UAE Cabinet reviews achievements in 2024 Global Competitiveness Reports

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has chaired the UAE Cabinet’s meeting held at Qasr Al Watan in Abu Dhabi.

The meeting was attended by His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Chairman of the Presidential Court; H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance; and H.H. Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior.

His Highness Sheikh Mohammed bin Rashid Al Maktoum said, “I chaired the final UAE Cabinet meeting of 2024 at Qasr Al Watan today, marking the conclusion of a remarkable year filled with achievements, and unprecedented economic growth. Throughout the year, the UAE has solidified its global competitiveness, accelerated its development, and attracted world-class talent and resources. The country achieved its highest-ever competitive performance, ranking first globally in 223 international development indicators and securing a place among the top five in 444 indicators across key global reports. These reports highlight excellence in business environment, economy, infrastructure, digital systems, talent mobility, foreign investment, financial systems, exports, trade, tourism, technology, and more. This has been a year of prosperity for the UAE’s exceptional people, guided by a visionary leader and driven by the unwavering dedication of an outstanding national team. As we look toward 2025, we are confident it will bring even greater achievements and opportunities.”

His Highness Sheikh Mohammed bin Rashid added, “During today’s meeting, the Cabinet approved the governance framework for the Education, Human Resources, and Community Development Council, chaired by H.H. Sheikh Abdullah bin Zayed Al Nahyan, with H.H. Sheikha Mariam bint Mohamed bin Zayed Al Nahyan as Vice Chairperson. The council includes seven ministers and specialised committees focused on higher education, private education, and the social sector. We are optimistic about the council’s efforts and confident it will ensure the UAE’s families and children receive nothing but the best.”

His Highness Sheikh Mohammed bin Rashid noted, “We also approved the establishment of the UAE Entrepreneurship Council, chaired by Alia Al Mazrouei. A dedicated fund of AED 300 million has been allocated to support youth projects, encouraging them to venture into entrepreneurship. The UAE’s dynamic and prosperous economy creates opportunities for all, both near and far. We aim to empower our youth to seize these opportunities, understand the foundations of success, and lead this vibrant economic momentum toward even greater horizons.”

His Highness Sheikh Mohammed bin Rashid added, “Furthermore, the Cabinet approved the launch of a federal government employee award worth AED 7 million to promote ‘Zero Bureaucracy’. This initiative will recognise teams, individuals, and federal entities that introduce innovative projects to simplify government procedures, conserve financial resources, and reduce regulatory burdens on businesses and individuals. By honouring those who streamline processes and enhance efficiency, we aim to celebrate creativity and dedication. These efforts exemplify our commitment to strengthening national competitiveness and delivering excellent public service.

"We also approved the National Policy for Preserving the UAE’s Modern Architectural Heritage. This policy emphasises safeguarding the cultural, national, and historical significance of the country’s architectural landmarks, which are integral to the UAE’s identity. Currently, 130 sites and buildings have been identified, with plans to expand this to 1,000 in the coming years. These distinctive structures represent a national legacy that must be preserved and sustained for future generations.”

The Formation of the Education, Human Development and Community Council
The UAE Cabinet approved a decision to form the Education, Human Development and Community Council, chaired by H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, and H.H. Sheikha Mariam bint Mohamed bin Zayed Al Nahyan as Vice-Chairperson, and includes in its membership Sarah Al Amiri, Minister of Education, Dr. Abdulrahman bin Abdulmannan Al Awar, Minister of Human Resources and Emiratisation and Acting Minister of Higher Education and Scientific Research, Shamma bint Suhail Al Mazrui, Minister of Community Empowerment, Sana bint Mohammed Suhail, Minister of Family, Dr. Sultan bin Saif Al Neyadi, Minister of State for Youth Affairs, Jassem Al Zaabi, Chairman of the Abu Dhabi Department of Finance, and Hajer Al Thehli, Secretary-General of the Education, Human Development and Community Council.

An Executive Committee, chaired by H.H. Sheikha Mariam bint Mohamed bin Zayed Al Nahyan, will be affiliated with the Council to study and review the plans submitted by the relevant entities on all matters that fall within the Council’s jurisdiction, and to propose and develop programmes, initiatives, and policies addressing current challenges.

Additionally, several subcommittees will be affiliated with the Council to review affairs submitted by the relevant federal or local entities, provide support, and submit development recommendations.

The Education, Human Development and Community Council aims to synchronise strategic visions, policies, legislation and plans related to education, human development and community in the UAE, and to ensure integration between early education, public education and higher education sectors through the establishment of an ecosystem based on sequential educational stages, and to align education outcomes with the requirements of the labor market.

UAE Performance in Global Competitiveness Reports 2024
The UAE Cabinet reviewed an in-depth report on the nation’s achievements in the 2024 Global Competitiveness Reports, showcasing its continued ascent in global rankings. The UAE secured the first position globally in 223 indicators, an increase from 215 indicators in 2023 and 186 in 2022.

Furthermore, the UAE ranked among the top five countries in 444 indicators, up from 406 in 2023 and 339 in 2022, and among the top ten in 661 indicators, compared to 604 in 2023 and 508 in 2022.

The report highlighted key sectors where the UAE solidified its global leadership, including investment, aviation, digital infrastructure, and finance. Notably, the UAE ranked first worldwide in several critical indicators, such as mobile broadband subscriptions per 100 inhabitants, the percentage of the population using the internet, and total internet users.

In addition to these achievements, the UAE demonstrated strong performance across various other indicators. It ranked second globally in tourism revenue (as a percentage of GDP) and digital and technological talent.

The country secured the third position in air transport service efficiency and fourth in goods exports (as a percentage of GDP), availability of global expertise, and trade services balance (as a percentage of GDP). It achieved fifth place in business startup procedures, air transport quality, business culture and competition, financial system flexibility, and economic cluster development.

The UAE also ranked sixth in outbound foreign direct investment flows (as a percentage of GDP), seventh in investment incentives, venture capital, and trade-to-GDP ratio, and eighth in business startup activity, distribution infrastructure, and the number of operating airlines.
Additionally, it achieved ninth place in financial markets, resilience and adaptability, and the use of digital platforms for transport and logistics services. Finally, the UAE ranked tenth in the number of air service agreements and access to information and communication technologies.

Zero Bureaucracy Award
During the meeting, the Cabinet approved launching the “Zero Bureaucracy Award” for federal government employees, with a prize pool of AED7 million. The award will be open to all work teams and individuals in government agencies and projects that make government procedures easier and contribute to preserving the government’s financial resources. The Federal Government will shortly organise and announce a ceremony to honor employees with this award.

Approval of the National Policy for Preserving the UAE's Modern Architectural Heritage
The UAE Cabinet has endorsed the National Policy for Preserving Modern Architectural Heritage, a strategic initiative designed to protect the country’s unique architectural legacy. The policy aims to enhance public awareness, instill pride in national identity, promote education and research, advance cultural tourism, and support economic growth. Additionally, it seeks to bolster the UAE's global standing and foster innovation.

The Formation of the Entrepreneurship Council
The UAE Cabinet approved the formation of the “Entrepreneurship Council”, chaired by Alia bint Abdulla Al Mazrouei, Minister of State for Entrepreneurship.

The Council seeks to synchroniSe national initiatives to support Small and Medium Enterprises in the UAE, foster a business environment that supports innovation and contributes to building a knowledge-based economy, and enhance partnerships between government and private entities to achieve innovative strategic solutions.

Moreover, the Cabinet approved a AED300 Million “Entrepreneurship Fund” directed to support and encourage the culture of entrepreneurship and promote the entrepreneurial mentality in the UAE.

Restructuring the Industrial Development Council and the Board of Directors of the UAE Space Agency
The Cabinet approved the restructuring of the Industrial Development Council, chaired by Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology. The Council will aim to accelerate the UAE’s industrial growth and the implementation of the innovation agenda.
The Cabinet also approved the restructuring of the Board of Directors of the UAE Space Agency, headed by Dr. Ahmad Belhoul Al Falasi.

Rewards for Reporting Illicit Trade in Goods
The Cabinet has approved a resolution regarding rewards for reporting illicit trade in goods. The resolution aims to activate community participation in uncovering crimes and encourage individuals to report instances of illegal trading. It also establishes rules and criteria for disbursing financial rewards for providing information on such activities.

Eligibility for rewards requires that reports pertain to goods regulated by the relevant authority. The information provided must be new, previously unknown to authorities, accurate, and valid at the time of reporting.

Furthermore, the Cabinet approved the mandatory application of the reverse charge mechanism on transactions involving precious metals and gemstones among VAT-registered entities in the UAE.

The mechanism will apply to gold, silver, palladium, platinum, natural and synthetic diamonds, pearls, rubies, sapphires, and emeralds. By adopting this mechanism, taxable entities will benefit from streamlined VAT processes, enabling efficient recovery of input VAT and bolstering the competitiveness of the precious metals and gemstones market.

Approval to Sign and Ratify 25 International Agreements and MoU
In international affairs, the Cabinet approved the signing and ratification of 25 international agreements and MoU, including the ratification of two agreements between the UAE and Ireland on mutual legal assistance in criminal matters and extradition of criminals, and an agreement on cooperation and mutual administrative assistance in customs matters between the UAE and the United States of America, among others.

Moreover, to empower cultural not-for-profit associations in the UAE, the Cabinet approved the transfer of the powers of technical supervision and disbursement of subsidies to these institutions from the Ministry of Community Empowerment to the Ministry of Culture.