Adoption of “full-time free work” for citizens working in the government... and housing loans at a rate of 500 beneficiaries per month
Mohammed bin Rashid: Our economy is fine and growing, and our path is on the rise.. and citizen support continues
Mohammed bin Rashid during his presidency of the Council of Ministers.
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His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, chaired the Cabinet meeting, which was held at Qasr Al Watan in the capital, Abu Dhabi, in the presence of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Deputy Prime Minister Minister of Finance, and Lt. General H.H. Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, and H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court.
His Highness Sheikh Mohammed bin Rashid Al Maktoum said: "I chaired a cabinet meeting at Qasr Al Watan in Abu Dhabi. At the beginning, we reviewed our economic results compared to before the pandemic, 47% growth of our non-oil exports, 16% growth in foreign investment ... 126% growth of new companies. registered in the state.. our economy is fine and growing.. and our path is on the rise, praise be to God.”
His Highness also said: “During the meeting, we decided to approve housing loans for citizens worth 2.4 billion dirhams during the next six months, with 500 beneficiaries per month.
Our goal is to complete 13,000 homes from the Zayed Housing Program over the coming years.
And the process of supporting the citizen will continue, God willing.”
His Highness added: “We decided within the Council the decision to leave full-time for citizens working in the government who wish to run their own businesses.
The leave is for a full year with half the salary, while maintaining his job.
Our goal is to encourage our youth to take advantage of the huge business opportunities offered by our national economy.”
His Highness said: "I witnessed the signing of performance agreements for a number of ministers...the agreements stipulate the completion of the 36 transformational ministries' projects, within six months to a maximum of 12 months, in short strategic cycles for the government to enable it to respond to changes quickly and with greater flexibility."
His Highness added: "The best conclusion to our day was honoring (Mother of the Emirates) Her Highness Sheikha Fatima bint Mubarak, Chairwoman of the General Women's Union, President of the Supreme Council for Motherhood and Childhood, Supreme Chairwoman of the Family Development Foundation, as the most important figure supporting gender balance in the country... Sheikha Fatima's journey in empowering women The UAE represents an exceptional model in this field at the regional and global levels.”
During its session, the Council of Ministers was briefed on the results of the national economic plan for recovery and economic advancement from the repercussions of the emerging corona virus (2020-2021), which included 33 initiatives that were designed and implemented in partnership between local and federal authorities, and the percentage of completion in various initiatives that took place in three phases. To 100%, the focus areas of the initiatives included: enabling the new economy, developing priority sectors, opening new markets locally and internationally, providing financial support and facilitating lending, stimulating tourism, attracting talent, and stimulating innovation.
According to the results, the main indicator of economic growth reflected the growth of GDP in 2021, by 3.8%, exceeding the estimates of international institutions by 1.7%, as they estimated its growth by 2.1%, while the growth of non-oil GDP reached 5.3% for the year 2021.
According to the results of the sub-indicators of economic growth, the proportion of foreign direct investment inflows increased in 2021, compared to 2019, by 16%, the growth rate of non-oil exports to the country by 47%, the growth rate of new companies registered in the country by 126%, and the growth rate of related revenues Economic movement 19%.
Deputy Head of State:
"Our economic results compared to before the pandemic: 47% growth in our non-oil exports, 16% growth in foreign investment... 126% growth in new companies registered in the country."
"A full-time leave for citizens working in the government who wish to run their own business...a full year with half the salary while maintaining his job... Our goal is to encourage our youth to take advantage of the huge business opportunities offered by our national economy."
"I witnessed the signing of performance agreements for a number of ministers... that stipulate the completion of the 36 transformational ministries' projects within six to 12 months."
"Sheikha Fatima's journey in empowering Emirati women is an exceptional model at the regional and global levels."
"Our goal is to complete 13,000 homes from the Zayed Housing Program in the coming years."
Rules for granting sabbatical leave for self-employment
The Council of Ministers has approved rules and conditions for granting a citizen employee in the federal government a “sabbatical leave for self-employment” as an accrued leave among the employee's leaves, based on international best practices in this regard.
The controls include granting the employee an exceptional leave to establish or manage any private project owned by him through the head of the federal entity or his authorized representative, provided that the purpose of the leave is to establish an economic project in the private sector, manage an existing project, or participate with others in establishing an economic project, and obtain The approval of the employer, and the necessary licenses for the project, and the leave is granted to the employee based on the availability of approved conditions and controls, and what the employer decides as required by its interest.
Organizing donations
The Council of Ministers approved the executive regulations of the federal law regarding the regulation of donations, which includes provisions for the controls for regulating the collection and submission of donations inside and outside the country, in a manner that enhances efforts to combat money laundering and combating terrorist financing and financing illegal organizations. The law and its executive regulations also enhance the quality of life of the individual and society by ensuring Deliver aid to those who deserve it.
commercial companies
The Council of Ministers approved the issuance of a number of decisions regarding activating the Commercial Companies Law regarding the controls to motivate them to assume their social responsibilities, in a way that supports the positive impact of all commercial companies that make contributions to society in a way that enhances their social responsibility, and issued a decision regarding limited liability companies that includes the procedures for establishing a person’s company The one with limited liability, the related parties for these companies, and the most important provisions regulating the establishment of these companies.
On the agenda of the council meeting:
■ Review the results of the economic plan for recovery and economic advancement from the repercussions of the emerging corona virus.
■ Adoption of controls for granting sabbatical leave for self-employment to employees in the federal government.
■ Adoption of the economic statistical framework for the cultural and creative industries.
■ Adoption of a federal law on financial leasing.
■ Activate the Commercial Companies Law with a set of Cabinet decisions.
■ Adoption of the executive regulations of a number of federal laws, namely the Commercial Register Law, the Donations Regulation Law, and the Biosafety Law of Genetically Modified Organisms and Their Products.
■ Adoption of a system for collecting federal government revenues by commercial banks operating in the country.
financial leasing
The Cabinet approved the issuance of a federal law on financial leasing, with the aim of expanding the base of financing and lending in the country through financial leasing operations and emphasizing the principle of freedom of contract in order to ensure flexibility when concluding financial leasing contracts and to achieve an ideal balance of rights and duties for the parties to the financial leasing contract (the lessee, the lessor, and supplier/contractor) and clarifying the relationship between this law and the law on guaranteeing rights in movable funds. The law also included the central bank’s responsibility to regulate, license and supervise the financial leasing activity practiced by banks and companies subject to regulation by it in accordance with the legislation in force in the country.
Home loans worth 2.4 billion dirhams
During its session, the Council of Ministers approved housing loans for citizens at a value of 2.4 billion dirhams during the next six months, at a rate of 500 beneficiaries per month, within the framework of the new policy for housing loans recently approved by the Council. During the current year, 3,000 beneficiaries of housing loans will be targeted.
Organizing economic registry procedures
The Council approved the executive regulations of the Federal Decree-Law on the Commercial Register, which ensures the provision of a comprehensive national economic database on economic activities and links with all licensing authorities in the country, including free zones. And update the commercial register data with the competent authority with the economic register, according to which all commercial register data in the economic register is immediately and instantaneously reversed, and every change or modification that occurs to those data in a way that supports ease of doing business in the country and the ease of linking federal and local government services with the economic register.
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