UAE to establish Asian Infrastructure Investment Bank office

The UAE Cabinet has approved a number of decisions and policies supporting the country’s development process.

The latest Cabinet meeting, which was held at Qasr Al Watan in Abu Dhabi, was chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

"We approved four international agreements, and the establishment of an office for the Asian Infrastructure Investment Bank (AIIB) in the country," said Sheikh Mohammed.

The Cabinet also adopted the operational model of 'Ajyal Schools', which will see 28 public schools managed by experienced private operators for a period of three years.

The public and private school calendars for the next three academic years (2023/2024, 2024/2025, 2025/2026) were also approved. This sets out a clear and detailed timeline of school days and holidays.

As per the decision, schools must have a minimum of 182 working days.

.@HHShkMohd, in the presence of @MaktoumMohammed, @SaifBZayed & @HHMansoor, chairs the #UAE Cabinet meeting at Qasr Al Watan, Abu Dhabi. The Cabinet approved decisions and policies supporting the country’s efforts in development sectors.https://t.co/yB8642VFqV pic.twitter.com/8t8jSKbea2

— Dubai Media Office (@DXBMediaOffice) March 6, 2023

UAE Circular Economy Policy 2031

During the meeting, the Cabinet approved developing the UAE Circular Economy Policy 2031, as an updated framework to achieve the objectives of the UAE in circular economy, the UAE's Green Agenda 2030 and the UAE Centennial 2071.

The Agenda includes developing 22 policies in various fields, including sustainable transport, sustainable food production and consumption, sustainable manufacturing, and green infrastructure.

The UAE Governments Net Zero 2050 Charter was also approved. The charter aims to create a unified framework between the federal government and the local governments of the Emirates, ensuring cooperation in adopting policies and procedures to achieve climate neutrality by 2050.

UAE Award for Market Leadership

The ‘UAE Award for Market Leadership’ aims to recognise the efforts of private sector enterprises, honour leading businessmen and employees of the sector, and highlight the competitiveness of the country’s labour market.

National priorities for research and development

The Cabinet reviewed the Emirates Research and Development Council report for the year 2022, which addressed the country’s national priorities for research and development sector during the next stage, in the energy transition, health and quality of life, food and water security, among others.

Also, the meeting reviewed a number of reports, including the Emirates Scientists Council report for the year 2022, the UAE Council for Climate Change and Environment report, the UAE's National Committee on SDGs report, and the Federal Authority for Nuclear Regulation (FANR) report 2022.

The UAE Cabinet reviewed the Open Data Inventory Report (ODIN) 2022/2023. According to the results, the UAE ranked 9th globally out of 192 countries.

This reflects the UAE’s keenness in adopting transparency in government work, and reflects its policies towards open data, the use of technology, and the consolidation of a sustainable economy.

During the meeting, the cabinet approved 4 international agreements with a number of friendly countries, including the Republic of Turkmenistan, the Democratic Republic of East Timor, the Republic of Austria, and the Czech Republic.

Additionally, the Cabinet meeting approved establishing an embassy in Lisbon, Portugal, in addition to signing an agreement with the Secretariat General of the Gulf Cooperation Council to host the headquarters of the Gulf Academy for Strategic and Security Studies in the UAE.