2024 'best economic and developmental year', says H.H. Sheikh Mohammed

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, chaired the first UAE Cabinet meeting of the year on Thursday, reviewing the achievements of the country in 2024.

In a post on X, His Highness wrote that "It was the best economic and developmental year for the UAE since its establishment."

He added the UAE has strengthened its global presence under the leadership of President His Highness Sheikh Mohamed bin Zayed Al Nahyan.

Sheikh Mohammed highlighted the country signed more than 140 international agreements during 2024 in the fields of economy, sustainability, clean energy, technology, artificial intelligence, security, defence, international humanitarian work, and others.

ترأست اليوم الاجتماع الأول لمجلس الوزراء في العام الجديد … عام خير وبركة وازدهار واستقرار على شعب الإمارات بإذن الله …
استعرضنا خلال الاجتماع حصاد العام 2024 …
وكان أفضل عام اقتصادي وتنموي يمر على دولة الإمارات منذ تأسيسها بحمد الله…

عززت دولتنا حضورها العالمي بقيادة أخي… pic.twitter.com/8VAANB1mG6

— HH Sheikh Mohammed (@HHShkMohd) January 2, 2025

In addition, His Highness Sheikh Mohammed bin Rashid Al Maktoum said, “The UAE Government successfully concluded a three-year initiative involving 2,500 officials to update all legislation issued since the Union’s founding. This effort resulted in the modernisation of 80 per cent of the country’s economic, social, and regulatory laws, fostering an environment conducive to growth.

"Consequently, the number of new companies established in 2024 surged to 200,000, while foreign trade exceeded AED2.8 trillion for the first time. Foreign direct investments are projected to reach AED 130 billion, and industrial exports are expected to surpass AED190 billion – both unprecedented milestones.”