The UAE's first savings scheme and new economic growth

The UAE's first savings scheme and new economic growth

  • AX News
  • Dubai economy and life: Dubai is ready for the next phase of growth and the launch of the UAE's first savings scheme for foreign employees

Dubai economy is well-positioned for next phase of growth, according to the research by the banking group, Emirates NBD.

The phase is marked by increasing shift from building physical infrastructure, focus on "soft infrastructure" to:

  • Further reduce barriers to doing business
  • Support the long-term economic potential of the emirate

The most important sectors for the long-term economic potential:

  • Trade
  • Domestic manufacturing
  • Real estate market
  • E-commerce
  • Tourism

The launch of the UAE's first "Savings Scheme for Foreign Employees in the Government of Dubai" has been approved.

The key goal is to provide employees with opportunities to develop their savings and end-of-service dues. The program includes:

  • Investment mechanisms + guarantee of capital protection for employees who do not wish to invest
  • Protection and management of deposit financial dues

Sources: The National News, Media Office Government of Dubai

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