Sheikh Mohamed bin Zayed Al Nahyan and Sheikh Mohamed bin Rashid Al Maktoum attend lunch reception hosted by Sheikh Nasser bin Hamad Al Khalifa in Dubai
Reuters

Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, chaired the UAE Cabinet meeting at Qasr Al Watan in Abu Dhabi, where he announced the approval of the establishment of the Regulatory Intelligence Office within the Cabinet.

This new office will develop a comprehensive plan to integrate federal and local laws across the UAE. By leveraging artificial intelligence, it will link laws with judicial rulings, executive procedures, and public services, according to WAM.

The system will monitor the impact of laws on the daily lives of citizens and the economy, using large-scale data to suggest regular updates. It will also collaborate with global research centers to adapt international policies to the UAE's specific needs.

"This new legislative system, powered by artificial intelligence, will change how we create laws, making the process faster and more precise," Sheikh Mohammed said. "It will ensure that our legislative framework stands out, aligning our laws with the best global practices while staying true to the unique path of our rapid development."

The meeting also saw the approval of the restructuring of the Emirates Council for Balanced Development. In its previous term, the council completed several key projects in UAE villages and launched community initiatives aligned with the national agenda.

The meeting was attended by Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court; 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 also highlighted that the Ministry of Industry and Advanced Technology is preparing to host the "Make it in the Emirates" Forum. This forum will aim to strengthen the industrial sector by offering AED 160 billion worth of opportunities, including purchases, investments, financing solutions, and partnerships. The industrial sector currently contributes AED 210 billion to the GDP and has grown by 59% over the past four years.

Additionally, Sheikh Mohammed announced the approval of the Energy Efficiency Global Alliance, introduced during the UAE's hosting of COP28. The alliance will promote international cooperation, share expertise, and develop global policies with the goal of doubling energy efficiency across all sectors by 2030.

The prime minister also reviewed the results of the "Plant the Emirates" campaign, the National Sports Strategy, and the annual report on money laundering and terrorism financing risks in the UAE.

He discussed new financing mechanisms for the Sheikh Zayed Housing Program, which has issued 9,400 approvals worth AED 7.5 billion over the past three years. Plans are underway to further improve these mechanisms to meet the growing demand for housing.

Sheikh Mohammed emphasized the progress of the UAE's tax system, which supports financial sustainability and boosts global competitiveness. The UAE ranks fifth globally in tax policy efficiency and second in combating tax evasion.

The tax system has led to the registration of 520,000 companies under Corporate Tax and 470,000 under VAT. Additionally, he announced the approval of 44 international agreements across various sectors and the start of negotiations for investment protection agreements with 30 countries, aiming to strengthen the UAE's global economic ties.