To boost its economic prowess and competitiveness, UAE has gone ahead and rolled out a total of 50 new economic initiatives. According to reports, the country has injected 5 billion dirhams ($1.36 billion) into the areas of the development of industries.

Some of the projects revolve around investment in technology, attracting foreign investment, and designing new visa types to beckon residents and overseas skilled workers. This Gulf country has introduced many such measures to attract international newcomers and simultaneously said the economy to recover from the economic losses that came to the fore due to the COVID-19 pandemic impacts.

In a media briefing by Minister of Industry and Advanced Technology Sultan al Jaber stated that an Investment of 5 million dirhams in technology and technology-heavy sectors will be initiated by the UAE and the Emirates Development Bank.

It was reiterated by Minister of Industry and Advanced Technology Sultan al Jaber when he told Reuters that “The UAE’s drive for the next 50 years is to become a global player across different industries”. Two brand new visa categories will be created for freelance, and another will be made for entrepreneurs and skilled workers.

The purpose of creating these categories of visas is to call and retain overseas skilled workers with the desired skill set and work experience to work in UAE. Many foreigners working in UAE usually have renewable visas that are valid only for a few years and are tied to their employment.

On the other hand, this new “green visa” for skilled workers shall be more flexible when sponsoring family members. It will permit additional time to search for a new job after the ending of the previous employment. . Need to know more? Calll 8595338595 or mail us at [email protected]