He stressed that the package of initiatives launched by Mohammed bin Rashid is a major part of the "Fifty Economy" plan.
Bin Touq: Developing the national economy according to a new, proactive and flexible model
“Economy”: The family business platform aims to enhance the role of family businesses in economic growth and ensure their continuity.
archival
picture
The Minister of Economy, Abdullah bin Touq Al Marri, confirmed that His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, launched a package of economic initiatives, during his visit to the Ministry of Economy, as a pivotal station in developing the country's economic model, to be more Competitive, flexible and sustainable, based on a proactive approach and innovative policies, and keeping pace with the trends of the new global economy.
He explained that the initiatives are a major part of the fifty-year economy plan, prepared by the Ministry of Economy, which adopts an ambitious goal, which is to double the gross domestic product by 2030, through four main axes, including: developing economic enablers, increasing opportunities in the country's economic climate, providing Elements of business expansion and growth, strengthening the role of the UAE economy on the global stage.
Bin Touq added that the five initiatives launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, which are the Family Business Platform, the Emirates Economic Growth Lab, the Entrepreneurship Skills Development Academy, the Business Growth Support Platform, and the Investopia Investment Summit, are integrated with a number of other initiatives. Which were previously announced, most notably the national strategy to attract and attract talent, and the "Thriving in the Emirates" platform, to support the country's efforts in achieving the strategic goal of doubling the economy and developing the country's economic model.
For his part, Minister of State for Entrepreneurship and Small and Medium Enterprises, Dr. Ahmed Belhoul Al Falasi, said that “the launch of the five initiatives paves the way for a new phase of economic work in the UAE, and directs efforts and partnerships between the government and the private sector, to serve the new economic model of the state, based on flexibility and proactivity. and entrepreneurial thought,” stressing that entrepreneurship is an important pillar within this model, which will be worked on through the Academy for Building Entrepreneurship Skills, and a platform to support the growth of companies, so that the UAE will be a world leading destination for entrepreneurial ideas and projects, and stimulate the growth of small and medium companies, to become Large companies, providing global success stories.
Role integration
In turn, Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, confirmed that intensive efforts and integration of roles will be made between the Ministry of Economy and its partners, during the next phase to implement the initiatives launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, and enhance their impact on the business and investment environment. and its positive results on the national economy, stressing that these initiatives, such as the Investopia Summit initiative and the national strategy for attracting and retaining talent, will enhance the UAE’s position as an attractive destination for foreign direct investment, a global center for policy-making and idea generation, and enhance opportunities and build partnerships in the sectors of the new economy, And a favorite destination for global talent.
Family Business Platform
The family business platform aims to enhance the role of family businesses in economic growth, and ensure their continuity and expansion from one generation to another, by motivating them to adopt future economic trends, and expanding their investments in new economic sectors, to be a major tributary of economic growth over the next 50 years, given their contribution to Today, family businesses represent 90% of the total private companies in the country, and contribute more than 40% of the GDP, through their investments that focus on important sectors, such as real estate, tourism, industry, technology and logistics.
The platform works to create a tripartite partnership between the Ministry of Economy and the family business sector, whether large or small and medium, and the startup sector.
At the same time, the platform supports the startup sector in accessing opportunities, accelerating growth, and enhancing their ability to create and develop large projects.
Economic Growth Lab
The Emirates Economic Growth Lab initiative represents a research institute related to the development of economic policies, based on a new perspective, based on proactiveness and anticipating the future, and benefiting from the best experiences and global minds in the field of policy-making. The laboratory hosted by the Ministry of Economy is based in partnership with four national universities, They are: the United Arab Emirates University, Zayed University, the American University of Sharjah, and New York University Abu Dhabi, in cooperation with a number of the most prestigious international universities, and the best experts and academics in various related disciplines participate in it.
The Academy initiative to build entrepreneurship skills aims to form the entrepreneurial mindset from early educational stages, graduate a generation of young people imbued with entrepreneurial thought, and provide a supportive environment for them to join entrepreneurship.
The academy includes four main programs: an educational program for school students, a graduate skills qualification program, a vocational training program in entrepreneurship, and a program to honor distinguished entrepreneurs and stimulate their business growth.
Enterprise support platform
The corporate growth support platform is designed to provide initiatives, services and products for small and medium-sized companies that can grow, to enable them to expand and reach the category of large and billion companies, and enhance their ability to achieve commercial successes across borders.
The Investopia Investment Summit is designed to be an umbrella for the world's most ambitious visionaries, leaders and investors, to unlock ideas, create opportunities and invest in the future.
The summit provides an effective platform for building sustainable partnerships between governments, global investors, and private sector companies, and aims to accelerate the growth of current economic sectors, by adopting innovative ideas, taking advantage of the opportunities that the platform will provide, and accelerating the transformation towards future models and sectors.
The first edition of the summit will be launched in March 2022.
National strategy to attract talent
The national strategy for attracting and retaining talent aims to achieve three strategic goals: consolidating the UAE’s position as one of the top 10 countries in the field of global talent competitiveness, ensuring the availability of talent in the country’s strategic sectors, enabling the knowledge economy, and consolidating the UAE’s image as a preferred destination for talent, competencies and creative minds. from different countries of the world.
The strategy focuses on attracting 100,000 talents in 10 main sectors: ICT and space, food and water security, science and education, energy and renewable and clean energy, traditional and advanced industries, health, financial services, transportation and logistics, cultural and creative industries, and entrepreneurship. .
The strategy includes five programs to attract talent through it, which are the Global Investor Program, the Global Entrepreneurs Program, the Exceptional Global Talent Program, the Global Skilled Labor Program, and the Young Talent Mobility Program.
Thrive in the UAE platform
The “Thriving in the UAE” platform represents an umbrella to unify the country’s efforts to attract foreign direct investment, and provides comprehensive information to potential investors about the laws of the investment environment within the country and in free zones, their advantages and incentives, and reviews the latest relevant economic indicators, and provides specialized data such as opportunities and promising sectors in the UAE. Each stage, examples and success stories help new investors, and research on market trends in the country.
Follow our latest local and sports news and the latest political and economic developments via Google news