UAE - Mubasher: The UAE will sign eight comprehensive partnerships to annually raise the current AED 257 billion trade exchange with eight major strategic markets by AED 40 billion, the Emirates News Agency (WAM) reported.
This step is part of the first package of the country's "Projects of the 50" initiative, under which the higher committee for global economic partnerships will also be launched.
As part of the initiative, the UAE has announced "Tech Drive" project, allocating AED 5 billion to shift towards the fourth industrial revolution within five years, adding AED 25 billion to the gross domestic product (GDP), and raising the industrial productivity by 30%.
To accelerate the adoption of advanced technologies in the industrial sector, the UAE government has also introduced the Fourth Industrial Revolution Network to establish 500 national companies equipped with these technologies.
In addition, the "Projects of the 50" initiative includes the "10x10" economic programme which targets 10 global markets and seeks to annually increase exports to these markets by 10%.
An investment summit will also be held in the first quarter (Q2) of 2022, bringing together investment funds and public and private sectors to attract AED 550 billion foreign direct investments (FDIs) over the next nine years.
Among the package, the Green Visa will be launched to expand the self-residency status to investors, entrepreneurs, highly skilled individuals, top students, and graduates.
The federal freelancers visa will also be granted to self-employed workers based in the UAE and overseas in specialised fields such as artificial intelligence (AI), Blockchain, and digital currencies.
