Ministerial retreat for local government and economists to discuss UAE’s economy beyond oil
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, highlighted that the UAE is steadily moving towards meeting the people’s aspirations under the leadership of the President His Highness Sheikh Khalifa bin Zayed Al Nahyan.
UAE has progressed immensely over the past decade in many of the essential sectors; however it is imperative that future planning and readiness is exercised by not only the government but also the people. Both parties need to share responsibility in order conceptualise the country’s future.
The UAE government is now constructing a plan and a roadmap for the future of the UAE. Sheikh Mohammed announced this as he mentioned that a new ministerial retreat this month for ministers and officials in UAE federal and local government entities as well as a number of economists. The reason behind the ministerial retreat is to allow local governments and economists to embark on a thorough national programme that will help them create a vision that will help the government achieve sustainable income that isn’t reliant on oil. The Ministerial Retreat will deliberate and find solutions through workshops and brainstorming sessions that help boost the economy of the UAE and plan out future scenarios in different and new sectors
As 70 per cent of the country’s GDP is independent from oil, the main objective is to continuously investigate the economy of the country in order to come up with solutions that don’t revolve around oil or are resistant to market fluctuations.
Sheikh Mohammed added that it is important that future generations are capable and prepared to lead a maintainable, adjusted national economy.