The Minister of Economy and Youth inaugurate the "Young Economists" program

The Federal Youth Foundation held the first introductory meeting for 50 young men and women from the first batch of the "Young Economists Program", organized by the Foundation under the patronage of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, with the aim of preparing a new generation of national economic cadres Providing them with the latest economic trends and global experiences to enhance their ability to provide innovative economic insights.

The selection of this group comes after a specialized jury finishes screening the lists of applicants to join the program, who numbered 650, and conducting interviews with them to select 50 candidates to qualify for the final stage of the program, which is held over a period of 3 months, and includes more than 80 courses and specialized training workshops in the fields Economic and on meetings with leaders, experts and policy makers in the houses of national and global economic expertise.

The members of the program participated today in the first activities of the program through a special meeting held at the Youth Center in the Emirates Towers in the presence of Minister of Economy Abdullah bin Touq Al-Marri, Minister of State for Youth Affairs Shamma bint Suhail bin Faris Al Mazrouei, Director General of the Federal Youth Foundation Saeed Al-Nazri, and representatives of the media in the country.

Abdullah bin Touq Al Marri, Minister of Economy, appreciated the unlimited support provided by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, to the youth and his pioneering efforts in empowering them in various fields of work.

He affirmed that the initiative (the Young Economists Program) strengthens the state’s efforts to develop specialized young national competencies and involve them in making the future economy.

During his speech, he said that youth today are the real investment that the state is betting on to build future emirates, and the government places on top of its priorities the development of youth competencies and capabilities and work to rehabilitate them and enable them to contribute a major role in the development process.

During the session, he reviewed the great development witnessed by the national economy and its ability to transform from an oil economy dependent on oil and gas by up to 80% during the first years of the state’s founding, to become today the most diversified economy in the region and the second largest Arab economy, with a contribution of oil not exceeding 30 %.

In addition to developing an infrastructure that is among the best in the world, facilities, airports, ports and companies that are able to compete globally, making the country today a major hub for foreign trade and an attractive destination for foreign investment, skills, minds and young talents from all parts of the world.

Bin Touq added that the business environment in the country has witnessed a quantum leap by focusing on digital transformation and supporting and embracing small and medium-sized companies and emerging companies based on innovation, especially in priority areas, including the areas of the Fourth Industrial Revolution, artificial intelligence, research and development activities, and others.

He added: "The UAE economy has proven its ability to overcome many of the economic crises and changes that have imposed itself on the global economic scene in recent years, and we find in the systematic response with which the country has dealt with the Covid 19 crisis that the world is going through today is a clear example of this, as the state initiated a group Of the incentives and economic support packages, which totaled 282.5 billion dirhams so far, with the aim of achieving rapid support and mitigating the impacts on the private sector and ensuring the continuity of production and business sustainability.

He continued: “The government has continued its efforts by launching a flexible package and a general plan to support the economic sectors, consisting of 33 specific initiatives, and will be implemented in three phases, so that the country, with the completion of the plan’s implementation, is fully prepared to enter a flexible and sustainable long-term development path, as part of its efforts to prepare for the next 50 years. "

Bin Touq also reviewed the axes of the state's economic plan for the next 50 years, which is based on five main axes that include: the new economy, entrepreneurship and small and medium enterprises, tourism, foreign direct investment and doubling exports, and attracting and retaining talent and competencies.

At the conclusion of the session, His Excellency bin Touq addressed a message to the youth, saying: “The UAE today needs many economists to participate in leading government economic work and developing the private sector, by presenting new ideas, discussing advanced economic experiences, and continuing to contribute to enhancing knowledge and developing concepts and trends. A highly efficient economy provided by Emirati youth to decision-makers and the world.

He called on youth to be part of these national efforts by developing their capabilities, knowledge and specializations in the economic field.

For her part, Shamma bint Suhail bin Faris Al Mazrouei said: “The Young Economists Program” is one of the important programs for developing the skills and capabilities of a generation of citizen economic experts in the future, as its importance lies in activating the role of youth in contributing to the achievement of our national goals over the next fifty years and building an economy Sustainable knowledge strengthens our country's position as one of the best countries in the world in various fields.

She added, "Today, the economy has become a major catalyst for governments, institutions and the behavior of community members, and when we delve deeper into this aspect, we see that the economy is everything in our life, and despite that, the numbers of those interested in this field are still much less than what is required, especially in our region." Supplying the economy with a group of knowledgeable experts and specialists who are able to offer innovative economic visions and plans that achieve the goals of the UAE Centennial Vision 2071, and contribute to sustainable development, prosperity and building a better future for future generations.

For his part, Saeed Al-Nazri clarified that the Federal Youth Foundation is looking forward through the program to empowering the capabilities of young people and providing them with the necessary skills and knowledge in various fields to become effective leaders in the future of our country, and put their mark on the state's preparations for the fifty and reach the goals of the Centennial Vision 2071.

He added, "Within the agenda of the program, we have devoted a series of meetings and meetings for young economists with leaders, experts, policy makers, the most prominent economic figures in the country and experts from around the world, as well as a group of field visits to national and international economic expertise houses, to contribute to empowering and qualifying young people to participate in making a model An effective national economy in light of the accelerating international changes, and we are absolutely certain that all participants in the program will have a pioneering role in the future to contribute to the development of the national economic system, and to provide an innovative Emirati economic model based on the capabilities and potential of youth.

The Young Economists Program aims to educate Emirati youth about the importance of specializing in the economic field, building and preparing national leaders capable of leading the various modern economic fields, activating the role of Emirati youth in building the future economy, and equipping them with the necessary knowledge about economic trends and global experiences.

The list of program partners includes: the Ministry of Economy, the Federal Competitiveness and Statistics Authority, the Department of Economic Development in Abu Dhabi, the Dubai Department of Economic Development, the Dubai International Financial Center, the Dubai Financial Market, the Emirates Center for Research and Strategic Studies, the Dubai Center for the Development of Islamic Economy and Emaar. Real Estate, Mubadala Investment Company, International Monetary Fund, Regional Technical Assistance Center for the Middle East "METAC" of the International Monetary Fund, Standard Chartered Bank, HSBC Bank, Abu Dhabi National Oil Company, ADNOC, "CNBC" Arabia, and Bloomberg, And Harvard Business Review, Heikal Media, Wamda Foundation for Entrepreneurship in the Middle East and North Africa, the National Program for Small and Medium Enterprises and Enterprises, and CFA.

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