UAE Cabinet revamp seeks to ‘turbo-charge’ economic growth

  • Date: 06-Jul-2020
  • Source: Khaleej Times
  • Sector:Economy
  • Country:UAE
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UAE Cabinet revamp seeks to ‘turbo-charge’ economic growth

The revamping of the UAE Cabinet signifies a game-changing strategy to "turbo-charge the country's holistic growth to a higher orbit", economists and analysts have said. While ensuring more agility and swiftness in the governmental decision-making, the broad restructuring also seeks to redefine the second-largest Arab economy's future course driven by its digital-first policy.

Unveiling his restructured Cabinet on Sunday, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, declared: "Our national economy is an absolute strategic priority."

Sheikh Mohammed paid tribute to Sultan Al Mansoori, the outgoing Minister of Economy. "He spent 16 years in the UAE Government. He handled all of his responsibilities professionally. Wish you all the best in the next phase of your life."

The reshuffle resulted in the merger of several portfolios, including energy and infrastructure. It also saw the appointment of new economy and industry ministers along with two dedicated ministers of state for small and medium enterprises (SMEs) and foreign trade. It underscores the strategic vision of the UAE leadership in taking the nation to a new era of growth and prosperity over the next half century, analysts said.

3 ministers for economy portfolio

In the new setup, the