ALBAWABA- The UAE's Vice President and Prime Minister of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, chaired a Cabinet meeting where several significant decisions were made. The establishment of a Ministry for Investment within the federal government structure was approved, with Mohammed Hassan Al Suwaidi appointed as the Minister of Investment.
The ministry's aim is to develop the country's investment vision, stimulate the domestic investment environment, and maintain the UAE as a global investment destination.
Furthermore, the national strategy for hydrogen was endorsed, emphasizing the UAE's position as a producer and source of low-emission hydrogen.
Additionally, a national policy for electric vehicles was approved, promoting a network of charging stations and associated industries to reduce emissions and energy consumption. The Cabinet granted an initial national license for autonomous vehicles to WeRide, allowing the testing of autonomous vehicles in the country.
The establishment of the Financial Stability Council and the issuance of a federal law to protect financial stability and monitor risks were also among the approved decisions.
