UAE's groundbreaking 2024: Economic growth, innovation, and global milestones

Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, chaired the UAE Cabinet's first meeting of 2025. Joined by Sheikh Mansour bin Zayed, Sheikh Hamdan bin Mohammed, Sheikh Maktoum bin Mohammed, and Sheikh Abdullah bin Zayed, the session reviewed the UAE’s extraordinary accomplishments in 2024 and outlined ambitious plans for the future.

A landmark year for the UAE

Reflecting on the previous year, Sheikh Mohammed called 2024 “the most remarkable economic and developmental year in the nation’s history since its establishment.” Under President Sheikh Mohamed bin Zayed Al Nahyan’s leadership, the UAE strengthened its global presence, signing over 140 international agreements in sectors such as sustainability, artificial intelligence, and clean energy. He added, “Under the leadership of my brother, our country has reinforced its position on the global stage, ensuring progress across all vital sectors.”

Economic success and reforms

Highlighting the UAE's domestic success, Sheikh Mohammed said, “The government successfully concluded a three-year initiative involving 2,500 officials to update all legislation since the Union’s founding, modernizing 80% of our economic, social, and regulatory laws.” These reforms created a thriving environment, resulting in 200,000 new company registrations, foreign trade surpassing AED 2.8 trillion, and industrial exports exceeding AED 190 billion.

The meeting celebrated the remarkable growth in Emirati participation in the private sector, with a 350% increase in 2024. Sheikh Mohammed remarked, “Our Emirati youth launched 25,000 small and medium-sized enterprises, integrating seamlessly into the national economy, while the Nafis program facilitated employment for 131,000 citizens in the private sector for the first time.”

Sustainability, Education, and Innovation

On sustainability, Sheikh Mohammed pointed to key milestones, including the enactment of groundbreaking climate legislation and the launch of the “Plant the Emirates” program. The UAE hosted pivotal events like the World Food Security Summit, reinforcing its commitment to environmental stewardship and innovation. “During the Year of Sustainability, we launched initiatives that will shape the nation’s environmental future while strengthening global partnerships,” he noted.

Education and innovation remained at the forefront of the UAE’s vision. The government restructured its education system, adding new schools and universities to serve over 1.2 million students. The UAE also became the first Arab nation to establish a permanent polar research base and joined the Lunar Gateway project. “Our focus on education and innovation reflects our belief that they are the cornerstones of sustainable development,” Sheikh Mohammed said.

Looking ahead, Sheikh Mohammed concluded with a message of optimism and determination: “As we embark on this new year, the UAE Government reaffirms its commitment to the President, the people of the UAE, and everyone who believes in our development model. What lies ahead in 2025 promises to be even greater, better, and more inspiring.”