UAE: New Pvt Sector Policies Approved; Firms Backing Emiratisation To Get Additional Incentives 

The policy, approved by the Cabinet on 1 March 2022, provides additional incentives for companies that support the employment of Emiratis. 

A new policy for private sector companies in the UAE will support the government’s Emiratisation objectives and protect labour rights. 

Chairman of the Cabinet meeting, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai stated that “Citizens will remain the priority and the government will support them continuously in housing, development, education, economic and labour opportunities. The government’s role is to establish a balance between our rapid economic growth and providing a better life for our citizens.” 

It aims to develop an integrated system that will offer alternatives to employment insurance. This will provide more benefits for employment and will also reduce the financial burden on many establishments. 

Another policy classifies private sector businesses to enhance the flexibility and competitiveness of the labour market. 

Employment will be classified according to the nine occupational levels laid down by the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation. 

The UAE Cabinet also adopted a housing loan budget of Dh12 billion for the Sheikh Zayed Housing Programme which is meant for the next few years. 

Also, the UAE Cabinet approved a policy to support the Emiratisation goals and plans of private sector companies, providing additional incentives for companies supporting Emiratisation, and consolidating the partnership between the government and the private sector in this field. 

In order to increase the focus on Emiratisation, the Cabinet focused on the need to implement a first-of-its-kind institutional Emirati ecosystem. The system promotes the principles of tolerance and coexistence in working environments of all institutions in both the government and private sectors. 

The UAE Cabinet also adopted a series of Emirati Technical regulations in several productions and services sectors, aimed at unifying legislation and specifications within the GCC and with different countries around the world. 

Further, the Cabinet also approved a new policy of housing loans programme to reduce the waiting period to receive the loans. 

“The aim is to fulfil accumulated and expected requests and reduce the waiting period during the coming years,” said Sheikh Mohammed. 

The UAE Cabinet meeting also approved a resolution to form the Emirates Council for Balanced Development, chaired by Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of the Abu Dhabi Crown Prince’s Court and member of the Abu Dhabi Executive Council. 

The Council aims to develop plans, implement projects and build government-private partnerships. It also aims to develop the UAE regions, providing opportunities for citizens and a better future for children. 

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