During the meeting, Sheikh Mohammed bin Rashid said, "The UAE will keep attracting global talents, the key driving force to our economy. We will support the private sector to achieve balance in our job market and our fast-growing economy will keep providing millions of opportunities for Emiratis and residents." "Human capital is the fuel of nations. Uniting efforts of our national cadres and foreign talents will accelerate our journey towards the future," His Highness added.
During the meeting, the cabinet also approved the amendment of the Federal Bankruptcy Law and approved hosting the World Conference on Creative Economy as part of Expo 2020 Dubai.
According to the UAE Cabinet, the ten resolutions that support Emiratisation in ministries, federal entities, federal and local government and semi-government organizations among other economic sectors include: 1. Issuing regulations and setting new targets to provide 20,000 job opportunities for Emiratis in strategic sectors including civil aviation, telecommunications, banking, insurance and real estate development sectors over the next three years, with an average of 6,700 jobs annually. Following an extensive plan, Emirati employees shall be integrated in positions that meet their skills and expertise in vital sectors.
2. Allocating an AED300 million fund to create specialised training programmes that prepare and empower Emirati jobseekers with theoretical and applied skills to enhance performance in all sectors. The programmes will contribute to nurturing necessary skills and empowering Emiratis to offer an added value to the private sector, which plays an integral role in the country’s development.
3. Adopting a new system to train 8,000 Emiratis graduates annually in government, semi-government and private entities for 6-12 months with an AED10,000 salary, 40 percent of which will be covered by the government.
4. Launching specialised diplomas across Higher Colleges of Technology in the UAE to prepare and train Emiratis for the workplace. Training programmes will be designed to build and develop 18,000 national cadres over the next three years.
5. Allocating a portion of VAT revenues, on the federal and local level, to creating graduate development programmes that empower and build new skills.
6. Opening up job opportunities for Emiratis in administrative and supervisory roles across ministries and federal entities, ensuring the selection of suitable candidates with the necessary skills and capabilities to fulfil their roles.
7. Amending labour and pension laws to equalise pensions and benefits for Emirati employees in the government, semi-government and private sectors. The amendment will unify the mechanism in calculating pensions, benefits and previous service additions in government and private sector to encourage Emirati employees to expand their career options in the private sector to gain new skills.
8. Forming a committee that includes the Ministry of Human Resources and Emiratisation, the Federal Authority for Government Human Resources, the Federal Authority for Identity and Citizenship, the General Pension and Social Security Authority and Abu Dhabi Retirement Pensions and Benefits Fund to develop mechanisms that encourage and monitor national employment across UAE companies.
9. Entities and companies in the strategic sectors with low number of Emirati employees will be encouraged to support national skill development programmes.
10. Setting an annual index to measure Emiratisation across all sectors. The government will provide exceptional incentives to entities that facilitate job opportunities for nationals. The Cabinet shall hold an annual ceremony to reward CEOs and entrepreneurs who support Emiratisation.
The Cabinet has assigned the Ministry of Human Resources and Emiratisation the task to implement the ten resolutions, in coordination with the executive councils. The Cabinet will receive quarterly reports to follow up the progress.
The UAE Cabinet also approved the amendment of the Federal Law by Decree No. 09 of 2016 on Bankruptcy to restructure financial regulations related to bankruptcy. It also approved the amendment of Federal Law No. 20 of 2016 concerning mortgaging of movable properties as security for debts to enhance government competitiveness on a global scale, attract more investments in the country and support economy across different sectors.
Hosting the World Conference on Creative Economy as part of Expo 2020 Dubai, was also approved during the Cabinet meeting. The conference is expected to attract local and global entities, private sector, entrepreneurs, authors and scholars to discuss ways to improve creative economy.
The Cabinet adopted the 'Procedural Guide to the Recommendations of the Federal National Council'. The guide that identifies the roles and responsibilities of the Ministry of State for Federal National Council Affairs and other relevant entities. Also approved was the reformation of Committee for Goods and Materials Subjected to Import and Export and the Board of Directors of Emirates Transport, along with the 2018 closing account of Emirates General Petroleum Corporation
, Emarat, and the closing account of Al Etihad Credit Bureau and the General Secretariat of the Cabinet. On the international affairs level, the Cabinet adopted a number of agreements including a UAE-Zimbabwe agreement to encourage and protect mutual investments. Another agreement aims to prevent tax duplication and evasion. The UAE government also signed an economic cooperation agreement with Kenya.
© Copyright Emirates News Agency (WAM) 2019.