Mohammed bin Rashid approves the establishment of the National Investment Fund and approves the National Identity Strategy

Today, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, chaired a Cabinet meeting on the sidelines of the Dubai Air Show. His Highness affirmed the UAE government’s support for this global event, which hosts delegations from 115 countries and more than 150,000 specialists, pointing to its role in consolidating the country’s position in shaping the future of the global aviation sector.

During the meeting, the Council of Ministers approved the establishment of the National Investment Fund with an initial capital of 36.7 billion dirhams, subject to increase and review, with the aim of enhancing the flow of foreign direct investments through incentive financial packages.

His Highness explained that the fund aims to raise foreign investment flows to the country from 115 billion dirhams annually to 240 billion dirhams in 2031, and to increase the cumulative balance of investments from 800 billion dirhams currently to 2.2 trillion dirhams in the same year.

His Highness stressed the UAE’s message to investors around the world; “The UAE welcomes you, provides the best environment for your investments, and will continue to support your growth and future success.”

His Highness said in a blog post on the social media platform “X”: “Today I chaired a Cabinet meeting at the Dubai Airshow. The UAE government supports this exhibition, which hosts delegations from 115 countries… and more than 150,000 specialists… and contributes to consolidating the country’s position globally in shaping the future aviation sector.”

His Highness added: “As part of the Cabinet’s agenda, we approved the establishment of the National Investment Fund with an initial capital of 36.7 billion dirhams, subject to increase and review. The goal of the fund is to encourage foreign direct investments coming into the country through incentive financial packages and achieve our goals by raising it from 115 billion dirhams annually to 240 billion dirhams annually in 2031, and raising its accumulated balance from 800 billion to 2.2 trillion dirhams in the same year. Our message is clear. To all investors around the world…the UAE welcomes you…the UAE will provide the best environment for your investments…and the UAE will support your growth and future success.”

His Highness continued: “Today, during the Cabinet meeting, we were briefed on the latest developments in the implementation of the national strategy for industry… as national spending on the industrial sector exceeded 110 billion dirhams, an increase of 244% in the last five years, and our industrial exports amounted to 197 billion dirhams… Today the industrial sector contributes to our gross domestic product by 210 billion dirhams… and our goal is 300 billion dirhams by 2031, God willing… and we We continue to follow the development of this sector and support its rapid growth.”

His Highness said: “We also adopted today the national identity strategy in the UAE, which includes 70 government initiatives to consolidate the national identity in new generations, enhance the concepts of belonging to it, and strengthen family ties and stability in UAE society.”

His Highness concluded: “During the meeting, we also reviewed the latest developments in joint Gulf economic action. The UAE is supportive and committed to this principle. Today, the country includes the largest number of licenses granted to citizens of the Gulf Cooperation Council countries, which amounted to 36 thousand licenses. The country also includes the largest number of Gulf real estate owners, who numbered 52 thousand Gulf citizens. The largest number of Gulf Cooperation Council students studying in our public universities, numbering 7,500 students. The volume of trade exchange with the Gulf countries reached about 333 billion dirhams… Strengthening the process of joint Gulf action was and will remain one of the basic principles established by the builder of the union, Sheikh Zayed, may God have mercy on him… and we will continue to adhere to its principles.”