DUBAI // Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, on Monday announced the largest structural shake-up in the federal Government since the country was founded.
In an unprecedented three-hour social-media event during the World Government Summit, Sheikh Mohammed said ministries would be consolidated and new entities established in health and education.
He also signalled a plan to outsource “most government services” to the private sector.
› See all the announced changes here: Changes to federal government, as announced by Sheikh Mohammed bin Rashid
“Governments must be flexible. We don’t need more ministries, but more ministers capable of dealing with change,” said Sheikh Mohammed.
“We want a young and flexible government that will fulfil our youth’s aspirations and achieve our people’s ambitions.”
Posts have been created, meaning the Government now has fewer ministries but more ministers handling strategic national issues.
New positions include a Minister of State for Happiness, who will have the responsibility to “align and drive government policy to create social good and satisfaction”, and a Minister of State for Tolerance, who will “instil tolerance as a fundamental value in UAE society”.
“We want a government that works on building the skills of its people, aside from providing services ... a government focused on putting the happiness of citizens at the forefront of its priorities,” Sheikh Mohammed said.
“We need a government whose essence is human and family, education and aspirations to build their future.
“We need a government with its purpose to build a virtuous society, a forgiving environment, close families, educated generations and equal economic opportunities for all.”
Further to an earlier announcement about a young person on the Cabinet, Sheikh Mohammed announced a UAE Youth National Council would be set up, comprising young men and women who will serve as advisers to the Government on youth issues.
It will be led by a female Minister of State for Youth who will be no older than 22.
The Ministry of Cabinet Affairs has been specifically given the task of devising plans “preparing the country for a post-oil future”, and will be called the Ministry of Cabinet Affairs and the Future.
For education, an independent foundation will be set up to manage public schools, run by a board of directors that will report to the Government about the national education agenda.
“Public schools will enjoy a great level of power and independence,” said Sheikh Mohammed.
The ministries of Higher Education and Education will be combined under one minister, with two supporting ministers of state.
The ministry will be responsible for monitoring all stages of education, from nurseries to universities.
A greater focus on disease prevention is reflected in a renaming and restructuring of the Ministry of Health, while an independent entity will be created to oversee and manage public hospitals.
In foreign affairs, the Ministry of International Cooperation and Development will merge with the Ministry of Foreign Affairs, which will now deal with UAE foreign aid.
Two ministers of state will be given the responsibility of overseeing foreign aid and improving international relations.
The Ministry of Labour will be renamed the Ministry of Human Resources and Emiratisation, and will now incorporate Tanmia, the national human resources and employment authority.
The Ministry of Social Affairs will become the Ministry of Community Development, focusing on Emirati families and community issues, and be integrated with the Marriage Fund.
The Government will also have a Ministry of Climate Change and Environment, whose purpose will be to develop and monitor programmes and legislation to preserve a clean environment for the next generation of Emiratis.
Meanwhile, the National Council of Tourism and Antiquities will now be connected with the Ministry of Economy, which will set national targets to boost the gross national product.
A UAE Council of Scientists to review national policies related to science, technology and innovation will be created, while the newly named Ministry of Culture and Knowledge will focus on areas such as protecting the Arabic language and increasing knowledge in general.
The changes come ahead of anticipated challenges, Sheikh Mohammed said.
Sheikh Mohammed said the past decade had been one of establishing strategies and systems, and “the next decade will be a confident leap into the future with all its challenges, competitiveness and variables”.
newsdesk@thenational.ae
How to apply for a drone permit
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What are the regulations?
- Fly it within visual line of sight
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Killing of Qassem Suleimani
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
The Saga Continues
Wu-Tang Clan
(36 Chambers / Entertainment One)
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
UAE currency: the story behind the money in your pockets
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Killing of Qassem Suleimani
The specs
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Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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RESULT
Valencia 3
Kevin Gameiro 21', 51'
Ferran Torres 67'
Atlanta 4
Josip Llicic 3' (P), 43' (P), 71', 82'
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UAE currency: the story behind the money in your pockets
New process leads to panic among jobseekers
As a UAE-based travel agent who processes tourist visas from the Philippines, Jennifer Pacia Gado is fielding a lot of calls from concerned travellers just now. And they are all asking the same question.
“My clients are mostly Filipinos, and they [all want to know] about good conduct certificates,” says the 34-year-old Filipina, who has lived in the UAE for five years.
Ms Gado contacted the Philippines Embassy to get more information on the certificate so she can share it with her clients. She says many are worried about the process and associated costs – which could be as high as Dh500 to obtain and attest a good conduct certificate from the Philippines for jobseekers already living in the UAE.
“They are worried about this because when they arrive here without the NBI [National Bureau of Investigation] clearance, it is a hassle because it takes time,” she says.
“They need to go first to the embassy to apply for the application of the NBI clearance. After that they have go to the police station [in the UAE] for the fingerprints. And then they will apply for the special power of attorney so that someone can finish the process in the Philippines. So it is a long process and more expensive if you are doing it from here.”
