Sheikh Mansour chairs council meeting on initiatives to support economic ecosystem

The UAE's Ministerial Development Council discusses plans to boost economy and government

The UAE plans to increase the contribution of the industrial sector to the country’s economy in the next 10 years. Bloomberg

The UAE’s Ministerial Development Council on Wednesday held a meeting to discuss initiatives and legislations that aim to support the economic and governmental work ecosystem, and strengthen its continuous development to meet future requirements.

The council discussed issues in the Emirates' industrial sector, cyber resilience and digital transformation, state news agency Wam reported.

The meeting was chaired by Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, at Qaṣr Al Waṭan in Abu Dhabi.

It discussed the challenges facing the industrial sector and the prospects to develop industries and enhance their contribution to the national economy.

The UAE, the Arab world’s second-largest economy, plans to increase the contribution of the industrial sector to the country’s economy in the next 10 years to create jobs and attract international investment.

Last year, the country announced Operation 300bn, which aims to more than double the contribution of the industrial sector to the country’s economic output to Dh300 billion ($81.68bn) by 2031, from Dh133bn in March 2021.

Foreign direct investment is a main part of the strategy, along with dedicated financing and a programme to direct spending towards local products and suppliers. Overall, Operation 300bn aims to support 13,500 small and medium enterprises in the next decade.

During the meeting, the council also discussed the amendment of federal legislation regulating the transfer and transplantation of human organs and tissues in line with global practices, Wam reported. It also deliberated upon the regulations regarding domestic workers and revising provisions related to the legislation of the General Pension and Social Security Authority.

The council reviewed the outcomes of the implementation of the UAE's national cybersecurity standards in government organisations. It also discussed the mechanisms to accelerate the pace of digital transformation in government entities.

Cybersecurity has increasingly become an imperative of governments and companies as digitisation gathers pace as a result of the Covid-19 pandemic.

The UAE has taken steps to strengthen its cybersecurity framework, particularly within government entities. The country formed a council in 2020 to develop a comprehensive cybersecurity strategy and help create a safe and strong cyber infrastructure in the UAE.

The council also reviewed standards for governing exchange and investment in projects, assets and digital infrastructure, Wam said.