GCC

UAE government approves 10 economic principles for the country

Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, said the government has approved 10 economic principles that will guide the country in the coming decade.

On the second day of the two days of government meetings in Abu Dhabi, Sheikh Mohammed said there was a focus on the economic agenda to improve growth. The principles include having an open economy without boundaries, attracting the best talent, investing in the digital economy, providing diverse opportunities for young people, building a sustainable and balanced economy, protecting state financial systems, and having the world’s best logistics system.

“Today, we concluded the annual meetings of the UAE government, during which we decided to focus significantly in the coming period on the economic agenda to enhance the country’s developmental momentum, reinforce and solidify it, and reach new levels of growth,” Sheikh Mohammed said on X.

“The UAE government today approved the economic principles for the state over the next 10 years to serve as the general framework in which we will concentrate on achieving our economic targets.”

Sheikh Mohammed said today’s meeting focused on enhancing the country’s developmental momentum, reinforcing and solidifying it, and reaching new levels of growth. More than 500 dignitaries, including heads of UAE executive boards, ministers, and senior officials in the federal and local governments, gathered in Abu Dhabi for talks at federal and local levels to discuss and review strategies and initiatives.

“We want to see the UAE at the forefront of the global economies, with a strong digital infrastructure, secure systems, flexible legislative framework, and a renewable futuristic mindset,” Sheikh Mohammed said.

Here is the full list of the principles and what they mean: