Four international economic agreements, setting of Asian Investment Bank office approved in cabinet meeting

His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, chaired a cabinet meeting in Abu Dhabi on Monday.

Sheikh Mohammed shared on Twitter that in the meeting of the Council of Ministers at Al Watan Palace in Abu Dhabi, 4 international economic agreements were approved and the establishment of an office for the Asian Investment Bank in the country, which has a capital of $100 billion was also agreed to.

More than 75 countries participate in the bank, which chose to establish the regional office in the UAE.

The Dubai Ruler also said that the agenda for circular economy policies in the country was approved and the report on the achievements of the Climate Action Council were reviewed. The Council's action plan for the coming period, especially with regard to achieving climate neutrality for the country by 2050 was also affirmed in the meeting.

Moreover, he said that the operational model for Al-Ajyal Schools, through which 28 public schools are outsourced to be run by experienced operators from the private sector for a period of 3 years was adopted, with the aim being to transfer experiences, and diversify options for parents.

Furthermore, the establishment of the Emirates Award for Leadership in the Labor Market, was approved. The aim is to honour the owners of distinguished practices from the owners of establishments and from the workers, in order to consolidate these practices and enhance the competitiveness of the labor market in the UAE.