His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE, and Ruler of Dubai, chairing the Cabinet meeting on Sunday. Image Credit: Twitter/@HHShkMohd

Abu Dhabi: The UAE Cabinet has approved a new policy granting customs exemption only for imported materials that do not exist locally.

The new policy, which was approved on Sunday during a meeting chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE, and Ruler of Dubai, aims to support local products and encourage factories to use locally produced materials.

Additionally, the Cabinet confirmed the date for the annual UAE government meetings, which would be attended by up to 500 local and federal officials. The meetings will be held in Abu Dhabi on November 22 to review the government’s performance over the past year, and plan the most important development projects for the next year.

On his official Twitter page, Sheikh Mohammed said: “Today, I chaired a cabinet meeting at Qasr Al Watan in Abu Dhabi. We started our meeting by thanking our medical and service cadres, the Emergency and Crisis Authority, volunteers, and all citizens and residents who acted as one national team while fighting one of the biggest health crises that humanity has ever experienced.”

“We also reviewed the government’s productivity measurement project, which will be outsourced to the Federal Human Resources Authority. Despite having access to sufficient personnel and financial resources, some organizations and ministries continue to operate at low productivity levels. The real leader is the one who doubles the volume, value, and productivity of the human potential within his powers and vice versa,” Sheikh Mohammed tweeted.

“We also adopted a new policy to support the local product by changing the customs exemption policy. The customs exemption will now be valid for imported materials that are included in industries and do not exist locally. This is to encourage factories to use locally produced materials,” The Vice President tweeted.

The cabinet has also okayed a comprehensive development project to train federal government cadres and equip them with the skills necessary for the upcoming age in order to improve the government’s preparation for the future and that of its cadres.

The Council of Ministers has also given the green light for the country’s joining the Global Alliance on Green Economy, which aims to consolidate the global transformation towards more sustainable economic prosperity and preserve the environment. This comes as part of the UAE’s preparations to host COP28 next year.

The UAE Government Annual Meetings

The Cabinet approved the convening of the UAE Government Annual Meetings on the 22nd and 23rd November. The nation-wide meeting will witness the participation of UAE's leaders, the ministers of the UAE, and representatives of all UAE government entities at the federal and local levels. Participants will discuss current developmental projects, shaping the future development vision of the country to reach the UAE Centennial 2071.

The Consumer Goods Pricing Policy

The UAE Cabinet adopted a new policy to price the basic consumer goods in the country. The Ministry of Economy will be responsible of ensuring control over the commitment of basic commodity providers and sales outlets, to pricing in accordance with the policy. The policy includes 9 basic commodities for consumers, including cooking oils, eggs, dairy, rice, Sugar, poultry, legumes, bread and wheat.

Creating and organising Owners Association

The meeting also adopted a decision regarding the establishment and organization of the Owners Association.

The decision regarding the executive regulations' provisions apply to all real estate established by the federal authorities in the country, including free zones.

Controls of Shariah Supervisory Committees for Companies

The meeting adopted a decision regarding the standards, requirements and controls of the Shariah Supervisory committees and the Shariah observer, for companies established in the UAE that conduct their activities in accordance with the provisions of Islamic Sharia. The decision sets controls for committees' work.  As for the companies, they must obtain the approval of the internal Sharia Supervisory committees after their establishment and before starting their activities.

Joining the Global Alliance on Green Economy

During the meeting, the UAE Cabinet approved the country's joining the Global Alliance on Green Economy, led by the World Green Economy Organisation, to support the UAE's preparations to host the 28th session of the Conference of the Parties (COP 28).

Also, the Cabinet approved a decision to form a committee chaired by Dr. Ahmad Belhoul Al Falasi, Minister of Education.

The committee will work on implementing the decision on the governance of UAE Public Higher Education Institutions, reviewing the scholarship system, and following up on the implementation of the new funding model in the UAE public universities.

The UAE Cabinet approved "JAHIZ: The Future of Government Talents" initiative, which focuses on empowering and training government talents with 20 skills to enhance their readiness for the future. The skills include data and artificial intelligence, new economy, digital and 10x skills to accelerate and double achievement.

Also, the meeting approved a number of agreements with the United Republic of Tanzania, and the Republic of Peru. In addition to an agreement with the principality of Monaco.

Besides, the meeting approved the signing of an agreement with the World Customs Organisation, to establish the Regional Office for Capacity Building (ROCB) for North Africa, the Near East and the Middle East.

The Cabinet meeting also approved the establishment of UAE General Consulates in Sarajevo in Bosnia and Herzegovina, and in the city of Shymkent in the Republic of Kazakhstan.