New plans to attract UAE officials to business sector

UAE government with new plans to attract government officials to the business sector.

UAE nationals working in the government sector are allowed to take up to a year off to start their own business ventures. The decision was taken at a cabinet meeting held on Thursday under the leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai.

"Our aim is to encourage the youth to take advantage of the great commercial opportunities offered by our national economy," Sheikh Mohammed tweeted. The UAE vice president said the cabinet reviewed the country's economic results compared to pre-pandemic levels.

Emiratis will receive half their salary during this period while retaining their government jobs. The government's aim is to make more citizen entrepreneurs.

The paid leave for Emiratis working in the government sector includes a year-long vacation. It will allow citizens who want to start or manage their businesses in the private sector. The leave will be approved by the head of the federal authority where the employee works.

The country achieved a growth of 47 percent in non-oil exports. There has been a 16 percent increase in foreign investment. A 126 percent increase in the number of new companies was also recorded. The cabinet also approved housing loans worth Dirhams 2.4 billion to citizens for the next half year.