UAE grants one-year leave with half salary to Emiratis to start business

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Sheikh Mohammed Bin Rashid chairs a cabinet meeting in Abu Dhabi.

Gulf Today, Staff Reporter

His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, chaired a cabinet meeting on Thursday in Abu Dhabi.

Sheikh Mohammed said on Twitter, “Today, I chaired a cabinet meeting at Qasr Al Watan in Abu Dhabi… At the outset, we reviewed our economic results compared to before the pandemic… 47% growth of our non-oil exports… 16% growth in foreign investment… 126% growth of new companies registered in the country… Our economy is fine and growing. And our path is on the rise, praise be to God.

Sheikh Mohammed said, during the meeting, we decided to approve housing loans for citizens at a value of Dhs2.4 billion during the next six months, with 500 beneficiaries per month.

“Our goal is to complete 13,000 homes from the Zayed Housing Program over the coming years… The process of supporting the citizen will continue, God willing.”

Sheikh Mohammed said, “Today, within the Council, we decided a full-time leave for citizens working in the government who wish to run their own business.

“The leave is for a full year with half the salary while preserving the job… Our goal is to encourage our youth to take advantage of the huge commercial opportunities offered by our national economy.

“Today witnessed the signing of performance agreements for a number of ministers… The agreements stipulate the completion of the 36 transformational ministries’ projects within six months to a maximum of 12 months in short strategic cycles for the government to enable it to respond to all changes quickly and with greater flexibility.

“The best conclusion of our day was honouring the mother of the UAE, Sheikha Fatima Bint Mubarak, as the most important figure supporting gender balance in the country… Sheikha Fatima’s journey in empowering Emirati women represents an exceptional model in this field at the regional and global levels.”

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