UAE Launches 50-Year Plan To Become One Of World’s Strongest Economies

The United Arab Emirates has taken giant steps to provide a 50-year framework that will guide the country towards emerging as one of the leading global economies on earth.

Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, tweeted on Monday that the country’s leadership will among other things, “reinforce its status as a prime destination for talent, expertise & investments.”

In its “10 principles” of execution cited by our correspondent, the country and its institutions would prevent brain-drain.

It will also make its land favorable destination for talents within and outside the country so as to enrich the country’s goal of becoming a front-line economic hub.

To preserve its intellectual property, UAE leadership will among other things, strengthen budgetary allocations to institutions where people work.

“Principle Four: The main driver of future growth is human capital. Developing education, attracting talent, retaining specialists, and continuously building skills is the bet to maintain the UAE’s superiority.

“Principle Six: Consolidating the global reputation of the UAE is a national mission for all institutions. The UAE is one economic destination, one tourist destination, one industrial destination, one investment destination, and one cultural destination, and our national institutions are required to unite efforts, jointly benefit from capabilities, and work to build transcontinental institutions under the umbrella of the UAE,” it stated on its official website.

The country is noted for its ingenuity amongst it Arab neighbours with its most populous city, Dubai, reputed to be a tourist and business destination.

UAE has bilateral relations with Nigeria and the relationship between both countries were boosted when President Muhammadu Buhari visited the country in 2016.