His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, chaired the Cabinet meeting held today at the Dubai Airshow. He affirmed the UAE government’s support for this global event, which brings together delegations from 115 countries and more than 150,000 professionals. The event also contributes to solidifying the UAE’s position in shaping the future of the international aviation sector.
His Highness confirmed that, as part of the meeting’s proceedings, the establishment of the National Investment Fund was approved, with an initial capital of AED 36.7 billion. This amount is subject to increase and review. The fund aims to boost foreign direct investment through incentive packages. We also aim to increase the annual inflow of investments from AED 115 billion to AED 240 billion by 2031. Furthermore, we seek to increase the accumulated capital from AED 800 billion to AED 2.2 trillion by the same year.
Sheikh Mohammed bin Rashid reiterated the UAE’s message to investors worldwide, stating that the country will provide the best environment for investment and will support the growth and success of all investors.
During the meeting, the Cabinet reviewed the progress of the National Industrial Strategy. Spending on the sector has exceeded AED 110 billion over the past five years, an increase of 244%. Industrial exports reached AED 197 billion, and the sector contributed AED 210 billion to the GDP. We aim to reach AED 300 billion by 2031.
The Council also adopted the National Identity Strategy, which includes 70 government initiatives. These initiatives aim to instill a sense of identity in new generations, strengthen values of belonging, and reinforce the stability of Emirati families.
In the context of joint Gulf cooperation, His Highness affirmed that the UAE remains committed to this approach. He noted that the UAE holds the largest number of business licenses granted to GCC citizens, totaling 36,000. It also boasts the largest number of GCC property owners, numbering 52,000, in addition to 7,500 GCC students enrolled in public universities. Furthermore, the volume of trade with the GCC countries reached AED 333 billion.
His Highness emphasized that strengthening the joint Gulf Cooperation Council (GCC) action is a firmly established principle, founded by the late Sheikh Zayed bin Sultan Al Nahyan. He affirmed the UAE’s continued commitment to this approach.
