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Its purpose is to make the UAE a global nation and a testing ground for technology and innovation.
The UAE Minister announced 13 new projects on Sunday that will help the country launch an ambitious growth strategy for the next 50 years.
These are part of the 50 projects that will be announced this month.
Top 50 projects in the UAE: The first set of plans announced
New and revised visa programs; a global campaign to attract foreign investment; national initiatives to support emerging UAE companies; financial support; data privacy laws and international partnerships were among the “Top 50 Projects” announced that day.
Its purpose is to make the UAE a global nation and a testing ground for technology and innovation.
Please also read: The new visa allows young expats more time to develop their careers
1. Green visa: The new visa program separates work permit from residence. It provides self-financing for highly skilled individuals, investors, entrepreneurs, top students and graduates. It allows sponsoring sons to be 25 instead of 18; the grace period for leaving the country after unemployment or retirement is extended from 30 days to 90-180 days.
2. Freelancer visa: This is the first federal visa program for self-employed workers (freelancers).
3. Invest.ae: It is a unified electronic portal that brings together local entities and 14 economic entities related to investment. It will provide investment opportunities throughout the UAE and help establish corporate and bank accounts.
4. 100 coders per day: The program will attract 3,000 coders to join the UAE’s workforce every month. This will increase the number of coders to 100,000 within 12 months and promote the establishment of programming companies through incentives and benefits.
5. UAE Data Law: This is the first federal law drafted in cooperation with a large technology company. The UAE Data Law authorizes individuals to control the use, storage and sharing of their personal data, with the aim of protecting the privacy of individuals and entities.
6. 5BN project: The UAE Development Bank has allocated AED 5 billion to support UAE projects in new key areas, stimulating the industrial sector and diversifying the economy.
7. Technology driven: AED 5 billion has been allocated to support the adoption of advanced technologies in the industrial sector in the next five years.
8. 10X10: This aims to achieve an annual growth of 10% in UAE exports to 10 major global markets.
9. National domestic value plan: It will redirect 42% of the procurement of the federal government and major UAE companies to local products and services. The plan aims to increase the number of local suppliers to 7,300 within the next four years and increase the purchase value from AED 33 billion to AED 55 billion.
10. UAE Investment Summit: It will be held in the first quarter of 2022 and will link investment funds with the public and private sectors. It will help create investment opportunities and attract AED 550 billion in foreign direct investment for the UAE in the next nine years.
11. The Fourth Industrial Revolution Network: Its goal is to establish and develop 500 national companies deploying advanced technologies within the next five years.
12. Global Economic Partnership: The UAE will sign economic agreements with eight global strategic markets to achieve the goal of an annual increase of Dh40 billion in trade with these markets of Dh257 billion. A high-level committee for economic agreements was also established.
13. PyCon MEA: The largest programming summit in the Middle East will be held in the second half of 2022 to connect programmers with the public and private sectors and academic institutions. It will help cultivate digital talents and creative programming projects.
Reporter@khaleejtimes.com
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