UAE Cabinet Approves 2024 Development Plan with Focus on Sustainability

The UAE Cabinet, in its inaugural meeting of 2024, approved the comprehensive 2024 plan outlined by President Sheikh Mohamed on Union Day. This strategic plan is poised to focus on implementing national priorities across various sectors, emphasizing sustainability in line with the vision of the UAE’s Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan, as revealed at Expo City Dubai in December.

Prime Minister and Ruler of Dubai, Sheikh Mohammed bin Rashid, expressed his anticipation for 2024, foreseeing it as a “new milestone for even greater developmental achievements.” In a post on X (formerly Twitter), Sheikh Mohammed provided insights into the accomplishments of the UAE in 2023, as acknowledged and commended by the Cabinet during the meeting held at the Presidential Palace.

The Zayed Housing Programme took center stage, witnessing over 4,300 housing decisions with a cumulative value of Dh3.2 billion. The citizens’ home ownership rate across various housing programs reached an impressive 90%, solidifying the UAE’s position as having the second-highest home ownership rate globally.

The Nafis Programme, a successful initiative for Emiratisation, saw 92,000 Emiratis joining the private sector since its launch in September 2021. Sheikh Mohammed affirmed the continued priority of Emiratisation, with plans for enhancing labor market efficiency through initiatives like the Emirates Labour Market Award and the Optional Alternative Voluntary End of Service System.

Economic achievements were highlighted, with the UAE’s non-oil GDP experiencing a growth rate of 5.9% in the first nine months of 2023. The country secured the top spot globally in over 215 developmental, economic, and human indicators according to international reports. The hospitality sector, witnessing an 11.6% growth, attributed its success to the increasing number of visitors and international events hosted by the UAE.

Acknowledging the success of the National Legislative Plan for 2023, Sheikh Mohammed emphasized that it marked the most legislatively active year in the history of the country. A total of 73 federal laws were issued, including 10 introduced for the first time within the legislative framework, with the participation of 1,500 specialists and 50 government teams. The Cabinet also approved 60 national policies and strategies along with 62 international agreements.

Updates on the GCC joint economic work from 2022 were reviewed, revealing a total trade exchange value of Dh287 billion between the UAE and GCC countries. UAE exports to Gulf countries reached Dh80 billion, marking a 12% increase compared to 2021, while imports grew to Dh70 billion, a 25% rise from the previous year.

Sheikh Mohammed praised President Sheikh Mohamed for his leadership, highlighting the success of hosting the Cop28 climate conference in Dubai and the achievements of the Mohammed bin Rashid Space Centre’s space mission.

The Cabinet further approved key agreements, including boosting security and combating terrorism with the Republic of Albania, collaborating with Kazakhstan to build a wind power plant, and partnering with the International Telecommunication Union to ensure a secure cyber environment through the UAE Cybersecurity Council.

In addition, the UAE is set to host three significant events, including the Second Gulf Metrology Forum, the thirteenth session of the Annual Investment Meeting, and the sixth Applied Linguistics and Language Teaching International Conference and Exhibition.

As Sheikh Mohammed reflects on the exceptional year of 2023 under the leadership of his brother, Mohamed bin Zayed, he anticipates 2024 as a new milestone for even greater developmental achievements, promising a stronger momentum across all sectors.