Mohammed bin Rashid explains the details of the new citizenship law in the UAE and the benefits for the UAE economy and citizens
Mohammed bin Rashid explains the details of the new citizenship law in the UAE and the benefits for the UAE economy and citizens

Today, we will learn about 5 benefits for all citizens and residents of the Emirates that are derived from the amendments to the law on granting citizenship and a great opportunity for the advancement of the UAE economy. Through the following lines, we will get to know the details.

Economists listed for "the vision", 5 main benefits that the Emirati economy will gain from adopting legal amendments that allow granting Emirati citizenship and passport to investors, talented and specialized scientists, doctors, engineers, artists, intellectuals and their families, especially in the new year 2021 and in the post-"Covid-19" stage.

They explained that these benefits are: preserving distinguished human cadres and talents currently residing in the country, enhancing the knowledge economy in the country, enabling the state to enter into long-term research and technological projects, attracting new investments in major sectors such as real estate, tourism and education, and supporting the implementation of the comprehensive development plans of the state during the fifty Next years.

The consultant and economist, Dr. Kamal Amin Al-Wasal said that this decision comes as an important link in the series of initiatives taken by the leadership of the UAE to make the country's strategy in transforming the economy into a knowledge-based economy.

He pointed out that the decision comes in recognition of the fact that the basis of economic, technological and knowledge progress is human capital, and that there are qualified and highly experienced human cadres in the economy, stressing that this decision has many positive economic repercussions on the UAE economy.

He stressed that this decision will lead to attracting many cadres from all over the world as a result of the employment, social and family stability achieved by obtaining citizenship, which represents a strong addition to the human capital in the country.

He pointed out that the presence of sufficient numbers of distinguished human cadres will give a great impetus to the existing scientific research, research and development centers in the country, as well as the establishment of more of them, and these centers represent a basic pillar of the knowledge economy.

He stressed that the permanent residency and job stability of these cadres will work to enter into long-term research and technology projects, and thus will represent an additional tributary to support the knowledge economy.

He added that this decision represents a tangible addition to the investment potential and support of the overall demand, because the economic behavior of those who enjoy permanent and stable residence will work to employ their savings and plan their consumption in the long run.

He emphasized that one of the most important sectors that will be positively affected by this decision is the real estate sector, as granting citizenship means permanent stability, and in this case the search for a permanent residence is a natural and necessary matter.

He pointed out that this decision will enhance the feeling of belonging to the country, after these investment and educational elites obtain citizenship, which is reflected in productivity and increased desire for achievement.

For his part, Director General of "Al-Masar" for Economic Studies, Najeeb Al-Shamsi emphasized that the decision aims to involve exceptional talents to be permanent partners in the development process in the country, pointing out that the countries of the world have become harnessing all capabilities to reduce dependence on the outside and achieve self-sufficiency in various fields. Especially with the repercussions of the Corona pandemic, which is the approach followed by the UAE as a country.

The managing partner of Truth for Economic and Management Consulting and the economist, Reda Muslim, pointed out that the decision will lead to an increase in global competitiveness in attracting expertise, minds and investments, stressing that the decision will contribute to more benefit from competencies and increase the benefit of the country's citizens of those competencies and do more. Of effort and training in it.