UAE to mark 50th year with same number of economic projects

DUBAI: The UAE leaders are set to announce 50 economic projects, with a focus on entrepreneurship, circular economy, and the fourth industrial revolution, as the country marks its 50th anniversary, Arab News reported.

Dubai ruler Mohammed bin Rashid and Abu Dhabi Crown Prince Mohammed bin Zayed will announce the national projects on September 5.

“The UAE is starting a new season in a different way this year. We will announce a series of 50 significant economic projects starting from September 5 to lead the next phase of growth,” the Dubai ruler said on Twitter.

The projects will cover economic and social development, according to a government statement, and will explore opportunities in entrepreneurship, as well as application of the fourth industrial revolution.

The country also aims at doubling its foreign direct investment, and promote its position as a global incubator of talent and investors.

It will come as the UAE embarks on an ambitious diversification strategy, which is a common theme among governments in the Gulf region.

“The people of the UAE are encouraged to take part, harnessing their knowledge, creativity and resourcefulness so our nation can seize the opportunities of the future,” Crown Prince Mohammed bin Zayed said.