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Sheikh Mohammad Bin Rashid Al Maktoum |
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--: Tasaweer of Sheikh Mohammad Bin Rashid Al Maktoum :--
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| Sheikh Mohammad Bin Rashid : Investing in citizens is cornerstone of our policies |  | | UAE Vice President, Prime Minister and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum asserted that the directives of President His Highness Sheikh Khalifa bin Zayed Al Nahyan to utilize all required resources in providing prosperity and happiness s and decent life for citizens at all levels remain the government’s major priority.
His Highness Sheikh Mohammed bin Rashid added that investing in citizens and answering their needs are the cornerstone of the UAE government’s policies, and represent the top priority in the national agenda for achieving UAE Vision 2021. Sheikh Mohammed also stated that the 2015 Federal Budget will focuses on health, education, and social services, as well as developing government services in compliance with the vision of President His Highness Sheikh Khalifa bin Zayed Al Nahyan to provide prosperity, security and a decent life for all citizens.
in this aspect, the Cabinet approved the 2015 Federal Draft Budget at an estimated amount of AED 49.1 billion with increase of AED2.9 billion (6.3%) from the fiscal year 2014.
Sheikh Mohammed’s comments and budget approval were made during a Cabinet meeting Chaired by Sheikh Mohammed at the Presidential Palace in the presence of Deputy Prime Minister and Minister of Presidential Affairs His Highness Sheikh Mansour bin Zayed Al Nahyan.
His Highness the Vice President said that the government allocated 49% of the 2015 Federal Budget for social development’s projects, with total amount approximates AED 24 billion.
The 2015 budget primarily focuses on sustainably employing financial resources to serve citizens and provide them with better health, education, and social services.
The government expenditures breakdown illustrates that social development and social benefits sector received AED 24 billion, representing 49% of the total Federal Budget. The budget also allocated AED 20 billion to government affairs sector, representing 41% of the total budget. The budget allocated AED 1.8 billion, equivalent to 3.7%, to the infrastructure and economic sectors, AED 1.6 billion, representing 3.2%, to financial assets and AED 1 billion to federal spending.
The budget is in consistence with the projects, initiatives and allocations in the Federal Government Strategy for the same timeframe and also in line with the zero-based budget framework.
The Cabinet also approved the executive regulations of the UAE. Competition Law which regulates economic activities and utilization of Intellectual Property Rights, expected to boost competition in the country. The law supports national efforts to deliver UAE Vision 2021 seeking to build a knowledge-based economy.
The Cabinet approved a resolution aimed at regulating the Emirates Green Card for rationalization of water consumption. The system awards water consuming devices in buildings and facilities a green card in reward for complying with the system's requirements for protection of the environment. The Green Card serves as a guide for rational consumption of water and protects consumers in line with the U.A.E.'s green development strategy.
The Cabinet issued a resolution restructuring the General Authority of Sports and Youth Welfare under the chairmanship of Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Culture, Youth and Community Development, and membership of Mohammed Ibrahim Al Mahmoud, Ahmed Nasser Al Fardan, Nasser Saeed Al Talay, Abdullah Saeed Humaid Al Nuaemi, Saeed Al Dhanhani and Omer Mohammed Jassim Al Muzki.
The Cabinet approved reshuffling of the Government Financial Policy Coordination Council after the expiry of its term duly. Pursuant to the Cabinet Resolution, Younis Haji Al Khouri, Under-Secretary of Ministry of Finance, will chair the Council which also includes high-calibers from both federal and local entities.
During today's session, the Cabinet endorsed the final consolidated accounts of the Union for the fiscal year 2013, final accounts of the National Transport Authority for fiscal year 2012 and closing accounts for fiscal year 2013 of the Emirates Real Estate Corporation, Emirates Post Group Holding, Emirates General Petroleum Corporation (Emarat) and Emirates General Transport and Services Corporation.
The Cabinet also approved the State subscription in the fifth capital increase of the Islamic Development Bank (IDB). The move underlines the government's resolve in cooperating with regional and international organizations for serving development projects and helping the private sector accessing financing facilities and services. United Arab Emirates is one of the key founders of the Jeddah-based bank and permanent member of IDB’s Executive Board.
Reviewing the recommendations of the Federal National Council, the Cabinet passed the recommendations regarding the policies of the Ministry of Higher Education and Scientific Research on scientific research and that of the General Authority for Islamic Affairs and Endowments.
On regional and international level, the Cabinet approved the regulations on GCC’s logo, official stamp and relevant intellectual property rights.
Finally, the Cabinet endorsed series of agreements including the protocol for amending the agreement for avoidance of double taxation and fiscal evasion with Poland, another treaty on mutual administrative cooperation on customs matters with The Maldives and the air transport agreements signed with Myanmar, Burundi, Sierra Leone and Slovenia.
Sunday, October 12, 2014
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