Finance & Capital Market

UAE govt achieves historic milestones in last 20 years; real GDP grows 94%

ABU DHABI
UAE govt achieves historic milestones in last 20 years; real GDP grows 94%
HH Sheikh Mohammed chairs the Cabinet meeting. Image courtesy: WAM

The UAE government has achieved historic milestones, establishing an inspiring development model for government work during the last 20 years under the leadership of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.

The UAE’s real GDP has achieved a 94% growth, from AED 918 billion ($250 billion) in 2006 to over AED1.77 trillion ($482 billion) in 2024. Non-oil foreign trade experienced an unprecedented surge of 599%, from AED415 billion in 2006 to around AED3 trillion in 2024. Similarly, non-oil exports saw an extraordinary increase of 1827%, jumping from AED29 billion in 2006 to AED559 billion in 2024, a WAM news agency report said.

Ranking first globally on the Efficiency of Government Spending index, the UAE government spending exceeded AED1.1 trillion in the last two decades. During this time, the government budget has grown by 167%, from less than AED27 billion in 2006 to AED 90 billion in 2026.

The achievements were highlighted during a Cabinet meeting chaired by HH Sheikh Mohammed, at Qasr Al Watan in Abu Dhabi.

The meeting was attended by Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court; Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence; Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance; Lt General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister, and Minister of the Interior, and Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister, and Minister of Foreign Affairs.

Sheikh Mohammed said: "Today, I chaired the Cabinet meeting at Qasr Al Watan, Abu Dhabi. In the meeting, we have reviewed the Cabinet's achievements over the past 20 years. During that journey, the Federal government, through 16,000 resolutions, thousands of work teams, and with budgets exceeding AED1.1 trillion, has managed to reshape the structure of the governmental work in the UAE. Our government has made strides in streamlining government services, updating legislation, modernising all types of infrastructures, including technology, investment, digital, and legal frameworks, and transitioned to a new phase of developmental work."

Sheikh Mohammed bin Rashid added: "Under the leadership of my brother, President of the UAE, His Highness Sheikh Mohamed bin Zayed Al Nahyan, our country’s journey has become a role model of development. The UAE is currently leading the world in more than 280 development indices related to citizen well-being, education, health, and housing. We are also ranking at the top thanks to our trade and economic relations, our global standing in artificial intelligence, space industries, sovereign assets, our ability to attract the best talent, and our position as an economic hub connecting East and West."

He added: “We decided, 20 years ago, to aim for the first place… some doubted… However, today - thank God - the UAE has become a model of development that other countries are imitating. Moreover, we are exporting this model to over 55 countries around the world. Excellence will continue under the umbrella of the Union. With the guidance of the leader of the Union, Mohamed bin Zayed, our future will be even better. We are full of hope and optimism. We assure our glorious People that a good life, of further excellence, pride, and glory, is yet to come for the future generations, God willing.”

The Cabinet meeting reviewed the 20-year journey of achievements since Sheikh Mohammed bin Rashid Al Maktoum assumed the role of Prime Minister on January 5, 2006. The journey featured many turning points, including developing the culture of government work through the application of several models, and work systems that drove crucial changes in doubling progress, enhancing national gains, and advancing the global standing of the UAE and its influence globally.

The most prominent of these initiatives and work models included:

* Launch of the UAE Government's first Comprehensive Strategy in 2007, and the Government Performance System launched in 2008. This laid a new foundation for government work based on scientific planning and performance measurement. Subsequently, strategic planning cycles were launched, each with specific timeframes, in line with the development of the federal government's financial budgets. So far, six strategic cycles have been implemented in the federal government.

* In 2011, the UAE Vision 2021 was launched, aiming to make the UAE one of the best countries in the world by its Golden Jubilee. This was followed in 2014 by the launch of the National Agenda for the UAE Vision 2021, which served as a roadmap for achieving this vision. 

* In 2016, the National Agenda's executive teams were launched, and in 2017, the government launched the UAE Centennial 2071 plan, a long-term vision for sustainable development and enhancing the readiness of future generations. The vision spans 100 years and focuses on investing in advanced education, a sustainable economy, and national identity to ensure the UAE's global leadership by its centennial. 

* In 2020, the government launched the "Preparing for the Next 50 Years" project, a national consultative programme designed to plan the next fifty years of the UAE's.

* In 2021, a new methodology for government work was launched to accelerate achievements and prioritise objectives. This methodology focuses on short-term transformative projects, grants greater authority to ministries and federal entities, and is guided by the "Principles of the 50" in mapping its new governmental course. It emphasizes a shift to a faster and more pragmatic work style that keeps pace with global changes.

* In 2022, the "We Are the UAE 2031" plan was launched. It focuses on the first ten-year agenda for implementing the UAE Centennial 2071, and presents a new vision and national action plan through which the country continues its development journey for the next decade, focusing on social, economic, investment, and developmental aspects.

* Education remained the cornerstone of government action, supported through policies and programmes recognising its role as the backbone of sustainable development. The UAE’s education system today serves more than 1.51 million students across 2,658 public and private schools nationwide. Between 2006 and 2024, the number of schools rose by 36 percent, while student enrolment increased by 47 percent, and the number of teachers surged by 195 percent to nearly 150,000. Education received the largest portion of government expenditure with an allocation of over AED170 billion. 

* The health and prevention sector received more than AED60 billion, social development programmes were supported with over AED 100 billion, and over AED55 billion was dedicated to citizen housing programmes.

* The UAE labour market has witnessed remarkable developments over the past 20 years. In the last five years, the number of labour market establishments has grown by 45.76%, while the total workforce has increased by 101.76%, the skilled workforce by 49.92%, and women's participation in the labour market by 101.92%.

* The Cabinet meeting also highlighted the UAE's exceptional rise in international competitiveness rankings, the result of collaborative efforts across federal and local governments teams, as well as public and private sector institutions, all guided by the nation's leadership.

* The UAE has successfully ranked first in 279 international indicators, and ascended into the top five countries in 525 global indicators. Furthermore, the UAE now ranks among the top 10 countries in 738 global indicators.

* Foreign direct investment inflows rose from AED47 billion in 2006 to AED168 billion in 2024. According to UNCTAD’s World Investment Report 2025, the UAE ranked second globally in 2024 for the number of new FDI projects, reflecting strong international confidence in the country’s business environment.

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