Latest news with #EmiratesCouncilforBalancedDevelopment
Gulf Insider
18-06-2025
- Business
- Gulf Insider
UAE Ranked 5th in Global Competitiveness Ranking
The UAE has ranked in fifth place in a global competitiveness ranking, outperforming major economies including the US, Sweden, and Germany. The achievement was reviewed at a meeting of the UAE Cabinet, chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, at Qasr Al Watan in Abu Dhabi. During the meeting, Sheikh Mohammed confirmed that over 1,830 UAE citizens received housing support in the first half of 2025, with grants exceeding AED1.25bn ($340.4m), to reinforce family stability and ensure decent living standards. Sheikh Mohammed said: 'I chaired a Cabinet meeting at Qasr Al Watan in Abu Dhabi, where we reviewed the UAE's performance in the 2025 IMD World Competitiveness Ranking. The UAE ranked fifth globally, alongside the world's leading countries in economic competitiveness, government efficiency, legislative strength, and business environment excellence. 'Fourteen years ago, we established a competitiveness centre, uniting the efforts of key national entities. These efforts have elevated the UAE's ranking from 28th globally in 2009 to being among the top five globally in competitiveness. 'In the same report, the UAE ranked first globally in the absence of bureaucracy index, second globally in government policies adaptability index, and fourth globally in government efficiency index. 'This achievement is a testament to years of consistent effort. With the vision of my brother, Mohamed bin Zayed, our future will continue to be even brighter and stronger.' The UAE led globally in 22 indicators including employment rate, availability of global expertise, digital company transformation, and female parliamentary representation. The UAE also ranked second globally in social cohesion, flexibility of residency laws, and government policy adaptability, while securing third globally in graduates in sciences, leverage of digital tools and technology, and healthcare infrastructure. The Cabinet also reviewed the 2024 report of the Higher Commission for Free Trade Negotiations, confirming the signing of 27 Comprehensive Economic Partnership Agreements (CEPAs), of which eight have come into force. This has helped the UAE achieve: AED5.23tn ($1.42tn) in total foreign trade (2024) AED440bn ($119.9bn) in non-oil exports (up 16.3 per cent YoY) AED684.3bn ($186.4bn) in re-exports AED113bn ($30.8bn) in foreign direct investment in 2023 The UAE Cabinet also reviewed the Emirates Council for Balanced Development, chaired by Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Deputy Chairman of the Presidential Court for Development and Fallen Heroes' Affairs. Highlights include completed and ongoing projects in Qidfa, Masfout, and Al Rams. These include community spaces, markets, ecotourism initiatives, and the 'Jothoor' programme empowering female Emirati artisans. The Cabinet also reviewed the success of the Digital Identity system, now used by more than 11m citizens and residents, enabling 600 million secure logins and facilitating 2.6bn digital transactions. New federal initiatives approved by the Cabinet include: National Maritime Navigation Centre to oversee vessel tracking, marine safety, and environmental protection Restructuring of the Higher Committee for Anti-Money Laundering and Countering Terrorism Financing, chaired by Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs A draft law to safeguard UAE cultural heritage and enhance public awareness The United Arab Emirates Council for Climate Action was also restructured to accelerate the Net Zero 2050 strategy, with the UAE expanding protected areas (18 per cent mainland, 12 per cent marine) and adding nine new biodiversity hotspots, alongside a plan to plant 100 million mangrove trees by 2030. Special attention to the fourth edition of the Make it in the Emirates platform, which in 2025 attracted more than 122,000 visitors and facilitated: AED168bn ($45.7bn) in potential procurement deals for local manufacturing AED11bn ($3bn) in new industrial project agreements AED40 billion ($10.9 billion) in SME financing over five years Furthermore, the Cabinet ratified 13 international agreements, including economic and visa deals with Montenegro, Vietnam, Uganda, and New Zealand. Approval was also granted for: 36 new MOUs and agreements, including with Hong Kong and the Eurasian Economic Union Establishing UAE embassies in Togo, Gabon, Cameroon, and Tajikistan, and a Consulate General in Miami, USA UAE participation in 13 global events and hosting of key summits like the Central Banks Data Cooperation Group Also read: UAE Offers Corporate Tax Fine Waiver — but Deadline Looms
ARN News Center
18-06-2025
- Business
- ARN News Center
H.H. Sheikh Mohammed: UAE ranked 5th in World Competitiveness Ranking
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has chaired a Cabinet meeting, highlighting major national achievements and approving key initiatives. During the meeting at Qasr Al Watan in Abu Dhabi, Sheikh Mohammed announced that the UAE has ranked 5th globally in the 2025 IMD World Competitiveness Ranking. The country was recognised for its strengths in economic performance, government efficiency and business environment. Notably, it ranked 1st worldwide for minimal bureaucracy and 2nd for government adaptability. His Highness credited 14 years of coordinated national efforts for this rise from 28th place in 2009. The Cabinet also approved housing grants worth AED 1.2 billion for over 1,800 citizens in the first half of 2025, reinforcing efforts to ensure stable and decent living conditions for Emirati families. It also reviewed the Emirates Council for Balanced Development's progress in enhancing Emirati villages and supporting families and small businesses, as well as the success of the UAE's digital identity system UAE PASS, which now supports over 11 million users and has processed 2.6 billion digital transactions. Further approvals included restructuring the national anti-money laundering committee, establishing a National Maritime Navigation Centre to enhance marine safety, and endorsing the 2024 Annual Report on Free Trade Negotiations, which saw 27 major trade agreements signed. #uaegov — UAEGOV (@UAEmediaoffice) June 17, 2025
Hi Dubai
18-06-2025
- Business
- Hi Dubai
UAE Cabinet Approves Major National Initiatives and Reviews Global Competitiveness Gains
The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, has approved a wide-ranging set of national initiatives during a meeting held at Qasr Al Watan in Abu Dhabi, reaffirming the country's commitment to balanced development, global competitiveness, and sustainable growth. The session came as the UAE was ranked fifth globally in the 2025 IMD World Competitiveness Ranking—its highest to date. UAE Among Top Five Globally in Competitiveness During the meeting, the Cabinet reviewed the UAE's performance in the latest IMD World Competitiveness Ranking, where the country climbed two places to reach fifth globally, surpassing major economies including the United States, Germany, and Canada. The UAE ranked first worldwide in indicators such as absence of bureaucracy, global expertise availability, and digital transformation in companies. It also ranked second in adaptability of government policies and social cohesion, and third in business efficiency and use of digital tools. This marks a significant improvement since 2009, when the country stood at 28th place. Officials attributed this rise to long-term investment in competitiveness, government efficiency, and strategic reforms across key sectors. AED 1.2 Billion in Housing Grants Approved The Cabinet approved housing grants for 1,838 Emirati citizens in the first half of 2025, with a total value exceeding AED 1.2 billion. This initiative is part of ongoing efforts to promote family stability and enhance living standards across the nation. Balanced Development and Community Projects The Emirates Council for Balanced Development presented its 2024 achievements, which included major projects in regions such as Qidfa, Masfout, Al Sila', and Al Rams. These developments ranged from waterfronts and cycling tracks to cultural restorations and tourism initiatives. The 'UAE Villages Councils' programme, under the 'Jothoor' initiative, was also launched to empower female artisans, support families, and promote traditional crafts through community-led markets and events. Expansion of the Digital Government Ecosystem The Cabinet reviewed progress on the UAE's unified digital identity system, which has now registered over 11 million users and facilitated more than 600 million secure logins. The platform connects 130 public and private sector entities and has enabled 2.6 billion digital transactions to date. A new National Maritime Navigation Center will be established under the Ministry of Energy and Infrastructure. The center will monitor maritime traffic, manage a unified maritime database, and enhance safety and environmental protection in UAE waters. Steps to Combat Money Laundering Strengthened The Cabinet approved the restructuring of the Higher Committee for Overseeing the National Strategy on Anti-Money Laundering and Countering the Financing of Terrorism. The committee, now chaired by Sheikh Abdullah bin Zayed Al Nahyan, will continue to strengthen the country's policies and regulatory frameworks in alignment with international standards. Record Trade Growth and New Global Partnerships The Cabinet reviewed the 2024 annual report on Comprehensive Economic Partnership Agreements (CEPAs). The UAE has signed 27 CEPAs to date, eight of which are already in effect. These agreements helped push the country's foreign trade volume to a record AED 5.23 trillion in 2024, alongside historic highs in non-oil exports and re-exports. Thirteen international agreements were ratified, including partnerships with countries like Vietnam, Montenegro, Uganda, and New Zealand. The Cabinet also approved negotiations for 36 new agreements and the establishment of UAE embassies in Togo, Gabon, Cameroon, and Tajikistan. Focus on Heritage, Environment, and Industry The Cabinet endorsed a draft federal law to preserve the UAE's cultural heritage, reviewed achievements under the 'Make it in the Emirates' platform, and approved AED 40 billion in financing to support local manufacturing and SMEs. On the environmental front, the UAE added nine new sites to the global biodiversity hotspot list and launched a roadmap to plant 100 million mangroves by 2030. Protected areas were expanded significantly both on land and at sea. International Engagement and Upcoming Events The Cabinet approved the UAE's participation in 13 international events and its accession to global bodies such as the International Competition Network and the OECD Forum on Tax Administration. The country will also host high-level summits, including the Central Banks Data Cooperation Group Annual Summit. The meeting underscored the UAE's ongoing efforts to position itself as a global leader in governance, innovation, sustainability, and international cooperation. News Source: Emirates News Agency
Dubai Eye
18-06-2025
- Business
- Dubai Eye
H.H. Sheikh Mohammed: UAE ranked 5th in World Competitiveness Ranking
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has chaired a Cabinet meeting, highlighting major national achievements and approving key initiatives. During the meeting at Qasr Al Watan in Abu Dhabi, Sheikh Mohammed announced that the UAE has ranked 5th globally in the 2025 IMD World Competitiveness Ranking. The country was recognised for its strengths in economic performance, government efficiency and business environment. Notably, it ranked 1st worldwide for minimal bureaucracy and 2nd for government adaptability. His Highness credited 14 years of coordinated national efforts for this rise from 28th place in 2009. The Cabinet also approved housing grants worth AED 1.2 billion for over 1,800 citizens in the first half of 2025, reinforcing efforts to ensure stable and decent living conditions for Emirati families. It also reviewed the Emirates Council for Balanced Development's progress in enhancing Emirati villages and supporting families and small businesses, as well as the success of the UAE's digital identity system UAE PASS, which now supports over 11 million users and has processed 2.6 billion digital transactions. Further approvals included restructuring the national anti-money laundering committee, establishing a National Maritime Navigation Centre to enhance marine safety, and endorsing the 2024 Annual Report on Free Trade Negotiations, which saw 27 major trade agreements signed. The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, reviews UAE's results in 2025 IMD Global Competitiveness Report, along with reports and updates of government initiatives. #uaegov — UAEGOV (@UAEmediaoffice) June 17, 2025
Sharjah 24
17-06-2025
- Business
- Sharjah 24
Mohammed bin Rashid: UAE 5th in 2025 IMD Competitiveness Index
The meeting was attended by His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court; His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence; His Highness. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance; and His Highness Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister, and Minister of the Interior. UAE's global competitiveness performance During the meeting, Sheikh Mohammed highlighted the UAE's advancement in the 2025 IMD World Competitiveness Ranking, where the country secured 5th place globally, scoring 96.09 out of 100 points. This achievement places the UAE among leading nations in economic competitiveness, government efficiency, legislative strength, and business environment excellence. The UAE's ranking has improved from 28th in 2009 to 5th in 2025, reflecting significant progress over the past 14 years. Key indicators of competitiveness The IMD report assesses countries based on four main factors: economic performance, government efficiency, business efficiency, and infrastructure. The UAE excelled in several areas, ranking 1st globally in the absence of bureaucracy index, 2nd in government policies adaptability index, and 4th in government efficiency index. Additionally, the UAE led 113 global indicators, including employment rate, absence of bureaucracy, availability of global expertise, digital transformation in companies, venture capital, inbound mobility of higher education students, public-private partnerships, energy infrastructure, and female parliamentary representation. Cabinet approves housing grants The Cabinet approved housing grants for over 1,838 citizens in the first half of the current year, totaling AED 1.2 billion. This initiative aims to ensure decent housing and enhance family stability across the UAE. Emirates Council for Balanced Development initiatives The Cabinet reviewed the results and activities of the Emirates Council for Balanced Development, chaired by Sheikh Theyab bin Mohamed bin Zayed Al Nahyan. The Council continues to implement projects and forge national partnerships to develop Emirati villages economically, socially, and as tourist destinations. Its initiatives have created meaningful opportunities for families, young talent, and small business owners, ensuring that every part of the UAE benefits from the nation's developmental momentum. Digital Identity implementation The Cabinet reviewed the results of Digital Identity implementation in government transactions, which now has over 11 million registered users and has recorded more than 600 million logins. The unified integrated digital ecosystem for government services connects over 130 government entities and private sector organizations, facilitating 2.6 billion digital transactions efficiently, accurately, and swiftly. Anti-Money Laundering and Terrorism Financing measures The Cabinet approved the restructuring of the Higher Committee Overseeing the National Strategy on Anti-Money Laundering and Countering the Financing of Terrorism under the chairmanship of Sheikh Abdullah bin Zayed Al Nahyan. The Committee has made strides in advancing national policies and strengthening measures to combat money laundering and terrorism financing across the country. It will continue its work to ensure the UAE remains a global leader in combating these issues. Establishment of National Maritime Navigation Centre The Cabinet approved the establishment of the National Maritime Navigation Centre under the Ministry of Energy and Infrastructure. The new center will manage and operate the Integrated National Maritime System for monitoring maritime traffic, oversee the National Maritime Single Window, and enhance the safety and security of the maritime sector. It will also activate and develop mechanisms to prevent harmful practices, protect the UAE's marine life, and advance the sector through conducting scientific research and studies. Free trade agreements and foreign Trade growth The Cabinet approved the 2024 Annual Report of the Higher Commission for Free Trade Negotiations, highlighting the signing and conclusion of 27 Comprehensive Economic Partnership Agreements (CEPA) with strategic global economies, 8 of which have already come into force. These agreements have driven the UAE's foreign trade volume to an unprecedented AED 5.23 trillion in 2024. The UAE's non-oil exports reached a historic milestone, exceeding AED 440 billion in 2023, marking a 16.3% growth compared to 2022 and a remarkable 83% increase from 2019. Re-exports also reached a record AED 684.3 billion, with a 6.3% growth compared to 2022. Additionally, the UAE attracted AED 113 billion in foreign direct investments (FDI) in 2023, reinforcing its position as a global trade hub. Cultural and community development projects The Cabinet reviewed the year 2024 achievements of the Emirates Council for Balanced Development, chaired by H.H. Sheikh Theyab bin Mohamed bin Zayed Al Nahyan. Highlights included the completion of major projects in Qidfa, such as the waterfront development, Palm Walk, and cycling tracks. Strategic projects were also initiated in Masfout, including Marble Park, a Ladies' Club, Friday Market, and restoration of Al Sharia and Al Falaj areas as cultural landmarks. The first phase of the Al Sila' Waterfront development project exceeded an 87% completion rate, while plans for Al Rams included several initiatives, such as building a community council, developing the marina and corniche, and advancing ecotourism plans. "Jothoor" initiative empowering female artisans The Council launched the "UAE Villages Councils" programme, creating ten integrated community councils and distinct digital branding for each village under the initiative "Jothoor" (Roots) to empower female artisans in the UAE. Several cultural festivals and local market initiatives were organized, attracting over 206,000 visitors, supporting 171 families, and engaging 790 volunteers. "Make it in the Emirates" platform success The Cabinet reviewed the achievements of the fourth edition of the "Make it in the Emirates" platform (2025). This initiative attracted over 122,000 visitors and participants, facilitated AED 168 billion in potential procurement agreements to localize the manufacturing of 4,800 products. Agreements worth AED 11 billion were signed for industrial projects, alongside AED 40 billion in financing solutions over five years to support SMEs. A new category, the "UAE Traditional Crafts," was introduced to recognize individuals and organizations excelling in traditional Emirati crafts. Sheikh Zayed Housing Programme The Cabinet reviewed a report on the Sheikh Zayed Housing Programme, which highlighted the federal government housing decisions issued during the first half of 2025. The total number of decisions issued during that period reached 1,838, with a total value exceeding AED 1.25 billion. Cultural heritage law and environmental initiatives The Cabinet approved drafting a federal law to safeguard the UAE's cultural heritage. The law will enhance awareness, support intangible heritage, and align national efforts with international best practices. The Cabinet also restructured the UAE Council for Climate Action to oversee the implementation of the UAE's Net Zero 2050 strategy and promote carbon market systems. The UAE added nine sites to the global list of biodiversity hotspots and launched a roadmap to plant 100 million mangrove trees by 2030. Protected areas were expanded by an 18% increase for mainland reserves and a 12% increase for marine reserves. International agreements and diplomatic engagements The Cabinet approved the ratification of 13 international agreements and protocols, including partnerships with Montenegro on tourism, real estate, and economic cooperation; Vietnam on a comprehensive economic partnership; Uganda on mutual visa exemptions; and New Zealand on investment promotion. Agreements were also signed with Eswatini, the Central African Republic, Kenya, Peru, Nigeria, and Jordan. Additionally, the Cabinet approved the negotiation and signing of 36 international agreements and memoranda of understanding, including agreements with Hong Kong on legal assistance, Montenegro on energy cooperation, and the Eurasian Economic Union on economic partnerships. Expansion of diplomatic presence New embassies will be established in Togo, Gabon, Cameroon, and Tajikistan, alongside a UAE Consulate General in Miami, USA. Participation in international events The Cabinet endorsed the UAE's participation in 13 international events in countries such as Malaysia and Ethiopia. The UAE will also host key summits, including the Annual Summit of the Central Banks Data Cooperation Group. Accession to international organisations Additionally, the Cabinet approved the UAE's accession to the International Competition Network, the OECD Forum on Tax Administration, and the Svalbard Treaty, alongside participation in the International Legal Forum in St. Petersburg.
