In preparation for hosting COP28, Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, has approved 78 environmental projects and initiatives. These initiatives include public techniques to diminish carbon emissions, control the utilization of solar energy products, sustainable tourism, and various other initiatives that support sustainable and climate-friendly development.
Sheikh Mohammed shared the news on Twitter, where he mentioned presiding over a Cabinet meeting at Qasr Al Watan, Abu Dhabi. During this meeting, the Cabinet adopted the reformation of the board of directors of the Emirates Investment Authority, led by Sheikh Mansour bin Zayed Al Nahyan.
The UAE Cabinet also approved the UAE Service Export Development Agenda, which aims to boost production and make Emirati exports more competitive on international markets. Education and medical tourism are two of the five main areas of focus within this agenda. They also intend to concentrate on the world’s best markets, Islamic financial services, the creative economy, and financial services.
Additionally, Sheikh Mohammed announced the approval of the launching of DARAK, a new housing platform that provides citizens with solutions, exclusive offers, and banking facilities at all stages of construction.
During the meeting, the Cabinet also endorsed the reorganization of the governing body of the Emirates Investment Authority (EIA), led by Sheikh Mansour bin Zayed Al Nahyan, Vice President and Deputy Prime Minister of the Official Court.
The Cabinet reviewed the government’s policies for expanding exports by opening up to new global markets. The non-oil foreign exchange reached a significant milestone, crossing the Dhs2tn mark for the first time in history and totaling Dhs2.233tn in 2022, representing a 17 percent growth from the previous year.
Furthermore, the Cabinet approved a new educational model for the Higher Schools of Innovation, which will be effective at the beginning of the academic year 2023/2024. The Higher Colleges of Technology are expected to make a stronger contribution to the nation’s workforce development system under this new model.
The meeting also included the approval of several international agreements with friendly nations, such as the Kyrgyz Republic and the Government of the Commonwealth of Dominica.
Lastly, the Cabinet endorsed an agreement with the Islamic Development Bank regarding the establishment of the bank’s regional hub in the UAE and the establishment of the UAE embassy in the Republic of Guinea in the city of Bissau, as well as the UAE’s appointment for membership in the Executive Board of the United Nations Human Settlements Program.
