His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, chaired a UAE Cabinet meeting in Abu Dhabi. During the meeting, several significant decisions and initiatives were approved:
- A new Optional System for End-Of-Service Gratuities for private sector and free zones employees was endorsed. This system allows employers to participate voluntarily and establishes private sector investments and savings funds, supervised by the Securities and Commodities Authority in coordination with the Ministry of Human Resources and Emiratization.
- The UAE Cabinet approved a federal law to limit the maximum weight of heavy vehicles on UAE roads. Heavy vehicles weighing over 65 tonnes will be banned from using the roads by 2024 to protect the country’s infrastructure and enhance road safety.
- The establishment of the ‘Federal Regulatory Bureau for Electricity and Water’ was approved. This bureau will regulate electricity and water trade domestically and internationally, oversee production, transmission, and distribution of electricity and water, and protect consumer rights.
- A new Rewards and Incentives System for federal government employees was introduced, designed to motivate and recognize outstanding performance and contributions.
- Eleven new federal laws were adopted, including those related to e-commerce, media regulation, reproductive health, space sector regulation, human genome use, and various socio-economic, health, and technological laws. These laws aim to strengthen the legislative environment, promote social stability, economic growth, and enhance the quality of life in the UAE.
- Emirati astronaut Sultan AlNeyadi’s achievements during a 6-month space mission, including over 200 research experiments and studies, were recognized. He conducted experiments in various fields, such as plant cultivation and space exploration techniques.
- The UAE Cabinet also approved amendments to several federal laws related to road transportation, medical products, pharmacy, judicial fees, mediation for civil and commercial disputes, competitiveness, auditors’ profession, insurance, and more.
- The Cabinet assigned the UAE Council for Environmental and Municipal Work to develop a framework for the proper use of Hydrofluorocarbons (HFCs) and reduce their climate impacts.
- Amendments were approved to activate the real beneficiary at all registered and licensed establishments to meet anti-money laundering and counter-terrorism financing standards.
- International agreements were ratified with friendly countries, including Cambodia, Côte d’Ivoire, Mozambique, and Turkey, along with an agreement with the World Organisation for Animal Health (WOAH).
- The UAE was chosen to host the third edition of the ICAO Conference on Aviation and Alternative Fuels from November 20th to 24th, 2023.
- The Emirates Tourism Council’s 2022 report revealed that the UAE attracts over 20 million visitors annually, contributing significantly to the country’s GDP and job market.
These decisions reflect the UAE’s commitment to enhancing its legislative environment, promoting economic growth, and recognizing achievements in various sectors, including space exploration, transportation, and environmental sustainability.
