The Golden Jubilee celebrations are being celebrated there on the completion of 50 years of UAE integration. Next December 2 is the 50th National Day. On this occasion, the plans of the first phase of Project 50 have been announced to accelerate the development of the country in the next 50 years. In these, special emphasis will be laid on making the country’s economy digital.
The first phase has announced new visas, investment plans and vast opportunities for the world’s talent. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, said that the new visa scheme is being implemented to attract talent from around the world. Cabinet Affairs Minister Al Gergawi said in this regard – ‘Our vision for the next 50 years is to make the country a global capital of investment and economic activity.
Project-50 will accelerate investment in digital and circular economy as well as apps based on artificial intelligence and fourth industrial revolution. The first federal freelance visa will be issued under these plans. The new visa will provide additional benefits to the family members of businessmen, investors and entrepreneurs. Apart from this, children above the age of 15 years will be allowed to work part time for the first time, so that they can work along with studies.
The Golden Visa Scheme will be expanded to include managers, CEOs, scientists, engineers etc. Now the age limit for sponsoring youth in Green Visa Scheme has been increased from 18 to 25. The period of leaving the country on loss of employment or retirement was 90 to 180 days instead of 30.
Apart from this, the target is to increase from 64,000 to one lakh cadres in a year by inducting 300 cadres in the country’s workforce every month. To promote digital skills, one lakh people will be given training in computer coding. One lakh visas will be given to programmers and cadres.
Aiming to increase industrial production by 30 percent of GDP,
Minister Sultan Al Jaber said: “The Emirates Development Bank will provide $1.36 billion (Rs 9,955 crore) to support projects in new and important areas.” In the next five years, 5 billion dirhams will be given for the purpose of changing industries for the fourth industrial revolution. The goal is to increase the contribution of 25 billion dirhams to the UAE’s GDP and increase industrial production by 30%. It is set to attract an investment of 550 billion dirhams in 9 years in 2022. The 6-month Expo-2020 Dubai will start from October 1.
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