UAE Projects of the 50: Second set of plans to be revealed on Sunday

Ministers and top government officials will be announcing the second batch of plans under the UAE’s ‘Projects of the 50’ tomorrow, September 12.

The announcement will be made at the Qasr Al Watan Presidential Palace in Abu Dhabi at 9.30am, the UAE Government Media Office said in a statement on Saturday.

The first 13 out of the 50 grand projects last week revealed progressive reforms for residential visas and several economic programmes that will bolster the country’s growth.

“The second package of the 50 projects will be a new integrated set of targeted initiatives developed by the UAE Government to support its national strategies and build a sustainable future for its society and economy for the next 50 years,” said the Press release.

The projects will enhance the UAE’s regional and global position across all sectors, raise human competitiveness, and will ensure a decent life for its people and the future generations.

The ‘Projects of the 50’ was unveiled by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, earlier this month to establish a comprehensive development cycle leading to UAE Centennial 2071.

All 50 projects will be announced in separate events throughout the month of September.

Here’s a recap of the first 13 projects that were announced on September 5:

Project 5bn: Emirates Development Bank will allocate Dh5 billion to support Emirati projects in new key sectors and achieve economic diversification.

Green Visa: The new visa scheme will distinguish work permits from residency, enabling self-sponsorship for highly skilled individuals, investors, entrepreneurs, top students and graduates. Green Visa includes many other advantages.

Freelancer Visa: The first federal visa scheme of its kind for self-employed workers (freelancers).

Tech Drive: A Dh5-billion fund will be earmarked to support the advanced technology adoption in the industrial sector over the next five years.

100 Coders Every Day: An initiative to attract 3,000 coders to the UAE’s workforce every month, increasing the number of coders to 100,000 in 12 months, and facilitating the establishment of programming companies in the UAE through incentives and benefits.

UAE Data Law: This will empower individuals to control how their personal data is used, stored and shared in a move that aims to protect their privacy and that of entities.

PyCon MEA: The biggest programming summit in the Middle East, to be held in the second half of 2022, aims to connect coders with the public and private sector, as well as academic institutions, and develop digital talents and creative programming projects.

10x10: A programme that aims to achieve a 10 per cent annual increase in UAE exports to 10 key global markets.

Fourth Industrial Revolution Network: The network aims to establish and grow 500 national companies deploying advanced technologies over the next five years.

Global Economic Partnerships: The UAE is undertaking comprehensive economic agreements with eight strategic global markets to achieve a Dh40 billion annual increase to the UAE’s current Dh257 billion trade volume with these markets. The Higher Committee for Economic Agreements has also been established.

Invest.ae: A unified electronic portal that brings together investment-related local entities and 14 economic entities, presenting investment opportunities across the UAE. The online portal will provide business and bank account set-up services.

In-country Value: A programme to redirect 42 per cent of procurement of the federal government and major UAE companies to local products and services. The programme aims to increase local suppliers to 7,300 and boost procurement value from Dh33 billion to Dh55 billion over the next four years.

Emirates Investment Summit: The summit, to be held in the first quarter of 2022, will connect investment funds with the public and private sectors to create investment opportunities that can attract Dh550 billion inward FDI to the UAE over the next nine years.