Sunday’s UAE Cabinet meeting was presided over by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. The Cabinet approved a new law strengthening collaboration between the public and private sectors during the meeting.
The UAE Cabinet meeting was presided over by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, in Qasr Al Watan in Abu Dhabi. “We agreed on a new law boosting cooperation between the public and private sectors during the Cabinet meeting.” The law intends to coordinate collaboration between the two sectors, encourage private sector involvement in strategic and development projects, and boost investment in initiatives with broad economic and social impact. Additionally, it strives to increase projects’ ability to compete in the local, regional, and international markets.
The first electric cargo aircraft in the area also received temporary licensing approval from the government. Sheikh Mohammed wrote on Twitter, “In the Council of Ministers, we approved the temporary license for the first cargo plane in the region that operates entirely on clean electric energy and without any emissions. This is a significant step that may help change the future of the shipping sector and its environmental impacts.” In comparison to 121 measures in 2020, the UAE placed first in 156 worldwide indicators for the year 2022, according to a review of national accomplishments by the Cabinet. Additionally, this year, 288 global indices have the UAE among the top five, compared to 189 in 2020. The UAE has been ranked in the top 10 in the world on 432 measures, up from 314 in 2020.
According to Sheikh Mohammed, the nation’s commercial and development sectors have grown faster than they did before the outbreak. “The UAE now leads 156 different worldwide indices, up from 121 previously. In 432 global metrics, we were in the top 10, up from 314 before the epidemic. He said, “This year’s economic growth topped 22 percent, and the UAE’s foreign trade exceeded Dhs1 trillion, compared to Dhs840 billion before the pandemic.
In the first half of 2022, the nation’s tourist industry saw an increase in its economic contribution of 12%. Compared to 6.2% prior to the Covid-19 epidemic, there were 12 million more hotel guests in establishments, a 42% increase. During the first half of 2022, the sector’s total revenues were more than Dhs19 billion. Only 1.2 million passengers separated Dubai International (DXB) in the first half of the year from the airport’s entire annual traffic in 2016.
