Business

In Pictures: A look at UAE's milestones reached and new ones set in these 12 months

In Pictures: A look at UAE's milestones reached and new ones set in these 12 months
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Foreign ownership
UAE’s top rank in closing the gender gap | The UAE was ranked first across the Arab world in World Economic Forum’s Global Gender Gap Report for 2021. Not just that, on the global scale, the country was ranked first on four indicators: Having women in parliament, sex ratio at birth, literacy rate, and enrolment in primary education. The 2021 WEF report also identified the UAE as closing 71.6 per cent of its gender gap to date. Image Credit: Shutterstock
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Dubai
100 per cent foreign ownership in UAE firms | The decision for full ownership for foreign investors will enhance the investment attractions of being in the UAE. The decision, which took effect on June 1, will accelerate the UAE’s economic recovery and add to the gains the country has made so far. Image Credit: Bloomberg
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Infrastructure Dubai roads
Infrastructure programmes | Projects worth Dh1.9 billion was launched this month. A series of road networks and strategic developments were implemented with the aim of shortening the distance and transportation time between various emirates in the country. Plus, there is the steady progress being clocked by Etihad Rail, which will add another game changing facet to the country’s transportation needs. Image Credit: Twitter/HHShkMohd
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2019 UAE HOPE MARS LAUNCH33-1612692564023
Hope Probe mission | The historic Hope Probe mission - the first Arab interplanetary mission - ensured the UAE became only the fifth nation in the world to reach Mars. Earlier this month, the Emirates Mars Mission (EMM) team was given the International Achievement Award by the British Interplanetary Society (BIS), The mission was launched from Tanegashima Space Centre (TNSC) in the Kagoshima Prefecture of southwestern Japan at 1.58am (UAE time) on July 20, 2020. Image Credit: AFP
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Diverging economies to keep markets chugging
UAE’s agenda to enter 25 new international markets | As part of the non-oil export development, the UAE aims to access 25 new markets with an aim to increase exports by 50 per cent in the medium-term. Image Credit: Hugo Sanchez/©Gulf News
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UAE dirhams
UAE ranked top global FDI destination | Being ranked 15th globally in Kearney’s 2021 Foreign Direct Investment (FDI) Confidence Index, the UAE moved up from 19th place in 2020. FDI inflows to the UAE grew 44.2 per cent in 2020 to $19.88 billion compared to 2019, despite the fallout from the COVID-19 pandemic, according to a report by the Ministry of Economy. Image Credit: Bloomberg
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UAE
A safe country | The UAE was ranked the world’s second safest country in 2021, according to data released by Global Finance. Global Finance';s safest countries index, which ranked 134 countries based on their response to the coronavirus, while taking into account three main factors such as the risk of war, personal security and natural disaster, in addition to risk factors stemming from COVID-19. Image Credit: Bloomberg
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Copy of NAT 2101113 DUBAI SKYLINE-5-1610715231268
Skill-up Academy | The initiative was launched in June to support startups and entrepreneurs. A national agenda to attract young talent is the main goal, apart from the deployment of growth accelerators to help family-owned companies access new markets was set in motion. Image Credit: Virendra Saklani/Gulf News
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Visa
100,000 golden visas for global coders | The National Programme for Coders announced the start of receiving applications for golden visa form entrepreneurs and start-ups specialised in computer programming. This initiative was launched to attract the best-qualified coders and graduates specialised in the tech space. Image Credit: Gulf News archives
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Construction
UAE Central Bank sets up Dh100 billion stimulus | The initiative - called the Targeted Economic Support Scheme – represents the single largest stimulus package among Gulf states to emerged from the COVID-19 impact. It was announced after the UAE Central Bank issued a directive to local banks to go easy on loan payments by customers, through a “re-scheduling of loans contracts, granting temporary deferrals on monthly loan payments, and reducing fees and commissions for affected customers”. Image Credit: Pixabay
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Stock Dubai Chamber
Major structural changes | There were changes at all levels, including the restructuring of the Dubai Chamber of Commerce and Industry, while there was also the setting up of the Dubai Chamber of Digital Economy. Image Credit: Ahmed Ramzan/Gulf News
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Retirement
A ';retirement visa'; programme | The Dubai initiative targets wealthy individuals from around the world to apply for a retirment visa in Dubai. Anyone over the age of 55 can apply for the visa. There are terms and conditions for obtaining a retirement visa that is renewable every five years. Image Credit: Pixabay
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Stock Dubai Skyline
Dh6.6 billion worth of Dubai projects | A total of 29 projects worth Dh2 billion were approved in Dubai to add 8 million square meters of green spaces and parks to the emirate’s residential and commercial areas. Image Credit: Clint Egbert/Gulf News
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Domestic tourism
The UAE strategy for domestic tourism | The first federal domestic tourism campaign – ‘World’s Coolest Winter’ – was conceived and launched in December last year to invite the public to explore the hidden gems of the seven emirates. Image Credit: Pixabay
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Dubai
UAE tops world for government responsiveness during pandemic | In addition to all the economic achievements, UAE ranked first globally on 20 development indicators - including the government’s ability to adapt to changes despite the COVID-19 pandemic. It retained its position as the ninth most competitive nation in the world for the second year in a row, and being the only Arab country in the Top 10. Image Credit: Bloomberg