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Abu Dhabi: The UAE is trying to further diversify its income sources to avoid being too dependent on oil and to maintain sustainable economic and social development, according to an official statement.
"The UAE views sustainable development as the best way to provide stability and security for all people around the world," said the UAE's delegation to the UN General Assembly.
"The UAE is also urging the adoption and implementation of all relevant international resolutions and recommendations," said the statement delivered by Shaikha Salman Al Za'abi, member of the UAE delegation to the meetings of the General Assembly's second committee in New York.
The statement listed the key approaches to development adopted by the UAE:
Focus on human resources development through education and social and health care for all and providing equal employment opportunities for all UAE men and women. The UAE ranks 37th in the UN human development report (HDR) for 2007-08;
Adopting a market economy and supporting private sector with new regulations to boost competitiveness and create an environment that is attractive to foreign investment. In support of small and medium businesses, the Khalifa Fund for Supporting Small and Medium Enterprises and the Mohammad Bin Rashid Establishment for Young Business Leaders, were created;
Elevating the average annual income of citizens to Dh118,000.
Some of the major signs of economic growth cited included the increase in the number of UAE companies and growth in overseas investments.
Competitive
The UAE economy is now the most competitive in the Arab world and is among the world's most free and attractive economies for foreign investment.
The government has also launched anti-corruption and anti-money laundering procedures.
For preserving environmental sustainability and integrating environmental preservation into national planning for a diversified economy into the 21st century, the nation has taken the following steps:
In cooperation with the WWF (World-Wide Fund for Nature) the UAE has launched Masdar city, the world's first zero-carbon city that depends on renewable and clean energies;
Taking part in global and regional partnerships and efforts to support developing countries and areas hit by conflicts and natural disasters.
The statement added that current global food, credit and energy crises and climate change threaten to impede sustainable development in developing countries where half of the world population suffer from poverty, diseases, unemployment, terrorism and armed conflicts.
Vital steps: Long-term goals
- Human resources development through education and social and health care for all.
- Adoption of market economy and supporting private economy to boost competitiveness.
- The Khalifa Fund and Mohammad Bin Rashid Establishment for Young Business Leaders created.
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