy Prime Minister, and Minister of Defence for the UAE and Crown Prince of Dubai.

Sheikh Mohammed announced that the UAE aims to double its annual foreign direct investment (FDI) inflows from Dhs112bn in 2023 to Dhs240bn by 2031, increasing total foreign investment stock from Dhs800bn to Dhs2.2tn.

National Investment Strategy to focus on key sectors
The strategy will focus on key sectors such as industry, logistics, financial services, renewable energy, and information technology.

“The UAE continues to develop its economy, expand global markets, attract investments, and create the most business-friendly environment in the world,” Sheikh Mohammed said, as quoted by state news agency WAM.

The strategy includes 12 new programmes and 30 initiatives, including the Financial Sector Development Programme, One-Market Programme, Institutional Innovation Attraction Programme, and the ‘InvestUAE’ initiative.

The goal is to raise FDI’s share of total investments to over 30 per cent and its contribution to GDP to 8 per cent.

Strengthening international partnerships

The cabinet reviewed the UAE’s strategic partnerships with African nations, with Sheikh Mohammed highlighting that 95 per cent of approved initiatives have been successfully implemented. The UAE’s total trade volume with Sub-Saharan Africa has grown from Dhs126.7bn in 2019 to Dhs235bn over five years — an 87 per cent increase.

“The UAE will continue to build new economic bridges across the world and reinforce its role as a global trade hub,” he added.

The cabinet also approved 28 international agreements, including comprehensive economic partnership agreements (CEPAs) with Malaysia, New Zealand, and Kenya.

Advancing the digital economy and sustainability
Sheikh Mohammed reiterated the UAE’s commitment to its National Digital Economy Strategy, aiming to increase the digital economy’s contribution to GDP from 9.7 to 19.4 per cent over the next six years.

The cabinet also approved the launch of the National Green Certificates Programme for buildings, a voluntary classification system assessing sustainability standards in commercial, industrial, and residential developments.

Healthcare and social development initiatives

In healthcare, the cabinet endorsed a National Policy for Combating Health Risks, aimed at enhancing emergency preparedness, response scenarios, and recovery plans. The Executive Regulations for Organ and Human Tissue Donation and Transplantation were also approved, ensuring better access to life-saving treatments.

The UAE now has 13 licensed transplant centres, with a 30 per cent increase in transplant procedures covering kidney, liver, heart, lung, and pancreas transplants.

On the social front, the cabinet approved reforms to the national social support system, increasing the budget by 29 per cent to Dhs3.5bn and expanding the number of beneficiaries by 37 per cent.

Additionally, 3,200 individuals have transitioned from financial aid recipients to active workforce contributors.

The cabinet also approved regulations governing social support disbursement for unemployed individuals, as well as an Inflation Allowance for eligible categories, including beneficiaries of social assistance programs.

Research, development, and workforce initiatives

The cabinet approved the restructuring of the Emirates Research and Development Council, chaired by Sheikh Abdullah bin Zayed, to set national research priorities, develop policies, and enhance collaboration between the government, private sector and academia.

Additionally, the UAE approved a Remote Work System from Outside the Country for federal government employees, enabling the recruitment of global talent for specialised projects and studies.