His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE and Ruler of Dubai, chaired the UAE Cabinet meeting at Qasr Al Watan, Abu Dhabi, in the presence of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of Presidential Court; H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance; and H.H. Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior.
Sheikh Mohammed bin Rashid Al Maktoum said, “Today, I chaired the Cabinet meeting at Qasr Al Watan, Abu Dhabi, where we adopted the reformation of the board of directors of the Emirates Investment Authority, chaired by my brother Sheikh Mansour bin Zayed Al Nahyan.”
His Highness noted, “During the meeting today, we approved 78 environmental projects and initiatives implemented by the UAE in preparation for hosting COP28... We also reviewed the results and the achievements of the Emirates Council for Food Security, which included the ‘Agriculture Innovation Mission for Climate’ initiative led by the UAE and the US.”
He further expressed, “We approved the UAE Service Export Development Agenda, which will focus on education, medical tourism, financial and Islamic services… The Ministry of Economy will work on strengthening international partnerships and developing programs to support the UAE exports in the international markets.”
His Highness added, “We reviewed during the meeting the UAE Foreign Trade Report 2022 where our non-oil foreign trade crossed the AED 2 trillion mark for the first time in history.”
His Highness said, “Today, we also approved the launching of DARAK, the new housing platform that provides citizens with solutions, and exclusive offers and banking facilities at all stages of construction.”
During the meeting, the Cabinet adopted the reformation of the board of directors of the Emirates Investment Authority (EIA), chaired by His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of Presidential Court.
UAE Roadmap in Preparation for COP28
The Cabinet approved a total of 78 environmental initiatives in preparation for hosting COP28 in the UAE. It includes national strategies to reduce carbon and regulate the use of solar energy products, sustainable tourism and other initiatives that support sustainable and environment-friendly development.
UAE Service Export Development Agenda
During the meeting, the Cabinet approved the UAE Service Export Development Agenda, which aims at raising production as well as increasing the competitiveness of Emirati exports in the international markets. The Agenda is set to contribute to strengthening the UAE’s position as a global service provider and enhancing its ranking among the best countries in Gross National Income (GNI) per capita.
The Agenda will focus on 5 main sectors, including Education; Medical Tourism; Islamic Financial Services; Creative Economy; and Financial Services, through focusing on the best markets in the world.
UAE Exports Development
The Cabinet reviewed the policies of developing the Emirati exports, through opening up to new global markets. The non-oil foreign trade reached unprecedented records as it crossed the AED 2 trillion mark for the first time in history and totaled AED 2.233 trillion in 2022, with a 17% growth from that of 2021.
DARAK Housing Platform
The Cabinet has approved the launching of the new housing platform “DARAK”, an integrated e-platform that provides a comprehensive system covering each stage of a house’s construction. DARAK is set to provide citizens with various services, exclusive offers and banking facilities at all stages of construction. The new platform will contribute to reducing the cost of construction and completing the construction process through a single point of contact.
2022 Achievements of Emirates Council for Food Security
The UAE Cabinet meeting reviewed the results and the achievements of the Emirates Council for Food Security (ECSF) for the year 2022. ECSF achievements included the “Agriculture Innovation Mission for Climate” initiative. Led by the UAE and the US, the initiative aims at enhancing and accelerating investments in this field, and finding agricultural, climate and food safety solutions.
New educational model for Higher Colleges of Technology
The Cabinet approved the new educational model for the Higher Colleges of Technology, which will come into effect at the beginning of the academic year 2023/2024. The New model aims at enhancing the contribution of Higher Colleges of Technology to leading an effective role within the workforce development system in the country.
Executive Regulation of Federal Law on Consumer Protection
The Cabinet has adopted the Executive Regulation of Federal Law on Consumer Protection, aiming to protect all consumer rights, especially those pertaining to the quality of goods and services.
The Cabinet has approved the Executive Regulation of the Federal Decree-Law regulating the Advocacy and Legal Consultancy Professions, translation and notary public. The meeting approved a new federal law regulating the Transfer and Transplant of Human Organs, in addition, to a number of decisions to expand the scope of companies and private sector organizations subject to Emiratization targets within NAFIS initiatives and programmes.
The meeting reviewed a series of reports and achievements for the year 2022, in addition to approving a number of international agreements with friendly countries, including the Kyrgyz Republic and the Government of the Commonwealth of Dominica.
Also, the meeting approved an agreement with the Islamic Development Bank regarding the establishment of the bank’s regional headquarter in the UAE, and the establishment of the UAE embassy in the Republic of Guinea in the city of Bissau, as well as the UAE’s candidacy for membership in the Executive Board of the United Nations Human Settlements Programme.