Monday, July 15, 2024

Sheikh Khalifa bin Saeed .. 18 years of economic achievements


I planned a country United Arab Emirates Since I took it Sheikh Khalifa Bin Saeed succeeded his father, Sheikh Saeed bin Sultan Al Nahyan, to power in November 2004, 18 years ago. Unprecedented steps at the growth and economic level directly and clearly reflected the size of the economy. The value of the UAE’s GDP will increase many times since 2004. The UAE will reach 1.5 trillion dirhams by the end of 2021, surpassing $ 405.5 billion, to boost the economy’s total volume.

Witness Economy United Arab Emirates Over the past two decades, there has been a steady recovery with the emergence of unprecedented opportunities for innovation and growth, which have been able to tackle the biggest challenges, particularly the global financial crisis and its consequences and the resilience and resilience of its economy. The most violent economic impacts associated with corona infection.

Expo 2020 despite the epidemic

During the time of Sheikh Khalifa, the United Arab Emirates proved the success of its plans and the clarity of the vision of its leadership … Future economyIt tops the list of many exceptional achievements, with the introduction of a clear plan that defines the paths of economic plans for the next fifty years.

The United Arab Emirates has demonstrated its ability to meet various challenges, insisting on hosting the largest global trade event in the midst of the challenges of the Corona epidemic, and has been successful in recent months by hosting Expo 2020 for the first time in the Middle East and the Middle East. North Africa is bringing the world back to a geographical location.

During the reign of Sheikh Khalifa, the United Arab Emirates made exceptional and qualitative achievements into the future, gaining international consensus as a nation through the United Nations Educational, Scientific and Cultural Organization (UNESCO) on November 25 last year. Today marks the second day of December and is a milestone for the future and its industry.Emirates National Day is International Future Day.

During Sheikh Khalifa’s tenure, the United Arab Emirates launched a number of quality economic initiatives and projects that will improve the direction for the next fifty years, including 3 major engines: comprehensive co-operation agreements with many countries, raising the level of partnership, and the economy. And trade with other countries.

During the reign of Sheikh Khalifa bin Zayed Al Nahyan, the United Arab Emirates was at the forefront of competitiveness and became the second largest economy in the Arab region. And ensuring sustainable development and civilian prosperity, investing in all sectors from energy, housing and infrastructure to space and sending the first Arab probe to Mars.

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Infrastructure in the United Arab Emirates is one of the key aspects of economic and social development and the most important tributary of civilized development. Construction of many ports and airports and high level hospitals and schools. Construction of thousands of houses, as well as many highways, intersections and tunnels.

The tallest man-made building

Against the backdrop of his interest in improving infrastructure and service facilities, Sheikh Khalifa bin Saeed was one of the most important proponents of the construction of Burj Khalifa, the tallest tower in the world, the tallest man-made building. It is 828 meters high, and construction began a few months before the death of Sheikh Saeed, the founder of the United Arab Emirates in 2004, which opened in early 2010.

During Sheikh Khalifa’s tenure, the UAE advanced in international indicators, ranking 25th globally in the global economies according to the Global Competitiveness Report, and for many consecutive years, the UAE has maintained its position as one of the largest international donors in the sector. Official development assistance related to its national income, and during his tenure the United Arab Emirates adopted a massive five-year federal budget ending in 2026.

The late March marked the beginning of a massive industrial strategy worth 300 billion dirhams ($ 80 billion), with fifty plans to uplift and expand the industry and establish and elevate a new phase of domestic and external development in the country. The United Arab Emirates has become a major destination for global investment, with its global competitiveness in the industrial and technology sectors, reforms in the growth and financial markets and a key hub for technology and technology pioneers.

The biggest legislative development

Despite the uncertainty surrounding the global economy, Emirati strategies for the next fifty years, in their inception and implementation, carried optimistic numbers. Private sector companies, and the next nine years must reach the target of attracting $ 150 billion in foreign direct investment in the United Arab Emirates.

During the era of Sheikh Khalifa, the United Arab Emirates adopted the largest legislative development in its history, and this year approved the five-year federal budget, and the oil sector saw unprecedented developments, including the introduction of the Marban crude base. Initiative to double foreign trade rates, launch of fifty initiative packages and higher growth rates compared to world countries.

The stock market is rising

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In terms of financial markets, the Abu Dhabi Securities Exchange Index crossed 10,000 points for the first time in history, approaching market capitalization of $ 510 billion. The Dubai Financial Market surpassed its mark by 3700 points and its market value increased to $ 126 billion by lists considered to be the largest in market history.

Competitive Indicators

During the time of Sheikh Khalifa, the United Arab Emirates made quality improvements in the Global Competitiveness Index, ranking ninth globally and third globally. In government performance within the same index, it ranked eighth In business performance globally, and ninth globally In economic performance.

Digital Competitiveness Report In 2021, the United Arab Emirates ranked 10th and 5th globally in the overall rankings.

In technology worldwide, and 12 In preparation for the future worldwide, and 18 In global knowledge, to record another difference in the code.Kearney 2021 “Index of Confidence in Foreign Investment” and is ranked 15th globally.

Talent Competitiveness Report 2021, UAE ranks 23rd and number one globally. Among the world’s most skilled workers, it ranks first in the index in the Arab world Economic Freedom 2022.

The UAE is characterized by a social and economic environment that attracts talent from around the world and includes over 200 people. A nation operating in the sectors of its vibrant and strong economy, The United Arab Emirates has adopted legislation that allows free entitlement to foreigners at a rate 100% for companies, the estimated time to set up a company is 15 minutes, which is the lowest globally.

The United Arab Emirates’ plans and ambitions are aimed at enhancing and diversifying opportunities in a variety of sectors, including artificial intelligence, digital economy, circular economy, innovation, aerospace, health, agriculture, advanced industries, healthcare and the food industry. Allows for new global trends and enhances returns from the investment environment, especially after publishing decisions that allow foreign investor firms and projects full ownership in all sectors and activities except those with strategic impact. Over the next fifty years and contributes to achieving the aspirations of the Emirates.

In November 2021, Sheikh Khalifa bin Saeed Al Nahyan approved the largest plan to create federal law and legislation in the Emirates, which includes more than 40 laws aimed at improving the economic environment and investment and business infrastructure. The amendments include a legislative improvement in the integrated set of laws and their amendments in line with the renaissance and aspirations of the United Arab Emirates to support the protection and stability of society and the rights of individuals and organizations. Structure that includes laws related to investment, business and industry sectors, business law, regulation and protection of industrial assets, trademarks, business registration and electronic transactions.

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The United Arab Emirates has topped the list of Gulf Cooperation Council (GCC) countries’ most competitive emerging markets and is ranked third in the world after China and India in the annual “Agility” logistics index of emerging markets for 2022. Outperforming all 50 countries included in the index for providing the best business environments and digital readiness, the UAE ranks first among all index countries in terms of doing business basics.

Indicators of superiority

Dubai International Airport handled more than 29.11 million passengers in 2021, an increase of 12.4% over 2020, while Abu Dhabi International Airport handled about 5.26 million passengers, while national airports were occupied by UAE flights. Recorded strong growth and re-launch of destinations worldwide as it succeeded in restarting flights to approximately 500 destinations in 110 countries around the world, recording growth in the number of passengers on its flights.

According to the Yearbook of Global Competitiveness 2021, the UAE ranks first in the world out of 152 indicators, the world’s top 5 in 274 indicators, and one of the top 10 countries out of 425 global indicators. Number of economic sectors, including indicators of finance and taxes, economy, advanced technology, energy.

The UAE’s industrial strategy plans during Sheikh Khalifa’s time include raising the industry’s contribution to GDP to 300 billion dirhams, now 133 billion dirhams, and doubling the volume of foreign trade to 3 trillion dirhams. Over the same period, an increase of 1.5 trillion dirhams, and the maintenance of annual economic output of over 1.5 trillion dirhams and the investment of nearly 600 billion dirhams in renewable energy to achieve climate neutralization by 2050.

These strategic goals include the economic return of 200 billion dirhams as a result of the operation of the Etihad Rail, with an investment of 50 billion dirhams, approving the federal budget of about 290 billion dirhams until 2026, increasing the contribution of the value-added project. Achieve an annual increase of 22 billion dirhams from 20 billion dirhams by 2025 and 45 billion dirhams with 10 foreign markets through the “10 x 10 Plan” as part of the first set of 50 initiatives launched in September 2021.

Bill Dittman
Bill Dittman
"Freelance alcohol fan. Coffee maven. Musicaholic. Food junkie. Extreme web expert. Communicator."

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