UAE: New private sector policy approved; firms to get incentives for supporting Emiratisation

A new policy for private sector companies in the UAE will support the government’s Emiratisation objectives and protect labour rights.

The policy, approved by the Cabinet on Monday, provides “additional incentives” for companies that support employment of Emiratis.

As he chaired the Cabinet meeting, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, said: "Citizens will remain the priority and the government will support them continuously in housing, development, education and economic and labour opportunities. The government’s role is to establish a balance between our rapid economic growth and providing a better life for our citizens.”

The Cabinet also approved a decision to protect labour rights. It aims to develop an integrated system that will offer alternatives to employment insurance. This will provide more benefits for employment and reduce the financial burden on many establishments as well.

Another policy classifies private sector businesses to enhance the “flexibility and competitiveness of the labour market”.

Employment will be classified according to the nine occupational levels laid down by the International Standard Classification of Occupations (ISCO) issued by the International Labour Organisation.

Housing programme

The UAE Cabinet also adopted a housing loan budget of Dh12 billion for the Sheikh Zayed Housing Programme. The budget is for the next few years.

“The aim is to fulfil accumulated and expected requests and reduce the waiting period during the coming years,” said Sheikh Mohammed

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