ABU DHABI: In a significant gathering at Qasr Al Watan, Abu Dhabi, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, presided over the UAE Cabinet’s inaugural meeting of 2025, setting the stage for a year marked by prosperity and growth. The meeting was attended by key leaders, including His Highness Sheikh Mansour bin Zayed Al Nahyan and His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, among others.
According to Emirates News Agency, Sheikh Mohammed underscored the remarkable achievements of 2024, which he described as the most outstanding economic and developmental year in the UAE’s history. Under the leadership of the UAE President, the nation solidified its global position by signing over 140 international agreements across critical sectors such as economy, sustainability, and clean energy. The government completed an extensive three-year initiative to modernize 80 percent of its laws, facilitating the growth of 200,000 new companies and foreign trade exceeding AED 2.8 trillion.
The UAE’s strategic focus on innovation and sustainability was highlighted by its participation in international projects, including joining the Lunar Gateway space station project and establishing a permanent polar research base. In 2024, the government enacted 87 policies and initiatives related to sustainability, including the “Plant the Emirates” program and the adoption of the National Policy on Biofuels. The education sector saw significant restructuring, with the establishment of new ministries and initiatives to enhance educational systems.
In the economic arena, the UAE’s GDP is expected to surpass AED 1.7 trillion, with non-oil exports projected to exceed AED 540 billion. The industrial sector’s contribution to GDP was estimated at AED 210 billion, supported by over 15,000 companies. The Cabinet also reviewed the progress of the National Drug Policy, with medicine sales projected to reach AED 20.5 billion in 2024. The cultural and creative industries showed robust growth, contributing 4.1 percent to the national GDP.
The UAE reinforced its global presence by ratifying multiple international agreements and hosting significant cultural events. The Cabinet approved various legislative and governmental measures, including drafting a federal law for the National Zakat Platform and regulations for accounting and competition laws. The meeting concluded with a commitment to continue on a path of progress, ensuring a conducive environment for business and a high quality of life.