Sheikh Mohammed also announced the setting up of the UAE Council for Balanced Development. Image Credit: Dubai Media Office

Abu Dhabi: The UAE Cabinet on Monday approved a Dh12 billion budget for the Sheikh Zayed Housing Programme.

The budget was approved during a meeting chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.

Council for balanced development

In a series of tweets, Sheikh Mohammed also announced the setting up of the UAE Council for Balanced Development chaired by Sheikh Theyab bin Mohammed bin Zayed Al Nahyan.

The council has been tasked with drawing up plans, implementing projects, and building government and private partnerships to develop the UAE’s tourism and development sectors, thereby offering opportunities and a better future for Emirati citizens.

“I am optimistic about Theyab bin Mohammed and the potential of youth,” Sheikh Mohammed tweeted.

Push for Emiratisation drive

The Cabinet also approved a new policy offering additional incentives to companies supporting Emiratisation.

“The Emirati citizens remain our priority in terms of providing them with housing, development, education and job opportunities. The citizen is always the direction and the government’s role is establishing a genuine balance between our rapid economic growth and proving a better and a more dignified life for our citizens,” the UAE Vice President stressed.

The Cabinet also approved a number of economic, security and environmental agreements.