UAE: Sheikh Mohammed announces 10 economic principles for the next decade

Image credit: WAM

Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai, announced that the UAE government had approved 10 economic principles to guide the country in the coming decade.

The announcement was made on Day 2 of the high-level government meet held in Abu Dhabi on November 7, 8.

The guiding principles are meant to focus the country on the economic agenda and to continue to improve growth, said Sheikh Mohammed. He wrote on Twitter, “Today, we concluded the annual meetings of the UAE government, during which we decided to focus significantly in the coming period on the economic agenda with the aim of enhancing the country’s developmental momentum, reinforcing and solidifying it, and reaching new levels of growth.”

He added, “The UAE government today approved the economic principles for the state over the next 10 years to serve as the general framework in which we will concentrate on achieving our economic targets.”

اختتمنا اليوم أعمال الاجتماعات السنوية لحكومة الإمارات والتي أقررنا خلالها التركيز بشكل كبير خلال الفترة القادمة على الأجندة الاقتصادية بهدف تعزيز الزخم التنموي للدولة وتعزيزه وترسيخه والوصول به لمستويات تنموية جديدة ..وأقرت حكومة الإمارات اليوم المبادىء الاقتصادية للدولة خلال… pic.twitter.com/5UCdrjRCMw

— HH Sheikh Mohammed (@HHShkMohd) November 8, 2023

UAE’s 10 economic principles

Sheikh Mohammed published two pages of the document that outlined the 10 principles. The document is titled UAE Economic Principles Document.

The document’s introduction cites the 50 principles of the UAE, to say the coming decade will look at “a unified economic and investment destination, with a focus on building the world’s best and most active economy in the coming period, the Economic Principles Document for the UAE is born”.

The roadmap aimed at strengthening the momentum of the country’s development are:

1. A globally open free-market economy

­2. The UAE attracts top talent

­3. Investing in the digital economy

4. To develop and create opportunities for its youth

5. Manages a sustainable and balanced economy

6. Offers a strong and stable financial system

7. A strong and fair legislative environment

8. Supports transparency and the rule of law

9. The UAE’s businesses are supported by a strong banking sector

10. The UAE offers the world’s finest transport and logistics infrastructure