The UAE ministry has introduced a series of projects to boost its economy in the coming time. For this, 13 new projects have been planned by the ministers at Qasr Al Watan. These would be introduced in the “Projects of the 50” plan.
This plan was recently unveiled in September by His Highness Sheikh Mohammed bin Rashid Al Maktoum (Vice-President and Prime Minister of the UAE and Ruler of Dubai) and His Highness Sheikh Mohamed bin Zayed Al Nahyan (Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces). It is established to ensure a comprehensive development cycle for UAE Centennial 2071.
All 50 projects will be announced in separate events throughout September 2021. Here’s a recap of the projects that have been announced till now.
Sheikh Mohamed Bin Zayed, the Crown Prince of Emirate of Abu Dhabi, Deputy Supreme Commander of the United Arab Emirates Armed Forces recently took to Twitter for announcing the decisions made by the parliament. He stated “Consistent with our ambitions to empower our people and enhance the strength and sustainability of our economy, the UAE is launching a dedicated plan to boost the employment of UAE Nationals in the private sector, which will play a vital role in our nation’s long-term development”.
Emirati Talent Competitiveness Council
This initiative has been taken to strengthen the private sector partnerships and implement projects to bring forth 75,000 new private sector job opportunities for the Emiratis.
Emirati Salary Support Scheme
This includes framing policies related to increasing recruitments and salaries of Emiratis who graduated from private institutions. The monthly top-ups for 1st year of training will be as good as Dh8,000 for the graduates. While 5 years top-ups would be increased to Dh5,000 after recruitment is done. Terms and conditions apply.
Emirati professionals from specialized fields such as accountancy, nursing, financial auditing, financial analysts, coders, lawyers etc. will be given monthly top ups of Dh5,000 for 5 years of tenure.
This includes the provision of 5 years subsidy plans for Emiratis earning less than DH20,000/month. The cost of pension plans for Emiratis will be covered with government contributions on behalf of the company for 1st 5 years.
Child Allowance Scheme
Child allowance will be generated for Emirati Staff in the private sector for DH800 per child to a maximum of Dh 3,200 per month to cover childcare costs. It will be applicable till the age of 21.
About Dh 1.25 billion would be invested for specialization in vocational skills for Emiratis. These skills may include business management skills, accounting, technology skills etc.
To improve vocational training of private and semi-private sectors with awards for numerous business field a train-to-hire initiative will be introduced.
Private sector firms should have 10% of Emiratis workforce. It should rise by 2% every year, till it reaches 10%. Emiratis should be preferred more for skilled jobs.
National Healthcare Programme
Educational programs will be granted for healthcare sectors. Graduate healthcare assistant programs include Higher Diploma in Emergency Medicine and a Bachelor’s degree in Nursing. Supported and led by Fatima College of Health Sciences and ACTVET. The target is of developing 10,000 Emirati healthcare workers within the next 5 years.
6 month period of unemployment benefit would be given to private-sector employees who lost their jobs due to uncontrollable situations. They can find job within this period.
A subsidized career of break of 6 to 12 months would be provided to those who have recently launched a start-up. 50% of salaries would be given to employees while away. It would be given to limited employees as approved by the employers.
Emiratis federal government positions have given early retirement opportunities to employers who wish to start with private sector business. It would be open to limited employees as approved by the employers.
Dh1 billion funds can be generated to give micro-loans to graduates who intend to start business ahead. Patronage has been given by Sheikh Mansour bin Zayed in collaboration with UAE universities.
The government and ministries believe that the future is private sector companies which will lead to mutual benefits for the company and the country. The plan would also look forward to increasing the country’s human capital and empowering more Emiratis human workforce in the private sector. Guidelines would be introduced for the private sector firms to turn at least 10% employees into Emiratis in the coming 5 years.
For this, the projects are being undertaken aggressively. Results will soon come out to be much in favor.