The UAE’s President Just Announced His National Priorities: Here’s What I Think
Someone I was having a conversation with yesterday asked me how I interpreted the UAE’s President His Highness Sheikh Mohamed bin Zayed Al Nahyan speech last week where he highlighted the country’s national priorities for the coming future.
The speech was touted by many as a ‘roadmap of the UAE’s future’.
Here’s a video of the full speech:
From my experience, announcements like these are either preceded or followed up with execution plans, set goals and I would imagine KPIs to track the progress made in each one of these areas. Therefore, it’s a good idea to keep a close eye on these national priorities and look out for some of the steps that will be taken to address them.
The following are my general interpretation of some of these priorities, and what I personally expect to see as future initiatives and policies that might be rolled out on the back of these priorities. I’ll focus here specifically on the areas that might have an impact on business and employment here in the UAE.
*Disclaimer: These are my personal views and interpretations. I hold no ministerial position and neither do I have any influence on policies. Therefore you’re welcome to share your own take on the President’s speech and the announced national priorities.
(1) Acknowledgement of the important role residents play. Expect more policies to retain residents who contribute towards nation building.
While a growing number of countries look inward and are pushing for policies designed to restrict immigration into their respective countries and protect their own citizens, the UAE seems committed to attracting international professionals who can contribute towards the growth of the country, while at the same time empowering it’s own citizens.
(2) Increased focus on attracting skilled human capital. Expect more policies and initiatives designed to attract and grow skilled human capital, especially youth talent.
(3) Increased focus on empowering nationals. Expect more initiatives to support citizens ability to enter the workforce, access support to become entrepreneurs as well as access support to lead a decent and sustainable life in the face of rising costs of living.
(4) Diversification of the economy: Economic diversification will become an increasingly important strategic priority. This presents an opportunity for businesses operating in industries the UAE has targeted as key for it’s diversification strategy.
(5) Expect policies and initiatives designed to enhance the UAE’s competitiveness across different levels and become one of, if not the most competitive country in the world.
(6) Increased focus on Science and Technology industries by introducing more initiatives designed to develop people’s capabilities in these areas, as well as attracting talent in future industries from around the world.
(7) Expect announcements of new strategic partnerships. These partnerships will be aimed at nurturing relationships with countries in various areas especially economic development and trade relations.
(8) Last but most importantly, the UAE will remain committed as a reliable energy provider supporting global energy security as well as domestic needs.
Feel free to share your own take-aways from the speech.
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