UAE Cabinet approves new policy on customs exemption
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Abu Dhabi: The UAE Cabinet has approved a new policy granting customs exemption only for imported materials that do not exist locally.
The new policy, which was approved on Sunday during a meeting chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister of the UAE, and Ruler of Dubai, aims to support local products and encourage factories to use locally produced materials.
Additionally, the Cabinet confirmed the date for the annual UAE government meetings, which would be attended by up to 500 local and federal officials. The meetings will be held in Abu Dhabi on November 22 to review the government’s performance over the past year, and plan the most important development projects for the next year.
On his official Twitter page, Sheikh Mohammed said: “Today, I chaired a cabinet meeting at Qasr Al Watan in Abu Dhabi. We started our meeting by thanking our medical and service cadres, the Emergency and Crisis Authority, volunteers, and all citizens and residents who acted as one national team while fighting one of the biggest health crises that humanity has ever experienced.”
“We also reviewed the government’s productivity measurement project, which will be outsourced to the Federal Human Resources Authority. Despite having access to sufficient personnel and financial resources, some organizations and ministries continue to operate at low productivity levels. The real leader is the one who doubles the volume, value, and productivity of the human potential within his powers and vice versa,” Sheikh Mohammed tweeted.
“We also adopted a new policy to support the local product by changing the customs exemption policy. The customs exemption will now be valid for imported materials that are included in industries and do not exist locally. This is to encourage factories to use locally produced materials,” The Vice President tweeted.
The cabinet has also okayed a comprehensive development project to train federal government cadres and equip them with the skills necessary for the upcoming age in order to improve the government’s preparation for the future and that of its cadres.
The Council of Ministers has also given the green light for the country’s joining the Global Alliance on Green Economy, which aims to consolidate the global transformation towards more sustainable economic prosperity and preserve the environment. This comes as part of the UAE’s preparations to host COP28 next year.
