UAE Cabinet endorses setting up National Industrial Coordination Council

The UAE Cabinet, chaired by Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, has endorsed the launch of the Industrial Coordination Council to boost the industrial sector in the country.

The Industrial Coordination Council will be tasked with developing a national strategy to boost the industry sector in the UAE, set key performance indicators and follow up on implementation, proposes initiatives to boost cooperation, and share experiences among government entities as well as with the private sector. It will cooperate with various federal and local government entities and industrial union in developing relevant legislations supporting the sector.

His Highness Sheikh Mohammed bin Rashid said, "The industrial sector in the UAE plays an indispensable role in development, being a cornerstone of the UAE’s economy. Industry is a main component of our national economy. We have privileges in the UAE which enable us to push the sector to compete regionally and internationally."

His Highness Sheikh Mohammed bin Rashid stressed the importance of having a vision and a unified national industrial strategy that meets local and global markets, and coping with global challenges facing the sector. "We aim to have a developed, and flexible industrial sector exceeding traditional models and having networking and investment meeting growing needs of the markets," His Highness added.

The UAE Cabinet addressed other items on the agenda and reviewed two health services-related initiatives to ensure an improved health services system. The first initiative is about the cancer early-diagnosis programme, which aims to encourage Emiratis to take part in medical examinations, which would enable them to benefit from best-in-class health services.

The second initiative is about attracting talent to work in the nursing profession. It aims to attract Emirati cadres, through the development of programmes that aim to increase the number of qualified national nursing staff. The nursing profession is one of the most important strategic and major occupations in the health care systems, which is based on special foundations, knowledge, and has specialised skills. It includes a range of emerging principles of public basic, health, and behavioural sciences.

The Cabinet also endorsed the 100-Work Plan submitted by the Minister of State for Youth Affairs, which was previously discussed with His Highness Sheikh Mohammed bin Rashid. It includes programmes and initiatives that will be implemented to ensure a solid engagement of the youth, such as setting up emirate-level Youth Councils, Value Guidelines for Youth to be a reference in all issues related to ethics, and media to educate young people.

Addressing other issues, the UAE Cabinet approved unifying the rules of acquisition in financial markets in Gulf Cooperation Council countries to ensure inter-market integration and regulations.

The Cabinet also endorsed the issuance of the executive regulation of Federal Law No.12/2014 on regulating the profession of auditors. The regulation sets rules for continuous education and knowledge sharing, setting the scope of work of auditors, as well as to train Emiratis. By issuing this law, the UAE Government seeks to ensure good governance, transparency and practices.

On the international level, the UAE Cabinet approved inaugurating two embassies of the country in Denmark and Seychelles to boost cooperation and foreign relations. It also ratified agreements with a number of countries to boost economic and technical cooperation covering mutual protection of investments, tax avoidance and tax evasion and promoting investments and aviation services.

The UAE Cabinet meeting was held at the Presidential Palace and was attended by H.H. Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior and H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs.

Source:WAM