20,000 Jobs to Be Created in UAE in the Next 3 Years

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, on Sunday announced the creation of over 20,000 jobs for Emiratis in the banking, aviation, telecommunications, insurance and real estate sectors over the next three years. 

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A fund of Dh300 million has been approved for training, Sheikh Mohammed added.

"Supporting Emiratisation does not contradict our ongoing efforts to attract global talent in all fields," the UAE Vice President said in a tweet after Sunday's Cabinet meeting.

"The UAE will remain a country of openness. We will support the private sector financially and legally to achieve a balance in the labor market that achieves stability for all."

The Cabinet has also approved legal amendments to equalize benefits of citizens in the private sector with those in the government, especially in the calculation of pension.

Departments that are late in achieving their Emiratisation goals will be contributing financially to support the government's Emiratisation programme.

Those who meet the targets will get exceptional incentives, the Dubai Ruler added.

"We continue to implement the vision and directives of Sheikh Mohammed to reach the first place in the world in attracting investment by providing more incentives and guarantees and regulatory and legislative frameworks to consolidate the large balance of Dubai trust in the investor community," Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, tweeted.

_{This article has been amended from its original source.}