UAE Projects of the 50: second package to be announced today

Throughout September, the country's government will be announcing plans for the next five decades

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'.

Latest: Projects of the 50: new plan to get 75,000 Emiratis into private sector

A second package of new projects and initiatives to boost the UAE's development over the next 50 years will be announced on Sunday during an event at Qasr Al Watan, Abu Dhabi.

It will be attended by Cabinet ministers, senior officials, local, regional and international media.

Announcements about the 50 national projects began on September 5, three months before the UAE celebrates its 50th national day on December 2.

The first 13 initiatives included visas for freelancers, highly skilled professionals, investors, entrepreneurs, top students and graduates to sponsor themselves.

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

The second package is expected to include strategic projects to boost the country’s growth on the domestic and international front.

These will help raise the UAE’s ranking on global indicators and further improve the living standards of its people.

The projects will benefit all members of society for the next five decades, the government said.

The first 13 initiatives announced last week included:

• Dh5 billion ($1.36bn) from Emirates Development Bank for Project 5Bn to support Emirati initiatives in priority sectors, stimulate industry and contribute towards economic diversification.
• A green visa to enable highly skilled professionals, investors, entrepreneurs, top students and graduates to sponsor themselves.
• A freelancer's visa, the first federal visa for self-employed people.
• Dh5bn, also in partnership with Emirates Development Bank, for Tech Drive to support advanced technology adoption over five years.
• The 10x10 programme with the aim of achieving a 10 per cent annual increase in UAE exports to 10 global markets: China, the UK, Netherlands, Italy, Russia, Poland, Luxembourg, Australia, New Zealand and Indonesia.
• Invest.ae, 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.
• The In-country Value programme to 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.
• The Emirates Investment Summit, to be held next spring, to 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.
• The Fourth Industrial Revolution Network to grow 500 national companies through the application of advanced technology over five years.
• Under Global Economic Partnerships, the UAE will undertake 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 to increase the number of coders from 64,000 to 100,000 in a year and support the establishment of programming companies through incentives and benefits.
• The UAE Data Law, 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, to 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.