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His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, chairs the cabinet meting on Sunday in Abu Dhabi. Image Credit:

Abu Dhabi: The UAE is number one in more than 121 global indices and 479 regional ones, announced His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.

In 2020 alone, the UAE has taken the lead in 79 international indicators, Sheikh Mohammed revealed during a Cabinet meeting held on Sunday under his chairmanship at Qasr Al Watan in Abu Dhabi.

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“We are among the top 10 most competitive countries globally in more than 300 global indices. Our message to everyone here in the UAE and abroad is that the UAE has no option but to excel and move ahead. Retreat is never an option,” Sheikh Mohammed said.

Remarkable achievement

In a series of tweets, Sheikh Mohammed congratulated President His Highness Sheikh Khalifa Bin Zayed Al Nahyan and His Highness Sheikh Mohammed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, on such a remarkable achievement, which was the result of strenuous efforts made by thousands of teams across all sectors.

During the meeting, Sheikh Mohammed affirmed that enhancing competitiveness ranking in all sectors plays a key role in the development strategies adopted by the country to further advance government performance and enhance the quality of life for citizens and residents.

Lt. General Sheikh Saif Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior, and Sheikh Mansour Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs were present. The meeting reviewed a detailed report on the performance of the UAE in the most important global competitiveness indicators.

Flexible plans

Sheikh Mohammed stressed that competitiveness is not a goal in itself, but rather a means to further enhance the performance and competence of all sectors, thus ensuring a high quality of life for citizens and residents, adding “ Attaining sustainable competitiveness within government work allows for the development of more flexible plans and policies that rise to the changes at the current stage”.

The report presented by the Federal Competitiveness and Statistics Authority reveals that the UAE ranked first globally in 121 indicators, first in the Arab world in 479 indices, and among the top ten countries in 314 indicators.

Four new structures

Following the recent ministerial formation, the Cabinet has approved 4 new organisational structures for Ministry of Economy, Ministry of Culture and Youth, Ministry of Industry and Advanced Technology, and Ministry of Energy and Infrastructure.

Private education

The Cabinet has also approved a Federal Decree-Law on private education, with the aim of organising the educational process in private schools, raising the quality of education, and stimulating competition between private schools. The law also regulates the licencing of private schools, approval of educational curricula, and the safety of students.

Commerical transaction law

The Cabinet also approved Federal Decree-Laws on the amendment of the penal code (Criminal Law), the Commercial Transactions Law, the Securities and Commodities Law, the Insurance Law, and the organisation of the telecommunications sector law.

Human medicine profession

Furthermore, the Cabinet approved the executive regulations of the Federal Law concerning the practice of the human medicine profession, which comprises detailed rules, provisions and procedures aimed at facilitating the implementation of the law.

Double taxation agreements

At the international level, the Cabinet approved agreements between the government of the UAE and a number of friendly countries to prevent double taxation, including the Republic of Chile, the Arab Republic of Egypt and the Republic of Zambia, in addition to an agreement with the Republic of Zambia on the encouragement and mutual protection of investments.

During the meeting, the Cabinet reviewed a number of government reports in various sectors, including the report of the financial statements of the Emirates Development Bank and the report of the external auditor for the fiscal year 2019, in addition to a report on the performance of the insurance sector in the country.