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Vice President and Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum and Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces His Highness Sheikh Mohamed bin Zayed Al Nahyan took part in the second day of the Cabinet retreat held at Bab Al Shams Desert Resort. Also participating were Crown Prince of Dubai His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum and National Security Advisor and Deputy Chairman of Abu Dhabi Executive Council His Highness Sheikh Hazza bin Zayed Al Nahyan.
Sheikh Mohammed bin Rashid said that the development of human capital is of paramount importance for the 21st century economies and is the only way to achieve sustainable development and promote the UAE’s endeavors towards further progress and prosperity. He added that the UAE have the expertise and the resources, the will and the determination, and most importantly, the vision and the wise leadership to ensure its economy is sustainable.
"The UAE is ready and has been always proactive; it has the innovative solutions and creative ideas to address challenges,” Sheikh Mohammed said adding that the UAE’s goal is to lead by example and convey a historic image of the UAE’s achievements to the world.”
His Highness gave directives at the end of the Cabinet retreat to launch the UAE Post-Oil Strategy in the coming weeks.
The strategy will include ideas and initiatives concluded in the retreat. It will work to strengthen the competitiveness of the current economic sectors as well as gradually introduce new sectors, which will achieve a quantum leap in the UAE’s economy, boost competitiveness and ensure its sustainability in accordance with the highest international standards.
For his part, His Highness Sheikh Mohamed bin Zayed Al Nahyan said that the UAE strive to transform its economy from depending on natural resources to depending on human capital skills.
Sheikh Mohamed bin Zayed said that the post-oil transformation is a turning point in the history of the UAE. “The vision of the UAE President will be always the first reason to pursue excellence and success," he added.
Sheikh Mohamed bin Zayed also said: "We will continue shaping the future and plan for it. We will launch effective national initiatives and adopt unconventional methods to realize a comprehensive development process towards more achievements so as to ensure a leading position of the UAE globally. We want a scientifically advanced UAE, we aim to have an Emirati robust economy depending on advanced industries and scientific research, and we want Emirati innovations that change the lives of our future generations"
On its second day, the Cabinet retreat was interactive and witnessed a lot of discussions and proposed solutions.
The results of the first day of the retreat were presented. Deputy Prime Minister and Minister of the Interior His Highness Lt. General Sheikh Saif bin Zayed Al Nahyan headed a working group on human capital that aims to develop, attract and retain talents; while Deputy Prime Minister and Minister of Presidential Affairs His Highness Sheikh Mansour bin Zayed Al Nahyan chaired a working group discussing the development of a robust knowledge-based economy with technology and innovation as its core. Minister of Finance His Highness Sheikh Hamdan bin Rashid Al Maktoum chaired a working group on the government policies that aims to ensure government financial sustainability and utilize government resources to contribute to the UAE’s post-oil economy. Minister of Foreign Affairs His Highness Sheikh Abdullah bin Zayed Al Nahyan chaired another working group that discussed ways to ensure the sustainability of social welfare for Emirati families and diversify sources of income.
The initiatives proposed will be put to further discussion and consideration before they are included in the strategy that will be soon announced.
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