Mohammed bin Rashid, Mohamed bin Zayed attend UAE Post Oil Retreat

Vice President and Prime Minister of the UAE and Ruler of Dubai His Highness Sheikh Mohammed bin Rashid Al Maktoum and Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces His Highness Sheikh Mohamed bin Zayed Al Nahyan attended a retreat to discuss the UAE’s post oil phase and developing its sustainable economy.

The retreat which began this morning is slated to continue till tomorrow, Sunday, at the Bab Al Shams Resort in Dubai.

Their Highnesses took part in the retreat discussions that aim to develop a comprehensive national programme for a diverse and sustainable economy. The first day of the retreat began with sessions in which participants looked at the current state of the UAE economy by reviewing the GDP growth rates since 1980
and the contribution of oil and non-oil sectors. One session highlighted opportunities for developing vital non-oil sectors in the UAE in order to strength the UAE's position.

Another session discussed future scenarios for the UAE economy, highlighting the most important ones that could be adopted by the government to make a quantum leap in achieving positive changes in various sectors. The session also stressed the significance of developing national talents to lead these sectors.

Sheikh Mohammed bin Rashid and His Highness Sheikh Mohamed bin Zayed took part in the discussions, where four teams were created, with each team comprising a number of ministers, senior officials, and experts to brainstorm and discuss initiatives within each sector.

Deputy Prime Minister and Minister of the Interior His Highness Lt. General Sheikh Saif bin Zayed Al Nahyan headed a working group on human capital that aims to develop, attract and retain talents, while Deputy Prime Minister and Minister of Presidential Affairs His Highness Sheikh Mansour bin Zayed Al Nahyan chaired a working group discussing the development of a robust
knowledge-based economy on technology and innovation. Minister of Finance His Highness Sheikh Hamdan bin Rashid Al Maktoum chaired a working group on the government policies that aims to ensure government financial sustainability and utilize government resources to contribute to the UAE’s post-oil economy.

Another working group on community was chaired by Foreign Minister His Highness Sheikh Abdullah bin Zayed Al Nahyan to discuss ways of ensuring the sustainability of social welfare for Emirati families and diversifying sources of income.