His Highness Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, Vice President and Prime Minister of the UAE, chaired a Cabinet meeting at Qasr Al Watan in Abu Dhabi.
During the meeting, the cabinet approved the development of legislative mechanisms in the UAE by establishing a Legislative Intelligence Office within the cabinet.
Sheikh Mohammed explained that the Legislative Intelligence Office will develop an integrated legislative map for all federal and local legislation in the UAE and link it via artificial intelligence to all judicial rulings, executive procedures and services provided to the public.
“The new system will monitor the impact of new legislation on the public and the economy on a daily basis through integration with big data, and propose legislative amendments on an ongoing basis,” Sheikh Mohammed added.
The new system will also be linked to global research and development centers to monitor the best global policies and legislation and how they can be utilized in the UAE.
“The new AI-powered legislative system will revolutionize the legislative cycle, its speed, and its accuracy, ensuring our national legislative excellence and ensuring our laws are aligned with best practices and the highest aspirations, in line with the unique nature of our rapidly evolving development experience,” added Sheikh Mohammed.
Make it in the Emirates preparations
The cabinet also discussed the Ministry of Industry and Advanced Technology’s preparations for hosting the “Make it in the Emirates” Forum. This forum strengthens the UAE’s industrial sector by offering purchase opportunities, investment prospects, financing solutions, and partnerships worth AED160 billion.
“Our industrial sector contributes AED210 billion to our GDP, having grown by 59 percent over the past four years. We approved the launch of the Energy Efficiency Global Alliance, which was announced during the UAE’s hosting of COP28. The alliance aims to foster international cooperation, share expertise, and develop global policies to double energy efficiency across all sectors by 2030,” added Sheikh Mohammed.
Sheikh Zayed Housing Program financing in focus
The UAE cabinet also reviewed the results of the “Plant the Emirates” campaign, which was launched at the start of the season, as well as the outcomes of the National Sports Strategy and the annual report on money laundering and terrorism financing risks in the UAE.
“We also reviewed the results of the new financing mechanisms for the Sheikh Zayed Housing Program, which issued 9,400 approvals worth AED7.5 billion over the past three years. We will continue to improve these mechanisms to meet the growing annual demand for housing,” he added.
The UAE cabinet also discussed the progress of the UAE’s tax system, which supports financial sustainability and strengthens global competitiveness. The UAE ranks fifth globally in tax policy efficiency and second in combating tax evasion, according to the annual report by the International Institute for Management Development (IMD) in Switzerland.
“The efforts of the teams working on the tax ecosystem in the UAE have resulted in the registration of 520,000 companies under the Corporate Tax and 470,000 under the Value-Added Tax… The tax system is a key part of our economic foundation for the future,” added Sheikh Mohammed.
He added that its efficiency reflects the strength of the UAE’s competitive economy, and the tax culture it has built is a new step the country has successfully taken recently.
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Cabinet approves 44 international agreements
The cabinet also approved 44 international agreements in economic, developmental and governmental fields, and authorized the start of negotiations for investment protection and promotion agreements with 30 countries worldwide.
“The UAE will continue to build economic and investment ties with friendly and sisterly nations, maintaining its open economic approach that has solidified its position as a global economic hub connecting East and West,” added Sheikh Mohammed.
