ABU DHABI, The outcomes of the economic strategies, initiatives and projects launched by the second UAE Government Annual Meetings will improve the country's competitiveness in areas of development.

The joint strategies and initiatives of the first and second editions of the meetings are part of the UAE Vision 2021 and the UAE Centennial 2071.

On 28th September, 2018, the annual meetings, which were attended by federal leaders, officials, and decision-makers and executives, established the country's approach to its centennial. The meetings were conducted with a united Emirati spirit, which was founded by the late Sheikh Zayed bin Sultan Al Nahyan.

The first meetings adopted many economic strategies, as part of four long-term soft power programmes that aim to integrate higher education, the fourth industrial revolution, food security and the National Agenda.

The second meetings in 2018 assessed the performance of the first year and adopted seven long-term strategies, most notably related to the economy.

The second meetings also highlighted the developments to the country's achievement of the UAE Vision 2021 and the UAE Centennial 2071, including its strategic partnerships with India and China, as well as its overall strategic partnership with Saudi Arabia.

Joint committees between the UAE and Saudi Arabia have adopted plans and initiatives that will be implemented during the coming year, in line with the opportunities provided by the Dubai Expo 2020.

The UAE's achievements include the advancement of its space sector, such as the construction of KhalifaSat in the UAE, as well as the positive economic effects of granting investors and talented foreigners a 10-year residency visa.

The second meetings also highlighted the country's successes, which are proven by statistics supported by the International Monetary Fund, IMF, the World Bank and international rating agencies.

These figures include the growth to the UAE's GDP by 3.4 percent, supported by the growth of non-oil sectors, as well as an estimated growth of 2.9 percent to its non-oil sector, and a rise in GDP from AED1.59 trillion to AED 1.65 trillion in 2019.

These economic figures support the declaration at the end of the previous year that 71 percent of the UAE Vision 2021 has been achieved, which will increase the country's international competitiveness and help it achieve sustainability development.

The UAE ranks first in the Middle East and North Africa and 17th in the world in the latest "Economic Competitiveness Report 2018," which was compiled by the World Bank, in cooperation with the World Economic Forum.

At the end of the second annual meetings, relevant authorities concluded that the government's innovative strategies and initiatives will create value-added benefits and help the country prepare for geopolitical challenges, to achieve the UAE Vision 2021 and overall development, especially economic development, and encourage confidence.

Source: Emirates News Agency