The United Arab Emirates (UAE) announced this Sunday a plan of economic and migration initiatives to boost its economy and attract talent and investments worth 150,000 million dollars (126,000 million euros) in the next nine years.
The Emirati Minister of Economy, Abdulla bin Touq, assured in a presentation to the press that the government will inject some 13.6 billion dollars ( about 11.5 billion in euros) into the economy over the next nine years.
“The UAE will hold a global investment summit early next year to attract 550 billion dirhams ($ 150 billion)” in the same time frame, he added.
Bin Touq also announced that he is preparing a global economic agreement with eight international markets, including Israel, with which the Arab country normalized relations last year, worth 11,000 million dollars (about 9,000 million euros).
It will be “a new era of prosperity and development,” said the Emirati Minister of Industry and Technology, Sultan al Jaber, who explained that the Government and the Emirates Development Bank will invest 1.36 billion dollars (1.15 billion euros) in the sector. digital.
On the other hand, the Minister of State for Foreign Trade, Zani al Zeyoudi, announced that the legislation will be made more flexible to facilitate obtaining a residence permit in the country, a controversial issue due to the “kafala” system or sponsorship of several Gulf countries Persian who leaves foreign workers at the mercy of their employers.
The UAE – he said – will introduce a new type of visa for individuals with exceptional abilities , “investors, entrepreneurs, exceptional students” with which they will not need an employer or company to obtain their residence permit.
In addition, the grace period will be extended from 30 to between 90 and 180 days to renew said permit and its beneficiaries will be able to “sponsor” their parents or children up to 25 years so that they can reside in the country.
Likewise, a special visa for self-employed workers will be created, of which no details were given.
With these and other measures, the UAE aims to attract, among others, an average of 100 computer programmers a day.