Sheikh Mohammed bin Rashid, Prime Minister, Vice President and Ruler of Dubai, reflects on 17 years of UAE milestones.
Sheikh Mohammed bin Rashid, Prime Minister, Vice President and Ruler of Dubai, reflects on 17 years of UAE milestones.
Sheikh Mohammed bin Rashid, Prime Minister, Vice President and Ruler of Dubai, reflects on 17 years of UAE milestones.
Sheikh Mohammed bin Rashid, Prime Minister, Vice President and Ruler of Dubai, reflects on 17 years of UAE milestones.

UAE government achieved impressive milestones over 17 years, says PM


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Sheikh Mohammed bin Rashid, Prime Minister and Ruler of Dubai, has hailed the achievements of the UAE's Cabinet and federal government over the past 17 years, saying the country will continue on its path of development.

Sheikh Mohammed highlighted important milestones since 2006, including thousands of pieces of legislation in social, economic, service and other sectors, creating government services and signing international agreements.

“Seventeen years have passed quickly and beautifully, and were full of work and achievements," he said. "We introduced essential changes to the UAE government's performance and developed services.

“Ten thousand decisions in 440 meetings. Over 4,200 legislation in all sectors. We shifted from a traditional government to a new government providing over 1,500 smart services.

"We fought administrative and financial slowness, increased the government budget by more than 140 per cent, and became the most effective government in public spending in the world.

“We launched 330 government policies and initiatives to develop the economic environment and signed about 600 international agreements.

"Our foreign trade jumped from Dh415 billion to Dh2,200 billion, and the GDP doubled to reach Dh1,800 billion in the same period.

"The UAE is the first in the region to attract investments with a value of Dh734 billion."

UAE in space

Emirati astronaut, Sultan Al Neyadi, will be the first Arab to conduct a spacewalk later this month.
Emirati astronaut, Sultan Al Neyadi, will be the first Arab to conduct a spacewalk later this month.

Sheikh Mohammed also praised the creation of an integrated space sector in 10 years, attracting more than Dh734 billion in investments to the country.

The UAE has heavily invested in its space sector, with a 10-year plan worth Dh36 billion and the launch of the National Space Fund.

The country now owns 19 orbital satellites, has 10 new spacecraft under development, and hosts more than 50 international and emerging space companies and centres.

Significant milestones include becoming the first Arab country to reach Mars in February 2021 and planning a new interplanetary mission to Venus and the asteroid belt beyond Mars in 2028.

The country has also launched a lunar rover called Rashid, which is set to land on unexplored regions of the Moon this month or next, depending on conditions.

The UAE Astronaut Programme aims to develop a national team of astronauts for scientific and manned space exploration missions.

The "Hope Probe" was launched in July 2020 and reached Mars in early 2021, marking the first Arab space mission to explore planets.

Economic strides

Sheikh Mohammed, also Vice President, said the government launched 330 policies and initiatives to develop the economic environment.

He said the UAE government became the most effective in public spending globally, and has been successful in many ministerial reshuffles involving more than 66 ministers to encourage youth to take on responsibility.

"Today, with the endless support of my brother, President His Highness Sheikh Mohamed bin Zayed Al Nahyan, and with the spirit of union and the ambitions of youth, the UAE will continue its march of prosperity and development,” Sheikh Mohammed said.

Social development programmes have received more than Dh110 billion of total government spending, while the government has allocated more than Dh50 billion to housing for citizens, and spent almost Dh160 billion on the education sector.

In that time the Cabinet has also issued policies and laws to stimulate and regulate the labour market.

Major initiatives

These government models have also played a significant role in promoting innovation, sustainability and preparing the country for the next 50 years.

In April 2007, the UAE government announced its strategy for the years 2008-2010.

Then in 2008, it launched the UAE leadership programme, which has since had more than 1,000 leaders graduate in more than 10 years.

The year 2009 saw the launch of the Sheikh Khalifa Government Excellence Programme, which became the first integrated government excellence scheme at the federal government level.

In 2010, the UAE Vision 2021 was launched, and more than 36 national teams from 150 federal and local entities, private sector institutions and the community took part in its implementation.

This vision aimed to transform the UAE into a diversified and knowledge-based economy, with a focus on promoting innovation, sustainability, and preparing the country for the future.

The Emirates Programme for Excellence in Government Services was launched in March 2011, with the objective of achieving higher standards in client service by improving efficiency.

In 2012, the Mohammed bin Rashid Smart Learning Programme was launched to establish a unique environment in schools through the introduction of "smart classes", under which pupils use smart devices and high-speed 4G networks to acquire knowledge.

The same year witnessed the launch of the UAE Green Growth Strategy, a long-term national initiative to develop a green economy in the country.

Under the leadership of Sheikh Mohammed, the World Government Summit was established in 2013, as a global knowledge exchange platform for future governments.

The UAE National Agenda 2021 was launched in 2014, aiming to achieve a sustainable and diversified economy, with a focus on promoting innovation, sustainability and preparing the country for the future.

The UAE successfully hosted a world Expo during a pandemic. Ruel Pableo for The National
The UAE successfully hosted a world Expo during a pandemic. Ruel Pableo for The National

In 2015, the Arab Reading Challenge was launched, to encourage all pupils across the Arab World to read.

In 2016 the UAE launched the Emirates Youth Councils, the Centre For the Fourth Industrial Revolution and Dubai Future Councils.

The UAE government's Annual Meetings were launched in 2017, with the aim of unifying all government entities at the federal and local levels to discuss current challenges, strategies and initiatives that would lead the country to achieve the Centennial 2071 Plan.

In 2018, the strategic partnership for government modernisation was launched, aiming, among other things, to foster a culture of innovation.

The UAE launched the Regulations Lab in 2019 to develop solid legislation for emerging technologies, and the Arab Government Excellence Award to celebrate successful government experiences and projects in the region.

In 2020, the UAE focused on preparing for the next 50 years and hosted Expo 2020 Dubai, while in 2021 it launched a new methodology for government action.

In 2022, the UAE launched the Comprehensive Economic Partnership Agreements and the "We the UAE 2031" vision to continue its development path with a focus on social, economic, investment and development aspects.

Tips for SMEs to cope
  • Adapt your business model. Make changes that are future-proof to the new normal
  • Make sure you have an online presence
  • Open communication with suppliers, especially if they are international. Look for local suppliers to avoid delivery delays
  • Open communication with customers to see how they are coping and be flexible about extending terms, etc
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Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

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UAE jiu-jitsu squad

Men: Hamad Nawad and Khalid Al Balushi (56kg), Omar Al Fadhli and Saeed Al Mazroui (62kg), Taleb Al Kirbi and Humaid Al Kaabi (69kg), Mohammed Al Qubaisi and Saud Al Hammadi (70kg), Khalfan Belhol and Mohammad Haitham Radhi (85kg), Faisal Al Ketbi and Zayed Al Kaabi (94kg)

Women: Wadima Al Yafei and Mahra Al Hanaei (49kg), Bashayer Al Matrooshi and Hessa Al Shamsi (62kg)

Updated: April 13, 2023, 5:27 AM