A special bureau is to be set up by the Ministry of Finance to manage the country's general debt.
This was decided yesterday by the Cabinet during a meeting at which a bill establishing a framework for the regulation, issue and running of the state's debt was approved.
Ministers were instructed to maximise their efforts to ensure the implementation of initiatives by their ministries and other federal bodies. The call came from His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, as he presided over the meeting of the Cabinet. He told ministers to focus on the most important plans.
The Cabinet reviewed a report on the progress made towards implementing the federal government's strategy. Members approved a series of working practices drawn up by the federal Human Resources Authority which was launched last year.
The meeting at the Presidential Palace was attended by Deputy Prime Minister Sheikh Hamdan bin Zayed Al Nahyan.
Meanwhile, Sheikh Mohammed met Vietnamese Prime Minister Nguyen Tan Dung at Abu Dhabi Airport and received the Mayor of Chicago, Richard Daley, also in the UAE capital yesterday.