Dubai: The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, has approved the establishment of a National Investment Fund. The decision was made during a Cabinet meeting held at the Dubai Airshow, aiming to enhance global investments in the UAE.
According to Emirates News Agency, the meeting saw the participation of prominent UAE leaders, including His Highness Sheikh Mansour bin Zayed Al Nahyan and other key officials. Sheikh Mohammed bin Rashid emphasized the UAE’s commitment to supporting global platforms and shaping the future of the aviation sector. The newly approved National Investment Fund, with an initial capital of AED36.7 billion, seeks to attract foreign direct investment by offering financial incentives. The goal is to boost annual foreign direct investment from AED115 billion to AED240 billion by 2031 and increase total accumulated FDI to AED2.2 trillion.
The Cabinet also reviewed progress in the National Strategy for Industry, noting that industrial spending surpassed AED110 billion, a 244 percent increase over five years. The industrial sector now contributes AED210 billion to the GDP, with a target of AED300 billion by 2031. Additionally, the UAE National Identity Strategy was approved, featuring seventy initiatives to strengthen national identity and family cohesion.
In terms of regional cooperation, the UAE remains committed to GCC joint economic action, holding the highest number of economic licenses issued to GCC citizens and being home to many property owners and students from other GCC countries. The Cabinet also discussed the achievements of the UAE civil aviation sector, which contributed AED340 billion to the GDP in 2024, and signed 190 air transport agreements globally.
The Cabinet’s agenda included the National Family Growth Agenda 2031 to promote family stability and population growth, as well as a national policy for classifying natural reserves. Legislative developments included a federal law on plant genetic resources and resolutions to enhance the tax ecosystem and trade through digital solutions.
Efforts to improve food security were highlighted, with the UAE Food Security Council achieving significant progress in reducing food waste and establishing a national food cluster. The Cabinet also reviewed the National Pricing Policy for Essential Consumer Goods, ensuring fair pricing across the UAE.
In industrial and trade developments, the Cabinet assessed the National Strategy for Industry, with industrial exports and tech exports showing substantial growth. The National Re-Export Development Agenda for 2024 was also reviewed, showing a 5 percent increase in re-exports compared to 2023.
The Cabinet addressed traffic regulation by reconstituting the Federal Traffic Council to enhance traffic and licensing efficiency. Internationally, several agreements were ratified, including investment protection with Sri Lanka and mutual visa exemptions with other countries, alongside hosting international conferences.
The UAE continues to position itself as a global investment hub, with strategic initiatives to support economic growth, family cohesion, and international cooperation.