HH Sheikh Mohammed Bin Rashid Just Announced Visa and Labor Reforms That Will Change Everything!

HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai announced yesterday in a cabinet meeting some major news that would change the lives of workers and travelers in the UAE. The Leader introduced reforms to the visa and labor laws that would guarantee that the UAE will always be a leading destination for ease of doing business.

‏ترأست اليوم اجتماعا لمجلس الوزراء أقررنا خلاله حزمة تسهيلات تشريعية تتضمن إلغاء إلزامية الضمان المصرفي لاستقدام العمالة واستبدالها بنظام تأمين منخفض التكلفة وضخ 14 مليار درهم ضمانات مصرفية في الاقتصاد الوطني وغيرها من التسهيلات في مجال الإقامة. دولة الإمارات ضمن أفضل عشر دول في التنافسية العالمية، وهدفنا البقاء ضمن أعلى تصنيف عالمي في سهولة ممارسة الأعمال، عبر اقتصاد قائم على المرونة والانفتاح ومواكبة المتغيرات .. مصلحة الوطن أن يكون اقتصادنا الأول والأفضل والأكثر جاذبية In a cabinet meeting today we approved reforms including replacing the bank guarantee system for private sector employees, with a low-cost insurance scheme. This will release AED 14 billion back to the private sector companies and will further lower the cost of doing business. The UAE is among the ten most competitive countries in the world and our goal is to remain a top destination for ease of doing business, through an agile economy based on flexibility and openness. A strong economy drives us as a nation to be among the first and best.

A post shared by Mohammed bin Rashid Al Maktoum (@hhshkmohd) on Jun 13, 2018 at 11:19am PDT

Here are the eight strategic changes as announced on Sheikh Mohammed’s Twitter.

WE SAID THIS: “The UAE is among the ten most competitive countries in the world and our goal is to remain a top destination for ease of doing business”