UAE launches major strategy to boost economy by Dh30 billion a year

Sheikh Mohammed bin Rashid sets out development drive at Cabinet meeting

Sheikh Mohammed bin Rashid, Vice President, Prime Minister and Ruler of Dubai, at the Cabinet meeting, with Sheikh Mansour bin Zayed, Vice President, Deputy Prime Minister and Chairman of the Presidential Court, and Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence. Photos: @HHShkMohd / X

The Cabinet approved measures including the updated National Plan to Reduce Aviation Sector Emissions, as part of the the UAE's environmental commitments.

Sheikh Mansour and Sheikh Hamdan at the Cabinet meeting at Qasr Al Watan.

Ministers endorsed and authorised the signing of 85 international agreements and approved the hosting of 12 specialised international events, Sheikh Mohhamed said.

Sheikh Nahyan bin Mubarak, Minister of Tolerance and Coexistence, Mohamed Al Hussaini, Minister of State for Financial Affairs, and Suhail Al Mazrouei, Minister of Energy and Infrastructure

The UAE on Wednesday announced the launch of the National Policy for Economic Clusters, with the goal of boosting the country's gross domestic product by more than Dh30 billion ($8.16 billion) a year.

The government strategy was announced by Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, as he led the latest meeting of the UAE Cabinet at Qasr Al Watan in Abu Dhabi. It was among a series of initiatives outlined at the meeting, with efforts to bolster cyber security also high on the agenda.

Sheikh Mohammed, who is also Vice President, said the new economic plan would seek to create "a cluster of industries, services and institutions" and support their growth on the global stage. It will focus on accelerating the development of financial services, tourism and hospitality, the space sector, telecoms and data analytics, and food.

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Key announcements:

• A national plan to boost the economy by Dh30 billion each year
• Policies aimed at bolstering cyber security
• The launch of a National Policy for Economic Clusters
• The Emirati Genome Project is progressing well with 750,000 samples now collected

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Under the plan, the UAE will look to increase foreign trade by Dh15 billion over the next seven years. The policy is designed to increase the competitiveness of the economy by establishing networks of interconnected industries and services across the country.

Cyber security measures

Ministers also adopted a package of national cyber security policies to protect information and improve public confidence in rapidly evolving digital systems.

The Cabinet approved a national policy for artificial intelligence; a national encryption policy; the national policy for data exchange security; the national policy for secure remote work; and the national policy for vulnerable disclosure.

During the meeting, ministers also approved an updated national plan to reduce emissions in the aviation sector, in support of the country's key environmental commitments.

Bolstering public health

Sheikh Mohammed also spoke of the continued progress of the Emirati Genome Programme, which aims to gather the genetic data of citizens to help deliver precision medical care to better combat disease. He said more than 750,000 genetic samples have now been collected from Emiratis, representing a rise of about 150,000 since June 2024.

The UAE wants to collect one million samples under the nationwide initiative to improve the long-term health of the nation.

Government gathering

The Cabinet also finalised the agenda for the UAE Government annual meetings, which will be held from November 4 to 6 in Abu Dhabi and will feature 500 key decision-makers and officials.

Sheikh Mohammed said this year's high-level talks will focus on education, health, family and national identity. The event will explore the future of the economy and AI.

The wide-ranging Cabinet meeting also saw the establishment of the Emirates Council for Integrative Medicine and the restructuring of the board of trustees of the Anwar Gargash Academy, the Emirates Council for Digital Economy, and the Entrepreneurship Council.