UAE on course to grow into a bigger economic powerhouse under President

UAE on course to grow into a bigger economic powerhouse under President

In his first year, Sheikh Mohamed has focused on increasing role of Emiratis, strengthening human capital, signing CEPAs, and more

Published: Sat 13 May 2023, 6:00 AM

When the UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan said a few years ago that the country will celebrate when the last barrel of oil is shipped, he means it.

In his first year as President of the country, Sheikh Mohamed has focused on increasing the role of Emiratis in the different spectrums of life, strengthening human capital, signing Comprehensive Economic Partnership Agreements (CEPAs) to diverse the country’s economy from petrodollars as well as improving food safety and security of the country to make the country an economic powerhouse not just in the region but on a global scale.

In order to incorporate citizens in the workforce, especially in leadership roles, firms with 50 employees are required to increase the number of Emiratis in their skilled workforce by one per cent every six months. This will expedite the country’s transition towards human capital and create more opportunities for the citizens in the higher echelon of leadership in public and private sectors and also improve the country’s ranking in Global Human Capital Index.

In the past