UAE Cabinet Reviews Economic Progress and Legislative Updates in Abu Dhabi Meeting

UAE, 3 September, 2024 : The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, convened at Qasr Al Watan, Abu Dhabi, to review progress on the nation's economic and investment legislative framework. Attendees included key leaders such as His Highness Sheikh Mansour bin Zayed Al Nahyan, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, and Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum.

Sheikh Mohammed bin Rashid highlighted substantial achievements, noting that the number of registered companies in the UAE surged by 152% to over 1 million since mid-2020. The UAE's economy has seen accelerated growth, ranking fifth globally in real GDP growth, with foreign direct investments reaching AED112 billion in 2023.

The Cabinet approved the UAE’s National AML/CFT/CPF Strategy for 2024-2027 and the restructuring of the Higher Commission Free Trade Negotiations. It also reviewed the consolidated government financial statistics for 2023, with expenditures totaling AED402 billion.

Further discussions included preparations for the UAE Government Annual Meetings, scheduled for November 5-6, 2024, focusing on family, national identity, and artificial intelligence. The Cabinet also addressed updates on non-oil exports, legislative reforms, and the hosting of international events.

Source : www.zawya.com