The country narrowly averted default last summer, and its $350 billion economy has stabilised after the completion of the last IMF programme
She said this would ensure a long-term sustainable workforce and a healthy UAE economy.
Speaking on the topic "Attracting and Retaining Nationals in the GCC Region," Shaikha Lubna said that "the mission of any nationalisation drive, whether in the Gulf states or elsewhere, is to maximise the career opportunities for citizens of that country to create a sustainable workforce."
She added that the key factor to national economic development is not great infrastructures or excellent telecommunication but human capital investment. "I'm talking about the issue of recruiting and retaining qualified staff. Across the UAE's economic landscape, there is currently a 'war for talent' in which companies of all sizes and from every industry compete for staff who will make their business more viable and competitive. At the very same time, up to 13,000 university graduates are ready to enter the workforce annually, and there are 1000's of unemployed UAE nationals as we speak,” Shaikha Lubna said.
She mentioned that currently, the UAE population is comprised of 85% expatriates and only 15% nationals, which is the highest ratio of foreign workers in the wider Gulf region. In addition, the UAE's work force is further skewed to the expatriates with the ratio of 90.7% foreign workers and 9.3% nationals. Of the employable base of UAE nationals, more than 88% are working in the public sector, with 56% of Emirati men in either the military or police services.
"The private sector holds the key to Emiratization - it's where the jobs are. So in addition to the excellent educational opportunities that we offer our national students, we must also create a culture of 'on the job' experience. The practice of internships or work experience for educational credit is not a new one, yet it has had limited deployment here in the UAE," Shaikha Lubna noted.
Through internship programmes, she added, "UAE nationals are given a practical taste of different industries and jobs and helps to dispel any misperceptions that private sector companies may have about UAE national graduates — that they don't want to work or are not qualified or committed to hard work."
The country narrowly averted default last summer, and its $350 billion economy has stabilised after the completion of the last IMF programme
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