UAE Projects of the 50: The first 13 are announced

The initiatives include visas for freelancers, highly skilled professionals, investors, entrepreneurs, top students and graduates to sponsor themselves

Emirati Minister of Cabinet Affairs Mohammad Al Gergawi. UAE Government Media

Saeed Al Eter, chairman of the UAE Government Media Office, addresses the audience at Emirates Towers in Dubai where he revealed 50 new projects for the UAE. All photos: Suhail Akram / The National

The country will seek $150 billion in inward investment by 2030.

Senior officials set out a bold new vision for the country as it prepares to mark 50 years since the Union was formed.

The drive will see billions pumped into the economy and hundreds of thousands of people trained and reskilled.

Officials, along with local and international media, listen intently as the projects and initiatives are unveiled.

Ministers set out 'new era of prosperity and development'.

The first 13 of 50 new projects and initiatives to boost the UAE's development have been unveiled at an event in Dubai.

The initiatives will be the cornerstone of growth as the country marks 50 years since unification.

At an event at Jumeirah Emirates Towers on Sunday attended by Cabinet ministers and senior officials, the government set out a series of principles on which the projects are founded.

Here are the first 13 initiatives to be announced:

• Emirates Development Bank has allocated Dh5 billion ($1.36bn) for Project 5Bn, which will support Emirati initiatives in priority sectors, stimulate industry and contribute towards economic diversification.
• The green visa will enable highly skilled professionals, investors, entrepreneurs, top students and graduates to sponsor themselves.
• The freelancers visa, the first federal visa for self-employed workers, will also be introduced.
• Dh5bn will be allocated, in partnership with Emirates Development Bank, for Tech Drive, which will support advanced technology adoption in the industry over five years.
• The 10 x 10 programme aims to achieve a 10 per cent annual increase in UAE exports to 10 global markets: China, the UK, the Netherlands, Italy, Russia, Poland, Luxembourg, Australia, New Zealand and Indonesia.
• Invest.ae is a portal that unites investment-related local entities and 14 economic entities, presenting investment opportunities throughout the UAE. The website will provide resources for businesses and for opening bank accounts.
• In-country Value will redirect 42 per cent of procurement of the federal government and major UAE companies to local products and services. It aims to increase the number of local suppliers from 5,000 to 7,300 and boost procurement value from Dh33bn to Dh55bn over four years.
• Emirates Investment Summit, to be held next spring, will connect investment funds with the public and private sectors to create investment opportunities that attract Dh550bn of inward foreign direct investment to the UAE over the next nine years.
• Fourth Industrial Revolution Network will aim to grow 500 national companies through the application of advanced technology over five years.
• Under Global Economic Partnerships, the UAE is undertaking comprehensive economic agreements with eight strategic global markets to achieve a Dh40bn annual increase in the current Dh257bn trade volume with these markets. A Higher Committee for Economic Agreements has also been established.
• The 100 Coders Every Day initiative will increase the number of coders from 64,000 to 100,000 in one year and support the establishment of programming companies through incentives and benefits.
• The UAE Data Law is the first federal law to be drafted in partnership with major technology companies. It will empower people to control how their personal data is used, stored and shared. The project is intended to protect privacy.
• The biggest programming summit in the Middle East, PyCon MEA, will be held next summer. The aim is to connect coders with the public and private sectors, and to develop digital talent and creative programming projects.