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Home Economy UAE drives development in 2024: Key initiatives and programs propelling growth

UAE drives development in 2024: Key initiatives and programs propelling growth

One of the most notable programs the UAE launched in 2024 is the Unified UAE Numbers project
UAE drives development in 2024: Key initiatives and programs propelling growth
In the economic sphere, the UAE unveiled the National Investment Strategy 2031 in 2024, which targets doubling cumulative foreign direct investment (FDI) between 2025 and 2031

The UAE has maintained its momentum in 2024, driving development and cultural progress through several visionary initiatives and strategic programs designed to strengthen its global standing, enhance its soft power and solidify its leadership across all sectors.

This year, the UAE introduced several forward-thinking programs and policies to anticipate future challenges and create a clear roadmap for sustainable and long-term governance.

Unified UAE Numbers

One of the most notable programs the UAE launched in 2024 is the Unified UAE Numbers project, a landmark national initiative to advance the country’s statistical system and support its ongoing development across various economic, demographic, social, environmental, and other fields.

This initiative, involving all local governments through their respective statistical centers, aims to establish the UAE as a global frontrunner in leveraging data and statistics for informed decision-making. The project concentrates on three primary areas: promoting a proactive economy, supporting communities and society, and driving sustainable environments and renewable energy sources.

The unified numbers project also aims to optimize the national statistical release calendar and ensure the accurate generation of indicators at the national level. Additionally, it seeks to improve global competitiveness and foster international collaboration by offering detailed and precise data on the UAE’s standing in global rankings, such as GDP, inflation, foreign investment, infrastructure, the environment and tourism.

Young Government Leaders Program
(Source: WAM)

Young Government Leaders Program 2024

The UAE also launched the Young Government Leaders Program 2024 during the UAE Government’s Annual Meetings 2024, to highlight and amplify the role of young government leaders across the country. The program brings together 45 of the top young leaders from local and federal government entities aged under 35 years, selected from a group of over 120 candidates.

The program is a national platform to build capacities and develop responsible, proactive, strategic leaders ready to create a better future for the UAE.

National Investment Strategy 2031

In the economic sphere, the UAE unveiled the National Investment Strategy 2031 in 2024, which targets doubling cumulative foreign direct investment (FDI) between 2025 and 2031 and increasing FDI’s share of the national economy from the current 15 percent to 30 percent. The strategy also aims to boost FDI stock to AED1.3 trillion and triple the cumulative FDI balance to AED2.2 trillion by 2031.

The UAE saw an impressive 35 percent increase in foreign direct investment inflows to AED112.6 billion in 2023, amid a global downturn, underscoring the effectiveness of the country’s strategies and the strong international confidence in the nation.

The UAE has also seen remarkable foreign direct investment growth since 2015. Its share of global flows has increased by 5.5 times and inflows rose by 17.3 percent, even as global investment declined by 5.3 percent. This strategy, which aligns with the “We the UAE 2031” vision, aims to position the UAE as a leading global investment hub by focusing on emerging sectors, attracting top talent, and nurturing Emirati leadership, innovation and entrepreneurship.

Plant the Emirates program

In the agricultural sector, the UAE introduced the “Plant the Emirates” program in 2024, encompassing several initiatives to advance agricultural development and enhance sustainable national food security. The Plant the Emirates program seeks to strengthen the UAE’s food security and advance agricultural technologies, build new partnerships with the private sector and expand green spaces.

As part of the initiative, the UAE Cabinet approved the establishment of The National Agriculture Center, a driving force for this sector in the coming years. The center is responsible for developing and implementing strategic initiatives and programs that seek to increase productivity, improve supply chains and reduce agricultural production costs.

It also aims to minimize agricultural waste and support the marketing of local agricultural products. By providing technical support for innovative projects, the center will ensure that the agricultural sector continues to evolve, adopting modern practices and technology-driven solutions.

UAE Work Bundle

Work Bundle

As part of the Zero Government Bureaucracy Program, the UAE launched the Work Bundle in 2024 to facilitate employee residency procedures and work permits in private sector companies. Initially launched in Dubai, the initiative will expand nationwide, saving 62 million workdays annually by reducing bureaucratic procedures, eliminating redundant visits to government offices, and cutting operational costs for businesses.

“Procedures that took 20 to 30 days can now be completed within five days through the new platform,” said Khalil Ibrahim Khoori, undersecretary for Human Resources Affairs at the UAE Ministry of Human Resources and Emiratization.

The Work Bundle platform consolidates processes from multiple government departments into a single online portal. Companies can submit requests and upload necessary documents through a unified system, rather than navigating separate bureaucracies. The new system also reduces the number of required steps from 15 down to 5, and the number of documents from 16 to 5. This benefits over 600,000 businesses employing more than 7 million workers across the UAE.

UAE Government Annual Meetings
(Source: WAM)

National Anti-Drugs Strategy

The UAE Cabinet also approved the National Anti-Drugs Strategy (2024-2031) in 2024, a comprehensive plan encompassing various programs that aim for a drug-free UAE by 2031.

The strategy strengthens measures to deter drug dealers and traffickers at both the local and international levels, expands rehabilitation centers, increases public awareness across all social segments, and establishes correctional centers, among other initiatives.

The National Anti-Drugs Strategy also seeks to bolster community resistance to drug use, advance research in drug detection, support at-risk individuals while harnessing their potential, and establish safe treatment and rehabilitation facilities.

Moreover, it aims to improve employment opportunities for recovering addicts to reduce relapse rates, strengthen border control against drug trafficking, arrest and apprehend drug dealers, actively participate in international counter-narcotics efforts, and promote the responsible use of potentially addictive prescription medications.

This strategy encompasses several key initiatives including awareness campaigns and the development of policies and research that focuses on awareness, prevention, and positive behavioral change.

National Youth Agenda 2031

The UAE also adopted the National Youth Agenda 2031 in 2o24, focusing on preparing at least 100 Emirati youth to represent the country in global organizations and forums related to national priorities, build strategic partnerships in science and technology, and ensure full employment opportunities for young people, while also enhancing their quality of life.

Dubai Resilience Centre

Blue Residency

Furthermore, the Cabinet introduced the Blue Residency, the first long-term residency for individuals with exceptional contributions and efforts in environmental action and sustainability both inside and outside the UAE.

The Blue Residency will specifically be granted to supporters of environmental action. This includes members of international organizations, international companies, members of associations and non-governmental organizations and global award winners. It also includes distinguished activists and researchers in environmental work.

Read: UAE Ministry of Economy sets new pricing policy for 2025, focuses on 9 basic consumer goods

Other major milestones

In a significant move, the Cabinet prioritized federal government job appointments for citizens with at least three years of private-sector experience, incorporating this preference into federal employment systems. The UAE also unveiled its 2024-2027 National Strategy for Anti-Money Laundering, Countering the Financing of Terrorism, reinforcing its commitment to combating financial crimes.

Additionally, the nation adopted a high-level science and technology policy focusing on critical areas such as energy transition, cybersecurity, health, food security, water resources and manufacturing. Finally, the UAE launched the “Riyada” fund, which has allocated AED300 million in incentives to encourage graduates to pursue entrepreneurship.

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