DUBAI: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE, and Ruler of Dubai, chaired the UAE Cabinet meeting at Qasr Al Watan in Abu Dhabi yesterday.
The meeting saw the approval of the National Investment Strategy 2031 and the National Policy for Combating Health Risks, along with several other strategic initiatives aimed at strengthening the country’s economic, healthcare, and social sectors.
National Investment Strategy 2031
The UAE Cabinet approved the National Investment Strategy 2031, which aims to position the country as a leading global investment hub. The strategy targets an increase in annual foreign direct investment (FDI) inflows from Dh112 billion in 2023 to Dh240 billion by 2031. Additionally, the UAE aims to grow its total foreign investment stock from Dh800 billion to Dh2.2 trillion.
His Highness Sheikh Mohammed bin Rashid Al Maktoum stated that the strategy will focus on five priority sectors: industry, logistics, financial services, renewable energy, and information technology. The UAE continues to enhance its global economic position, expanding market access and fostering an investor-friendly environment.
The strategy includes 12 new programmes and 30 initiatives designed to boost investment in targeted industries. Notable initiatives include the Financial Sector Development Programme, the One-Market Programme, and "InvestUAE," a platform to streamline investment processes. The UAE seeks to increase FDI’s contribution to GDP to 8% and ensure foreign investments account for over 30% of total domestic and foreign investments.
Expanding trade with Africa
The Cabinet also reviewed the progress of the UAE’s strategic economic partnerships with African nations. Over the past five years, total trade volume with Sub-Saharan Africa has surged by 87%, rising from Dh126.7 billion in 2019 to Dh235 billion. His Highness Sheikh Mohammed bin Rashid Al Maktoum reaffirmed the UAE’s commitment to strengthening global trade relations and enhancing its role as a bridge between international markets.
Advancing the Digital Economy
As part of the meeting, the UAE Cabinet assessed the National Digital Economy Strategy. The initiative seeks to double the digital economy’s contribution to GDP from 9.7% to 19.4% by 2031. The strategy includes policies to enhance digital infrastructure, artificial intelligence adoption, and the integration of cutting-edge technologies across industries.
National Policy for Combating Health Risks
The Cabinet approved a comprehensive National Policy for Combating Health Risks, designed to enhance the UAE’s preparedness for public health crises and emergencies. The policy establishes response scenarios, recovery plans, and control measures to strengthen health security.
His Highness Sheikh Mohammed bin Rashid Al Maktoum emphasised the importance of continuous readiness for health emergencies, ensuring the UAE remains at the forefront of global healthcare standards. The policy aligns with national efforts to improve healthcare resilience and protect public well-being.
Additionally, the Cabinet approved Executive Regulations for Organ and Human Tissue Donation and Transplantation. The UAE now has over 13 licensed transplant centres, with a 30% increase in transplant procedures. Kidney, liver, heart, lung, and pancreas transplants are being successfully performed, reinforcing the country’s commitment to world-class healthcare services.
Research and development priorities
The restructuring of the Emirates Research and Development Council was also approved, with His Highness Sheikh Abdullah bin Zayed Al Nahyan as chairman. The council will set national research priorities, develop policies, and strengthen collaboration between government entities, the private sector, and academic institutions.
Social Support and Empowerment initiatives
The Cabinet approved new measures to enhance social support and empowerment, increasing the annual budget for social support programmes by 29% to nearly Dh3.5 billion. The number of beneficiaries has risen by 37%, with 3,200 individuals successfully transitioning from financial aid recipients to active members of the workforce.
Green Initiatives and Industrial innovation
The UAE Cabinet introduced the National Green Certificates Programme for sustainable buildings. Initially non-compulsory, the programme will assess commercial buildings, hotels, industrial facilities, and government properties for adherence to environmental standards.
The Cabinet also reviewed the outcomes of the Industrial Technology Transformation Programme, including the launch of the Industrial Technology Transformation Index (ITTI), a first-of-its-kind tool measuring technological advancement and sustainability in factories.
Remote Work and Global Talent integration
In a bid to harness global expertise, the Cabinet approved the Remote Work System from Outside the Country for the Federal Government. This initiative will allow UAE government entities to tap into international talent pools for specialised projects and research.
International agreements and Economic partnerships
The UAE Cabinet ratified 28 international agreements, including Comprehensive Economic Partnership Agreements with Malaysia, New Zealand, and Kenya. Additional agreements covering security, logistics, and governmental cooperation were also approved.
His Highness Sheikh Mohammed bin Rashid Al Maktoum reiterated the UAE’s commitment to accelerating economic growth and reinforcing its position as a global business hub. "Our teams continue their work, our growth trajectory accelerates, and every day, we witness our nation’s future becoming greater, stronger, and more prosperous," he stated.
The Cabinet’s latest decisions mark another step in the UAE’s ambitious journey towards economic expansion, technological innovation, and enhanced social and healthcare policies, ensuring long-term prosperity and global competitiveness.