Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, has announced a scholarship fund for Emirati students worth Dh1.1 billion ($299.5 million).
Sheikh Hamdan said the move would empower the next generation of local talent.
"In line with the Dubai Social Agenda 33’s goal to empower the next generation of local talent, we have announced a Dh1.1 billion scholarship programme focused on supporting outstanding Emirati high school graduates," Sheikh Hamdan said on X.
"The programme will grant scholarships to 100 of Dubai's best-performing Emirati students, annually.
"Strengthening the abilities of our youth is essential to fulfilling our future vision of a knowledge-based economy. By investing in Dubai's youth today, we are paving the way for a prosperous and successful tomorrow."
One of the primary objectives of the scheme is for the number of Emiratis employed in the private sector to increase by three times the current rate.
Another driving force behind the project is to support Dubai's top-performing Emirati students with opportunities at "best-in-class academic institutions".
The announcement is the latest in a series of projects lined up for 2024, under the Dubai Social Agenda 33.
Last week it was announced that 3,500 plots of land would be distributed among Dubai’s citizens, as well as 2,300 ready-to-move-in houses valued at Dh5.5 billion.
Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, approved the project, also under the umbrella of the Dubai Social Agenda 33.
