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17 April 2024

Maktoum bin Mohammed: 52nd Union Day is an occasion to celebrate the UAE’s exceptional achievements and rise as a global development model

By E247

Maktoum bin Mohammed: 52nd Union Day is an occasion to celebrate the UAE’s exceptional achievements and rise as a global development model

His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, said that Union Day is an occasion to celebrate the nation’s foundational values of cooperation, solidarity and unity. The leadership’s constant dedication to fostering comprehensive development and ensuring the people’s wellbeing has led to great national successes across vital sectors and fields, His Highness noted.

In a statement issued on Union Day, His Highness extended his heartfelt congratulations to UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and Their Highnesses, the Supreme Council Members and Rulers of the Emirates, on the 52nd anniversary of the UAE’s founding. He also said that Union Day is an occasion for citizens to renew their pledge of loyalty to the homeland and their commitment to contributing to the nation’s prosperity and development.

“This year, as the UAE celebrates its National Day, it proudly marks exceptional achievements that have consolidated its position as a global economic hub. The nation serves as a unique example of an Arab country that has achieved remarkable progress across diverse fields and contributed to shaping the world’s future. The leadership’s focus on nurturing qualified talent has been instrumental to the country’s rapid development,” Sheikh Maktoum said.

His Highness highlighted the UAE's economic advancements characterised by a well-defined strategy aimed at achieving global leadership and establishing strong regional and global alliances. The UAE has also consolidated its position as a global leader and a preferred international investment destination, His Highness noted.

Sheikh Maktoum said the leadership’s forward-looking vision is evident in every decision made to advance the nation’s development journey. He cited the example of the AED192 billion 2024-2026 federal budget and the Federal General Budget for 2024, featuring expenditures of AED64 billion, which are a clear testament to the robustness of the national economy.

Another indicator of the UAE's ability to maintain global excellence is the increasing confidence of the global investment community in the country. The UAE achieved the highest foreign direct investment (FDI) inflows in its history in 2022, reaching AED84 billion ($23 billion), despite a 12% decline in global FDI movement, demonstrating the confidence of global investors. The United Nations Trade and Development Organization’s (UNCTAD) World Investment Report 2023 also ranked the UAE as the fourth largest recipient of greenfield investment projects in the world with a total of 997 projects.

His Highness further emphasised that the UAE’s achievements would not have been possible without the guidance of the leadership and their dedication to fostering a new generation of leaders who can steer the development process forward.

Sheikh Maktoum concluded by expressing the leadership's confidence in the abilities of the nation’s citizens to achieve even greater successes across various spheres.