His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, hailed 2024 as the most successful year in the nation’s economic and developmental journey during the first UAE Cabinet meeting of 2025. Reflecting on a year of record-breaking achievements, Sheikh Mohammed emphasized the UAE’s growing global influence under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan.
The Cabinet outlined its commitment to sustaining the UAE’s strategy of openness and modernization, pledging to ensure an optimal business environment and an elevated quality of life for all residents. Sheikh Mohammed highlighted the signing of over 140 international agreements in 2024 across key sectors such as clean energy, artificial intelligence, sustainability, and global humanitarian efforts.
Economic milestones included a historic Dh2.8 trillion in foreign trade, Dh130 billion in foreign direct investment, and Dh190 billion in industrial exports. The UAE saw 200,000 new companies established, while Emirati entrepreneurs launched 25,000 small and medium enterprises. Meanwhile, the tourism sector recorded over 30 million visitors, and airports welcomed 150 million passengers.
The National Nafis Programme played a pivotal role in increasing Emirati employment in the private sector by 350 per cent, with the number of nationals in the workforce reaching 131,000. In addition, 2024 marked the modernization of 80 per cent of the UAE’s legislation, achieved through the efforts of 2,500 officials working over three years to update regulatory frameworks.
The UAE Cabinet implemented over 750 national initiatives and issued 1,300 decisions to prepare the nation for continued growth in the decades to come. Sheikh Mohammed expressed optimism for the future, wishing 2025 to be a year of prosperity, stability, and progress for all UAE residents.
