Sheikh Mohammed announces big end-of-service changes for residents
And new laws on the regulation of e-commerce and the media…
In a message on X, the platform formally known as Twitter, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President of the UAE and Ruler of Dubai shared reflections on a very busy day of cabinet meetings at administrational hub, Qasr Al Watan.
Part of the discussions were on the establishment of a new project for overhauling end-of-service rewards for residents in the country. His Highness also stated that these benefits would be open to public sector employees and those who work in Free Zones.
ترأست اليوم بقصر الوطن بأبوظبي اجتماعاً لمجلس الوزراء .. أكدنا في بدايته استمرار دولة الإمارات في استراتيجيتها الطموحة لقطاع تكنولوجيا الفضاء .. واستمراريتها في تأهيل وإرسال المزيد من رواد الفضاء لمحطة الفضاء الدولية .. وترحيبها بعودة ابن الإمارات سلطان النيادي أول رائد فضاء عربي… pic.twitter.com/TkFvOwYUZv
— HH Sheikh Mohammed (@HHShkMohd) September 4, 2023
The proposed scheme would be entirely optional, with an aim to “preserve the workers’ savings, which represent the end of their services in the operating companies, and to ensure that they are invested in a safe way to guarantee their rights and achieve the stability of their families.”
This will be achieved through employers paying into newly set up savings and investment funds, supervised by the Securities and Commodities Authority alongside involvement from the Ministry of Human Resources and Emiratisation. Under the scheme, workers will see their end of service reward invested in various safe and smart options.
More big news from the cabinet meeting
Sheikh Mohammed also shared the news that the Council of Ministers had decided to issue 11 new federal laws relating to the regulation of “e-commerce, a new law for regulating the media, the law for assisted reproduction, and the law for regulating the space sector. And the Human Genome Use Law and other societal, economic, health and technological laws.”
There was a discussion on “a new system for rewards and incentives in the federal government” including awards recognising the work of individual employees and whole entities.
The Vice President recorded the setting up an “Office of the Federal Regulator for the Water and Electricity Sector with the aim of regulating electricity and water trade between the emirates of the country and across borders… in addition to regulating the production, transmission and distribution of electricity and water in the country… The new office will be under the umbrella of the Ministry of Energy and Infrastructure”.
Finally, there was a warm show of appreciation for the efforts of Emirati astronaut, Sultan Al Neyadi – congratulating him for a landmark stint on the International Space Station, paving the way for a new generation of space-fairing, pioneer-spirited UAE nationals.
Images: HH Sheikh Mohammed via X