The Five-Year Budget: Confidence, Optimism and Global Aspirations

The Five-Year Budget: Confidence, Optimism and Global Aspirations
The Five-Year Budget: Confidence, Optimism and Global Aspirations

Officials affirmed that the approval of the federal budget until 2026 totaling 290 billion dirhams opens wide-ranging prospects that will enable the state to preserve its gains and multiply its achievements. They pointed out that the approval of the federal budget confirms that the UAE is moving forward with steady steps towards a bright future to achieve the highest levels of prosperity, prosperity and growth in the country, and to enhance the UAE’s position as a global destination for pioneering future industries with world-class infrastructure and a skilled and advanced workforce.

His Excellency Abdul Rahman Saleh Al Saleh, Director General of the Department of Finance in the Government of Dubai, said that the approval of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, the five-year federal budget is approximately 60 billion dirhams annually. It reflects the optimistic view of the rational leadership towards a promising future.

It sends messages of reassurance to citizens and residents that our country is one of the first countries to emerge from the crisis, as His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, announced a few days ago.

Al Saleh considered that the new methodology for government work in the coming period means accelerating government achievement and relying on executive cycles for transformational projects through sectoral work teams, stressing that reliance on work on strategic sectors embodies innovation in government work, which is described by His Highness, Vice President and President of the State. The Council of Ministers as a secret of the superiority of the UAE.

He added: We in the Department of Finance are keen to renew in all of the department’s competencies, and the Dubai International Conference on Partnership between the Public and Private Sectors, which concluded successfully two days ago, is only a reflection of His Highness’ vision, and an embodiment of the Dubai government’s keenness to follow an approach based on renewal and innovation, through Finding innovative mechanisms and creative means to finance government infrastructure projects through partnership with the private sector.

Priorities

Sultan Butti bin Mejren, Director General of the Dubai Land Department, said that the Cabinet’s approval, headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, for the general budget of the Federation for the years 2022-2026.

It confirms drawing a road map for all government and private agencies as they enter the new fifty years, with national priorities very clear in their pillars, based on the principles of the fifty with new work mechanisms and methodology, and all the reasons for success have been provided to them, especially enabling them to achieve their dear goals supported by a federal budget characterized by flexibility and keeping pace with It deals with developments and changes, and is flexible in dealing positively with developments.

He stressed that His Highness Sheikh Mohammed bin Rashid Al Maktoum is consolidating, under his directives, a qualitative shift in government work at the federal and local levels, and melting them into the crucible of work and the integrated and harmonious national effort in all its joints to advance development in priority sectors and continue the achievements to enhance the competitiveness of the state.

National Agenda

Ahmed Mahboob Musabih, CEO of Ports, Customs and Free Zone Corporation and Director General of Dubai Customs, said: The UAE is embarking on achieving its national agenda for the next fifty years, and confirms the general budget of the Union announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. , may God protect him, with a total of 290 billion dirhams until 2026, the UAE’s determination to continue to stimulate entrepreneurship and achieve prosperity and prosperity for future generations.

He stressed that the fifty projects announced by the UAE provide an inspiring model for leading global economic transformations that establish a new phase of internal and external growth and achieve qualitative leaps in the national economy, noting that the vision of the UAE government always looks towards the future with ambitious strategic thinking to be the best country in the world in 2071. .

initiative

Ahmed bin Shafar, Chairman of the District Cooling Operators Association in Dubai and CEO of Empower, said: The directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, for government and private institutions and teams in the country to work The joint venture has established a unique approach to leadership and leadership that has become a model in various parts of the region and the world. Its depth and richness have yielded huge achievements in the great development of services and levels of performance, with which the country leads the global competitiveness indicators in many areas.

He stressed the initiation of the formulation of a comprehensive and integrated national initiative that serves and supports the construction of an urban and housing roadmap for the UAE, and is related to the district cooling industry, which has become a global language and excelled in the country in terms of its employment to achieve sustainability, protect the environment and resources and accelerate the transition to a green economy.

global aspirations

For his part, Sheikh Saeed bin Suroor Al Sharqi, Chairman of the Fujairah Chamber of Commerce and Industry, stressed that the approval of the federal budget until 2026 confirms the entry of the new 50 federal Emirates with confidence, optimism and global aspirations.

Pointing out that the wise leadership in the country has a future vision for a comprehensive economic, industrial and development renaissance, which is a clear indication of the strength of the national economy and the availability of sustainable financial resources to finance economic and social development projects in the country through ambitious plans that foresee new horizons towards the future.

The power of future plans

Muhammad Musabah Al Nuaimi, Chairman of the Board of Directors of the Ras Al Khaimah Chamber of Commerce, confirmed that the approval of the federal budget for the five years, with a total of 290 billion dirhams, reflects the strength of the future plans of the UAE and the continuation of achieving sustainable growth, and clearly highlights the strength of the UAE economy despite the global economic challenges resulting from the (Covid-19) crisis. 19).

He added: The new budget gives more confidence and positivity to local and foreign investors to increase investments and expand current and future projects, in light of the expansion of housing and infrastructure projects, and the upgrading of health care quality to provide the highest levels of services.

promising future prospects

Abdullah Sultan Al Owais, Chairman of the Board of Directors of the Sharjah Chamber of Commerce and Industry, said: “The adoption of the federal budget until 2026 and the new methodology for government work confirms that the UAE is moving steadily on the path of the future, based on the pioneering achievements in terms of diversifying the economic structure and developing the infrastructure. .

In addition to the efficiency of the pioneering strategies and policies implemented by the UAE under the directives of the wise leadership, which will launch our country to promising future horizons in which the achievements are integrated and converge with new achievements that illuminate our country’s rich record.”

Gains and achievements

Saud Salem Al Mazrouei, Director of the Hamriyah Free Zone Authority and the Sharjah Airport International Free Zone Authority, confirmed that the Cabinet’s approval, headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, the Federation’s general budget for the years 2022-2026. .

It highlights the ability of the UAE to continue to progress steadily in consolidating the gains and achievements it has achieved over the past decades, and reaffirms that the country’s economy is moving strongly towards further development and growth, and that the wise leadership of the UAE is continuing to implement its development plans without stopping.

Paid

He pointed out that the general budget of the Union for those years is a clear indication of the strength of the national economy and the availability of sustainable financial resources to finance economic and social development projects in the country, and the development of new productive economic sectors that contribute to advancing the national economy and achieving the sustainable development strategy according to the UAE Centennial 2071.

Noting that the allocation of 3.8% to the infrastructure and economic resources sector confirms the state’s keenness to continue its approach aimed at providing an exemplary investment environment, which will give a positive impetus to local and foreign investors to increase their investments and projects, and enhance the state’s ability to attract international companies, raise their competitiveness and prosperity economically and ensuring financial stability and economic growth.

More investment

Dr. Abdul Rahman Al Shayeb Al Naqbi, Director General of Economic Development in Ras Al Khaimah, stressed that the approval of the federal budget with this force shows the strength of the national economy and its ability to recover from the Corona crisis.

It represents an incentive to attract more investments that find the UAE a safe haven for its projects and benefit from government spending programs in various sectors, which enhance the competitiveness of the country, especially the ease of doing business, as the wise leadership affirms its constant keenness to set a budget that keeps pace with global economic changes and accelerates the pace of Emirati development. In all economic and commercial fields.

trust

Yousef Ali Mohammed, Director General of the Department of Finance in Ras Al Khaimah, explained that the budget translates the strength and diversity of the economy and enhances investor confidence in the business environment in the UAE, and contributes to attracting more foreign investments.

Where the budget confirms the solidity and strength of the state’s economy as a result of the strategic plans developed by our wise leadership, which are bearing fruits at a rapid pace, despite the economic and health challenges that the world is still going through, and the adoption of the new methodology for government work constitutes a new way to accelerate the pace of government services and national projects and improve the quality of life And the happiness of the UAE society in line with the aspirations of the next fifty years, and our wise leadership is distinguished by the development of ambitious and distinguished future plans and strategies that many developed countries consider difficult or impossible, but the UAE is different from other countries, where the leaders and the people are one entity that seeks to achieve the impossible, and the ceiling of their ambition is the sky.

Munther bin Shukr Al Zaabi, Director General of Ras Al Khaimah Municipality, stressed that the new budget, the establishment of the Emirates Infrastructure and Housing Council to unify federal and local housing efforts, and consolidate coordination in road and infrastructure projects, all contribute to accelerating the pace of housing growth and meeting the aspirations of the people of the state.

The budget reflects the vision of our wise leadership in transforming challenges into achievements, emphasizing the strength of the country’s economic situation and its ability to continue to foresee the future according to strategies, and the pioneering achievements achieved in terms of diversifying the economic and infrastructure infrastructure.

Strategic plan

The federal budget, the strategic plan that relies on field initiatives and the implementation of qualitative projects, highlights the government’s interest in providing the highest levels of financial stability and achieving sustainable growth for the national economy by diversifying sources of income to enhance revenues and open up prospects for new and promising economic sectors such as the advanced technology and space sector.

The country is constantly working on developing its model to keep pace with all developments to consolidate its strategic position as an investment incubator and a leading model in development.

The UAE is on the cusp of impressive federal years, thanks to the directives of our wise leadership, so that the country will make qualitative leaps for the national economy, which is a top national priority for the UAE government, and the main factor in ensuring a decent life for its people and future generations.


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