UAE Minister of Economy Abdulla Bin Touq Al Marri
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As a young ambitious nation with unparalleled vision and leadership, the UAE has the most active and sought-after economic ecosystem in the Middle East and efforts are continually under way to attract the brightest talent from around the globe, promote advanced technology, accompany new sectors and create a truly knowledge-based economy. Our imagination and ambitions are boundless as our leaders always say: “The word ‘impossible’ does not exist in our lexicon.”

Over the past five decades, the UAE has gone from being a simple transit stop to a thriving, dynamic trade and business hub and ultimately a cutting edge, world-class destination to live and work in. Massive investments in infrastructure have led to architectural creations that have turned our cities into consumer havens, while also nurturing our human capital.

Along with the world’s sixth highest GDP per capita (PPP), significant advances in healthcare, education, and the general  wellbeing of our population, we have also achieved some incredibly noteworthy successes across many sectors in record time.

WHAT IS NEXT?

We are living in a new era for humanity — in which digitalisation and advanced technology are a pivotal part of our everyday lives. Artificial intelligence, blockchain and data analytics are game changers for government services and business models alike.

The UAE has a reputation for being a testbed for the implementation of promising, emerging future technologies. We are proud of our boldness in continuously embracing and adopting innovation.

With world-class infrastructure and advanced digital capabilities, we are ready to become the global capital of future economy. As the country celebrates its golden jubilee, our government has announced a set of bold strategic projects to fuel the country’s next phase of growth, both domestically and internationally.

The ‘Projects of the 50’ covers several key sectors including economy, entrepreneurship, advanced skills, digital economy, space and advanced technologies. It boasts the largest set of judicial and legislative changes in the history of the UAE.

As we believe that young minds and national expertise are the main pillars for building a flourishing new growth model, new residency and visa pathways have been introduced, making it easier for investors, innovators, entrepreneurs, highly skilled professionals, and ambitious university graduates to live and work in the UAE. We are modernising our visa system and introducing new green and freelance visas to enable ambitious expatriates to operate their businesses in the country.

We are starting our next 50 with new economic partnership agreements with several leading economies – UK, India, Indonesia, Turkey, Israel, Kenya, South Korea and Ethiopia – enabling the UAE’s businesses to access a range of dynamic and growing markets.

With a clear roadmap for our transition to a knowledge-driven economy where new ideas, technologies and industries thrive, the UAE economy today relies on a diverse range of sectors, including logistics, manufacturing, ICT, retail, construction, renewable energy, finance, tourism and hospitality sectors.

Our objective is to accelerate this further as we invest in an innovation-based economy. As we reflect on our first 50 years, we have made a strong commitment to becoming the gold standard for doing business in the region.

When we look ahead to the next 50, we see the UAE fit and ready to become a home for talent, a hub for creativity and an ideal destination to work and live.