UAE allocates Dh300 million fund for youth projects
Cabinet chaired by Sheikh Mohammed also approves Dh7 million award for federal employees
Abu Dhabi: The UAE Cabinet on Wednesday approved the formation of the Emirates Entrepreneurship Council and allocated a Dh300 million fund to support youth projects, encouraging and motivating young people to venture into the field of entrepreneurship.
The council, chaired by Alia Al Mazrouei, aims to foster innovation and enhance opportunities for the next generation of entrepreneurs.
The announcement was made by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, through his official X account. The Cabinet meeting, chaired by Sheikh Mohammed, was held at Qasr Al Watan in Abu Dhabi.
“Our nation is blessed with abundant resources, and its prosperity benefits all, near and far. The dynamic economic movement provides immense opportunities, and we want our youth to harness this momentum, master the principles of excellence, and seize the great prospects it offers. We aspire for them to lead this movement to even greater and broader horizons,” Sheikh Mohammed said.
Dh7 million award for employees
The Cabinet also approved the launch of a new award for federal government employees, worth Dh7 million, focused on achieving ‘Zero Government Bureaucracy’.
“During the Cabinet meeting today, we approved the launch of a new award for federal government employees, worth Dh7 million, focused on achieving zero bureaucracy. The award will recognise work teams, individuals, and federal entities that develop projects to streamline government procedures, save financial resources, and reduce regulatory burdens on companies and individuals,” Sheikh Mohammed said.
This initiative aims to honour and celebrate those who facilitate transactions, simplify procedures, and reduce the steps involved, ultimately saving people time and effort in their government interactions.
“We will commend and celebrate innovators and hardworking individuals who dedicate themselves tirelessly to providing resources, serving the public, and enhancing the country’s competitiveness.”
Governance system for education council
The Cabinet approved the governance system for the Education and Human Resources and Community Development Council. The council is chaired by Sheikh Abdullah bin Zayed, Minister of Foreign Affairs, with Sheikha Mariam bint Mohamed bin Zayed serving as Deputy Chair.
The council comprises seven ministerial members, along with executive, specialised, and sectoral committees focusing on higher education, private education, and the social sector.
“We wish them success in managing this vital national dossier, which has seen significant transformations in recent years. We are optimistic about their efforts and hold high expectations for their achievements. The UAE’s society, its families, and its children always deserve the very best,” the Vice President emphasised.
UAE’s achievements in 2024
Sheikh Mohammed said that 2024 was a year of goodness and blessings, a year of excellence, prosperity, and stability — a year of unprecedented economic growth. During this time, the UAE continued to strengthen its global competitiveness, experiencing accelerated growth and attracting the best international expertise and wealth.
“The UAE’s competitive 2024 achievements culminated in remarkable results, with the country ranking first globally in 223 world development indicators. It also placed among the top five in 444 indices across key global reports on the business environment, economy, infrastructure, digital infrastructure, talent mobility, foreign investment, financial systems, exports, trade, tourism, technology, and other critical areas,” he added.
“A good year for the best people. A good year led by the best President. A good year with the best efforts and the largest, most dedicated national team. We are coming back stronger, more beautiful, and greater in 2025,” Sheikh Mohammed said optimistically.
Preserving heritage
The Cabinet endorsed the national policy for preserving the country’s modern architectural heritage. The policy will focus on developing plans to maintain the cultural, national and historical significance of urban structures and buildings that have become key elements of the state’s architectural identity. Currently, 130 sites and buildings have been approved, with plans to increase them to 1,000 sites in the coming years. Distinctive urban buildings are a national heritage that must be preserved and sustained for future generations.