The UAE maintains its leadership as a regional and global destination for investment, trade and tourism

Under the leadership of Mohammed bin Zayed, the national economy is heading towards sustainable growth prospects

picture

The UAE is entering a new era of economic development and diversification, entitled “sustainable growth,” based on the achievements of the “empowerment” stage, where it has achieved advanced infrastructure and global national industries, and continues the “UAE Centennial Plan 2071”, in which the economy constitutes the largest share of its principles. The country aims for a more prepared and proactive future in dealing with changes and developments, to make the UAE, the best in the world, by 2071.

The UAE is moving during the next stage, under the leadership of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, based on its achievements over the past five decades, to a new era of development and progress that enhances its position and pioneering role, an effective and influential financial and economic power, and a global development model to be followed. Reinforcing its approach as the human being is the real and main wealth of the state, and its development gains have further added to the social welfare of the UAE population.

The UAE is completing its development based on an advanced infrastructure capable of enabling and motivating the benefit of the innovations and technologies of the Fourth Industrial Revolution, artificial intelligence, enhancing the competitiveness of the national industry, attracting talent, investing in energies and future skills, and focusing on the knowledge economy, through new unprecedented strategies for economic diversification. Building capacities in new economic sectors, integrating and employing advanced technologies to support the growth of the national economy, and enhancing research and development capabilities.

Under the leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the State, the UAE continues its leadership as a regional and global destination for investment, trade and tourism, continuing to take the lead in global competitiveness indicators and economic openness to a new stage of growth and prosperity.

National economy

The next stage in the national economy will witness the activation of the digital economy as a key driver and supportive of competitiveness, and work to empower society with the tools of the Fourth Industrial Revolution, and to achieve the highest level of benefiting from the strengths and competitive advantages enjoyed by the UAE in vital sectors, including the petrochemical industry, derivatives, supply chains, the aluminum industry and partnerships. The comprehensive plan that I started this year based on the partnership with India.

During the next stage, the national economy will witness an acceleration of the pace of work with development plans and support for the private sector, adding new economic sectors based on advanced industries with the readiness of national competencies for the new sectors, enhancing the position of the UAE as a global destination for investment, and relying on the technologies of the Fourth Industrial Revolution in a comprehensive way to lead the UAE in the region Towards a future based on artificial intelligence and knowledge economy.

The UAE has made great achievements over the past few years that have placed it globally in the fields of a new economy based on knowledge, innovation, research and development and advanced technology. These achievements include the Mohammed bin Rashid Solar Energy Complex, the operation of the Barakah Nuclear Energy Plant, and the launch of the Hope Probe to explore Mars.

attractive destination

The UAE will enhance ways and mechanisms to benefit from the confidence it has gained over the past years, as an attractive destination for foreign direct investment to attract more quality investments, which will contribute to stimulating economic growth. It will also work on more use of artificial intelligence and big data analysis in the banking and insurance sector.

The "300 billion dirhams" project to develop the industry, raise its contributions to the national economy, and comprehensive partnership with many countries to open new markets for national exports, and increase foreign investment to 550 billion dirhams until 2030, reaching one trillion dirhams in 2051, represent strategic goals for the national economy. during the current decade.

It is noteworthy that foreign direct investments coming into the UAE include all vital economic sectors and activities, such as conventional and renewable energy, oil and natural gas, financial activities, insurance activities, real estate, health, industrial, agriculture, etc., as well as a group of sectors of the new economy and digital economy in the country, as well as attracting foreign investments. Wide areas such as technology, innovation, artificial intelligence, Internet of things, “blockchain”, innovative medical technologies, high-speed transportation, virtual and augmented reality, robotics and self-driving cars.

fiftieth economy

The Fifty-Year Economy Plan, recently launched by the state, constitutes a clear roadmap to achieve an integrated competitive economy through five axes, including macroeconomics, entrepreneurship, small and medium enterprises, tourism, foreign direct investment, doubling exports and attracting talent.

A time frame has been set for the first phase of the fifty-economy plan by the end of 2030 to complete 33 initiatives that constitute a package to support the economic sectors, and represent an important stage that paves the way for building a more flexible and competitive economic model that provides support for the objectives of the fifty-year plan.

The fifty-economy plan falls under the umbrella of the “Year of Preparation for the Fifty” strategy, and includes the ambitious economic outputs of the future economy, which aims to achieve a qualitative leap in the growth of the national economy of the UAE by 2030, as a first stage to fit with the determinants of the “UAE Centennial 2071”, and it constitutes one of the paths of Work to achieve many of its economic goals.

The entrepreneurship axis represents a strategic direction to consolidate the UAE’s position as a global destination for entrepreneurship, especially in innovation and technology, which contributes to increasing the small and medium-sized enterprises sector in the country’s GDP, working to further promote the UAE as a leading and sustainable tourist destination, and promoting eco-tourism and cultural activities.

• Increasing foreign investment to 550 billion dirhams by 2030, and one trillion dirhams in 2051.

• The next stage in the national economy will witness the activation of the digital economy as a main engine and supportive of competitiveness.

• Foreign direct investments coming into the UAE include vital economic sectors and activities.

• The national economy will witness, during the next stage, an acceleration of the pace of development plans, support for the private sector, and the addition of new economic sectors.

Follow our latest local and sports news and the latest political and economic developments via Google news