The UAE leadership today announced several grand projects. The UAE projects of the 50, the first 13 are announced for the development of the country’s economy.
This initiative would be the foundation of the development as the nation completes 50 years of integration.
In the event at Jumeirah Emirates Towers on Sunday accompanied by cabinet ministers and superior officials, the government initiated a list of postulates on which projects are founded.
The first 13 initiatives to be announced are:
- The emirates development bank has allotted Dh 5 billion for project 5Bn, which would encourage Emirati initiatives in preference regions, exciting industry and provides economic diversification.
- Green visa would make capable highly proficient professionals, entrepreneurs, investors, best students, and bachelors sponsor themselves.
- Freelancer visas, the first federal visa for self-employed operators, would be introduced as well.
- Dh5bn would be allocated in partnership with Emiratis Development Bank, for the tech drive, that would support advanced technology adoption in the industry for more than 5 years.
- The 10×10 program set targets to gain a 10% annual growth in the UAE exports to 10 global markets: The UK, China, Italy, Netherlands, Russia, Luxembourg, Poland, Australia, Indonesia, and New Zealand.
- Invest.ae is a portal that brings together local investment institutions and 14 economic units, offering investment possibilities around the United Arab Emirates. The website would give resources for businesses to open more bank accounts.
- The in-country value would redirect 42% of purchases from the federal government and main UAE companies to local services and products. It set targets to enhance the local suppliers from 5,000 to 7,300 and increase the purchase price from Dh 33bn to Dh 55bn over 4 years.
- The emirates investment summit, to be organized next spring, would link investment funds with the private and public sectors to build investment possibilities that allure Dh550bn of foreign direct investment to the United Arab Emirates in the next 9 years.
- The 4th industrial revolution would set targets to increase 500 national companies through the application of advanced technology in 5 years.
- As part of the Global Economic Partnerships, the UAE is entering into a large economic contract with 8 strategic global markets to gain Dh257bn annual growth over the existing Dh40bn trade volume with these markets. A higher committee for economic agreements has been also set up.
- The hundred coders everyday initiative would enhance the number of the coders from 64,000 to 100,000 in 1 year and support the establishment of programming companies through advantages and initiatives.
- The law of UAE data is the first federal law to be drafted in partnership with big technology companies. This would empower people to control how their personal data is utilized, shared, and stored. The projects aim to secure privacy.
- The largest programming summit in the Middle East, PyCon MEA, would be organized next summer. It set a target to link coders with the private and public sectors and to grow digital talent and creative programming projects.