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Wednesday, September 22, 2021

Projects of the 50: Emiratis who lose jobs to get financial aid

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University graduates will be paid Dh8,000 per month during the training period

The UAE leadership is announcing its second set of plans under the UAE’s ‘Projects of the 50’ today.

The first 13 out of the 50 grand projects last week revealed progressive reforms for residential visas and several economic programmes that will bolster the country’s growth.

The plans are being revealed today at the Qasr Al Watan Presidential Palace in Abu Dhabi, three months ahead of the UAE’s 50th National Day celebrations on December 2.

Latest updates:

Commenting on the newly launched scheme, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, noted that the developments are in keeping with the country’s ambition to empower its people and enhance the sustainability of its economy.

Consistent with our ambitions to empower our people and enhance the strength and sustainability of our economy, the UAE is launching a dedicated plan to boost the employment of UAE Nationals in the private sector, which will play a vital role in our nation’s long-term development

— (@MohamedBinZayed) September 12, 2021


A special Dh1 billion fund will grant loans to fresh graduates and university students to start their own businesses.


UAE nationals employed in the private sector have the option to retire early in order to start their own businesses. Early retirees will be given financial incentive to pursue their entrepreneurial dreams.


The UAE government has announced temporary financial aids for Emiratis who lose their jobs in the private sector due to circumstances beyond their control. They will be supported for six months as they search for a job.


Firms in the UAE have also been given Emiratisation targets. They have to increase the number of Emiratis by 2 per cent per annum for five years – to reach 10 per cent.

.. .. .. ..

— HH Sheikh Mohammed (@HHShkMohd) September 12, 2021


The government has also announced a retirement fund for Emiratis in the private sector.


For the first time, monthly allowances will be given to Emirati parents in the private sector to raise their children. They will get Dh800 per child per month, with a maximum of Dh3,200.


Another programme will see Emiratis in specialised private sector fields — like health — get paid an additional Dh5,000 per month for five years.


Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs, said the government will bear the cost of training Emiratis for the private sector. During this period, university graduates will be paid Dh8,000 per month.

After the training, they will be given Dh5,000 per month in addition to their salaries.


The UAE Government has announced the allocation of Dh24 billion to employ 75,000 Emiratis in the private sector.

The scheme will have 13 projects.

.. .. .. pic.twitter.com/Tw31Wn54L9

— HH Sheikh Mohammed (@HHShkMohd) September 12, 2021

ALSO READ:

>> Projects of the 50: New UAE visa reforms; all we know so far

>> Projects of the 50: Carving a new future for UAE

author

Dhanusha Gokulan

Originally from India, Dhanusha Gokulan has been working as a journalist for over ten years. For Khaleej Times, she covers NRI affairs, civil aviation, and immigration issues among other things. She completed her BA in Journalism, Economics and English Literature from Mangalore University in 2008 and is currently pursuing her MA in Leadership and Innovation in Contemporary Media at the American University in Dubai. In her spare time, she dabbles with some singing/songwriting, loves food, and is mom to an over-enthusiastic Labrador retriever. Tweet at her @shootsprintrite.

(Except for the headline, this story has not been edited by WC Times staff and is published from a syndicated feed.)

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